China $52 Billion Mining Giant CMOC Buys Canada $10.9 Billion Gold Mining Company Equinox Gold 2 Entities (Leagold LatAm Holdings & Luna Gold) in Brazil for $1.1 Billion ($900 Million Cash & $115 Million Contingent Payment), CMOC Founded in 1969 as China State-Owned Enterprise & Later Named as China Molybdenum Company, Current Market Value at $52 Billion, Share Price +165.9% YTD, +145.4% Last 12 Months & +245.8% Last 5 Years
16th December | Hong Kong
China mining giant CMOC ($52 billion market value) has announced to buy Canada gold mining company Equinox Gold ($10.9 billion market value) 2 entities (Leagold LatAm Holdings & Luna Gold) in Brazil for $1.1 billion ($900 million cash & $115 million contingent payment). CMOC was founded in 1969 as a China state-owned enterprise, and later named as China Molybdenum Company. CMOC current market value at $52 billion, with share price +165.9% YTD, +145.4% last 12 months & +245.8% last 5 years. CMOC – CMOC or CMOC Group Limited is a public holding company created in 1969, engaged in the mining, processing, and trading of base and rare metals. Its main mining assets are located in the Democratic Republic of the Congo (DRC), China and Brazil, and its metal trading business spanned 80 countries, making CMOC one of the world’s largest producers of tungsten, cobalt, niobium and molybdenum, as well as a leading copper producer. CMOC’s vision is to ensure a responsible supply of metals for the sustainable energy sector in order to meet the needs of the global energy transition, as it advocates a more sustainable development for the mining industry and the well-being of humanity. As a key player in the mining industry, CMOC is committed towards the environment – through its innovation to support the ecological transition or its carbon-neutral strategy -, the community – by conducting activities that promotes positive and open relationships with local communities and its support of the United Nations Sustainable Development Goals – and to a responsible governance based on equality respect for international standards and transparency. Overview – CMOC Group Limited (hereinafter referred to as “CMOC” or the “Company”) was founded in 1969 and subsequently completed two mixed ownership reforms, in 2004 and 2014, respectively. CMOC is now a joint stock company with a private company as its controlling shareholder. It was listed on Hong Kong Exchanges (HKEX: 03993) in 2007 and the Shanghai Stock Exchange (SSE: 603993) in 2012. The Company engages in the non-ferrous metal mining and processing business, which includes the mining, beneficiation, smelting and refining of base and rare metals, and mineral trading business. With its main business activities spread over four continents: Asia, Africa, South America, and Europe, the Company is the world’s leading producer of copper, cobalt, molybdenum, tungsten, and niobium and a leading producer of phosphate fertilizer in Brazil. In terms of trading business, the Company is among the world’s leading metal traders. The Company ranks 145 among Fortune 500 China companies in 2024, 621 among Forbes Global Listed Companies 2000 in 2024, 19 among the top 50 global mining companies(by market capitalization)in 2024. The Company’s vision is to become a “highly respected, modern and world-class resource company”. In the context of carbon neutrality global strategy, the Company has formulated a “three-step” development path, of which the first step is to “lay a foundation” of low cost and high efficiency that focuses on system and team building via organization upgrade and a corporate management system that covers global operations. The second step is to multiply production capacity by a“ramp up” in the construction and commissioning of two world-class projects, the TFM mixed mine project and KFM copper-cobalt mine project. This step aims to deliver a modern and effective corporate governance structure with a clear division of responsibilities and a strong team that is tested through involvement in world-class projects that are launched to expand our production capacity. The third step is to achieve “stellar growth” towards a world-class company and our vision where new milestones are achieved in business size and cash flow, where teams and project pipelines are more robust, and where we are prepared to pursue greater growth around our strategic goals in key regions and key products.
“ China $52 Billion Mining Giant CMOC Buys Canada $10.9 Billion Gold Mining Company Equinox Gold 2 Entities (Leagold LatAm Holdings & Luna Gold) in Brazil for $1.1 Billion ($900 Million Cash & $115 Million Contingent Payment), CMOC Founded in 1969 as China State-Owned Enterprise & Later Named as China Molybdenum Company, Current Market Value at $52 Billion, Share Price +165.9% YTD, +145.4% Last 12 Months & +245.8% Last 5 Years “
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China $52 Billion Mining Giant CMOC Buys Canada $10.9 Billion Gold Mining Company Equinox Gold 2 Entities (Leagold LatAm Holdings & Luna Gold) in Brazil for $1.1 Billion ($900 Million Cash & $115 Million Contingent Payment), CMOC Founded in 1969 as China State-Owned Enterprise & Later Named as China Molybdenum Company, Current Market Value at $52 Billion, Share Price +165.9% YTD, +145.4% Last 12 Months & +245.8% Last 5 Years
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