Luoyang Molybdenum Industry (603993.SH) plans to acquire 100% interest in the Aurizona Gold Mine, RDM Gold Mine, and Bahia Comprehensive Mining Area for US$1,015 million

Zhitong Finance App News, Luoyang Molybdenum Industry (603993.SH) announced that the company's holding subsidiary CMOC Limited and its newly wholly-owned subsidiary, 17536682 Canada Inc., signed an agreement with the Canadian listed company EqX and its wholly-owned subsidiary Leagold Mining Corporation on December 14, 2025, Beijing time.

CMOC Limited plans to acquire 100% interest in the Aurizona Gold Mine, RDM Gold Mine, and Bahia Comprehensive Mining Area through the acquisition of 100% of EqX's shares in LATAM and LGC for US$1,015 million (including $900 million cash payment at the time of delivery and up to US$115 million contingent cash payments linked to sales volume one year after delivery).

According to the announcement, in 2025, the gold production of the Aurizona gold mine is expected to be 70,000 to 90,000 ounces; the gold production of the RDM gold mine is expected to be 50,000 to 60,000 ounces; the gold production guide for the Bahia Comprehensive Mining Area is 125,000 to 145,000 ounces; the total assets include 5.013 million ounces of gold resources, with an average grade of 1.88 g/t; gold reserves of 3.873 million ounces, with an average grade of 1.45 g/t.

After the transaction is completed, the underlying assets LATAM and LGC will be included in the scope of the company's consolidated financial statements. The four gold mines involved in this transaction are all in-production projects. Following the Kegerhaus gold mine, the company once again laid out in South America. Brazil is rich in gold resources and is relatively geopolitically stable. After the transaction is completed, the company's annual gold production is expected to reach 8 tons. The transaction is in line with the company's strategic plan for investment, mergers and acquisitions, focusing on copper and gold, and is conducive to further cultivating the company's resource reserves.