CMOC To Purchase Approx. $1.015 Bln Worth Of Brazilian Gold Assets From Equinox Gold

(RTTNews) - CMOC Group Ltd (3993.HK, 603993.SS, CMCLF), a base and rare metal mining firm, announced on Monday that it has agreed to purchase Aurizona Mine, RDM Mine and Bahia Complex located in Brazil from Canadian miner Equinox Gold Corp. (EQX.TO, 1LRC.F) for a total consideration of $1.015 billion.

The transaction includes a $900 million upfront payment and a contingent payment of up to $115 million based on sales volume during the first year following transaction closure expected in the first quarter of 2026.

Upon the deal closure, CMOC will add approximately 8 tons of annual gold production and could exceed 20 tons once the Odin gold mine in Ecuador begins operations.

The acquisition consists of three operating assets, including Aurizona Mine located in Maranhão, Northeastern Brazil; Bahia Complex, which has Fazenda and Santa Luz mines in Bahia, Eastern Brazil; and RDM Gold Mine in central Minas Gerais. These assets have total resources of 5.013 million ounces of gold contained and reserves of 3.873 million ounces of gold contained.

Gold production from the three operating assets in Brazil in 2024 was 247.3 thousand ounces. Equinox Gold also owns multiple producing assets and a pipeline of development and expansion projects in Canada and across the Americas.

Liu Jianfeng, Chairman and CIO of CMOC, stated, "Considering the rich resources and stable geopolitical environment in Brazil, the Transaction offers a strategic addition to our existing assets, creating stronger synergy and growing CMOC's presence in South America."

CMOC Group shares are trading 1.27% higher at HK$18.40 on the Hong Kong Stock Exchange.

EQX closed Friday's trade 0.14% higher at $14.70. In overnight trading, the shares are up 1.77% at $14.96 on the NYSE.

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