（Shanghai） CMOC announced on December 15, 2025 that it has agreed to purchase 100% of the interest in the Aurizona Mine, RDM Mine and Bahia Complex located in Brazil (the “Brazil Operations”) from Equinox Gold Corp. (“Equinox Gold”) for a total consideration of $1.015 billion, including $900 million upfront payment and a contingent payment of up to $115 million based on sales volume during the first year following closing (the “Transaction”). Closing of the Transaction is expected in the first quarter of 2026, subject to regulatory approvals and other customary conditions, and is not subject to any financing conditions.

Equinox Gold, a Canadian mining company listed on the Toronto Stock Exchange and the New York Stock Exchange, owns multiple producing assets and a pipeline of development and expansion projects in Canada and across the Americas.

The Transaction consists of three operating assets including Aurizona Mine located in Maranhão, Northeastern Brazil, Bahia Complex (Fazenda and Santa Luz mines) in Bahia, Eastern Brazil, and RDM Gold Mine in central Minas Gerais, with total resources of 5.013moz of gold contained and reserves of 3.873moz of gold contained. Gold production of the Brazil Operations in 2024 is 247.3koz. 

Liu Jianfeng, Chairman and CIO of CMOC, stated: “The Transaction is an important step that showcases our conviction in gold and delivers on our strategy of pillaring the portfolio on copper and gold. Considering the rich resources and stable geopolitical environment in Brazil, the Transaction offers strategic addition to our existing assets, creating stronger synergy and growing CMOC presence in South America.”

Upon completion of the Transaction, CMOC will add about another 8 tons of annual production to its gold portfolio which has the potential to exceed 20 tons in annual production once the Odin gold mine in Ecuador starts operation. With a stronger base of resources, CMOC will be better positioned to further seek and drive long-term growth in gold. 

Advisor and Counsel

McCarthy Tétrault LLP is acting as Canadian counsel and Mattos Filho is acting as Brazil counsel to CMOC in connection with the Transaction. Canaccord Genuity Corp. is acting as the financial advisor to CMOC.