Umicore sells gold inventories as metal hits record price

Umicore SA

08/10/2025 07:14

Oct 8 (Reuters) - Belgian metal recycling group Umicore UMI.BR is selling its gold inventories for about 410 million euros ($476 million) in a bid to capitalize on the metal's record prices, it said on Wednesday.

Gold prices reached an all-time high on Wednesday, with spot gold and futures rising to over 4,000 dollars per ounce for the first time driven by safe-haven demand by investors.

Umicore said in a statement that it will sell and lease its tied up inventories held within the Jewelry & Industrial Metals and Precious Metals Refining business units.

The sale will generate a net after tax capital gain of 370 million euros and an earnings before interest, taxes, depreciation and amortization (EBITDA) contribution totaling around 480 million euros.

($1 = 0.8610 euros)

 (Reporting by Gianluca Lo Nostro; Editing by Matt Scuffham)

 ((gianluca.lonostro@thomsonreuters.com;))