Newmont Sells Stake in Valcambi Gold Refinery in Switzerland for $119M - Newmont (NYSE:NEM)

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Newmont Mining Corporation (NYSE: 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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