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The Valcambi Mint

The Valcambi Mint is a precious metal refining company based in Balerna, Switzerland, managed by Rajesh Exports Limited. The mint is owned by the European Gold Refineries that is a subsidiary of the Global Gold Refineries AG. The latter is owned by REL Singapore Pte Ltd (95%) and Rajesh Export Limited India which owns 5%.

Rajesh Exports controls the Valcambi Mint 100%. The mint refines silver, gold, and palladium bullion coins, and bars. The mint is one of the biggest precious metal refining facilities on earth producing more bullion coins and bars than the rest. Other services the company provides include precious metal assaying, transportation, and storage services.

The Valcambi Mint was founded on May 15, 1961, originally named Valori & Cambi. The mint was built by a group of five Swiss entrepreneurs from Mendrisio. The mint’s name was changed to Valcambi on June 30, 1967. In the same year, Credit Suisse bought 50% of the mint and later acquired 30% more in 1968. Credit Suisse acquired the remaining 20% in 1980, which gave it 100% control over the mint.

The European Gold Refineries SA bought 100% of the mint for about $400 million. Switzerland is not a mineral-rich country. Nevertheless, most countries around the world send their precious metals to Switzerland to be refined. The country is known for refining high-quality bullion products that are popular among investors.

It’s estimated that the mint processes over 2,000 tons of precious metals annually. The mint produces fine bullion products like gold and platinum bars of the highest purity level. Additionally, the mint produces other gold, silver, palladium, and platinum products.

The Valcambi mint supplies gold coins and bars to international central banks, organizations, and governments. In addition to precious metal bullion coins and bars, the mint also produces collectible gold items and gold-grain watch cases.

The Valcambi mint has attained great success in refining precious metals to produce high-quality bullion coins. When the company was founded in 1961, it was called Valori & Cambi. The company changed its name to Credit Suisse seven years later when it was merged with the London and Comex Good Delivery. The company operated under the London label for decades.

The European Gold Refineries bought the Valcambi mint and this made Credit Suisse withdraw its shares from the mint. From 2004 to 2009, the mint undertook several strategic changes. These included implementing a new business model, acquiring new leads, and forging a partnership with Newmont and many other banks.

In 2014, the Valcambi mint celebrated its 50th anniversary as a producer of high-quality bullion products. During the event, the company announced a reorganization, a new logo, and a product invention department. These were created to help deal with the complex economic situation. From 2015, the Global Gold Refineries Limited, Singapore owned the Valcambi mint.

The Valcambi mint has changed in terms of ownership. For many years until 2003, Credit Suisse controlled the mint. The mint was sold to Newmont Mining, a gold-producing company that had majority shares in the mint. In 2007, the Mitsubishi Corporation bought a percentage of the mint. Rajesh Exports Ltd, the biggest Indian Jewelry dealer bought the Valcambi mint in 2015.

The mint also deals with high-value clients such as renowned international banks. The mint produces its bullion product through quality workmanship. Its products are distinguishable and recognized in the global market for precious metals. The global demand for bullion products from the Valcambi mint is enough evidence that the company produces excellent bullion products.

For instance, the company is the producer of the famous Responsible Gold Bullion series made from the Valcambi Green Gold. All the products from the company come in standard gold, silver, platinum, or palladium. In 2011, the Valcambi was given an exclusive license to manufacture the CombiBars. These bars are cast based on the Valcambi investment product standards that include a specific name and logo for the product. The custom bars are sold to investors who buy in large volumes.

Banks and dealers in precious metals are allowed to order up to 100 CombiBars directly from the Valcambi SA, in Balerna. The mint allows investors to buy gold bars in all sizes ranging from 1 gram to 1 kilogram. For example, the 1-ounce CombiBar is the most popular among investors. Gold bars from the mint are available for storage in secure voltages or can be delivered worldwide.

Valcambi SA is ranked as one of the leading international gold bullion manufacturers headquartered in Balerna, approximately 2 km from Chiasso in southeastern Switzerland. The mint is located near an international airport called Milan Malpensa that is a 30-minutes drive from Balerna. The refining of gold and the manufacture of bars and other precious metal products take place in Balerna. The company runs from a 3.3-hectare site.

The mint is a private company with two major shareholders. They include the Newmont Mineral Holding BV that commands 60.6% and Private Equity 39.4%. The Valcambi mint has several accreditations that include the London Bullion Market Association (LBMA) 1968, the CME Group-Market Contract (COMEX) 1974, and the Tokyo Commodity Exchange (TOCOM) 1982. In 2005, the mint received accreditation from the Dubai Multi Commodities Centre (DMCC). 

The mint is also accredited by the Central Office of Precious Metal Control, Berne Swiss Association of Manufacturers and Traders in Precious Metal. The Valcambi mint is ISO certified receiving ISO 9001: 2008-Quality management systems and ISO 14001: 2004-Environment management systems.

The Valcambi mint has retained its association with Credit Suisse despite the change in ownership. The mint still manufacturers the cast and minted bars stored in the bank for the last 40 years. The company also mints the London Good Delivery silver bars from 1972 and the London Good Delivery platinum and palladium bars from 1997.

Apart from producing gold bullion, the company also refines silver, platinum, and palladium bars. The mint also produces silver products for the silver and PGM industries. The mint employs over 177 people.

The Valcambi mint offers different gold services to merchants dealing in gold products. The services the mint offers include:

The mint also accepts specific gold items for refining to a specified purity level mostly .9999. The gold refining techniques the mint uses include electrolysis and wet chemical processing.

Bullion Coins and Medals from the Valcambi Mint

The Valcambi mint has created, designed, and produced several numismatic coins and medals over the years. For instance, the mint was the first to produce the half-gram medal in gold and silver. The medal was sold to collectors and used for numismatic purposes.

The mint cut coins and medals from rolled metal sheets. The coins and medals have a high-quality finished with guaranteed purity levels. The company has technology that enables it to manufacturer all types of gold alloy products in-house. Valcambi uses the latest technology and skilled craftsmanship to come up with high-quality commemorative medals and legal tender.

The Valcambi mint also provides related services such as artwork creation, design, plasterwork, special project, die preparation, and creating high-quality semi-finished products. All the medals and coins produced by the mint are certified by a special laboratory. The products are also inspected by specialists and packed individually before shipping.

Valcambi Gold Bars

The mint produces different types of 8 cast and 23 minted bars. The cast bars include 400 Oz, 1000 g, 500 g, 250 g, 10 tola, and 5 tola bars. The minted bars include the 1/2 to 1000 g bars and the 1 Oz bar. The mint also manufacturers the 50 g, 20 g, and 1 Oz bars.

The Valcambi mint also produces customized bars for many other banks and companies including the notable Credit Suisse. In 2003, the mint launched different types of bars for the international market. Furthermore, the Valcambi mint is known as the first mint to have produced the 1000 g and 1 Oz minted bars in 1967.

The mint has its in-house designers and manufacturers conversant with master tools and dies used in refining precious metals. The cast bars from the mint come packed in boxes with the standard quantity that includes the 400 Oz, 1000 gram, and 500 g gold bars. Cast bars also come in 250 g, 40 g, 50 g, and 10 tolas. All the bars come packed with assayer’s certificates.

In 2003, the Valcambi mint issued 8 rectangular bars. The bars were in ½ oz and 1 oz weights with different dimensions. In the same year, the mint released an extensive range of 14 round minted bars that came in 1-100 g, ½-1 oz, and 1-5 tola.

The mint released 14 oval minted bars in 2007. The bars had a hole and came in 1 g to 100 grams. In 2008, the company released a new kilobar gold bar followed by the 500 grams and 250 grams minted bars that came out in 2009. Within the same year, the company produced the Green Gold bars. These bars enabled wholesale customers to trace the location each bar came from.

In 2011, the company released innovatively minted gold bars that comprised 50 detachable 1 gram bars. The bars are popularly called CombiBar, which were designed to enable people to give small golden gifts. In 2013, the mint availed a new official stamp that was applied to the CombiBar. All bullion products from the company later bore the symbol.

Gold bars from the Valcambi mint are very popular among investors. The bars are known worldwide and are sold at low premium rates. This makes the bar a very popular option among bullion investors. The most popular gold bars from the mint are the 1-ounce gold bar and the 100-gram Valcambi gold bar.

Investors in North America and the UK prefer the 1-ounce bar from the Valcambi mint. Investors from the EU prefer the 100-gram gold bar from the Valcambi mint. Investors from Europe like to buy gold bars denominated in ounces.

Revenue and Sales Patterns 

In 2019, the Valcambi mint has a total income of approximately 24, 010, 143.17 million dollars. In 2020 the mint had a total income of about 26,715,689. 15 million dollars. This represented an increase of 11.25% in revenue. Currently, the mint is refining over 907.49 tons of gold. More than 582 tons are used to manufacture bullion coins and bars. Another 170.82 tons of gold is used to manufacture jewelry and gold products.

The mint refunds about 154.12 tons of gold after all the works are done. Approximately 125 tons of gold is minted into bars that are exported to other countries across the world. An additional 37.85 tons of gold from the mint are sold in India, the UAE, and directly to retail showrooms. More than 7 tons of gold are sold directly to consumers branded as SHUBH jewelers.

The Valcambi mint has a strong revenue base with all the indicators showing that the mint is likely to be profitable in the future. For instance, the mint has a global presence across the entire value chain gold supply. Furthermore, the mint offers the lowest cost to jewelry producers and creates high-quality gold products with demand in the global market.

Other indicators that show a strong performance in the future include the establishment of an extensive global marketing and distribution network by the mint. The mint also boasts of the largest refining/manufacturing facility in addition to a strong research and development department. The Valcambi mint is run by a professional management team. These factors contribute to better performance in the future. 

Valcambi Mint’s Distribution Channels

The mint has wholesale distributors in India and the Middle East that supply gold jewelry directly to showrooms. The mint supplies over 5,000 showrooms in India and the Middle East with jewelry. The mint has its retail outlets under the brand name SHUBH Jewelers with 83 showrooms in India. The Valcambi mint exports gold bars to almost all the gold markets in the world.

References and Links

[1]Wikipedia, “Valcambi,” 22 February 2021. [Online]. Available:
[2]Grendon International Research Pty Ltd, 2014. [Online]. Available:
[3]Valcambi SA, “Coins & Medals,” 2021. [Online]. Available:
[4]” Valcambi Mint Investor Presentation 2020,” Rajesh Export Limited, 2020. [Online]. Available:

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