China’s CMOC Agrees to Buy Brazilian Gold Mines for $1 Billion
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000CMOC Group, one of China’s biggest miners, expanded its push into precious metals with a $1 billion deal to buy the Brazilian operations of Equinox Gold Corp.The agreement includes two Equinox entities — Leagold LatAm Holdings BV and Luna Gold Corp. — that control several gold deposits or mines in the Latin American nation. Equinox will receive $900 million in cash, plus a contingent cash payment of as much $115 million one year after the deal closes, CMOC said in a statement.