You are here
India's Rajesh Exports acquires Swiss gold refiner Valcambi
By Swansy Afonso
Bloomberg News
Monday, July 27, 2015
Rajesh Exports Ltd., India's biggest maker and exporter of gold jewelry, said it bought Swiss gold refiner Valcambi SA for $400 million.
The cash purchase of Valcambi from Newmont Mining Corp. helps ensure gold supplies to India, the world's largest consumer of the metal after China, Bangalore-based Rajesh Exports said in an exchange filing on Monday. Its shares rallied to close at the highest level since at least July 2000.
"On a theoretical basis Valcambi is capable of supplying the entire gold requirement of India," said Chairman Rajesh Mehta. Credit Suisse Group AG has agreed to fund 30 percent to 35 percent of the acquisition through long-term debt, which Rajesh Exports plans to repay through Valcambi's future earnings, Mehta said at a news conference in Mumbai. ...
... For the remainder of the report:
http://www.bloomberg.com/news/articles/2015-07-27/india-rajesh-exports-p...
Buy precious metals free of value-added tax throughout Europe
Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.
Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.
Visit us at www.europesilverbullion.com.
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015
http://noic2015.eventbrite.com/?aff=gata
The Silver Summit and Resource Expo 2015
Hyatt Regency Hotel, San Francisco
Monday-Tuesday, November 23-24, 2015
http://cambridgehouse.com/event/50/the-silver-summit-and-resource-expo-2015
Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:
https://jeffersoncompanies.com/landing/2014-av-powell
Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
