CMOC Group Ltd Acquires Lumina Gold

CMOC Group Ltd, a Chinese mineral mining and exploration company, has entered into an agreement to acquire Lumina Gold, a Canadian mining company with gold deposits in Ecuador. The acquisition is an all-cash transaction, with CMOC offering C$1.27 per share for all outstanding shares of Lumina Gold.

Acquisition Details

• The acquisition price has been reported as approximately C$581 million.
• The transaction is expected to expand CMOC’s portfolio and provide access to a major gold deposit.

Background on CMOC Group Ltd

CMOC is a Chinese mineral mining and exploration company specializing in non-ferrous metal mining and trading. The company’s stock price has experienced fluctuations in recent times.

Impact of the Acquisition

The acquisition is expected to have a positive impact on CMOC’s future prospects. This move is seen as a strategic expansion for CMOC, aligning with the company’s focus on non-ferrous metal mining and trading.