Employment Agreement – Newmont Mining Corp. and Wayne W. Murdy

                          NEWMONT MINING CORPORATION
                              1700 LINCOLN STREET
                               DENVER, COLORADO

RONALD C. CAMBRE                                     TELEPHONE (303) 863-7414
   CHAIRMAN                                          FACSIMILE (303) 837-5928 
CHIEF EXECUTIVE OFFICER


August 1, 1999

Mr. Wayne W. Murdy
President
Newmont Mining Corporation
1700 Lincoln Street
Denver, CO  80203

Dear Wayne:

     This letter is being delivered to you regarding the Demand Promissory Note 
dated as of October 7, 1998 in the principal amount of $50,000 that was issued 
by you to Newmont Mining Corporation (the 'Original Note').

     On behalf of Newmont, and in recognition of your service to Newmont, most 
recently evidenced by your election as President of Newmont, I wish to inform 
you that $25,000 of the principal amount of the Original Note and all accrued 
interest on the entire principal amount of the Original Note to the date hereof 
is hereby forgiven by Newmont.  As a result, the Original Note will be canceled 
and you will execute and deliver to Newmont a new promissory note for the 
remaining principal amount of the Original Note (i.e. $25,000) (the 'New Note').

     We hereby agree that, if you are still employed with Newmont on April 1, 
2000, then in consideration for the services rendered by you to Newmont, Newmont
will forgive the remaining principal and interest due under the New Note and the
New Note will be canceled at such time.

Sincerely,


/s/ Ronald C. Cambre


Acknowledged and Accepted:



/s/ Wayne W. Murdy
----------------------------------
Wayne W. Murdy
President