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Rajesh Exports Acquires Precious Metals Refiner Valcambi For $400M
Jul 28, 2015 4:07 AM
By Ronen Shnidman
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RAPAPORT... Rajesh Exports, an India-based jewelry manufacturer, acquired Valcambi, the world’s largest precious metal refining company for $400 million in cash. Rajesh Exports purchased the Swiss-based refiner from gold and copper mining giant Newmont Mining Corp. and a group of Swiss investors.
Valcambi processed on average 945 tons of gold and 325 tons of silver per year over the past three years, Rajesh Exports noted in a statement announcing the deal.
“On a theoretical basis, Valcambi is capable of supplying the entire gold requirement of India,” said Rajesh Mehta, the chairman of Rajesh Exports. “This acquisition will add significantly to the revenues and profitability of the Rajesh Exports group during the coming years.”
Michael Mesaric, the CEO of Valcambi, and his entire senior management team have agreed to join Rajesh Exports as part of the acquisition to ensure a smooth transition in ownership and the success of future expansion plans, the company said.
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Tags:
metal, Newmont, Rajesh Exports, Rajesh Mehta, refiner, Ronen Shnidman, Valcambi
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