NEWMONT MINING CORP /DE/

Transcription

1 NEWMONT MINING CORP /DE/ FORM 8-K (Current report filing) Filed 09/28/05 for the Period Ending 09/28/05 Address 6363 SOUTH FIDDLERS GREEN CIRCLE GREENWOOD VILLAGE, CO Telephone CIK Symbol NEM SIC Code Gold And Silver Ores Industry Gold & Silver Sector Basic Materials Fiscal Year 12/31 Copyright 2015, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use.

2 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): September 28, 2005 Newmont Mining Corporation (Exact name of registrant as specified in its charter) Delaware (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 1700 Lincoln Street, Denver, Colorado (Address of principal executive offices) (zip code) (303) (Registrant s telephone number, including area code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR e-4(c))

3 ITEM REGULATION FD DISCLOSURE. On September 28, 2005, representatives of Newmont Mining Corporation, a Delaware corporation ( Newmont ), are scheduled to make a presentation to analysts and investors at the Denver Gold Forum 2005 conference in Denver, Colorado (the Conference ). At the Conference, Wayne Murdy, Chairman and Chief Executive Officer of Newmont, will discuss the information included in the presentation materials attached as Exhibit 99.1 to this Current Report. As part of this presentation, Newmont will, among other things, confirm guidance for its fiscal year 2005 consolidated gold sales of million ounces ( million equity ounces) at consolidated costs applicable to sales of $230 - $240 per ounce. Newmont is in the process of re-evaluating its mine planning and will not provide at this time any guidance for fiscal year 2006 and beyond, which Newmont expects to provide at a later time. Risks to current guidance include labor availability and ground conditions at Nevada s underground operations. The information, including the exhibit attached hereto, in this Current Report is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as otherwise stated in such filing. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits Exhibit Number Description of Exhibit 99.1 Presentation Materials dated September 28,

4 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: September 28, By: /s/ Sharon E. Thomas Name: Sharon E. Thomas Title: Vice President and Secretary

5 EXHIBIT INDEX Exhibit Number Description of Exhibit 99.1 Presentation Materials dated September 28,

6 Our Competitive Advantage Exhibit 99.1

7 Executive Wayne Chairman Pierre President September Slide 2 Lassonde W. & Speakers Murdy 28, Chief 2005 Executive Officer

8 CAUTIONARY PRIVATE This amended, (iv) expectation cause metals risks Report not occurrence September Slide undertake the presentation in 3 actual production price timing the that Form SECURITIES 28, countries of volatility, results any unanticipated are belief or K STATEMENT results contains intended obligation and to is for differ sales, currency expressed which of the LITIGATION forward-looking to permitting, events, materially (ii) to year be we release fluctuations, estimates covered operate ended except good construction publicly from REFORM December by faith and of as the future statements increased may governmental and any safe results believed ACT cash 31, and revisions harbor required production 2004, costs; within SAFE expressed, created to regulation which to under have (iii) HARBOR the any costs estimates activities. meaning by a is forward-looking applicable projected reasonable such and file STATEMENT judicial sections. variances of with Where Section securities reserves, basis. implied the outcomes. the Such Securities in statement However, 27A Company ore and laws. by forward-looking of grade such statements For the and to a forward-looking Securities expresses more reflect Exchange recovery regarding detailed events statements Act rates Commission, implies of discussion or future statements. 1933, from circumstances include, exploration those as expectation amended, of as are Such without assumed well such subject after risks spending or and the limitation, the to belief include, and Company s mining 21E risks, date other or as of of results uncertainties to but (i) the plans, this factors, future estimates are Securities other presentation, and as not events well see the SEC limited and of the replacement Exchange as future filings. or other political Company s results, to, or gold factors, The reflect Act and such of Company of reserves; Annual operational which other 1934, could as does and

9 Top 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) Where Do Are How Can What Investor you do about is is are will need driving your looking replace manage the Questions you manage gold to current doing make the reserves? to as cost price with diversify? gold currency? outlook? political to acquisitions? pressures? going? address your price? surplus risk? costs cash & growth? flow?

10 1) What is driving the gold price?

11 Declining 3,200 3,000 2,800 Tonnes 2, September Mine Jewelry Slide Production 2,200 2,600 Demand Mine , 2, Supply 2004 Jewelry Down Increases Source: 2005F & On 5% Demand Rising (H1 Average in GFMS Jewelry vs. 2% vs per H1 Demand 2004): year 2001 India % Turkey +16% China +14%

12 2) What about gold as currency?

13 Deteriorating Current 2% -1% -3% Source: September Gold Slide 1% -2% -4% 1972 Nixon Carter Stock vs. Price 8 0% Account Bloomberg US Percent -5% , per Market Gold Bonds Current US$ -6% 2005 Ounce 1981 Deficit of Window -7% Crash - GDP Account Through 1986 Gold 1990 Price March, $ $700 $600 $500 $400 $300 $200 $100 $0

14 Gold 70% 40% Growth 30% % 20% 2002 USD Yen Euro Source: September Slide 60% 10% Gold 2003 Bull 9 Bloomberg 50% Market: , -10% 2005 Rising in All Currencies

15 3) Where is the gold price going?

16 Bull Dow/Gold High 14 Low Source: September Slide 10 Year Market of Jones Bloomberg Duration , Average in in 2005 Hard February June 1935 January August 1980 vs. Assets 1940 Gold

17 4) Can you replace reserves?

18 North Central South Australia Ghana Newmont September Slide Million America 60 Asia Reserve Acres 28, & Indonesia in Growth World 1993 Class History 1995 Gold Districts 1999 million 2001 ounces 2003 at $12.80 per ounce

19 5) Do you need to make acquisitions?

20 Portfolio data(ca;cos.un) Newmont s /21/04 Royalty Equity Asset Book 44% Canadian Black September 1) Slide Market oil 15 Portfolio Daily Gold Value1 8/3/04 and & Oil 28, Investment avg. $265 $40 gas Sands Heavy /13/04 $911 96% m as cost LS: of Trust Gabriel Income m Oil = AAA September /25/04 Management $45.00 Yield Iron countries Shore (2004) Ore NET: /6/04 9, and Gold $ $4.2 Expertise Coal m 1/24/05 m Income Canadian Gold Appreciation /7/05 Refineries (2005E) Oil /18/05 Sands (YTD) $66 Arctic Trust m 5/30/05 28% Return Gas /11/05 (2005F) %

21 6) Are you looking to diversify?

22 2004 Diversified Gold Strategic *Maintain *Earn 1) September Slide Copper Assets 17 Above Revenue1 Investment revenue Gold 28, Royalty Generate Average 85% 2005 Multiple 13% based and Goals: Over Returns Dividend on 85% proportional of Income Revenues ownership 2% of Batu Hijau at 53%.

23 7) What is your current outlook?

24 North 2.9 South 3.1 Australia/NZ 2005E 1.6 Indonesia Million Outlook 8.5 America million 2005E Ounces 2005E consolidated $305 $146 $308 $150 per gold ounce ounces million equity gold ounces $230 $240 consolidated costs applicable to sales

25 8) How do you manage political risk?

26 Portfolio Balanced % 39% 23% 4% 0.3 AUSTRALIA/ ZEALAND NORTH % 18% PERU INDONESIA CENTRAL 2.1 GHANA 1) September Slide Over mm 2% 38% Gold Reserves: ozs Two AMERICA With 16.0 Political Sales: 28, mm ASIA 15.1 Thirds NEW 92.4mm ozs 7.0mm Exposure ozs of ZEALAND ozs Production equity ozs in AAA Rated Countries 2) Over Half of Reserves in AAA Rated Countries

27 9) Can you manage cost pressures?

28 $400 $350 $ $250 $225 $150 Long Newmont Cost Trend Gold September Slide Inflation Gold 1995 $ Term Total 1996 Price 28, Rate 2005 Cash 1997 ( $/ounce) of Costs Less 1998 Than $300 $175( % $ $/ounce) Per 2001 Annum $ $275

29 Over $ H Improved 0% Source: 1) 2) Note: Slide Newmont Estimated % $600 = Industry Two 24 Please 56th GFMS 20% Industry Competitive Cash Thirds $500 Percentile Cash refer H1 30% Cost $ US$ Cash to Costs: 40% the Percentiles1 $300 from Denominated 2004 Costs attached 50% 2002=$189, $200 GFMS Position = 60% (2) 38th Industry Supplemental $100 70% data Percentile Costs 2004=$231, $0 80% Cash 90% Costs 2005E Information 100% H1 = 2005E 38th 40th for = $246-$257 an Percentile explanation (based of non-gaap current costs performance applicable measures. to sales guidance of $230-$240).

30 10) What are you doing to address costs and future growth?

31 1.8 Annually Future Leeville, Begins: Phoenix, Ahafo, Production Akyem, production Boddington, Reserves: Power 203 In 1) Slide Development Estimated Million MW 24 Plant, Projects Q4 Ghana Nevada Coal 4.9 Begins: Ounces1 2005E < Australia average Nevada mm $220 Plant ozs Reserves: 2H 1Q per Up over Annual 2008E 2006E Ounce to first $20/oz 2.6 Reserves: Production: five mm Estimated years ozs Annual of ~375,000 production. mm CAS ozs Production: savings ozs equity Annual Start-up ounces Production: ~500, E ounces ~400,000 ~380,000 ~375,000 ounces equity ounces

32 11) What will you do with your surplus cash flow?

33 Financial Industry (.5) billions $ (1.5) NEM (0.3) 0.0 (0.7) (1.6) (1.0) Net Investments Derivatives Source: Annual September Slide.5 Debt (2.0) 28 dividends Company Leading Flexibility (2.5) 28, MTM + Net 2005 (3.0) Balance raised June Debt 30, + from Sheet Mark-to-Market 2005 $0.12/share financials. in 2002 to a current rate of $0.40/share.

34 Newmont s Competitive 33 Industry 1.8 Only 1) September Slide Weighted Million Gold 29 Leading Capital s Stock Acres 28, New Advantages average 2005 Project in of Balance the Portfolio Land cost S&P Ounces per in Sheet the 500 and ounce World s in and Investment Development Financial Fortune Best Management 500 Gold Flexibility at Districts < $2201 Gold Expertise Price Leverage No Gold Hedging Philosophy Most Liquid Gold Stock ~$200 Million/Day

35 Our Competitive Advantage

36 Supplemental Year December Costs Minority Reclamation/accretion ended 2003 Information 2004 Writedown Purchase applicable 31, ($ to million) sales under Total GAAP Gold Total $1,655.8 Gold $1,935.9 Total interest (192.2) (262.1) Reclamation/accretion expense (13.1) (16.9) Depreciation, Minority cash inventories ore cost and for other (12.9) per (33.7) ounce (13.1) (37.4) calculation 1, ,606.4 September Slide Total depletion and expense amortization and other interest and other (72.5) (104.7) Equity 31 production ounces total 28, cash production 2005 sold cost (000) per for cost 7,005.6 ounce per per ounce ounce sold 6,969.1 calculation $203 sold $231 $266 $1,836.0 $295 $2,054.1

37 Supplemental Year December Costs Minority Reclamation/accretion ended 2000 Information Writedown Purchase applicable 31, ($ to million) sales under Total GAAP Gold Total $1,065.9 Gold $1,118.1 Total Gold $1,580.5 Total interest (91.9) (123.7) (173.0) Reclamation/accretion expense (18.7) (19.8) (25.4) Depreciation, Minority cash inventories ore cost and for other (5.0) per - ounce (25.1) (22.8) calculation (44.0) ,315.3 September Slide Total depletion and expense amortization and other interest and other (39.7) (38.0) (61.4) Equity 32 production ounces total 28, cash production 2005 sold cost (000) per for cost 5,585.3 ounce per per ounce ounce sold 5,171.0 calculation $170 sold 6,971.4 $184 $224 $1,250.0 $189 $237 $250 $1,225.0 $1,740.1