China Molybdenum Co. (CMOC) has signed a definitive agreement to acquire two gold mining operations in Brazil for a total consideration of $1 billion. The transaction marks a strategic expansion of CMOC’s precious metals portfolio amid global supply chain diversification efforts.
- CMOC to acquire two gold mines in Minas Gerais, Brazil, for $1 billion
- Combined annual gold production capacity of ~250,000 ounces
- Estimated mine life exceeds 10 years based on current reserves
- Transaction scheduled to close in Q2 2026, pending regulatory clearance
- Part of CMOC’s broader strategy to expand precious metals exposure
- Brazilian assets represent CMOC’s first major gold acquisition outside of Africa and Asia
China Molybdenum Co. (CMOC) has entered into a binding agreement to purchase two operating gold mines in Brazil, located in the state of Minas Gerais, for a total of $1 billion. The acquisition includes the full equity interest in the assets, which have an estimated annual gold production capacity of approximately 250,000 ounces, with a current mine life of over 10 years based on reserve estimates. The deal is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions.