China's Shandong Gold Mining said on Tuesday it had signed a deal to allow Canadian miner Agnico Eagle Mines to take over its recently blocked bid to acquire TMAC Resources at a higher price.

Shandong Gold said last month its C$230 million ($180.6 million) bid for TMAC had been blocked by the Canadian authorities on national security grounds.

Toronto-based Agnico Eagle will bid 2.2 Canadian dollars per share for TMAC, which has a gold mine in Canada's far north, up from the C$1.75 per share Shandong Gold was to pay for the company, according to a filing to the Shanghai Stock Exchange.