Normandy Mining
| Company type | Public |
|---|---|
| Industry | Gold mining |
| Predecessor | Northwest Tantalum NL |
| Founded | 1954 |
| Founder | JG Donaldson |
| Defunct | 2002 |
| Fate | Acquired by Newmont |
| Successor | Newmont Australia |
| Headquarters | Australia , Australia |
Area served | Australia, international (less than 10%) |
Key people | Robert Champion de Crespigny (Chairman) |
| Products | Gold, Zinc |
| Parent | Newmont (since 2002) |
Normandy Mining was an Australian company specializing in gold extraction. Throughout much of the late 1900s, it held the distinction of being the largest gold mining operation in Australia.
In February 2002, Newmont completed its acquisition of Normandy.
The majority of Normandy’s gold output originated from its operations in Western Australia, which represented approximately half of the company’s total production in 1998. The Northern Territory and Queensland each contributed close to 15%, while international activities made up less than 10% of overall production.
Corporate names and stock listings
Established by JG Donaldson in 1954 under the name Northwest Tantalum NL, the enterprise underwent several name changes: it became Amad NL in 1966, then Normandy Resources NL in 1985, when it also joined the Australian Securities Exchange. In 1991, it was renamed Normandy Poseidon Limited, and later took on the name Normandy Mining Limited in 1995. Following Newmont’s purchase in 2002, its shares were removed from the exchange.
Additionally, Normandy held listings on both the Toronto Stock Exchange and the Montreal Exchange.
Foundational years
Robert Champion de Crespigny joined as a director on 1 July 1981 and eventually became chairman prior to Newmont’s acquisition. Under his leadership, Amad—a company valued at A$3 million—was transformed into Australia’s largest gold miner, reaching a valuation of A$4.9 billion at the time of Newmont’s takeover, with Crespigny reportedly earning around A$160 million.
The merger with Poseidon NL occurred in 1991, resulting in the formation of Normandy Poseidon Limited.
In October 1996, Normandy expanded further by acquiring Posgold Limited.
Acquisition of Great Central Mines
At the start of 1999, Normandy submitted a bid for Great Central Mines, controlled by Joseph Gutnick, via Yandal Gold—a company in which Normandy owned a 49.9% stake. The Australian Securities & Investments Commission intervened and ordered the offer’s withdrawal on 23 March 1999. Investigations revealed that Gutnick and Crespigny had orchestrated an unlawful takeover arrangement; Gutnick was mandated to repay $28.5 million to investors. The court determined their combined $450 million bid for Great Central Mines (GCM) was illegal and misleading. Both men had pre-existing shareholdings in GCM and together established Yandal Gold; however, only Gutnick gained financially from the transaction.
Despite these legal challenges, Normandy proceeded with acquiring Great Central Mines, thereby adding assets such as the Bronzewing, Jundee, and Wiluna Gold Mine to its holdings.
Acquisition by Newmont
Towards the end of 2001, AngloGold launched a bid offering A$1.43 per share for Normandy, later increasing it by 30 cents. Nonetheless, Newmont outbid AngloGold with an offer of A$1.70 per share. AngloGold withdrew its proposal on 21 January 2002 after failing to secure enough shareholder acceptance. AngloGold’s offer valued Normandy at approximately A$3.2 billion—about 30% higher than its prevailing market price.
In February 2002, Newmont’s subsidiary Delta Acquisition LLC completed the purchase of Normandy, which was subsequently delisted from the ASX on 1 July 2002 and rebranded as Newmont Australia. Simultaneously, Newmont acquired Franco-Nevada, ascending to become the largest gold producer worldwide. Had AngloGold succeeded instead, it would have assumed that top position.
Western Australia
- Big Bell Gold Mine: Normandy maintained ownership until October 1999, when it was divested to New Hampton Goldfield for a cash amount of A$12 million along with A$17 million in equity.
- Boddington Gold Mine: Originally, Normandy held a 33.33% stake; Newmont secured complete control by purchasing Newcrest's 22.22% share in 2006 and acquiring AngloGold Ashanti's interest in early 2009.
- Bronzewing Gold Mine: Obtained through the acquisition of Great Central Mines in June 2000; subsequently sold by Newmont to View Resources for A$9 million in July 2004.
- Golden Grove Mine: Purchased from Australian Consolidated Minerals in November 1991; Newmont sold this mine to Oxiana Limited for A$265 million in June 2005. It represented Normandy's sole zinc-producing operation alongside gold extraction.
- Jubilee Gold Mine: Taken over from Hampton Australia in January 1994; transferred to New Hampton Goldfields Limited in April 1996.
- Jundee Gold Mine: Included in the Great Central Mines acquisition of 2000; remains under Newmont's management.
- Super Pit gold mine: Normandy owned half of Kalgoorlie Consolidated Gold Mines, the operator of the Super Pit; this equity was retained by Newmont. The remaining half belongs to Barrick Mining.
- Wiluna Gold Mine: Acquired as part of the Great Central Mines takeover; divested by Newmont to Agincourt Resources in December 2003 for a combination of shares and A$3.65 million cash.
Production
Annual output statistics:
Gold
| Year | Output | Cost per ounce |
| 1997–98 | 1,737,231 ounces 1 | A$321 |
| 1998–99 | 1,670,674 ounces | A$329 |
| 1999–2000 | 1,972,800 ounces | A$303 |
| 2000–01 | 2,302,038 ounces | A$301 |
| 2001–02 |
- 1 Comprises 1,433,900 ounces attributable to Normandy.
Zinc
| Year | Output |
| 1997–98 | 132,800 tonnes |