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China’s CMOC Group Ltd. has signed a $1.7 billion agreement with Ecuador to develop the Los Cangrejos gold mine in El Oro province, according to the country’s environment and mining ministry. The project will be developed through CMOC’s local unit ODIN Mining del Ecuador SA and remains in the design phase, with the agreement aimed at accelerating implementation. CMOC acquired the asset via its takeover of Lumina Gold last year. Its Hong Kong-listed shares fell as much as 4.1% after the announcement.

CATL PLANS H-SHARE PLACEMENT TO RAISE OVER HK$39 BILLION