Valcambi loses deal to refine 4-million ounces of Newmont’s gold
US-based Newmont put the contract up for tender in 2018 and has split the business between three of Valcambi's rivals
London — Swiss gold refiner Valcambi has lost a contract to refine about four-million ounces of gold a year from Newmont Mining, one of the world's biggest producers, five sources familiar with the matter told Reuters. US-based Newmont put the contract up for tender in 2018 and has split the business between three of Valcambi's rivals — Asahi in the US and Argor-Heraeus and Pamp in Switzerland, the sources said. "It all went up for tender and different refineries won different pieces [of the contract]," said one source. Valcambi, Argor-Heraeus, Pamp, Asahi and Newmont all declined to comment. Valcambi is the world's largest gold refinery and had processed almost all of Newmont's gold output for about 15 years, the sources said. Newmont owned a majority stake in Valcambi until 2015 when it sold the shares to India's Rajesh Exports. The sources said Newmont would send gold from its mines in the US to Asahi and material from mines in Peru and Ghana to either Pamp or Argor-Heraeus. Newm...
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