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Newmont Mining Plans Senior Notes Offering

Newmont Mining Corp. (NEM) said Monday that it plans to offer senior unsecured notes pursuant to the company's shelf registration statement filed with the Securities and Exchange Commission.

The notes will be guaranteed on a senior unsecured basis by the company's subsidiary Newmont USA Ltd.

The company said it plans to use net proceeds from the offering for repayment of the outstanding balance under the company's senior revolving credit facility, settlement of certain forward starting swaps contracts, 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 general corporate purposes.

The company plans to place the remaining proceeds in short-term liquid investments.

by RTT Staff Writer

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