(CMOC) - CMOC has announced that it has completed the closing of its previously disclosed acquisition of Brazilian gold assets. The company first unveiled the transaction on December 15, 2025, with a plan to acquire 100% ownership of the Aurizona Gold Mine, the RDM Gold Mine and the Bahia complex from Canada-based Equinox Gold, for a total consideration of up to USD 1.015 billion. With all closing conditions met or waived, the transaction was officially completed on January 23.

The acquired assets feature sizeable resources - gold resources totaling 5.013 million ounces (approximately 156 tonnes) with an average grade of 1.88 g/t, and gold reserves of 3.873 million ounces (around 120 tonnes) with an average grade of 1.45 g/t. Backed by mature processing technology and well-developed infrastructure, these assets are expected to immediately contribute to CMOC’s production and earnings, enabling the company to seize favorable market opportunities, generate strong economic returns and shorten its payback period. CMOC forecasts that the assets will produce 6–8 tonnes of gold in 2026.

Liu Jianfeng, Chairman and Chief Investment Officer of CMOC, stated: “Only 40 days elapsed between the announcement and the closing of this transaction. Leveraging nearly a decade of operational experience in Brazil, along with our strong capabilities in management, technology and business synergies, we achieved an efficient and rapid execution. Going forward, we will accelerate management integration and unlock further production potential to fully realize the value of these assets.”

CMOC formally entered the gold sector in June 2025 when it completed the acquisition of Odin Mining in Ecuador. The Brazilian assets represent another major step in CMOC’s strategic expansion in gold, reinforcing the company’s “copper + gold” growth strategy. Odin Mining is currently in the design phase, and once commissioned, CMOC’s annual gold production is expected to exceed 20 tonnes.

The company remains optimistic about the long-term outlook of the gold market and is actively exploring additional opportunities for expansion. On January 19, CMOC issued USD 1.2 billion in convertible bonds to further strengthen its funding capacity for future acquisitions. CMOC will continue to enhance its resource portfolio and promote the long-term, stable growth of its gold business.