Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Jewellery shops across India, the world’s biggest market after China, will shutter for three days starting Wednesday in a bid to reverse plans by Prime Minister Narendra Modi to impose a 1 percent excise duty, according to the All India Gems & Jewellery Trade Federation.
The government should withdraw the levy announced in Monday’s budget because the industry is suffering from weak demand and high import taxes, Bachhraj Bamalwa, director at the federation, told Bloomberg by phone from Kolkata.