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To: Crimson Ghost who wrote (62000)12/14/2000 3:51:26 PM
From: long-gone  Respond to of 116898
 
Buenaventura, Newmont, B.R.G.M. and Normandy Reach Global Settlement

DENVER, Dec. 14 /PRNewswire/ -- Compania de Minas Buenaventura S.A.A. of
Peru and Newmont Mining Corporation (NYSE: NEM) have settled a long-standing
dispute with the Bureau de Recherches Geologiques et Minieres (BRGM), a French
state-owned geologic and exploration body, and Normandy Mining Ltd. of
Australia over ownership of the Minera Yanacocha gold mine and a separate
Peruvian mining concern, Cedimin.
The settlement was effected today in accordance with the terms of an
agreement which had been announced by the parties on October 20, 2000. In
addition to sums previously received, BRGM and Normandy received today
consideration valued at $80 million (half from Newmont in the form of common
shares and half from Buenaventura in cash.) In return, BRGM and Normandy
acknowledge Newmont's and Buenaventura's title to BRGM's former 24.7 percent
interest in Yanacocha and Buenaventura's title to BRGM's former 65 percent
interest in Cedimin, which originally owned 40 percent of Minas Conga and
other Peruvian assets.
Under the settlement effected today, all pending litigation and
arbitration claims will be dismissed, as will claims by BRGM against the
Republic of Peru. The parties also released each other from any future claims
relating to these disputes.

SOURCE Newmont Mining Corporation


Web site: newmont.com


Company News On-Call: prnewswire.com fax, 800-758-5804, ext. 615675


CONTACT: media, Doug Hock, 303-837-5812, or investors, WendyYang, 303-837-6141, both of Newmont Mining Corporation; or Denisede Garrido of Compania de Minas Buenaventura S.A.A.,011-511-471-8337



To: Crimson Ghost who wrote (62000)12/14/2000 4:13:26 PM
From: Ahda  Respond to of 116898
 
rom: ahhaha Thursday, Dec 14, 2000 3:52 PM ET
Reply # of 426

The only true way to get the dollar to weaken is for the US to pursue policies which induce structural inflation. We were starting towards that in '99 and again in '00, but it's quickly deflating. Wage driven inflation is the only circumstance that will get gold to rise. Don't be fooled by the dollar correction occurring. If it had any consequence, you wouldn't see the T-Bond and Eurodollar yields dropping rapidly. That spells raw deflation and that means downward pressure on gold.