EQN meaning in Business ?

Equinox Minerals is a mining and exploration company with corporate offices in Perth, Australia and Toronto, Ontario, Canada. It has operations in Peru and Australia. In Zambia it owned the Lumwana Mining Company, but that was bought by Barrick Gold in 2011. Through Liontown Resources Limited and Alturas Minerals Corp., the company has gold and copper-gold exploration interests in Peru and Australia.The Lumwana project which had enough reserves to be productive for 37 years, cost the company one billion dollars to develop.In Zambia it has been credited with supporting social development through projects which aim to build schools, attract professionals to areas around its mine sites. 2010 copper production was 323.4 million pounds (146,690 tonnes) 68% higher than in 2009 (192.1 million pounds).

The company produced slightly more copper than it sells (In 2010 323.4 vs 290.2 million pounds up from 2009 when it was 290.42 vs 179.72 million pounds), 77% of production occurred during the first nine months of the year (production was 113 kt, sales were 98kt); capital expenditure amounted to $66 million. In September 2010 company debt was $433 million, long term debt fell significantly in the last quarter of 2010 from $422 million down to $295.57 million. Even though Equinox doesn't produce gold Barrick Gold, the world's largest gold company (both in terms of reserves and production) acquired Equinox Minerals in April 2011; the deal will lower the fraction of revenue Barrick receives from the sale of gold to 80%.