Pursuits
India’s Rajesh Exports Acquires Newmont’s Swiss Gold Refiner
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Rajesh Exports Ltd., India’s biggest exporter of gold jewelry, agreed to buy Swiss refiner Valcambi SA from owners including Newmont Mining Corp. for $400 million.
The cash purchase helps ensure gold supplies to India, the largest consumer of the metal after China, Bangalore-based Rajesh Exports said in an exchange filing on Monday. Its stock rose to close at the highest level since at least July 2000, while shares in Newmont, the largest U.S. gold producer, fell.