第一财经·2025-12-15 09:10Core Viewpoint - Luoyang Molybdenum Co., Ltd. announced a $1 billion acquisition of four gold mines in Brazil, aligning with its strategy focused on copper and gold, while benefiting from rising global metal prices [3][4][5]. Group 1: Acquisition Details - The acquisition involves a total consideration of $1.015 billion for 100% equity of four gold mines, including Aurizona, RDM, and Bahia, with $900 million as an upfront payment and up to $115 million contingent on gold sales in the first operational year [5]. - The transaction is expected to increase the company's annual gold production to 8 tons and is anticipated to be completed in Q1 2026, pending regulatory approvals [5][6]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported revenues of 145.485 billion yuan, a year-on-year decrease of 5.99%, while net profit attributable to shareholders was 14.280 billion yuan, an increase of 72.61% [6]. - The third quarter saw revenues of 50.713 billion yuan, a year-on-year decline of 2.36%, but a quarter-on-quarter increase of 3.99%, with net profit rising 96.40% year-on-year [6]. Group 3: Market Context and Risks - Industry experts suggest that while gold prices may still have room to rise, the significant increases in copper and gold prices this year pose a risk of "buying at a high point" if market conditions reverse [3][9]. - The acquisition is viewed as a strategic move to diversify the company's asset portfolio, but concerns exist regarding the timing of such investments in a potentially peaking market [10][11].