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Refining operations at Valcambi began in 1961.
In 1967 Credit Suisse purchased 80% of the company from its founders.
Credit Suisse purchased the remaining 20% of Valcambi in 1980 and the refinery
became a 100%-owned subsidiary of the bank.
In December, 2003 a new company, European Gold Refineries Holding SA (“EGR”)
was formed by the founders of Valcambi (50%) and Newmont Mining Corporation
(50%).
Newmont Mining Corporation (see www.newmont.com )
is the world's largest gold producer with significant assets or operations
on five continents.
The founders of Valcambi is a group of private Swiss investors that have had an
interest in the precious metals business for over 50 years through their marketing
and trading company, Finorafa (see www.finorafa.com) EGR purchased 100% of Valcambi and 66.65% of Finorafa in December 2003.
In July 2007 Mitsubishi Corporation purchased 6.6% of EGR. The remaining share capital is divided between Newmont (46.7%) and private investors (46.7%). |
