- Newmont Mining (NYSE:NEM +0.8%) agrees to sell its 60% stake in the Valcambi gold refinery in Switzerland to a subsidiary of Indian jewelry company Rajesh Exports Ltd. for $119M
- NEM says the sale is part of its plan to get back to its basics after buying its equity interest in the refinery 11 years ago.
- Rajesh, the world's largest gold jewelry maker, says Valcambi's technology will help raise the capacity of its Indian refinery to 200 metric tons/year next year from 80 metric tons currently.