Newmont Continues to Divest Non-Core Assets with Sale of 5.4% Equity Interest in Paladin Energy


DENVER--(BUSINESS WIRE)-- Newmont Mining Corporation (NYSE: NEM) (“Newmont” or the “Company”) announced today that the Company has sold its 5.4 percent equity interest in ASX-listed Paladin Energy Ltd. through a block sale agreement with UBS Australia. The Company’s ownership interest in Paladin was established through its acquisition of Fronteer Gold in 2011.

“The sale of Paladin will generate over $24 million in cash and reflects Newmont’s ongoing strategy to divest non-core assets, some of which are included in the Company’s marketable securities portfolio,” said Randy Engel, Executive Vice President of Strategic Development. “Newmont will continue to evaluate its holdings and may, from time to time, divest other equity positions and assets under favorable conditions and terms,” Engel added.

About Newmont

Founded in 1921 and publicly traded since 1925, Newmont is a leading producer of gold and copper. Headquartered in Colorado, the Company has approximately 40,000 employees and contractors, with the majority working at managed operations in the United States, Australia, New Zealand, Peru, Indonesia and Ghana. Newmont is the only gold company listed in the S&P 500 index and in 2007 became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont is an industry leader in value creation, supported by its leading technical, environmental, and health and safety performance.

Cautionary Statement:

This release contains “forward-looking statements” within the meaning of applicable securities laws that are intended to be covered by the safe harbors created by those laws, including statements that use forward-looking terminology such as “will”, “continue” or other variations thereof or comparable terminology. Such forward-looking statements are statements that are not historical facts, which may include, without limitation, statements regarding future strategy and pending or future divestitures. While such forward-looking statements are expressed by Newmont as stated in this release in good faith and believed by Newmont to have a reasonable basis, they are subject to important risks and uncertainties including, without limitation, those disclosed in Newmont’s public filings, which could cause actual results to differ from future results expressed, projected or implied by the forward-looking statements. As a result, such forward-looking statements are not guarantees of future performance. Newmont does not undertake any obligation to release publicly revisions to any forward-looking statement or to comment on expectations of, or statements made by third parties, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at investors' own risk.

Source: Newmont Mining Corporation

Newmont Mining Corporation

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