FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the Month of June, 2003

Commission File Number 0-20588

Newmont Yandal Operations Limited

(f/k/a Normandy Yandal Operations Limited)

Translation of registrant's name into English

100 Hutt Street, Adelaide 5000, South Australia, Australia

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ___ No X

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________

On ~~June~~May 521, 2003, ~~Standard~~Newmont &Yandal ~~Poor's~~Operations ~~Ratings~~Limited ~~Services~~ ("~~S&P~~Yandal") ~~announced~~received ~~that~~a notice itfrom ~~lowered~~a ~~Newmont~~gold ~~Yandal~~hedge ~~Operations~~counterparty ~~Limited's (the~~alleging ~~"Company's")~~a ~~corporate~~right ~~credit rating~~ to ~~selective~~terminate ~~default~~a ~~('SD'),~~gold hedge ~~from~~counterparty ~~'CC.' However,~~contract ~~S&P~~with ~~indicated~~Yandal ~~that~~before ~~the~~its ~~issue~~scheduled ~~rating~~maturity based on the alleged ~~Company's~~occurrence ~~US$300~~of ~~million~~an ~~senior~~early ~~notes,~~termination ~~due~~event ~~April~~under ~~2008 (~~the ~~"Notes"), remains~~contract. atThis ~~'CC'~~counterparty ~~until~~did ~~nonpayment of interest or acceptance by~~not ~~noteholders~~accept ofthe aMay ~~current~~28, 2003 offer made by Yandal Bond Company Limited ("~~Bondco~~YBCL")~~, a~~ ~~subsidiary of the Company's parent, Newmont Mining Corporation,~~ to acquire all ~~Notes~~of ~~not~~the ~~held~~hedge bypositions ~~Bondco. S&P~~of ~~indicated~~Yandal’s ~~that~~gold ithedge ~~will~~counterparties. This ~~continue~~counterparty tohas ~~monitor~~not ~~the~~yet ~~outcome~~demanded of the ~~offer~~payment required to ~~noteholders,~~be ~~but indicated~~made ~~that~~under if the ~~offer~~contract isif ~~accepted by noteholders, then the~~an ~~Company's~~early ~~corporate~~termination ~~credit~~event ~~rating and issue rating will be lowered to 'D~~occurred.'

~~According~~On toJune ~~S&P~~10, an2003, ~~issuer~~Yandal ~~credit~~received ~~rating~~notice ~~("ICR")~~from ~~is "changed to 'D' or 'SD' (Selective Default) upon~~ the ~~occurrence~~counterparty ofthat ait ~~default~~agreed onnot ~~any~~to ~~financial~~demand ~~obligation." "'SD' is used if~~ the ~~issuer~~payment ~~defaults~~required ~~selectively -~~to ~~that~~be ~~is,~~made ~~defaulting~~under onthe ~~one~~contract ~~issue~~until orclose ~~class~~ of ~~issues,~~business ~~but~~on ~~honoring~~June ~~others~~26, ~~in a timely fashion~~2003." ~~'D'~~YBCL’s istender ~~assigned~~offer ~~when~~for ~~S&P~~all ~~"believes~~of ~~the default~~Yandal’s ~~will~~8 be7/8% aSenior ~~general~~Notes ~~default~~due ~~and the issuer will fail to meet is~~2008 ~~other~~expires ~~obligations~~at as5:00 ~~they come due~~p.~~" According to S&P~~m., ~~"'Default'~~New ~~means actually~~York ~~missing~~City atime, ~~payment~~on -June of26, ~~interest or principal~~ 2003. .The .counterparty’s ~~and includes conduct of a coercive tender~~ offer ~~or exchange offer which is tantamount~~ to ~~defaulting~~forbear ~~even~~was ~~though~~conditioned noupon ~~payment~~the isreinstatement ~~missed.~~and ~~The~~continuing ~~issuer~~effectiveness ~~offers cash~~through orclose ~~securities~~of ~~having~~business aon ~~total~~June ~~value that is clearly less than par - and the creditor has no real alternative to receive everything initially promised." According to S&P~~26, ~~"completion~~2003 of ~~such~~YBCL’s anMay ~~offer~~28, ~~therefore,~~2003 ~~is treated~~offer asto apurchase ~~default, notwithstanding~~ the ~~creditors' apparent~~ ~~acquiescence."~~counterparty’s ~~"If~~hedge ~~the~~positions ~~issuer's~~with ~~offer~~Yandal. isThe ~~limited~~counterparty toindicated ~~specific~~that ~~issues~~it ~~only,~~intended ~~the~~to ~~ICR~~continue ~~is changed~~ to ~~'SD.'"~~evaluate ~~"An~~YBCL’s ~~obligation~~offer ~~rated~~in ~~'CC'~~the ~~is currently~~context ~~highly~~of ~~vulnerable~~developments relating to ~~nonpayment~~Yandal."

YBCL has informed Yandal that YBCL has agreed to reinstate its offer to the counterparty and continue the offer’s effectiveness through close of business on June 26, 2003.

The counterparty’s agreement to forbear automatically terminates upon the occurrence of any other termination event or event of default under its hedge contract, or if Yandal is subject to similar events or defaults under one or more other agreements. All of Yandal’s hedge contracts with other hedge counterparties were acquired by YBCL as a result of its May 28, 2003 offer, and YBCL has not asserted similar events or defaults under any of the hedge contracts acquired by YBCL.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

NEWMONT YANDAL OPERATIONS LIMITED

ABN 30 007 066 766

(Registrant)

By: /s/ John Dow ~~Name:~~ ~~John Dow Title: Chairman~~

~~Dated~~Name: John ~~June~~Dow ~~6, 2003~~

Title: Chairman

Dated: June 12, 2003

Filing Compare · NEWMONT YANDAL OPERATIONS LTD