Document:

Newmont Deed Poll of Release

 Exhibit 10(cc) 
  
 THIS DEED POLL is made on 29 November 2004. 
  
 BY: 
  
 Each of Newmont, NMS and the Newmont Guarantors 
  
 IN FAVOUR OF: 
  
 The QMAG Entities and AMC 
  
 RECITALS: 
  

	A.	AMC, QMCK and QMCR are participants in an unincorporated joint venture known as the QMAG Joint Venture. 

  

	B.	It is proposed that the 50% interest of Australian Magnesium Corporation Limited in the QMAG Joint Venture and all the shares in QMC (Kunwarara) Pty Ltd and QMC Refmag Pty Ltd be
sold in accordance with the Acquisition Document. 

  

	C.	This deed poll is to be delivered at settlement under the Acquisition Document. 

  
 IT IS AGREED: 
  

	1.	INTERPRETATION 

  

	1.1	Definitions 

  
 In this deed poll, unless the context otherwise requires: 
  
 Acquisition Document means the sale agreement dated on or about the date of this deed poll made between AMC, AMO, QMCI, ACN 111 279 906 Ltd, QMCH
Pty Ltd, QMCK, QMCR, QMPL, RCF and RCFM; 
  
 AMC means
Australian Magnesium Corporation Limited (ACN 010 441 666); 
  
 AMC Debt means: 
  

	 	(a)	the AUD5,000,000 loan provided by Newmont to AMC in accordance with the Deed Poll; and 

  

	 	(b)	all amounts owing (actually or contingently) under, or in connection with, the Fee Letter; 

  
 AMC Guarantors means each of the entities specified in Item 1 of the Schedule; 
  
 AMO means Australian Magnesium Operations Pty Ltd (ACN 058 918 175);

 Claim means any action, proceeding, account, right, claim, demand, costs and expenses (including
legal expenses) wherever and however arising, whether under statute or otherwise, whether present or future, actual or contingent, secured or unsecured, liquidated or unliquidated, due or which may become due and whether known or unknown;

  
 Deed Poll means the deed poll dated 9 December 2003
given by AMC in favour of Newmont under clauses 4.5(b), (c) and (e) of the Heads of Agreement; 
  
 Disputed Debt means the amount of AUD247,468.08 alleged by NMS to be owing to it by AMC and AMO in connection with the employment or secondment by
AMO of David Grander, and the provision by NMS of certain services to AMC; 
  
 Facility Agreement means the facility agreement dated 28 November 2001 made between QFPL, ANZ, the AMC Guarantors and certain of the Newmont Guarantors as amended by an amending deed dated 2 December 2003 made
between QFPL, ANZ and the Guarantors; 
  
 Fee Letter means
the letter dated 22 November 2001 from AMC to Newmont pursuant to which AMC agreed to pay a fee in consideration of the Newmont Guarantors guaranteeing the obligations of QFPL to ANZ under the Facility Agreement; 
  
 Finance means Newmont Finance Limited (ACN 062 291 285); 

 
 Guarantors means the AMC Guarantors and the Newmont Guarantors;

  
 Heads of Agreement means heads of agreement dated 13
June 2003 between AMC, AMO, Newmont, the State of Queensland, the Commonwealth of Australia and Leighton Contractors Pty Ltd; 
  
 Newmont means Newmont Australia Limited (ACN 009 295 765); 
  
 Newmont Guarantors means each of the entities specified in Item 2 of the Schedule; 
  
 NMS means Newmont Mining Services Pty Ltd (ACN 008 087 778);

  
 QFPL means QMC Finance Pty Ltd (ACN 010 985 761);

  
 QMAG Entities means each of QMCI, QMCK, QMPL, QMCR and
QFPL; 
  
 QMCI means QMC Investments Pty Ltd (ACN 057 869
299); 
  
 QMCK means QMC (Kunwarara) Pty Ltd (ACN 009 643
216); 
  
 QMCR means QMC Refmag Pty Ltd (ACN 003 858 099);

  
 QMPL means Queensland Magensia Pty Ltd (ACN 010 823
588); 
  
 RCF means Resource Capital Fund III L.P.;

  
 RCFM means RCF Management L.L.C.; and 

 Releasees means AMC and the QMAG Entities and any party that is or has been a ‘related
entity’ (as that term is defined in the Corporations Act, 2001 (Cwlth)) of those parties, and each of their respective officers, employees and agents, at any time. 
  

	1.2	General 

  
 In this deed poll, unless the context otherwise requires: 
  

	 	(a)	a reference to any legislation or legislative provision is a reference to that legislation as at the date of this deed and includes any statutory modification or re-enactment of, or
legislative provision substituted for, and any subordinate legislation issued under, that legislation or legislative provision; 

  

	 	(b)	the singular includes the plural and vice versa; 

  

	 	(c)	a reference to an individual or person includes a corporation, partnership, joint venture, association, authority, trust, state or government and vice versa;

  

	 	(d)	a reference to any gender includes all genders; 

  

	 	(e)	a reference to a recital, clause, schedule, annexure or exhibit is to a recital, clause, schedule, annexure, or exhibit of, or to, this deed; 

  

	 	(f)	a recital, schedule, annexure or a description of the parties forms part of this deed; 

  

	 	(g)	a reference to any deed or document is to that deed or document (and, where applicable, any of its provisions) as amended, novated, supplemented or replaced from time to time;

  

	 	(h)	a reference to any party to this deed, or any other document or arrangement, includes that party’s executors, administrators, substitutes, successors and permitted assigns;

  

	 	(i)	where an expression is defined, another part of speech or grammatical form of that expression has a corresponding meaning; 

  

	 	(j)	where an expression is defined anywhere in this deed, it has the same meaning throughout; 

  

	 	(k)	a reference to any instrument (such as an agreement, deed or document) is to that instrument (or, if required by the context, to a part of it) as amended, novated, substituted or
supplemented at any time and from time to time; 

  

	 	(l)	a reference to AUD is a reference to the lawful currency of Australia; 

  

	 	(m)	including and similar expressions are not and must not be treated as words of limitation; and 

  

	 	(n)	headings are for convenience only and do not affect interpretation. 

	1.3	Joint and Several 

  
 A term in this deed poll that purports to bind or benefit more than one party binds or benefits those parties jointly and severally. 
  

	1.4	Construction of releases 

  
 For the avoidance of doubt, general words governing the scope of any release from Claims effected by this deed poll shall not be construed as being
limited in any way by reference to any particular known Claims. 
  

	1.5	Exclusion of Contra Proferentem Rule 

  
 No provision of this deed poll will be construed against the party solely because that party was responsible for the preparation and drafting of this deed
poll. 
  

	2.	RELEASE 

  

	2.1	Releases by Newmont 

  
 Newmont unconditionally releases and forever discharges AMC from each of its obligations under the Deed Poll and the Fee Letter including the obligation
to repay the AMC Debt. 
  

	2.2	Releases by Newmont Guarantors 

  

	 	(a)	Each of the Newmont Guarantors unconditionally releases and forever discharges each of the QMAG Entities from all Claims arising out of any dealing between any of them of any nature
whatsoever prior to the date of this deed. 

  

	 	(b)	Each of the Newmont Guarantors unconditionally releases and forever discharges AMC from all Claims arising from AMC’s participation in the QMAG Joint Venture but, for the
avoidance of doubt, not arising in any other manner. In this clause 2.2, QMAG Joint Venture means the unincorporated joint venture in which AMC, QMCK and QMCR are the participants, established under the Queensland Magnesia Joint Venture
Agreement 21 August 1990 between QMCK, Pancontinental Mining Limited, AMC, Radex-Heraklith Industriebeteiligungs AG, QMCR and QMPL, and continued under the Restated Queensland Magnesia Joint Venture Agreement 28 November 2001 between AMC, QMCK, QMCR
and QMPL. 

  

	 	(c)	The release given in clauses 2.2(a) applies whether or not such Claims are presently known or unknown to any of the Newmont Guarantors or the QMAG Entities.

  

	 	(d)	The release given in clause 2.2(b) applies whether or not such claims are presently known or unknown to any of the Newmont Guarantors or AMC. 

	 	(e)	(c) The releases given in clauses 2.2(a) and 2.2(b) apply to any Claims which any of the Newmont Entities could, or might but for this deed, have or have had against the QMAG
Entities or AMC, as the case may be. 

  

	2.3	Disputed Debt 

  
 NMS unconditionally releases AMC and AMO from any obligation to pay the Disputed Debt and unconditionally releases and forever discharges AMC and AMO from
all Claims it may have against AMC and AMO relating to the employment or secondment by AMO of David Grander, and the provision by NMS of certain services to AMC. 
  

	3.	COVENANT NOT TO SUE 

  

	 	3.1	Newmont and the Newmont Guarantors must not make any Claim against the Releasees arising directly or indirectly out of or relating to any matter from which they have released the
Releasees pursuant to clause 2. 

  

	 	3.2	Newmont and the Newmont Guarantors acknowledge that the Releasees may plead this deed in bar to any Claim referred to in clause 3.1. 

  

	4.	REPRESENTATIONS AND WARRANTIES 

  

	4.1	Capacity 

  
 Each of Newmont, the Newmont Guarantors and NMS warrants to each of the Releasees as follows: 
  

	 	(a)	it has the legal right, capacity and full power and authority and all necessary authorisations to perform its obligations under this deed poll, to deliver and perform this deed poll
and each transaction contemplated by this deed poll or any document contemplated by this deed poll; and 

  

	 	(b)	the execution, delivery and performance by it of this deed poll and each transaction contemplated by this deed poll, or any document contemplated by this deed poll, will not (with
or without the lapse of time, the giving of notice or both) breach, contravene or conflict with: 

  

	 	(i)	any law or any authorisation that it requires or has obtained in relation to any such matter; 

  

	 	(ii)	its constitution or constituent documents; 

  

	 	(iii)	any security arrangement, deed, contract, undertaking or other instrument or any encumbrance to which it is a party or which is binding on it, and does not and will not result in
the creation or imposition of any security over any of its assets thereunder; or 

  

	 	(iv)	any obligation, including any statutory, contractual or fiduciary obligation, binding on it. 

	4.2	Solvency 

  
 Each of Newmont, the Newmont Guarantors and NMS represents and warrants to each of the Releasees as follows: 
  

	 	(a)	it is not in liquidation and no order, petition, application, proceeding, meeting or resolution has been made, sought, effected or threatened for the purpose of winding it up;

  

	 	(b)	no controllers (as defined in or for the purposes of the Corporations Act) have possession or control of any of its assets or undertaking for the purpose of enforcing a charge;

  

	 	(c)	no chargee or other person is entitled to be in, or has threatened to take possession or control of any of its assets or undertaking for the purpose of enforcing a charge;

  

	 	(d)	no administrator (as defined in or for the purposes of the Corporations Act) has been appointed to it and no such appointment has been threatened against it;

  

	 	(e)	it has not stopped payment to creditors generally, and it is not insolvent (within the meaning of the Corporations Act); and 

  

	 	(f)	no execution, distress or similar process has been levied upon or against all or any part of its business, assets or revenues and nothing of that nature has been threatened against
it. 

  

	5.	NO ASSISTANCE 

  
 Each of Newmont, NMS and the Newmont Guarantors must not, except as required by law, aid, assist or procure any person to make any Claim against any of
the Releasees arising directly or indirectly out of or relating to any matter from which Newmont, NMS or the Newmont Guarantors have released the Releasees from Claims pursuant to clause 2. 
  

	6.	ENTIRE AGREEMENT 

  
 This deed poll contains the entire agreement between the parties relating to the subject matter of this deed poll and supersedes all prior representations
or proposals by a party to the other parties, and all prior agreements between the parties, in connection with that subject matter. 
  

	7.	GOVERNING LAW 

  
 This deed poll is governed by the law in force in Queensland, Australia. 
  
 EXECUTED as a deed poll. 

					
	 EXECUTED by NEWMONT USA LIMITED by its attorney
 under power of attorney dated 11 November 2004 (who by his
 execution hereof states that he has not received notice of
the
 revocation of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 EXECUTED by BATTLE MOUNTAIN GOLD COMPANY by its
 attorney under power of attorney dated 11 November 2004 (who by his
 execution hereof states that he has not received notice
of the revocation
 of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 EXECUTED by NEWMONT MINING CORPORATION by its
 attorney under power of attorney dated 11 November 2004 (who by his
 execution hereof states that he has not received notice
of the revocation
 of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT

					
	 EXECUTED by NEWMONT CAPITAL LIMITED by its attorney
 under power of attorney dated 11 November 2004 (who by his
 execution hereof states that he has not received notice of the
revocation
 of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 EXECUTED by KALGOORLIE LAKE VIEW by its attorney under
 power of attorney dated 17 November 2004 (who by his execution
 hereof states that he has not received notice of the
revocation of that
 power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 EXECUTED by NEWMONT AUSTRALIA HOLDINGS PTY LTD
 by its attorney under power of attorney dated 17 November 2004 (who
 by his execution hereof states that he has not received
notice of the
 revocation of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT

					
	 EXECUTED by NEWMONT AUSTRALIA LIMITED by its
 attorney under power of attorney dated 17 November 2004 (who by his
 execution hereof states that he has not received notice
of the revocation
 of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 EXECUTED by NEWMONT BODDINGTON PTY LTD by its
 attorney under power of attorney dated 17 November 2004 (who by his
 execution hereof states that he has not received notice
of the revocation
 of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	EXECUTED by NEWMONT FINANCE LIMITED by its attorney under power of attorney dated 17 November 2004 (who by his execution hereof states that he has not received notice
of the revocation of that power of attorney) in the presence of:	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT

					
	 EXECUTED by NEWMONT GOLD TREASURY PTY LTD by its
 attorney under power of attorney dated 17 November 2004 (who by his
 execution hereof states that he has not received notice
of the revocation
 of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 EXECUTED by NEWMONT GOLDEN GROVE OPERATIONS 
 PTY LTD by its attorney under power of attorney dated 17 November
 2004 (who by his execution hereof states that he
has not received notice
 of the revocation of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 EXECUTED by NEWMONT MINING FINANCE PTY LTD by its
 attorney under power of attorney dated 17 November 2004 (who by his
 execution hereof states that he has not received notice
of the revocation
 of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT

					
	 EXECUTED by NEWMONT MINING HOLDINGS PTY LTD by
 its attorney under power of attorney dated 17 November 2004 (who by
 his execution hereof states that he has not received
notice of the
 revocation of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 EXECUTED by NEWMONT NGL HOLDINGS PTY LTD by its
 attorney under power of attorney dated 17 November 2004 (who by his
 execution hereof states that he has not received notice
of the revocation
 of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 EXECUTED by NEWMONT GOLD PTY LTD by its attorney under
 power of attorney dated 17 November 2004 (who by his execution
 hereof states that he has not received notice of the
revocation of that
 power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT

					
	 EXECUTED by NEWMONT PAJINGO PTY LTD by its attorney
 under power of attorney dated 17 November 2004 (who by his
 execution hereof states that he has not received notice of the
revocation
 of that power of attorney) in the presence of:
	  	 
			
	Witness	 	 /s/ M. Corston

	  	 /s/ Martin S. Janes

	Signature	 	 	  	Signature
		
	 Margaret Corston

	  	 Martin S. Janes

	Name	 	                        PLEASE
PRINT	  	Name                        PLEASE
PRINT
		
	 THE COMMON SEAL of
 NEWMONT MINING
SERVICES PTY LTD
 was hereunto affixed in accordance
 with its Constitution in the presence of:
	  	 
		
	 /s/ Martin S. Janes

	  	 
	Director	  	 
		
	 /s/ David Godfrey

	  	 
	Secretary	  	 

 Exhibit          
  
 SCHEDULE 
  

			
	 Item 1
 (AMC Guarantors)
	  	  
 Australian Magnesium Corporation Limited (ABN 51 010 441
666)
 Q.M.C. Refmag Pty Ltd (ABN 57 003 858 099)
 Q.M.C.
(Kunwarara) Pty Ltd (ABN 94 009 643 216)
 Queensland Magnesia Pty Ltd (ABN 43 010 823 588)
 Q.M.C. Investments Pty Ltd (ABN 39 057 869 299)

		
	 Item 2
 (Newmont Guarantors)
	  	  
 Battle Mountain Gold Company
 Kalgoorlie Lake View Pty Ltd (ABN 22 004 990 274)
 Newmont Australia Holdings
Pty Ltd (ABN 95 099 040 507)
 Newmont Australia Limited (ABN 86 009 295 765)
 Newmont Boddington Pty Ltd (ABN 32 062 936 547)
 Newmont Capital Limited
 Newmont Finance Limited (ABN 20 062 291 285)
 Newmont Gold Treasury Pty Ltd
(ABN 82 008 639 647)
 Newmont Golden Grove Operations Pty Ltd (ABN 66 008 950 178)
 Newmont Mining Corporation
 Newmont Mining Finance Pty Ltd (ABN 44 058 419 604)
 Newmont Mining Holdings Pty Ltd (ABN 17 007 544 112)
 Newmont NGL Holdings Pty
Ltd (ABN 82 009 639 187)
 Newmont Operations Pty Ltd (ABN 13 008 671 252)
 Newmont Pajingo Pty Ltd (ABN 60 009 112 065)
 Newmont USA LimitedDeed of Indemnity

 Exhibit 10(dd) 
  
 

 
  
 Deed of indemnity 
  
 Newmont Australia Limited ACN 009 295 765 
 Newmont 
  
 Resource Capital Fund III L.P. 
 RCF 
  
 ACN 111
279 906 Ltd ABN 68 111 279 906 
 QMAG 
  
 QMCH Pty Ltd ABN 27 111 293 433 
 QMCH 
  
 If you have any questions about the details of this document 
 please contact Peter Wilkes on + 61 2 9353 4000 
  
 Clayton Utz Lawyers 
 QV1 250 St Georges Terrace Perth WA 6000 Australia 
 GPO Box P1214 Perth WA 6844 
 T + 61 8 9426 8000 F + 61 8 9481 3095 
  
 www.claytonutz.com 
  
 Our reference 60022/13675/80013608 

 Table of contents 
  

					
	 1.
	  	Interpretation	  	1
			
	 	  	 1.1    Definitions
	  	1
	 	  	 1.2    Interpretation
	  	2
			
	 2.
	  	Indemnity of RCF Group Members	  	3
			
	 	  	 2.1    Indemnity
	  	3
	 	  	 2.2    Discharge of liability
	  	3
	 	  	 2.3    Continuing Indemnity
	  	3
			
	 3.
	  	Limits of indemnity	  	3
			
	 	  	 3.1    AMC Indemnity
	  	3
	 	  	 3.2    Negligent and fraudulent acts
	  	3
			
	 4.
	  	Payments	  	4
			
	 	  	 4.1    Notice
	  	4
	 	  	 4.2    Method of payment
	  	4
	 	  	 4.3    No set off
	  	4
	 	  	 4.4    Subrogation
	  	4
			
	 5.
	  	Notices	  	4
			
	 	  	 5.1    Notices
	  	4
	 	  	 5.2    Delivery
	  	4
			
	 6.
	  	Execution in Several parts	  	5
			
	 7.
	  	Governing law and jurisdiction	  	5

  

 2 

 Deed of indemnity made at Brisbane on 29 November 2004 
  

	Parties	Newmont Australia Limited ACN 009 295 765 of 100 Hutt Street, Adelaide, South Australia (“Newmont”) 

  

	and	ACN 111 279 906 Ltd ABN 68 111 279 906 (to be renamed QMAG Ltd) of Ground Floor, 76 Kings Park Road, West Perth, Western Australia (“QMAG”)

  
 QMCH Pty Ltd ABN 27 111 293 433 of
Ground Floor, 76 Kings Park Road, West Perth, Western Australia (“QMCH”) 
  
 Resource Capital Fund III L.P. of 1400 Sixteenth Street, Suite 200, Denver, CO 80202, USA (“RCF”) 
  
 (QMAG, QMCH, and RCF are each referred to individually as a “RCF Group Member” and are collectively referred to as the “RCF Group
Members”) 
  
 Recitals 
  

	A.	Newmont has agreed to indemnify the RCF Group Members against any liability which the RCF Group Members may incur in respect of any loss suffered in connection with claims made now
or in the future by investors or any other persons in any way relating to the AMC shares and/or loan notes issued by AMC under a prospectus dated 15 October 2001 or the disclosures in that prospectus, on the terms and conditions set out in this
deed. 

  
 Operative provisions 
  

	1.	Interpretation 

  

	1.1	Definitions 

  
 In this deed unless the context requires otherwise: 
  
 “AMC” means Australian Magnesium Corporation Limited ABN 51 010 441 666 of Level 5, 30 Little Cribb Street, Milton, Queensland.

  
 “AMC Indemnity” means the indemnity granted
by AMC in favour of the RCF Group Members pursuant to clause 18.1 of the Sale Agreement - QMAG Joint Venture and Associated Assets between AMC, Australian Magnesium Operations Pty Ltd ABN 38 058 918 175, QMC Investments Pty Ltd ABN 39 057 869 299,
Q.M.C. Finance Pty Ltd ABN 79 010 985 761, QMC (Kunwarara) Pty Ltd ABN 94 009 643 216, QMC Refmag Pty Ltd ABN 57 003 858 099, Queensland Magnesia Pty Ltd ABN 43 010 823 588 and the RCF Group Members dated on or about the date of this deed.

  
 “AMC Prospectus” means the prospectus issued
by AMC dated 15 October 2001. 
  
 “AMC
Securities” means the AMC shares and/or loan notes issued by AMC under the AMC Prospectus. 
  
 “Event of Insolvency” means, in relation to any person (which includes a company and/or corporation): 
  

	 	(a)	a receiver, manager, receiver and manager, trustee, administrator, controller or similar officer is appointed in respect of that person or any asset of that person;

  

	 	(b)	a liquidator or provisional liquidator is appointed in respect of that person; 

  

	 	(c)	any application (not being an application withdrawn or dismissed within 7 days) is made to a court for an order, or an order is made, or a meeting is convened, or a resolution is
passed, for the purpose of: 

  

	 	(i)	appointing such receiver, manager, receiver and manager, trustee, administrator, controller or similar officer or liquidator or provisional liquidator referred to in paragraphs (a)
or (b); 

  

	 	(ii)	winding up that person; or 

  

 1 

	 	(iii)	proposing or implementing a scheme of arrangement in respect of the person and its creditors (other than the holders of options to subscribe for shares); 

 

	 	(d)	that person has any material, final and unappealable judgment or award made against it and fails to satisfy such judgment or award within 14 days of the date on which it became
aware of such judgment or award; or 

  

	 	(e)	that person becomes, or admits in writing that it is, is declared to be, or is deemed under any applicable law to be, insolvent or unable to pay its debts. 

 
 “Losses” means all losses including loss of profits and
consequential losses, claims, damages, liabilities, expenses, penalties, stamp and transaction duties, costs and disbursements, including losses incurred in connection with investigating, preparing, defending or otherwise dealing with any
proceedings (“legal costs”), whether or not in connection with pending or threatened litigation to which a RCF Group Member is a party and including legal fees and disbursements on an indemnity basis, except for legal costs incurred in
connection with proceedings to enforce rights or obligations under this deed in which costs are awarded against RCF. 
  

	1.2	Interpretation 

  

	 	(a)	words importing the singular or plural include the plural and singular respectively; 

  

	 	(b)	words denoting persons include individuals, bodies and corporations, associations, partnerships, firms, joint ventures, trusts, government bodies and authorities;

  

	 	(c)	clause headings do not affect the interpretation of the deed; 

  

	 	(d)	where a word or phrase is given a particular meaning in this deed, other cognate parts of speech and grammatical forms of that word or phrase have a corresponding meaning;

  

	 	(e)	every covenant, agreement or undertaking expressed or implied by which more than one person is bound binds those persons and any two or greater number of them jointly and each of
them severally; 

  

	 	(f)	“includes” in any form is not a word of limitation; 

  

	 	(g)	a reference to the companies includes a reference to each and all of them; 

  

	 	(h)	references to a party include the party’s legal personal representatives, successors and assigns; and 

  

	 	(i)	“tax” includes any tax, levy, charge, impost, fee, deduction, stamp duty, financial institution duty, bank account debit tax or other tax or withholding of any nature at
any time payable, imposed, levied, collected, withheld or assessed by any federal, state or local government body or public authority and, without limitation, includes any related interest, expense, fine, penalty or other charge.

  

 2 

	2.	Indemnity of RCF Group Members 

  

	2.1	Indemnity 

  
 Subject to clause 3, Newmont indemnifies and holds harmless the RCF Group Members jointly and severally and to the full extent lawful, from and against
all Losses any RCF Group Member incurs in connection with any claims now or in the future by investors or any other persons arising out of or in connection with the AMC Securities or disclosures in the AMC Prospectus. 
  

	2.2	Discharge of liability 

  

	 	(a)	It is not necessary for the RCF Group Member to incur expense or to make any payment before enforcing the indemnity. The liability of Newmont under the indemnity in clause 2.1
arises simultaneously with the liability of the RCF Group Member. 

  

	 	(b)	Where any RCF Group Member has become liable to any person or entity and Newmont is required to indemnify the RCF Group Member against that liability in accordance with clause 2.1
then Newmont will, if so required by the RCF Group Member, pay direct to such person or entity an amount sufficient to fully discharge all of that liability of the RCF Group Member. 

  

	2.3	Continuing Indemnity 

  
 The indemnity contained in clause 2.1 is a continuing obligation, separate and independent from the obligations of any RCF Group Member and Newmont under
any other document. 
  

	3.	Limits of indemnity 

  

	3.1	AMC Indemnity 

  

	 	(a)	Subject to clause 3.1(b), the RCF Group Members may only call on the indemnity where the RCF Group Members have exhausted all reasonable recourse against AMC under the AMC
Indemnity, it being acknowledged that in circumstances where: 

  

	 	(i)	AMC is unable to satisfy the indemnity claim in full, RCF may enforce the indemnity in clause 2.1 in order to recover the balance of the claim; or 

  

	 	(ii)	an Event of Insolvency has occurred in relation to AMC, 

  
 RCF is not required to commence formal legal proceedings against AMC to exhaust reasonable recourse against AMC in accordance with this clause 3.1(a).

  

	 	(b)	Where any claim or liability arising out of or in connection with the AMC Securities or the disclosures in the AMC Prospectus is caused by the fraud or negligence of Newmont, clause
3.1(a) shall not apply. In such circumstances, the RCF Group Members will exhaust all reasonable recourse against Newmont under clause 2 of this deed before making a call on the AMC Indemnity. 

  

	3.2	Negligent and fraudulent acts 

  
 The indemnity in clause 2 of this deed does not apply to the extent a Loss results from the fraud or negligence of a RCF Group Member. 
  

 3 

	4.	Payments 

  

	4.1	Notice 

  
 Subject to clause 3 of this deed, Newmont will pay any amount payable under the indemnity in this deed within seven (7) days of receiving notice from the
RCF Group Member. Such notice shall set out the payee and address for payment in respect of any such Losses, shall set out each category of Loss claimed and shall set out in reasonable detail all support and justification that the Loss was suffered
by RCF. Where there is a dispute in relation to whether an amount is payable by Newmont under clause 2.1, Newmont will pay the amount not in dispute in accordance with this clause. 
  

	4.2	Method of payment 

  
 All payments under this deed must be made by bank cheque or other immediately available funds within 2 working days of any notice in writing given by a
RCF Group Member pursuant to clause 4.1. 
  

	4.3	No set off 

  
 All payments which Newmont is required to make under this deed must be: 
  

	 	(a)	without any set off, counterclaim or condition; and 

  

	 	(b)	without any deduction or withholding for any tax or any other reason, unless Newmont is required to make a deduction or withholding by applicable law. 

  

	4.4	Subrogation 

  
 Where, under this deed, Newmont has paid an amount to discharge any liability of a RCF Group Member, Newmont will, to the extent of the amount paid, be
subrogated to the rights of the RCF Group Member in relation to that liability and will be entitled to the benefits of those rights, if any. 
  

	5.	Notices 

  

	5.1	Notices 

  
 Any notice or other communication including, but not limited to, any request, demand, consent or approval, to or by a party to this deed must be in
writing and addressed: 
  

			
	Name:	  	Newmont Australia Limited
	Attention:	  	                [insert]
	Address:	  	100 Hutt Street
	 	  	Adelaide, South Australia
	Facsimile:	  	                +61 8 8232 5152
		
	Name:	  	RCF Group Members
	Attention:	  	                Mr Brian Dolan
	Address:	  	1400 Sixteenth Street
	 	  	Suite 200
	 	  	DENVER, CO 80202
	 	  	United States of America
	Facsimile:	  	                +1 720 946 1450

  
 (or as otherwise
notified by that party to the other party from time to time). 
  

	5.2	Delivery 

  
 Any notice or other communication is regarded as being delivered: 
  

	 	(a)	if by delivery in person, when delivered to the address; 

  

	 	(b)	if by post, 5 business days from and including the date of postage. 

  

 4 

	6.	Execution in several parts 

  
 This deed maybe executed in any number of counterparts. Each counterpart is an original but the counterparts together are one and the same. Any
counterpart of this deed is deemed to have been duly executed if it is executed by a party and sent by facsimile transmission to all the other parties. 
  

	7.	Governing law and jurisdiction 

  
 This deed is governed by the laws of Queensland. The parties irrevocably submit to the exclusive jurisdiction of the courts of Queensland. 
  
 Executed as a deed. 
  

			
	 Executed as a Deed by Newmont Australia Limited ACN 009 
 295 765 by its attorney under power dated 17 November 2004
 (who by his execution hereof states that he has not received notice
 of the revocation of that power of attorney) in the presence of
  
 Witness  Margaret Corston
	  	 
		
	 /s/ Margaret Corston

	  	 /s/ Martin S. Janes

	 Signature
	  	 Signature

		
	 Margaret Corston

	  	 Martin S. Janes

	 Name
	  	 Name

	 Signed by an authorized representative of Resource Capital Fund III L.P.
 By Resource Capital Associates III L.P., G.P.
	  	 
	 By RCA III GP L.L.C., G.P.
	  	 Date:                     ,
2004

		
	 /s/ Brian T. Dolan

	  	 Brian T. Dolan, Vice President

	 Signature
	  	 Name / Title

  

 5 

			
	 Signed by Brian Dolan as attorney for ACN 111 279 906 Ltd 
 ABN 68 111 279 906 under power of attorney dated 26 November
 2004
  
 in the presence of:
	  	 
		
	 /s/ S. E. Thomas

	  	 /s/ Brian T. Dolan, Attorney-in-Fact

	Signature of witness	  	 By executing this agreement the attorney states that the
 attorney has received no notice of revocation of the power of attorney

	 Sian Emma Thomas

	  	 
	Name of witness	  	 
		
	 Signed by Brian Dolan as attorney for QMCH Pty Ltd
 ABN 27 111 293 433 under power of attorney dated November 2004
 in the presence of:
	  	 
		
	 /s/ S. E. Thomas

	  	 /s/ Brian T. Dolan, Attorney-in Fact

	Signature of witness	  	 By executing this agreement the attorney states that the
 attorney has received no notice of revocation of the power of attorney

	 Sian Emma Thomas

	  	 
	Name of witness	  	 

  

 6

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