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Newmont Mining FCPA case ends in declination

Jaclyn Jaeger | July 26, 2017

Newmont Mining said in a quarterly filing this week that it will not be facing an enforcement action from the Department of Justice regarding a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.

As Compliance Week previously reported, Newmont Mining said in a securities filing in April 2016 that it was conducting an investigation, with the assistance of outside counsel, relating to certain business activities of the company, its affiliates, and contractors in countries outside the United States.

The gold mining company added that the investigation included a review of compliance with the U.S. Foreign Corrupt Practices Act and other applicable laws and regulations. At the time, Newmont Mining said it worked with the Securities and Exchange Commission and Department of Justice with respect to the investigation.

In March 2016, Newmont Mining entered into a one-year agreement with the SEC tolling the statute of limitations relating to the investigation, and in April 2016, entered into a similar agreement with the Department of Justice. Both of the initial tolling agreements were effective through October 29, 2016. In September 2016, the company agreed to extend its tolling agreement with the Justice Department through April 2017, and agreed to a similar extension with the SEC in October 2016.

In February 2017, the company received a declination letter from the SEC relating to this investigation indicating that the agency does not intend to recommend an enforcement action.

In Newmont Mining’s latest quarterly report, filed with the SEC on July 25, the company said it received a similar letter from the U.S. Department of Justice in June, “acknowledging the company’s cooperation in the investigation and indicating that the Department of Justice had closed its inquiry into the matter.”