NEWMONT MINING CORP
4, 1998-05-11
GOLD AND SILVER ORES
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                                                  ------------------------------
                                                           OMB APPROVAL
                                                  ------------------------------
                                                  OMB Number 3235-0287
                                                  Expires: September 30, 1998
                                                  Estimated average burden
                                                  hours per response ....... 0.5
                                                  ------------------------------

                     U.S. SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                     FORM 4


                                  OMB APPROVAL
                              OMB Number: 3235-0287
                           Expires: September 30, 1998
                Estimated average burden hours per response: 0.5


                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP


     Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
                   Section 17(a) of the Public Utility Holding
   Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940


[  ] Check this box if no longer subject to Section 16. Form 4 or Form 5
     obligations may continue. See Instruction 1(b).

================================================================================
1. Name and Address of Reporting Person*


- --------------------------------------------------------------------------------
   (Last, First Middle)

    Newmont Mining Corporation
- --------------------------------------------------------------------------------
   (Street)

    1700 Lincoln Street
- --------------------------------------------------------------------------------
   (City, State  Zip)

    Denver, CO  80203
================================================================================
2. Issuer Name and Ticker or Trading Symbol

   Newmont Gold Company (NGC)
================================================================================
3. IRS or Social Security Number of Reporting Person (Voluntary)

   
================================================================================
4. Statement for Month/Year

   April 1998
================================================================================
5. If Amendment, Date of Original (Month/Year)


================================================================================
6. Relationship of Reporting Person(s) to Issuer
   (Check all applicable)

   [   ]   Director                             [ x ]   10% Owner
   [   ]   Officer (give title below)           [   ]   Other (specify below)

                          ---------------------------
================================================================================
7. Individual or Joint/Group Filing (Check applicable line)

   [ x ] Form filed by one Reporting Person
   [   ] Form filed by more than one Reporting Person

*   If the form is filed by more than one reporting person,
    see Instruction 4(b)(v).
<PAGE>
================================================================================
           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                                                                 
                                                                                       4.                           
                                                                                       Securities Acquired (A) or   
                                                              3.                       Disposed of (D)              
                                                              Transaction              (Instr. 3, 4 and 5)          
                                      2.                      Code                     -----------------------------
       1.                             Transaction             (Instr. 8)                                  (A)          
       Title of Security              Date                    ------------             Amount             or      Price 
       (Instr. 3)                     (mm/dd/yy)               Code     V                                 (D)                      
- ------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>                            <C>                     <C>      <C>             <C>                <C>     <C> 
(1)    Common Stock                   4/30/98                 X*                         468              A       29.80 
- ------------------------------------------------------------------------------------------------------------------------------------
(2)    Common Stock                   4/30/98                 X**                      3,784              A       28.79             
- ------------------------------------------------------------------------------------------------------------------------------------
(3)    Common Stock                   4/30/98                 X**                      2,765              A       32.56             
- ------------------------------------------------------------------------------------------------------------------------------------
(4)    
- ------------------------------------------------------------------------------------------------------------------------------------

- --------------------------------------------------------------------------------
      Table I (cont.) -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
- --------------------------------------------------------------------------------

                                     5.                      6. Owner-            
                                     Amount of               ship                 
                                     Securities              Form:              7.           
                                     Beneficially            Direct             Nature of    
                                     Owned at End            (D) or             Indirect     
       1.                            of Month                Indirect           Beneficial   
       Title of Security             (Instr. 3               (I)                Ownership    
       (Instr. 3)                    and 4)                  (Instr.4)          (Instr. 4)   
- ------------------------------------------------------------------------------------------------------------------
<S>    <C>                           <C>                     <C>               <C>
(1)    Common Stock                                          D
- ------------------------------------------------------------------------------------------------------------------  
(2)    Common Stock                                          D
- ------------------------------------------------------------------------------------------------------------------  
(3)    Common Stock                                          D
- ------------------------------------------------------------------------------------------------------------------------------------
(4)                                  156,512,263
- ------------------------------------------------------------------------------------------------------------------------------------

==================================================================================================================
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
          owned directly or indirectly.
<PAGE>
================================================================================
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
         (e.g., puts, calls, warrants, options, convertible securities)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                                                                     6.
                                                                                                     Date               
                                                                      5.                             Exercisable and    
                         2.                            4.             Number of Derivative           Expiration Date    
       1.                Conversion or                 Transaction    Securities Acquired (A)        (Month/Day/Year)   
       Title of          Exercise        3.            Code           or Disposed of (D)            ----------------    
       Derivative        Price of        Transaction   (Instr. 8)     (Instr. 3, 4 and 5)            Date          Expira-   
       Security          Derivative      Date (Month/  ------         -----------------------        Exer-         tion      
       (Instr. 3)        Security        Day/Year)     Code    V      (A)             (D)            cisable       Date      
- ------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>                  <C>          <C>           <C>     <C>    <C>             <C>            <C>           <C>  
(1)    Option               29.80        4/30/98       X*                               468          5/25/89       5/25/08
       (right to buy)
- ------------------------------------------------------------------------------------------------------------------------------------
(2)    Option               28.79        4/30/98       X**                            3,784           5/5/97       7/10/05
       (right to buy)
- ------------------------------------------------------------------------------------------------------------------------------------
(3)    Option               32.56        4/30/98       X**                            2,765           5/5/97        7/1/06      
       (right to buy)
- ------------------------------------------------------------------------------------------------------------------------------------


- --------------------------------------------------------------------------------
Table II (cont.) -- Derivative Securities Acquired, Disposed of, or Beneficially
     Owned (e.g., puts, calls, warrants, options, convertible securities)
- --------------------------------------------------------------------------------

                          7.
                          Title and Amount
                          of Underlying                                                            
                          Securities                                              9.               10.      
                          (Instr. 3 and 4)                                        Number of        Ownership
                          ----------------                                        Derivative       Form of         11.
       1.                                   Amount              8.                Securities       Derivative      Nature of
       Title of                             or                  Price of          Beneficially     Security:       Indirect
       Derivative                           Number              Derivative        Owned            Direct (D)      Beneficial
       Security                             of                  Security          at End of Month  or Indirect     Ownership 
       (Instr. 3)         Title             Shares              (Instr. 5)        (Instr.4)        (I) (Instr. 4)  (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>                <C>               <C>                 <C>               <C>              <C>             <C>
(1)    Option             Common              468                *                   624               D
       (right to buy)
- ------------------------------------------------------------------------------------------------------------------------------------
(2)    Option             Common             3,784                **              81,480               D
       (right to buy)
- ------------------------------------------------------------------------------------------------------------------------------------
(3)    Option             Common             2,765                **             105,265               D
       (right to buy)
====================================================================================================================================
</TABLE>
<PAGE>
Explanation of Responses:

*    Indicated  transactions  related  to the  common  stock  options  (the "NGC
     Options")  granted by Newmont Gold Company (the "Newmont  Gold") to Newmont
     Mining Corporation ("NMC") in connection with a transaction entered into by
     NMC and Newmont Gold on March 18, 1994 to combine the operations of NMC and
     Newmont  Gold,  effective as of January 1, 1994.  The NGC Option grants and
     exercises  reported herein result from the grant and exercise of comparable
     employee stock options of NMC.


**   Indicated  transactions  reported  herein  resulted  from the  merger  (the
     "Merger") of a wholly-owned  subsidiary  ("Sub") of NMC with and into Santa
     Fe  Pacific  Gold  Corporation  ("Santa  Fe").  Immediately  following  the
     consummation  of the Merger,  NMC  transferred  to Newmont  Gold all of the
     shares of common stock of the corporation  surviving the Merger in exchange
     for  additional  shares of Newmont  Gold common stock in an amount equal to
     the number of shares of Newmont  Mining common stock issued to former Santa
     Fe  stockholders  in the Merger and  additional NGC Options having the same
     terms as the options to acquire  Santa Fe common  stock  assumed by Newmont
     Mining  pursuant to the Merger as adjusted as contemplated by the Agreement
     and Plan of Merger  dated as of March 10, 1997 among NMC,  Sub and Santa Fe
     (except that the additional  Newmont Gold Options will be  exercisable  for
     shares of Newmont Gold common stock while the assumed Santa Fe options will
     be exercisable  for shares of Newmont Mining common stock) (such options as
     so assumed and adjusted  are referred to herein as the "Assumed  Options").
     The NGC Option  exercises  reported  herein result from exercise of Assumed
     Options. All of the above-described  transactions relate to the transaction
     entered  into  by NMC  and  Newmont  Gold in  1994  which  resulted  in the
     combination  of the  operations  of NMC and Newmont  Gold  effective  as of
     January 1, 1994 and which requires that at all times subsequent thereto the
     number of shares of Newmont Gold common stock owned by Newmont Mining equal
     the number of outstanding shares of Newmont Mining common stock.


/s/ Timothy J. Schmitt                                           5/10/98
- ---------------------------------------------            -----------------------
      **Signature of Reporting Person                             Date


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