UAE-backed Chinese company acquires stake in Ethiopian gold mine near Sudan war zone

UAE-backed Chinese company acquires stake in Ethiopian gold mine near Sudan war zone Submitted by Zecharias Zelalem on Tue, 08/18/2026 - 09:00 Deal between Canada's Allied Gold and China's Zijin includes gold site on Sudan-Ethiopia border An elderly Sudanese refugee woman stands on the main road at the Ura Refugee Site in Asosa Zone, Benishangul-Gumuz region, Ethiopia, on 19 June 2026 (Marco Simoncelli/AFP) Off Last week, after protracted negotiations and various plot twists, Canadian mining company Allied Gold sold a minority stake in its assets to China ’s Zijin Gold International. “With the completion of the strategic investment, Zijin Gold holds approximately 9. 2 percent of the issued and outstanding common shares of the company,” Allied Gold announced in a statement.