Business Context and Reporting Period
Company: Newmont Mining Corporation (Newmont Corp)
Filing Type: Form 8-K (Current Report)
Date of Report: June 27, 2011
Reporting Period: The filing addresses an event occurring on June 27, 2011, at the Emigrant project site involving an independent contractor, High Mark Construction LLC.
Key Financial Metrics
This filing is a Current Report regarding a specific regulatory event and does not contain financial statements. Consequently, the filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The filing reports a regulatory event rather than a financial change. On June 27, 2011, an MSHA inspector issued a verbal "imminent danger order" to High Mark Construction LLC regarding non-compliant brakes and seatbelts on scrapers at the Emigrant project site. The order was issued without a prior inspection. Following an inspection, seatbelts were found compliant, and a prompt adjustment was made to the service brakes of one scraper. The order was subsequently terminated.
Outlook, Risks, and Management Commentary
- Incident Outcome: No accident or injury occurred at the Emigrant project site.
- Financial Impact: Management states that no adverse material impact on the Company resulted from the conditions alleged in the Order.
- Regulatory Context: The disclosure is made pursuant to Section 1503 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which mandates reporting of imminent danger orders.
Key Facts for Investor Verification
- The "imminent danger order" was verbal and issued without a prior inspection.
- The order was terminated after the Company verified seatbelt compliance and adjusted scraper brakes.
- The Company explicitly states there was no adverse material impact on operations or finances.
- No injuries or accidents were reported in connection with this event.