Newmont Sells Stake in Regis for US$182 Million

March 10, 2016

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DENVER–(BUSINESS WIRE)–Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) announced it has closed the sale of its 19.45 percent equity stake in Regis Resources Ltd. for total net proceeds of US$182 million (A$243 million). The sale was managed by a broker and distributed globally to a broad range of institutional investors.

“This sale further strengthens Newmont’s balance sheet and enhances our focus on our core business,” said Randy Engel, Executive Vice President for Strategic Development. “Since mid-2013, we have executed nearly $1.9 billion in non-core asset sales, allowing us to invest in new, profitable production, further pay down debt and return capital to shareholders.”

In 2015, Newmont lowered net debt by 19 percent while continuing to invest in growth by acquiring Cripple Creek & Victor in Colorado; advancing five profitable development projects in the US, Australia and Suriname; and adding five million ounces of gold reserves by the drill bit. Last year Newmont also reduced all-in sustaining costs by 10 percent and increased adjusted EBITDA by 29 percent despite a nine percent drop in realized gold price.1

About Newmont

Newmont is a leading gold and copper producer. The Company employs approximately 29,000 employees and contractors, with the majority working at managed operations in the United States, Australia, Ghana, Peru, Indonesia and Suriname. Newmont is the only gold producer listed in the S&P 500 index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.

Cautionary Statement Regarding Forward Looking Statements:

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. Such forward-looking statements may include, without limitation, statements regarding future financial and operating performance, future efficiency improvements, future project development and approvals, future portfolio improvements, future return of capital to shareholders and other statements that are not historical facts. While such forward-looking statements are expressed in good faith and believed by Newmont to have a reasonable basis, they are subject to risks and uncertainties (as disclosed in Newmont’s Form 10-K), which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These 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 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.

1 All-in sustaining costs (AISC) and adjusted EBITDA are non-GAAP financial measures. The most directly comparable GAAP financial measure to AISC is Cost applicable to sales (CAS) and the most directly comparable GAAP financial measure to adjusted EBITDA is Net income (loss) attributable to Newmont stockholders (Net income). In 2015, Newmont reduced CAS by 10% to $633 per ounce. In 2015, net income decreased by 57%. For a reconciliation of AISC and adjusted EBITDA, please see the Company’s Form 10-K beginning on page 82 under the heading “Non-GAAP Financial Measures.” The Form 10-K is available and on the Company’s website

Category: General