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Thursday, 5th February 2009 (1316 views)

Newmont Mining has revealed that it has raised a total of $1.7 billion (£1.17 billion) in aggregate net proceeds on the completion of public offerings.

The company has offered 34,500,000 shares of common stock and three per cent convertible senior notes due 2012 with a principal amount of $517.5 million.

According to Denver-based Newmont Mining, the net proceeds will be used to fund the purchase of a remaining 33.33 per cent interest in the Boddington project in Western Australia.

The firm announced that it had priced its public offerings of common stock and convertible senior notes on January 28th 2009, agreeing to sell 30,000,000 shares of its common stock at $37 per share.

Gold producer Newmont Mining has operations on five continents and is involved in exploration and acquisition of gold properties in a number of major mining districts.

Founded in 1921 in New York, the firm employs around 34,000 employees and contractors worldwide and is traded on the New York, Australian and Toronto stock exchanges.

 

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