Nigerian Mining

UAE’s Ambrosia Pays $500million to Allied Gold for Mali Mine

Canadian mining firm Allied Gold has sold a 50% stake to UAE-based investment fund Ambrosia Investment Holding in a $500 million deal. The deal includes $250 million in upfront cash, intended to provide Allied with funding to accelerate operations at the Sadiola Mine in Mali and the Kurmuk Mine in Ethiopia. The collaboration will establish