<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 (NON-UNION)
-----------------------------------
(Title of Plans)
NEWMONT MINING CORPORATION
--------------------------
(Issuer of Securities)
1700 Lincoln Street, Denver, Colorado 80203
-------------------------------------------
(Principal Executive Office)
<PAGE> 2
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
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-18
Schedule III--Item 27d--Schedule of Reportable Transactions,
January 1, 1998 through December 31, 1998 F-19 - F-20
F-1
<PAGE> 3
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Participants and Administration Committee of the
Newmont Retirement Savings Plan (Non-Union):
We have audited the accompanying statements of net assets available for plan
benefits, with fund information, of the NEWMONT RETIREMENT SAVINGS PLAN
(NON-UNION) (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
- ---------------------------
Arthur Andersen LLP
Denver, Colorado,
June 28, 1999.
F-2
<PAGE> 4
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
AS OF 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>
INVESTMENTS, at fair value:
Registered investment companies/
mutual funds $12,744,491 $221,861 $44,996,036 $356,164 $6,679,302
Employer stock fund - - - - -
Participant loans - - - - -
----------- -------- ----------- -------- ----------
Total investments 12,744,491 221,861 44,996,036 356,164 6,679,302
----------- -------- ----------- -------- ----------
RECEIVABLES:
Employer/participant contributions 2,220 60 4,139 30 674
----------- -------- ----------- -------- ----------
NET ASSETS AVAILABLE
FOR PLAN BENEFITS $12,746,711 $221,921 $45,000,175 $356,194 $6,679,976
=========== ========= =========== ======== ==========
<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>
INVESTMENTS, at fair value:
Registered investment companies/
mutual funds $4,633,253 $2,424,847 $2,314,260 $12,926,239 $29,779,994
Employer stock fund - - - - -
Participant loans - - - - -
---------- ---------- ---------- ----------- -----------
Total investments 4,633,253 2,424,847 2,314,260 12,926,239 29,779,994
---------- ---------- ---------- ----------- -----------
RECEIVABLES:
Employer/participant contributions 459 434 198 1,905 3,384
---------- ---------- ---------- ----------- -----------
NET ASSETS AVAILABLE
FOR PLAN BENEFITS $4,633,712 $2,425,281 $2,314,458 $12,928,144 $29,783,378
========== ========== ========== =========== ===========
<CAPTION>
Vanguard Fiduciary Trust Company
----------------------------------------------------------
Total
Bond
Market Newmont
Index Stock Participant
Fund Fund Loans Total
----------- ---------- ----------- ------------
<S> <C> <C> <C> <C>
INVESTMENTS, at fair value:
Registered investment companies/
mutual funds $2,567,496 $ - $ - $119,643,943
Employer stock fund - 7,153,778 - 7,153,778
Participant loans - - 7,713,683 7,713,683
---------- ---------- ---------- ------------
Total investments 2,567,496 7,153,778 7,713,683 134,511,404
---------- ---------- ---------- ------------
RECEIVABLES:
Employer/participant contributions 355 1,171 - 15,029
---------- ---------- ---------- ------------
NET ASSETS AVAILABLE
FOR PLAN BENEFITS $2,567,851 $7,154,949 $7,713,683 $134,526,433
========== ========== ========== ============
</TABLE>
The accompanying notes are an integral part of this statement.
F-3
<PAGE> 5
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
Merrill Lynch Trust Company
------------------------------------------------------------------------
Neuberger
PIMCO &
Low Berman MasterWorks AIM Templeton
Duration Guardian S&P 500 Constellation Foreign
Cash Fund Trust Stock Fund Fund Fund
-------- ---------- ----------- ------------- ------------- -----------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENTS, at fair value:
Cash and cash equivalents $189,902 $ - $ - $ - $ - $ -
Collective investment funds - - - - - -
Registered investment companies/
mutual funds 4,259,647 9,165,836 9,110,416 11,110,450 4,086,098
Employer stock fund - - - - - -
Participant loans - - - - - -
-------- ---------- ---------- ---------- ----------- ----------
Total investments 189,902 4,259,647 9,165,836 9,110,416 11,110,450 4,086,098
-------- ---------- ---------- ---------- ----------- ----------
NET ASSETS AVAILABLE
FOR PLAN BENEFITS $189,902 $4,259,647 $9,165,836 $9,110,416 $11,110,450 $4,086,098
======== ========== ========== ========== =========== ==========
<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>
INVESTMENTS, at fair value:
Cash and cash equivalents $ - $ - $ - $ - $ - $ -
Collective investment funds - 4,405,826 1,561,534 3,084,222 3,688,380 1,636,305
Registered investment companies/
mutual funds - - - - -
Employer stock fund 3,072,410 - - - - -
Participant loans - - - - - -
---------- ---------- ---------- ---------- ---------- ----------
Total investments 3,072,410 4,405,826 1,561,534 3,084,222 3,688,380 1,636,305
---------- ---------- ---------- ---------- ---------- ----------
NET ASSETS AVAILABLE
FOR PLAN BENEFITS $3,072,410 $4,405,826 $1,561,534 $3,084,222 $3,688,380 $1,636,305
========== ========== ========== ========== ========== ==========
<CAPTION>
Merrill Lynch Trust Company
--------------------------------
LifePath
2040 Participant
Fund Loans Total
----------- ----------- -----------
<S> <C> <C> <C>
INVESTMENTS, at fair value:
Cash and cash equivalents $ - $ - $ 189,902
Collective investment funds 1,400,838 - 15,777,105
Registered investment companies/
mutual funds - - 37,732,447
Employer stock fund - - 3,072,410
Participant loans - 3,396,516 3,396,516
---------- ---------- -----------
Total investments 1,400,838 3,396,516 60,168,380
---------- ---------- -----------
NET ASSETS AVAILABLE
FOR PLAN BENEFITS $1,400,838 $3,396,516 $60,168,380
========== ========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
F-4
<PAGE> 6
Page 1 of 2
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
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
-------------------------------------------------------------------------------
PIMCO Neuberger Masterworks
Low & Berman S&P 500 AIM
Duration Guardian Stock Constellation
Cash Fund Trust Fund Fund
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Investment income (loss)-
Interest and dividends $ 154 $ - $ - $ - $ -
Interest income, participant loans - - - - -
Net appreciation (depreciation)
on fair value of investments - 23,954 185,436 62,553 (8,423)
------------ ------------ ------------ ------------ ------------
Total investment income (loss) 154 23,954 185,436 62,553 (8,423)
------------ ------------ ------------ ------------ ------------
Contributions-
Employer - - - - -
Participant - - - - -
Participant loan repayments - - - - -
------------ ------------ ------------ ------------ ------------
Total contributions - - - - -
------------ ------------ ------------ ------------ ------------
Asset transfers from the SFPG
Plan Merger (Note 1) - - - - -
Other additions - - - - -
------------ ------------ ------------ ------------ ------------
Total additions 154 23,954 185,436 62,553 (8,423)
DEDUCTIONS:
Payment of benefits - - - - -
Participant loan withdrawals - - - - -
Other - - - - -
------------ ------------ ------------ ------------ ------------
Total deductions - - - - -
------------ ------------ ------------ ------------ ------------
Net increase (decrease) prior to
interfund transfers 154 23,954 185,436 62,553 (8,423)
Interfund transfers, net - - - - -
Assets transferred from Merrill Lynch
to Vanguard (Note 1) (190,056) (4,283,601) (9,351,272) (9,172,969) (11,102,027)
------------ ------------ ------------ ------------ ------------
Net increase (decrease) (189,902) (4,259,647) (9,165,836) (9,110,416) (11,110,450)
NET ASSETS AVAILABLE FOR
PLAN BENEFITS:
Beginning of period 189,902 4,259,647 9,165,836 9,110,416 11,110,450
------------ ------------ ------------ ------------ ------------
End of period $ - $ - $ - $ - $ -
============ ============ ============ ============ ============
<CAPTION>
Merrill Lynch Trust Company
-------------------------------------------------------------------------------
Newmont
Gold U.S.
Company Government
Templeton Common Money LifePath LifePath
Foreign Stock Market 2000 2010
Fund Fund Fund Fund Fund
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Investment income (loss)-
Interest and dividends $ - $ - $ 2,494 $ - $ -
Interest income, participant loans - - - - -
Net appreciation (depreciation)
on fair value of investments 16,426 (139,866) - 8,243 16,329
------------ ------------ ------------ ------------ ------------
Total investment income (loss) 16,426 (139,866) 2,494 8,243 16,329
------------ ------------ ------------ ------------ ------------
Contributions-
Employer - - - - -
Participant - - - - -
Participant loan repayments - - - - -
------------ ------------ ------------ ------------ ------------
Total contributions - - - - -
------------ ------------ ------------ ------------ ------------
Asset transfers from the SFPG
Plan Merger (Note 1) - - - - -
Other additions - - - - -
------------ ------------ ------------ ------------ ------------
Total additions 16,426 (139,866) 2,494 8,243 16,329
DEDUCTIONS:
Payment of benefits - - - - -
Participant loan withdrawals - - - - -
Other - - - - -
------------ ------------ ------------ ------------ ------------
Total deductions - - - - -
------------ ------------ ------------ ------------ ------------
Net increase (decrease) prior to
interfund transfers 16,426 (139,866) 2,494 8,243 16,329
Interfund transfers, net - - - - -
Assets transferred from Merrill Lynch
to Vanguard (Note 1) (4,102,524) (2,932,544) (4,408,320) (1,569,777) (3,100,551)
------------ ------------ ------------ ------------ ------------
Net increase (decrease) (4,086,098) (3,072,410) (4,405,826) (1,561,534) (3,084,222)
NET ASSETS AVAILABLE FOR
PLAN BENEFITS:
Beginning of period 4,086,098 3,072,410 4,405,826 1,561,534 3,084,222
------------ ------------ ------------ ------------ ------------
End of period $ - $ - $ - $ - $ -
============ ============ ============ ============ ============
<CAPTION>
Merrill Lynch Trust Company
------------------------------------------------------------
LifePath LifePath LifePath
2020 2030 2040 Participant
Fund Fund Fund Loans
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Investment income (loss)-
Interest and dividends $ - $ - $ - $ -
Interest income, participant loans - - - -
Net appreciation (depreciation)
on fair value of investments 22,300 10,215 8,192 -
------------ ------------ ------------ ------------
Total investment income (loss) 22,300 10,215 8,192 -
------------ ------------ ------------ ------------
Contributions-
Employer - - - -
Participant - - - -
Participant loan repayments - - - -
------------ ------------ ------------ ------------
Total contributions - - - -
------------ ------------ ------------ ------------
Asset transfers from the SFPG
Plan Merger (Note 1) - - - -
Other additions - - - -
------------ ------------ ------------ ------------
Total additions 22,300 10,215 8,192 -
DEDUCTIONS:
Payment of benefits - - - -
Participant loan withdrawals - - - -
Other - - - -
------------ ------------ ------------ ------------
Total deductions - - - -
------------ ------------ ------------ ------------
Net increase (decrease) prior to
interfund transfers 22,300 10,215 8,192 -
Interfund transfers, net - - - -
Assets transferred from Merrill Lynch
to Vanguard (Note 1) (3,710,680) (1,646,520) (1,409,030) (3,396,516)
------------ ------------ ------------ ------------
Net increase (decrease) (3,688,380) (1,636,305) (1,400,838) (3,396,516)
NET ASSETS AVAILABLE FOR
PLAN BENEFITS:
Beginning of period 3,688,380 1,636,305 1,400,838 3,396,516
------------ ------------ ------------ ------------
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 (NON-UNION)
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 LifeStrategy
Constellation Markets 500 Market International Conservative
Fund, Trust- Index Index Growth Growth
Class A Class I Fund Fund Fund Fund
------------- ------------ ------------ ------------ ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ 314,887 $ 2,888 $ 717,788 $ 24,890 $ 133,444 $ 235,135
Interest income,
participant loans - - - - - -
Net appreciation
(depreciation)
on fair value of
investments 704,992 (19,338) 9,730,126 (14,089) 907,488 341,573
------------ ------------ ------------ ------------ ------------ ------------
Total investment
income (loss) 1,019,879 (16,450) 10,447,914 10,801 1,040,932 576,708
------------ ------------ ------------ ------------ ------------ ------------
Contributions-
Employer 373,130 17,886 2,194,047 21,617 396,751 168,819
Participant 683,641 34,126 3,774,649 53,481 712,376 335,446
Participant loan
repayments 266,897 7,538 1,282,561 8,783 234,458 133,712
------------ ------------ ------------ ------------ ------------ ------------
Total contributions 1,323,668 59,550 7,251,257 83,881 1,343,585 637,977
------------ ------------ ------------ ------------ ------------ ------------
Asset transfers from
the SFPG Plan Merger
(Note 1) - - 8,010,270 - 2,067,358 117
Other additions - - 567 - 562 -
------------ ------------ ------------ ------------ ------------ ------------
Total additions 2,343,547 43,100 25,710,008 94,682 4,452,437 1,214,802
------------ ------------ ------------ ------------ ------------ ------------
DEDUCTIONS:
Payment of benefits (454,314) (1,048) (4,721,930) (14,333) (512,909) (244,655)
Participant loan
withdrawals (283,401) (5,033) (1,502,019) (5,901) (213,820) (145,348)
Other - - - (1,190) - -
------------ ------------ ------------ ------------ ------------ ------------
Total deductions (737,715) (6,081) (6,223,949) (21,424) (726,729) (390,003)
------------ ------------ ------------ ------------ ------------ ------------
Net increase (decrease)
prior to interfund
transfers 1,605,832 37,019 19,486,059 73,258 3,725,708 824,799
Interfund transfers,
net 11,139,811 184,902 6,988,419 282,936 (1,148,256) 708,362
Assets transferred from
Merrill Lynch to
Vanguard (Note 1) 1,068 - 18,525,697 - 4,102,524 3,100,551
------------ ------------ ------------ ------------ ------------ ------------
Net increase (decrease) 12,746,711 221,921 45,000,175 356,194 6,679,976 4,633,712
NET ASSETS AVAILABLE
FOR PLAN BENEFITS:
Beginning of period - - - - - -
------------ ------------ ------------ ------------ ------------ ------------
End of period $ 12,746,711 $ 221,921 $ 45,000,175 $ 356,194 $ 6,679,976 $ 4,633,712
============ ============ ============ ============ ============ ============
<CAPTION>
Vanguard Fiduciary Trust Company
-----------------------------------------------------------------------------------------
Vanguard
Vanguard Vanguard Total
Vanguard Vanguard LifeStrategy Prime Bond Vanguard
LifeStrategy LifeStrategy Moderate Money Market U.S.
Growth Income Growth Market Index Growth
Fund Fund Fund Fund Fund Fund
------------ ------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ 82,314 $ 133,070 $ 565,592 $ 1,494,606 $ 85,845 $ -
Interest income,
participant loans - - - - - -
Net appreciation
(depreciation)
on fair value of
investments 280,601 95,307 1,467,656 - 15,600 23,650
------------ ------------ ------------ ------------ ------------ ------------
Total investment
income (loss) 362,915 228,377 2,033,248 1,494,606 101,445 23,650
------------ ------------ ------------ ------------ ------------ ------------
Contributions-
Employer 163,436 47,221 740,136 1,886,556 33,656 -
Participant 320,777 101,363 1,130,706 2,846,528 69,229 -
Participant loan
repayments 94,544 27,101 425,361 1,159,150 13,778 -
------------ ------------ ------------ ------------ ------------ ------------
Total contributions 578,757 175,685 2,296,203 5,892,234 116,663 -
------------ ------------ ------------ ------------ ------------ ------------
Asset transfers from
the SFPG Plan Merger
(Note 1) 20,447 - 16,020 4,942,825 2,008 4,239,179
Other additions - - 483 9,214 - (1,007)
------------ ------------ ------------ ------------ ------------ ------------
Total additions 962,119 404,062 4,345,954 12,338,879 220,116 4,261,822
------------ ------------ ------------ ------------ ------------ ------------
DEDUCTIONS:
Payment of benefits (312,126) (256,124) (1,495,759) (3,843,823) (94,865) -
Participant loan
withdrawals (91,668) (553) (466,821) (1,453,334) (29,715) -
Other - - - - - -
------------ ------------ ------------ ------------ ------------ ------------
Total deductions (403,794) (256,677) (1,962,580) (5,297,157) (124,580) -
------------ ------------ ------------ ------------ ------------ ------------
Net increase (decrease)
prior to interfund
transfers 558,325 147,385 2,383,374 7,041,722 95,536 4,261,822
Interfund transfers,
net 457,926 597,296 5,187,570 13,859,679 2,472,315 (4,261,822)
Assets transferred from
Merrill Lynch to
Vanguard (Note 1) 1,409,030 1,569,777 5,357,200 8,881,977 - -
------------ ------------ ------------ ------------ ------------ ------------
Net increase (decrease) 2,425,281 2,314,458 12,928,144 29,783,378 2,567,851 -
NET ASSETS AVAILABLE
FOR PLAN BENEFITS:
Beginning of period - - - - - -
------------ ------------ ------------ ------------ ------------ ------------
End of period $ 2,425,281 $ 2,314,458 $ 12,928,144 $ 29,783,378 $ 2,567,851 $ -
============ ============ ============ ============ ============ ============
<CAPTION>
Vanguard Fiduciary Trust Company
------------------------------------------------------------------------------------------
Vanguard Vanguard Newmont
Vanguard Windsor Retirement AIM Newmont Mining
Wellington II Savings Constellation Stock Stock
Fund Fund Trust Fund Fund Fund
------------ ------------ ------------ ------------- ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ - $ - $ 4,858 $ 14 $ 33,135 $ -
Interest income,
participant loans - - - - - -
Net appreciation
(depreciation)
on fair value of
investments 31,741 9,593 - 1,009,742 (2,925,294) (456,967)
------------ ------------ ------------ ------------ ------------ ------------
Total investment
income (loss) 31,741 9,593 4,858 1,009,756 (2,892,159) (456,967)
------------ ------------ ------------ ------------ ------------ ------------
Contributions-
Employer - - - 275,605 505,533 -
Participant - - - 530,950 817,394 -
Participant loan
repayments - - - 153,270 254,842 173
------------ ------------ ------------ ------------ ------------ ------------
Total contributions - - - 959,825 1,577,769 173
------------ ------------ ------------ ------------ ------------ ------------
Asset transfers from
the SFPG Plan Merger
(Note 1) 5,173,202 6,604,096 14,598,142 - 1,286,505 2,749,905
Other additions 6,636 (6,639) - - - 30
------------ ------------ ------------ ------------ ------------ ------------
Total additions 5,211,579 6,607,050 14,603,000 1,969,581 (27,885) 2,293,141
------------ ------------ ------------ ------------ ------------ ------------
DEDUCTIONS:
Payment of benefits - - - (352,816) (621,119) 343,496
Participant loan
withdrawals (2,499) (2,742) (1,371) (118,370) (256,546) (52,459)
Other - - - - - -
------------ ------------ ------------ ------------ ------------ ------------
Total deductions (2,499) (2,742) (1,371) (471,186) (877,665) 291,037
------------ ------------ ------------ ------------ ------------ ------------
Net increase (decrease)
prior to interfund
transfers 5,209,080 6,604,308 14,601,629 1,498,395 (905,550) 2,584,178
Interfund transfers,
net (5,209,080) (6,604,308) (14,601,629) (12,600,422) 5,130,479 (2,584,178)
Assets transferred from
Merrill Lynch to
Vanguard (Note 1) - - - 11,102,027 2,930,020 -
------------ ------------ ------------ ------------ ------------ ------------
Net increase (decrease) - - - - 7,154,949 -
NET ASSETS AVAILABLE
FOR PLAN BENEFITS:
Beginning of period - - - - - -
------------ ------------ ------------ ------------ ------------ ------------
End of period $ - $ - $ - $ - $ 7,154,949 $ -
============ ============ ============ ============ ============ ============
<CAPTION>
Vanguard Fiduciary Trust Company
---------------------------------
Participant
Loans Total
------------ ------------
<S> <C> <C>
ADDITIONS:
Investment income (loss)-
Interest and dividends $ - $ 3,831,114
Interest income,
participant loans 721,566 721,566
Net appreciation
(depreciation)
on fair value of
investments - 11,407,740
------------ ------------
Total investment
income (loss) 721,566 15,960,420
------------ ------------
Contributions-
Employer - 6,824,393
Participant - 11,410,666
Participant loan
repayments (4,062,168) -
------------ ------------
Total contributions (4,062,168) 18,235,059
------------ ------------
Asset transfers from
the SFPG Plan Merger
(Note 1) 4,228,027 53,938,101
Other additions - 9,846
------------ ------------
Total additions 887,425 88,143,426
------------ ------------
DEDUCTIONS:
Payment of benefits (1,201,858) (13,784,183)
Participant loan
withdrawals 4,631,600 -
Other - (1,190)
------------ ------------
Total deductions 3,429,742 (13,785,373)
------------ ------------
Net increase (decrease)
prior to interfund
transfers 4,317,167 74,358,053
Interfund transfers,
net - -
Assets transferred from
Merrill Lynch to
Vanguard (Note 1) 3,396,516 -
------------ ------------
Net increase (decrease) 7,713,683 74,358,053
NET ASSETS AVAILABLE
FOR PLAN BENEFITS:
Beginning of period - 60,168,380
------------ ------------
End of period $ 7,713,683 $134,526,433
============ ============
</TABLE>
The accompanying notes are an integral part of this statement.
F-6
<PAGE> 8
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
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 (Non-Union)
(the "Plan") (formerly known as Newmont Gold Company 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 July 1, 1973 by Newmont Mining Corporation. The Plan
sponsorship transferred in 1994 to Newmont Gold Company (the "Company"). The
Plan is a 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
Plan trustee, administrator and custodian ("Trustee"). Plan assets were
transferred to the new Trustee and were moved 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, in order to provide for an accurate and orderly transition.
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.
Plan Merger
Effective January 1, 1998, the Santa Fe Pacific Gold Corporation Retirement and
Savings Plan (the "Santa Fe Plan") was merged into the Plan. Assets of
approximately $54 million were transferred to the Plan and participants of the
Santa Fe Plan became eligible to participate in the Plan as of the merger date.
F-7
<PAGE> 9
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").
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
Salaried employees are eligible to participate in the Plan as soon as
practicable following their date of employment. Participants may elect to
contribute to the Plan, on a pre-tax or after-tax basis or combination thereof,
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 by
the Company, not to exceed 6% of their base compensation. Total matching
contributions are limited to $12,000 annually per participant. Hourly
participants also receive a retirement contribution from the Company of 2% of
compensation, as defined. 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 and retirement
contributions.
Vesting
Participants are fully vested in their contributions. Participants are vested in
Company matching contributions as follows:
1) 20% for each year of service completed and fully after four years of
service, for participants whose employment commencement date was on or
before December 31, 1997
2) 100% after five years of service, for hourly participants whose
employment commencement date was on or after January 1, 1998
3) 100% of such contributions as of May 5, 1997 and 100% for all
subsequent contributions, for participants in the Santa Fe Plan on
May 5, 1997.
Forfeited non-vested account balances are applied to future Company matching
contributions. During 1998, such contributions were reduced $561,666 as a result
of these forfeitures. At December 31, 1998 and 1997, forfeited non-vested
accounts totaled $124,693 and $189,902, 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.
F-8
<PAGE> 10
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 and retirement 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. In-service and hardship withdrawals are allowed if certain criteria are
met.
Investments
Participants may 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 in stock 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.
F-9
<PAGE> 11
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.
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.
Participant's 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.
F-10
<PAGE> 12
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.
The cost basis of the Plan's investment funds was $125,001,866 and $54,552,092
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 $ 12,744,491
Vanguard 500 Index Fund 44,996,036
Vanguard LifeStrategy Moderate Growth Fund 12,926,239
Vanguard Prime Money Market Fund 29,779,994
Newmont Stock Fund 7,153,778
Participant Loans 7,713,683
</TABLE>
<TABLE>
<CAPTION>
1997
------------
<S> <C>
PIMCO Low Duration Fund $ 4,259,647
Neuberger & Berman Guardian Trust 9,165,836
Merrill Lynch - MasterWorks S&P 500 Stock Fund 9,110,416
AIM Constellation Fund 11,110,450
Templeton Foreign Fund 4,086,098
Merrill Lynch - U.S. Government Money Market Fund 4,405,826
Merrill Lynch - LifePath 2010 Fund 3,084,222
Merrill Lynch - LifePath 2020 Fund 3,688,380
Participant Loans 3,396,516
Newmont Gold Company Stock Fund 3,072,410
</TABLE>
F-11
<PAGE> 13
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, 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.
Valuation of Investments
The Plan's investment funds are stated at fair value based on quoted market
prices, which were 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
nonforfeitable.
F-12
<PAGE> 14
(4) TAX STATUS
A favorable determination letter date 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 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.
(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 risk
associated with certain investments, it is reasonably possible that changes in
the value 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 (NON-UNION)
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 Description of Investment Basis Value
- ------------------------------------ ----------------------------- ------------- -------------
<S> <C> <C> <C>
AIM Constellation Fund, Class A Registered Investment Company $ 11,892,853 $ 12,744,491
Templeton Developing Markets
Trust - Class I Registered Investment Company 236,198 221,861
*Vanguard 500 Index Fund Registered Investment Company 35,046,553 44,996,036
*Vanguard Extended Market Index
Fund Registered Investment Company 362,787 356,164
*Vanguard International Growth Fund Registered Investment Company 5,899,734 6,679,302
*Vanguard LifeStrategy
Conservative Growth Fund Registered Investment Company 4,327,748 4,633,253
*Vanguard LifeStrategy Growth Fund Registered Investment Company 2,193,500 2,424,847
*Vanguard LifeStrategy Income Fund Registered Investment Company 2,223,045 2,314,260
*Vanguard LifeStrategy Moderate
Growth Fund Registered Investment Company 11,660,249 12,926,239
*Vanguard Prime Money Market
Fund Registered Investment Company 29,779,994 29,779,994
*Vanguard Total Bond Market
Index Fund Registered Investment Company 2,553,598 2,567,496
*Newmont Stock Fund Employer Stock 11,111,924 7,153,778
Participant Loans(a) Interest rates ranging from
7% - 10% 7,713,683 7,713,683
------------- -------------
Totals $ 125,001,866 $ 134,511,404
============= =============
</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 4
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
ITEM 27b -- SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year Amount Overdue
------------------------ ---------------------
Original Unpaid
Amount Estimated Balance of Description Estimated
Identity of Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------- -------- --------- --------- ----------- ------------------------ --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Rodney B. Jensen $ 2,820 $ 415 $ 9 $ 148 Loan issue date 2/20/96 $ 136 $ 12
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
James T. Lynch 2,850 320 70 2,523 Loan issue date 5/8/98 440 80
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
James P. Markey 4,735 214 74 746 Loan issue date 10/10/97 78 18
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
John D. Brady 10,800 290 174 10,549 Loan issue date 12/19/97 1,485 835
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Angel R. Martinez 3,115 81 51 3,115 Loan issue date 12/17/97 414 246
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-15
<PAGE> 17
SCHEDULE II
Page 2 of 4
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
ITEM 27b -- SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year Amount Overdue
------------------------ ---------------------
Original Unpaid
Amount Estimated Balance of Description Estimated
Identity of Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------- -------- --------- --------- ----------- ------------------------ --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
David M. Jones $ 1,300 $ 1,165 $ 95 $ 70 Loan issue date 9/29/97 $ 68 $ 2
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Steve R. Macik 22,000 -- -- 22,000 Loan issue date 3/18/98 2,591 1,567
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Edwin A. Fuchs 3,535 1,053 51 12 Loan issue date 7/22/96 12 --
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Chad B. Comeau 2,810 836 40 9 Loan issue date 7/26/96 9 --
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Guy G. Coffman 7,000 977 603 6,241 Loan issue date 1/9/97 220 96
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-16
<PAGE> 18
SCHEDULE II
Page 3 of 4
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
ITEM 27b -- SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year Amount Overdue
------------------------ ---------------------
Original Unpaid
Amount Estimated Balance of Description Estimated
Identity of Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------- -------- --------- --------- ----------- ------------------------ --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Jeffrey A. Noreen $14,000 $ 800 $ 40 $ 9 Loan issue date 8/7/97 $ 9 $ --
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Sergio Bravo-Sanvisente 5,100 1,236 276 2,472 Loan issue date 12/30/96 447 57
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Chris D. Morgan 2,830 1,790 34 390 Loan issue date 3/8/95 359 31
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Thomas R. Ferrell 7,000 1,446 568 5,967 Loan issue date 3/17/98 525 141
c/o Newmont Gold Company interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Robert W. McCann 2,585 -- -- 2,585 Loan issue date 1/6/98 961 239
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 4
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
ITEM 27b -- SCHEDULE OF LOANS IN DEFAULT
AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Amount Received During
Reporting Year Amount Overdue
------------------------ ---------------------
Original Unpaid
Amount Estimated Balance of Description Estimated
Identity of Obligor of Loan Principal Interest End of Year of Loan Principal Interest
- ------------------- -------- --------- --------- ----------- ------------------------ --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Max E. Johnson $ 7,083 $ 530 $ 117 $ 6,948 Loan issue date 1/6/98 $ 2,685 $ 535
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Glenn R. Whitcomb 2,178 -- -- 2,178 Loan issue date 1/6/98 1,089 207
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Rocky J. Perides 3,035 1,504 95 47 Loan issue date 8/26/96 47 --
c/o Newmont Gold Company Interest Rate 9.25%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Clifton R. Wilkes 11,400 734 456 10,331 Loan issue date 4/24/98 469 245
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Angela R. Finlayson 3,000 262 23 2,761 Loan issue date 2/26/98 2,162 196
c/o Newmont Gold Company Interest Rate 9.5%
1700 Lincoln Street Collateral is
Denver, Colorado 80203 account balance
Paul A. Korpi 41,670 5,027 2,797 36,345 Loan issue date 1/6/98 3,251 1,150
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 III
Page 1 of 2
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
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
transactions.
<TABLE>
<CAPTION>
Number of
Transactions
------------------- Purchase Selling Net
Name of Issuer or Party Involved/Description Purchases Sales Price Price Cost Gain/(Loss)
- --------------------------------------------------- --------- ----- ------------ ----------- ------------ -----------
<S> <C> <C> <C> <C> <C> <C>
*The Vanguard Fiduciary Trust Company
AIM Constellation Fund, Class A 84 -- $ 14,210,438 $ -- $ -- $ --
AIM Constellation Fund, Class A -- 111 -- 2,170,940 2,317,487 (146,547)
Vanguard 500 Index Fund 219 -- 42,490,217 -- -- --
Vanguard 500 Index Fund -- 216 -- 15,235,144 13,705,140 1,530,004
Vanguard International Growth Fund 150 -- 5,889,041 -- -- --
Vanguard International Growth Fund -- 182 -- 2,185,147 2,013,041 172,106
Vanguard LifeStrategy Conservative Growth Fund 119 -- 5,147,608 -- -- --
Vanguard LifeStrategy Conservative Growth Fund -- 59 -- 856,045 821,193 34,852
Vanguard LifeStrategy Growth Fund 153 -- 3,474,617 -- -- --
Vanguard LifeStrategy Growth Fund -- 102 -- 1,350,818 1,303,380 47,438
Vanguard LifeStrategy Income Fund 122 -- 2,572,589 -- -- --
Vanguard LifeStrategy Income Fund -- 26 -- 353,637 349,885 3,752
Vanguard LifeStrategy Moderate Growth Fund 181 -- 14,661,456 -- -- --
Vanguard LifeStrategy Moderate Growth Fund -- 193 -- 3,219,377 3,056,466 162,911
Vanguard Prime Money Market Fund 236 -- 38,732,760 -- -- --
Vanguard Prime Money Market Fund -- 215 -- 13,895,854 13,895,854 --
Vanguard Total Bond Market Index Fund 139 -- 3,089,004 -- -- --
Vanguard Total Bond Market Index Fund -- 52 -- 539,116 537,390 1,726
Vanguard U.S. Growth Fund -- -- -- -- -- --
Vanguard U.S. Growth Fund -- 1 -- 4,261,820 3,311,205 950,615
Vanguard Wellington Fund -- -- -- -- -- --
Vanguard Wellington Fund -- 1 -- 5,211,579 4,459,864 751,715
Vanguard Windsor II Fund -- -- -- -- -- --
Vanguard Windsor II Fund -- 1 -- 6,607,050 5,363,896 1,243,154
Vanguard Retirement Savings Trust 1 -- 4,858 -- -- --
Vanguard Retirement Savings Trust -- 1 -- 14,603,000 14,603,000 --
AIM Constellation Fund 63 -- 12,584,906 -- -- --
AIM Constellation Fund -- 55 -- 13,594,649 12,586,182 1,008,467
</TABLE>
* Represents a party-in-interest (Note 5)
The accompanying notes are an integral part of this schedule.
F-19
<PAGE> 21
SCHEDULE III
Page 2 of 2
NEWMONT RETIREMENT SAVINGS PLAN (NON-UNION)
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
transactions.
<TABLE>
<CAPTION>
Number of
Transactions
--------------------- Purchase Selling Net
Name of Issuer or Party Involved/Description Purchases Sales Price Price Cost Gain/(Loss)
- -------------------------------------------- --------- ----- ------------ ----------- ------------ -----------
<S> <C> <C> <C> <C> <C> <C>
*Newmont Gold Company -
Newmont Stock Fund 212 -- $12,782,694 $ -- $ -- $ --
Newmont Stock Fund -- 193 -- 2,759,426 3,169,082 (409,656)
*Merrill Lynch Trust Company -
AIM Constellation Fund -- -- -- -- -- --
AIM Constellation Fund -- 1 -- 11,102,026 10,360,120 741,906
LifePath 2010 Fund -- -- -- -- -- --
LifePath 2010 Fund -- 1 -- 3,100,552 2,603,872 496,680
Neuberger & Berman Guardian Trust -- -- -- -- -- --
Neuberger & Berman Guardian Trust -- 1 -- 9,351,272 7,897,768 1,453,504
Templeton Foreign Fund -- -- -- -- -- --
Templeton Foreign Fund -- 1 -- 4,102,524 4,081,285 21,239
U.S. Government Money Market Fund -- -- -- -- -- --
U.S. Government Money Market Fund -- 1 -- 4,405,826 4,405,826 --
MasterWorks S&P 500 Stock Fund -- -- -- -- -- --
MasterWorks S&P 500 Stock Fund -- 1 -- 9,172,970 6,982,468 2,190,502
PIMCO Low Duration Fund -- -- -- -- -- --
PIMCO Low Duration Fund -- 1 -- 4,283,601 3,701,315 582,286
</TABLE>
* Represents a party-in-interest (Note 5)
The accompanying notes are an integral part of this schedule.
F-20
<PAGE> 22
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 (NON-UNION)
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> 23
EXHIBIT INDEX
Exhibit No. Exhibit
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23 Consent of Arthur Andersen LLP
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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
