Equinox Gold Completes $1.01 Billion Sale of Brazil Assets to CMOC in Strategic Exit

Equinox Gold Corp. (EQX) has finalized a definitive agreement to divest its Brazilian mining assets to China Molybdenum Company Limited (CMOC), with the transaction valued at $1.01 billion. The portfolio includes several gold and copper-producing operations located in key mining regions across Brazil, contributing to the company's annual output of approximately 450,000 ounces of gold and 15 million pounds of copper. The sale reflects Equinox Gold’s strategic pivot away from high-cost jurisdictions and toward optimizing its core assets in North America and Mexico. The deal positions CMOC, a top-tier Chinese mining group, to strengthen its presence in Latin America and expand its global supply chain for copper and gold—critical commodities in the energy transition and electronics sectors. The acquisition aligns with CMOC’s broader goal of diversifying its resource base beyond China, with the Brazilian assets expected to boost its annual copper production by roughly 12% and gold output by 8%. The transaction is subject to customary closing conditions, including regulatory approvals in Brazil and China, with an anticipated closing in Q2 2026. Market reaction has been immediate: EQX shares rose 6.3% in early trading, while CMOC’s ADR (CMOC) gained 4.1%. Gold (GOLD) and copper (CU) futures also saw slight upticks, reflecting investor confidence in increased supply stability from CMOC’s expanded global footprint. Analysts note that the $1.01 billion price tag implies a valuation of approximately $2.25 per pound of copper equivalent and $2,200 per ounce of gold, consistent with current commodity pricing trends.