EX-99.1 2 v182297_ex99-1.htm Unassociated Document
 
 
Newmont Mining Corporation
6363 South Fiddlers Green Circle, Suite 800
Greenwood Village, CO 80111
T  303.863.7414
F  303.837.5837
www.newmont.com
 
Newmont Generates First Quarter 2010 Operating Cash Flow of $728 million; Adjusted Net Income(1) of $408 million, up 105% from First Quarter 2009

This release should be read in conjunction with Newmont’s First Quarter 2010 Form 10-Q filed with the Securities and Exchange Commission on April 27, 2010 (available at www.newmont.com).

DENVER, April 27, 2010 – Newmont Mining Corporation (NYSE: NEM) (“Newmont” or the “Company”) today announced first quarter results, with net cash from continuing operations of $728 million.  Equity gold production for the quarter was 1.3 million ounces and the average realized gold price was $1,106 per ounce.  Costs applicable to sales for gold were $480 per ounce on a co-product basis, resulting in adjusted net income(1) of $408 million ($0.83 per share) compared to $199 million ($0.42 per share) in the prior year quarter. Net income attributable to Newmont stockholders on a GAAP basis was $546 million ($1.11 per share) compared to $189 million ($0.40 per share) in the prior year quarter.

First Quarter 2010 Highlights:

 
q
Equity gold and copper production of 1.3 million ounces and 90 million pounds, respectively;
 
q
Average realized gold and copper price of $1,106 per ounce and $3.33 per pound, respectively;
 
q
Costs applicable to sales for gold and copper of $480 per ounce on a co-product basis ($241 on a by-product basis) and $0.78 per pound, respectively;
 
q
Sales of $2.2 billion, an increase of 46% over the first quarter of 2009;
 
q
Gold operating margin(2) of 57%, up from 52% in the first quarter of 2009;
 
q
Net cash provided from continuing operations of $728 million, up 91% from the first quarter of 2009;
 
q
Adjusted net income(1) of $408 million ($0.83 per share), up 105% (98% on a per share basis) from the first quarter of 2009; and
 
q
Maintaining 2010 outlook for gold production, costs applicable to sales and capital expenditures.

“With a 22% increase in our average realized gold price, our net gold operating margin expanded by 32% to $626 per ounce, further demonstrating our ability to provide significant gold price leverage through expanding cash operating margins,” said Richard O’Brien, President and Chief Executive Officer.  “We also recently secured the mining lease for our Akyem project in Ghana and continue our dialogue with local communities and Ghanaian authorities. In addition, we are advancing our development plans at Conga in Peru following a successful public meeting with local stakeholders. The strength of our balance sheet coupled with the progress being made on our advanced development assets, Newmont is well positioned to invest in our project pipeline while maintaining our financial strength and flexibility.”

The Company is maintaining its previously announced 2010 outlook for equity gold production of 5.3 to 5.5 million ounces and costs applicable to sales of between $450 and $480 per ounce on a co-product basis.  Costs applicable to sales are expected to change by approximately $5 per ounce for every $10 change in the oil price and by roughly $5 per ounce for every 0.10 change in the Australian dollar exchange rate for the remainder of the year.
 
(1) See reconciliation of adjusted net income to net income on a GAAP basis on page 10.
(2 ) “Gold operating margin” defined as average realized price per ounce less costs applicable to sales per ounce, excluding amortization and reclamation per ounce.
 
 
Page 1 of 12
 
 
 

 
 
 
 
 
Regional Operations

In the first quarter of 2010, the Company reported equity gold production of 1.3 million ounces at costs applicable to sales of $480 per ounce on a co-product basis, in line with management’s expectations. Costs applicable to sales per gold ounce increased 11% in the first quarter of 2010 from 2009 due to higher mining and milling costs and lower production in Nevada and at Yanacocha in Peru.

North America

Nevada – Nevada produced 433,000 equity ounces of gold at costs applicable to sales of $610 per ounce during the first quarter.  Equity gold production met expectations and costs applicable to sales were slightly higher than expected due to lower by-product credits, higher underground mining costs and higher production taxes.  Gold ounces produced decreased 16% in the first quarter of 2010 from 2009 due to lower grade, throughput and recovery. Costs applicable to sales per ounce increased 20% in the first quarter of 2010 from 2009 due to lower production and higher surface mining costs related to geotechnical issues at Gold Quarry and lower capitalized mine development activities.

The Company continues to expect 2010 equity gold production from Nevada of approximately 1.6 to 1.7 million ounces at costs applicable to sales of between $590 and $630 per ounce.

La Herradura – Equity gold production at La Herradura in Mexico during the first quarter was 40,000 ounces at costs applicable to sales of $344 per ounce.  Equity gold production was slightly higher than expected and costs applicable to sales were lower than expected due to higher leach placement and production from the new Soledad and Dipolos deposits.  Gold ounces produced increased 60% in the first quarter of 2010 from 2009 due to the commencement of production from the Soledad and Dipolos pits in January 2010. Costs applicable to sales per ounce decreased 11% in the first quarter of 2010 from 2009 due to higher production.

The Company expects La Herradura equity gold production to reach 140,000 to 150,000 ounces in 2010 with costs applicable to sales of between $400 and $430 per ounce.

South America

Yanacocha – Equity gold production during the first quarter at Yanacocha in Peru was 217,000 ounces at costs applicable to sales of $372 per ounce.  Equity gold production was lower than expected due to lower leach production partially offset by higher mill production. Costs applicable to sales were higher than expected due to higher milling costs, lower leach production, higher royalties and lower by-product credits.  Gold ounces produced decreased 15% in the first quarter of 2010 from 2009 due to lower mill grade and recovery combined with lower leach tons placed related to mine sequencing. Costs applicable to sales per ounce increased 15% in the first quarter of 2010 from 2009 due to lower production, higher waste mining and higher costs related to maintenance, workers’ participation and royalties.

The Company continues to expect 2010 equity gold production at Yanacocha of between 750,000 and 810,000 ounces at costs applicable to sales of between $360 and $400 per ounce.

Asia Pacific

Boddington As the Company continues to ramp-up to full production at Boddington, equity gold and copper production during the first quarter was 158,000 ounces and 14 million pounds, respectively, at costs applicable to sales of $532 per ounce ($436 per ounce on a by-product basis(3)) and $2.15 per pound.
 
(3) See reconciliation from by-product costs applicable to sales to GAAP costs applicable to sales on page 11.
 
 
Page 2 of 12
 
 
 

 
 
 
 
 
The Company continues to expect 2010 equity gold production at Boddington of 800,000 to 875,000 ounces with costs applicable to sales of $375 to $395 per ounce on a co-product basis ($295 to $315 per ounce on a by-product basis) and 2010 equity copper production of 65 to 75 million pounds at costs applicable to sales of between $1.30 and $1.45 per pound.

Batu Hijau – Equity gold and copper production during the first quarter at Batu Hijau in Indonesia were 88,000 ounces and 76 million pounds, respectively, at costs applicable to sales of $215 per ounce and $0.67 per pound, respectively. Equity gold and copper production were in line with expectations and costs applicable to sales were slightly better than expected due to lower mining costs and a lower allocation of costs to gold. Copper and gold produced increased 79% and 181% in the first quarter of 2010 from 2009, respectively, due to higher throughput and grade as a result of mining in the bottom of Phase 5. Costs applicable to sales decreased 25% and 47% for copper and gold, respectively, in the first quarter of 2010 from 2009 due to higher production and lower mining costs.
.
The Company expects 2010 equity gold and copper production at Batu Hijau to decrease to between 365,000 and 400,000 ounces, and to between 270 and 295 million pounds, respectively, due to the 2009 7% share divestiture completed in March 2010.  The Company’s current economic interest at Batu Hijau is 48.5%.  The Company continues to expect 2010 costs applicable to sales of between $265 and $285 per ounce and $0.75 and $0.85 per pound.

Other Australia/New Zealand - Equity gold production during the first quarter was 276,000 ounces at costs applicable to sales of $558 per ounce.  Equity gold production was in line with expectations as higher production at Kalgoorlie was offset by lower production at Tanami.  Costs applicable to sales were slightly higher than expected due to the stronger Australian dollar.  Gold ounces produced decreased 10% in the first quarter of 2010 from 2009, due to lower production at Tanami, Jundee and Waihi, partially offset by increased production at Kalgoorlie. Production decreased due to lower grade at Tamami, Jundee and Waihi and lower throughput as a result of mill maintenance at Tanami. Production increased at Kalgoorlie due to higher grade and throughput. Costs applicable to sales per ounce increased 13% in the first quarter of 2010 from 2009 due to lower production and the stronger Australian dollar.

The Company continues to expect 2010 equity gold production at the Company’s other Australia/New Zealand operations of between 1.06 and 1.16 million ounces at costs applicable to sales of $530 to $570 per ounce.

Africa

Ahafo – Equity gold production during the first quarter at Ahafo in Ghana was 120,000 ounces at costs applicable to sales of $542 per ounce, in line with expectations.  Gold ounces produced decreased 8% in the first quarter of 2010 from 2009 due to lower grade and recovery, partially offset by higher throughput. Costs applicable to sales per ounce increased 36% in the first quarter of 2010 from 2009 due to lower production and higher labor and fuel costs.

The Company continues to expect 2010 equity gold production at Ahafo of between 460,000 and 500,000 ounces at costs applicable to sales of $515 to $555 per ounce.

Capital Update

Consolidated capital expenditures were $309 million during the first quarter. The Company is maintaining its 2010 consolidated capital expenditure outlook of between $1.4 and $1.6 billion with approximately 30% to be invested in each of the North America and Asia Pacific regions, and the remaining 40% at other locations.  Approximately 40% of 2010 consolidated capital expenditures is expected to be related to major project initiatives, including further development of the Company’s Akyem project in Ghana, the Conga project in Peru, Hope Bay in Canada and other projects, while the remaining 60% is expected to be for maintenance and sustaining expenditures.
 
 
Page 3 of 12
 
 
 

 
 
 
 
 
Updated 2010 Outlook(4)

In addition to the minor production outlook adjustments related to the recent Batu Hijau share divestiture, the Company is increasing outlook for Advanced Products and R&D spending to $230 to $250 million.  The increase is primarily related to higher anticipated spending at Hope Bay as preparations are being made to develop the decline in the second half of 2010.

Description
Q1 Update
2010 Original
Equity gold production (Kozs)
5,300 – 5,500
5,300 – 5,500
Costs applicable to sales - Gold ($/oz)
$450 – $480
$450 – $480
Equity copper production (Mlbs)
330 – 360
350 – 380
Costs applicable to sales  - Copper ($/lb)
$0.85 – $0.95
$0.85 – $0.95
Capital expenditures ($M)
$1,400 – $1,600
$1,400 – $1,600
Amortization ($M)
$970 - $1,000
$940 – $970
Exploration ($M)
$190 – $220
$190 – $220
Advanced projects, research and development ($M)
$230 – $250
$185 – $210
General & administrative ($M)
$160 – $170
$160 – $170
Interest expense, net of capitalized interest ($M)
$270 – $290
$270 – $290
Effective tax rate
24% – 28%
28% – 32%
Assumptions
   
Oil price ($/bbl)
$80
$80
Australian dollar exchange rate
0.90
0.80
Gold price ($/oz)
$1,100
$900
Copper price ($/lb)
$3.00
$2.50
 
(4) All references to expected production and outlook guidance are based on current mine plans, assumptions and current geotechnical, metallurgical, hydrological and other physical conditions. See “Cautionary Statement” on page 12.
 
 
Page 4 of 12
 
 
 

 
 
 
 

Condensed Statements of Consolidated Income
 
   
Three Months Ended
 
   
March 31,
 
   
2010 
   
2009 
 
   
(unaudited, in millions, except per share)
 
 
Sales
  $ 2,242     $ 1,536  
  
               
Costs and expenses 
               
Costs applicable to sales (1)
    875       739  
Amortization
    224       191  
Reclamation and remediation
    13       12  
Exploration   
    43       41  
Advanced projects, research and development
    46       31  
General and administrative   
    45       39  
Other expense, net
    89       73  
  
    1,335       1,126  
Other income (expense) 
               
Other income, net
    48       9  
Interest expense, net   
    (75 )     (32 )
  
    (27 )     (23 )
Income before income tax and other items 
    880       387  
Income tax expense
    (135 )     (105 )
Equity loss of affiliates   
    (2 )     (5 )
Net income   
    743       277  
Net income attributable to noncontrolling interests
    (197 )     (88 )
Net income attributable to Newmont stockholders   
  $ 546     $ 189  
  
               
Income per common share, basic and diluted
  $ 1.11     $ 0.40  
  
               
Cash dividends declared per common share   
  $ 0.10     $ 0.10  
  
               

(1) Exclusive of Amortization and Reclamation and remediation.
 
The Company’s financial statements can be found on its website at www.newmont.com.
 
 
Page 5 of 12
 
 
 

 
 
 
 
 
Condensed Statements of Consolidated of Cash Flow

   
Three Months Ended March 31,
 
   
2010
 
 
2009
 
   
(unaudited, in millions)
 
             
Operating activities:
           
Net income
  $ 743     $ 277  
Adjustments:
               
Amortization
    224       191  
Reclamation and remediation
    13       12  
Deferred income taxes
    (102 )     (19 )
Stock based compensation and other benefits
    18       14  
Other operating adjustments and write-downs
    5       36  
Net change in operating assets and liabilities
    (173 )     (130 )
Net cash provided from continuing operations 
    728       381  
Net cash provided from (used in) discontinued operations 
    (13 )     4  
Net cash provided from operations 
    715       385  
Investing activities:
               
Additions to property, plant and mine development 
    (309 )     (330 )
Investments in marketable debt and equity securities
    (3 )     -  
Acquisitions, net
    -       (11 )
Proceeds from sale of other assets
    38       -  
Other 
    (11 )     (13 )
Net cash used in investing activities 
    (285 )     (354 )
Financing activities:
               
Proceeds from debt, net
    -       1,369  
Repayment of debt 
    (250 )     (1,589 )
Sale of subsidiary shares to noncontrolling interests
    229       -  
Acquisition of subsidiary shares from noncontrolling interests
    (39 )     -  
Dividends paid to common stockholders 
    (49 )     (49 )
Dividends paid to noncontrolling interests
    (220 )     -  
Proceeds from stock issuance, net 
    3       1,239  
Change in restricted cash and other 
    46       13  
Net cash provided from (used in) financing activities of continuing operations
    (280 )     983  
Net cash used in financing activities of discontinued operations
    -       (1 )
Net cash provided from (used in) financing activities
    (280 )     982  
Effect of exchange rate changes on cash 
    (1 )     1  
Net change in cash and cash equivalents 
    149       1,014  
Cash and cash equivalents at beginning of period 
    3,215       435  
Cash and cash equivalents at end of period 
  $ 3,364     $ 1,449  
 
The Company’s financial statements can be found on its website at www.newmont.com.
 
 
Page 6 of 12
 
 
 

 
 
 
 
 
Condensed Consolidated Balance Sheets
 
   
At March 31,
   
At December 31,
 
   
2010
   
2009
 
   
(unaudited, in millions)
 
ASSETS
           
Cash and cash equivalents 
  $ 3,364     $ 3,215  
Trade receivables 
    491       438  
Accounts receivable 
    110       102  
Investments
    73       56  
Inventories
    501       493  
Stockpiles and ore on leach pads
    470       403  
Deferred income tax assets 
    229       215  
Other current assets
    723       900  
Current assets 
    5,961       5,822  
Property, plant and mine development, net 
    12,456       12,370  
Investments
    1,232       1,186  
Stockpiles and ore on leach pads
    1,519       1,502  
Deferred income tax assets 
    1,030       937  
Other long-term assets
    447       482  
Total assets 
  $ 22,645     $ 22,299  
LIABILITIES
               
Current portion of debt
  $ 78     $ 157  
Accounts payable 
    356       396  
Employee-related benefits 
    179       250  
Income and mining taxes 
    280       200  
Other current liabilities
    1,120       1,317  
Current liabilities 
    2,013       2,320  
Debt
    4,496       4,652  
Reclamation and remediation liabilities
    810       805  
Deferred income tax liabilities 
    1,370       1,341  
Employee-related benefits 
    395       381  
Other long-term liabilities
    156       174  
Liabilities of operations held for sale
    -       13  
Total liabilities 
    9,240       9,686  
Commitments and contingencies
               
EQUITY
               
Common stock 
    773       770  
Additional paid-in capital 
    8,188       8,158  
Accumulated other comprehensive income
    743       626  
Retained earnings 
    1,646       1,149  
Newmont stockholders’ equity 
    11,350       10,703  
Noncontrolling interests 
    2,055       1,910  
Total equity
    13,405       12,613  
Total liabilities and equity 
  $ 22,645     $ 22,299  
 
The Company’s financial statements can be found on its website at www.newmont.com.
 
 
Page 7 of 12
 
 
 

 
 
 
 

Production Statistics
 
   
Three Months Ended March 31,
 
   
2010
   
2009
 
Gold
           
Consolidated ounces produced (thousands):
           
 North America
           
Nevada
    433       518  
La Herradura
    40       25  
      473       543  
 South America
               
Yanacocha
    423       499  
                 
 Asia Pacific
               
Boddington
    158       -  
Batu Hijau
    166       59  
Other
               
 Jundee
    92       102  
 Kalgoorlie
    104       76  
 Tanami
    53       89  
 Waihi
    27       39  
      276       306  
      600       365  
 Africa
               
Ahafo
    120       130  
      1,616       1,537  
                 
Copper
               
Consolidated pounds produced (millions):
               
 Asia Pacific
               
Boddington
    14       -  
Batu Hijau
    145       81  
      159       81  
                 
Gold
               
Equity ounces produced (thousands):
               
 North America
               
Nevada
    433       518  
La Herradura
    40       25  
      473       543  
 South America
               
Yanacocha
    217       256  
                 
 Asia Pacific
               
Boddington
    158       -  
Batu Hijau
    88       26  
Other
               
 Jundee
    92       102  
 Kalgoorlie
    104       76  
 Tanami
    53       89  
 Waihi
    27       39  
      276       306  
      522       332  
 Africa
               
Ahafo
    120       130  
      1,332       1,261  
 Discontinued Operations
               
Kori Kollo
    -       15  
      1,332       1,276  
                 
Copper
               
Equity pounds produced (millions):
               
 Asia Pacific
               
Boddington
    14       -  
Batu Hijau
    76       37  
      90       37  
 
Page 8 of 12
 
 
 

 
 
 
 
 
   
Three Months Ended March 31,
 
   
2010
   
2009
 
 Gold
           
Costs Applicable to Sales ($/ounce) (1)
           
 North America
           
Nevada
  $ 610     $ 509  
La Herradura
    344       387  
      587       503  
 South America
               
Yanacocha
    372       324  
                 
 Asia Pacific
               
Boddington
    532       -  
Batu Hijau
    215       406  
Other
               
Jundee
    386       353  
Kalgoorlie
    539       643  
Tanami
    844       574  
Waihi
    655       367  
      558       492  
      459       476  
 Africa
               
Ahafo
    542       399  
 Average
  $ 480     $ 431  
                 
 Copper
               
Costs Applicable to Sales ($/pound) (1)
               
 Asia Pacific
               
Boddington
  $ 2.15     $ -  
Batu Hijau
    0.67       0.89  
 Average
  $ 0.78     $ 0.89  
 
   
Three Months Ended March 31,
 
   
2010
   
2009
 
 Consolidated Capital Expenditures ($ million)
           
 North America
           
Nevada
  $ 48     $ 53  
Hope Bay
    9       1  
La Herradura
    14       9  
      71       63  
 South America
               
Yanacocha
    40       27  
Conga
    17       6  
      57       33  
                 
 Asia Pacific
               
Boddington
    48       216  
Jundee
    10       5  
Tanami
    19       10  
Kalgoorlie
    4       2  
Waihi
    3       1  
Batu Hijau
    28       6  
Other Asia Pacific
    2       1  
      114       241  
 Africa
               
Ahafo
    21       9  
Akyem
    6       1  
      27       10  
Corporate and Other
    3       3  
 Total - Accrual Basis
    272       350  
                 
 Change in Capital Accrual
    37       (20 )
                 
 Total - Cash Basis
  $ 309     $ 330  
       
               
(1)     Excludes Amortization and Reclamation.
               
 
Page 9 of 12
 
 
 

 
 
 
 
 
Supplemental Information

Non-GAAP Financial Measures

Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by generally accepted accounting principles (“GAAP”). These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.
 
Reconciliation of Adjusted Net Income to GAAP Net Income

Management of the Company uses the non-GAAP financial measure Adjusted net income to evaluate the Company’s operating performance, and for planning and forecasting future business operations.  The Company believes the use of Adjusted net income allows investors and analysts to compare the results of the continuing operations of the Company and its direct and indirect subsidiaries relating to the production and sale of minerals to similar operating results of other mining companies, by excluding exceptional or unusual items, income or loss from discontinued operations and the permanent impairment of assets, including marketable securities and goodwill.  Management’s determination of the components of Adjusted net income are evaluated periodically and based, in part, on a review of non-GAAP financial measures used by mining industry analysts.

The table below sets forth a reconciliation of adjusted net income to GAAP net income, the directly comparable GAAP financial measure.

($million except per share, after-tax)
    Q1 2010       Q1 2009  
 GAAP Net income attributable to Newmont Stockholders
  $ 546     $ 189  
 Income tax estimate revisions
    (127 )     -  
 Net gain on asset sales
    (25 )     -  
 PTNNT community contribution
    13       -  
 Impairment of assets
    1       5  
 Boddington acquisition costs
    -       5  
 Adjusted net income
  $ 408     $ 199  
 Adjusted net income per share
  $ 0.83     $ 0.42  
 
 
Reconciliation of Co-Product Costs Applicable to Sales to By-Product Costs Applicable to Sales

Sales and Costs applicable to sales for Boddington are presented in the Condensed Consolidated Financial Statements for both gold and copper due to the significant portion of copper production (approximately 15-20% of total sales based on the latest life-of-mine plan and metal price assumptions). The co-product method allocates costs applicable to sales to each metal based on specifically identifiable costs where applicable and on a relative proportion of sales values for other costs. Management also assesses the performance of the Boddington mine on a by-product basis due to the majority of sales being derived from gold and to determine contingent consideration payments to AngloGold. The by-product method deducts copper sales from costs applicable to sales as shown in the following tables:
 
Page 10 of 12
 
 
 

 
 
 
 
 
Boddington
 
 By-Product
                   
   
method
       Co-Product method
 
 Q1 2010
 
 Gold
   
 Gold
   
 Copper
   
 Total
 
 ($million except per ounce/pound)
                       
 Revenue, net
  $ 167     $ 167     $ 38     $ 205  
 Production costs:
                               
 Direct mining and production costs
    131       103       28       131  
 By-product credits
    (39 )     (1 )     -       (1 )
 Royalties and production taxes
    7       5       2       7  
 Other
    (33 )     (27 )     (6 )     (33 )
 Costs applicable to sales
    66       80       24       104  
 Amortization and reclamation
    29       23       6       29  
 Total production costs
    95       103       30       133  
 Gross margin
    72       64       8       72  
                                 
 Gold ounces sold (000)
    150       150                  
 Costs applicable to sales per ounce
  $ 436     $ 532                  
 Copper pounds sold (millions)
    N/A               11          
 Costs applicable to sales per pound
    N/A             $ 2.15          
 
Consolidated
 
By-Product
                   
(Boddington and Batu Hijau By-Product)
 
method
   
 Co-Product method
 
Q1 2010
 
Gold
   
Gold
   
Copper
   
Total
 
 ($million except per ounce/pound)
                       
 Revenue, net
  $ 1,749     $ 1,749     $ 493     $ 2,242  
 Production costs:
                               
 Direct mining and production costs
    926       813       113       926  
 By-product credits
    (536 )     (36 )     (7 )     (43 )
 Royalties and production taxes
    49       44       5       49  
 Other
    (57 )     (61 )     4       (57 )
 Costs applicable to sales
    382       760       115       875  
 Amortization and reclamation
    235       199       36       235  
 Total production costs
    617       959       151       1,110  
 Gross margin
    1,132       790       342       1,132  
                                 
 Gold ounces sold (000)
    1,581       1,581                  
 Costs applicable to sales per ounce
  $ 241     $ 480                  
 Copper pounds sold (millions)
    N/A               148          
 Costs applicable to sales per pound
    N/A             $ 0.78          
 
To view complete financial disclosure, including regional mine statistics, Results of Consolidated Operations, Liquidity and Capital Resources, Management’s Discussion & Analysis, the Form 10-Q, and a complete outline of the 2009 Operating and Financial guidance by region, please see www.newmont.com.
 
Page 11 of 12
 
 
 

 
 
 
 
 
The Company’s first quarter and earnings conference call and web cast presentation will be held on Tuesday, April 27, 2010 beginning at 11:00 a.m. Eastern Time (9:00 a.m. Mountain Time).  To participate:

Dial-In Number
800.369.1673
Intl Dial-In Number
517.308.9349
Leader
John Seaberg
Passcode
Newmont
Replay Number
888.568.0526
Intl Replay Number
203.369.3194
Replay Passcode
2010

The conference call also will be simultaneously carried on our web site at www.newmont.com under Investor Relations/Presentations and will be archived there for a limited time.
 
Investor Contacts
   
John Seaberg
303.837.5743
john.seaberg@newmont.com
     
Monica Brisnehan
303.837.5836
monica.brisnehan@newmont.com
     
Media Contacts
   
Omar Jabara
303.837.5114
omar.jabara@newmont.com
 
Cautionary Statement

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended which are intended to be covered by the safe harbor created by such sections and other applicable laws.  Such forward-looking statements include, without limitation: (i) estimates of future production and sales; (ii) estimates of future capital expenditures, costs applicable to sales, other expenses and taxes, for specific operations and on a consolidated basis; (iii) statements regarding future exploration expenditures, results and reserves; (iv) statements regarding fluctuations in capital and currency markets; (v) statements regarding potential cost savings, productivity, operating performance, and cost structure; and (vi) expectations regarding the ramp-up, development, mine life, production and costs applicable to sales and exploration potential of the Company’s projects, including Boddington, Akyem, Conga and Hope Bay.  Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect.  Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the Company’s projects being consistent with current expectations and mine plans; (iii) political developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar to the U.S. dollar, as well as other the exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper and oil; (vi) certain assumptions for taxes, royalties and other expenses; (vii) prices for key supplies being approximately consistent with current levels; and (viii) the accuracy of our current mineral reserve and mineral resource estimates. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.  However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements.  Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational risks in the countries in which we operate, and governmental regulation and judicial outcomes.  For a more detailed discussion of such risks and other factors, see the Company’s 2009 Annual Report on Form 10-K, filed on February 25, 2010, with the Securities and Exchange Commission, as well as the Company’s other SEC filings.  The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
 
 
Page 12 of 12