China’s CMOC makes US$1 billion Brazil gold push as bullion jumps on rising global risks

South China Morning PostCenter-RightEN 1 min read 100% complete by Igor PatrickJanuary 27, 2026 at 07:45 PM

AI Summary

short article 1 min

Chinese mining giant CMOC has acquired operational control of three gold mines in Brazil for approximately $1 billion, marking its entry into the Brazilian gold sector. The acquisition, finalized on January 23 after regulatory approval, includes the Aurizona, Riacho dos Machados, and Complexo Bahia mines. CMOC stated the move diversifies its business and strengthens its global presence, aligning with its sustainable growth strategy. The deal with Equinox Gold Corp of Canada, announced in December, comes as gold prices reach historic highs due to global economic and geopolitical uncertainty. Equinox received $900 million in cash and could receive up to $115 million more based on performance.

Key Entities & Roles

Key Player Opposition Context

Canada 40% Maranhao 40% Minas Gerais 40% United States 50% Aurizona mine 50% Riacho dos Machados mine 50% Complexo Bahia 50% Equinox Gold Corp 70% China 70% Brazil ×380% CMOC ×590%

Keywords

gold mining 90% cmoc 80% acquisition 70% brazil 70% mining operations 60% gold prices 60% geopolitical risk 50% economic uncertainty 50% safe assets 40%