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China's CMOC to buy Brazilian gold mines for $1 billion
From Bloomberg News
Sunday, December 14, 2025
CMOC Group, one of China's biggest miners, extended its push into precious metals with a $1 billion deal to buy the Brazilian operations of Equinox Gold Corp.
It will take full ownership of two Equinox entities -- Leagold LatAm Holdings BV and Luna Gold Corp. -- that control several mines or deposits in the South American nation. Equinox will receive $900 million in cash, plus a contingent payment of as much $115 million one year after the deal closes, CMOC said in an exchange filing.
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The Chinese firm is one of the fastest-growing miners, passing Glencore Plc as the biggest cobalt producer in 2023 and having major copper operations. It has been posting strong profits off the back of high prices for the industrial metal and said earlier this year it would focus on M&A in copper, gold, and minor metals. ...
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