Mr Ramsey said the proposed sale had nothing to do with any problems Newmont had encountered with the Waihi community over the impact of drilling activities.
"In general, Newmont pursues any sort of transaction that is going to create shareholder value and better align our asset portfolio," he said.
Omar Jabara, a spokesman for Newmont Mining Corporation in Denver, US, said OceanaGold had approached Newmont with an interest in buying the Waihi mine.
"The company has 24 years' experience in New Zealand," he said. "They have a reputation for developing and maintaining strong positive relationships with communities. We believe they will be a good strategic, practical, and philosophical fit for Waihi."
The sale will be subject to approval under the Overseas Investment Act, with completion likely to be in July.
Newmont Waihi Gold general manager Glen Grindlay said it would be business as usual until the sale was completed.
"We want this transition to be as smooth as possible ... Waihi Gold employees will continue to be employed by the same company, Waihi Gold Company, but with new owners. All of our current existing New Zealand contracts will be transferred directly to the new owners of the company."
Grindlay also said all consent conditions would remain the same.
Mick Wilkes, OceanaGold's managing director and chief executive, said the company had long believed Waihi would be a strong strategic fit.
"Waihi represents a unique opportunity for us to acquire a high-quality asset that has demonstrated the propensity to extend mine life for more than two decades in what is still a very prospective, high-quality goldfield."
OceanaGold Corporation
Operations include:
•New Zealand's largest gold mining operation at the Macraes goldfield in Otago.
•The Reefton Open Pit mine on the West Coast.
•The Didipio Mine in northern Luzon, Philippines.
•Listed on the Toronto, Australian and New Zealand stock exchanges.
•In 2015, the company expects to produce 295,000 to 335,000 ounces of gold from the New Zealand (including Waihi) and Philippine operations.
What do you think?
Have your say below or email editor@bayofplentytimes.co.nz, go to our facebook page, text 021 241 4568 BOP (message) or write to Private Bag 12002.
Response may be published.