Peter Marrone
CHAIRPERSON & CEO: Allied Gold
‘‘I want Allied Gold to be an African and emerging markets mining champion’
PETER Marrone’s reputation in the mining industry, first as an entrepreneur and then as a dealmaker, is well deserved. In 2022 he strung along Gold Fields for months on a prospective deal for his company, Yamana Gold, before selling it to fellow Canadian precious metal miners Agnico Eagle and Pan American Silver for $4.8bn. Not bad for a company he founded 20 years earlier.
But he barely took a breather when he used these funds to start Allied Gold in 2023 with a focus on, as he says, building an African mining champion. After initial caution, the market finally warmed to Allied during 2025 with the share price almost tripling, though this was in part also attributable to the strong gold price. That’s why a C$5.5bn offer for Allied from Zijin Gold, the Hong Kong listed firm in late January comes at a perfect time for Marrone.
At the time of writing, the deal was yet to be consummated, although the Allied board has recommended the offer. In addition to 400,000oz in gold output from Mali and Côte d’Ivoire, Allied is expanding its Sadiola mine and bringing the $450m Kurmuk project in Ethiopia into production.
LIFE OF PETER
The son of parents who emigrated to Canada, Marrone trained in corporate law, practising in Toronto before he took the leap into investment banking. He founded Yamana Gold in 2003 and barely took a breather between selling Yamana in 2022 and starting Allied Gold. With more than 35 years of experience in mining, business and capital markets, Marrone has founded and taken public several companies across various sectors. He has also served on the boards of numerous public companies.
