CMOC Secures $1 B Brazil Deal, Raising Gold Output to 8 Tons and Gains Access to Ecuador’s Largest Reserve

CMOC Substantially Boosts Gold Portfolio with $900 Million Equinox deal

Beijing, China – December 15, 2025 – china Molybdenum co., Ltd. (CMOC) is dramatically expanding its gold production capacity through a definitive agreement to acquire key assets from Equinox Gold, a move valued at approximately $900 million. The deal, announced today, will add significant gold reserves and operating mines primarily located in Brazil, solidifying CMOC’s position as a major player in the global gold market.

The acquisition encompasses two Equinox subsidiaries – Leagold LatAm Holdings BV and Luna Gold Corp – granting CMOC control over a portfolio of strategically important gold resources. In addition to the initial $900 million payment, Equinox is poised to receive potential contingent payments of up to $115 million one year following the transaction’s completion.

Expanding Beyond Copper and Cobalt

While CMOC has historically focused on copper and cobalt mining, this acquisition signals a clear diversification strategy into the precious metals sector. The company projects its annual gold production will surge to 8 metric tons once the Equinox deal is finalized. this follows a recent $422 million purchase of Canadian mining firm Lumina Gold Corp. earlier this year, which secured access to Ecuador’s largest known gold reserve, the Cangrejos project. Mining.com reported on the Lumina Gold acquisition in February 2024.

This aggressive expansion into gold production comes amidst a period of fluctuating global commodity prices and increasing demand for safe-haven assets. Gold prices have remained relatively high in recent months, driven by geopolitical uncertainty and inflationary pressures. According to the World Gold Council, global gold demand reached 1,258.3 tonnes in the first half of 2024, a 6% increase year-on-year. World Gold Council

key Deal Details

Here’s a summary of the key aspects of the CMOC-Equinox agreement:

Aspect	Details
Acquirer	China Molybdenum Co., Ltd. (CMOC)
Seller	Equinox Gold (via Leagold LatAm Holdings BV & Luna Gold Corp)
Transaction Value	$900 million (plus up to $115 million contingent payment)
Assets Acquired	Gold reserves and mines in Brazil
Projected Gold Production Increase	8 metric tons annually

💡 Pro Tip: Diversifying into gold can be a strategic move for mining companies seeking to mitigate risk associated with fluctuating prices of base metals like copper and cobalt.Gold often performs well during economic downturns, providing a hedge against market volatility.

Implications for the Gold market

CMOC’s increased gold production capacity is expected to have a moderate impact on the global gold supply. However, the company’s efficient mining operations and access to high-quality reserves could allow it to become a significant low-cost producer. Analysts predict that CMOC’s entry into the gold market will intensify competition and potentially drive innovation in mining technologies.

The acquisition also highlights the growing interest of Chinese companies in securing access to global mineral resources. China is the world’s largest consumer of gold, and its companies are actively investing in mining projects around the world to meet domestic demand. What motivated CMOC’s diversification into precious metals?

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background and Historical Context

China Molybdenum Co., Ltd.(CMOC) was incorporated in 2004 and quickly grew from a domestic copper‑molybdenum producer into a global miner with assets across Africa, South America and Australia. The company’s flagship base‑metal project, the Tenke Fungurume copper‑cobalt mine in the Democratic Republic of Congo, was acquired in 2016 and positioned CMOC as one of the world’s largest cobalt producers. After consolidating its base‑metal platform,CMOC began a intentional diversification into precious metals,recognizing that gold offers a hedge against commodity‑price volatility and provides a stable cash‑flow stream.

The first step toward a gold‑focused strategy was the 2022 purchase of a 70