Newmont Mining Corp: Key Developments
Newmont Mining Corporation And Sumitomo Complete 10% Share Sale Of PTNNT For $391 Million
November 16, 2009 |
| Newmont Mining Corporation announced that its subsidiary, Newmont Indonesia Limited, together with Nusa Tengarra Mining Corporation (NTMC) (an affiliate of Sumitomo Corporation), completed the transfer of 10% of PT Newmont Nusa Tenggara (PTNNT) (3% for the 2006 divestiture and 7% for the 2007 divestiture) to PT Multi Daerah Bersaing (PTMDB), a consortium comprised of regional and local governments near the Batu Hijau mine, and PT Multicapital, a private company. Newmont received its pro-rata 56.25% of the proceeds totaling $391 million earlier today. |
Newmont Mining Corporation Announces Intention To Delist From ASX
November 8, 2009 |
| Newmont Mining Corporation announced that it intends to seek removal from the official list of the ASX Limited (ASX) listed companies and suspend trading of its CHESS Depositary Interests (CDIs), effective market close of February 10, 2010. The Company reports a low level of CDIs quoted on the ASX with low levels of trading when compared to other exchanges. These factors make it unlikely that the Company would seek to raise further equity capital via its ASX listing. In light of these considerations the Company made the business decision to delist from the ASX. The Company's common stock continues to be traded on the New York Stock Exchange (NYSE). |
Newmont Mining Corporation Declares Regular Quarterly Dividend
October 28, 2009 |
| Newmont Mining Corporation announced that its Board of Directors declared a regular quarterly dividend of $0.10 per share of common stock, payable December 29, 2009 to holders of record at the close of business on December 8, 2009. In Australia, CHESS Depository Nominees Pty Ltd (CAN 071 346 506) is the stockholder of record of the underlying shares of Newmont common stock. Holders of the CHESS Depository Interests (CDIs) are entitled to receive the dividend on a basis of ten CDIs-for-one share of common stock. |
Newmont Mining Corporation Announces Acquisition Of License From Newmont Ghana Gold Limited
October 19, 2009 |
| African Queen Mines Ltd. announced that it has entered into a Purchase & Sale Agreement with Newmont Ghana Gold Limited (NGGL), the Ghanaian subsidiary of Newmont Mining Corporation, under which NGGL is transferring the License directly to the company`s Ghanaian subsidiary AQ Ghana Gold Ltd. (AQGGL), to be held in trust for the joint venture partners in accordance with the Akan Agreement. Under the terms of the Purchase and Sale Agreement between AQGGL and NGGL, entered into simultaneously with the Akan Agreement, NGGL has agreed to transfer the License to AQGGL, immediately upon approval of Ghana`s Minister of Lands, Forestry and Mines as is customarily required. AQGGL has agreed to pay NGGL in consideration for the transfer of the License the total sum of USD850,000, USD100,000 of which was due upon execution and has been paid, USD250,000 of which is due upon final transfer of the License to AQGGL, USD250,000 of which is due one year from the date of execution, and USD250,000 of which is due on commercial production as defined. Newmont retains a 2% NSR on all production from the License, subject to a buy-back in favor of AQGGL for 1% thereof on specified terms, and Newmont retains a right of refusal to meet third party offers to acquire the Project under certain circumstances, as well as a right to reacquire the Project upon abandonment. Newmont is providing AQGGL. |
Newmont Mining Corporation Realizes $1,966 Million On Completion Of Senior Notes Offering
September 18, 2009 |
| Newmont Mining Corporation announced that it has realized aggregate net proceeds of approximately $1,966 million, after deducting estimated discounts and expenses, on the closing of its public offering of Senior Notes consisting of 5.125% Senior Notes due 2019 in the principal amount of $900 million, and 6.250% Senior Notes due 2039 in the principal amount of $1.1 billion. The offering was made pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission. The Company intends to use the net proceeds of this offering for working capital and for general corporate purposes, including costs of exploration, development of the Company's project pipeline and acquisition initiatives that may become available to the Company, although no specific acquisitions have been identified as of the date of this news release. Pending those uses, the Company intends to repay a portion of the Company's senior revolving credit facility and place the remaining proceeds in short-term liquid investments. |
Newmont Mining Corporation Announces Proposed Senior Notes Offering
September 15, 2009 |
| Newmont Mining Corporation announced its intention to offer its senior notes. The offering will be made pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission. The notes will rank equally with the Company's existing and future unsecured senior debt and senior to the Company's future subordinated debt. The notes will be guaranteed on a senior unsecured basis by the Company's subsidiary Newmont USA Limited. This guarantee will be the unsecured senior obligation of Newmont USA Limited. The Company intends to use the net proceeds of this offering for working capital and for general corporate purposes, including costs of exploration, development of the Company's project pipeline and acquisition initiatives that may become available to the Company. Deutsche Bank Securities and UBS Investment Bank are the joint book-runners for the offering. |
Newmont Mining Corporation Launches $2 Billion Two Part Bond Offering-DJ
September 15, 2009 |
| Dow Jones reported that Newmont Mining Corporation launched a $2 billion debt offering. The two-part issue will include $900 million of 10-year bonds, launched at a spread of 175 basis points over Treasurys and a $1.1 billion 30-year piece, launched at a spread of 210 basis points over Treasurys. Both pieces were launched directly in line with preliminary price guidance levels. Proceeds will be used as working capital and for general corporate purposed including exploration and development and to repay the Company's credit facility balance. |
Newmont Mining Corporation Announces Pricing On Senior Notes Offering
September 15, 2009 |
| Newmont Mining Corporation announced the pricing of its public offering of $2.0 billion of Senior Notes consisting of: 5.125% Senior Notes due 2019 in the principal amount of $900 million, and 6.250% Senior Notes due 2039 in the principal amount of $1.1 billion. Subject to customary conditions, the offering is expected to close on September 18, 2009. The offering was made pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission. The Company estimates that the net proceeds from the offering will be approximately $1,966 million, after deducting estimated discounts and expenses. The Company intends to use the net proceeds of this offering for working capital and for general corporate purposes, including costs of exploration, development of the Company's project pipeline and acquisition initiatives that may become available to the Company, although no specific acquisitions have been identified as of the date of this news release. Pending those uses, the Company intends to repay a portion of the Company's senior revolving credit facility and place the remaining proceeds in short-term liquid investments. Deutsche Bank Securities and UBS Investment Bank are the joint book-runners for the offering. |
Apollo Gold Corporation Purchases Property Contiguous to its Black Fox Mine from Newmont Mining Corporation's Newmont Canada Corporation
September 10, 2009 |
| Apollo Gold Corporation announced that it has acquired from Newmont Canada Corporation (Newmont), a subsidiary of Newmont Mining Corporation certain mineral properties located in the Township of Hislop, Ontario, Canada which are contiguous to the southeast boundary of Apollo`s Black Fox Project and the northwest boundary of Apollo`s Grey Fox Property. This newly acquired property, known as the Pike River Property, consists of the surface and mineral rights to approximately 1,145 acres consisting of parcels 1735 LC, 1726 LC, 23687 SEC, 23777 SEC, 3852 SEC and 11125 SEC. Pursuant to the terms of the purchase agreement, Apollo paid to Newmont the sum of CAD100,000 and granted to Newmont a perpetual 2.5% net smelter production royalty from the sale or other disposition of all materials produced from the Pike River Property. In addition, as further consideration, within 30 days following the earlier of (i) the date that at least 500,000 ounces of gold equivalent minerals sufficient to be reported pursuant to Canadian National Instrument 43-101 (NI 43-101) combined reserves (proven and probable) and resources (measured, indicated and inferred) are determined to exist within the Pike River Property, or (ii) the commencement of commercial production from any portion of the Pike River Property, Apollo shall pay to Newmont the additional sum of CAD1 million. |
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