exv12w1

Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions except ratio)

The ratio of earnings to fixed charges represents income (loss) from continuing operations before income taxes, noncontrolling interests, equity (loss) income of affiliates and cumulative effect of changes in accounting principles, divided by interest expense. Interest expense includes amortization of capitalized interest and the portion of rent expense representative of interest. The financial information of all prior periods has been reclassified to reflect discontinued operations.


	Years Ended December 31,
	2009		2008		2007			2006		2005
Earnings:
Income (loss) from continuing operations before income tax expense and other items^{(1) (2)}	$	2,913	$	1,252	$	(389	)	$	1,212	$	907
Adjustments:
Fixed charges added to earnings		135		147		125			102		101
Dividends from equity affiliates		2		—		2			1		—
Amortization of capitalized interest		17		17		18			13		16

	$	3,067	$	1,416	$	(244	)	$	1,328	$	1,024

Fixed Charges:
Net interest expense⁽³⁾	$	120	$	135	$	118		$	97	$	97
Portion of rental expense representative of interest		16		12		7			5		4

Fixed charges added to earnings		136		147		125			102		101
Capitalized interest		111		47		50			57		39

	$	247	$	194	$	175		$	159	$	140

Ratio of earnings to fixed charges		12.4		7.3			⁽⁴⁾		8.3		7.3


⁽¹⁾		Income (loss) from continuing operations before income tax expense, noncontrolling interest, equity (loss) income of affiliates and cumulative effect of a change in accounting principle.

⁽²⁾		Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included in Income tax expense.

⁽³⁾		Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.

⁽⁴⁾		Earnings for 2007 were inadequate to cover fixed charges by $419.