(January 25, 2026 – Shanghai) CMOC announced the closing of the previously disclosed acquisition of gold mining assets in Brazil. The Company originally announced the transaction on 15 December 2025, agreeing to acquire 100% of the issued and outstanding shares of three gold asset packages - the Aurizona mine, the RDM mine, and the Bahia complex (comprising four mines) - from Equinox Gold Corp. for a total consideration of up to US$1.015 billion. Following the satisfaction or waiver of all conditions precedent under the agreement, the transaction was officially completed on 23 January.

The acquired gold assets have substantial resources: gold mineral resources of 5.013 million ounces (approximately 156 tonnes) at an average grade of 1.88 g/t, and gold reserves of 3.873 million ounces (approximately 120 tonnes) at an average grade of 1.45 g/t. The assets also benefit from well-established infrastructure and mature processing technologies, enabling immediate production and profit contribution. This allows the Company to capture current market opportunities, achieve solid financial returns, and shorten the payback period. CMOC expects these assets to produce 6 to 8 tonnes of gold this year.

Liu Jianfeng, Chairman and Chief Investment Officer of CMOC, commented: “From announcement to closing, this transaction took only 40 days. Leveraging our nearly ten years of operational experience in Brazil, together with our strengths in management, technology and synergies, we achieved efficient execution and rapid implementation. Going forward, the Company will accelerate management integration to further unlock production capacity and deliver value from these projects.”

In June 2025, CMOC completed the acquisition of the Odin gold mine in Ecuador, marking its initial entry into gold resources. The Brazilian gold assets represent another major step in CMOC’s gold strategy, strongly advancing the Company’s “Copper+Gold” strategic focus. The Odin gold mine in Ecuador is currently in the preliminary design phase, and once in production, the Company’s annual gold output is expected to exceed 20 tonnes.

CMOC remains positive on the long-term outlook for the gold market and is actively seeking further expansion opportunities. On 19 January, the Company issued US$1.2 billion in convertible bonds due 2027 to provide ample funding for subsequent acquisitions. Looking ahead, CMOC will continue to strengthen its resource base and drive the long-term, sustainable development of its gold business.