Changes in Hong Kong stocks | Luoyang Molybdenum Industry (03993) recently invested nearly 3% to acquire Brazilian gold mining assets to implement the company's “copper-gold bipolar” merger and acquisition strategy

The Zhitong Finance App learned that the Luoyang Molybdenum Industry (03993) rose by nearly 3%. As of press release, it rose 2.68% to HK$18.76, with a turnover of HK$21.487 million.

According to the news, Luoyang Molybdenum Industry recently announced that its holding subsidiary CMOC Limited plans to use US$1,015 million (including payment of US$900 million in cash at the time of delivery and up to US$115 million contingent cash payment linked to sales one year after delivery) through the acquisition of Leagold LaTam Holdings B.V. (hereinafter referred to as “LaTam”) under the Canadian listed company EQX (hereinafter referred to as “LaTam”) and its wholly-owned subsidiary Luna Gold Corp. (hereinafter referred to as “LGC”) Equity, obtained 100% interest in the Aurizona Gold Mine, RDM Gold Mine, and Bahia Comprehensive Mining Area.

The Luoyang Molybdenum industry responded that the Luoyang Molybdenum industry is optimistic about the long-term market prospects of gold assets, and that purchasing Brazilian business assets is a major step for the company to implement the “copper-gold bipolar” merger and acquisition strategy. The company believes that Brazil is rich in resources and has relatively stable geopolitics. The project will have a good synergy effect with Luoyang Molybdenum's Brazilian niobium and phosphorus assets to further deepen the company's resource layout in South America.

Luoyang Molybdenum said that once delivery in the first quarter of 2026 is completed, the annual output of the company's gold business will increase by about 8 tons, increase the company's gold resource reserves, enhance the company's performance, and form a gold resource package with the Ecuadorian gold mine, making full use of the synergy between the two and the synergy within the region to further create a template for the company's platform-based resource enterprise. After Ecuador's Odin Mining is put into operation in the future, the company's annual gold production is expected to break the 20-ton mark.