Newmont Mining Corporation Announces Pricing Of Senior Notes Offering

Newmont Mining Corporation announced the pricing of its public offering of $2.5 billion of senior notes, consisting of 3.500% senior notes due 2022 in the principal amount of $1.5 billion and 4.875% senior notes due 2042 in the principal amount of $1.0 billion (Notes). The offering is expected to close on March 8, 2012. The Notes will be guaranteed on a senior unsecured basis by the Company's subsidiary Newmont USA Limited. The Company estimates that the net proceeds from the offering will be approximately $2,460 million, after deducting estimated discounts and expenses. The Company intends to use the net proceeds of this offering for repayment of the outstanding balance under the Company's senior revolving credit facility; settlement of certain forward starting swaps contracts, remaining payments to be made during 2012 in connection with the exercise of the early purchase option under the sale-leaseback agreement relating to the Company's refractory ore treatment plant in Nevada; and general corporate purposes (which may include funding associated with exploration, the development of the Company's project pipeline or dividends or other forms of capital return to the Company's shareholders). The Company intends to place the remaining proceeds in short-term liquid investments. Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as the joint book-running managers for the offering.