Newmont Mining Corp. / NEM (NYSE)

    With the Gabelli Global Gold, Natural Resources & Income Trust, you can gain exposure to the metal while it is still in the ground. TheStreet.com Ratings has a buy rating of B on this fund.


    As of June 30, the closed-end fund holds a who's who list of mining shares, including Gold Fields (GFI), Newmont Mining (NEM), Agnico-Eagle Mines (AEM), Glamis Gold (GLG), Randgold Resources (GOLD) and Barrick Gold (ABX).


    The fund's allocations break down as follows: gold-mining shares constitute 50%; energy and related services, 39%; nonprecious-metal companies, 9%; and paper and forest products, 2%.

    Last Update: 12:39 PM ET Sep 25, 2006


    DENVER, Sept 25, 2006 /PRNewswire-FirstCall via COMTEX/ -- The U.S. Department of the Interior's Bureau of Land Management (BLM) awarded Idarado Mining Company, a Newmont subsidiary (NEM) its inaugural 2006 Hardrock Mineral Director's Award.
    The Department of the Interior created the Award to showcase the finest examples of responsible mineral resource development in the country. The Award recognizes the implementation of the principles of sustainable development, a concept adopted by the United States and 192 other countries, to balance environmental, economic, and social considerations for mining operations. The Idarado team and members of Newmont's corporate Environment and Social Responsibility department accepted the award at a ceremony hosted by the National Mining Association in Washington, D.C. on September 21, 2006.
    Idarado Mining Company, founded in 1939 in the Telluride and Red Mountain mining districts of Colorado's San Juan mountains, produced gold, silver and other metals until it closed in 1979. Idarado worked collaboratively with local communities, state regulators, government officials and other constituencies to develop a reclamation, remediation and preservation plan for the historic mining district. The BLM Award recognizes Idarado's achievements in balancing the interests of all stakeholders, while protecting the environment and creating long-term economic value for the region.
    "Newmont's commitment to leadership in environmental stewardship is embodied in Idarado's award from the BLM," said Dave Baker, Vice President, Environment and Social Responsibility. "Idarado's water management and vegetation procedures have become industry standards and have benefited our mining operations worldwide. Idarado's legacy was only possible as a result of the collaboration between the local communities, state and local governments and the private sector, all working toward the common goal of providing lasting value for the region," Baker said.
    Starting in 2000, once the environmental closure and reclamation processes were complete, Idarado began working with the non-profit organization, The Trust for Public Land, to return the majority of its private land back to publicly-owned open space. A portion of Idarado's property was also developed into 37 home sites. The land once owned by Idarado now provides access to hiking, mountain biking, and cross-country skiing trails, as well as an enhanced stream habitat and future access to ice and rock-climbing destinations.
    This is the second consecutive year a Newmont operation has won a BLM award. Newmont's Nevada Operations received the Hardrock Mineral Community Outreach and Economic Security Award in 2005. For more information on Idarado's programs and award, please refer to Newmont's website at http://www.newmont.com.
    SOURCE Newmont Mining

    Last Update: 8:02 AM ET Sep 27, 2006


    DENVER, Sept 27, 2006 /PRNewswire-FirstCall via COMTEX/ -- Newmont Mining Corporation (NEM) today announced that equity gold sales are expected to temporarily decline before increasing after development projects in Nevada, Ghana and Australia achieve full production rates in 2008 and 2009. For 2006, the Company now expects equity gold sales of between 5.6 and 5.8 million ounces, primarily as a result of the expropriation of the Company's 50% interest in the Zarafshan-Newmont Joint Venture in Uzbekistan, lower production in Ghana caused by nationwide power shortages, and the expected sale of the Holloway mine in Canada. Costs applicable to sales for the remainder of 2006, however, are expected to be in line with previous guidance of $290 to $310 per ounce.
    In 2007, the Company expects equity gold sales of between 5.2 and 5.6 million ounces, primarily as a result of lost sales from the Zarafshan- Newmont Joint Venture and the previously announced lower expected production from Yanacocha in Peru. Costs applicable to sales for 2007 are expected to be approximately 20% to 25% higher than 2006, primarily as a result of higher costs at Yanacocha. The Company has also deferred development of the Akyem project in Ghana, pending completion of permitting and resolution of country-wide power shortages.
    Chairman and Chief Executive Officer, Wayne Murdy said, "With the higher commodity and energy prices impacting the industry, and lower gold production at Yanacocha, we expect gold sales to reach a low point and costs to peak in 2007. Beyond 2007, we expect to return to a growth profile with improving costs as we benefit from the ramp-up of our new mines. For the fifth straight year, in 2006, we anticipate growing our reserves net of depletion."
    In the third quarter of 2006, the Company expects to generate pre-tax gains of approximately $295 million from the sale of its "Black Gold" heavy oil property in Canada and the Martabe project in Indonesia. Gains from the sale of these assets are expected to be partially offset by an anticipated $94 million, non-cash write-off of the Zarafshan-Newmont Joint Venture as a result of the Uzbek government's expropriation of the Company's assets. The Company will continue to challenge the Uzbek government's actions through international arbitration.
    Finally, the Company is pleased to announce the acquisition of a 40% interest in Shore Gold Inc.'s Fort a la Corne Joint Venture in Saskatchewan, Canada for $153 million. The Company, which already owned 9.7% of Shore Gold Inc., believes that this investment represents an opportunity to participate in a significant district-scale diamond project.

    Last Update: 2:53 PM ET Oct 6, 2006


    DENVER, Oct 06, 2006 /PRNewswire-FirstCall via COMTEX/ -- Newmont Mining Corporation (NEM) announced that it will report third quarter 2006 results on, November 2, 2006. A conference call will be held that day at 4:00 p.m. Eastern Time (2:00 p.m. Mountain Time) to discuss the quarter's results. The conference call will be carried on the Company's web site.


    The third quarter 2006 results and related financial and statistical information will be available prior to the conference call in the Investor Information section of the Company's web site, http://www.newmont.com. Additionally, the conference call will be archived for a limited time on the Company's web site.
    SOURCE Newmont Mining Corporation

    By James Attwood
    Last Update: 5:07 AM ET Oct 16, 2006


    SYDNEY (MarketWatch) -- Consolidation in the global gold industry is expected to gain pace in coming months after the recent merger flurry among industrial metal producers.


    Driving the latest round of interest is waning enthusiasm for raising project capital on equity and debt markets as some of the heat comes out of bullion prices against a backdrop of rising costs and a dearth of major discoveries.
    "Gold stocks are starting to see consolidation and I'm sure we're going to see a lot more happening...there's a lot of discussion in the industry now," said Wayne Seabrook, an investment banker at Sydney-based Wilson HTM.
    Since Canada's Barrick Gold (ABX) acquired Placer Dome earlier this year to replace Denver-based Newmont Mining Corp. (NEM) as the world's top gold producer, the industry has seen a steady flow of mergers and takeovers.


    ...


    Barrick is back in the news as it seeks to tuck in the assets of much smaller Canadian player NovaGold Resources Inc. (NG).
    While analysts continue to speculate on how, or who, Newmont may look at to regain its number one status; Australia's largest independent gold producer, Newcrest Mining, is often named as a potential target.


    ....

    Last Update: 4:58 PM ET Oct 19, 2006


    By Rebecca Howard
    Of DOW JONES NEWSWIRES
    LIMA (MarketWatch) -- Strong metals prices will have boosted third-quarter earnings at Peru's largest mining companies, local brokerages said.
    "Prices for the main metals, both base and precious, registered strong increases in the third quarter of this year," Banco de Credito, Peru's largest bank, said in a report.
    Among Peru's many miners, the biggest ones, such as Southern Copper Corp (PCU), Compania de Minas Buenaventura SAA (BVN), Sociedad Minera Cerro Verde SA (CVERDEC1.VL) and Volcan Compania Minera SAA (VOLB.VL) are set to report quarterly earnings.


    Buenaventura Seen Strong
    Banco de Credito also forecasts that Compania de Minas Buenaventura SAA will post third-quarter net income of $103.5 million. That compares to a net income of $40.7 million or $0.32 per share in the same period a year ago.
    Centura sees Buenaventura's net income in the third-quarter at $136.5 million.
    Buenaventura has a 43.65% stake in Minera Yanacocha, one of the largest gold mines in the world. However, analysts say that Buenaventura will also benefit from its 18% stake copper miner Sociedad Minera Cerro Verde SA.
    The brokerages noted that the company will benefit from stronger gold and copper prices at the Yanacocha mine and at Cerro Verde, although that will be offset to some extent by lower production and higher costs at Yanacocha.

    DJ PRECIOUS METALS UPDATE: Newmont Ghana Gold Costs To Soar



    Last Update: 2:41 PM ET Oct 20, 2006


    LONDON, Oct 20, 2006 (Dow Jones Commodities News via Comtex) -- TOP STORIES: Newmont Ghana Gold: Costs To Soar On Environment Report
    Ghana's Environmental Protection Agency has asked Newmont Mining Corp. (NMC.T) to revise its initial plan to construct an open cast gold mine, a move the company says will increase its operating costs on the project.

    Revised Date & Time: Newmont Announces Third Quarter Earnings Call


    Last Update: 4:29 PM ET Oct 20, 2006


    DENVER, Oct 20, 2006 /PRNewswire-FirstCall via COMTEX/ -- Newmont Mining Corporation (NEM) announced that it will report Third Quarter 2006 results on, November 1, 2006. A conference call will be held that day at 4:00 p.m. Eastern Time (2:00 p.m. Mountain Time) to discuss the quarter's results. The conference call will be carried on the Company's web site.


    Conference Call Details
    Dial-In Number 210-839-8506
    Leader John Gaensbauer
    Password Newmont
    Replay Number 203-369-3763


    Web Cast Details
    URL http://www.newmont.com



    The Third Quarter 2006 results and related financial and statistical information will be available prior to the conference call in the Investor Information section of the Company's web site, http://www.newmont.com. Additionally, the conference call will be archived for a limited time on the Company's web site.
    SOURCE Newmont Mining Corporation

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    Newmont Mining (NEM) Fund Weight 4,2%


    aus:


    The Best ETF for 2007: Vanguard Materials


    By Todd Wenning
    November 16, 2006

    EL SEGUNDO, Calif., Nov 14, 2006 /PRNewswire-FirstCall via COMTEX/ -- Computer Sciences Corporation (CSC ) announced today that it has signed a seven-year, $180 million information technology (IT) services contract with Newmont Mining Corporation (NEM ) , one of the world's largest gold mining companies.


    ...


    About Newmont Mining Corporation
    A leading gold producer with operations on five continents, Newmont is also engaged in the exploration for and acquisition of gold properties in some of the world's best gold districts.
    Employing approximately 28,000 employees and contractors worldwide, Newmont operates core assets in North America, South America, Australia, and Indonesia, with new mine projects currently being developed. Newmont also produces copper, silver, and zinc. Newmont is committed to high standards and leadership in the areas of environmental management and health and safety for its employees and neighboring communities.


    aus:


    CSC Signs $180 Million IT Services Agreement With Newmont Mining Corporation


    Last Update: 8:00 AM ET Nov 14, 2006

    Last Update: 4:51 PM ET Nov 16, 2006


    VANCOUVER, BRITISH COLUMBIA, Nov 16, 2006 (MARKET WIRE via COMTEX) -- Harvest Gold Corporation. (CA:HVG: news, chart, profile) (the "Company") is pleased to announce that it has signed a letter of intent to acquire the Rosebud gold mine property, Rosebud Mining District, Nevada. A compilation and review of archived project data is now underway.


    ...


    The property is comprised of 54 contiguous unpatented claims covering an area of approximately 1,080 acres (4.3 square kilometers) overlying the reclaimed Rosebud Mine, and surrounding area. The property was mined by Hecla Mining Company (HL ) and Newmont Mining Corporation (NEM ) as a joint venture with reported production from 1997-2000 of 386,247 ounces Au and 1,254,942 ounces Ag (Nevada Bureau of Mines and Geology, 2005, The Nevada Mining Industry 2004). This publication reports 1992 reserves/resources of 570,000 oz Au (0.362 opt) and 5.5 million oz Ag (5.5 opt).


    aus:


    Harvest Gold Signs LOI to Acquire Rosebud Gold Mine, Nevada

    Other mining companies have lost money when the policies of their host countries hardened toward foreign investors, or when natural disasters struck.
    Gold miner Newmont Mining Corp. (NEM) in September cut its gold sales outlook, partly due to lost sales from a joint venture in Uzbekistan, where the government expropriated Newmont's assets.

    Last Update: 7:38 AM ET Nov 20, 2006


    LONDON, Nov 20, 2006 (Dow Jones Commodities News via Comtex) -- Newmont Mining Corp. (NEM) hopes its Ahafo gold mine in Ghana will produce more than 225,000 troy ounces of gold by the end of 2006, as initially expected, following the relaxation of regulations issued by Ghana's wholesale power utility to curtail power supply to bulk users, a company official told Dow Jones Newswires Monday.
    The Ahafo mine normally has an annual output of 500,000 ounces, but output was affected by the Volta River Authority's power regulations.
    Newmont Ghana Gold Ltd. was ordered to cut its power usage by 50% at the beginning of the power crisis that hit Ghana in September due to drought, said Newmont's energy manager Joshua Mortoti, but now the company only has to cut usage by 20%.
    "Our power supply situation is improving. Besides we are able to generate an extra 10%-12% of power ourselves, which is why I am optimistic that we will meet this (production) target," Mortoti said.
    Mortoti added that company-generated electricity, produced by using their own generators, has been very costly for Newmont Ghana Gold.
    Last week, the government of Ghana announced it is going to spend $470 million in power generation over the next three years after widespread power cuts slowed output at mining firms across the country.
    "Two new power plants will be operational by August 2007, with a 300 megawatt thermal plant to be installed in 2009, while another 80 megawatt plant will be operational by April 2007," finance minister Kwadwo Baah-Wiredu told parliament.
    Mortoti welcomed the announcement, calling it "a step in the right direction" but remained skeptical over the timing. "We know that the government has contracted General Electric (GE) in the U.S. to install a 126 megawatts Frame 9 plant. That could quickly be installed by next year. But the other projects are likely to be marred with political controversies," Mortoti said.
    The Ahafo mine, which is one of two projects being undertaken by Newmont in Ghana, has a 20-year lifespan and is capable of processing 7 million tons of ore a year.

    TORONTO, ONTARIO, Nov 20, 2006 (CCNMatthews via COMTEX) -- Grandview Gold Inc. (CA:GVX: news, chart, profile) (GVGD.F) ("Grandview" or the "Company") is pleased to report partial results of the first of seven diamond drill holes comprising 12,414 feet from the 2006 drill program on the Pony Creek Property in Elko County, Nevada (the "Property"). The Property lies on the southern portion of the Carlin Trend, approximately 32 kilometers (20 miles) south of Newmont Mining Corporation's 2 million ounce Au Rain mine. Diamond drill hole PC-06-03 intersected 27.4 meters (90 feet), from 94.5 meters (310 feet) to 121.9 meters (400 feet), of fractured and altered intrusive that returned an average grade of 1.2 g/tonne (0.035 ounces/ton) gold. Within this overall interval, from 117.4 meters (385 feet) to 121.9 meters (400 feet) was a 4.6 meter (15 foot) section that graded 3.42 g/tonne (0.10 ounces/ton) gold.

    TORONTO, ONTARIO, Nov 23, 2006 (CCNMatthews via COMTEX) -- eResearch analysts, George Cargill, Ph.D., P.Eng. and Bob Weir, B.Sc., B.Comm., CFA, have written an Initiating Report on Western Goldfields, Inc. (CA:WGI: news, chart, profile) (WGDF) . Western Goldfields is a U.S.-incorporated but Canadian-managed junior mining company engaged in gold production and mine development in southeast California, U.S.A.
    In the Report, the Analysts state that, "Western Goldfields has one principal asset, the fully permitted gold-producing Mesquite Mine, which it acquired from Newmont Mining Corporation in 2003. To date, a total of 154.01 million tons of material has been placed on leach pads over the mine's life, making Mesquite a significant asset. The Company's new management team intends to restart production beginning in April 2008 at an average annual rate of approximately 165,000 oz. of gold over the next 9 1/2 years."
    The Analysts go on to say, "...we believe there are some interesting challenges..." facing management, but that "...the Company has considerable potential to achieve its goals."

    ...


    A disclaimer is in order. In no case can we attribute 100% of the firm's revenue to sales of a single commodity. Public corporations long ago recognized investors needed either vertical integration or a wide-ranging portfolio of commodities to dampen the volatility of single-commodity production. The four corporations examined below, Phelps Dodge, Inco, Newmont Mining (NEM) and Anadarko Petroleum (APC) all have multiple commodity exposure. In addition, all four corporations have been quite active in the merger, acquisition and divestiture market. These distortions are unavoidable.


    ...


    Newmont Mining and Gold


    Newmont's performance story is fascinating. Prior to May 2003, its relative performance to the S&P 500 as a function of gold prices increased exponentially. It is as if the owners of Newmont got an additional call option on gold tossed in for good measure. This makes sense. The production costs for gold barely increased while prices received increased by more than 50% during this period. After May 2003, the relationship changed entirely: There is none.


    Was Newmont Mining a Good Way to Play Gold?

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