BEIJING/BRASÍLIA – As gold prices surged to unprecedented levels, one of China’s largest mining companies has made a strategic move to secure resources abroad, spending approximately $1 billion to acquire three gold mines in Brazil, according to people familiar with the matter.

The acquisition underscores a dual trend: Chinese firms are aggressively pursuing offshore mining assets to feed domestic demand and diversify supply, while Brazil, a key Belt and Road partner, continues to attract capital for its resource sector. The deal expands China's commodity footprint in Latin America at a time when gold is being sought both as a financial hedge and a critical industrial material.

The investment reflects a calculated bet on the long-term value of the precious metal, which has rallied amid global economic uncertainty and shifting monetary policies. For Brazil, the influx of Chinese capital supports the development of its mining industry, while for China, it represents another step in securing strategic resource flows under its broader global economic framework.Editor/Cao Tianyi