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    Equinox Gold sale of Brazil mines to CMOC: planning and capex notes for engineers

    December 15, 2025|

    Reviewed by Tom Sullivan

    Equinox Gold sale of Brazil mines to CMOC: planning and capex notes for engineers

    First reported on International Mining – News

    30 Second Briefing

    Equinox Gold is divesting its Brazilian portfolio, agreeing to sell 100% interests in the Aurizona open-pit gold mine, the RDM Mine and the Bahia exploration complex to a CMOC Group subsidiary for US$1.015 billion. CMOC Chairman and CIO Liu Jianfeng framed the acquisition as a strategic move into gold, adding to a portfolio better known for copper and cobalt operations such as Tenke Fungurume. The deal signals continued Chinese capital deployment into established Brazilian gold assets, with potential changes ahead in mine planning, capital allocation and regional contractor pipelines.

    Technical Brief

    • Transaction consideration totals US$1.015 billion for the combined Brazilian package.

    Our Take

    Within our 306 Mining stories, Equinox Gold appears frequently in North and South American gold build‑out pieces, so a full exit from Brazil likely signals a capital rotation towards its remaining North American and Mexican growth pipeline rather than portfolio expansion in-country.

    CMOC Group’s move into Brazilian gold, after a track record in base metals and rare earth elements noted in the related coverage, suggests it may leverage its processing and offtake networks to extract more value from the Aurizona, RDM and Bahia assets than a pure-play gold operator could.

    The +US$1 billion consideration for 100% of the Brazilian portfolio places these gold assets at the upper end of recent gold M&A valuations in our database, which may raise price expectations for other mid-tier operators looking to divest Latin American gold mines.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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