Equinox Gold Corp. said it has completed the sale of its Brazil operations to a subsidiary of CMOC Group for total consideration of up to $1.015 billion, significantly strengthening its balance sheet and accelerating its transition to a North America–focused gold producer. The transaction includes $900 million in cash proceeds received at closing, before adjustments, and a contingent production-linked payment of up to $115 million due on January 23, 2027.

Equinox Gold said it will use the proceeds to immediately repay its $500 million term loan, extinguish $300 million of debt related to the Sprott loan, and reduce balances on its revolving credit facility. As a result, senior debt is expected to fall to about $580 million, with net debt reduced to approximately $150 million, materially lowering interest expense and improving financial flexibility.

Chief Executive Officer Darren Hall said the sale streamlines the company’s portfolio and positions Equinox Gold to self-fund near-term organic growth and potentially pursue capital return initiatives. The company reaffirmed its development pipeline, which could add 450,000 to 550,000 ounces of incremental annual gold production in coming years, and cited 2026 consolidated production guidance of 700,000 to 800,000 ounces as a source of strong cash flow generation.