Morning Briefing: Zijin Gold, Allied Gold $5.5B deal no longer going ahead

Markets are mostly on hold as investors wait for key Fed verdict and big earnings reports.

There is a one-in-three chance that the Fed raises rates to tamp down inflation. Microsoft will have earnings out today. Apple and Amazon report tomorrow.

Number two diversified miner, Rio Tinto, posted its highest half-year underlying earnings in four years on Wednesday as performance from its copper and aluminium units tied to energy demand, that according to Reuters.

Allied Gold and Zijin Gold have terminated their January 2026 arrangement agreement, under which Zijin had agreed to acquire Allied at C$44 per share in cash for approximately C$5.5 billion, after concluding closing conditions could not be met by the July 29 outside date due to external factors affecting cross-border deals of this scale, despite shareholder approval in March.

Mining Stock Daily also covered news from Auro Metals, Meteoric Resources, Newcore Gold, Sterling Metals, Kingfisher Metals, Surge Copper and Collective Mining.

This episode of Mining Stock Daily is brought to you by Equinox Gold.

Equinox Gold is a growth-focused gold producer operating mines across the Americas. With cornerstone assets like the Greenstone Mine in Ontario and the Valentine Gold Project in Newfoundland & Labrador, Equinox is advancing a new generation of large-scale, long-life gold operations. Learn more about their portfolio and development pipeline at equinoxgold.com.