Brazilian Firm Fights Equinox Gold Asset Sale to CMOC

A Brazilian state-run company is taking legal action to try to block the sale of a precious metals asset by Equinox Gold Corp. to one of China’s biggest miners.

Companhia Baiana de Produção Mineral, or CBPM, is seeking an emergency injunction for the immediate repossession of a lease area in Bahia, a state in Brazil’s Northeast Region, according to a document seen by Bloomberg News. It argues that Canada-based Equinox was a leaseholder – not the owner – of the concession and therefore was not entitled to sell it.