<PAGE> 1
FORM 11-K
[x] ANNUAL REPORTS
PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1998
OR
[ ] TRANSITION REPORT
PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
[NO FEE REQUIRED]
For the transition period from to
------------------ ---------------------
Commission file number 1-1153
NEWMONT MINING CORPORATION
RETIREMENT SAVINGS PLAN FOR HOURLY-RATED EMPLOYEES
--------------------------------------------------
(Title of Plans)
NEWMONT MINING CORPORATION
--------------------------
(Issuer of Securities)
1700 Lincoln Street, Denver, Colorado 80203
-------------------------------------------
(Principal Executive Office)
<PAGE> 2
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY - RATED EMPLOYEES
FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES
AS OF DECEMBER 31, 1998 AND 1997
TOGETHER WITH REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
INDEX
Page(s)
----------
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS F-2
FINANCIAL STATEMENTS:
Statement of Net Assets Available for Plan Benefits,
with Fund Information, as of December 31, 1998 F-3
Statement of Net Assets Available for Plan Benefits,
with Fund Information, as of December 31, 1997 F-4
Statement of Changes in Net Assets Available for
Plan Benefits, with Fund Information, for the Year
Ended December 31, 1998 F-5 - F-6
NOTES TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES F-7 - F-13
SCHEDULES SUPPORTING FINANCIAL STATEMENTS:
Schedule I--Item 27a--Schedule of Assets Held for
Investment Purposes as of December 31, 1998 F-14
Schedule II -- Item 27b -- Schedule of Loans in Default
as of December 31, 1998 F-15 - F-25
Schedule III--Item 27d--Schedule of Reportable Transactions,
January 1, 1998 through December 31, 1998 F-26 - F-27
F-1
<PAGE> 3
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Participants and Administration Committee of the
Newmont Retirement Savings Plan for Hourly-Rated Employees:
We have audited the accompanying statements of net assets available for plan
benefits, with fund information, of the NEWMONT RETIREMENT SAVINGS PLAN FOR
HOURLY-RATED EMPLOYEES (the "Plan") as of December 31, 1998 and 1997, and the
related statement of changes in net assets available for plan benefits, with
fund information, for the year ended December 31, 1998. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the Plan
as of December 31, 1998 and 1997, and the changes in net assets available for
plan benefits for the year ended December 31, 1998, in conformity with
generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets held
for investment purposes, loans in default and reportable transactions are
presented for the purpose of additional analysis and are not a required part of
the basic financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. These supplemental
schedules are the responsibility of the Plan's management. The fund information
in the statements of net assets available for plan benefits and the changes in
net assets available for plan benefits is presented for purposes of additional
analysis rather than to present the net assets available for plan benefits and
changes in net assets available for plan benefits of each fund. The supplemental
schedules and fund information have been subjected to the auditing procedures
applied in the audits of the basic financial statements and, in our opinion, are
fairly stated in all material respects in relation to the basic financial
statements taken as a whole.
/s/ Arthur Andersen LLP
- ---------------------------
Denver, Colorado,
June 28, 1999.
F-2
<PAGE> 4
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Vanguard Fiduciary Trust Company
---------------------------------------------------------------------------------------------
Templeton Vanguard Vanguard Vanguard
AIM Developing Vanguard Extended Inter- LifeStrategy Vanguard
Constellation Markets 500 Market national Conservative LifeStrategy
Fund, Trust - Index Index Growth Growth Growth
Class A Class I Fund Fund Fund Fund Fund
------------- ----------- ----------- ----------- ----------- ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS, at fair value:
Registered investment companies/
mutual funds $ 4,421,974 $ 25,157 $10,138,146 $ 67,798 $ 1,153,505 $ 1,645,915 $ 1,518,126
Employer stock fund - - - - - - -
Participant loans - - - - - - -
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total investments 4,421,974 25,157 10,138,146 67,798 1,153,505 1,645,915 1,518,126
RECEIVABLES:
Employer/participant contributions 29,572 457 60,309 1,028 8,371 10,164 11,678
----------- ----------- ----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS $ 4,451,546 $ 25,614 $10,198,455 $ 68,826 $ 1,161,876 $ 1,656,079 $ 1,529,804
=========== =========== =========== =========== =========== =========== ===========
<CAPTION>
Vanguard Fiduciary Trust Company
--------------------------------------------------------------------------------
Vanguard
Vanguard Vanguard Total
Vanguard LifeStrategy Prime Bond
LifeStrategy Moderate Money Market Newmont
Income Growth Market Index Stock Participant
Fund Fund Fund Fund Fund Loans Total
------------ ------------ ----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS, at fair value:
Registered investment companies/
mutual funds $ 620,050 $ 3,428,657 $ 4,881,300 $ 296,193 $ - $ - $28,196,821
Employer stock fund - - - - 1,195,698 - 1,195,698
Participant loans - - - - - 3,537,400 3,537,400
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total investments 620,050 3,428,657 4,881,300 296,193 1,195,698 3,537,400 32,929,919
RECEIVABLES:
Employer/participant contributions 4,626 21,020 32,121 2,578 9,963 - 191,887
----------- ----------- ----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS $ 624,676 $ 3,449,677 $ 4,913,421 $ 298,771 $ 1,205,661 $ 3,537,400 $33,121,806
=========== =========== =========== =========== =========== =========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
F-3
<PAGE> 5
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
Merrill Lynch Trust Company
-------------------------------------------------------------------------------------------
Newmont
Neuberger MasterWorks Gold
PIMCO & S&P Company
Low Berman 500 AIM Templeton Common
Duration Guardian Stock Constellation Foreign Stock
Cash Fund Trust Fund Fund Fund Fund
----------- ----------- ----------- ----------- ------------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS, at fair value:
Cash and cash equivalents $ 38,946 $ - $ - $ - $ - $ - $ -
Collective investment funds - - - - - - -
Registered investment companies/
mutual funds - 1,392,244 3,562,613 3,713,606 4,076,223 957,273 -
Employer stock fund - - - - - - 1,218,309
Participant loans - - - - - - -
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total investments 38,946 1,392,244 3,562,613 3,713,606 4,076,223 957,273 1,218,309
----------- ----------- ----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS $ 38,946 $ 1,392,244 $ 3,562,613 $ 3,713,606 $ 4,076,223 $ 957,273 $ 1,218,309
=========== =========== =========== =========== =========== =========== ===========
<CAPTION>
Merrill Lynch Trust Company
------------------------------------------------------------------------------------------
U.S.
Government
Money LifePath LifePath LifePath LifePath LifePath
Market 2000 2010 2020 2030 2040 Participant
Fund Fund Fund Fund Fund Fund Loans
----------- ----------- ----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS, at fair value:
Cash and cash equivalents $ - $ - $ - $ - $ - $ - $ -
Collective investment funds 2,791,838 543,253 1,526,757 1,564,776 924,010 1,037,580 -
Registered investment companies/
mutual funds - - - - - - -
Employer stock fund - - - - - - -
Participant loans - - - - - - 3,243,659
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total investments 2,791,838 543,253 1,526,757 1,564,776 924,010 1,037,580 3,243,659
----------- ----------- ----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS $ 2,791,838 $ 543,253 $ 1,526,757 $ 1,564,776 $ 924,010 $ 1,037,580 $ 3,243,659
=========== =========== =========== =========== =========== =========== ===========
<CAPTION>
Total
-----------
<S> <C>
INVESTMENTS, at fair value:
Cash and cash equivalents $ 38,946
Collective investment funds 8,388,214
Registered investment companies/
mutual funds 13,701,959
Employer stock fund 1,218,309
Participant loans 3,243,659
-----------
Total investments 26,591,087
-----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS $26,591,087
===========
</TABLE>
The accompanying notes are an integral part of this statement.
F-4
<PAGE> 6
Page 1 of 2
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS,
WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1998
<TABLE>
<CAPTION>
Merrill Lynch Trust Company
-----------------------------------------------------------------------------------
MasterWorks
PIMCO Neuberger S&P
Low & Berman 500 AIM Templeton
Duration Guardian Stock Constellation Foreign
Cash Fund Trust Fund Fund Fund
----------- ----------- ----------- ----------- ------------- -----------
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ 31 $ - $ - $ - $ - $ -
Interest income, participant loans - - - - - -
Net appreciation (depreciation)
in the fair value of investments - 7,844 72,104 25,534 (2,853) 3,863
----------- ----------- ----------- ----------- ----------- -----------
Total investment income (loss) 31 7,844 72,104 25,534 (2,853) 3,863
----------- ----------- ----------- ----------- ----------- -----------
Contributions-
Employer - - - - - -
Participant - - - - - -
Participant loan repayments - - - - - -
Other - - - - - -
----------- ----------- ----------- ----------- ----------- -----------
Total additions 31 7,844 72,104 25,534 (2,853) 3,863
----------- ----------- ----------- ----------- ----------- -----------
DEDUCTIONS:
Payment of benefits - - - - - -
Participant loan withdrawals - - - - - -
Other - - - - - -
----------- ----------- ----------- ----------- ----------- -----------
Total deductions - - - - - -
----------- ----------- ----------- ----------- ----------- -----------
Net increase (decrease) prior to interfund
transfers 31 7,844 72,104 25,534 (2,853) 3,863
Interfund transfers, net - - - - - -
Asset transfers from Merrill Lynch
to Vanguard (38,977) (1,400,088) (3,634,717) (3,739,140) (4,073,370) (961,136)
----------- ----------- ----------- ----------- ----------- -----------
Net increase (decrease) (38,946) (1,392,244) (3,562,613) (3,713,606) (4,076,223) (957,273)
NET ASSETS AVAILABLE FOR
PLAN BENEFITS:
Beginning of period 38,946 1,392,244 3,562,613 3,713,606 4,076,223 957,273
----------- ----------- ----------- ----------- ----------- -----------
End of period $ - $ - $ - $ - $ - $ -
=========== =========== =========== =========== =========== ===========
<CAPTION>
Merrill Lynch Trust Company
--------------------------------------------------------------------------------
Newmont
Gold U.S.
Company Government
Common Money LifePath LifePath LifePath LifePath
Stock Market 2000 2010 2020 2030
Fund Fund Fund Fund Fund Fund
----------- ----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ - $ 1,616 $ - $ - $ - $ -
Interest income, participant loans - - - - - -
Net appreciation (depreciation)
in the fair value of investments (55,448) - 2,869 8,083 9,460 5,768
----------- ----------- ----------- ----------- ----------- -----------
Total investment income (loss) (55,448) 1,616 2,869 8,083 9,460 5,768
----------- ----------- ----------- ----------- ----------- -----------
Contributions-
Employer - - - - - -
Participant - - - - - -
Participant loan repayments - - - - - -
Other - - - - - -
----------- ----------- ----------- ----------- ----------- -----------
Total additions (55,448) 1,616 2,869 8,083 9,460 5,768
----------- ----------- ----------- ----------- ----------- -----------
DEDUCTIONS:
Payment of benefits - - - - - -
Participant loan withdrawals - - - - - -
Other - - - - - -
----------- ----------- ----------- ----------- ----------- -----------
Total deductions - - - - - -
----------- ----------- ----------- ----------- ----------- -----------
Net increase (decrease) prior to interfund
transfers (55,448) 1,616 2,869 8,083 9,460 5,768
Interfund transfers, net - - - - - -
Asset transfers from Merrill Lynch
to Vanguard (1,162,861) (2,793,454) (546,122) (1,534,840) (1,574,236) (929,778)
----------- ----------- ----------- ----------- ----------- -----------
Net increase (decrease) (1,218,309) (2,791,838) (543,253) (1,526,757) (1,564,776) (924,010)
NET ASSETS AVAILABLE FOR
PLAN BENEFITS:
Beginning of period 1,218,309 2,791,838 543,253 1,526,757 1,564,776 924,010
----------- ----------- ----------- ----------- ----------- -----------
End of period $ - $ - $ - $ - $ - $ -
=========== =========== =========== =========== =========== ===========
<CAPTION>
Merrill Lynch Trust Company
------------------------------
LifePath
2040 Participant
Fund Loans
----------- -----------
<S> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ - $ -
Interest income, participant loans - -
Net appreciation (depreciation)
in the fair value of investments 6,068 -
----------- -----------
Total investment income (loss) 6,068 -
----------- -----------
Contributions-
Employer - -
Participant - -
Participant loan repayments - -
Other - -
----------- -----------
Total additions 6,068 -
----------- -----------
DEDUCTIONS:
Payment of benefits - -
Participant loan withdrawals - -
Other - -
----------- -----------
Total deductions - -
----------- -----------
Net increase (decrease) prior to interfund
transfers 6,068 -
Interfund transfers, net - -
Asset transfers from Merrill Lynch
to Vanguard (1,043,648) (3,243,659)
----------- -----------
Net increase (decrease) (1,037,580) (3,243,659)
NET ASSETS AVAILABLE FOR
PLAN BENEFITS:
Beginning of period 1,037,580 3,243,659
----------- -----------
End of period $ - $ -
=========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
F-5
<PAGE> 7
Page 2 of 2
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS,
WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1998
<TABLE>
<CAPTION>
Vanguard Fiduciary Trust Company
--------------------------------------------------------------------------
Templeton Vanguard
AIM Developing Vanguard Extended Vanguard
Constellation Markets 500 Market International
Fund, Trust - Index Index Growth
Class A Class I Fund Fund Fund
------------- ------------ ------------ ------------ -------------
<S> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ 109,919 $ 510 $ 153,906 $ 4,671 $ 23,225
Interest income, participant loans - - - - -
Net appreciation (depreciation)
in the fair value of investments 253,413 (2,610) 2,082,302 (4,867) 154,255
------------ ------------ ------------ ------------ ------------
Total investment income (loss) 363,332 (2,100) 2,236,208 (196) 177,480
------------ ------------ ------------ ------------ ------------
Contributions-
Employer 162,711 3,067 530,556 6,352 74,477
Participant 375,121 8,735 1,274,283 30,357 186,917
Participant loan repayments 172,316 881 518,349 3,731 58,178
Other - - - - -
------------ ------------ ------------ ------------ ------------
Total additions 1,073,480 10,583 4,559,396 40,244 497,052
------------ ------------ ------------ ------------ ------------
DEDUCTIONS:
Payment of benefits (316,150) - (917,690) (1,849) (103,357)
Participant loan withdrawals (229,120) (935) (663,075) (7,034) (68,474)
Other - - - (224) -
------------ ------------ ------------ ------------ ------------
Total deductions (545,270) (935) (1,580,765) (9,107) (171,831)
------------ ------------ ------------ ------------ ------------
Net increase (decrease) prior to interfund transfers 528,210 9,648 2,978,631 31,137 325,221
Interfund transfers, net 3,923,336 15,966 (154,033) 37,689 (124,482)
Asset transfers from Merrill Lynch to Vanguard - - 7,373,857 - 961,137
------------ ------------ ------------ ------------ ------------
Net increase (decrease) 4,451,546 25,614 10,198,455 68,826 1,161,876
NET ASSETS AVAILABLE FOR PLAN
BENEFITS:
Beginning of period - - - - -
------------ ------------ ------------ ------------ ------------
End of period $ 4,451,546 $ 25,614 $ 10,198,455 $ 68,826 $ 1,161,876
============ ============ ============ ============ ============
<CAPTION>
Vanguard Fiduciary Trust Company
--------------------------------------------------------------------------
Vanguard Vanguard Vanguard
LifeStrategy Vanguard Vanguard LifeStrategy Prime
Conservative LifeStrategy LifeStrategy Moderate Money
Growth Growth Income Growth Market
Fund Fund Fund Fund Fund
------------ ------------ ------------ ------------ -----------
<S> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ 88,172 $ 53,319 $ 35,716 $ 145,577 $ 230,989
Interest income, participant loans - - - - -
Net appreciation (depreciation)
in the fair value of investments 141,722 204,237 29,817 371,627 -
------------ ------------ ------------ ------------ ------------
Total investment income (loss) 229,894 257,556 65,533 517,204 230,989
------------ ------------ ------------ ------------ ------------
Contributions-
Employer 96,870 110,821 33,496 199,493 330,826
Participant 217,363 240,997 91,386 454,883 633,556
Participant loan repayments 82,043 108,287 30,905 168,655 299,755
Other - - - - 574
------------ ------------ ------------ ------------ ------------
Total additions 626,170 717,661 221,320 1,340,235 1,495,700
------------ ------------ ------------ ------------ ------------
DEDUCTIONS:
Payment of benefits (263,114) (148,548) (113,552) (252,781) (819,360)
Participant loan withdrawals (128,035) (130,359) (27,835) (259,747) (263,826)
Other - - - - -
------------ ------------ ------------ ------------ ------------
Total deductions (391,149) (278,907) (141,387) (512,528) (1,083,186)
------------ ------------ ------------ ------------ ------------
Net increase (decrease) prior to interfund transfers 235,021 438,754 79,933 827,707 412,514
Interfund transfers, net (113,782) 47,402 (1,379) 117,956 268,387
Asset transfers from Merrill Lynch to Vanguard 1,534,840 1,043,648 546,122 2,504,014 4,232,520
------------ ------------ ------------ ------------ ------------
Net increase (decrease) 1,656,079 1,529,804 624,676 3,449,677 4,913,421
NET ASSETS AVAILABLE FOR PLAN
BENEFITS:
Beginning of period - - - - -
------------ ------------ ------------ ------------ ------------
End of period $ 1,656,079 $ 1,529,804 $ 624,676 $ 3,449,677 $ 4,913,421
============ ============ ============ ============ ============
<CAPTION>
Vanguard Fiduciary Trust Company
----------------------------------------------------------
Vanguard
Total
Bond
Market AIM Newmont
Index Constellation Stock Participant
Fund Fund Fund Loans Total
------------ ------------- ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ 7,240 $ 10 $ 6,246 $ - $ 861,147
Interest income, participant loans - - - 302,397 302,397
Net appreciation (depreciation)
in the fair value of investments (325) 376,437 (472,064) - 3,217,236
------------ ------------ ------------ ------------ ------------
Total investment income (loss) 6,915 376,447 (465,818) 302,397 4,380,780
------------ ------------ ------------ ------------ ------------
Contributions-
Employer 7,358 122,068 96,949 - 1,775,044
Participant 22,608 303,749 225,156 - 4,065,111
Participant loan repayments 7,262 120,253 84,832 (1,655,447) -
Other - - - - 574
------------ ------------ ------------ ------------ ------------
Total additions 44,143 922,517 (58,881) (1,353,050) 10,221,509
------------ ------------ ------------ ------------ ------------
DEDUCTIONS:
Payment of benefits (726) (197,616) (167,764) (388,059) (3,690,566)
Participant loan withdrawals (13,555) (162,236) (80,621) 2,034,852 -
Other - - - - (224)
------------ ------------ ------------ ------------ ------------
Total deductions (14,281) (359,852) (248,385) 1,646,793 (3,690,790)
------------ ------------ ------------ ------------ ------------
Net increase (decrease) prior to interfund transfers 29,862 562,665 (307,266) 293,743 6,530,719
Interfund transfers, net 268,909 (4,636,035) 350,066 - -
Asset transfers from Merrill Lynch to Vanguard - 4,073,370 1,162,861 3,243,657 -
------------ ------------ ------------ ------------ ------------
Net increase (decrease) 298,771 - 1,205,661 3,537,400 6,530,719
NET ASSETS AVAILABLE FOR PLAN
BENEFITS:
Beginning of period - - - - 26,591,087
------------ ------------ ------------ ------------ ------------
End of period $ 298,771 $ - $ 1,205,661 $ 3,537,400 $ 33,121,806
============ ============ ============ ============ ============
</TABLE>
The accompanying notes are an integral part of this statement.
F-6
<PAGE> 8
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
NOTES TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES
DECEMBER 31, 1998 AND 1997
(1) DESCRIPTION OF PLAN
The following description of the Newmont Retirement Savings Plan for
Hourly-Rated Employees (the "Plan") (formerly known as Newmont Gold Company
Hourly Retirement Savings Plan) provides only general information. Participants
should refer to the Plan document for a more complete description of the Plan's
provisions.
General
The Plan was established on October 1, 1991 by Newmont Gold Company (the
"Company"). The Plan is a collectively bargained, defined contribution plan
subject to the provisions of the Employee Retirement Income Security Act of 1974
("ERISA"). Benefits under the Plan are not subject to guarantee by the Pension
Benefit Guaranty Corporation.
Plan Amendment
Effective January 1, 1998, the Plan was amended and restated to appoint a new
trustee, administrator and custodian ("Trustee"). Plan assets transferred to the
new Trustee were transferred into investment funds comparable to those
maintained by the previous custodian. As a result of the transfer, a "Black Out"
period commenced beginning December 17, 1997 and continued through February 13,
1998. During the Black Out period, employee and matching employer contributions
continued and were deposited and held in a temporary Equity Fund. Subsequent to
the Black Out period, these Equity Fund contributions were transferred into
appropriate investment funds, as designated by each participant.
Trust
Trustee, record keeping and investment management services were transferred on
January 1, 1998 from Merrill Lynch Group Employee Services to the Vanguard
Group, Inc. ("Vanguard").
F-7
<PAGE> 9
An Investment Committee of not less than three nor more than five members is
appointed by the Company's Board of Directors. The Investment Committee
evaluates the performance of the Trustee, may retain independent advisors and
consultants, and selects the investment fund options offered under the Plan.
Eligibility and Contributions
Hourly employees are eligible to participate in the Plan on the first day of the
first month following 45 days of work. Participants may elect to contribute to
the Plan up to 15% of their Plan eligible compensation, to a maximum of $10,000
on a pre-tax basis for the 1998 Plan year. Participants' contributions are
matched 100% by the Company, not to exceed 5% of all regular compensation.
Effective January 1, 1999, the Company match may be made in the Company's parent
stock. Total annual additions under the Plan and all other plans sponsored by
the Company are limited to the lesser of 25% of eligible compensation or
$30,000. Annual additions are defined as the participant's contributions and the
Company's matching contributions.
Vesting
Participants are fully vested in their contributions. Participants are vested in
Company contributions 20% for each year of service, up to a maximum of 100%
after four years of service. Additionally, participants may become fully vested
in the matching Company contributions upon death, retirement, change in Company
control or termination of the Plan.
Forfeited non-vested account balances are applied to future Company matching
contributions. During 1998, no contributions were reduced as a result of these
forfeitures. At December 31, 1998 and 1997, forfeited non-vested accounts
totaled $196,149 and $38,946, respectively.
Under Plan provisions, the Trustee may accept "rollover contributions" from
participants. Rollover contributions represent distributions to a participant
from another plan, which plan meets the requirements of Section 401(a) of the
Internal Revenue Code (the "Code"). Rollover contributions are fully vested and
are not taken into account, or do not affect in any way, the maximum annual
contribution limitation.
Participant Accounts
An individual plan account is maintained for each participant within the Plan.
Each participant's account is credited with the participant's contributions, the
corresponding Company matching contributions and an allocation of plan earnings
calculated daily, based on participant account balances.
Payment of Benefits
Upon retirement, death, disability, or termination of service, a participant may
elect to receive a lump sum distribution equal to his or her vested account
balance. Hardship withdrawals are also allowed if certain criteria are met.
F-8
<PAGE> 10
Investments
Participants may currently invest their contributions and their corresponding
Company matching contributions in the following investment funds:
o AIM Constellation Fund, Class A - Seeks capital appreciation. The fund
invests primarily in common stocks, emphasizing small to mid-size
emerging-growth companies.
o Templeton Developing Markets Trust - Class I - Seeks long-term capital
appreciation. The fund normally invests at least 65% of assets in equity
securities of developing markets issuers. It maintains investments in at
least three developing markets.
o Vanguard 500 Index Fund - Seeks to provide long-term growth of capital
and income from dividends by holding all of the 500 stocks that make up
the unmanaged Standard & Poor's 500 Composite Stock Price Index, a
widely recognized benchmark of U.S. stock market performance.
o Vanguard Extended Market Index Fund - Seeks to provide long-term growth
of capital by attempting to match the performance of the Wilshire 4500
Equity index, an unmanaged index made up mostly of mid and
small-capitalization companies.
o Vanguard International Growth Fund - Seeks to provide long-term growth
of capital by investing stocks of high-quality, seasoned companies based
outside the United States. Stocks are selected from more than 15
countries.
o Vanguard LifeStrategy Conservative Growth Fund - Seeks to provide a high
level of income and moderate long-term growth of capital and income by
investing in five Vanguard funds; a domestic stock fund, an
international stock fund, two bond funds, and an asset allocation fund.
The fund's asset allocation ranges are expected to be 25% - 50% stocks,
50% - 75% bonds, and 0% - 25% cash investments.
o Vanguard LifeStrategy Growth Fund - Seeks to provide long-term growth
of capital by investing in four other Vanguard funds: a domestic stock
fund, an international stock fund, a bond fund, and an asset allocation
fund. The fund's asset allocation ranges are expected to be 65% - 90%
stocks, 10% - 35% bonds, and 0% - 25% cash investments.
o Vanguard LifeStrategy Income Fund - Seeks to provide a high level of
income by investing in four Vanguard funds: a stock fund, two bond
funds, and an asset allocation fund. The fund's asset allocation ranges
are expected to be 5% - 30% stocks, 70% - 95% bonds, and 0% - 25% cash
investments.
o Vanguard LifeStrategy Moderate Growth Fund - Seeks to provide a
reasonable level of income and long-term growth of capital and income by
investing in four Vanguard funds: a domestic stock fund, an
international stock fund, a bond fund, and an asset allocation fund. The
fund's asset allocation ranges are expected to be 45% - 70% stocks, 30%
- 55% bonds, and 0% - 25% cash investments.
F-9
<PAGE> 11
o Vanguard Prime Money Market Fund - Seeks to provide high income and a
stable share price of $1 by investing in short-term, high-quality money
market instruments issued by financial institutions, nonfinancial
corporations, the U.S. government, and federal agencies.
o Vanguard Total Bond Market Index Fund - Seeks to provide a high level of
interest income by attempting to match the performance of the unmanaged
Lehman Brothers Aggregate Bond Index, which is a widely recognized
measure of the entire taxable U.S. bond market.
o Newmont Stock Fund - Invests in the common stock of the Newmont Mining
Corporation. Seeks to provide the potential for long-term growth through
increases in the value of the stock and reinvestment of its dividends.
Participants' investment choices with the previous trustee included the
following investment funds:
o PIMCO Low Duration Fund - Holds cash and shares of the PIMCO Low
Duration Mutual Fund which invests in a diversified portfolio of
fixed-income securities with an average duration between one and three
years.
o Neuberger & Berman Guardian Trust - A growth and income fund which
invests in stocks of established high-quality companies considered to be
undervalued in comparison to stocks of similar companies.
o Merrill Lynch - MasterWorks S&P 500 Stock Fund - Invests in the
companies included in the Standard & Poor's 500 Index.
o AIM Constellation Fund - Aggressively seeks capital appreciation by
investing principally in common stocks, with emphasis on medium-sized
and smaller emerging-growth companies.
o Templeton Foreign Fund - Seeks long-term capital growth through a
flexible policy of investing in stocks and debt obligations of companies
and governments outside the United States.
o Newmont Gold Company Common Stock Fund - Invests solely in the common
stock of Newmont Gold Company.
o Merrill Lynch - U.S. Government Money Market Fund - Invests primarily in
securities of the U.S. Government or its agencies with maturities of
less than one year.
o Merrill Lynch - LifePath Collective (five fund elections) - The LifePath
Funds invest in a changing mix of U.S. and international stocks, bonds,
and money market securities according to the targeted retirement year of
the investor.
F-10
<PAGE> 12
The cost basis of the Plan's investment funds was $30,815,119 and $24,555,157 at
December 31, 1998 and 1997, respectively. The fair market value of individual
investment funds representing 5% or more of the Plan's net assets as of December
31, 1998 and 1997 were as follows:
<TABLE>
<CAPTION>
1998
-----------
<S> <C>
AIM Constellation Fund, Class A $ 4,421,974
Vanguard 500 Index Fund 10,138,146
Vanguard LifeStrategy Moderate Growth Fund 3,428,657
Vanguard Prime Money Market Fund 4,881,300
Participant Loans 3,537,400
</TABLE>
<TABLE>
<CAPTION>
1997
-----------
<S> <C>
PIMCO Low Duration Fund $ 1,392,244
Neuberger & Berman Guardian Trust 3,562,613
MasterWorks S&P 500 Stock Fund 3,713,606
AIM Constellation Fund 4,076,223
Merrill Lynch - U.S. Government
Money Market Fund 2,791,838
Merrill Lynch - LifePath 2010 Fund 1,526,757
Merrill Lynch - LifePath 2020 Fund 1,564,776
Participant Loans 3,243,659
</TABLE>
Loans
Loans may be made to participants from their individual plan account, with a
minimum loan amount of $1,000 and a maximum amount equal to the lesser of (a)
50% of such participant's vested balance or (b) $50,000. The interest rate on
such loans is determined by the Trustee and is based on the prime lending rate
at the date of the loan, plus 1%, and is fixed over the term of the loan. The
term/repayment period may be up to five years, or up to 15 years if loan
proceeds are used for the purchase of a principal residence.
(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
The accompanying financial statements are prepared on the accrual basis of
accounting. The preparation of the financial statements in conformity with
generally accepted accounting principles requires the Plan's management to use
estimates and assumptions that affect the accompanying financial statements and
disclosures. Actual results could differ from these estimates.
F-11
<PAGE> 13
Valuation of Investments
The Plan's investment funds are stated at fair value based on quoted market
prices, which was readily determinable at December 31, 1998 and 1997. Cash
equivalents and participant loans are stated at cost which approximates fair
value.
Net Appreciation (Depreciation) in Fair Value of Investments
The increase (decrease) in the fair value of investments held in the Plan are
reflected in the Statement of Changes in Net Assets Available for Plan Benefits
as net appreciation (depreciation) in fair value of investments.
Payment of Benefits
Benefit payments are recorded when paid.
Administrative Fees
The Company pays all administrative expenses of the Plan, except for loan
processing fees on loans initiated subsequent to October 1, 1995.
(3) PLAN TERMINATION
Although the Company expects to continue the Plan indefinitely, in the event of
(a) termination with respect to a group or class of participants ("partial
termination") or (b) a partial discontinuance of contributions, the unvested
portion of Company matching contributions for participants subject to such
partial termination or partial discontinuance will become fully vested and
non-forfeitable.
(4) TAX STATUS
A favorable determination letter dated December 4, 1996 has been received from
the IRS stating that the Trust established under the Plan is exempt from Federal
income taxes. Such exemption results from meeting requirements of a qualified
plan under the Code. While the Plan has been subsequently amended from time to
time, the Plan Administrator and outside legal counsel believe that such
amendments have not affected the Plan's status as a qualified plan and that the
Plan continues to be in compliance with such requirements.
(5) RELATED PARTY TRANSACTIONS
Plan assets are invested in shares of mutual funds managed by an affiliate of
Vanguard Fiduciary Trust Company ("VFTC"). VFTC acts as trustee for only those
investments as defined by the Plan. Plan assets are also invested in units of
collective funds and mutual funds managed by Merrill Lynch, the former trustee
of the Plan. Transactions in such investments qualify as party-in-interest
transactions that are exempt from prohibited transaction rules. Certain plan
assets are invested in shares of Newmont Mining Corporation, the parent of the
Plan sponsor.
F-12
<PAGE> 14
(6) RISKS AND UNCERTAINTIES
The Plan provides for various investment options in mutual funds and other
investments. Investments, in general, are exposed to various risks, such as
interest rate, market volatility and credit risks. Due to the level of risks
associated with certain investments, it is reasonably possible that changes in
the values of investments will occur in the near term and that such changes
could materially affect participants' account balances and the amounts reported
in the Statements of Net Assets Available for Plan Benefits with Fund
Information.
At December 31,1998 and 1997, the Plan held no derivative instruments directly.
However, the Plan held such instruments indirectly through their investments in
the collective investment funds and mutual funds, which under the trust
agreements, may invest in such instruments. These instruments consist mainly of
futures contracts and options. Credit risk exists with respect to these
instruments. The credit related gains and losses during the year ended December
31, 1998 were immaterial.
(7) POTENTIAL PARTIAL PLAN TERMINATION
As a result of recent workforce reductions, there has been a decrease in the
number of Plan participants. The Trustee is consulting with its legal counsel in
order to determine whether or not a partial plan termination may have occurred.
If a partial termination has occurred, affected Participants will become fully
vested as discussed in Note 3.
F-13
<PAGE> 15
SCHEDULE I
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27a--SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Name of Issue, Borrower, Cost Current
Lessor or Similar Party Involved Description of Investment Basis Value
- -------------------------------------- ----------------------------- ----------- -----------
<S> <C> <C> <C>
AIM Constellation Fund, Class A Registered Investment Company $ 4,118,008 $ 4,421,974
Templeton Developing Markets
Trust - Class I Registered Investment Company 26,907 25,157
*Vanguard 500 Index Fund Registered Investment Company 8,287,272 10,138,146
*Vanguard Extended Market Index Fund Registered Investment Company 70,389 67,798
*Vanguard International Growth Fund Registered Investment Company 1,029,693 1,153,505
*Vanguard LifeStrategy Conservative
Growth Fund Registered Investment Company 1,529,725 1,645,915
*Vanguard LifeStrategy Growth Fund Registered Investment Company 1,345,260 1,518,126
*Vanguard LifeStrategy Income Fund Registered Investment Company 596,443 620,050
*Vanguard LifeStrategy Moderate Growth
Fund Registered Investment Company 3,102,485 3,428,657
*Vanguard Prime Money Market Fund Registered Investment Company 4,881,300 4,881,300
*Vanguard Total Bond Market Index Fund Registered Investment Company 296,535 296,193
*Newmont Stock Fund Employer Stock Fund 1,993,702 1,195,698
Participant Loans (a) Interest rates ranging
from 8.24% - 10.00% 3,537,400 3,537,400
----------- -----------
$30,815,119 $32,929,919
=========== ===========
</TABLE>
* Represents a party-in-interest (Note 5).
(a) Participant Loans under the Plan bear interest at prime, as of the date of
borrowing, plus one percent.
The accompanying notes are an integral part of this schedule.
F-14
<PAGE> 16
SCHEDULE II
Page 1 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b--SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
-------------------------------------- Amount Overdue
Original Unpaid ----------------------
Identity of Amount Estimated Balance at Description Estimated
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------------------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Michael M. Martin $ 3,082 $1,403 $ 272 $ 1,606 Loan issue date 1/06/98 $141 $ 19
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Leonard G. Smith 14,040 92 54 13,948 Loan issue date 10/19/98 278 161
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Leland C. Smith 5,700 -- -- 5,700 Loan issue date 10/27/98 150 88
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Harold L. Jatkola 5,000 767 273 4,262 Loan issue date 4/22/98 189 51
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
James E. Crigler 2,566 500 203 2,066 Loan issue date 1/06/98 116 32
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-15
<PAGE> 17
SCHEDULE II
Page 2 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b--SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
-------------------------------------
Amount Overdue
Original Unpaid ----------------------
Identity of Amount Estimated Balance at Description Estimated
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ------------------------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Richard C. Ryan $ 2,800 $ 72 $ 46 $ 2,782 Loan issue date 6/23/98 $ 147 $ 88
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Robert J. Stepper 12,174 1,570 973 10,395 Loan issue date 1/06/98 371 165
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Elliott J. Teague 12,000 6,211 616 5,139 Loan issue date 4/02/98 2,019 81
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Larry W. Cluff 5,000 1,181 391 3,625 Loan issue date 1/06/98 273 57
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-16
<PAGE> 18
SCHEDULE II
Page 3 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b--SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
------------------------------------- Amount Overdue
Original Unpaid ----------------------
Identity of Amount Estimated Balance at Description Estimate
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------------------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Mark J. Meeks $8,760 $1,288 $699 $7,309 Loan issue date 1/06/98 $303 $116
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Kirk M. Morgan 1,347 180 108 1,144 Loan issue date 1/06/98 42 18
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Jon 0. Wossom 5,115 828 396 4,188 Loan issue date 1/06/98 193 65
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-17
<PAGE> 19
SCHEDULE II
Page 4 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b--SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
------------------------------------ Amount Overdue
Original Unpaid ----------------------
Identity of Amount Estimated Balance at Description Estimated
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------------------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Don L. Gilbert $ 8,500 $ 804 $533 $ 7,644 Loan issue date 3/16/98 $177 $ 91
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Jon A. Heathman 13,800 1,305 866 12,411 Loan issue date 3/24/98 287 147
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Clinton E. Finlayson 2,100 318 67 1,736 Loan issue date 6/10/98 124 21
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Gregory P. Bjork 7,569 1,074 638 6,352 Loan issue date 1/06/98 181 75
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-18
<PAGE> 20
SCHEDULE II
Page 5 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b-SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
----------------------------------- Amount Overdue
Original Unpaid ------------------------
Identity of Amount Estimated Balance at Description Estimated
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------------------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Travis J. Yocum $5,000 $ 134 $164 $4,876 Loan issue date 7/06/98 $ 54 $ 58
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Gary L. Wogan 6,796 1,746 568 4,856 Loan issue date 1/06/98 289 58
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Edward D. Triplett 7,500 194 121 7,303 Loan issue date 8/25/98 199 116
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Michael M. Silva 1,349 66 11 1,283 Loan issue date 1/06/98 698 107
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-19
<PAGE> 21
SCHEDULE II
Page 6 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b-- SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
------------------------------------- Amount Overdue
Original Unpaid -----------------------
Identity of Amount Estimated Balance at Description Estimated
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------------------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
William W. Harden $ 3,376 $ 534 $ 262 $ 2,778 Loan issue date 1/06/98 $125 $ 43
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Kenneth E. Marlar 9,000 347 219 8,644 Loan issue date 8/04/98 180 103
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Charles E. Wright 12,773 1,949 1,076 10,573 Loan issue date 1/06/98 328 126
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-20
<PAGE> 22
SCHEDULE II
Page 7 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b--SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
------------------------------------- Amount Overdue
Original Unpaid -----------------------
Identity of Amount Estimated Balance at Description Estimated
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------------------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Richard P. Medina $ 9,040 $ 91 $334 $ 8,948 Loan issue date 6/24/98 $ 35 $106
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Wayne A. Overholser 12,395 1,674 991 10,510 Loan issue date 1/06/98 395 166
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Marvin Pierce 2,617 506 202 2,051 Loan issue date 1/06/98 117 32
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Ronald D. Kirkham 7,600 1,002 642 6,462 Loan issue date 1/06/98 170 77
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-21
<PAGE> 23
SCHEDULE II
Page 8 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b--SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
------------------------------------ Amount Overdue
Original Unpaid -----------------------
Identity of Amount Estimated Balance at Description Estimated
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------------------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Grady S. Hansen $5,675 $ 755 $453 $4,821 Loan issue date 1/06/98 $178 $ 76
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Ray 0. Zumwalt 9,400 538 349 8,902 Loan issue date 6/26/98 190 106
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Jay B. Nixon 3,498 578 365 3,068 Loan issue date 1/06/98 29 12
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Ramon A. Macias 4,000 1,226 321 3,227 Loan issue date 4/27/98 78 13
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-22
<PAGE> 24
SCHEDULE II
Page 9 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b--SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
------------------------------------- Amount Overdue
Original Unpaid ----------------------
Identity of Amount Estimated Balance at Description Estimated
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Matthew J. Holford $ 3,706 $ 572 $371 $ 3,138 Loan issue date 1/06/98 $28 $13
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Thomas J. Bruns 5,000 999 496 3,960 Loan issue date 1/06/98 49 16
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Donald T. Hasselblad 12,500 1,020 683 11,584 Loan issue date 6/09/98 86 45
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Robert J. Yocum 3,540 533 195 3,062 Loan issue date 6/12/98 43 13
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-23
<PAGE> 25
SCHEDULE II
Page 10 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b--SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
------------------------------------ Amount Overdue
Original Unpaid ----------------------
Identity of Amount Estimated Balance at Description Estimate
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------------------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Richard C. Knapp $ 8,708 $ 842 $ 445 $ 7,973 Loan issue date 6/09/98 $ 68 $31
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
David P. Manley 25,900 1,799 1,182 24,179 Loan issue date 7/01/98 176 95
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Tom E. Senecal 6,990 1,032 693 5,891 Loan issue date 1/06/98 52 23
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Fred A. Critchlow 1,500 646 69 892 Loan issue date 6/30/98 61 4
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-24
<PAGE> 26
SCHEDULE II
Page 11 of 11
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27b--SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year
------------------------------------- Amount Overdue
Original Unpaid ----------------------
Identity of Amount Estimated Balance at Description Estimated
Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------------ -------- --------- --------- ----------- ----------------------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Gerardo C. Cruz $ 1,500 $ 359 $ 83 $ 1,180 Loan issue date 6/09/98 $ 29 $ 5
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Joe E. Gillespie 6,000 771 274 5,265 Loan issue date 7/01/98 75 20
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Luis C. Gutierrez 2,000 929 198 1,054 Loan issue date 1/06/98 45 4
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Norman G. Moser 21,300 1,481 972 19,884 Loan issue date 7/01/98 145 78
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
</TABLE>
The accompanying notes are an integral part of this schedule.
F-25
<PAGE> 27
SCHEDULE III
Page 1 of 2
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27d-SCHEDULE OF REPORTABLE TRANSACTIONS(a)
JANUARY 1, 1998 THROUGH DECEMBER 31, 1989
(a) Individual or series of transactions which, when aggregated, involve an
amount in excess of 5% of plan assets as of the beginning of the plan year.
Purchases and sales are made at current value on the date of the
transaction.
<TABLE>
<CAPTION>
Number of
Transactions
-------------------- Purchase Selling Cost of Gain or
Name of Issuer or Party Involved Purchases Sales Price Price Asset (Loss)
- ----------------------------------------------- --------- ----- ----------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
*The Vanguard Fiduciary Trust Company -
AIM Constellation Fund, Class A 67 -- $ 5,216,147 $ -- $ -- $ --
AIM Constellation Fund, Class A -- 100 -- 1,047,586 1,095,998 (48,412)
Vanguard 500 Index Fund 153 -- 10,716,556 -- -- --
Vanguard 500 Index Fund -- 175 -- 2,660,713 2,439,659 221,054
Vanguard International Growth Fund 81 -- 1,361,021 -- -- --
Vanguard International Growth Fund -- 90 -- 361,770 331,124 30,646
Vanguard LifeStrategy Conservative Growth Fund 69 -- 2,192,032 -- -- --
Vanguard LifeStrategy Conservative Growth Fund -- 58 -- 687,839 662,353 25,486
Vanguard LifeStrategy Growth Fund 87 -- 1,794,624 -- -- --
Vanguard LifeStrategy Growth Fund -- 74 -- 480,736 449,792 30,944
Vanguard LifeStrategy Moderate Growth Fund 85 -- 3,767,975 -- -- --
Vanguard LifeStrategy Moderate Growth Fund -- 96 -- 710,944 665,490 45,454
Vanguard LifeStrategy Money Market Fund 176 -- 6,854,913 -- -- --
Vanguard LifeStrategy Money Market Fund -- 143 -- 1,973,613 1,973,613 --
AIM Constellation Fund 42 -- 4,736,910 -- -- --
AIM Constellation Fund -- 55 -- 5,113,347 4,739,160 374,187
*Newmont Gold Company -
Newmont Stock Fund 106 -- 2,248,113 -- -- --
Newmont Stock Fund -- 131 -- 580,351 741,220 (160,869)
</TABLE>
*Represents a party-in-interest (Note 5)
The accompanying notes are an integral part of this schedule.
F-26
<PAGE> 28
SCHEDULE III
Page 2 of 2
NEWMONT RETIREMENT SAVINGS PLAN
FOR HOURLY-RATED EMPLOYEES
Item 27d--SCHEDULE OF REPORTABLE TRANSACTIONS(a)
JANUARY 1, 1998 THROUGH DECEMBER 31, 1998
(a) Individual or series of transactions which, when aggregated, involve an
amount in excess of 5% of plan assets as of the beginning of the plan
year. Purchases and sales are made at current value on the date of the
transaction.
<TABLE>
<CAPTION>
Number of
Transactions
-------------------- Purchase Selling Cost of Gain or
Name of Issuer or Party Involved Purchases Sales Price Price Asset (Loss)
- ----------------------------------- --------- ----- -------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
*Merrill Lynch Trust Company-
U.S. Government Money Market Fund 1 -- $ 36 $ -- $ -- $ --
U.S. Government Money Market Fund -- 1 -- 2,791,874 2,791,874 --
PIMCO Low Duration Fund 1 -- 14 -- -- --
PIMCO Low Duration Fund -- 1 -- 1,400,087 1,217,209 182,878
Neuberger & Berman Guardian Trust 1 -- 29 -- -- --
Neuberger & Berman Guardian Trust -- 1 -- 3,634,717 3,172,474 462,243
MasterWorks S&P 500 Fund 1 -- 36 -- -- --
MasterWorks S&P 500 Fund -- 1 -- 3,739,140 2,966,073 773,067
AIM Constellation Fund 1 -- 237 -- -- --
AIM Constellation Fund -- 1 -- 4,073,370 3,854,714 218,656
LifePath 2010 Fund -- -- -- -- -- --
LifePath 2010 Fund -- 1 -- 1,534,840 1,299,239 235,601
LifePath 2020 Fund -- -- -- -- -- --
LifePath 2020 Fund -- 1 -- 1,574,236 1,276,214 298,022
</TABLE>
*Represents a party-in-interest (Note 5)
The accompanying notes are an integral part of this schedule.
F-27
<PAGE> 29
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees (or other persons who administer the employee benefit plan) have
duly caused this annual report to be signed on its behalf by the undersigned
hereunto duly authorized.
NEWMONT MINING CORPORATION
RETIREMENT SAVINGS PLAN FOR HOURLY-RATED EMPLOYEES
By: /s/ Orlando Esquibel
-----------------------------------------
Orlando Esquibel
Administration Committee Member
Dated: June 29, 1999 By: /s/ Timothy J. Schmitt
-------------------- ------------------------------------------
Timothy J. Schmitt
Vice President, Secretary and
Assistant General Counsel
<PAGE> 30
EXHIBIT INDEX
Exhibit No. Exhibit
- ----------- -------
23 Consent of Arthur Andersen LLP
<PAGE> 1
EXHIBIT 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation by
reference of our report dated June 28, 1999, included in this Form 11-K, into
the Company's previously filed Form S-8 Registration Statement File Numbers;
333-75993 and 333-69145.
\s\ ARTHUR ANDERSEN LLP
Denver, Colorado
June 28, 1999
