Normandy Mining

{{Short description|Former Australian gold mining company}} {{Use dmy dates|date=August 2020}} {{Use Australian English|date=July 2011}} {{Infobox company | name = Normandy Mining | logo = Normandy Mining.gif | logo_size = 150px | former_name = Normandy Poseidon Normandy Resources NL Amad NL Northwest Tantalum NL | type = Public | traded_as = {{ASX|NDY}} | fate = | foundation = 1954 | founder = JG Donaldson | location_city = Adelaide | location_country = Australia | key_people = Robert Champion de Crespigny (Chairman) | area_served = | industry = Resources | products = Gold, Zinc | production = Gold: 2,302,038 ounces (2000–01) | dissolved = 2002 | successor = Newmont | revenue = | operating_income = | net_income = | num_employees = | subsid = | homepage = [https://web.archive.org/web/20010301181743/http://www.normandy.com.au/ www.normandy.com.au]}}

'''Normandy Mining''' was an Australian mining company which predominantly mined gold. Normandy was, during much of the late 20th century, Australia's largest gold miner.<ref>[https://www.nytimes.com/1999/04/27/business/company-news-normandy-mining-gets-americas-stake-in-tvx-gold-deal.html?pagewanted=1 Normandy Mining gets America's stake in TVX Gold deal] ''New York Times'' 27 April 1999</ref>

Normandy was taken over by Newmont in February 2002.<ref name=New>[https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=text&issuerId=4815&announcementId=487931&documentDate=2002-06-06&documentNumber=133401 Unveils new global image to reflect Normandy/Franco Acqs] Newmont 6 June 2002</ref>

The company produced gold mainly from its Western Australian mines, which, in 1998, provided approximately 50% of its production, followed by the Northern Territory and Queensland with approximately 15% each. International gold production contributed for less than 10% of the overall company production.<ref>[https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=header&issuerId=3211&documentNumber=119072&documentDate=1998-07-21 Fourth Quarter Activities Report – Part C] Normandy 21 July 1998</ref>

==Overview== ===Names and listings=== Normandy Mining was founded by JG Donaldson in 1954 as '''Northwest Tantalum NL''', being renamed '''Amad NL''' on 12 August 1966. '''Normandy Resources NL''' on 12 December 1985 and was listed on the Australian Securities Exchange. The company changed its name on 9 May 1991 to '''Normandy Poseidon Limited'''.<ref>[https://web.archive.org/web/20250315211123/https://minsocwa.org.au/wp-content/uploads/2021/05/2002_02.pdf The Wodinga pegmatite field] Mineralogical Society of Western Australia February 2002</ref> The last name change occurred on 20 June 1995, to '''Normandy Mining Limited'''. The stock was delisted in 2002.<ref>[https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=674389&documentDate=2002-06-28&documentNumber=133575 Removal from Official List - Normandy Mining Limited] Australian Securities Exchange 28 June 2002</ref>

The company was also listed on the Toronto Stock Exchange and the Montreal Exchange.<ref>{{cite web |title=Second Quarter Activities Report | date=4 January 2011 |url=http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=673725 |publisher=Australian Securities Exchange |accessdate=2019-12-23 |archiveurl=https://web.archive.org/web/20120612132440/http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=673725 |archivedate=2012-06-12}}</ref>

===Early history=== On 1 July 1981, Robert Champion de Crespigny was appointed a company director, later to serve as the chairman of the company until its take over by Newmont.<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=674272 Initial Director`s Interest Notice x 7] Normandy ASX announcement, published: 8 January 2002, accessed: 11 February 2010</ref> Crespigny transformed the exploration company Amad, valued at A$3 million, to Australia's largest gold miner, valued at A$4.9 billion by Newmont, earning an estimated A$160 million in the process.<ref>[http://www.theage.com.au/news/business/old-miners-never-die/2005/06/22/1119321791129.html Old miners never die] ''The Age'', published: 23 June 2005, accessed: 11 February 2010</ref>

In 1991, Normandy merged with Poseidon NL with the company renamed Normandy Poseidon Limited.<ref>[https://www.afr.com/politics/normandy-poseidon-merger-to-go-ahead-19910408-k4cqn Normandy, Poseidon Merger to go ahead] ''Australian Financial Review'' 8 April 1991</ref>

In October 1996, Normandy took over Posgold Limited.<ref>[http://www.delisted.com.au/Company/6670 POSGOLD LIMITED (PGO)] delisted.com.au, accessed: 11 February 2010</ref>

===Great Central Mines takeover=== In early 1999, Normandy made an offer for Great Central Mines, a company led by Joseph Gutnick,<ref name=Joe >[http://www.abc.net.au/lateline/business/items/200611/s1798732.htm Minerals boom leads to Bronzewing revival] ''ABC News'' 27 November 2006</ref><ref>[http://www.theage.com.au/business/chairman-argus-has-a-little-bet-each-way-20080207-1qv9.html Chairman Argus has a little bet each way] ''The Age'' 8 February 2008</ref> through Yandal Gold, a company it owned a 49.9% interest in.<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=673815 Notice re: Takeover Offer for Great Central Mines] Normandy ASX announcement, published: 11 January 1999, accessed: 11 February 2010</ref> This offer came under investigation from the Australian Securities & Investments Commission, which demanded a termination of the offer on 23 March 1999.<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=673815 Yandal Gold Part A T/O Offer for GCM – ASIC Investigation] Normandy ASX announcement, published: 23 March 1999, accessed: 11 February 2010</ref> Gutnick and Crespigny were found to have illegally structured a takeover of the company and Gutnick was ordered to return $28.5 million to investors. The court found that their behaviour in jointly bidding $450 million earlier that year for Great Central Mines (GCM) was unlawful and deceptive. Both Gutnick and Crespigny had shareholdings in GCM before this bid was launched, and they agreed together to form the Yandal Gold company. The court found however, that it was only Gutnick who received any benefit and it was therefore him who had to pay the $28.5 million.<ref>[http://www.abc.net.au/7.30/stories/s29555.htm Miners found to have illegally restructured company] ''7:30'' 16 June 1999</ref>

The deal nevertheless went ahead and brought the Bronzewing, Jundee and Wiluna Gold Mine's to the company.

===Newmont takeover=== In late 2001, AngloGold made an offer for Normandy, valued at A$1.43 per Normandy share. It subsequently increased this offer by 30 cents per share, but was outbid by Newmont, which offered A$1.70 per share. AngloGold closed its offer on 21 January 2002, not having found sufficient acceptance to warrant an extension.<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=674312 Anglogold closes its offer for Normandy] Normandy ASX announcement, published: 21 January 2002, accessed: 11 February 2010</ref> AngloGold's offer was valued at A$3.2 billion, 30% above Normandy's share price at the time.<ref>[http://www.abc.net.au/worldtoday/stories/s358929.htm Normandy Mining takeover] ''The World Today'' 5 September 2001</ref>

Normandy was then taken over by Delta Acquisition LLC, a subsidiary of Newmont in February 2002. The company was delisted from the ASX on 1 July 2002,<ref name=take >[http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp View Project Owners: Jundee – Nimary] {{Webarchive|url=https://web.archive.org/web/20080911130252/http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp |date=11 September 2008 }} accessed: 19 December 2009</ref><ref>[http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=NDY&timeframe=Y&year=1998 Search results: Company announcements for NORMANDY MINING LIMITED (NDY)] ASX website, accessed: 11 February 2010</ref> and became Newmont Australia instead. Newmont had also, at the same time, taken over Franco-Nevada, making the company the world's largest gold producer.<ref name="New"/> Had AngloGold succeeded in its bid, they would have become the world's largest producer instead.<ref>[http://www.financialexpress.com/news/australian-authorities-okay-newmont-mining-bid-for-normandy-mining/34921/0 Australian authorities okay Newmont Mining bid for Normandy Mining] ''The Financial Express'', published: 15 January 2002, accessed: 14 February 2010</ref><ref>[https://www.independent.co.uk/news/business/analysis-and-features/anglogold-battles-for-pole-position-in-global-gold-mining-618343.html AngloGold battles for pole position in global gold mining]{{dead link|date=August 2021|bot=medic}}{{cbignore|bot=medic}} ''The Independent'', published: 28 November 2001, accessed: 14 February 2010</ref>

==Operations== ===Western Australia=== * '''Big Bell Gold Mine''': The mine was owned by Normandy until October 1999, when New Hampton Goldfield acquired it for A$12 million in cash and A$17 million in shares.<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3345&announcementId=673940 NDY`s ann: Sale of Big Bell] Normandy Mining ASX announcement, published: 8 October 1999, accessed: 6 February 2010</ref> * '''Boddington Gold Mine''': 33.33% owned by Normandy, Boddington is now fully owned by Newmont, having bought out Newcrest's 22.22% in 2006<ref>{{cite news |url= http://www.smh.com.au/news/business/newmont-takes-rest-of-boddington/2006/02/13/1139679534969.html| title =Newmont takes rest of Boddington| author = Barry Fitzgerald | newspaper =Sydney Morning Herald| date =14 February 2006}}</ref> and the remainder from AngloGold Ashanti in early 2009. * '''Bronzewing Gold Mine''': Bronzewing was acquired in June 2000 when Normandy took over Great Central Mines, the mine stayed with the company until the Newmont takeover. In July 2004, View Resources purchased the mine from Newmont for A$9.0 million.<ref name=Bronze >{{cite web |url=http://www.viewresources.com.au/bronzewing.php |title=Bronzewing |year=2006 |publisher=View Resources Limited website |archiveurl=https://web.archive.org/web/20091118153703/http://www.viewresources.com.au/bronzewing.php |archivedate=18 November 2009 |accessdate=2009-12-15 |url-status=dead }}</ref> * '''Golden Grove Mine''': Golden Grove was acquired in November 1991 from Australian Consolidated Minerals and stayed with Newmont until its sale to Oxiana Limited in June 2005 for A$265 million.<ref name=Acquire >[http://www.asx.com.au/asxpdf/20050624/pdf/3r9s7nrqpn2x1.pdf To Acquire Golden Grove Mine from Newmont] Oxiana ASX announcement, published: 24 June 2005, accessed: 11 January 2010</ref> Golden Grove was Normandy's only zinc mine, but also produced gold. * '''Jubilee Gold Mine''': Jubilee was acquired from Hampton Australia in January 1994. In April 1996, it was acquired by New Hampton Goldfields Limited.<ref>[http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp MINEDEX website – Junilee search result] {{Webarchive|url=https://web.archive.org/web/20080911130252/http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp |date=11 September 2008 }} accessed: 7 February 2010</ref> * '''Jundee Gold Mine''': Jundee was part of the GMC deal in 2000 and continues to be operated by Newmont.<ref name=Oppo >[http://www.newmont.com/join-our-team/global/asia-pacific-opportunities/careers-australia-new-zealand-0 Jundee, Western Australia] {{Webarchive|url=https://web.archive.org/web/20091220082717/http://www.newmont.com/join-our-team/global/asia-pacific-opportunities/careers-australia-new-zealand-0 |date=20 December 2009 }} Newmont website, accessed: 20 December 2009</ref> * '''Super Pit gold mine''': Normandy held 50% of the Kalgoorlie Consolidated Gold Mines, operator of the Super Pit gold mine, a stake Newmont has retained. The other 50% is held by Barrick Mining.<ref>[http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp MINEDEX website] {{Webarchive|url=https://web.archive.org/web/20080911130252/http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp |date=11 September 2008 }} Golden Mile / KCGM search result, accessed: 26 January 2010</ref> * '''Wiluna Gold Mine''': Like Jundee and Bronzewing, Normandy acquired Wiluna in the GMC take over and brought it to Newmont. Agincourt Resources purchased the mine on 10 December 2003 from Newmont for shares and $3.65 million in cash.<ref name=delisted >[http://www.delisted.com.au/Company/178 Delisted.com.au: Agincourt Resources] accessed: 26 December 2009</ref>

==Production== Annual production figures of the company:

===Gold=== {| class="wikitable" |- align="center" bgcolor="#DAA520" | '''Year''' | '''Production''' | '''Cost per ounce''' |- align="center" | 1997–98<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=673764 Fourth Quarter Activities Report – Part A] Normandy ASX announcement, published: 21 July 1998, accessed: 11 February 2010</ref> | 1,737,231 ounces 1 | A$321 |- align="center" | 1998–99<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=673914 Fourth Quarter Activities Report – Part D] Normandy ASX announcement, published: 19 July 1999, accessed: 11 February 2010. {{Webarchive|url=https://web.archive.org/web/20120612132546/http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=673914|date=June 12, 2012}}</ref> | 1,670,674 ounces | A$329 |- align="center" | 1999–2000<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=674006 Fourth Quarter Activities Report – Part D] Normandy ASX announcement, published: 19 July 2000, accessed: 11 February 2010. {{Webarchive|url=https://web.archive.org/web/20120612132608/http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=674006|date=June 12, 2012}}</ref> | 1,972,800 ounces | A$303 |- align="center" | 2000–01<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=674100 Fourth Quarter Activities Report – Part D] Normandy ASX announcement, published: 26 July 2001, accessed: 11 February 2010. {{Webarchive|url=https://web.archive.org/web/20120612132604/http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=674100|date=June 12, 2012}}</ref> | 2,302,038 ounces | A$301 |- align="center" | 2001–02 | | |} * 1 Of which 1,433,900 ounces were attributable to Normandy.

===Zinc=== {| class="wikitable" |- align="center" bgcolor="#DAA520" | '''Year''' | '''Production''' |- align="center" | 1997–98<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3211&announcementId=673768 Fourth Quarter Activities Report – Part B] Normandy ASX announcement, published: 21 July 1998, accessed: 11 February 2010</ref> | 132,800 tonnes |- align="center" | | |- align="center" | | |}

==References== {{reflist}}

==External links== * [https://web.archive.org/web/20080911130252/http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp MINEDEX website] {{Gold mining companies of Australia}}

Category:Companies based in Adelaide Category:Companies formerly listed on the Australian Securities Exchange Category:Companies formerly listed on the Toronto Stock Exchange Category:Defunct mining companies of Australia Category:Gold mining companies of Australia Category:Non-renewable resource companies established in 1954 Category:Non-renewable resource companies disestablished in 2002 Category:Newmont Category:1954 establishments in Australia Category:2002 disestablishments in Australia