Equinox Gold sells its Brazilian mines to CMOC for up to $1.015bn

CMOC agreed to pay $900m in cash at closing and up to $115m linked to production a year later for the Aurizona, RDM and Bahia mines. Equinox will focus on its Canadian mines, Greenstone and Valentine, and use the cash to cut debt.

Why it matters. Selling non-core mines after a merger lets the buyer repay the debt it took on and sharpen its story for investors.

Source

MINING.COM

In the course

Module 9: The M&A process