Post #475

🔴In Casino One Must Know When to Stop🔴 🇨🇦🤝🇨🇳 Canadian company Allied Gold, which owns assets in Mali (the Sadiola mine), Côte d’Ivoire (several mines), and Ethiopia, has decided to sell itself outright to China’s largest mining company, Zijin, for $4 billion. One of the biggest shake-ups in Africa’s mining sector, the deal is the result of a deliberate Canadian strategy to shed risk. 🔸 The sale is about locking in profits amid the continued rise in gold prices. The Canadian company managed to assemble a unique collection of assets—all with large reserves and in operating condition. Some of them, such as the Malian Sadiola deposit, have gone through hell itself—from jihadist attacks (which stopped suspiciously quickly though) to legislative revisions in the state’s favor. 🔸 Now it is time for shareholders to skim the cream: holding on to risky operations no longer makes sense when they can be sold at the highest possible price. In place of Canadian capital will come Chinese capital—more tolerant of risk and able to lean on Beijing’s backing in extreme situations. This major geopolitical shift, paradoxically, is unlikely to have much impact on local communities, since profits, which have long been flowing off to god knows where, will continue to flow out just the same. ➡️ Stay informed - @devilsbelow