Newmont Raises $2.5 Billion Upon Closing Of Senior Notes Offering

DENVER, March 8, 2012 /PRNewswire/ -- Newmont Mining Corporation (NYSE: NEM) (the "Company") today announced that it has received aggregate net proceeds of approximately $2,460 million, after deducting underwriting discounts and estimated expenses, upon the closing of its registered public offering of $1.5 billion principal amount of 3.500% senior notes due 2022 and $1.0 billion principal amount of 4.875% senior notes due 2042 (the "Notes").

The Notes are senior unsecured obligations of the Company and rank equally with the Company's existing and future unsecured senior debt and senior to the Company's future subordinated debt.  The Notes are guaranteed on a senior unsecured basis by the Company's subsidiary, Newmont USA Limited.

The Company intends to use the net proceeds of this offering for (i) repayment of the outstanding balance under its senior revolving credit facility (which was drawn upon in January and February 2012 principally to repay the Company's 2012 convertible senior notes and to pay a portion of the payments 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), (ii) settlement of certain forward starting swaps contracts, (iii) 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 (iv) 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 acted as the joint book-running managers for the offering. Copies of the prospectus supplement and accompanying base prospectus for the offering may be obtained from Citigroup, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn NY 11220 or by telephone at [phone], or J.P. Morgan, 383 Madison Avenue, New York, NY 10179, Attn: Investment Grade Syndicate Desk – 3rd floor, or by telephone at [phone]. An electronic copy of the prospectus supplement and accompanying base prospectus may be obtained at www.sec.gov.

This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus.

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