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Newmont Mining Corporation
NEM
announced it has closed the sale of its equity stake in the Valcambi
gold refinery in Switzerland to a subsidiary of Rajesh Exports Ltd
("REL") for total net proceeds of US$119 million. Newmont will continue
its existing refining relationships with Valcambi under the new
ownership structure.
"This sale further strengthens Newmont's balance sheet and enhances our
focus on our core business," said Randy Engel, Executive Vice President
for Strategic Development. "Since mid-2013, we have executed $1.6
billion in non-core asset sales, allowing us to further pay down debt,
invest in new, profitable production and return capital to shareholders."
The Valcambi
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