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Chinese mining giant CMOC pays US$1 billion for Brazilian gold mines with 8 tons of output (www.scmp.com)

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CMOC Group, one of China’s biggest miners, extended its push into precious metals with a US$1 billion deal to buy the Brazilian operations of Equinox Gold. It will take full ownership of two Equinox entities – Leagold LatAm Holdings and Luna Gold – that control several mines or deposits in the South American nation. Equinox will receive US$900 million in cash, plus a contingent payment of as much as US$115 million one year after the deal closes, CMOC said in an exchange filing on Monday. The...

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