10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

Form 10-K

(Mark One)

þ             ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)

                   OF THE SECURITIES EXCHANGE ACT OF 1934

               For the Fiscal Year Ended December 31, 2011

or

¨             TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

                   OF THE SECURITIES EXCHANGE ACT OF 1934

               For the transition period from                    to                     

Commission File Number: 001-31240

NEWMONT MINING CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	84-1611629
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)
6363 South Fiddler’s Green Circle Greenwood Village, Colorado	80111 (Zip Code)
(Address of Principal Executive Offices)

Registrant’s telephone number, including area code

(303) 863-7414

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Name of Each Exchange on Which Registered
Common Stock, $1.60 par value	New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.     Yes  þ    No  ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.    Yes  ¨    No  þ

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  þ    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  þ    No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “accelerated filer”, “large accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	þ	Accelerated file  ¨	Non-accelerated filer  ¨	Smaller reporting company  ¨
		(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  þ

At June 30, 2011, the aggregate market value of the registrant’s voting and non-voting common equity held by non-affiliates of the registrant was $26,633,084,783 based on the closing sale price as reported on the New York Stock Exchange. There were 490,150,298 shares of common stock outstanding (and 4,914,758 exchangeable shares exchangeable into Newmont Mining Corporation common stock on a one-for-one basis) on February 15, 2012.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of Registrant’s definitive Proxy Statement submitted to the Registrant’s stockholders in connection with our 2012 Annual Stockholders Meeting to be held on April 24, 2012, are incorporated by reference into Part III of this report.

TABLE OF CONTENTS

		Page
PART I
ITEM 1.	BUSINESS		1
	Introduction		1
	Segment Information, Export Sales, etc.		1
	Products		1
	Hedging Activities		4
	Gold and Copper Reserves		4
	Licenses and Concessions		6
	Condition of Physical Assets and Insurance		6
	Environmental Matters		7
	Employees and Contractors		7
	Forward-Looking Statements		8
	Available Information		9
ITEM 1A.	RISK FACTORS		9
ITEM 2.	PROPERTIES		25
	Production and Development Properties		25
	Operating Statistics		32
	Proven and Probable Reserves		34
ITEM 3.	LEGAL PROCEEDINGS		42
ITEM 4A.	EXECUTIVE OFFICERS OF THE REGISTRANT		42
ITEM 4B.	MINE SAFETY DISCLOSURE		44
PART II
ITEM 5.	MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES		45
ITEM 6.	SELECTED FINANCIAL DATA		47
ITEM 7.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF CONSOLIDATED FINANCIAL CONDITION AND RESULTS OF OPERATIONS		48
	Overview		48
	Accounting Developments		54
	Critical Accounting Policies		54
	Consolidated Financial Results		59
	Results of Consolidated Operations		68
	Liquidity and Capital Resources		75
	Environmental		83
	Forward Looking Statements		83
	Non-GAAP Financial Measures		83
ITEM 7A.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		86
	Metal Price		86
	Foreign Currency		87
	Hedging		87
	Fixed and Variable Rate Debt		90

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		Page
ITEM 8.	FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA		91
ITEM 9.	CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE		168
ITEM 9A.	CONTROLS AND PROCEDURES		168
PART III
ITEM 10.	DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE		168
ITEM 11.	EXECUTIVE COMPENSATION		168
ITEM 12.	SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS		169
ITEM 13.	CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE		169
ITEM 14.	PRINCIPAL ACCOUNTING FEES AND SERVICES		169
PART IV
ITEM 15.	EXHIBITS, FINANCIAL STATEMENT SCHEDULES		170
SIGNATURES			S-1
EXHIBIT INDEX			E-1

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NEWMONT MINING CORPORATION

PART I

ITEM 1. BUSINESS (dollars in millions except per share, per ounce and per pound amounts)

Introduction

Newmont Mining Corporation is primarily a gold producer with significant operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Mexico. At December 31, 2011, Newmont had attributable proven and probable gold reserves of 98.8 million ounces and an aggregate land position of approximately 31,500 square miles (81,500 square kilometers). Newmont is also engaged in the production of copper, principally through its Batu Hijau operation in Indonesia and Boddington operation in Australia. Newmont Mining Corporation’s original predecessor corporation was incorporated in 1921 under the laws of Delaware.

Newmont’s corporate headquarters are in Greenwood Village, Colorado, USA. In this report, “Newmont,” the “Company,” “our” and “we” refer to Newmont Mining Corporation together with our affiliates and subsidiaries, unless the context otherwise requires. References to “A$” refer to Australian currency, “C$” to Canadian currency, “NZ$” to New Zealand currency, “IDR” to Indonesian currency and “$” to United States currency.

Newmont’s Sales and long-lived assets are geographically distributed as follows:

	Sales									Long-Lived Assets
	2011			2010			2009			2011			2010			2009
Australia/New Zealand		28	%		24	%		16	%		29	%		33	%		33	%
United States		26	%		22	%		25	%		35	%		20	%		21	%
Peru		19	%		19	%		26	%		14	%		11	%		10	%
Indonesia		15	%		26	%		24	%		13	%		14	%		14	%
Ghana		8	%		7	%		7	%		8	%		8	%		8	%
Mexico		4	%		2	%		2	%		1	%		1	%		1	%
Canada		—	%		—	%		—	%		—	%		13	%		13	%

On April 6, 2011, Newmont acquired all of the outstanding common shares of Fronteer Gold Inc. (“Fronteer”). Pursuant to the terms of the acquisition, shareholders of Fronteer received C$14.00 in cash and one-fourth of a common share in Pilot Gold Inc., a Canadian corporation, which retained certain exploration assets of Fronteer, for each common share of Fronteer. Newmont acquired, among other assets, the exploration stage Long Canyon project, which is located approximately one hundred miles from the Company’s existing infrastructure in Nevada and provides the potential for significant development and operating synergies.

Segment Information, Export Sales, etc.

Our operating segments include North America, South America, Asia Pacific and Africa. Our North America segment consists primarily of Nevada in the United States, La Herradura in Mexico and Hope Bay in Canada. Our South America segment consists primarily of Yanacocha and Conga in Peru. Our Asia Pacific segment consists primarily of Boddington in Australia, Batu Hijau in Indonesia and other smaller operations in Australia and New Zealand. Our Africa segment consists primarily of Ahafo and Akyem in Ghana. See Item 1A, Risk Factors, below and Note 3 to the Consolidated Financial Statements for information relating to our operating segments, domestic and export sales and lack of dependence on a limited number of customers.

Products

References in this report to “attributable gold ounces” or “attributable copper pounds” mean that portion of gold or copper produced, sold or included in proven and probable reserves based on our ownership and/or economic interest, unless otherwise noted.

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NEWMONT MINING CORPORATION

Gold

General.    We had consolidated gold production of 5.9 million ounces (5.2 million ounces attributable to Newmont) in 2011, 6.5 million ounces (5.4 million ounces) in 2010 and 6.5 million ounces (5.2 million ounces) in 2009. Of our 2011 consolidated gold production, approximately 33% came from North America, 22% from South America, 35% from Asia Pacific and 10% from Africa.

For 2011, 2010 and 2009, 88%, 81% and 83%, respectively, of our Sales were attributable to gold. Most of our Sales comes from the sale of refined gold in the international market. The end product at our gold operations, however, is generally doré bars. Doré is an alloy consisting primarily of gold but also containing silver and other metals. Doré is sent to refiners to produce bullion that meets the required market standard of 99.95% gold. Under the terms of our refining agreements, the doré bars are refined for a fee, and our share of the refined gold and the separately-recovered silver is credited to our account or delivered to buyers. Gold sold from Batu Hijau in Indonesia and a portion of the gold from Boddington in Australia, Phoenix in Nevada and Yanacocha in Peru, is sold in a concentrate containing other metals such as copper and silver.

Gold Uses.     Gold generally is used for fabrication or investment. Fabricated gold has a variety of end uses, including jewelry, electronics, dentistry, industrial and decorative uses, medals, medallions and official coins. Gold investors buy gold bullion, official coins and jewelry.

Gold Supply.    A combination of current mine production, recycling and draw-down of existing gold stocks held by governments, financial institutions, industrial organizations and private individuals make up the annual gold supply. Based on public information available for the years 2008 through 2011, on average, current mine production has accounted for approximately 64% of the annual gold supply.

Gold Price.    The following table presents the annual high, low and average daily afternoon fixing prices for gold over the past ten years on the London Bullion Market ($/ounce):

Year	High		Low		Average
2002	$	349	$	278	$	310
2003	$	416	$	320	$	363
2004	$	454	$	375	$	410
2005	$	536	$	411	$	444
2006	$	725	$	525	$	604
2007	$	841	$	608	$	695
2008	$	1,011	$	713	$	872
2009	$	1,213	$	810	$	972
2010	$	1,421	$	1,058	$	1,225
2011	$	1,895	$	1,319	$	1,572
2012 (through February 15, 2012)	$	1,751	$	1,598	$	1,683

Source: Kitco, Reuters and the London Bullion Market Association

On February 15, 2012, the afternoon fixing gold price on the London Bullion Market was $1,733 per ounce and the spot market gold price on the New York Commodity Exchange was $1,726 per ounce.

We generally sell our gold at the prevailing market price during the month in which the gold is delivered to the customer. We recognize revenue from a sale when the price is determinable, the gold has been delivered, the title has been transferred and collection of the sales price is reasonably assured.

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Copper

General.     We had consolidated copper production of 352 million pounds (206 million pounds attributable to Newmont) in 2011, 600 million pounds (327 million pounds) in 2010 and 504 million pounds (227 million pounds) in 2009. Copper production is in the form of saleable concentrate that is sold to smelters for further treatment and refining. For 2011, 2010 and 2009, 12%, 19% and 17%, respectively, of our Sales were attributable to copper.

Copper Uses.     Refined copper is incorporated into wire and cable products for use in the construction, electric utility, communications and transportation industries. Copper is also used in industrial equipment and machinery, consumer products and a variety of other electrical and electronic applications and is also used to make brass. Copper substitutes include aluminum, plastics, stainless steel and fiber optics. Refined, or cathode, copper is also an internationally traded commodity.

Copper Supply.     A combination of current mine production and recycled scrap material make up the annual copper supply.

Copper Price.     The copper price is quoted on the London Metal Exchange in terms of dollars per metric ton of high grade copper. The following table presents the dollar per pound equivalent of the annual high, low and average daily prices of high grade copper on the London Metal Exchange over the past ten years ($/pound):

Year	High		Low		Average
2002	$	0.77	$	0.64	$	0.71
2003	$	1.05	$	0.70	$	0.81
2004	$	1.49	$	1.06	$	1.30
2005	$	2.11	$	1.39	$	1.67
2006	$	3.99	$	2.06	$	3.05
2007	$	3.77	$	2.37	$	3.24
2008	$	4.08	$	1.26	$	3.15
2009	$	3.33	$	1.38	$	2.36
2010	$	4.38	$	2.75	$	3.43
2011	$	4.62	$	3.05	$	4.00
2012 (through February 15, 2012)	$	3.96	$	3.71	$	3.81

Source: London Metal Exchange

On February 15, 2012, the high grade copper closing price on the London Metal Exchange was $3.79 per pound.

We generally sell our copper based on the monthly average market price for the third month following the month in which the delivery to the customer takes place. We recognize revenue from a sale when the price is determinable, the concentrate has been loaded on a vessel, the title has been transferred and collection of the sales price is reasonably assured. For revenue recognition, we use a provisional price based on the average prevailing market price during the two week period prior to completion of vessel loading. The copper concentrate is marked to market through earnings as an adjustment to revenue until final settlement.

Gold and Copper Processing Methods

Gold is extracted from naturally-oxidized ores by either milling or heap leaching, depending on the amount of gold contained in the ore, the amenability of the ore to treatment and related capital and operating costs. Higher grade oxide ores are generally processed through mills, where the ore is ground into a fine powder and mixed with water in slurry, which then passes through a carbon-in-leach

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circuit. Lower grade oxide ores are generally processed using heap leaching. Heap leaching consists of stacking crushed or run-of-mine ore on impermeable pads, where a weak cyanide solution is applied to the surface of the heap to dissolve the gold. In both cases, the gold-bearing solution is then collected and pumped to process facilities to remove the gold by collection on carbon or by zinc precipitation.

Gold contained in ores that are not naturally-oxidized can be directly milled if the gold is amenable to cyanidation, generally known as free milling sulfide ores. Ores that are not amenable to cyanidation, known as refractory ores, require more costly and complex processing techniques than oxide or free milling ore. Higher grade refractory ores are processed through either roasters or autoclaves. Roasters heat finely ground ore to a high temperature, burn off the carbon and oxidize the sulfide minerals that prevent efficient leaching. Autoclaves use heat, oxygen and pressure to oxidize sulfide ores.

Some sulfide ores may be processed through a flotation plant or by bio-milling. In flotation, ore is finely ground, turned into slurry, then placed in a tank known as a flotation cell. Chemicals are added to the slurry causing the gold-containing sulfides to attach to air bubbles and float to the top of the tank. The sulfides are removed from the cell and converted into a concentrate that can then be processed in an autoclave or roaster to recover the gold. Bio-milling incorporates patented technology that involves inoculation of suitable crushed ore on a leach pad with naturally occurring bacteria strains, which oxidize the sulfides over a period of time. The ore is then processed through an oxide mill.

At Batu Hijau, ore containing copper and gold is crushed to a coarse size at the mine and then transported from the mine via conveyor to a concentrator, where it is finely ground and then treated by successive stages of flotation, resulting in a concentrate containing approximately 26% to 31% copper. The concentrate is dewatered and stored for loading onto ships for transport to smelters.

At Boddington, ore containing copper and gold is crushed to a coarse size at the mine and then transported via conveyor to a process plant, where it is further crushed and then finely ground as a slurry. The ore is initially treated by flotation which produces a copper/gold concentrate containing approximately 20% copper. Flotation concentrates are processed via a gravity circuit to recover fine liberated gold and then dewatered and stored for loading onto ships for transport to smelters. The flotation tailing has a residual gold content that is recovered in a carbon-in-leach circuit.

Hedging Activities

Our strategy is to provide shareholders with leverage to changes in gold and copper prices by selling our gold and copper at current market prices and consequently, we do not hedge our gold and copper sales. We continue to manage certain risks associated with commodity input costs, treasury rates and foreign currencies using the derivative market.

For additional information, see Hedging in Item 7A, Quantitative and Qualitative Disclosures about Market Risk, and Note 17 to the Consolidated Financial Statements.

Gold and Copper Reserves

At December 31, 2011, we had 98.8 million ounces of proven and probable gold reserves attributable to Newmont. We added 11.6 million ounces to proven and probable reserves, and depleted 6.3 million ounces during 2011. 2011 reserves were calculated at a gold price assumption of $1,200,

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A$1,250 or NZ$1,600 per ounce. A reconciliation of the changes in proven and probable gold reserves during the past three years is as follows:

	2011			2010			2009
		(millions of ounces)
Opening balance		93.5			91.8			85.0
Depletion		(6.3	)		(6.5	)		(6.8	)
Additions(1)		11.6			8.2			6.4
Acquisitions(2)		—			0.3			8.2
Divestments(3)		—			(0.3	)		(1.0	)
Closing balance		98.8			93.5			91.8

A reconciliation of the changes in proven and probable gold reserves for 2011 by region is as follows:

	North America			South America			Asia Pacific			Africa
		(millions of ounces)
Opening balance		33.5			11.4			31.4			17.2
Depletion		(2.7	)		(0.9	)		(2.1	)		(0.6	)
Additions		6.2			0.3			2.2			2.9
Closing balance		37.0			10.8			31.5			19.5

⁽¹⁾  The impact of the change in gold price assumption on reserve additions was approximately 3.3 million, 1.7 million and 1.7 million ounces in 2011, 2010 and 2009, respectively. The gold price assumption was $1,200 per ounce in 2011, $950 per ounce in 2010 and $800 per ounce in 2009.

⁽²⁾  In 2010, we recognized our attributable interest in Regis Resources Ltd. and their reserves in the Duketon belt of Western Australia for an attributable reserve of 0.3 million ounces. In 2009, reserves were increased by 6.7 million ounces through the acquisition of the remaining 33.33% interest in Boddington. At December 31, 2009, our economic interest in Batu Hijau increased to 52.44% as a result of transactions with a noncontrolling partner, increasing reserves by 1.5 million ounces.

⁽³⁾  In April 2010, our direct ownership interest in Batu Hijau decreased from 35.44% to 31.5% (economic interest decreased from 52.44% to 48.50%) as a result of the divestiture required under the Contract of Work. In November and December 2009, our direct ownership interest in Batu Hijau decreased from 45% to 35.44% as a result of the divestiture required under the Contract of Work. In July 2009 we sold the Kori Kollo operation in Bolivia.

At December 31, 2011, we had 9,720 million pounds of proven and probable copper reserves. We added 630 million pounds to proven and probable reserves and depleted 330 million pounds during 2011. 2011 reserves were calculated at a copper price of $3.00 or A$3.15 per pound. A reconciliation of the changes in proven and probable copper reserves during the past three years is as follows:

	2011			2010			2009
	(millions of pounds)
Opening balance		9,420			9,120			7,780
Depletion		(330	)		(370	)		(310	)
Additions(1)		630			1,000			400
Acquisitions(2)		—			—			2,040
Divestments(3)		—			(330	)		(790	)
Closing balance		9,720			9,420			9,120

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A reconciliation of changes in proven and probable copper reserves for 2011 by region is as follows:

	North America			South America		Asia Pacific
	(millions of pounds)
Opening balance		1,640			1,660		6,120
Depletion		(50	)		—		(280	)
Additions		450			30		150
Closing balance		2,040			1,690		5,990

⁽¹⁾  The impact of the change in copper price assumption on reserve additions was 370 million, 150 million and 290 million pounds in 2011, 2010 and 2009, respectively. The copper price assumption was $3.00 per pound in 2011, $2.50 per pound in 2010 and $2.00 per pound in 2009.

⁽²⁾  In 2009, reserves were increased by 640 million pounds through the acquisition of the remaining 33.33% interest in Boddington. At December 31, 2009, our economic interest in Batu Hijau increased to 52.44% as a result of transactions with a noncontrolling partner, increasing reserves by 1,400 million pounds.

⁽³⁾  In April 2010, our direct ownership interest in Batu Hijau decreased from 35.44% to 31.5% (economic interest decreased from 52.44% to 48.50%) as a result of the divestiture required under the Contract of Work. In November and December 2009, our direct ownership interest in Batu Hijau decreased from 45% to 35.44% as a result of the divestiture required under the Contract of Work.

Our exploration efforts are directed to the discovery of new mineralized material and converting it into proven and probable reserves. We conduct near-mine exploration around our existing mines and greenfields exploration in other regions globally. Near-mine exploration can result in the discovery of additional deposits, which may receive the economic benefit of existing operating, processing, and administrative infrastructures. In contrast, the discovery of mineralization through greenfields exploration efforts will likely require capital investment to build a stand-alone operation. Our Exploration expense was $350, $218 and $187 in 2011, 2010 and 2009, respectively.

For additional information, see Item 2, Properties, Proven and Probable Reserves.

Licenses and Concessions

Other than operating licenses for our mining and processing facilities, there are no third party patents, licenses or franchises material to our business. In many countries, however, we conduct our mining and exploration activities pursuant to concessions granted by, or under contract with, the host government. These countries include, among others, Australia, Canada, Ghana, Indonesia, Mexico, New Zealand, Peru and Suriname. The concessions and contracts are subject to the political risks associated with foreign operations. See Item 1A, Risk Factors, below. For a more detailed description of our Indonesian Contract of Work, see Item 2, Properties, below.

Condition of Physical Assets and Insurance

Our business is capital intensive and requires ongoing capital investment for the replacement, modernization or expansion of equipment and facilities. For more information, see Item 7, Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations, Liquidity and Capital Resources, below.

We maintain insurance policies against property loss and business interruption and insure against risks that are typical in the operation of our business, in amounts that we believe to be reasonable. Such insurance, however, contains exclusions and limitations on coverage, particularly with respect to

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environmental liability and political risk. There can be no assurance that claims would be paid under such insurance policies in connection with a particular event. See Item 1A, Risk Factors, below.

Environmental Matters

Our United States mining and exploration activities are subject to various federal and state laws and regulations governing the protection of the environment, including the Clean Air Act; the Clean Water Act; the Comprehensive Environmental Response, Compensation and Liability Act; the Emergency Planning and Community Right-to-Know Act; the Endangered Species Act; the Federal Land Policy and Management Act; the National Environmental Policy Act; the Resource Conservation and Recovery Act; and related state laws. These laws and regulations are continually changing and are generally becoming more restrictive. Our activities outside the United States are also subject to governmental regulations for the protection of the environment.

We conduct our operations so as to protect public health and the environment and believe our operations are in compliance with applicable laws and regulations in all material respects. Each operating mine has a reclamation plan in place that meets all applicable legal and regulatory requirements. At December 31, 2011, $1,070 was accrued for reclamation costs relating to current or recently producing properties.

We are involved in several matters concerning environmental obligations associated with former, primarily historic, mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites. Based upon our best estimate of our liability for these matters, $170 was accrued at December 31, 2011 for such obligations associated with properties previously owned or operated by us or our subsidiaries. The amounts accrued for these matters are reviewed periodically based upon facts and circumstances available at the time.

For a discussion of the most significant reclamation and remediation activities, see Item 7, Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations, and Notes 4 and 31 to the Consolidated Financial Statements, below.

In addition to legal and regulatory compliance, we have developed complementary programs to guide our company toward achieving transparent and sustainable environmental and socially responsible performance objectives. Evidencing our management’s commitment towards these objectives, our corporate headquarters are located in an environmentally sustainable, LEED, gold-certified building. We are committed to managing climate change related risks and responsibly managing our greenhouse gas emissions. We have reported our greenhouse gas emissions annually to the Carbon Disclosure Project since 2004, became a Founding Reporter on The Climate Registry in 2008, and by 2010, established programs to publically report our independently-verified greenhouse gas emissions for all of our global operations. We actively participate in the International Council on Mining and Metals (“ICMM”) and are committed to the ICMM’s 10 Principles of Sustainable Development and its commitment to implement the UN Global Compact’s 10 principles on human rights, bribery and corruption, labor and the environment. To ensure sound environmental management systems, 100% of Newmont’s operations have achieved ISO 14001 certification by year-end 2011. We transparently report on our sustainability performance in accordance with the Global Reporting Initiative guidelines, including the Mining and Metals Sector Supplement. As a result of our efforts, we continue to achieve milestones, such as being the first gold company listed on the Dow Jones Sustainability Index World (“DJSI”), remaining a member of the DJSI World Index for five consecutive years, and receiving International Cyanide Management Code certification at 100% of Newmont operated sites as of the end of 2011.

Employees and Contractors

Approximately 17,100 people were employed by Newmont at December 31, 2011. In addition, approximately 25,800 people were working as contractors in support of Newmont’s operations.

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Forward-Looking Statements

Certain statements contained in this report (including information incorporated by reference) are “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, and are intended to be covered by the safe harbor provided for under these sections. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)”, “estimate(s)”, “should”, “intend(s)” and similar expressions are intended to identify forward-looking statements. Our forward-looking statements may include, without limitation:

• Estimates regarding future earnings and the sensitivity of earnings to gold and other metal prices;

• Estimates of future mineral production and sales;

• Estimates of future production costs, other expenses and taxes for specific operations and on a consolidated basis;

• Estimates of future cash flows and the sensitivity of cash flows to gold and other metal prices;

• Estimates of future capital expenditures, construction, production or closure activities and other cash needs, for specific operations and on a consolidated basis, and expectations as to the funding or timing thereof;

• Estimates as to the projected development of certain ore deposits, including the timing of such development, the costs of such development and other capital costs, financing plans for these deposits and expected production commencement dates;

• Estimates of reserves and statements regarding future exploration results and reserve replacement and the sensitivity of reserves to metal price changes;

• Statements regarding the availability of, and terms and costs related to, future borrowing, debt repayment and financing;

• Estimates regarding future exploration expenditures, results and reserves;

• Statements regarding fluctuations in financial and currency markets;

• Estimates regarding potential cost savings, productivity, operating performance and ownership and cost structures;

• Expectations regarding the completion and timing of acquisitions or divestitures and projected synergies and costs associated with acquisitions;

• Expectations regarding the start-up time, design, mine life, production and costs applicable to sales and exploration potential of our projects;

• Statements regarding modifications to hedge and derivative positions;

• Statements regarding political, economic or governmental conditions and environments;

• Statements regarding future transactions;

• Statements regarding the impacts of changes in the legal and regulatory environment in which we operate;

• Estimates of future costs and other liabilities for certain environmental matters;

• Estimates of income taxes; and

• Estimates of pension and other post-retirement costs.

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Where we express 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, our 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 those forward-looking statements. Such risks include, but are not limited to:

• The price of gold, copper and other commodities;

• The cost of operations;

• Currency fluctuations;

• Geological and metallurgical assumptions;

• Operating performance of equipment, processes and facilities;

• Labor relations;

• Timing of receipt of necessary governmental permits or approvals;

• Domestic and foreign laws or regulations, particularly relating to the environment and mining;

• Changes in tax laws;

• Domestic and international economic and political conditions;

• Our ability to obtain or maintain necessary financing; and

• Other risks and hazards associated with mining operations.

More detailed information regarding these factors is included in Item 1, Business, Item 1A, Risk Factors, and elsewhere throughout this report. Given these uncertainties, readers are cautioned not to place undue reliance on our forward-looking statements.

All subsequent written and oral forward-looking statements attributable to Newmont or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. We disclaim any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Available Information

Newmont maintains an internet web site at www.newmont.com. Newmont makes available, free of charge, through the Investor Relations section of the web site, its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, Section 16 filings and all amendments to those reports, as soon as reasonably practicable after such material is electronically filed with the Securities and Exchange Commission. Certain other information, including Newmont’s Corporate Governance Guidelines, the charters of key committees of its Board of Directors and its Code of Business Ethics and Conduct are also available on the web site.

ITEM 1A.  RISK FACTORS (dollars in millions except per share, per ounce and per pound amounts)

Our business activities are subject to significant risks, including those described below. Every investor or potential investor in our securities should carefully consider these risks. If any of the described risks actually occurs, our business, financial position and results of operations could be materially adversely affected. Such risks are not the only ones we face and additional risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our business.

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A substantial or extended decline in gold or copper prices would have a material adverse effect on Newmont.

Our business is dependent on the prices of gold and copper, which fluctuate on a daily basis and are affected by numerous factors beyond our control. Factors tending to influence prices include:

• gold sales or leasing by governments and central banks or changes in their monetary policy, including gold inventory management and reallocation of reserves;

• speculative short positions taken by significant investors or traders in gold or copper;

• the relative strength of the U.S. dollar;

• expectations of the future rate of inflation;

• interest rates;

• recession or reduced economic activity in the United States, China, India and other industrialized or developing countries;

• decreased industrial, jewelry or investment demand;

• increased supply from production, disinvestment and scrap;

• forward sales by producers in hedging or similar transactions; and

• availability of cheaper substitute materials.

Any decline in our realized gold or copper price adversely impacts our revenues, net income and operating cash flows, particularly in light of our strategy of not engaging in hedging transactions with respect to gold or copper. We have recorded asset write-downs in the past and may experience additional write-downs as a result of lower gold or copper prices in the future.

In addition, sustained lower gold or copper prices can:

• reduce revenues further through production declines due to cessation of the mining of deposits, or portions of deposits, that have become uneconomic at prevailing gold or copper prices;

• reduce or eliminate the profit that we currently expect from ore stockpiles and ore on leach pads;

• halt or delay the development of new projects;

• reduce funds available for exploration with the result that depleted reserves may not be replaced; and

• reduce existing reserves by removing ores from reserves that can no longer be economically processed at prevailing prices.

Also see the discussion in Item 1, Business, Gold or Copper Price.

We may be unable to replace gold and copper reserves as they become depleted.

Gold and copper producers must continually replace reserves depleted by production to maintain production levels over the long term and provide a return on invested capital. Depleted reserves can be replaced in several ways, including by expanding known ore bodies, by locating new deposits, or by acquiring interests in reserves from third parties. Exploration is highly speculative in nature, involves many risks and frequently is unproductive. Our current or future exploration programs may not result in new mineral producing operations. Even if significant mineralization is discovered, it will likely take many years from the initial phases of exploration until commencement of production, during which time the economic feasibility of production may change.

We may consider, from time to time, the acquisition of ore reserves related to development properties and operating mines. Such acquisitions are typically based on an analysis of a variety of factors including historical operating results, estimates of and assumptions regarding the extent of ore reserves, the timing of production from such reserves and cash and other operating costs. Other factors that affect our decision to make any such acquisitions may also include our assumptions for

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future gold or copper prices or other mineral prices and the projected economic returns and evaluations of existing or potential liabilities associated with the property and its operations and projections of how these may change in the future. In addition, in connection with future acquisitions we may rely on data and reports prepared by third parties and which may contain information or data that we are unable to independently verify or confirm. Other than historical operating results, all of these factors are uncertain and may have an impact on our revenue, our cash and other operating issues, as well as contributing to the uncertainties related to the process used to estimate ore reserves. In addition, there may be intense competition for the acquisition of attractive mining properties.

As a result of these uncertainties, our exploration programs and any acquisitions which we may pursue may not result in the expansion or replacement of our current production with new ore reserves or operations, which could have a material adverse effect on our business, prospects, results of operations and financial position.

Estimates of proven and probable reserves and non reserve mineralization are uncertain and the volume and grade of ore actually recovered may vary from our estimates.

The reserves stated in this report represent the amount of gold and copper that we estimated, at December 31, 2011, could be economically and legally extracted or produced at the time of the reserve determination. Estimates of proven and probable reserves are subject to considerable uncertainty. Such estimates are, to a large extent, based on the prices of gold and copper and interpretations of geologic data obtained from drill holes and other exploration techniques. Producers use feasibility studies to derive estimates of capital and operating costs based upon anticipated tonnage and grades of ore to be mined and processed, the predicted configuration of the ore body, expected recovery rates of metals from the ore, the costs of comparable facilities, the costs of operating and processing equipment and other factors. Actual operating costs and economic returns on projects may differ significantly from original estimates. Further, it may take many years from the initial phases of exploration until commencement of production, during which time, the economic feasibility of production may change.

In addition, if the price of gold or copper declines from recent levels, if production costs increase or recovery rates decrease or if applicable laws and regulations are adversely changed, we can offer no assurance that the indicated level of recovery will be realized or that mineral reserves as currently reported can be mined or processed profitably. If we determine that certain of our ore reserves have become uneconomic, this may ultimately lead to a reduction in our aggregate reported reserves. Consequently, if our actual mineral reserves and resources are less than current estimates, our business, prospects, results of operations and financial position may be materially impaired.

Increased operating costs could affect our profitability.

Costs at any particular mining location are subject to variation due to a number of factors, such as changing ore grade, changing metallurgy and revisions to mine plans in response to the physical shape and location of the ore body. In addition, costs are affected by the price of input commodities, such as fuel, electricity, labor, chemical reagents, explosives, steel and concrete. Commodity costs are, at times, subject to volatile price movements, including increases that could make production at certain operations less profitable. Further, changes in laws and regulations can affect commodity prices, uses and transport. Reported costs may also be affected by changes in accounting standards. A material increase in costs at any significant location could have a significant effect on our profitability and operating cash flow.

We could have significant increases in capital and operating costs over the next several years in connection with the development of new projects in challenging jurisdictions and in sustaining existing operations. Costs associated with capital expenditures have escalated on an industry-wide basis over the last several years, as a result of factors beyond our control, including the prices of oil, steel and

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other commodities and labor. Increased costs for capital expenditures may have an adverse effect on the profitability of existing operations and economic returns anticipated from new projects.

Estimates relating to new development projects are uncertain and we may incur higher costs and lower economic returns than estimated.

Mine development projects typically require a number of years and significant expenditures during the development phase before production is possible. Such projects could experience unexpected problems and delays during development, construction and mine start-up.

Our decision to develop a project is typically based on the results of feasibility studies, which estimate the anticipated economic returns of a project. The actual project profitability or economic feasibility may differ from such estimates as a result of any of the following factors, among others:

• changes in tonnage, grades and metallurgical characteristics of ore to be mined and processed;

• higher input commodity and labor costs;

• the quality of the data on which engineering assumptions were made;

• adverse geotechnical conditions;

• availability of adequate and skilled labor force and supply and cost of water and power;

• fluctuations in inflation and currency exchange rates;

• availability and terms of financing;

• delays in obtaining environmental or other government permits or approvals or changes in the laws and regulations related to our operations or project development;

• changes in tax laws;

• weather or severe climate impacts; and

• potential delays relating to social and community issues, including, without limitation, issues resulting in protests, road blockages or work stoppages.

Our future development activities may not result in the expansion or replacement of current production with new production, or one or more of these new production sites or facilities may be less profitable than currently anticipated or may not be profitable at all, any of which could have a material adverse effect on our results of operations and financial position.

We may experience increased costs or losses resulting from the hazards and uncertainties associated with mining.

The exploration for natural resources and the development and production of mining operations are activities that involve a high level of uncertainty. These can be difficult to predict and are often affected by risks and hazards outside of our control. These factors include, but are not limited to:

• environmental hazards, including discharge of metals, pollutants or hazardous chemicals;

• industrial accidents, including in connection with the operation of mining transportation equipment and accidents associated with the preparation and ignition of large-scale blasting operations, milling equipment and conveyor systems;

• underground fires or floods;

• unexpected geological formations or conditions (whether in mineral or gaseous form);

• ground and water conditions;

• fall-of-ground accidents in underground operations;

• failure of mining pit slopes and tailings dam walls;

• seismic activity; and

• other natural phenomena, such as lightning, cyclonic or tropical storms, floods or other inclement weather conditions.

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The occurrence of one or more of these events in connection with our exploration activities and development and production of mining operations may result in the death of, or personal injury to, our employees, other personnel or third parties, the loss of mining equipment, damage to or destruction of mineral properties or production facilities, monetary losses, deferral or unanticipated fluctuations in production, environmental damage and potential legal liabilities, all of which may adversely affect our reputation, business, prospects, results of operations and financial position.

Shortages of critical parts and equipment may adversely affect our operations and development projects.

The mining industry has been impacted by increased demand for critical resources such as input commodities, drilling equipment and tires. These shortages have, at times, impacted the efficiency of our operations, and resulted in cost increases and delays in construction of projects; thereby impacting operating costs, capital expenditures and production and construction schedules.

Mining companies are increasingly required to consider and provide benefits to the communities and countries in which they operate, and are subject to extensive environmental, health and safety laws and regulations.

As a result of public concern about the real or perceived detrimental effects of economic globalization and global climate impacts, businesses generally and large multinational corporations in natural resources industries, such as Newmont, in particular, face increasing public scrutiny of their activities. These businesses are under pressure to demonstrate that, as they seek to generate satisfactory returns on investment to shareholders, other stakeholders, including employees, governments, communities surrounding operations and the countries in which they operate, benefit and will continue to benefit from their commercial activities. Such pressures tend to be particularly focused on companies whose activities are perceived to have a high impact on their social and physical environment. The potential consequences of these pressures include reputational damage, legal suits and social investment obligations.

In addition, our ability to successfully obtain key permits and approvals to explore for, develop and operate mines and to successfully operate in communities around the world will likely depend on our ability to develop, operate and close mines in a manner that is consistent with the creation of social and economic benefits in the surrounding communities, which may or may not be required by law. Our ability to obtain permits and approvals and to successfully operate in particular communities may be adversely impacted by real or perceived detrimental events associated with our activities or those of other mining companies affecting the environment, human health and safety of communities in which we operate. Delays in obtaining or failure to obtain government permits and approvals may adversely affect our operations, including our ability to explore or develop properties, commence production or continue operations. Key permits and approvals may be revoked or suspended or may be varied in a manner that adversely affects our operations, including our ability to explore or develop properties, commence production or continue operations.

Our exploration, development, mining and processing operations are subject to extensive laws and regulations governing worker health and safety and land use and the protection of the environment, which generally apply to air and water quality, protection of endangered, protected or other specified species, hazardous waste management and reclamation. Some of the countries in which we operate have implemented, and are developing, laws and regulations related to climate change and greenhouse gas emissions. We have made, and expect to make in the future, significant expenditures to comply with such laws and regulations. Compliance with these laws and regulations imposes substantial costs and burdens, and can cause delays in obtaining, or failure to obtain, government permits and approvals which may adversely impact our closure processes and operations.

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Future changes in applicable laws, regulations, permits and approvals or changes in their enforcement or regulatory interpretation could substantially increase costs to achieve compliance, lead to the revocation of existing or future exploration or mining rights or otherwise have an adverse impact on our results of operations and financial position. For instance, the operation of our mines in the United States is subject to regulation by the Federal Mine Safety and Health Administration (“MSHA”) under the Federal Mine Safety and Health Act of 1977 (the “Mine Act”). MSHA inspects our mines on a regular basis and issues various citations and orders when it believes a violation has occurred under the Mine Act. If such inspections result in an alleged violation, we may be subject to fines, penalties or sanctions and our mining operations could be subject to temporary or extended closures, which could have an adverse effect on our results of operations and financial position. Over the past several years MSHA has significantly increased the numbers of citations and orders charged against mining operations and increased the dollar penalties assessed for citations issued.

In addition, the United States Environmental Protection Agency (“EPA”) is currently seeking to regulate as hazardous waste under the Resource Conservation and Recovery Act (“RCRA”) process solution streams derived from core beneficiation operations, such as our roasting operations, in Nevada. Historically, such streams have been considered exempt from RCRA and have been regulated by the Nevada Division of Environmental Protection. The regulation of these streams as hazardous waste under RCRA could subject us to civil and criminal penalties for past practices and require us to incur substantial future costs to modify our waste water collection systems and retrofit our tailings storage facilities at our Nevada mining operations, which could have an adverse effect on our results of operations and financial position.

Increased global attention or regulation on water quality discharge, such as recently enacted water quality legislation applicable to our operations in Peru, and on restricting or prohibiting the use of cyanide and other hazardous substances in processing activities could similarly have an adverse impact on our results of operations and financial position due to increased compliance and input costs.

We have implemented a management system designed to promote continuous improvement in health and safety, environmental performance and community relations. However, our ability to operate, and thus, our results of operations and our financial position, could be adversely affected by accidents or events detrimental (or perceived to be detrimental) to the health and safety of our employees, the environment or the communities in which we operate.

Mine closure and remediation costs for environmental liabilities may exceed the provisions we have made.

Natural resource companies are required to close their operations and rehabilitate the lands that they mine in accordance with a variety of environmental laws and regulations. Estimates of the total ultimate closure and rehabilitation costs for gold and copper mining operations are significant and based principally on current legal and regulatory requirements and mine closure plans that may change materially. For example, we have conducted extensive remediation work at two inactive sites in the United States. We are conducting remediation activities at a third site in the United States, an inactive uranium mine and mill site formerly operated by a subsidiary of Newmont.

Any underestimated or unanticipated rehabilitation costs could materially affect our financial position, results of operations and cash flows. Environmental liabilities are accrued when they become known, are probable and can be reasonably estimated. Whenever a previously unrecognized remediation liability becomes known, or a previously estimated reclamation cost is increased, the amount of that liability and additional cost will be recorded at that time and could materially reduce our consolidated net income attributable to Newmont stockholders in the related period. In addition, regulators are increasingly requesting security in the form of cash collateral, credit, trust arrangements or guarantees to secure the performance of environmental obligations, which could have an adverse

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effect on our financial position. For a more detailed discussion of potential environmental liabilities, see the discussion in Environmental Matters, Note 31 to the Consolidated Financial Statements.

The laws and regulations governing mine closure and remediation in a particular jurisdiction are subject to review at any time and may be amended to impose additional requirements and conditions which may cause our provisions for environmental liabilities to be underestimated and could materially affect our financial position or results of operations.

Regulations and pending legislation governing issues involving climate change could result in increased operating costs which could have a material adverse effect on our business.

Producing gold is an energy-intensive business, resulting in a significant carbon footprint. Energy costs account for about a quarter of our overall operating costs, with our principal energy sources being purchased electricity, diesel fuel, gasoline, natural gas and coal.

A number of governments or governmental bodies have introduced or are contemplating regulatory changes in response to the potential impacts of climate change that are viewed as the result of emissions from the combustion of carbon-based fuels. The December 1997 Kyoto Protocol, which ends in 2012, established a set of greenhouse gas emission reduction targets for developed countries that have ratified the Protocol, which include Australia and New Zealand. The United States signed but never ratified the Protocol and Canada recently pulled out of the Protocol. Ghana, Indonesia, and Peru ratified the Protocol but as developing countries are not subject to greenhouse gas emission reductions. The Conference of Parties 15 (“COP15”) of the United Nations Framework Convention on Climate Change held in Copenhagen, Denmark in December 2009 was to determine the path forward after the Kyoto Protocol ends. COP15 resulted in the Copenhagen Accord (the “Accord”), a non-binding document calling for economy-wide emissions targets for 2020. Prior to the January 31, 2010 deadline, the United States, Australia, New Zealand, Indonesia, Ghana and Peru re-affirmed their commitment to the Accord.

Some of the countries in which we operate have implemented, and are developing, laws and regulations related to climate change and greenhouse gas emissions. In December 2009, the EPA issued an endangerment finding under the U.S. Clean Air Act that current and projected concentrations of certain mixed greenhouse gases, including carbon dioxide, in the atmosphere threaten the public health and welfare. Regulations have been adopted and additional laws or regulations may be promulgated in the United States to address the concerns raised by such endangerment finding. To date, U.S. regulations do not impose carbon tax on our operations but may in the future. Australia passed the Clean Energy Act in 2011 that sets up a mechanism to combat climate change by imposing a “carbon tax” on greenhouse gas emissions and encourages investment in clean energy. The legislation takes effect on July 1, 2012 and will have an impact to our Australian operations of $30 - $40 million annually.

Non-governmental climate change requirements are beginning to be implemented. For example, Hope Bay is required to comply with the Mining Association of Canada’s Toward Sustainable Mining initiative to reduce energy consumption and greenhouse gas emissions and Conga is required to comply with International Finance Corporation Performance Standards to report and reduce greenhouse gas emissions. This is a trend that is likely to continue.

Legislation and increased regulation and requirements regarding climate change could impose increased costs on us, our venture partners and our suppliers, including increased energy, capital equipment, environmental monitoring and reporting and other costs to comply with such regulations. Until the timing, scope and extent of any future requirements becomes known, we cannot predict the effect on our financial condition, financial position, results of operations and ability to compete.

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The potential physical impacts of climate change on our operations are highly uncertain, and would be particular to the geographic circumstances in areas in which we operate. These may include changes in rainfall and storm patterns and intensities, water shortages, changing sea levels and changing temperatures. These impacts may adversely impact the cost, production and financial performance of our operations.

Our operations are subject to risks of doing business.

Exploration, development, production and mine closure activities are subject to regional, political, economic, community and other risks of doing business, including:

• disadvantages of competing against companies from countries that are not subject to the rigorous laws and regulations of the U.S. or other jurisdictions, including the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act;

• changes in laws or regulations;

• royalty and tax increases or claims, including retroactive increases and claims and requests to renegotiate terms of existing royalties and taxes, by governmental entities, including such increases, claims and/or requests by the governments of Ghana, Indonesia, Australia, Peru, the United States and the State of Nevada;

• increases in training and other costs and challenges relating to requirements by governmental entities to employ the nationals of the country in which a particular operation is located;

• delays in obtaining or renewing, or the inability to obtain, maintain or renew, necessary governmental permits and approvals;

• claims for increased mineral royalties or ownership interests by local or indigenous communities;

• expropriation or nationalization of property;

• currency fluctuations, particularly in countries with high inflation;

• foreign exchange controls;

• restrictions on the ability of local operating companies to sell gold offshore for U.S. dollars, or on the ability of such companies to hold U.S. dollars or other foreign currencies in offshore bank accounts;

• import and export regulations, including restrictions on the export of gold;

• increases in costs relating to, or restrictions or prohibitions on, the use of ports for concentrate storage and shipping, such as in relation to our Boddington and Batu Hijau operations where use of alternative ports is not currently economically feasible or in relation to our ability to procure economically feasible ports for developing projects;

• restrictions on the ability to pay dividends offshore or to otherwise repatriate funds;

• risk of loss due to civil strife, acts of war, guerrilla activities, insurrection and terrorism;

• risk of loss due to criminal activities such as trespass, illegal mining, theft and vandalism;

• risk of loss due to disease and other potential endemic health issues;

• disadvantages relating to submission to the jurisdiction of foreign courts or arbitration panels or enforcement or appeals of judgments at foreign courts or arbitration panels against a sovereign nation within its own territory; and

• other risks arising out of foreign sovereignty over the areas in which our operations are conducted, including risks inherent in contracts with government owned entities such as unilateral cancellation or renegotiation of contracts, licenses or other mining rights.

Consequently, our exploration, development and production activities may be affected by these and other factors, many of which are beyond our control, some of which could materially adversely affect our financial position or results of operations.

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Our Batu Hijau operation in Indonesia is subject to political and economic risks.

We have a substantial investment in Indonesia, a nation that since 1997 has undergone financial crises and devaluation of its currency, outbreaks of political and religious violence and acts of terrorism, changes in national leadership, devolution of authority to regional governments, and the secession of East Timor, one of its former provinces. These factors heighten the risk of abrupt changes in the national policy toward foreign investors, which in turn could result in unilateral modification of concessions or contracts, increased taxation and royalties (at both the national and regional level), denial of permits or permit renewals or expropriation of assets. In regard to issues of resource nationalism, certain government officials and members of parliament may have a preference for national mining companies to own Indonesia’s mineral assets and the government has advocated policies intended to result in development of additional in-country processing of minerals mined in Indonesia and restrictions on exportation including the smelting and exportation of copper concentrates.

Violence committed by radical elements in Indonesia and other countries and the presence of U.S. forces in Afghanistan, as well as U.S. involvement in other conflicts in the Middle East, may increase the risk that operations owned by U.S. companies will be the target of violence. If our Batu Hijau operation were so targeted it could have an adverse effect on our business.

Our Batu Hijau operation faced demonstrations by the local community in 2011 relating to a worker recruitment process, including protests and roadblocks. We cannot predict whether similar or more significant incidents will occur and the recurrence of significant opposition from the local community could disrupt mining activities and, thereby, adversely affect Batu Hijau’s assets and operations. Batu Hijau also faced a temporary work stoppage in 2011 arising from a dispute regarding overtime pay, and the operation’s collective bargaining agreement with the workforce is subject to renewal later this year. Indonesia has seen greater worker and union activism in recent times, and a strike or protracted labor agreement negotiation could adversely affect Batu Hijau’s operations.

Over the years, we are required to apply for renewals of certain key permits related to Batu Hijau. PT Newmont Nusa Tenggara (“PTNNT”), the entity operating Batu Hijau, employs a submarine tailings placement (“STP”) system. The STP system is operated pursuant to a permit from the government of Indonesia that was renewed in 2011, but is subject to challenge in connection with certain legal proceedings. See Note 31 to the Consolidated Financial Statements for a more detailed discussion of pending litigation. A loss of the STP permit would be expected to adversely impact Batu Hijau operations and may adversely impact our future operating and financial results.

Our ownership interest in Batu Hijau has been reduced in accordance with the Contract of Work issued by the Indonesian Government and future reductions in our interest in PTNNT may result in our loss of control over the Batu Hijau operations.

We currently have a 31.5% direct ownership interest in PTNNT, held through Nusa Tenggara Partnership B.V. (“NTPBV”), which is owned with an affiliate of Sumitomo Corporation of Japan (“Sumitomo”). We have a 56.25% interest in NTPBV and a Sumitomo affiliate holds the remaining 43.75%. NTPBV in turn owns 56% of PTNNT, the Indonesian subsidiary that owns Batu Hijau. In December 2009, Newmont entered into a transaction with P.T. Pukuafu Indah (“PTPI”), an unrelated non-controlling shareholder in PTNNT, whereby we agreed to advance certain funds to PTPI in exchange for (i) a pledge of PTPI’s 20% shareholding in PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, (iii) a commitment to support the application of our standards to the operation of the Batu Hijau mine, and (iv) as of September 16, 2011, powers of attorney to vote and sell the PTNNT shares in support of the pledge, enforceable in an event of default as further security for the funding. On June 25, 2010, to effectuate PTPI’s desire to sell the shares, PTPI completed the sale of approximately a 2.2% interest in PTNNT to PT Indonesia Masbaga Investama (“PTIMI”), and Newmont entered into a transaction with PTIMI whereby we agreed to

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advance certain funds to PTIMI in exchange for (i) a pledge of PTIMI’s 2.2% shareholding in PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, and (iii) a commitment to support the application of our standards to the operation of the Batu Hijau mine. Under the terms of the transaction, the Company has no powers of attorney or other right to vote PTIMI’s shares. Based on the above transactions, Newmont recognizes an additional 17% effective economic interest in PTNNT. Combined with Newmont’s 56.25% ownership in NTPBV, Newmont has a 48.5% effective economic interest in PTNNT and continues to consolidate Batu Hijau in its Consolidated Financial Statements.

Under the Contract of Work executed in 1986 between the Indonesian government and PTNNT (the “Contract of Work”), 51% of PTNNT’s shares were required to be offered for sale, first, to the Indonesian government or, second, to Indonesian nationals by March 31, 2010. On May 6, 2011 we announced that a definitive agreement was signed with an agency of the Indonesian Government’s Ministry of Finance for the sale of the final 7% divestiture stake in PTNNT. Subsequently, a dispute over the legality of the purchase under relevant laws and regulations has arisen between certain members of parliament and the Ministry of Finance, and the transaction has not yet closed. Upon closing of the transaction, our ownership interest in the Batu Hijau mine’s production, assets and proven and probable equity reserves will be reduced to a 27.56% direct ownership interest as NTPBV’s ownership interest in PTNNT will be reduced to 49%, thus potentially reducing our ability to control the operation at Batu Hijau. In addition, we will have a 17% effective economic interest in PTNNT following the closing of the transaction through financing arrangements with existing shareholders, and we have identified Variable Interest Entities in connection with our economic interests in PTNNT due to certain funding arrangements and shareholder commitments. Therefore, we expect to continue to consolidate PTNNT in our Consolidated Financial Statements after the final 7% sale is completed. Loss of control over PTNNT operations may result in our deconsolidation of PTNNT for accounting purposes, which would reduce our reported consolidated sales, total assets and operating cash flows. See Note 31 to the Consolidated Financial Statements for more information about the PTNNT share divestiture.

As part of the negotiation of the divestiture share sale agreements with PT Multi Daerah Bersaing (“PTMDB”), the nominee of the local governments, the parties executed an operating agreement (the “Operating Agreement”), under which each recognizes the rights of Newmont and Sumitomo to apply their operating standards to the management of PTNNT’s operations, including standards for safety, environmental stewardship and community responsibility. The Operating Agreement became effective in February 2010 and will continue for so long as Newmont and Sumitomo collectively own more shares of PTNNT than PTMDB. If the Operating Agreement terminates, then Newmont may lose control over the applicable operating standards for Batu Hijau and will be at risk for operations conducted in a manner that either detracts from value or results in safety, environmental or social standards below those adhered to by Newmont and Sumitomo.

The Contract of Work has been and may continue to be the subject of dispute, legal review, or requests for renegotiation by the Indonesian government, and is subject to termination by the Indonesian government if we do not comply with our obligations, which would result in the loss of all or much of the value of Batu Hijau.

The divestiture provisions of the Contract of Work have been the subject of dispute. In 2008, the Ministry of Energy and Mineral Resources of the Indonesian government (the “MEMR”) alleged that PTNNT was in breach of its divestiture requirements under the Contract of Work and threatened to terminate the Contract of Work if PTNNT did not agree to divest shares in accordance with the direction of the MEMR. The matter was resolved by an international arbitration panel in March 2009. The arbitration decision led to NTPBV divesting 24% of PTNNT’s shares to PTMDB, the party nominated by the MEMR.

Although the Indonesian government has acknowledged that PTNNT is currently in compliance with the Contract of Work, future disputes may arise under the Contract of Work. Moreover, there have

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been statements, from time to time, by some within the Indonesian government who advocate elimination of Contracts of Work and who may try to instigate future disputes surrounding the Contract of Work, particularly given that Batu Hijau is one of the largest businesses within the country. Although any dispute under the Contract of Work is subject to international arbitration, there can be no assurance that we would prevail in any such dispute and any termination of the Contract of Work could result in substantial diminution in the value of our interests in PTNNT. See Note 31 to the Consolidated Financial Statements for more information about the disputes involving the Contract of Work.

In January 2009, the Indonesian Government passed a new mining law. While the law preserves the right of PTNNT to operate our Batu Hijau operations pursuant to the Contract of Work, the Indonesian government is seeking to renegotiate certain provisions of the Contract of Work to conform to certain provisions of the new mining law, which could include requests for, among other things, higher royalty rates. In January 2012, the President of Indonesia appointed a committee to evaluate the process of conforming Contracts of Work to the 2009 mining law.

Our operations at Yanacocha and the development of our Conga Project in Peru are subject to political and social unrest risks, which have resulted most recently in the suspension of construction activities in our Conga project.

During the last several years, Minera Yanacocha S.R.L. (“Yanacocha”), in which we own a 51.35% interest, and whose properties include the mining operations at Yanacocha and the Conga project in Peru, has been the target of local political and community protests, some of which blocked the road between the Yanacocha mine and Conga project complexes and the City of Cajamarca in Peru and resulted in vandalism and equipment damage. We cannot predict whether similar or more significant incidents will occur in the future. The recurrence of significant political or community opposition or protests could adversely affect Conga’s development and the continued operation of Yanacocha.

Most recently, construction activities on our Conga project were suspended on November 30, 2011 at the request of Peru’s central government following increasing protests in Cajamarca by anti-mining activists led by the regional president. At the request of the Peruvian central government, the environmental impact assessment prepared in connection with the project, which was previously approved by the central government in October 2010, will be reviewed by independent experts, in an effort to resolve allegations around the environmental viability of Conga. Construction will remain suspended for the duration of the review or longer, except for sediment control works that are being conducted in the project area. However, progress continues on engineering and procurement work. Should the Company be unable to continue with the current development plan at Conga, the Company may in the future reprioritize and reallocate capital to development alternatives in Nevada, Australia, Ghana and Indonesia, which may result in a potential impairment of the Conga project.

In the second quarter of 2011, Presidential and Congressional elections resulted in a change in government in Peru. While the new government has ratified its intention to support mining as a driver for continued growth and future development of Peru, we are unable to predict the positions that will be taken by the new administration or new laws that will be passed by the recently elected Congress, whether the regional government of Cajamarca will support or oppose such positions or laws, or how any change in such position or law will affect Yanacocha or Conga. Such changes may include increased labor regulations, environmental and other regulatory requirements, and additional taxes and royalties. For example, during the third quarter of 2011, the new government enacted four new tax laws. We cannot predict future positions of either the Central or regional government on foreign investment, mining concessions, land tenure or other regulation. Any change in government positions or laws on these issues could adversely affect the assets and operations of Yanacocha or Conga, which could have a material adverse effect on our results of operations and financial position. Additionally, any inability to continue to develop the Conga project or operate at Yanacocha could have an adverse impact on our growth if we are not able to replace its expected production.

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Our Company and the mining industry are facing continued geotechnical challenges, which could adversely impact our production and profitability.

Newmont and the mining industry are facing continued geotechnical challenges due to the older age of certain of our mines and a trend toward mining deeper pits and more complex deposits. This leads to higher pit walls, more complex underground environments and increased exposure to geotechnical instability and hydrological impacts. As our operations are maturing, the open pits at many of our sites are getting deeper and we have experienced certain geotechnical failures at some of our mines, including, without limitation, in Indonesia at the Batu Hijau open-pit mine and at our operations in Nevada and Peru.

No assurances can be given that unanticipated adverse geotechnical and hydrological conditions, such as landslides and pit wall failures, will not occur in the future or that such events will be detected in advance. Geotechnical instabilities can be difficult to predict and are often affected by risks and hazards outside of our control, such as severe weather and considerable rainfall, which may lead to periodic floods, mudslides, wall instability and seismic activity, which may result in slippage of material.

Geotechnical failures could result in limited or restricted access to mine sites, suspension of operations, government investigations, increased monitoring costs, remediation costs, loss of ore and other impacts, which could cause one or more of our projects to be less profitable than currently anticipated and could result in a material adverse effect on our results of operations and financial position.

Currency fluctuations may affect our costs.

Currency fluctuations may affect the costs that we incur at our operations. Gold and copper is sold throughout the world based principally on the U.S. dollar price, but a portion of our operating expenses are incurred in local currencies. The appreciation of those local currencies against the U.S. dollar increases our costs of production in U.S. dollar terms at mines located outside the United States.

The foreign currency that primarily impacts our results of operations is the Australian dollar. We estimate that every $0.10 increase in the U.S. dollar/Australian dollar exchange rate increases annually the U.S. dollar Costs applicable to sales by approximately $90 for each ounce of gold sold from operations in Australia before taking into account the impact of currency hedging. During the majority of 2011, the Australian dollar was relatively stronger than the U.S. dollar compared to 2010. The annual average Australia dollar exchange rate appreciated by approximately 12% from 2010 to 2011. We hedge up to 90% of our future forecasted Australian dollar denominated operating expenditures to reduce the variability of our Australian dollar exposure. At December 31, 2011 we have hedged 76%, 62%, 46%, 26% and 10% of our forecasted Australian denominated operating costs in 2012, 2013, 2014, 2015 and 2016, respectively. Our Australian dollar derivative programs will limit the benefit to Newmont of future decreases, if any, in the U.S. dollar/Australian dollar exchange rates. For additional information, see Item 7, Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations, Results of Consolidated Operations, Foreign Currency Exchange Rates, below. For a more detailed description of how currency exchange rates may affect costs, see discussion in Foreign Currency in Item 7A, Quantitative and Qualitative Discussions About Market Risk.

Our business requires substantial capital investment and we may be unable to raise additional funding on favorable terms.

The construction and operation of potential future projects including the Akyem project in Ghana, the Conga project in Peru and various exploration projects will require significant funding. Our operating cash flow and other sources of funding may become insufficient to meet all of these requirements, depending on the timing and costs of development of these and other projects. As a result, new sources of capital may be needed to meet the funding requirements of these investments,

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fund our ongoing business activities and pay dividends. Our ability to raise and service significant new sources of capital will be a function of macroeconomic conditions, future gold and copper prices, our operational performance and our current cash flow and debt position, among other factors. In the event of lower gold and copper prices, unanticipated operating or financial challenges, or a further dislocation in the financial markets as experienced in recent years, our ability to pursue new business opportunities, invest in existing and new projects, fund our ongoing operations, retire or service all of our outstanding debt and pay dividends could be significantly constrained.

Any downgrade in the credit ratings assigned to our debt securities could increase our future borrowing costs and adversely affect the availability of new financing.

There can be no assurance that any rating currently assigned by Standard & Poor’s Rating Services or Moody’s Investors Service to Newmont will remain unchanged for any given period of time or that a rating will not be lowered if, in that rating agency’s judgment, future circumstances relating to the basis of the rating so warrant. If we are unable to maintain our outstanding debt and financial ratios at levels acceptable to the credit rating agencies, or should our business prospects deteriorate, our ratings could be downgraded by the rating agencies, which could adversely affect the value of our outstanding securities, our existing debt and our ability to obtain new financing on favorable terms, if at all, and increase our borrowing costs, which in turn could impair our results of operations and financial position.

To the extent that we seek to expand our operations and increase our reserves through acquisitions, we may experience issues in executing acquisitions or integrating acquired operations.

From time to time, we examine opportunities to make selective acquisitions in order to expand our operations and reported reserves. The success of any acquisition would depend on a number of factors, including, but not limited to:

• identifying suitable candidates for acquisition and negotiating acceptable terms;

• obtaining approval from regulatory authorities and potentially Newmont’s shareholders;

• maintaining our financial and strategic focus and avoiding distraction of management during the process of integrating the acquired business;

• implementing our standards, controls, procedures and policies at the acquired business and addressing any pre-existing liabilities or claims involving the acquired business; and

• to the extent the acquired operations are in a country in which we have not operated historically, understanding the regulations and challenges of operating in that new jurisdiction.

There can be no assurance that we will be able to conclude any acquisitions successfully, or that any acquisition will achieve the anticipated synergies or other positive results. Any material problems that we encounter in connection with such an acquisition could have a material adverse effect on our business, results of operations and financial position.

Our operations may be adversely affected by energy shortages.

Our mining operations and development projects require significant amounts of energy. Our principal energy sources are electricity, purchased petroleum products, natural gas and coal. Some of our operations are in remote locations requiring long distance transmission of power, and in some locations we compete with other companies for access to third party power generators or electrical supply networks. A disruption in the transmission of energy, inadequate energy transmission infrastructure or the termination of any of our energy supply contracts could interrupt our energy supply and adversely affect our operations.

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We have periodically experienced power shortages in Ghana resulting primarily from drought, increasing demands for electricity and insufficient hydroelectric or other generating capacity which caused curtailment of production at our Ahafo operations. As a result of the mining industry’s agreement to construct and install an 80 mega-watt power plant during 2007, the Ghanaian government has agreed, if required, to curtail power consumption as a result of power shortages and to distribute available power proportionately between participating mines and other industrial and commercial users. The need to use alternative sources of power may result in higher than anticipated costs, which will affect operating costs. Continued power shortages and increased costs may adversely affect our results of operations and financial position.

Continuation of our mining production is dependent on the availability of sufficient water supplies to support our mining operations.

Our mining operations require significant quantities of water for mining, ore processing and related support facilities. Our operations in North and South America and Australia are in areas where water is scarce and competition among users for continuing access to water is significant. Continuous production at our mines is dependent on our ability to maintain our water rights and claims and defeat claims adverse to our current water uses in legal proceedings. Although each of our operations currently has sufficient water rights and claims to cover its operational demands, we cannot predict the potential outcome of pending or future legal proceedings relating to our water rights, claims and uses. The loss of some or all water rights for any of our mines, in whole or in part, or shortages of water to which we have rights could require us to curtail or shut down mining production and could prevent us from pursuing expansion opportunities. Laws and regulations may be introduced in some jurisdictions in which we operate which could limit our access to sufficient water resources in our operations, thus adversely affecting our operations.

We are dependent upon information technology systems, which are subject to disruption, damage, failure and risks associated with implementation and integration.

We are dependent upon information technology systems in the conduct of our operations. Our information technology systems are subject to disruption, damage or failure from a variety of sources, including, without limitation, computer viruses, security breaches, cyber attacks, natural disasters and defects in design. Damage, disruption, or failure of one or more information technology systems may result in interruptions to our operations in the interim or may require a significant investment to fix or replace them. Various measures have been implemented to manage our risks related to the information technology systems and network disruptions, but our business, financial position or results of our operations could be adversely impacted by such interruptions or such investments.

We could also be adversely affected by system or network disruptions if new or upgraded information technology systems are defective, not installed properly or not properly integrated into our operations. We have begun the implementation of new enterprise software that we will use for various operational functions, financial reporting and controls management. The implementation of this new system carries risks such as cost overruns, delays and interruptions. If we are not able to successfully implement our new system in a timely manner, we will have to rely on manual reporting processes and controls over financial reporting that have not been planned, designed or tested. Various measures have been implemented to manage our risks related to the system implementation, but system implementation failures could have a material adverse effect on our business, financial position and results of operations and could, if not successfully implemented, adversely impact the effectiveness of our internal controls over financial reporting.

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The occurrence of events for which we are not insured may affect our cash flow and overall profitability.

We maintain insurance policies that mitigate against certain risks related to our operations. This insurance is maintained in amounts that we believe are reasonable depending upon the circumstances surrounding each identified risk. However, we may elect not to have insurance for certain risks because of the high premiums associated with insuring those risks or for various other reasons; in other cases, insurance may not be available for certain risks. Some concern always exists with respect to investments in parts of the world where civil unrest, war, nationalist movements, political violence or economic crises are possible. These countries may also pose heightened risks of expropriation of assets, business interruption, increased taxation or unilateral modification of concessions and contracts. We do not maintain insurance policies against political risk. Occurrence of events for which we are not insured may affect our results of operations and financial position.

Our business depends on good relations with our employees.

Production at our mines is dependent upon the efforts of our employees and, consequently, our maintenance of good relationships with our employees. Due to union activities or other employee actions, we could experience labor disputes, work stoppages or other disruptions in production that could adversely affect us. At December 31, 2011, union represented employees constituted approximately 42% of our worldwide work force. There can be no assurance that any future disputes will be resolved without disruptions to operations.

We rely on contractors to conduct a significant portion of our operations and construction projects.

A significant portion of our operations and construction projects are currently conducted in whole or in part by contractors. As a result, our operations are subject to a number of risks, some of which are outside our control, including:

• negotiating agreements with contractors on acceptable terms;

• the inability to replace a contractor and its operating equipment in the event that either party terminates the agreement;

• reduced control over those aspects of operations which are the responsibility of the contractor;

• failure of a contractor to perform under its agreement;

• interruption of operations or increased costs in the event that a contractor ceases its business due to insolvency or other unforeseen events;

• failure of a contractor to comply with applicable legal and regulatory requirements, to the extent it is responsible for such compliance; and

• problems of a contractor with managing its workforce, labor unrest or other employment issues.

In addition, we may incur liability to third parties as a result of the actions of our contractors. The occurrence of one or more of these risks could adversely affect our results of operations and financial position.

We are subject to litigation and may be subject to additional litigation in the future.

We are currently, or may in the future become, subject to litigation, arbitration or other legal proceedings with other parties. If decided adversely to Newmont, these legal proceedings, or others that could be brought against us in the future, could have a material adverse effect on our financial position or prospects. For a more detailed discussion of pending litigation, see Note 31 to the Consolidated Financial Statements.

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In the event of a dispute arising at our foreign operations, we may be subject to the exclusive jurisdiction of foreign courts or arbitral panels, or may not be successful in subjecting foreign persons to the jurisdiction of courts or arbitral panels in the United States. Our inability to enforce our rights and the enforcement of rights on a prejudicial basis by foreign courts or arbitral panels could have an adverse effect on our results of operations and financial position.

Title to some of our properties may be defective or challenged.

Although we have conducted title reviews of our properties, title review does not preclude third parties from challenging our title or related property rights. While we believe that we have satisfactory title to our properties, some titles may be defective or subject to challenge. In addition, certain of our Australian properties could be subject to native title or traditional landowner claims, and our ability to use these properties is dependent on agreements with traditional owners of the properties. For information regarding native title or traditional landowner claims, see the discussion under the Australia/New Zealand section of Item 2, Properties, below.

Competition from other natural resource companies may harm our business.

We compete with other natural resource companies to attract and retain key executives, skilled labor, contractors and other employees. We also compete with other natural resource companies for specialized equipment, components and supplies, such as drill rigs, necessary for exploration and development, as well as for rights to mine properties containing gold, copper and other minerals. We may be unable to continue to attract and retain skilled and experienced employees, to obtain the services of skilled personnel and contractors or specialized equipment or supplies, or to acquire additional rights to mine properties.

Our ability to recognize the benefits of deferred tax assets is dependent on future cash flows and taxable income.

We recognize the expected future tax benefit from deferred tax assets when the tax benefit is considered to be more likely than not of being realized, otherwise, a valuation allowance is applied against deferred tax assets. Assessing the recoverability of deferred tax assets requires management to make significant estimates related to expectations of future taxable income. Estimates of future taxable income are based on forecasted cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that future cash flows and taxable income differ significantly from estimates, our ability to realize the deferred tax assets could be impacted. Additionally, future changes in tax laws could limit our ability to obtain the future tax benefits represented by our deferred tax assets. At December 31, 2011, the Company’s current and long-term deferred tax assets were $396 and $1,605, respectively.

Returns for investments in pension plans are uncertain.

We maintain pension plans for certain employees which provide for specified payments after retirement. The ability of the pension plans to provide the specified benefits depends on our funding of the plans and returns on investments made by the plans. Returns, if any, on investments are subject to fluctuations based on investment choices and market conditions. A sustained period of low returns or losses on investments could require us to fund the pension plans to a greater extent than anticipated. During the second half of 2008 and early 2009, market conditions caused the value of the investments in our pension plans to decrease significantly. As a result, we contributed $27 and $161 to the pension plans in 2011 and 2010, respectively. If future plan investment returns are not sufficient, we may be required to increase the amount of future cash contributions. For a more detailed discussion of the funding status and expected benefit payments to plan participants, see the discussion in Employee Related Benefits, Note 8 to the Consolidated Financial Statements.

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Holders of our common stock may not receive dividends on the common stock.

Holders of our common stock are entitled to receive only such dividends as our board of directors may declare out of funds legally available for such payments. We are incorporated in Delaware and governed by the Delaware General Corporation Law. Delaware law allows a corporation to pay dividends only out of surplus, as determined under Delaware law or, if there is no surplus, out of net profits for the fiscal year in which the dividend was declared and for the preceding fiscal year. Under Delaware law, however, we cannot pay dividends out of net profits if, after we pay the dividend, our capital would be less than the capital represented by the outstanding stock of all classes having a preference upon the distribution of assets. Furthermore, holders of our common stock may be subject to the prior dividend rights of holders of our preferred stock or depositary shares representing such preferred stock then outstanding. Our ability to pay dividends will be subject to our future earnings, capital requirements and financial condition, as well as our compliance with covenants and financial ratios related to existing or future indebtedness. Although we have historically declared cash dividends on our common stock and recently adopted the enhanced gold price-linked dividend policy described under Item 5, Market for Registrant’s Common Equity, Related Stockholders Matters and Issuer Purchase of Equity Securities, we are not required to declare cash dividends on our common stock and our board of directors may reduce, defer or eliminate our common stock dividend in the future.

ITEM 2. PROPERTIES (dollars in millions except per share, per ounce and per pound amounts)

Production and Development Properties

Newmont’s significant production and development properties are described below. Operating statistics for each operation are presented in a table in the next section of Item 2.

North America

Nevada, USA.    We have been mining gold in Nevada since 1965. Nevada operations include Carlin, located west of the city of Elko on the geologic feature known as the Carlin Trend, the Phoenix mine, located 10 miles south of Battle Mountain, the Twin Creeks mine, located approximately 15 miles north of Golconda, and the Midas mine near the town of the same name. We also participate in the Turquoise Ridge joint venture with a subsidiary of Barrick Gold Corporation (“Barrick”), which utilizes mill capacity at Twin Creeks.

Gold production from Nevada was approximately 1.7 million ounces for 2011 with ore mined from seven open pit and eight underground mines. At December 31, 2011, we reported 34.7 million ounces

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of gold reserves in Nevada, with 77% of those ounces in open pit mines and 23% in underground mines. We are advancing several development opportunities in Nevada, including Long Canyon, with significant reserve expansion potential.

The Nevada operations produce gold from a variety of ore types requiring different processing techniques depending on economic and metallurgical characteristics. To ensure the best use of processing capacity, we use a linear programming model to guide the flow of both mining sequence selection and routing of ore streams to various plants. Refractory ores, which require more complex, higher cost processing methods, generated 79% of Nevada’s gold production in 2011, compared with 79% in 2010 and 77% in 2009. With respect to remaining reserves, we estimate that approximately 85% are refractory ores and 15% are oxide ores. Higher-grade oxide ores are processed by conventional milling and cyanide leaching at Carlin (Mill 5) and Twin Creeks (Juniper). Lower-grade material with suitable cyanide solubility is treated on heap leach pads at Carlin and Twin Creeks. Higher-grade refractory ores are processed through either a roaster at Carlin (Mill 6) or autoclaves at Twin Creeks (Sage). Lower-grade refractory ores are processed at Carlin by flotation or direct flotation at Mill 5. Mill 5 flotation concentrates are then processed at the Carlin roaster or the Twin Creeks autoclaves and additional gold is recovered from the flotation tails by cyanide leaching. The Phoenix mill produces a gravity gold concentrate and a copper/gold flotation concentrate and recovers additional gold from cyanide leaching of the flotation tails. Ore from the Midas mine is processed by conventional milling and Merrill-Crowe zinc precipitation. Activated carbon from the various leaching circuits is treated to produce gold ore at the Carlin or Twin Creeks refineries. Zinc precipitate at Midas is refined on-site.

We own, or control through long-term mining leases and unpatented mining claims, all of the minerals and surface area within the boundaries of the present Nevada mining operations (except for the Turquoise Ridge joint venture described below). The long-term leases extend for at least the anticipated mine life of those deposits. With respect to a significant portion of the Gold Quarry mine at Carlin, we pay a royalty equivalent to 16.2% of the mineral production. We wholly-own or control the remainder of the Gold Quarry mineral rights, in some cases subject to additional royalties. With respect to certain smaller deposits in Nevada, we are obligated to pay royalties on production to third parties that vary from 1% to 8% of production.

In Nevada, mining taxes are assessed on up to 5% of net proceeds of a mine. Net proceeds are calculated as the excess of gross yield over direct costs. Gross yield is determined as the value received when minerals are sold, exchanged for anything of value or removed from the state. Direct costs generally include the costs to develop, extract, produce, transport and refine minerals.

We have a 25% interest in a joint venture with Barrick in the Turquoise Ridge mine. Newmont has an agreement to provide up to 2,000 tons per day of milling capacity at Twin Creeks to the joint venture. Barrick is the operator of the joint venture. Gold production of 44,000 ounces in 2011, 38,000 ounces in 2010 and 39,000 ounces in 2009 were attributable to Newmont, based on our 25% ownership interest.

We had ore sale agreements with Yukon-Nevada Gold Corporation (“Yukon-Nevada”) and Barrick to process the Company’s ore. We recognized attributable gold sales, net of treatment charges, of 47,000 ounces in 2011, 15,000 ounces in 2010 and 700 ounces in 2009, pursuant to these agreements.

On April 6, 2011, the Company completed the acquisition of Fronteer Gold Inc. (“Fronteer”). Fronteer owned among other assets, the exploration stage Long Canyon project, which is located approximately one hundred miles from the Company’s existing infrastructure in Nevada and we believe provides the potential for significant development and operating synergies. During 2011, the project entered into the pre-feasibility stage as we further develop our understanding of what we expect could be another Carlin-type trend at Long Canyon. We have received an expanded exploration area permit

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allowing access to project targets. We continue to make progress on the drilling program. A total of 72 kilometers of drilling was completed in 2011 and we anticipate an additional 65 kilometers to be drilled in 2012. Our intention is to bring the project into production in 2017 with initial estimated gold production of approximately 200,000 to 300,000 ounces per year.

Mexico.    We have a 44% interest in the La Herradura joint venture and related gold properties (Herradura, Soledad-Dipolos and Noche Buena), which are located in Mexico’s Sonora desert. La Herradura is operated by Fresnillo PLC (which owns the remaining 56% interest) and comprises open pit operations with run-of-mine heap leach processing. Herradura, located in Sonara, Mexico has been in operation since 1998. Soledad-Dipolos is located 9 kilometers northwest of Herradura and commenced operations in January, 2010. Noche Buena is located 23 kilometers northwest of Herradura and operations are expected to commence in the first half of 2012. La Herradura produced 212,000 attributable ounces of gold in 2011, and at December 31, 2011 we reported 2.3 million attributable ounces of gold reserves.

South America

The properties of Minera Yanacocha S.R.L. (“MYSRL”) include the mining operations at Yanacocha and the Conga project. We hold a 51.35% interest in MYSRL with the remaining interests held by Compañia de Minas Buenaventura, S.A.A. (“Buenaventura”) (43.65%) and the International Finance Corporation (5%).

MYSRL has mining rights with respect to a large land position consisting of concessions granted by the Peruvian government to MYSRL and a related entity. These mining concessions provide for both the right to explore and exploit. However, MYSRL must first obtain the respective exploration and exploitation permits, which are generally granted in due course. MYSRL may retain mining concessions indefinitely by paying annual fees and, during exploitation, complying with production obligations or paying assessed fines. Mining concessions are freely assignable or transferable. During 2011, Peru enacted a new mining tax and royalty regime, replacing a 3.75% voluntary contribution that expired in 2010. Beginning October 1, 2011, mining companies are subject to a revised royalty and special mining tax, dependent on whether or not a stabilization agreement is in effect. The revised royalty and special mining taxes are based on a sliding scale and are expected to be 5% to 7%.

Yanacocha, Peru.    Yanacocha is located approximately 375 miles (604 kilometers) north of Lima and 30 miles (48 kilometers) north of the city of Cajamarca, in Peru. Yanacocha began production in 1993 and currently has active open pit mines at Cerro Yanacocha, La Quinua and Chaquicocha, and in 2011, mining operations were reinitiated at Maqui Maqui and Carachugo. Yanacocha has four leach pads, three processing facilities, and one mill, which began commercial production in the second quarter of 2008. Yanacocha’s gold production for 2011 was 1.3 million ounces (728,000 attributable ounces) and at December 31, 2011 we reported 4.0 million attributable ounces of gold reserves.

Conga, Peru.    The Conga project is located within close proximity of existing operations at Yanacocha. In July 2011, the project progressed infrastructure works, earthworks construction, drilling, detailed engineering and procurement of equipment and materials. Construction activities were suspended on November 30, 2011, at the request of Peru’s central government following increasing protests in Cajamarca by anti-mining activists led by the regional president. At the request of the Peruvian central government, the environmental impact assessment prepared in connection with the project, which was previously approved in October 2010, will be reviewed by independent experts, in an effort to resolve the alleged concerns around the environmental viability of Conga. Construction will remain suspended for the duration of the review, however, progress continues on engineering and procurement. Should we be unable to continue with the current development plan at Conga, we may reprioritize and reallocate capital to development alternatives in Nevada, Australia, Ghana and Indonesia. If the project proceeds, average annual estimated attributable gold production of

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approximately 300,000 to 350,000 ounces and average annual estimated attributable copper production of approximately 80 to 120 million pounds per year are expected during the first five years of production. At December 31, 2011, we reported 6.5 million attributable ounces of gold reserves and 1,690 million attributable pounds of copper reserves.

La Zanja, Peru.    We hold a 46.94% interest in La Zanja, a gold mine near the city of Cajamarca, Peru. The mine commenced operations in September 2010 and is operated by Buenaventura. The site consists of two small open pits and one oxide leach pad. La Zanja produced 64,000 attributable gold ounces in 2011 and at December 31, 2011 we reported 0.3 million attributable ounces of gold reserves.

Merian, Suriname.    We hold a 50% interest in the Merian gold project, a joint venture with a subsidiary of Alcoa. We will earn an 80% interest on completion of the feasibility study, which commenced in the third quarter of 2011 and is expected to be completed in the fourth quarter of 2012. Once we earn our 80% interest, Alcoa may, within 30 days, elect to purchase a 10% interest in the joint venture from us (reducing our interest to 70%). If Alcoa elects this option, it will be required to solely fund the joint venture expenditures in an amount equal to two-thirds of the expenditures we incurred to complete the feasibility study. Negotiations with the government of Suriname on a mineral agreement are continuing, which may affect our equity participation in the project.

Asia Pacific

Australia/New Zealand.    In Australia, mineral exploration and mining titles are granted by the individual states or territories. Mineral titles may also be subject to native title legislation or, in the Northern Territory, to Aboriginal freehold title legislation that entitles indigenous persons to compensation calculated by reference to the gross value of production. In 1992, the High Court of Australia held that Aboriginal people who have maintained a continuing connection with their land according to their traditions and customs may hold certain rights in respect of the land (such rights commonly referred to as “native title”). Since the High Court’s decision, Australia has passed legislation providing for the protection of native title and established procedures for Aboriginal people to claim these rights. The fact that native title is claimed with respect to an area, however, does not necessarily mean that native title exists, and disputes may be resolved by the courts.

Generally, under native title legislation, all mining titles granted before January 1, 1994 are valid. Titles granted between January 1, 1994 and December 23, 1996, however, may be subject to invalidation if they were not obtained in compliance with applicable legislative procedures, though subsequent legislation has validated some of these titles. After December 23, 1996, mining titles over areas where native title is claimed to exist became subject to legislative processes that generally give native title claimants the “right to negotiate” with the title applicant for compensation and other conditions. Native title holders do not have a veto over the granting of mining titles, but if agreement cannot be reached, the matter can be referred to the National Native Title Tribunal for decision.

Native title claims are not expected to have a material adverse effect on any of our operations in Australia. The High Court of Australia determined in an August 2002 decision, which refined and narrowed the scope of native title, that native title does not subsist in minerals in Western Australia and that the rights granted under a mining title would, to the extent inconsistent with asserted native title rights, operate to extinguish those native title rights. Generally, native title is only an issue for Newmont with respect to obtaining new mineral titles or moving from one form of title to another, for example, from an exploration title to a mining title. In these cases, the requirements for negotiation and the possibility of paying compensation may result in delay and increased costs for mining in the affected areas. Similarly, the process of conducting Aboriginal heritage surveys to identify and locate areas or sites of Aboriginal cultural significance can result in additional costs and delay in gaining access to land for exploration and mining-related activities.

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In Australia, various ad valorem royalties and taxes are paid to state and territorial governments, typically based on a percentage of gross revenues or earnings. Indigenous communities have negotiated royalty payments as a condition to granting access to areas where they have native title or other property rights. A carbon dioxide tax will commence in Australia beginning July 1, 2012, whereby the largest emitters of carbon dioxide will be required to pay A$23.00 per metric ton of carbon dioxide released into the atmosphere. The carbon price is indexed for inflation through June 30, 2015, when a cap and trade system will be in place. Carbon costs will primarily be driven by electricity and diesel fuel consumption.

Boddington.    Boddington (100% owned) is located 81 miles (130 kilometers) southeast of Perth in Western Australia. Boddington has been wholly owned since June 2009 when Newmont acquired the final 33.33% interest from AngloGold Ashanti Australia Limited (“AngloGold”). Boddington poured its first gold in September 2009 and commenced commercial production in November 2009. Boddington produced 741,000 ounces of gold and 69 million pounds of copper in 2011, and at December 31, 2011 we reported 19.5 million ounces of gold reserves and 2,260 million pounds of copper reserves.

Kalgoorlie.    Kalgoorlie (50% owned) comprises the Fimiston open pit (commonly referred to as the Super Pit) and Mt. Charlotte underground mine at Kalgoorlie-Boulder, 373 miles (600 kilometers) east of Perth in Western Australia. The mines are managed by Kalgoorlie Consolidated Gold Mines Pty Ltd for the joint venture owners, Newmont and Barrick. The Super Pit is one of Australia’s largest gold mines in terms of gold production and annual tons mined. During 2011, the Kalgoorlie operations produced 750,000 ounces of gold (375,000 attributable ounces), and at December 31, 2011 we reported 4.4 million attributable ounces of gold reserves.

Jundee.    Jundee (100% owned) is situated approximately 435 miles (700 kilometers) northeast of Perth in Western Australia. We mined ore at Jundee solely from underground sources in 2011, with mill feed supplemented from oxide stockpiles for blending purposes. Jundee produced 333,000 ounces of gold in 2011 and at December 31, 2011 we reported 0.6 million ounces of gold reserves.

Tanami.    Tanami (100% owned) includes the Granites treatment plant and associated mining operations, which are located in the Northern Territory approximately 342 miles (550 kilometers) northwest of Alice Springs, adjacent to the Tanami highway, and the Dead Bullock Soak mining operations, approximately 25 miles (40 kilometers) west of the Granites. Operations are predominantly focused on the Callie underground mine at Dead Bullock Soak and ore is processed through the Granites treatment plant. In July 2011, a project to develop a shaft to support underground operations was approved by the Board of Directors. The project will support underground expansion at the Callie and Auron ore bodies, reduce cut-off grade, enhance productivity and facilitate possible additional mine expansion. The project is expected to add gold production of approximately 60,000 to 90,000 ounces per year during the first five years of production. First production is expected in 2015. During 2011, the Tanami operations produced 221,000 ounces of gold and at December 31, 2011 we reported 2.5 million ounces of gold reserves.

Waihi.    Waihi (100% owned) is located within the town of Waihi, approximately 68 miles (110 kilometers) southeast of Auckland, New Zealand and currently consists of the Favona and Trio (currently under development) underground deposits and the Martha open pit mine. The Waihi operation produced 97,000 ounces of gold in 2011 and at December 31, 2011 we reported 0.4 million ounces of gold reserves.

Duketon.    We have a 16.85% interest in Regis Resources Ltd. (“Regis”), which owns 100% of the Duketon gold mine, located approximately 200 miles northeast of Kalgoorlie. Duketon commenced production in the third quarter of 2010 and produced 17,000 attributable ounces of gold in 2011. At December 31, 2011, we reported 0.5 million attributable ounces of gold reserves.

Batu Hijau, Indonesia.    Batu Hijau is located on the island of Sumbawa, approximately 950 miles (1,529 kilometers) east of Jakarta. Batu Hijau is a large porphyry copper/gold deposit, which Newmont

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discovered in 1990. Development and construction activities began in 1997 and start-up occurred in late 1999. In 2011, Batu Hijau produced 283 million pounds of copper (137 million attributable pounds) and 318,000 ounces of gold (154,000 attributable ounces). At December 31, 2011, we reported 3,730 million attributable pounds of copper reserves and 3.6 million attributable ounces of gold reserves at Batu Hijau.

We own 31.50% of the Batu Hijau mine through Nusa Tenggara Partnership B.V. (“NTPBV”), which we own with an affiliate of Sumitomo Corporation of Japan. We have a 56.25% interest in NTPBV and the Sumitomo affiliate holds the remaining 43.75%. NTPBV in turn owns 56% of PT Newmont Nusa Tenggara (“PTNNT”), the Indonesian subsidiary that owns the Batu Hijau copper and gold mine. The remaining 44% interest in PTNNT is owned by PT Multi Daerah Bersaing (“PTMDB”), 24%; P.T. Pukuafu Indah (“PTPI”), 17.8%; and PT Indonesia Masbaga Investama (“PTIMI”), 2.2%.

On May 6, 2011, we announced that a definitive agreement was signed with an agency of the Indonesian Government’s Ministry of Finance for the sale of the final 7% divestiture stake, as required under the terms of PTNNT’s Contract of Work with the Indonesian Government. NTPBV entered into the agreement with Pusat Investasi Pemerintah (“PIP”). The Government of Indonesia designated PIP as the buyer for the final 7% interest by exercising a right of first refusal set out in the Contract of Work. Upon closing of the transaction, NTPBV’s interest in Batu Hijau will be reduced to 49%, as required under the Contract of Work. The price agreed for the 7% stake is approximately $247. Closing of the transaction is pending receipt of approvals from certain Indonesian government ministries. Subsequent to signing the agreement, a disagreement arose between the Ministry of Finance and the Indonesian parliament in regard to whether parliamentary approval was required to allow PIP to make the share purchase. The Ministry of Finance continues to dispute the need for parliamentary approval and further disputes may arise in regard to the divestiture of the 2010 shares. NTPBV and PIP agreed to extend the period for satisfying the closing conditions of the agreement until May 6, 2012. Our ownership interest in PTNNT following the closing of the transaction will be 27.56%.

We have identified Variable Interest Entities (“VIEs”) (see Note 2 to the Consolidated Financial Statements) in connection with our economic interests in PTNNT due to certain funding arrangements and shareholder commitments. We have financing arrangements with PTPI and PTIMI, unrelated noncontrolling shareholders of PTNNT, whereby we agreed to advance certain funds to them in exchange for (i) a pledge of their combined 20% share of PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, (iii) a commitment from them to support the application of our standards to the operation of the Batu Hijau mine, and (iv) as of September 16, 2011 in respect of PTPI only, powers of attorney to vote and sell PTNNT shares in support of the pledge, enforceable in an event of default as further security for the funding. As a result, PTPI and PTIMI were determined to be VIEs and our effective economic interest in PTNNT increased by 17% (20% interest net of withholding tax) to 48.50% during 2010. We currently provide management for the Batu Hijau operation and our standards are applied at Batu Hijau.

In Indonesia, rights are granted to foreign investors to explore for and to develop mineral resources within defined areas through Contracts of Work entered into with the Indonesian government. In 1986, PTNNT entered into a Contract of Work with the Indonesian government covering Batu Hijau, under which PTNNT was granted the exclusive right to explore in the contract area, construct any required facilities, extract and process the mineralized materials, and sell and export the minerals produced, subject to certain requirements including Indonesian government approvals and payment of royalties to the government. Under the Contract of Work, PTNNT has the right to continue operating the project for 30 years from operational start-up, or longer if approved by the Indonesian government.

Under the Contract of Work our ownership interest in the Batu Hijau mine’s proven and probable reserves may be reduced in the future to as low as 27.56% and ownership interest of NTPBV in PTNNT could be reduced to 49%, thus potentially reducing our ability to control the operation at Batu

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Hijau or apply our operating standards. As part of the negotiation of the divestiture sale agreements with PTMDB, the parties executed an operating agreement under which each party recognizes the right of Newmont and Sumitomo to apply their operating standards at Batu Hijau and binds the parties to adhere to our standards for safety, environmental stewardship and community responsibility. The operating agreement remains in effect for so long as NTPBV owns more shares of PTNNT than PTMDB. If the operating agreement terminates, then we could lose effective control over the operations of Batu Hijau and will be at risk for operations conducted in a manner that could potentially reduce the value of PTNNT or result in safety, environmental or social standards below those adhered to by us. Such loss of control may cause us to deconsolidate PTNNT for accounting purposes, which would reduce our reported consolidated sales, cost applicable to sales, amortization, total assets and operating cash flow attributable to PTNNT. See Note 31 to the Consolidated Financial Statements.

Africa

Ahafo, Ghana.    Ahafo (100% owned) is located in the Brong-Ahafo Region of Ghana, approximately 180 miles (290 kilometers) northwest of Accra. We currently operate four open pits at Ahafo with reserves contained in 11 operating and planned pits. Commercial production in the fourth pit, Amoma, began in October 2010. The process plant consists of a conventional mill and carbon-in-leach circuit. Ahafo produced 566,000 ounces of gold in 2011, and at December 31, 2011 we reported 12.1 million ounces of gold reserves.

Akyem, Ghana.    Akyem (100% owned) is located approximately 80 miles (125 kilometers) northwest of Accra. The Akyem project is advancing with awarding of 95% of all construction contracts, commencement of bulk earthworks, major civil work and underground utilities. The first structural concrete was placed in August 2011. Establishment of the first set of households at the resettlement villages took place in October 2011. First production is anticipated in late 2013 to early 2014, with approximately three to six months expected for ramp-up from construction completion to commercial production. Gold production is expected to be approximately 350,000 to 450,000 ounces per year for the first five years of the mine’s operating life of approximately 16 years (based on current gold reserves). At December 31, 2011, we reported 7.4 million ounces of gold reserves.

In December 2003, Ghana’s Parliament unanimously ratified an Investment Agreement (the “Investment Agreement”) between Newmont and the government of Ghana. The Investment Agreement establishes a fixed fiscal and legal regime, including fixed royalty and tax rates, for the life of any Newmont project in Ghana. Under the Investment Agreement, we will pay corporate income tax at the Ghana statutory tax rate (presently 25% but not to exceed 32.5%) and fixed gross royalties on gold production of 3.0% (3.6% for any production from forest reserve areas). The government of Ghana is also entitled to receive 10% of a project’s net cash flow after we have recouped our investment and may acquire up to 20% of a project’s equity at fair market value on or after the 15^th anniversary of such project’s commencement of production. The Investment Agreement also contains commitments with respect to job training for local Ghanaians, community development, purchasing of local goods and services and environmental protection. In 2009, the Minister of Finance implemented the National Fiscal Stabilization Levy, which is an additional tax of profits. Negotiations are ongoing with the commissioner of the Ghana Internal Revenue Service on the applicability of the levy, given Newmont’s Investment Agreement. While negotiations are pending, we have paid and included $39 in Income and mining tax expense to date under the levy.

In 2011, the Minister of Finance proposed the following changes in Ghana’s tax laws: (i) an increase in the corporate income tax from 25% to 35%, (ii) the elimination of the National Fiscal Stabilization Levy, (iii) the introduction of a windfall tax of 10% and (iv) a change in capital allowances to 20% over 5 years from the previously allowed 80% deduction in year one and then 50% per year on the remaining balance. Per our Investment Agreement, the increase in the corporate income tax rate would be limited to 32.5% and the windfall tax of 10% would not be applicable to our Ghana operations.

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In addition, the government of Ghana recently established a National Re-Negotiation Team to review fiscal regimes and mining agreements with a view to ensuring that Ghana benefits adequately and fairly from gains in the mining sector. As a result, our Investment Agreement could be subject to requests for renegotiation by the government of Ghana. See Risk Factor “Our operations are subject to risks of doing business” for a description of risks inherent in contracts with governments.

Operating Statistics

The following tables detail operating statistics related to gold production, sales and production costs per ounce:

	North America									South America
Year Ended December 31,	2011			2010			2009			2011			2010			2009
Tons mined (000 dry short tons):
Open pit		236,120			233,359			239,102			164,946			199,467			197,559
Underground		2,685			2,452			2,740			—			—			—
Tons processed (000 dry short tons):
Mill		23,860			23,497			24,702			6,843			6,832			6,242
Leach		23,050			17,240			19,697			43,173			58,691			136,293
Average ore grade (oz/ton):
Mill		0.081			0.085			0.085			0.102			0.081			0.118
Leach		0.018			0.019			0.022			0.020			0.019			0.018
Average mill recovery rate		78.6	%		78.9	%		81.8	%		84.6	%		82.5	%		86.4	%
Ounces produced (000):
Mill		1,577			1,540			1,700			560			421			630
Leach		361			366			398			709			1,038			1,428
Development(1)		15			3			1			24			3			—
Consolidated		1,953			1,909			2,099			1,293			1,462			2,058
Attributable to Newmont		1,953			1,909			2,099			728			771			1,057
Consolidated ounces sold (000)		1,933			1,898			2,117			1,271			1,463			2,068
Production costs per ounce sold:
Direct mining and production costs	$	658		$	601		$	535		$	555		$	444		$	318
By-product credits		(100	)		(72	)		(55	)		(36	)		(50	)		(31	)
Royalties and production taxes		25			15			15			38			32			18
Other		11			7			6			3			5			5
Costs applicable to sales		594			551			501			560			431			310
Amortization		153			153			128			184			111			81
Reclamation and remediation		4			4			3			15			10			6
Total production costs	$	751		$	708		$	632		$	759		$	552		$	397

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	Asia Pacific									Africa
Year Ended December 31,	2011			2010			2009			2011			2010			2009
Tons mined (000 dry short tons):
Open pit		306,796			238,725			204,814			52,332			51,054			51,971
Underground		3,159			3,564			3,778			—			—			—
Tons milled (000 dry short tons)		81,689			89,293			58,853			8,614			8,372			8,335
Average ore grade (oz/ton)		0.030			0.033			0.034			0.078			0.077			0.074
Average mill recovery rate		85.4	%		86.3	%		88.3	%		89.8	%		86.1	%		87.2	%
Ounces produced (000):
Mill		2,083			2,535			1,776			559			529			532
Development(1)		2			—			56			7			16			—
Consolidated		2,085			2,535			1,832			566			545			532
Attributable to Newmont		1,938			2,167			1,517			566			545			532
Consolidated ounces sold (000)		2,058			2,407			1,803			558			528			546
Production costs per ounce sold:
Direct mining and production costs	$	621		$	457		$	395		$	427		$	411		$	414
By-product credits		(24	)		(14	)		(10	)		(2	)		(1	)		(1	)
Royalties and production taxes		38			28			24			47			38			29
Other		4			3			1			2			2			2
Costs applicable to sales		639			474			410			474			450			444
Amortization		142			109			100			137			150			125
Reclamation and remediation		7			5			4			4			4			4
Total production costs	$	788		$	588		$	514		$	615		$	604		$	573

	Total Gold
Year Ended December 31,	2011			2010			2009
Ounces produced (000):
Mill		4,779			5,025			4,638
Leach		1,070			1,404			1,826
Development(1)		48			22			57
Consolidated		5,897			6,451			6,521
Attributable to Newmont(2)		5,185			5,392			5,237
Consolidated ounces sold (000)		5,820			6,296			6,534
Production costs per ounce sold:
Direct mining and production costs	$	600		$	493		$	418
By-product credits		(50	)		(39	)		(30	)
Royalties and production taxes		35			26			20
Other		6			5			3
Costs applicable to sales		591			485			411
Amortization		154			126			105
Reclamation and remediation		7			6			4
Total production costs	$	752		$	617		$	520

⁽¹⁾  Ounces from the removal and production of de minimis saleable materials during development. Related sales are recorded in Other income, net of incremental mining and processing costs.

⁽²⁾  Includes 32 thousand ounces from discontinued operations at Kori Kollo, Bolivia in 2009.

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The following table details operating statistics related to copper production, sales and production costs per pound.

	Asia Pacific
Year Ended December 31,	2011			2010			2009
Tons milled (000 dry short tons)		70,487			77,155			47,087
Average grade		0.33	%		0.46	%		0.60	%
Average recovery rate		76.4	%		85.1	%		89.2	%
Consolidated pounds produced (millions)		352			600			504
Attributable to Newmont(1)		206			327			227
Consolidated pounds sold (millions)		356			539			507
Production costs per pound sold:
Costs applicable to sales	$	1.26		$	0.80		$	0.64
Amortization		0.28			0.21			0.16
Reclamation and remediation		0.02			0.01			0.01
Total production costs	$	1.56		$	1.02		$	0.81

Proven and Probable Reserves

We had attributable proven and probable gold reserves of 98.8 million ounces at December 31, 2011, calculated at a gold price assumption of $1,200, A$1,250 or NZ$1,600 per ounce. Our 2011 reserves would decline by approximately 5% (4.7 million ounces), if calculated at a $1,100 per ounce gold price. An increase in the gold price to $1,300 per ounce would increase reserves by approximately 4% (3.9 million ounces), all other assumptions remaining constant. For 2010, reserves were calculated at a gold price assumption of $950, A$1,100 or NZ$1,350 per ounce.

At December 31, 2011, our proven and probable gold reserves in North America were 37.0 million ounces. Outside of North America, year-end proven and probable gold reserves were 61.8 million ounces, including 31.5 million ounces in Asia Pacific, 19.5 million ounces in Africa and 10.8 million ounces in South America.

Our proven and probable copper reserves at December 31, 2011 were 9,720 million pounds. For 2011, reserves were calculated at a copper price assumption of $3.00 or A$3.15 per pound, increased from $2.50 or A$2.95 per pound, used in 2010.

Our proven and probable silver reserves at December 31, 2011 were 195 million ounces. For 2011, reserves were calculated at a silver price assumption of $22.00 or A$23.00 per ounce. Silver reserves are generally a by-product of gold and/or copper reserves, with significant enough levels to be estimated and included in calculations for mine planning and operations. While details of silver reserves were not provided in 2010, reserves disclosed in footnotes used price assumptions of $15.00 or A$17.50 per ounce in 2010.

Under our current mining plans, all of our reserves are located on fee property or mining claims or will be depleted during the terms of existing mining licenses or concessions, or where applicable, any assured renewal or extension periods for such licenses or concessions.

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Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determined economic feasibility. Metal price assumptions follow U.S. Securities and Exchange Commission guidance not to exceed a three year trailing average. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables below list the average metallurgical recovery rate for each deposit, which takes into account the relevant processing methods. The cut-off grade, or lowest grade of mineralized material considered economic to process, varies with material type, price, metallurgical recoveries, operating costs and co- or by-product credits.

The proven and probable reserve figures presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold and copper will be realized. Ounces of gold or pounds of copper included in the proven and probable reserves are calculated without regard to any losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold and copper, as well as increased production costs or reduced metallurgical recovery rates, could render certain proven and probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves.

We publish reserves annually, and will recalculate reserves at December 31, 2012, taking into account metal prices, changes, if any, in future production and capital costs, divestments and depletion as well as any acquisitions and additions during 2012.

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The following tables detail gold proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2011 and 2010:

				December 31, 2011(1)
				Proven Reserves						Probable Reserves						Proven and Probable Reserves
Deposits/Districts	Newmont Share			Tonnage(2)		Grade (oz/ton)		Ounces(3)		Tonnage(2)		Grade (oz/ton)		Ounces(3)		Tonnage(2)		Grade (oz/ton)		Ounces(3)		Metallurgical Recovery(3)
				(000)				(000)		(000)				(000)		(000)				(000)
North America
Carlin Open Pits, Nevada(4)		100	%		92,600		0.058		5,410		239,100		0.030		7,210		331,700		0.038		12,620		77	%
Carlin Underground, Nevada		100	%		11,300		0.271		3,070		6,700		0.300		2,020		18,000		0.282		5,090		86	%
Midas, Nevada		100	%		300		0.315		80		500		0.177		80		800		0.226		160		95	%
Phoenix, Nevada(5)		100	%		24,900		0.018		460		422,200		0.016		6,790		447,100		0.016		7,250		72	%
Twin Creeks, Nevada		100	%		10,600		0.097		1,020		37,700		0.073		2,760		48,300		0.078		3,780		80	%
Turquoise Ridge, Nevada(6)		25	%		1,700		0.444		740		2,300		0.440		1,020		4,000		0.442		1,760		92	%
Nevada In-Process(7)		100	%		23,000		0.020		460		—				—		23,000		0.020		460		65	%
Nevada Stockpiles(8)		100	%		65,100		0.053		3,440		3,100		0.028		90		68,200		0.052		3,530		76	%
Total Nevada(9)					229,500		0.064		14,680		711,600		0.028		19,970		941,100		0.037		34,650		78	%
La Herradura, Mexico(10)		44	%		51,000		0.021		1,090		60,400		0.020		1,240		111,400		0.021		2,330		62	%
					280,500		0.056		15,770		772,000		0.027		21,210		1,052,500		0.035		36,980		77	%
South America
Conga, Peru(11)		51.35	%		—				—		303,400		0.021		6,460		303,400		0.021		6,460		75	%
Yanacocha, Peru Open Pits(12)		51.35	%		34,200		0.050		1,710		85,700		0.022		1,860		119,900		0.030		3,570		72	%
Yanacocha, Peru In -Process(7)(12)		51.35	%		13,100		0.025		330		2,100		0.027		60		15,200		0.025		390		78	%
Total Yanacocha, Peru		51.35	%		47,300		0.043		2,040		87,800		0.022		1,920		135,100		0.029		3,960		72	%
La Zanja, Peru(13)		46.94	%		7,300		0.016		120		14,100		0.015		210		21,400		0.016		330		66	%
					54,600		0.040		2,160		405,300		0.021		8,590		459,900		0.023		10,750		73	%
Asia Pacific
Batu Hijau Open Pit(14)		48.50	%		127,600		0.017		2,110		196,100		0.005		1,040		323,700		0.010		3,150		75	%
Batu Hijau Stockpiles(8)(14)		48.50	%		—				—		156,900		0.003		490		156,900		0.003		490		70	%
Total Batu Hijau, Indonesia		48.50	%		127,600		0.017		2,110		353,000		0.004		1,530		480,600		0.008		3,640		75	%
Boddington, Western Australia		100	%		181,800		0.020		3,600		871,700		0.018		15,890		1,053,500		0.019		19,490		81	%
Duketon, Western Australia(15)		16.85	%		2,000		0.044		90		8,800		0.045		400		10,800		0.045		490		95	%
Jundee, Western Australia(16)		100	%		3,100		0.160		490		700		0.237		160		3,800		0.174		650		91	%
Kalgoorlie Open Pit and Underground		50	%		13,300		0.059		790		41,700		0.056		2,350		55,000		0.057		3,140		85	%
Kalgoorlie Stockpiles(8)		50	%		53,900		0.023		1,260		—				—		53,900		0.023		1,260		78	%
Total Kalgoorlie, Western Australia(17)		50	%		67,200		0.030		2,050		41,700		0.056		2,350		108,900		0.040		4,400		83	%
Tanami, Northern Territories(18)		100	%		6,200		0.156		960		10,500		0.149		1,560		16,700		0.152		2,520		94	%
Waihi, New Zealand(19)		100	%		—				—		3,200		0.112		360		3,200		0.112		360		89	%
					387,900		0.024		9,300		1,289,600		0.017		22,250		1,677,500		0.019		31,550		82	%
Africa
Ahafo Open Pits(20)		100	%		—				—		194,700		0.055		10,790		194,700		0.055		10,790		87	%
Ahafo Underground		100	%		—				—		5,900		0.112		660		5,900		0.112		660		89	%
Ahafo Stockpiles(8)		100	%		21,000		0.030		630		—				—		21,000		0.030		630		86	%
Total Ahafo, Ghana		100	%		21,000		0.030		630		200,600		0.057		11,450		221,600		0.055		12,080		87	%
Akyem, Ghana(21)		100	%		—				—		144,500		0.051		7,390		144,500		0.051		7,390		88	%
					21,000		0.030		630		345,100		0.055		18,840		366,100		0.053		19,470		87	%
Total Gold					744,000		0.037		27,860		2,812,000		0.025		70,890		3,556,000		0.028		98,750		80	%

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				December 31, 2010(1)
				Proven Reserves						Probable Reserves						Proven and Probable Reserves
Deposits/Districts	Newmont Share			Tonnage(2)		Grade (oz/ton)		Ounces(3)		Tonnage(2)		Grade (oz/ton)		Ounces(3)		Tonnage(2)		Grade (oz/ton)		Ounces(3)		Metallurgical Recovery(3)
				(000)				(000)		(000)				(000)		(000)				(000)
North America
Carlin Open Pits, Nevada		100	%		36,600		0.064		2,340		226,900		0.040		8,980		263,500		0.043		11,320	75%
Carlin Underground, Nevada		100	%		5,800		0.272		1,570		8,800		0.330		2,910		14,600		0.307		4,480	88%
Midas, Nevada		100	%		200		0.394		100		300		0.264		90		500		0.319		190	95%
Phoenix, Nevada		100	%		—				—		329,800		0.018		6,090		329,800		0.018		6,090	73%
Twin Creeks, Nevada		100	%		11,400		0.097		1,110		46,400		0.071		3,280		57,800		0.076		4,390	79%
Turquoise Ridge, Nevada(6)		25	%		1,400		0.458		640		1,700		0.456		770		3,100		0.457		1,410	92%
Nevada In-Process(7)		100	%		28,500		0.022		610		—				—		28,500		0.022		610	62%
Nevada Stockpiles(8)		100	%		33,900		0.077		2,630		2,800		0.028		80		36,700		0.074		2,710	78%
Total Nevada					117,800		0.076		9,000		616,700		0.036		22,200		734,500		0.042		31,200	78%
La Herradura, Mexico		44	%		44,600		0.023		1,010		61,100		0.021		1,280		105,700		0.022		2,290	66%
					162,400		0.062		10,010		677,800		0.035		23,480		840,200		0.040		33,490	77%
South America
Conga, Peru		51.35	%		—				—		317,200		0.019		6,080		317,200		0.019		6,080	79%
Yanacocha, Peru Open Pits		51.35	%		23,500		0.028		650		118,800		0.032		3,790		142,300		0.031		4,440	70%
Yanacocha, Peru In-Process(7)		51.35	%		21,300		0.025		540		—				—		21,300		0.025		540	74%
Total Yanacocha, Peru		51.35	%		44,800		0.027		1,190		118,800		0.032		3,790		163,600		0.030		4,980	71%
La Zanja, Peru		46.94	%		10,100		0.018		180		10,500		0.016		160		20,600		0.017		340	66%
					54,900		0.025		1,370		446,500		0.022		10,030		501,400		0.023		11,400	75%
Asia Pacific
Batu Hijau Open Pit		48.50	%		168,800		0.014		2,420		124,600		0.006		700		293,400		0.011		3,120	78%
Batu Hijau Stockpiles(8)		48.50	%		—				—		170,700		0.004		610		170,700		0.004		610	69%
Total Batu Hijau, Indonesia		48.50	%		168,800		0.014		2,420		295,300		0.004		1,310		464,100		0.008		3,730	76%
Boddington, Western Australia		100	%		181,900		0.021		3,760		885,900		0.019		16,540		1,067,800		0.019		20,300	82%
Duketon, Western Australia		16.22	%		1,800		0.056		100		4,500		0.055		250		6,300		0.055		350	94%
Jundee, Western Australia		100	%		3,100		0.051		160		1,600		0.373		600		4,700		0.160		760	91%
Kalgoorlie Open Pit and Underground		50	%		15,000		0.061		910		40,700		0.059		2,390		55,700		0.059		3,300	85%
Kalgoorlie Stockpiles(8)		50	%		15,100		0.031		470		—				—		15,100		0.031		470	78%
Total Kalgoorlie, Western Australia		50	%		30,100		0.046		1,380		40,700		0.059		2,390		70,800		0.053		3,770	84%
Tanami, Northern Territories		100	%		6,400		0.151		970		7,900		0.134		1,070		14,300		0.142		2,040	95%
Waihi, New Zealand		100	%		—				—		4,200		0.110		460		4,200		0.110		460	89%
					392,100		0.022		8,790		1,240,100		0.018		22,620		1,632,200		0.019		31,410	83%
Africa
Ahafo Open Pits		100	%		—				—		148,300		0.064		9,540		148,300		0.064		9,540	87%
Ahafo Stockpiles(8)		100	%		14,100		0.033		460		—				—		14,100		0.033		460	86%
Total Ahafo, Ghana		100	%		14,100		0.033		460		148,300		0.064		9,540		162,400		0.062		10,000	87%
Akyem, Ghana		100	%		—				—		137,900		0.052		7,200		137,900		0.052		7,200	88%
					14,100		0.033		460		286,200		0.059		16,740		300,300		0.057		17,200	88%
Total Gold					623,500		0.033		20,630		2,650,600		0.027		72,870		3,274,100		0.029		93,500	81%

⁽¹⁾  The term “reserve” means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination.

The term “economically,” as used in the definition of reserve, means that profitable extraction or production has been established or analytically demonstrated in a full feasibility study to be viable and justifiable under reasonable investment and market assumptions.

The term “legally,” as used in the definition of reserve, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Newmont must have a justifiable expectation, based on

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applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Newmont’s current mine plans.

The term “proven reserves” means reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; (b) grade and/or quality are computed from the results of detailed sampling; and (c) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is sufficiently defined that size, shape, depth and mineral content of reserves are well established.

The term “probable reserves” means reserves for which quantity and grade are computed from information similar to that used for proven reserves, but the sites for sampling are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation.

Proven and probable reserves include gold, copper or silver attributable to Newmont’s ownership or economic interest.

Proven and probable reserves were calculated using different cut-off grades. The term “cut-off grade” means the lowest grade of mineralized material considered economic to process. Cut-off grades vary between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper or silver extraction and type of milling or leaching facilities available.

2011 reserves were calculated at a gold price of $1,200, A$1,250 or NZ$1,600 per ounce unless otherwise noted.

2010 reserves were calculated at a gold price of $950, A$1,100 or NZ$1,350 per ounce unless otherwise noted.

⁽²⁾  Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to the nearest 100,000.

⁽³⁾  Ounces or pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces are rounded to the nearest 10,000.

⁽⁴⁾  Includes reserves currently being developed at the Emigrant deposit of 1.6 million ounces of gold.

⁽⁵⁾  Gold cut-off grade varies with level of copper and silver credits.

⁽⁶⁾  Reserve estimates provided by Barrick, the operator of the Turquoise Ridge joint venture.

⁽⁷⁾  In-process material is the material on leach pads at the end of the year from which gold remains to be recovered. In-process material reserves are reported separately where tonnage or ounces are greater than 5% of the total site-reported reserves and ounces are greater than 100,000.

⁽⁸⁾  Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where tonnage or ounces are greater than 5% of the total site-reported reserves and ounces are greater than 100,000.

⁽⁹⁾  Cut-off grades utilized in Nevada 2011 gold reserves were as follows: oxide leach material not less than 0.006 ounce per ton; oxide mill material not less than 0.026 ounce per ton; flotation material not less than 0.016 ounce per ton; and refractory mill material not less than 0.032 ounce per ton.

⁽¹⁰⁾  Cut-off grade utilized in 2011 reserves not less than 0.009 ounce per ton.

⁽¹¹⁾  Project is currently under development. Gold cut-off grade varies with level of copper and silver credits.

⁽¹²⁾  Reserves include the currently undeveloped deposit at La Quinua Sur, which contains attributable reserves of 0.9 million ounces. Cut-off grades utilized in 2011 reserves were as follows: oxide leach material not less than 0.004 ounce per ton; and oxide mill material not less than 0.013 ounce per ton.

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⁽¹³⁾  Reserve estimates provided by Buenaventura, the operator of the La Zanja project. Cut-off grade utilized in 2011 reserves not less than 0.004 ounce per ton.

⁽¹⁴⁾  Percentage reflects Newmont’s economic interest since December 31, 2010.

⁽¹⁵⁾  Reserve estimates provided by Regis Resources Ltd., in which Newmont holds a 16.85% interest, up from a 16.22% interest in 2010. Gold cut-off grades utilized in 2011 reserves not less than 0.015 ounce per ton.

⁽¹⁶⁾  Cut-off grade utilized in 2011 reserves not less than 0.020 ounce per ton.

⁽¹⁷⁾  Cut-off grade utilized in 2011 reserves not less than 0.015 ounce per ton.

⁽¹⁸⁾  Cut-off grade utilized in 2011 reserves not less than 0.045 ounce per ton.

⁽¹⁹⁾  Cut-off grade utilized in 2011 reserves not less than 0.015 ounce per ton.

⁽²⁰⁾  Includes undeveloped reserves at seven pits in the Ahafo trend totaling 3.2 million ounces. Cut-off grade utilized in 2011 reserves not less than 0.019 ounce per ton.

⁽²¹⁾  Project is currently under development. Cut-off grade utilized in 2011 reserves not less than 0.018 ounce per ton.

The following tables detail copper proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2011 and 2010:

	December 31, 2011(1)
				Proven Reserves							Probable Reserves							Proven and Probable Reserves
Deposits/Districts	Newmont Share			Tonnage(2)		Grade (Cu %)			Pounds(3)		Tonnage(2)		Grade (Cu %)			Pounds(3)		Tonnage(2)		Grade (Cu %)			Pounds(3)		Metallurgical Recovery(3)
				(000)					(millions)		(000)					(millions)		(000)					(millions)
North America
Phoenix Mill, Nevada(4)		100	%		24,900		0.15	%		70		425,400		0.14	%		1,230		450,300		0.15	%		1,300		61	%
Phoenix Copper Leach, Nevada(5)		100	%		9,900		0.24	%		50		160,300		0.22	%		690		170,200		0.22	%		740		55	%
					34,800		0.17	%		120		585,700		0.16	%		1,920		620,500		0.16	%		2,040		58	%
South America
Conga, Peru(6)		51.35	%		—					—		303,400		0.28	%		1,690		303,400		0.28	%		1,690		85	%
					—					—		303,400		0.28	%		1,690		303,400		0.28	%		1,690		85	%
Asia Pacific
Batu Hijau Open Pit(7)		48.50	%		127,600		0.51	%		1,300		196,100		0.35	%		1,370		323,700		0.41	%		2,670		76	%
Batu Hijau Stockpiles(7)(8)		48.50	%		—					—		156,900		0.34	%		1,060		156,900		0.34	%		1,060		66	%
Total Batu Hijau, Indonesia		48.50	%		127,600		0.51	%		1,300		353,000		0.34	%		2,430		480,600		0.39	%		3,730		73	%
Boddington, Western Australia(9)		100	%		181,800		0.10	%		350		871,700		0.11	%		1,910		1,053,500		0.11	%		2,260		83	%
					309,400		0.27	%		1,650		1,224,700		0.18	%		4,340		1,534,100		0.20	%		5,990		77	%
Total Copper					344,200		0.26	%		1,770		2,113,800		0.19	%		7,950		2,458,000		0.20	%		9,720		74	%

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	December 31, 2010(1)
				Proven Reserves							Probable Reserves							Proven and Probable Reserves
Deposits/Districts	Newmont Share			Tonnage(2)		Grade (Cu %)			Pounds(3)		Tonnage(2)		Grade (Cu %)			Pounds(3)		Tonnage(2)		Grade (Cu %)			Pounds(3)		Metallurgical Recovery(3)
				(000)					(millions)		(000)					(millions)		(000)					(millions)
North America
Phoenix Mill, Nevada		100	%		—					—		332,600		0.15	%		1,030		332,600		0.15	%		1,030		61	%
Phoenix Copper Leach, Nevada		100	%		—					—		132,900		0.23	%		610		132,900		0.23	%		610		53	%
					—					—		465,500		0.18	%		1,640		465,500		0.18	%		1,640		58	%
South America
Conga, Peru		51.35	%		—					—		317,200		0.26	%		1,660		317,200		0.26	%		1,660		85	%
					—					—		317,200		0.26	%		1,660		317,200		0.26	%		1,660		85	%
Asia Pacific
Batu Hijau Open Pit		48.50	%		168,800		0.50	%		1,700		124,600		0.34	%		860		293,400		0.44	%		2,560		80	%
Batu Hijau Stockpiles(8)		48.50	%		—					—		170,700		0.35	%		1,200		170,700		0.35	%		1,200		66	%
Total Batu Hijau, Indonesia		48.50	%		168,800		0.50	%		1,700		295,300		0.35	%		2,060		464,100		0.40	%		3,760		76	%
Boddington, Western Australia		100	%		181,900		0.10	%		380		885,900		0.11	%		1,980		1,067,800		0.11	%		2,360		84	%
					350,700		0.30	%		2,080		1,181,200		0.17	%		4,040		1,531,900		0.20	%		6,120		79	%
Total Copper					350,700		0.30	%		2,080		1,963,900		0.19	%		7,340		2,314,600		0.20	%		9,420		76	%

⁽¹⁾  See footnote (1) to the Gold Proven and Probable Reserves tables above. Copper reserves for 2011 were calculated at a copper price of $3.00 or A$3.15 per pound. 2010 copper reserves were calculated at a copper price of $2.50 or A$2.95 per pound.

⁽²⁾  See footnote (2) to the Gold Proven and Probable Reserves tables above. Tonnages are rounded to nearest 100,000.

⁽³⁾  See footnote (3) to the Gold Proven and Probable Reserves tables above. Pounds are rounded to the nearest 10 million.

⁽⁴⁾  Copper cut-off grade varies with level of gold and silver credits.

⁽⁵⁾  Copper cut-off grade varies with level of leach solubility. Leach pad and associated facilities under construction.

⁽⁶⁾  Project is currently under development. Copper cut-off grade varies with level of gold and silver credits.

⁽⁷⁾  Percentage reflects Newmont’s economic interest since December 31, 2010. Copper cut-off grade varies with level of gold and silver credits.

⁽⁸⁾  Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpiles are reported separately where tonnage or contained metal is greater than 5% of the total site reported reserves.

⁽⁹⁾  Copper cut-off grade varies with level of gold credits.

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The following table details silver proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2011:

	December 31, 2011(1)
				Proven Reserves						Probable Reserves						Proven and Probable Reserves
Deposits/Districts	Newmont Share			Tonnage(2)		Grade (oz/ton)		Ounces(3)		Tonnage(2)		Grade (oz/ton)		Ounces(3)		Tonnage(2)		Grade (oz/ton)		Ounces(3)		Metallurgical Recovery(3)
				(000)				(000)		(000)				(000)		(000)				(000)
North America
Midas, Nevada(4)		100	%		300		4.624		1,200		500		8.629		4,050		800		7.201		5,250		88	%
Phoenix, Nevada(5)		100	%		24,900		0.250		6,250		425,400		0.244		103,730		450,300		0.244		109,980		36	%
					25,200		0.296		7,450		425,900		0.253		107,780		451,100		0.255		115,230		38	%
South America
Conga, Peru		51.35	%		—				—		303,400		0.064		19,400		303,400		0.064		19,400		70	%
Yanacocha Open Pits		51.35	%		18,500		0.081		1,490		71,100		0.137		9,750		89,600		0.125		11,240		25	%
Yanacocha Stockpiles(6)		51.35	%		1,300		0.363		460		4,800		1.466		6,970		6,100		1.235		7,430		36	%
Yanacocha In-Process(7)		51.35	%		—				—		59,500		0.485		28,840		59,500		0.485		28,840		12	%
Total Yanacocha, Peru(8)		51.35	%		19,800		0.099		1,950		135,400		0.337		45,560		155,200		0.306		47,510		19	%
					19,800		0.099		1,950		438,800		0.148		64,960		458,600		0.146		66,910		34	%
Asia Pacific
Batu Hijau Open Pit(9)		48.50	%		127,600		0.047		5,940		196,100		0.023		4,470		323,700		0.032		10,410		78	%
Batu Hijau Stockpiles(6)(9)		48.50	%		—				—		156,900		0.015		2,430		156,900		0.015		2,430		72	%
Total Batu Hijau, Indonesia		48.50	%		127,600		0.047		5,940		353,000		0.020		6,900		480,600		0.027		12,840		76	%
					127,600		0.047		5,940		353,000		0.020		6,900		480,600		0.027		12,840		76	%
Total Silver					172,600		0.089		15,340		1,217,700		0.148		179,640		1,390,300		0.140		194,980		39	%

⁽¹⁾  See footnote (1) to the Gold Proven and Probable Reserves tables above. Silver reserves for 2011 were calculated at a silver price of $22.00 or A$23.00 per ounce. Silver reserves for 2010 were calculated at a silver price of $15.00 or A$17.50 per ounce.

⁽²⁾  See footnote (2) to the Gold Proven and Probable Reserves tables above. Tonnages are rounded to nearest 100,000 unless they are less than 50,000.

⁽³⁾  See footnote (3) to the Gold Proven and Probable Reserves tables above.

⁽⁴⁾  2010 contained reserves of 2.8 million ounces with a metallurgical recovery of 88%.

⁽⁵⁾  2010 contained reserves of 86.3 million ounces with a metallurgical recovery of 36%

⁽⁶⁾  Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where tonnage or ounces are greater than 5% of the total site-reported reserves and ounces are greater than 100,000.

⁽⁷⁾  In-process material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process material reserves are reported separately where tonnage or ounces are greater than 5% of the total site-reported reserves and ounces are greater than 100,000.

⁽⁸⁾  2010 contained attributable reserves of 16.5 million ounces with a metallurgical recovery of 21%.

⁽⁹⁾  Percentage reflects Newmont’s economic interest since December 31, 2010. 2010 contained attributable reserves of 12.9 million ounces with a metallurgical recovery of 78%.

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The following table reconciles year-end 2011 and 2010 gold and copper proven and probable reserves:

	Gold Ounces			Copper Pounds
	(in millions)			(in millions)
December 31, 2010		93.5			9,420
Depletion(1)		(6.3	)		(330	)
Revisions and additions, net(2)		11.6			630
December 31, 2011		98.8			9,720

⁽¹⁾  Reserves mined and processed in 2011.

⁽²⁾  Revisions and additions are due to reserve conversions, optimizations, model updates, metal price changes and updated operating costs and recoveries.

ITEM 3.    LEGAL PROCEEDINGS

For a discussion of legal proceedings, see Note 31 to the Consolidated Financial Statements.

ITEM 4A.    EXECUTIVE OFFICERS OF THE REGISTRANT

Newmont’s executive officers at February 15, 2012 were:

Name	Age		Office
Richard T. O’Brien		57	President and Chief Executive Officer
Russell Ball		43	Executive Vice President and Chief Financial Officer
Gary J. Goldberg		53	Executive Vice President and Chief Operating Officer
Randy Engel		45	Executive Vice President, Strategic Development
Brian A. Hill		52	Executive Vice President, Sustainability and External Affairs
Guy Lansdown		51	Executive Vice President, Discovery and Development
William N. MacGowan		54	Executive Vice President, Human Resources and Communications
Jeffrey R. Huspeni		56	Senior Vice President, Asia Pacific Operations
Thomas Kerr		51	Senior Vice President, North American Operations
Carlos Santa Cruz		56	Senior Vice President, South American Operations
David Schummer		40	Senior Vice President, African Operations
Stephen P. Gottesfeld		44	Vice President, General Counsel and Corporate Secretary
David Gutierrez		57	Vice President, Planning and Tax
David Ottewell		51	Vice President and Controller
Thomas P. Mahoney		56	Vice President and Treasurer

There are no family relationships by blood, marriage or adoption among any of the above executive officers or members of the Board of Directors of Newmont. Each executive officer is elected annually by the Board of Directors of Newmont to serve for one year or until his respective successor is

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elected and qualified. There is no arrangement or understanding between any of the above executive officers and any other person pursuant to which he was selected as an executive officer.

Mr. O’Brien was elected President and Chief Executive Officer in July 2007, having served as President and Chief Financial Officer from April 2007 to July 2007, Executive Vice President and Chief Financial Officer from September 2006 to April 2007 and Senior Vice President and Chief Financial Officer during 2005 and 2006. Mr. O’Brien was Executive or Senior Vice President and Chief Financial Officer of AGL Resources from 2001 to 2005.

Mr. Ball was elected Executive Vice President and Chief Financial Officer in October 2008, having served as Senior Vice President and Chief Financial Officer since July 2007. Mr. Ball served as Vice President and Controller from 2004 to 2007. Previously, he served as Group Executive, Investor Relations, from 2002 to 2004 and as Financial Director and Controller for Newmont’s Indonesian business unit. Mr. Ball joined Newmont in 1994 as senior internal auditor after practicing as a Chartered Accountant (SA) with Coopers and Lybrand in Durban, South Africa.

Mr. Goldberg was elected Executive Vice President and Chief Operating Officer in December 2011, when he joined Newmont. Mr. Goldberg previously served as President and Chief Executive Officer, Rio Tinto Minerals since 2006 and President and Chief Executive Officer, Rio Tinto Borax from 2004 to 2006.

Mr. Engel was elected Executive Vice President, Strategic Development, in October 2008, having served as Senior Vice President, Strategy and Corporate Development, since July 2007. Mr. Engel served as Vice President, Strategic Planning and Investor relations from 2006 to 2007; Group Executive, Investor Relations from 2004 to 2006; and Assistant Treasurer from 2001 to 2004. Mr. Engel has been with Newmont since 1994, and has served in various capacities in the areas of business planning, corporate treasury and human resources.

Mr. Hill was elected Executive Vice President, Sustainability and External Affairs, in December 2011 having served as Executive Vice President, Operations since October 2008. Mr. Hill served as Vice President, Asia Pacific Operations, in 2008. Mr. Hill previously served as Managing Director and Chief Executive Officer of Norilsk Nickel Australia Pty Ltd in 2007; Managing Director and Chief Executive Officer of Equatorial Mining Ltd from 2004 to 2006; and Managing Director of Falconbridge (Australia) Pty Ltd from 2000 to 2004.

Mr. Lansdown was elected Executive Vice President, Discovery and Development, in October 2008, having previously served as Senior Vice President, Project Development and Operations Services, since July 2007. Mr. Lansdown served as Vice President, Project Engineering and Construction from 2006 to 2007; Project Executive, Boddington, from 2005 to 2006; and Operations Manager, Yanacocha from 2003 to 2005. Mr. Lansdown joined Newmont in 1993 after serving as an associate with Knight Piesold and as the manager of projects for Group Five in South Africa.

Mr. MacGowan was elected Executive Vice President, Human Resources and Communications, in February 2010, when he joined Newmont. Mr. MacGowan previously served as Executive Vice President and Chief Human Resources Officer, People and Places from 2006 to 2010; Senior Vice President, Human Resources, 2004 to 2006; Vice President, Human Resources, Global Centers of Expertise, 2002 to 2004; Vice President, Human Resources, Engineering and Operations, 2001 to 2002; Vice President, Human Resources, Enterprise Services, 1999 to 2001 and; Director, Human Resources, Enterprise Services, 1998 to 1999 for Sun Microsystems.

Mr. Huspeni was elected Senior Vice President, Asia Pacific Operations, in April 2011, having served as Senior Vice President, African Operations, since October 2008. Mr. Huspeni previously served as Vice President, African Operations in 2008, Vice President, Exploration Business Development from 2005 to 2008 and Vice President, Mineral District Exploration, from 2002 to 2005.

Mr. Schummer was elected Senior Vice President, African Operations in April 2011, having previously served as Group Executive Operations, North America and Group Executive Business Excellence since 2010, General Manager Operations Yanacocha, Peru from 2007 to 2010, Mine Manager and Mine Superintendent at Yanacocha, Peru from 2003 to 2006. Previously, he served as Mine Superintendent and General Foreman in Sumbawa, Indonesia for the Batu Hijau Project from 1999 to 2003.

Mr. Kerr was elected Senior Vice President, North American Operations, in December 2009, having served as Vice President, Newmont USA Limited, North American Operations since November

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2008. Mr. Kerr previously served as Phoenix Project Manager, Senior Manager-Surface Operations and General Manager-Twin Creeks Operation from 2004 to 2008, Midas Site Manager from 2003 to 2004 and Project Manager of Newmont’s Corporate Development Transformation Project from 2002 to 2003.

Mr. Gottesfeld was elected Vice President and General Counsel in January 2010 and Corporate Secretary in July 2011 after serving as Vice President, Communications and Public Affairs since 2006. Mr. Gottesfeld was Newmont’s Associate General Counsel from 2004 to 2006, responsible for Newmont’s Latin American, African and Central Asian legal affairs. From 2002 to 2004, Mr. Gottesfeld was Newmont’s Associate General Counsel and General Manager of Newmont Peru S.R.L., working in Lima, Peru. Prior to joining Newmont in 1997 as senior counsel, Mr. Gottesfeld was an associate at the law firm of Holland & Hart LLP.

Mr. Gutierrez was elected Vice President, Planning and Tax in November 2009, having served as Vice President, Accounting and Tax from 2007 to 2009 and Vice President, Tax from 2005 to 2007. Prior to joining Newmont he was a partner with KPMG LLP from 2002 to 2005, serving as the Denver office Tax Managing Partner from 2003 to 2005.

Mr. Ottewell was elected Vice President and Controller in July 2011, having served as Assistant Controller since 2007 and as Senior Director of Financial Reporting from 2005 to 2007. Prior to joining the Company, Mr. Ottewell provided consulting services to the Company and other clients in 2004 and held the position of Controller and Principal Accounting Officer at Echo Bay Mines Limited from 1999 to 2003.

Mr. Mahoney was elected Vice President and Treasurer of Newmont in 2002. He served as Treasurer of Newmont from 2001 to 2002. Previously, he served as Assistant Treasurer from 1997 to 2001. Mr. Mahoney joined Newmont as Assistant Treasurer, International in 1994.

ITEM 4B.    MINE SAFETY DISCLOSURES

At Newmont, safety is a core value and we strive for superior performance. Our health and safety management system, which includes detailed standards and procedures for safe production, addresses topics such as employee training, risk management, workplace inspection, emergency response, accident investigation and program auditing. In addition to strong leadership and involvement from all levels of the organization, these programs and procedures form the cornerstone of safety at Newmont, ensuring that employees are provided a safe and healthy environment and are intended to reduce workplace accidents, incidents and losses, comply with all mining-related regulations and provide support for both regulators and the industry to improve mine safety.

In addition, we have established our “Rapid Response” process to mitigate and prevent the escalation of adverse consequences if existing risk management controls fail, particularly if an incident may have the potential to seriously impact the safety of employees, the community or the environment. This process provides appropriate support to an affected site to complement their technical response to an incident, so as to reduce the impact by considering the environmental, strategic, legal, financial and public image aspects of the incident, to ensure communications are being carried out in accordance with legal and ethical requirements and to identify actions in addition to those addressing the immediate hazards.

The operation of our U.S. based mines is subject to regulation by the Federal Mine Safety and Health Administration (“MSHA”) under the Federal Mine Safety and Health Act of 1977 (the “Mine Act”). MSHA inspects our mines on a regular basis and issues various citations and orders when it believes a violation has occurred under the Mine Act. Following passage of The Mine Improvement and New Emergency Response Act of 2006, MSHA significantly increased the numbers of citations and orders charged against mining operations. The dollar penalties assessed for citations issued has also increased in recent years.

Newmont is required to report certain mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K, and that required information is included in Exhibit 95 and is incorporated by reference into this Annual Report.

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PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES

Our common stock is listed and principally traded on the New York Stock Exchange under the symbol “NEM”.

On November 9, 2009, Newmont announced its intention to seek removal from the official list of the Australian Stock Exchange (“ASX”) and to suspend trading of the CHESS Depositary Interests (“CDIs”). The announcement was due to a low level of CDIs quoted on the ASX with low levels of trading when compared to other exchanges where it may trade. Further, investors seeking to purchase shares in Newmont could do so on the NYSE. The CDIs were suspended from trading on the ASX on February 10, 2010 and removed from the official list of the ASX on February 17, 2010.

Newmont Mining Corporation of Canada Limited’s exchangeable shares are listed on the Toronto Stock Exchange under the symbol “NMC”. On December 15, 2011, as a result of a plan of arrangement, holders of exchangeable shares received, at their election, for each existing exchangeable share, one new exchangeable share of Newmont Mining Corporation of Canada Limited or one share of Newmont common stock. In connection with the plan of arrangement, 1.6 million shares were converted from exchangeable shares to Newmont common stock. For a description of the arrangement, please see our Form 8-K filed with the SEC on December 19, 2012.

On February 15, 2012, there were 4,914,758 exchangeable shares outstanding, which were held by 14 holders of record. The exchangeable shares are exchangeable at the option of the holders into Newmont common stock. Holders of Exchangeable Shares are therefore entitled to receive dividends equivalent to those that Newmont declares on its common stock.

The following table sets forth, for the periods indicated, the closing high and low sales prices per share of Newmont’s common stock as reported on the New York Stock Exchange Composite Tape:

	2011				2010
	High		Low		High		Low
First quarter	$	61.09	$	50.39	$	51.94	$	42.86
Second quarter	$	59.23	$	51.59	$	61.74	$	51.53
Third quarter	$	69.90	$	53.74	$	64.94	$	55.40
Fourth quarter	$	72.13	$	59.42	$	64.72	$	58.09

On February 15, 2012, there were 490,150,298 shares of Newmont’s common stock outstanding, which were held by approximately 12,184 stockholders of record. Dividends of $0.15, $0.20, $0.30 and $0.35 per share of common stock outstanding were declared in the first, second, third and fourth quarters, respectively, of 2011, for a total of $1.00 per share during 2011. A dividend of $0.10 per share of common stock outstanding was declared in the first and second quarters of 2010, while a dividend of $0.15 per share of common stock outstanding was declared in the third and fourth quarters of 2010, for a total of $0.50 per share during 2010.

In April 2011, the Company introduced the first gold price-linked dividend policy, followed by the announcement of an enhanced gold price-linked dividend policy in September 2011, under which the Company’s annual dividend has the potential to increase to $4.70 per share if the Company’s average realized gold price exceeds $2,500 per ounce. Under the policy, unless otherwise determined by the

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Board of Directors (the “Board”), the dividend will be calculated based upon the average gold price realized by the Company during the preceding quarter in the manner highlighted in the table below:

Average Realized Gold Price	Quarterly Dividend	Annualized Dividend
$1,100 - $1,199	$0.100	$0.40
$1,200 - $1,299	$0.150	$0.60
$1,300 - $1,399	$0.200	$0.80
$1,400 - $1,499	$0.250	$1.00
$1,500 - $1,599	$0.300	$1.20
$1,600 - $1,699	$0.350	$1.40
$1,700 - $1,799	$0.425	$1.70
$1,800 - $1,899	$0.500	$2.00
$1,900 - $1,999	$0.575	$2.30
$2,000 - $2,099	$0.675	$2.70
$2,100 - $2,199	$0.775	$3.10
$2,200 - $2,299	$0.875	$3.50
$2,300 - $2,399	$0.975	$3.90
$2,400 - $2,499	$1.075	$4.30
$2,500 - $2,599	$1.175	$4.70

This dividend policy is intended as a non-binding guideline which will be periodically reviewed and reassessed by the Board. The declaration and payment of future dividends remains at the discretion of the Board and will depend on the Company’s financial results, cash requirements, future prospects and other factors deemed relevant by the Board.

During the period from October 1, 2011 to December 31, 2011, 2,264 shares of Newmont’s equity securities registered pursuant to Section 12 of the Exchange Act of 1934, as amended, were purchased by the Company, or an affiliated purchaser.

	(a)			(b)		(c)		(d)
Period	Total Number of Shares Purchased			Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Maximum Number (or Approximate Dollar Value) of Shares that may yet  be Purchased under the Plans or Programs
October 1, 2011 through October 31, 2011		—			—		—		N/A
November 1, 2011 through November 30, 2011		—			—		—		N/A
December 1, 2011 through December 31, 2011		2,264	(1)	$	66		—		N/A

⁽¹⁾  These shares were acquired in connection with a stock swap transaction related to the exercise of stock options.

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ITEM 6. SELECTED FINANCIAL DATA (dollars in millions, except per share)

	Years Ended December 31,
	2011			2010			2009			2008		2007
Sales	$	10,358		$	9,540		$	7,705		$	6,124	$	5,465
Income (loss) from continuing operations	$	1,108		$	3,144		$	2,109		$	1,147	$	(580	)
Net income (loss)	$	972		$	3,116		$	2,093		$	1,160	$	(1,485	)
Net income (loss) attributable to Newmont stockholders (1)	$	366		$	2,277		$	1,297		$	831	$	(1,895	)
Income (loss) per common share:
Basic:
Continuing operations	$	1.02		$	4.69		$	2.68		$	1.80	$	(2.18	)
Discontinued operations		(0.28	)		(0.06	)		(0.02	)		0.03		(2.01	)
	$	0.74		$	4.63		$	2.66		$	1.83	$	(4.19	)
Diluted:
Continuing operations	$	1.00		$	4.61		$	2.68		$	1.80	$	(2.18	)
Discontinued operations		(0.27	)		(0.06	)		(0.02	)		0.03		(2.01	)
	$	0.73		$	4.55		$	2.66		$	1.83	$	(4.19	)
Dividends declared per common share	$	1.00		$	0.50		$	0.40		$	0.40	$	0.40
		At December 31,
	2011			2010			2009			2008		2007
Total assets	$	27,474		$	25,663		$	22,299		$	15,727	$	15,474
Debt, including current portion	$	4,313		$	4,441		$	4,809		$	3,237	$	2,597
Newmont stockholders’ equity	$	12,896		$	13,345		$	10,703		$	7,291	$	7,759

⁽¹⁾  Net income (loss) attributable to Newmont stockholders includes income (loss) from discontinued operations of $(136), $(28), $(11), $15 and $(907) net of tax in 2011, 2010, 2009, 2008 and 2007, respectively.

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ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF CONSOLIDATED FINANCIAL CONDITION AND RESULTS OF OPERATIONS (dollars in millions, except per share, per ounce and per pound amounts)

The following discussion provides information that management believes is relevant to an assessment and understanding of the consolidated financial condition and results of operations of Newmont Mining Corporation and its subsidiaries (collectively, “Newmont,” the “Company,” “our” and “we”). We use certain non-GAAP financial performance measures in our MD&A. For a detailed description of each of the non-GAAP measures used in this MD&A, please see the discussion under “Non-GAAP Financial Performance Measures” beginning on page 83. References to “A$” refer to Australian currency, “C$” to Canadian currency, “NZ$” to New Zealand currency, “IDR” to Indonesian currency and “$” to United States currency.

This discussion addresses matters we consider important for an understanding of our consolidated financial condition and results of operations at and for the three years ended December 31, 2011, as well as forward looking information. It consists of the following subsections:

• “Overview,” which provides a brief summary of our consolidated results and financial position and the primary factors affecting those results, as well as a summary of our expectations for 2012;

• “Accounting Developments,” which provides a discussion of recent changes to our accounting policies that have affected, or recently issued pronouncements that could have a material impact on, our consolidated results and financial position;

• “Critical Accounting Policies,” which provides an analysis of the accounting policies we consider critical because of their effect on the reported amounts of assets, liabilities, income and/or expenses in our consolidated financial statements and/or because they require difficult, subjective or complex judgments by our management;

• “Consolidated Financial Results,” which includes a discussion of our consolidated financial results for the last three years;

• “Results of Consolidated Operations,” which provides an analysis of the regional operating results for the last three years;

• “Liquidity and Capital Resources,” which contains a discussion of our cash flows and liquidity, investing activities and financing activities, contractual obligations and off-balance sheet arrangements; and

• “Non-GAAP Financial Measures,” which includes descriptions of the various non-GAAP financial performance measures used by management, the reasons for their usage and a tabular reconciliation of these measures to the closest equivalent generally accepted accounting principle (“GAAP”) measure.

This item should be read in conjunction with our consolidated financial statements and the notes thereto included in this annual report.

Overview

Newmont is one of the world’s largest gold producers and is the only gold company included in the S&P 500 Index and the Fortune 500, and has been included in the Dow Jones Sustainability Index-World for five consecutive years. We are also engaged in the exploration for and acquisition of gold and gold/copper properties. We have significant operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, Mexico and New Zealand.

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Our vision is to be the most valued and respected mining company through industry leading performance. In 2011, we successfully executed on the key benchmarks that we set out at the beginning of the year.

Delivering strong operating performance.

• Record Cash flow from continuing operations of $3,591, an increase of 13% over 2010;

• Gold operating margin (see “Non-GAAP Financial Measures” on page 83) of $971 per ounce in 2011, an increase of 32% over 2010 compared to an increase of 28% in the average realized gold price for the same period;

• Record Sales of $10,358, an increase of 9% over 2010;

• Consolidated gold production of approximately 5.9 million ounces (5.2 million ounces attributable to Newmont) at Costs applicable to sales of $591 per ounce;

• Consolidated copper production of approximately 352 million pounds (206 million pounds attributable to Newmont) at Costs applicable to sales of $1.26 per pound;

• Net income attributable to Newmont stockholders of $0.74 per share, Adjusted net income (see “Non-GAAP Financial Measures” on page 83) of $4.39 per share; and

• Net increase of 5.3 million ounces of gold reserves, after depletion, to a record 98.8 million ounces at December 31, 2011.

Advancing our project pipeline.

Our current plans reflect the intended development of assets within our global development portfolio to increase annual attributable gold production to approximately 7 million ounces by 2017. This production target represents a potential increase of approximately 35% in anticipated 2017 annual production from the Company’s 2011 attributable gold production of 5.2 million ounces. We also manage our wider project portfolio to maintain flexibility to address the development risks associated with our projects, including permitting, local community and government support, engineering and procurement availability, technical issues, escalating costs and other associated risks that could adversely impact the timing and costs of certain opportunities.

Our development opportunities that have advanced to full funding approval during 2011, and comprise a significant part of the Company’s growth strategy, include Akyem in Ghana, Conga in Peru and the Tanami Shaft in Australia, as described further below.

Akyem, Ghana.    Since full funding approval by the Board of Directors (the “Board”) in March 2011, the project has continued to advance with award of the main civil and mechanical construction contracts, commencement of bulk earthworks, major civil work and underground utilities. First structural concrete was placed in August 2011 and the establishment of the first set of households at the resettlement villages took place in October 2011. First production is expected in late 2013 to early 2014 with approximately three to six months expected for ramp-up to commercial production. Gold production is expected to be approximately 350,000 to 450,000 ounces per year at Costs applicable to sales of $450 to $550 per ounce for the first five years of the mine’s operating life of approximately 16 years (based on current gold reserves). Capital costs are estimated at $850 to $1,100, of which approximately $450 have been incurred at December 31, 2011. At December 31, 2011, we reported 7.4 million ounces of gold reserves at Akyem.

Conga, Peru.    Following the full funding approval by the Board in July 2011, the project progressed infrastructure works, earthworks construction, drilling, detailed engineering and procurement of equipment and materials. Construction activities on the Conga project were suspended on November 30, 2011, at the request of Peru’s central government following increasing protests in Cajamarca by anti-mining activists led by the regional president. At the request of the Peruvian central

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government, the environmental impact assessment prepared in connection with the project, which was previously approved by the central government in October 2010, will be reviewed by independent experts in an effort to resolve allegations around the environmental viability of Conga. Construction will remain suspended for the duration of the review; however, progress continues on engineering and procurement work. Should we be unable to continue with the current development plan at Conga, we may reprioritize and reallocate capital to development alternatives in Nevada, Australia, Ghana and Indonesia. If the project proceeds, gold production is expected to be approximately 300,000 to 350,000 attributable ounces per year during the first five years of production at average Costs applicable to sales of $400 to $450 per ounce. Copper production is expected to be approximately 80 to 120 million pounds per year during the first five years of production at average Costs applicable to sales of $1.25 to $1.75 per pound. The project has an anticipated mine life of approximately 19 years, with additional district exploration potential. Capital costs are estimated at $4,000 to $4,800 ($2,000 to $2,400 attributable to Newmont) of which approximately $1,000 have been incurred at December 31, 2011. At December 31, 2011 we reported 6.5 million attributable ounces of gold reserves and 1,690 million attributable pounds of copper reserves at Conga. See Risk Factor – “Our operations at Yanacocha and the development of our Conga Project in Peru are subject to political and social unrest risks, which have resulted most recently in the suspension of construction activities in our Conga project” for a description of political risks related to the project’s development.

Tanami Shaft, Australia.    Following the full funding approval by the Board in July 2011, development efforts have progressed. The project will support underground expansion at the Callie and Auron ore bodies, reduce cut-off grade, enhance productivity and facilitate possible additional mine expansion. The project is expected to add gold production of approximately 60,000 to 90,000 ounces per year during the first five years of production while lowering Costs applicable to sales for the first five years by approximately $100 per ounce. First production is expected in 2015. Capital costs are expected to be approximately $400 to $450, of which approximately $30 have been incurred at December 31, 2011.

In addition to these projects receiving full funding decisions in 2011, as described above, we advanced approximately 20 earlier stage development assets through our project pipeline in our four operating regions. The exploration, construction and operation of these earlier stage development assets will require significant funding when they go into execution. Two of these projects are described further below:

Merian, Suriname.    Feasibility study work for the Merian project began in the third quarter of 2011 and is expected to be completed in the fourth quarter of 2012. The Company has also recently commenced negotiations for a mineral agreement with the government of Suriname. The development of the Merian project allows Newmont to pursue a new district with upside potential and the opportunity to grow and extend the operating life of the South American region. First production is targeted for 2015 with initial estimated attributable gold production of approximately 300,000 ounces per year.

Long Canyon, Nevada.    Since completing the acquisition of Fronteer Gold Inc. (“Fronteer”) in April 2011, the project entered into the pre-feasibility stage as we further develop our understanding of what we expect could be another Carlin-type trend at Long Canyon. We have received an expanded exploration area permit allowing access to project targets. We continue to make progress on the drilling program. A total of 72 kilometers of drilling was completed in 2011 and we anticipate an additional 65 kilometers to be drilled in 2012. Our intention is to bring the project into production in 2017 with initial estimated gold production of approximately 200,000 to 300,000 ounces per year.

Hope Bay, Canada.    On January 31, 2012, we announced that our Hope Bay project was placed on care and maintenance following our evaluation of development options and economic feasibility for the project compared with other project and development opportunities within our wider project pipeline. The Hope Bay project is not included as part of our 2017 strategic growth plan or capital

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expenditure outlook for 2012. At December 31, 2011, we recorded an impairment of $2,097 related to Hope Bay.

Gold Price-Linked Dividend

In April 2011, the Company introduced the first gold price-linked dividend policy, followed by the announcement of an enhanced gold price-linked dividend policy in September 2011, under which the Company’s annual dividend has the potential to increase to $4.70 per share if the Company’s average realized gold price exceeds $2,500 per ounce. Under the policy, unless otherwise determined by the Board, the dividend will be calculated based upon our average realized gold price during the preceding quarter in the manner highlighted in the table below:

Average Realized Gold Price	Quarterly Dividend	Annualized Dividend
$1,100 - $1,199	$0.100	$0.40
$1,200 - $1,299	$0.150	$0.60
$1,300 - $1,399	$0.200	$0.80
$1,400 - $1,499	$0.250	$1.00
$1,500 - $1,599	$0.300	$1.20
$1,600 - $1,699	$0.350	$1.40
$1,700 - $1,799	$0.425	$1.70
$1,800 - $1,899	$0.500	$2.00
$1,900 - $1,999	$0.575	$2.30
$2,000 - $2,099	$0.675	$2.70
$2,100 - $2,199	$0.775	$3.10
$2,200 - $2,299	$0.875	$3.50
$2,300 - $2,399	$0.975	$3.90
$2,400 - $2,499	$1.075	$4.30
$2,500 - $2,599	$1.175	$4.70

The fourth quarter 2011 dividend under this policy of $0.35 per share (based on our third quarter 2011 average realized gold price of $1,695 per ounce) represents an increase of 17% over the $0.30 dividend paid in the third quarter of 2011, and an increase of 133% over the fourth quarter 2010 dividend. This dividend policy is intended as a non-binding guideline which will be periodically reviewed and reassessed by the Board. The declaration and payment of future dividends remains at the discretion of the Board and will depend on the Company’s financial results, cash requirements, future prospects and other factors deemed relevant by the Board.

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Summary of Consolidated Financial and Operating Performance

	Years Ended December 31,
	2011		2010		2009
Sales	$	10,358	$	9,540	$	7,705
Income from continuing operations	$	1,108	$	3,144	$	2,109
Net income	$	972	$	3,116	$	2,093
Net income attributable to Newmont stockholders	$	366	$	2,277	$	1,297
Per common share, basic
Income from continuing operations	$	1.02	$	4.69	$	2.68
Net income	$	0.74	$	4.63	$	2.66
Adjusted net income(1)	$	2,170	$	1,893	$	1,359
Adjusted net income per share(1)	$	4.39	$	3.85	$	2.79
Gold ounces produced (thousands)
Consolidated		5,897		6,451		6,521
Attributable to Newmont(2)		5,185		5,392		5,237
Copper pounds produced (millions)
Consolidated		352		600		504
Attributable to Newmont		206		327		227
Gold ounces sold (thousands)
Consolidated		5,820		6,296		6,534
Attributable to Newmont		5,104		5,274		5,217
Copper pounds sold (millions)
Consolidated		356		539		507
Attributable to Newmont		203		292		226
Average price realized, net
Gold (per ounce)	$	1,562	$	1,222	$	977
Copper (per pound)	$	3.54	$	3.43	$	2.60
Costs applicable to sales(3)
Gold (per ounce)	$	591	$	485	$	411
Copper (per pound)	$	1.26	$	0.80	$	0.64
Operating margin(1)
Gold (per ounce)	$	971	$	737	$	566
Copper (per pound)	$	2.28	$	2.63	$	1.96

⁽¹⁾  See “Non-GAAP Financial Measures” on page 83.

⁽²⁾  Includes 64 and 21 thousand ounces in 2011 and 2010, respectively, from our non-consolidated interest in La Zanja and 17 and 5 thousand ounces in 2011 and 2010, respectively, from our non-consolidated interest in Duketon and 32 thousand ounces from discontinued operations at Kori Kollo, Bolivia in 2009.

⁽³⁾  Excludes Amortization and Reclamation and remediation.

Consolidated Financial Performance

Sales increased 9% in 2011 compared to 2010 due to higher average realized gold and copper prices, partially offset by fewer consolidated gold ounces and copper pounds sold. The average realized gold price increased 28% to $1,562 per ounce in 2011 from $1,222 per ounce in 2010. The average realized copper price, including $92 unfavorable mark to market adjustments on provisionally priced copper sales, increased 3% to $3.54 per pound in 2011 compared to $3.43 per pound in 2010. Gold ounces sold decreased in 2011 compared to 2010 due to lower production in Asia Pacific,

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primarily Batu Hijau, and South America, partially offset by higher production in North America. Copper pounds sold decreased in 2011 compared to 2010 due to lower production at Batu Hijau, partially offset by higher production at Boddington. Costs applicable to sales increased 12% in 2011 compared to 2010 due to higher waste mining activities, higher milling and royalty costs, higher diesel prices and a stronger Australian dollar.

Liquidity

Our financial position was as follows:

	At December 31,
	2011		2010
Debt	$	4,313	$	4,441
Newmont stockholders’ equity	$	12,896	$	13,345
Cash and cash equivalents	$	1,760	$	4,056
Investments	$	1,566	$	1,681

During 2011, our debt and liquidity positions were affected by the following:

• Net cash provided from continuing operations of $3,591;

• Capital expenditures of $2,787;

• Acquisition of Fronteer for $2,257;

• Income and mining taxes paid of $1,526;

• Debt payments of $262, net;

• Dividends paid to common shareholders of $494; and

• Dividends paid to noncontrolling interests of $117.

Looking Forward

We will continue to focus on operational and project excellence in 2012 to deliver on our plans and continue the advancement of our project pipeline, resulting in the following expectations for 2012:

• Attributable gold production of approximately 5.0 to 5.2 million ounces, primarily due to lower production at Batu Hijau as it continues with Phase 6 stripping, partially offset by higher production at Nevada and Ahafo;

• Costs applicable to sales per consolidated gold ounce sold of $625 to $675 due to lower production at Batu Hijau combined with higher expected costs for energy, labor and contracted services;

• Attributable copper production of approximately 150 to 170 million pounds, primarily due to the continuation of Phase 6 stripping at Batu Hijau, at Costs applicable to sales per consolidated copper pound sold of approximately $1.80 to $2.20 due to lower production at Batu Hijau;

• Consolidated capital expenditures of approximately $4,000 to $4,300 in 2012, with approximately 60% to be spent on major project initiatives, including further development of Akyem in Ghana, the Tanami shaft in Australia and potentially Conga in Peru. The remaining 40% is expected to be spent on sustaining and maintenance capital;

• Exploration expense of approximately $400 to $430 focused primarily on Ahafo in Africa, Long Canyon in Nevada, Tanami in Australia and other projects in all regions; and

• Advanced projects, research and development expense of approximately $475 to $525 focused primarily on Merian in Suriname, Midas, Long Canyon and Vista Vein in Nevada, Chaquicocha underground in Peru, Elang in Indonesia and Ahafo mill expansion in Africa.

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Certain key factors will affect our future financial and operating results. These include, but are not limited to, the following:

• Our 2012 expectations, particularly with respect to production volumes and Costs applicable to sales per ounce or pound, may differ significantly from actual quarter and full year results due to variations in mine planning and sequencing, ore grades and hardness, metal recoveries, waste removal, commodity input prices and foreign currency exchange rates; and

• Future investments in the Akyem project in Ghana, the Conga project in Peru, the Long Canyon project in Nevada, the Merian project in Suriname and the Tanami shaft in Australia will require significant funding. Our operating cash flow may become insufficient to meet the funding requirements of these investments, fund our ongoing business activities and pay dividends. Our ability to raise and service significant new sources of capital will be a function of macroeconomic conditions, future gold and copper prices and our operational performance, among other factors. In the event of lower gold and copper prices, unanticipated operating or financial challenges, or new funding limitations, our ability to pursue new business opportunities, invest in existing and new projects, fund our ongoing business activities and pay dividends could be significantly constrained.

• In 2011, we entered into forward starting swap contracts with a total notional amount of $2,000. These contracts hedge movements in treasury rates related to an expected debt issuance in the first half of 2012. At December 31, 2011, the hedge contracts were in a liability position of $399. The proceeds from the expected debt issuance will be adjusted by the fair value of the swap contracts at the time of issuance. If the anticipated debt issuance does not proceed, we will be required to cash settle the swap contracts with the full amount of the payment charged against earnings.

• In 2011, the Company expressed the intent to exercise the early purchase option on the refractory ore treatment plant capital lease related to Mill 6 in Nevada. As a result, we anticipate aggregate principal payments of approximately $165 in 2012.

Accounting Developments

For a discussion of Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements, see Note 2 to the Consolidated Financial Statements.

Critical Accounting Policies

Listed below are the accounting policies that we believe are critical to our financial statements due to the degree of uncertainty regarding the estimates or assumptions involved and the magnitude of the asset, liability, revenue or expense being reported.

Amortization

Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and amortized using the straight-line method at rates sufficient to amortize such costs over the estimated future lives of such facilities or equipment and their components. These lives do not exceed the estimated mine life based on proven and probable reserves as the useful lives of these assets are considered to be limited to the life of the relevant mine.

Costs incurred to develop new properties are capitalized as incurred where it has been determined that the property can be economically developed based on the existence of proven and probable reserves. At our surface mines, these costs include costs to further delineate the ore body and remove overburden to initially expose the ore body. At our underground mines, these costs include the cost of building access ways, shaft sinking and access, lateral development, drift development, ramps and

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infrastructure development. All such costs are amortized using the units-of-production (“UOP”) method over the estimated life of the ore body based on estimated recoverable ounces to be produced from proven and probable reserves.

Major development costs incurred after the commencement of production are amortized using the UOP method based on estimated recoverable ounces to be produced from proven and probable reserves. To the extent that such costs benefit the entire ore body, they are amortized over the estimated recoverable ounces or pounds in proven and probable reserves of the entire ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that block or area are amortized over the estimated recoverable ounces or pounds in proven and probable reserves of that specific ore block or area.

The calculation of the UOP rate of amortization, and therefore the annual amortization charge to operations, could be materially impacted to the extent that actual production in the future is different from current forecasts of production based on proven and probable reserves. This would generally occur to the extent that there were significant changes in any of the factors or assumptions used in determining reserves. These changes could include: (i) an expansion of proven and probable reserves through exploration activities; (ii) differences between estimated and actual costs of production, due to differences in grade, metal recovery rates and foreign currency exchange rates; and (iii) differences between actual commodity prices and commodity price assumptions used in the estimation of reserves. If reserves decreased significantly, amortization charged to operations would increase; conversely, if reserves increased significantly, amortization charged to operations would decrease. Such changes in reserves could similarly impact the useful lives of assets depreciated on a straight-line basis, where those lives are limited to the life of the mine, which in turn is limited to the life of the proven and probable reserves.

The expected useful lives used in amortization calculations are determined based on applicable facts and circumstances, as described above. Significant judgment is involved in the determination of useful lives, and no assurance can be given that actual useful lives will not differ significantly from the useful lives assumed for the purpose of amortization calculations.

Carrying Value of Stockpiles

Stockpiles represent ore that has been extracted from the mine and is available for further processing. Mine sequencing may result in mining material at a faster rate than can be processed. We generally process the highest ore grade material first to maximize metal production; however, a blend of stockpiled material may be processed to balance hardness and/or metallurgy in order to maximize throughput and recovery. Processing of lower grade stockpiled ore may continue after mining operations are completed. Sulfide ore stockpiles are subject to oxidation over time which can reduce expected future recoveries. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces or pounds (based on assay data), and the estimated metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are added to stockpiles based on current mining costs incurred up to the point of stockpiling the ore, including applicable overhead and amortization relating to mining operations. Costs are removed at each stockpile’s average cost per recoverable ounce of gold or pound of copper as material is processed. At December 31, 2011 and 2010, stockpiles had a total carrying value of $2,410 and $1,786, respectively.

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The following is a summary of our ore stockpiles:

	At December 31,				At December 31,
	2011		2010		2011		2010
	($ in millions)				($ per ounce)
Gold
Nevada	$	414	$	324	$	152	$	175
Yanacocha		108		69		166		167
Boddington		345		192		467		348
Other Australia/New Zealand		161		145		338		308
Batu Hijau		185		142		287		172
Ahafo		173		121		314		307
Total/Weighted Average	$	1,386	$	993	$	239	$	220

	At December 31,				At December 31,
	2011		2010		2011		2010
	($ in millions)				($ per pound)
Copper
Boddington	$	90	$	56	$	1.09	$	0.95
Batu Hijau		934		737		0.67		0.47
Total/Weighted Average	$	1,024	$	793	$	0.69	$	0.49

We record stockpiles at the lower of average cost or net realizable value (“NRV”), and carrying values are evaluated at least quarterly. NRV represents the estimated future sales price based on short-term and long-term metals prices, less estimated costs to complete production and bring the product to sale. The primary factors that influence the need to record write-downs of stockpiles include short-term and long-term metals prices and costs for production inputs such as labor, fuel and energy, materials and supplies, as well as realized ore grades and recovery rates. The significant assumptions in determining the stockpile NRV for each mine site reporting unit at December 31, 2011 included production cost and capitalized expenditure assumptions unique to each operation, a long-term gold price of $1,500 per ounce, a long-term copper price of $3.50 per pound and a U.S. to Australian dollar exchange rate of $1.00 per A$1.00. If short-term and long-term metals prices decrease, the value of the stockpiles decrease, and it may be necessary to record a write-down of stockpiles to NRV.

The NRV measurement involves the use of estimates and assumptions unique to each mining operation regarding current and future operating and capital costs, metal recoveries, production levels, commodity prices, proven and probable reserve quantities, engineering data and other factors. A high degree of judgment is involved in determining such assumptions and estimates and no assurance can be given that actual results will not differ significantly from those estimates and assumptions.

Carrying Value of Ore on Leach Pads

Ore on leach pads represent ore that has been mined and placed on leach pads where a weak cyanide solution is applied to the surface of the heap to dissolve the gold. Costs are added to ore on leach pads based on current mining costs, including applicable amortization relating to mining operations. Costs are removed from ore on leach pads as ounces are recovered based on the average cost per estimated recoverable ounce of gold on the leach pad.

Estimates of recoverable gold on the leach pads are calculated from the quantities of ore placed on the leach pads (measured tons added to the leach pads), the grade of ore placed on the leach pads

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(based on assay data) and a recovery percentage (based on ore type). In general, leach pads recover between 50% and 95% of the recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete.

Although the quantities of recoverable gold placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of gold actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored and estimates are refined based on actual results over time. Historically, our operating results have not been materially impacted by variations between the estimated and actual recoverable quantities of gold on our leach pads. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to NRV are accounted for on a prospective basis. The significant assumptions in determining the NRV for each mine site reporting unit at December 31, 2011 apart from production cost and capitalized expenditure assumptions unique to each operation included a long-term gold price of $1,500 per ounce. If short-term and long-term gold prices decrease, the value of the ore on leach pads decrease, and it may be necessary to record a write-down of ore on leach pads to NRV. At December 31, 2011 and 2010, leach pads had a total carrying value of $532 and $588, respectively.

The following is a summary of our ore on leach pads:

	At December 31,				At December 31,
	2011		2010		2011		2010
	($ in millions)				($ per ounce)
Gold
Nevada	$	122	$	155	$	389	$	431
La Herradura		6		6		535		526
Yanacocha		404		427		730		558
Total/Weighted Average	$	532	$	588	$	606	$	517

Carrying Value of Long-Lived Assets

We review and evaluate our long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the asset, including goodwill, if any. An impairment loss is measured and recorded based on discounted estimated future cash flows. Future cash flows are estimated based on estimated quantities of recoverable minerals, expected gold and other commodity prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans. The significant assumptions in determining the future cash flows for each mine site reporting unit at December 31, 2011 apart from production cost and capitalized expenditure assumptions unique to each operation, included a long-term gold price of $1,500 per ounce, a long-term copper price of $3.50 per pound and U.S. to Australian dollar exchange rate of $1.00 per A$1.00. During 2011, 2010 and 2009, we recorded impairments of $2,084, $6, and $7, respectively, to reduce the carrying value of property, plant and mine development as part of Write-down of property, plant and mine development.

Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization other than proven and probable reserves are included when determining the fair value of mine site reporting units at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold or other commodities that will be obtained after taking into account losses during ore processing and treatment. Estimates of

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recoverable minerals from such exploration stage mineral interests are risk adjusted based on management’s relative confidence in such materials. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups.

As discussed above under Amortization, various factors could impact our ability to achieve our forecasted production schedules from proven and probable reserves. Additionally, production, capital and reclamation costs could differ from the assumptions used in the cash flow models used to assess impairment. The ability to achieve the estimated quantities of recoverable minerals from exploration stage mineral interests involves further risks in addition to those factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineralized material could ultimately be mined economically. Assets classified as exploration potential have the highest level of risk that the carrying value of the asset can be ultimately realized, due to the still lower level of geological confidence and economic modeling.

Derivative Instruments

With the exception of the Call Spread Transactions (as described in Note 14 to the Consolidated Financial Statements), all financial instruments that meet the definition of a derivative are recorded on the balance sheet at fair value. Changes in the fair value of derivatives are recorded in the statements of consolidated income, except for the effective portion of the change in fair value of derivatives that are designated as cash flow hedges. Management applies judgment in estimating the fair value of instruments that are highly sensitive to assumptions regarding commodity prices, market volatilities, foreign currency exchange rates and interest rates. Variations in these factors could materially affect amounts credited or charged to earnings to reflect the changes in fair value of derivatives. Certain derivative contracts are accounted for as cash flow hedges, whereby the effective portion of changes in fair value of these instruments are deferred in Accumulated other comprehensive income and will be recognized in the statements of consolidated income when the underlying transaction designated as the hedged item impacts earnings. The derivative contracts accounted for as cash flow hedges are designated against foreign currency expenditures, diesel purchases, or future debt interest payments where management believes the forecasted transaction is probable of occurring. To the extent that management determines that the forecasted transactions are no longer probable of occurring, gains and losses deferred in Accumulated other comprehensive income would be reclassified to the statements of consolidated income immediately.

Reclamation and Remediation Obligations

Reclamation costs are allocated to expense over the life of the related assets and are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation and remediation costs. Reclamation obligations are based on when the spending for an existing environmental disturbance will occur. We review, on at least an annual basis, the reclamation obligation at each mine.

Reclamation obligations for inactive mines are accrued based on management’s best estimate of the costs expected to be incurred at a site. Such cost estimates include, where applicable, ongoing care, maintenance and monitoring costs. Changes in estimates at inactive mines are reflected in earnings in the period an estimate is revised.

Accounting for reclamation and remediation obligations requires management to make estimates unique to each mining operation of the future costs we will incur to complete the reclamation and remediation work required to comply with existing laws and regulations. Actual costs incurred in future periods could differ from amounts estimated. Additionally, future changes to environmental laws and

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regulations could increase the extent of reclamation and remediation work required. Any such increases in future costs could materially impact the amounts charged to earnings for reclamation and remediation.

Income and Mining Taxes

We recognize the expected future tax benefit from deferred tax assets when the tax benefit is considered to be more likely than not of being realized. Assessing the recoverability of deferred tax assets requires management to make significant estimates related to expectations of future taxable income. Estimates of future taxable income are based on forecasted cash flows and the application of existing tax laws in each jurisdiction. Refer above to Carrying Value of Long-Lived Assets for a discussion of the factors that could cause future cash flows to differ from estimates. To the extent that future cash flows and taxable income differ significantly from estimates, our ability to realize deferred tax assets recorded at the balance sheet date could be impacted. Additionally, future changes in tax laws in the jurisdictions in which we operate could limit our ability to obtain the future tax benefits represented by our deferred tax assets recorded at the reporting date.

Our operations involve dealing with uncertainties and judgments in the application of complex tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising from federal, state, and international tax audits. We recognize potential liabilities and record tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on our estimate of whether, and the extent to which, additional taxes will be due. We adjust these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities. If our estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If an estimate of tax liabilities proves to be greater than the ultimate assessment, a tax benefit would result. We recognize interest and penalties, if any, related to unrecognized tax benefits in Income and mining tax expense.

Consolidated Financial Results

Gold Sales increased $1,404 in 2011 compared to 2010 due to a $340 per ounce increase in the average realized price after treatment and refining charges, partially offset by 476,000 fewer ounces sold. Gold Sales increased $1,306 in 2010 compared to 2009 due to a $245 per ounce increase in the average realized price after treatment and refining charges, partially offset by 238,000 fewer ounces sold. For a complete discussion regarding variations in gold volumes, see Results of Consolidated Operations below.

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The following analysis summarizes the changes in consolidated gold sales:

	Years Ended December 31,
	2011			2010			2009
Consolidated gold sales:
Gross before provisional pricing	$	9,128		$	7,706		$	6,397
Provisional pricing mark-to-market		31			41			15
Gross after provisional pricing		9,159			7,747			6,412
Treatment and refining charges		(63	)		(55	)		(26	)
Net	$	9,096		$	7,692		$	6,386
Consolidated gold ounces sold (thousands)		5,820			6,296			6,534
Average realized gold price (per ounce):
Gross before provisional pricing	$	1,568		$	1,224		$	979
Provisional pricing mark-to-market		5			7			2
Gross after provisional pricing		1,573			1,231			981
Treatment and refining charges		(11	)		(9	)		(4	)
Net	$	1,562		$	1,222		$	977

The change in consolidated gold sales is due to:

	2011 vs. 2010			2010 vs. 2009
Change in consolidated ounces sold	$	(585	)	$	(234	)
Change in average realized gold price		1,997			1,569
Change in treatment and refining charges		(8	)		(29	)
	$	1,404		$	1,306

Copper Sales decreased $586 in 2011 compared to 2010 due to 183 million fewer pounds sold, partially offset by an $0.11 per pound increase in the average realized price after treatment and refining charges. Copper Sales increased $529 in 2010 compared to 2009 due to 32 million additional pounds sold and a $0.83 per pound increase in the average realized price after treatment and refining charges. For a complete discussion regarding variations in copper volumes, see Results of Consolidated Operations below.

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The following analysis reflects the changes in consolidated copper sales:

	Years Ended December 31,
	2011			2010			2009
Consolidated copper sales:
Gross before provisional pricing	$	1,434		$	1,842		$	1,283
Provisional pricing mark-to-market		(92	)		120			173
Gross after provisional pricing		1,342			1,962			1,456
Treatment and refining charges		(80	)		(114	)		(137	)
Net	$	1,262		$	1,848		$	1,319
Consolidated copper pounds sold (millions)		356			539			507
Average realized copper price (per pound):
Gross before provisional pricing	$	4.02		$	3.42		$	2.53
Provisional pricing mark-to-market		(0.26	)		0.22			0.33
Gross after provisional pricing		3.76			3.64			2.86
Treatment and refining charges		(0.22	)		(0.21	)		(0.26	)
Net	$	3.54		$	3.43		$	2.60

The change in consolidated copper sales is due to:

	2011 vs. 2010			2010 vs. 2009
Change in consolidated pounds sold	$	(665	)	$	88
Change in average realized copper price		45			418
Change in treatment and refining charges		34			23
	$	(586	)	$	529

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The following is a summary of consolidated gold and copper sales, net:

	Years Ended December 31,
	2011		2010		2009
Gold
North America:
Nevada	$	2,700	$	2,111	$	1,943
La Herradura		331		217		113
		3,031		2,328		2,056
South America:
Yanacocha		2,003		1,778		2,013
Asia Pacific:
Boddington		1,056		834		101
Batu Hijau		524		776		550
Kalgoorlie		589		463		329
Jundee		529		416		413
Tanami		346		311		280
Waihi		149		131		116
		3,193		2,931		1,789
Africa:
Ahafo		869		655		528
		9,096		7,692		6,386
Copper
Asia Pacific:
Batu Hijau		1,052		1,686		1,292
Boddington		210		162		27
		1,262		1,848		1,319
	$	10,358	$	9,540	$	7,705

Costs applicable to sales for gold increased in 2011 compared to 2010 due to higher mining and milling costs, higher royalties and allocation of costs to gold from a higher gold price, partially offset by lower sales volumes, higher silver and copper by-product credits and a buildup of stockpiles. The increase in 2010 compared to 2009 was due to a full year of Boddington production and higher mining and milling costs, partially offset by lower sales volumes, higher silver by-product credits and a build-up of inventories and stockpiles. Costs applicable to sales for copper increased in 2011 from 2010 due to higher waste mining at Batu Hijau and milling costs at Boddington, partially offset by a higher allocation of costs to gold. The increase in 2010 from 2009 was due to higher production and waste mining costs at Batu Hijau and a full year of Boddington production. For a complete discussion regarding variations in operations, see Results of Consolidated Operations below.

Amortization expense increased in 2011 from 2010 due to additional investments in mine development and equipment and higher asset retirement costs. Amortization expense increased in 2010 from 2009 due to a full year of Boddington production, additional equipment purchases and higher capitalized mine development. Amortization expense fluctuates as capital expenditures increase or decrease and as production levels increase or decrease due to the use of the units-of-production

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amortization method for mineral interests and mine development. For a complete discussion, see Results of Consolidated Operations, below. We expect Amortization expense to be approximately $1,050 to $1,080 in 2012.

The following is a summary of Costs applicable to sales and Amortization by operation:

	Costs Applicable to Sales						Amortization
	Years Ended December 31,						Years Ended December 31,
	2011		2010		2009		2011		2010		2009
Gold
North America:
Nevada	$	1,039	$	974	$	1,019	$	277	$	271	$	261
La Herradura		110		73		42		20		19		11
		1,149		1,047		1,061		297		290		272
South America:
Yanacocha		711		630		642		234		162		168
Asia Pacific:
Boddington		470		400		45		122		113		15
Batu Hijau		164		155		118		35		42		30
Kalgoorlie		235		211		210		17		15		15
Jundee		140		132		136		56		33		49
Tanami		205		173		174		40		43		47
Waihi		101		69		57		22		17		25
		1,315		1,140		740		292		263		181
Africa:
Ahafo		265		237		242		76		78		68
		3,440		3,054		2,685		899		793		689
Copper
Asia Pacific:
Batu Hijau		332		337		307		71		90		78
Boddington		118		93		16		28		25		4
		450		430		323		99		115		82
Other
Hope Bay		—		—		—		14		13		12
Asia Pacific		—		—		—		3		2		3
Corporate and other		—		—		—		21		22		20
		—		—		—		38		37		35
	$	3,890	$	3,484	$	3,008	$	1,036	$	945	$	806

Exploration expense increased to $350 in 2011 from $218 in 2010 due to additional near mine expenditures in all regions, with the largest increases at Nevada, Yanacocha, Ahafo, Jundee and Tanami and increased regional expenditures at Long Canyon and Hope Bay. Exploration expense increased in 2010 from $187 in 2009 due to additional near mine expenditures in all regions, with the

largest increase in Nevada at Leeville/Turf and Midas. We expect Exploration expense to increase to

approximately $400 to $430 in 2012, focused primarily on Long Canyon in Nevada, Tanami in Australia and other projects in all other regions.

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During 2011, we added 11.6 million ounces to proven and probable reserves, with 6.3 million ounces of depletion. Reserve additions were primarily due to conversion of mineralized material at Ahafo (2.7 million ounces), Carlin open pit, (2.3 million ounces), Phoenix (1.5 million ounces), Carlin underground (1.2 million ounces), Kalgoorlie (1.0 million ounces) and Tanami (0.7 million ounces) with the remaining additions coming from open pit and underground sources in all regions (2.2 million ounces). The estimated impact of the change in gold price assumption on these reserve additions was an increase of 3.3 million ounces.

During 2010, we added 8.2 million ounces to proven and probable reserves, with 6.5 million ounces of depletion. Reserve additions were primarily due to conversion of mineralized material at Leeville (1.8 million ounces), Ahafo (1.5 million ounces), Twin Creeks (1.4 million ounces), Phoenix (0.8 million ounces), La Herradura (0.7 million ounces) and Tanami (0.7 million ounces) with most of the remaining additions coming from open pit and underground sources in the United States, Australia and South America (1.8 million ounces). Gold reserves were revised down by 0.5 million ounces at Akyem in Ghana, primarily due to new mining assumptions and higher cutoff grades. The estimated impact of the change in gold price assumption on these reserve additions was an increase of 1.7 million ounces.

During 2009, we added 6.4 million ounces to proven and probable reserves, with 6.8 million ounces of depletion. Reserve additions were primarily due to conversion of mineralized material at Gold Quarry (2.9 million ounces), Boddington (1.3 million ounces), Tanami (0.5 million ounces) and Ahafo (0.5 million ounces) with most of the remaining additions coming from open pit and underground sources in Australia and South America (0.6 million ounces). Gold reserves were revised down by 0.3 million ounces at Phoenix in Nevada, primarily due to metallurgy, geology and modeling impacts. The estimated impact of the change in gold price assumption on these reserve additions was an increase of 1.7 million ounces.

Advanced projects, research and development expense includes development project management costs, feasibility studies and certain drilling costs. Advanced projects, research and development expense increased 73% in 2011 compared to 2010 due to increased spending to accelerate internal growth opportunities across our portfolio. Projects in North America include Hope Bay in Canada, the Nevada portfolio project including Long Canyon, Vista Vein and the Phoenix copper leach. Projects in South America include the Conga and Chaquicocha projects in Peru and the Merian gold project in Suriname. Projects in Asia Pacific include Elang in Indonesia. Projects in Africa include the Akyem gold project in Ghana and Subika expansion at Ahafo in Ghana. We expect Advanced projects, research and development expense to be approximately $475 to $525 in 2012 focused primarily on Merian in Suriname, Midas, Long Canyon and Vista Vein in Nevada, Chaquicocha underground in Peru, Elang in Indonesia and Ahafo mill expansion in Africa.

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	Years Ended December 31,
	2011		2010		2009
North America
Nevada	$	24	$	10	$	14
La Herradura		2		—		—
Hope Bay		155		74		25
South America
Yanacocha		19		15		7
Conga		20		8		4
Other South America		13		2		2
Asia Pacific
Boddington		5		—		25
Batu Hijau		6		3		—
Other Australia/New Zealand		5		9		5
Africa
Ahafo		10		11		2
Akyem		5		5		8
Corporate and Other
Technical and project services		89		57		24
Corporate		20		22		19
	$	373	$	216	$	135

General and administrative expense increased to $198 in 2011 compared to $178 in 2010 due to higher benefit and compensation costs and higher consulting fees. General and administrative expense increased in 2010 compared to $159 in 2009 due to higher benefit and compensation costs. General and administrative expense as a percentage of Sales was 1.9% in 2011, compared to 1.9% and 2.1% in 2010 and 2009, respectively. We expect General and administrative expense to be approximately $210 to $230 in 2012.

Write-down of property, plant and mine development totaled $2,084, $6 and $7 for 2011, 2010 and 2009, respectively. The write-down in 2011 is primarily related to the Hope Bay project that resulted from our decision to place the project on care and maintenance and to focus on environmental and regulatory compliance spending. We placed the Hope Bay project on care and maintenance after evaluating development options and economic feasibility for the project compared with other project and development opportunities within our wider project pipeline. The 2010 write-down is primarily related to asset impairments at Nevada and the 2009 write-down is primarily related to asset impairments at Batu Hijau.

Other expense, net was $265, $261 and $358 for 2011, 2010 and 2009, respectively. The increase in 2011 over 2010 is due to Fronteer acquisition costs, an impairment of materials and supplies related to a decision to place the Hope Bay project on care and maintenance and higher regional and administration costs, partially offset by lower community development costs at Batu Hijau. The decrease in 2010 over 2009 is due to costs related to acquiring the remaining interest in Boddington in 2009, higher charges related to the Western Australian power plant in 2009, and a workforce reduction that impacted 3% of our global workforce in 2009, partially offset by higher community development costs at Batu Hijau in 2010.

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Other income, net was $12, $109 and $88 for 2011, 2010 and 2009, respectively. The decrease in 2011 over 2010 is due to other-than-temporary impairment charges for marketable securities primarily acquired with the Fronteer acquisition of $180 in 2011, a decrease in Canadian Oil Sands dividends as well as the sale of non-core assets in 2010, partially offset by the gain on the sale of other marketable equity securities, an increase in income from developing projects and a decrease in foreign exchange losses. The increase in 2010 over 2009 is primarily related to an increase in Canadian Oil Sands dividends due to higher oil prices in 2010 and sales of non-core assets, partially offset by foreign currency exchange losses.

Interest expense, net was $244, $279 and $120 for 2011, 2010 and 2009, respectively. Capitalized interest totaled $52, $21 and $111 in each year, respectively. Interest expense, net decreased in 2011 compared to 2010 due to the increase in capitalized interest for the advancement of our Conga and Akyem projects. Interest expense, net increased in 2010 from 2009 due to the reduction in capitalized interest as Boddington achieved commercial production in November 2009 and interest related to the 2019 and 2039 senior notes issued during September 2009, partially offset by lower interest due to the prepayment in 2010 of the PTNNT project financing and Yanacocha senior notes and credit facility. We expect Interest expense, net to be approximately $240 to $260 in 2012.

Income and mining tax expense was $713, $856 and $829 in 2011, 2010 and 2009, respectively. The effective tax rates were 39%, 21% and 28% in 2011, 2010 and 2009, respectively. The higher tax rate in 2011 is primarily due to the impairment related to the Hope Bay project and the impact it had on the realizability of our Canadian deferred tax assets. Without the write-down on the Hope Bay project, the annual effective tax rate would have been 30%. The impairment resulted in a 12% tax rate increase due to the recording of valuation allowances on Canadian deferred tax assets, partially offset by a 3% benefit from other items. The lower effective tax rate in 2010 is primarily due to tax benefits recognized as a result of “check the box” elections made with respect to certain of our non-U.S. subsidiaries. As a result of the elections, the subsidiaries are treated as flow-through entities for U.S. federal income tax purposes. Without the restructuring, the effective tax rate for 2010 would have been 32%.

The factors that most significantly impacted our effective tax rates for the three periods are percentage depletion, changes in estimates of reserves for income tax uncertainties, valuation allowances related to deferred tax assets, and the impact of certain specific transactions. Many of these factors are sensitive to the average realized price of gold and other metals. For a complete discussion, see Note 10 to the Consolidated Financial Statements.

During the year, the U.S. Internal Revenue Service issued a Technical Advice Memorandum (“TAM”) to the Company regarding the U.S. income tax treatment of the Price Capped Forward Sales Contracts settled in cash in 2007. The TAM provides guidance which is unfavorable to the Company. The Company intends to vigorously defend its positions through all processes available to it and believes it should prevail.

Based on the uncertainty and inherent unpredictability of the factors influencing our effective tax rate and the sensitivity of such factors to gold and other metals prices as discussed above, the effective tax rate is expected to be volatile in future periods. The effective tax rate is expected to be between 28% and 32% in 2012.

Net income attributable to noncontrolling interests was as follows:

	Years Ended December 31,
	2011			2010			2009
Yanacocha	$	326		$	292		$	354
Batu Hijau		287			549			445
Other		(7	)		(2	)		(3	)
	$	606		$	839		$	796

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Net income attributable to noncontrolling interests decreased in 2011 from 2010 as a result of decreased earnings at Batu Hijau, partially offset by increased earnings at Yanacocha. The 2010 increase over 2009 was a result of higher earnings at Batu Hijau and the required March 2010 divestiture of shares in Batu Hijau, partially offset by lower earnings at Yanacocha and the additional 17% economic interest in Batu Hijau as a result of advancing funds to certain noncontrolling shareholders in exchange for an assignment of their Batu Hijau dividends, net of withholding tax. See Note 13 to the Consolidated Financial Statements for a discussion of the changes in our Batu Hijau ownership and economic interests.

Equity income (loss) of affiliates was as follows:

	Years Ended December 31,
	2011			2010			2009
Minera La Zanja S.R.L. (46.9%)	$	52		$	10		$	(4	)
Euronimba Ltd. (43.5%)		(41	)		(10	)		(17	)
AGR Matthey Joint Venture		—			3			5
	$	11		$	3		$	(16	)

We have a 46.94% interest in Minera La Zanja, S.R.L. (“La Zanja”), a gold project near the city of Cajamarca, Peru. The remaining interest is held by Compañia de Minas Buenaventura, S.A.A. (“Buenaventura”). The mine commenced operations in September 2010 and is operated by Buenaventura. Newmont received dividends of $31 during 2011 from its interest in La Zanja. We have a 43.50% interest in Euronimba Ltd. (“Euronimba”), with the remaining interests held by BHP Billiton (43.50%) and Areva (13%). Euronimba owns 95% of the Nimba iron ore project located in the Republic of Guinea which is in the early stages of development. The AGR Matthey Joint Venture (“AGR”), a gold refinery in which Newmont held a 40% interest, was dissolved on March 30, 2010. Newmont received consideration of $14 from the dissolution and recorded a gain of $6 during 2010. Newmont received dividends of $7 and $2 during 2010 and 2009, respectively, from its interests in AGR.

Loss from discontinued operations was as follows:

	Years Ended December 31,
	2011			2010			2009
Sales	$	—		$	—		$	32
Income from operations	$	—		$	—		$	1
Non-operating loss		(143	)		(40	)		(44	)
Pre-tax loss		(143	)		(40	)		(43	)
Income tax benefit		7			12			27
Loss from discontinued operations	$	(136	)	$	(28	)	$	(16	)

Discontinued operations include Holloway Mining Company, which owned the Holt-McDermott property (“Holt property”) that was sold to St. Andrew Goldfields Ltd. (“St. Andrew”) in 2006. In 2009, the Superior Court issued a decision finding Newmont Canada Corporation (“Newmont Canada”) liable for a sliding scale royalty on production from the Holt property, which Newmont Canada appealed. In 2010, we recognized a $28 charge, net of tax benefits of $12, related to these legal claims. In 2011, the Ontario Court of Appeal upheld the Superior Court ruling resulting in an additional $136 charge, net of tax benefits of $7.

In 2009, we sold our interest in Kori Kollo in Bolivia. As part of the transaction, a reclamation trust fund was established with the proceeds to be made available exclusively to pay for closure and reclamation costs when operations eventually cease. We recognized a $16 charge in 2009, net of tax benefits of $27, related to the sale.

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Other comprehensive loss, net of tax was $456 in 2011 and included non-cash adjustments for a $195 net loss in value of marketable securities primarily related to Canadian Oil Sands Trust and Gabriel Resources Ltd., a $8 net gain on the translation of subsidiaries with non-U.S. dollar functional currencies, a $60 net loss related to pension and other post-retirement benefit adjustments primarily as a result of utilizing a lower discount rate and lower than expected return on plan assets, and a $209 net loss on derivatives designated as cash flow hedges due mainly to a loss on forward starting swap contracts partially offset by foreign currency hedge gains. Other comprehensive income, net of tax was $484 in 2010 and included non-cash adjustments for a $269 net gain in value of marketable securities primarily related to Gabriel Resources Ltd. and Regis Resources Ltd., a $98 net gain on the translation of subsidiaries with non-U.S. dollar functional currencies, a $13 net loss related to pension and other post-retirement benefit adjustments primarily as a result of utilizing a lower discount rate, and a $130 net gain on derivatives designated as cash flow hedges due mainly to foreign currency hedge gains. Other comprehensive income, net of tax was $882 in 2009 and included non-cash adjustments for a $418 net gain in value of marketable securities related to Canadian Oil Sands Trust and Gabriel Resources Ltd., a $264 net gain on the translation of subsidiaries with non-U.S. dollar functional currencies, a $14 net gain related to pension and other post-retirement benefit adjustments primarily as a result of utilizing a higher discount rate, and a $186 net gain on derivatives designated as cash flow hedges due mainly to foreign currency hedge gains.

Results of Consolidated Operations

	Gold or Copper  Produced(1)						Costs Applicable to Sales(2)						Amortization
	2011		2010		2009		2011		2010		2009		2011		2010		2009
	(ounces in thousands)						($ per ounce)						($ per ounce)
Gold
North America		1,953		1,909		2,099	$	594	$	551	$	501	$	153	$	153	$	128
South America		1,293		1,462		2,058		560		431		310		184		111		81
Asia Pacific		2,085		2,535		1,832		639		474		410		142		109		100
Africa		566		545		532		474		450		444		137		150		125
Total/Weighted-Average		5,897		6,451		6,521	$	591	$	485	$	411	$	154	$	126	$	105
Attributable to Newmont(3)(4)		5,185		5,392		5,237	$	597		506		440
Net Attributable to Newmont(3)							$	509		365		355
	(pounds in millions)						($ per pound)						($ per pound)
Copper
Asia Pacific		352		600		504	$	1.26	$	0.80	$	0.64	$	0.28	$	0.21	$	0.16
Attributable to Newmont(3)		206		327		227	$	1.37	$	0.89	$	0.66

⁽¹⁾  Contained basis. (Attributable production after smelter recoveries was 5,166, 5,370 and 5,229 thousand gold ounces and 197, 314 and 220 million copper pounds for the years ended 2011, 2010 and 2009, respectively.)

⁽²⁾  Excludes Amortization and Reclamation and remediation.

⁽³⁾  See “Non-GAAP Financial Measures” on page 83.

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⁽⁴⁾  Includes 64 and 21 thousand ounces in 2011 and 2010, respectively, from our non-consolidated interest in La Zanja and 17 and 5 thousand ounces in 2011 and 2010, respectively, from our non-consolidated interest in Duketon and 32 thousand ounces from discontinued operations at Kori Kollo, Bolivia in 2009.

2011 compared to 2010

Consolidated gold ounces produced decreased 9% due to:

• lower production from South America due to lower leach placement at Yanacocha from changes in mine sequencing; and

• lower production from Asia Pacific due to higher waste stripping in Phase 6 at Batu Hijau, resulting in processing lower grade stockpiled material; partially offset by

• higher production from North America due to a full year of Soledad-Dipolos production at La Herradura in 2011; and

• higher production from Africa due to a full year of production from the Amoma pit at Ahafo.

Consolidated copper pounds produced decreased 41% due to higher waste stripping in Phase 6 at Batu Hijau resulting in processing lower grade stockpiled material, partially offset by higher grade and throughput at Boddington.

Attributable gold ounces produced decreased 4% due to lower production from Batu Hijau and Yanacocha, partially offset by higher production from La Herradura. Lower attributable copper pounds produced also resulted from lower production at Batu Hijau.

Costs applicable to sales per consolidated gold ounce sold increased 22% due to lower production from Batu Hijau and Yanacocha, higher royalty and waste mining costs, higher co-product allocation of costs to gold and a stronger Australian dollar, partially offset by higher silver and copper by-product credits. Costs applicable to sales per consolidated copper pound sold increased 58% due to lower production from Batu Hijau, higher waste mining at Batu Hijau and higher mill maintenance costs at Boddington, partially offset by lower co-product allocation of costs to copper.

2010 compared to 2009

Consolidated gold ounces produced decreased slightly due to:

• lower production from South America due to mine sequencing at Yanacocha resulting in increased waste mining, lower leach placement and lower mill ore grade; and

• lower production from North America due to completion of mining at Deep Post in 2009 and geotechnical issues at Gold Quarry in Nevada; mostly offset by

• higher production from Asia Pacific due to a full year of Boddington production and higher ore grade and throughput at Batu Hijau; and

• higher production from Africa due to higher ore grade at Ahafo.

Consolidated copper pounds produced increased 19% due to higher ore grade and throughput at Batu Hijau and a full year of Boddington production.

Attributable gold ounces produced increased 3% due to higher production from Batu Hijau and a full year of production from Boddington, partially offset by lower production from Yanacocha and Nevada. Higher attributable copper pounds produced also resulted from higher production from Batu Hijau and full year of production from Boddington.

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Costs applicable to sales per consolidated gold ounce sold increased 18% due to lower production from South America, a full year of higher cost production at Boddington and higher diesel, royalty and waste mining costs, partially offset by higher by-product credits. Costs applicable to sales per consolidated copper pound sold increased 25% due to higher waste mining at Batu Hijau and a full year of higher cost production at Boddington, partially offset by higher production at Batu Hijau.

We expect 2012 gold production of approximately 5.0 to 5.2 million ounces attributable to Newmont, primarily due to lower production at Batu Hijau as it continues to process lower grade stockpiled ore during Phase 6 stripping, partially offset by higher production at Nevada and Ahafo. Consolidated Costs applicable to sales per ounce for 2012 are expected to be approximately $625 to $675 due to lower production at Batu Hijau combined with higher expected costs for energy, labor and contracted services. We expect 2012 copper production attributable to Newmont of approximately 150 to 170 million pounds at consolidated Costs applicable to sales per pound of approximately $1.80 to $2.20 due to lower production at Batu Hijau.

North America Operations

	Gold Ounces  Produced(1)						Costs Applicable to  Sales(2)						Amortization
	2011		2010		2009		2011		2010		2009		2011		2010		2009
	(in thousands)						($ per ounce)						($ per ounce)
Nevada		1,741		1,735		1,986	$	603	$	565	$	509	$	160	$	157	$	130
La Herradura(3)		212		174		113		527		420		372		95		110		95
Total/Weighted-Average		1,953		1,909		2,099	$	594	$	551	$	501	$	153	$	153	$	128
Attributable to Newmont		1,953		1,909		2,099

⁽¹⁾  Contained basis. (Attributable production after smelter recoveries was 1,950, 1,909 and 2,099 thousand gold ounces for the years ended 2011, 2010 and 2009, respectively.)

⁽²⁾  Excludes Amortization and Reclamation and remediation.

⁽³⁾  Our proportionate 44% share.

2011 compared to 2010

Nevada, USA.    Gold ounces produced increased slightly due to the commencement of underground mining at Exodus and Pete Bajo in 2011, higher Gold Quarry production in 2011 after resolution of previous geotechnical issues and higher underground production at Leeville, partially offset by lower production from the Chukar underground mine. Total surface ore tons mined were 75% higher primarily due to completing the remediation of the slope failure at Gold Quarry. Ore placed on leach pads increased 84% to 8.3 million tons due to higher leach ore tons mined from Lantern as well as re-leaching of ore at Lone Tree. Costs applicable to sales per ounce increased 7% due to higher surface mining and milling costs and higher royalties, partially offset by higher silver and copper by-product credits. Amortization per ounce increased 2% due to equipment additions and higher underground development costs.

La Herradura, Mexico.    Gold ounces produced increased 22% due to higher leach placement and additional mining equipment at Herradura and Soledad-Dipolos. Costs applicable to sales per ounce increased 25% due to higher waste tons mined and higher employee profit sharing costs, partially offset by higher production and silver by-product credits. Amortization per ounce decreased 14% due to higher production.

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2010 compared to 2009

Nevada, USA.    Gold ounces produced decreased 13% due to the completion of underground mining at Deep Post in 2009, lower Gold Quarry ore mined as a result of a geotechnical issue which occurred in December 2009 and lower leach tons placed at Twin Creeks and Carlin, partially offset by increased underground mining at Leeville. Total ore tons mined were 26% lower primarily due to the Gold Quarry slope failure and the completion of mining at North Lantern in April 2010. Ore placed on leach pads decreased 62% to 4.5 million tons. Costs applicable to sales per ounce increased 11% due to lower production, partially offset by higher by-product credits. Amortization per ounce increased 21% due to lower production and higher underground development costs.

La Herradura, Mexico.    Gold ounces produced increased 54% due to the commencement of commercial production at Soledad-Dipolos in January 2010. Costs applicable to sales per ounce increased 13% due to higher waste tons mined. Amortization per ounce increased 16% due to new equipment purchases.

Gold production for North America in 2012 is expected to remain at approximately 1.9 to 2.0 million ounces at Costs applicable to sales per ounce of approximately $570 to $630. In 2012, we expect to complete repairs on the ventilation shaft at Leeville in Nevada and production from the Noche Buena open pit mine at La Herradura is expected to commence in the first half.

South America Operations

	Gold Ounces Produced						Costs Applicable to  Sales(1)						Amortization
	2011		2010		2009		2011		2010		2009		2011		2010		2009
	(in thousands)						($ per ounce)						($ per ounce)
Yanacocha		1,293		1,462		2,058	$	560	$	431	$	310	$	184	$	111	$	81
Attributable to Newmont:
Yanacocha (51.35%)		664		750		1,057
La Zanja (46.94%)		64		21		—
		728		771		1,057

⁽¹⁾  Excludes Amortization and Reclamation and remediation.

2011 compared to 2010

Yanacocha, Peru.    Gold ounces produced decreased 12% due to mine sequencing resulting in lower leach placement at La Quinua, Yanacocha and Carachugo, partially offset by higher mill grade and recovery. Leach tons placed decreased 27% from 59 million tons to 43 million tons. Costs applicable to sales per ounce increased 30% due to lower production, higher milling costs and lower silver by-product credits. Amortization per ounce increased 66% due to lower production and higher mine development and asset retirement costs.

La Zanja, Peru.    Attributable gold ounces increased 205% due to a full year of production from our non-consolidated interest in La Zanja.

2010 compared to 2009

Yanacocha, Peru.    Gold ounces produced decreased 29% due to mine sequencing resulting in increased waste mining, lower leach placement, transitional ore stockpiling at La Quinua and lower grade and recovery resulting in lower mill production. Leach tons placed decreased from 136 million tons to 59 million tons. Costs applicable to sales per ounce increased 39% due to higher waste

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material mined, lower production, higher labor, diesel and maintenance costs, and higher workers’ participation and royalty costs as a result of higher gold prices, partially offset by higher by-product credits. Amortization per ounce increased 37% due to lower production.

Gold production for South America in 2012 is expected to remain at approximately 700,000 to 750,000 ounces attributable to Newmont. Costs applicable to sales per ounce are expected to decrease in 2012 to approximately $480 to $530, primarily due to mine sequencing resulting in mining higher grade mill ore.

Asia Pacific Operations

	Gold Ounces  Produced(1)						Costs Applicable to  Sales(2)						Amortization
	2011		2010		2009		2011		2010		2009		2011		2010		2009
	(in thousands)						($ per ounce)						($ per ounce)
Gold
Boddington		741		728		122	$	682	$	590	$	468	$	176	$	166	$	160
Batu Hijau(3)		318		737		560		476		237		214		102		63		55
Other
Kalgoorlie(4)		375		377		337		626		558		624		46		41		43
Jundee		333		335		411		420		393		331		167		99		120
Tanami		221		250		289		926		689		599		181		170		160
Waihi		97		108		113		1,057		647		481		228		156		215
		1,026		1,070		1,150		664		546		499		131		101		117
Total/Weighted-Average		2,085		2,535		1,832	$	639	$	474	$	410	$	142	$	109	$	100
Attributable to Newmont(5)		1,938		2,167		1,517

	Copper Pounds  Produced(1)						Costs Applicable to Sales  (2)						Amortization
	2011		2010		2009		2011		2010		2009		2011		2010		2009
	(in millions)						($ per pound)						($ per pound)
Copper
Boddington		69		58		10	$	2.03	$	1.86	$	1.77	$	0.49	$	0.51	$	0.46
Batu Hijau(3)		283		542		494		1.11		0.69		0.62		0.24		0.19		0.16
Total/Weighted-Average		352		600		504	$	1.26	$	0.80	$	0.64	$	0.28	$	0.21	$	0.16
Attributable to Newmont		206		327		227

⁽¹⁾  Contained basis. (Attributable production after smelter recoveries was 1,922, 2,145 and 1,509 thousand gold ounces and 197, 314 and 220 million copper pounds for the years ended 2011, 2010 and 2009, respectively.)

⁽²⁾  Excludes Amortization and Reclamation and remediation.

⁽³⁾  Our weighted-average economic interest was 48.50%, 49.55% and 43.89% in 2011, 2010 and 2009, respectively.

⁽⁴⁾  Our proportionate 50% share.

⁽⁵⁾ Includes 17 and 5 thousand ounces in 2011 and 2010, respectively, from our non-consolidated interest in Duketon.

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NEWMONT MINING CORPORATION

2011 compared to 2010

Boddington, Australia.    Gold and copper production increased 2% and 19%, respectively, due to higher mill throughput and higher copper grade, partially offset by lower recoveries and lower gold grade. Costs applicable to sales increased 16% per ounce and 9% per pound, respectively, due to higher mining and mill maintenance costs, higher royalty costs and a stronger Australian dollar, net of hedging gains, partially offset by higher production and higher silver by-product credits. Changes in Australia exchange rates increased Costs applicable to sales per ounce by $33 and per pound by $0.08. Costs applicable to sales and Amortization per ounce and per pound were also impacted by a higher allocation of costs to gold.

Batu Hijau, Indonesia.    Copper and gold production decreased 48% and 57%, respectively, due to lower throughput, grade and recovery as a result of processing more stockpiled material, compared to a higher proportion of high grade Phase 5 ore in 2010, and mill down time from motor replacements during the second and third quarters of 2011. Waste tons mined increased 135% as Phase 6 waste removal continues as planned. The Company expects to process primarily stockpiled ore until Phase 6 ore becomes the primary mill feed in late 2013. Costs applicable to sales increased 61% per pound and 101% per ounce due to lower production, higher waste mining and higher labor. Amortization increased 26% per pound and 62% per ounce due to equipment additions and lower production. Costs applicable to sales and Amortization per pound and per ounce were also impacted by a higher allocation of costs to gold.

Other Australia/New Zealand.    Gold production decreased 4% due to lower throughput at Tanami and lower grade at Waihi. Costs applicable to sales per ounce increased 22% due to lower production, higher mining and milling costs and a stronger Australian dollar, net of hedging gains. Changes in Australia and New Zealand exchange rates increased Costs applicable to sales per ounce by $26. Amortization per ounce increased 30% due to lower production at Tanami and Waihi and higher mine development costs at Jundee.

2010 compared to 2009

Boddington, Australia.    Boddington produced 728,000 ounces of gold and 58 million pounds of copper at Costs applicable to sales of $590 per ounce and $1.86 per pound. As Boddington continued to ramp-up in 2010, production was below original expectations due to lower than anticipated gold grade and mill throughput. Costs applicable to sales were higher than expected due to higher mining and mill maintenance costs. Changes in Australia exchange rates increased Costs applicable to sales per ounce and per pound by $59 and $0.19, respectively. Amortization per ounce was higher than expected due to lower production.

Batu Hijau, Indonesia.    Copper and gold production increased 10% and 32%, respectively, due to higher grade and mill throughput as a result of mining at the bottom of Phase 5 and processing softer ore, partially offset by lower recovery. Unseasonably dry weather permitted additional mining in the bottom of Phase 5 during the fourth quarter. Costs applicable to sales increased 11% per pound and per ounce due to higher waste mining and milling costs, including higher labor and diesel costs. Amortization increased 19% per pound and 15% per ounce due to equipment additions, partially offset by higher production.

Other Australia/New Zealand.    Gold production decreased 7% due to lower mill grade at Jundee and Waihi and lower mill grade and throughput at Tanami, partially offset by higher grade, throughput and recovery at Kalgoorlie. Costs applicable to sales per ounce increased 9% due to lower production and a stronger Australian dollar, net of hedging gains. Changes in Australia and New Zealand exchange rates increased Costs applicable to sales per ounce by $17. Amortization per ounce decreased 14% due to lower mine development costs at Waihi and Jundee, partially offset by lower production.

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Gold production for Asia Pacific is expected to decrease in 2012 to approximately 1.8 to 1.9 million ounces attributable to Newmont at higher consolidated Costs applicable to sales per ounce of approximately $800 to $850 in 2012, primarily due to lower production at Batu Hijau, a stronger forecasted Australian dollar, net of hedging and higher labor and commodity costs. We expect copper production for the Asia Pacific region of approximately 150 to 170 million pounds attributable to Newmont at consolidated Costs applicable to sales per pound of approximately $1.80 to $2.20 in 2012.

Africa Operations

	Gold Ounces Produced						Costs Applicable to  Sales(1)						Amortization
	2011		2010		2009		2011		2010		2009		2011		2010		2009
	(in thousands)						($ per ounce)						($ per ounce)
Ahafo		566		545		532	$	474	$	450	$	444	$	137	$	150	$	125
Attributable to Newmont		566		545		532

⁽¹⁾  Excludes Amortization and Reclamation and remediation.

2011 compared to 2010

Ahafo, Ghana.    Gold ounces produced increased 4% due to higher throughput and recovery. Ore tons mined increased 28% from a full year of production at Amoma. Costs applicable to sales per ounce increased 5% due to higher labor, commodity and royalty costs, partially offset by higher production. Amortization per ounce decreased 9% due to higher production.

2010 compared to 2009

Ahafo, Ghana.    Gold ounces produced increased due to higher grade ore mined at Apensu in 2010 and the commencement of production at Amoma in October 2010. Costs applicable to sales per ounce increased slightly due to higher labor, power, diesel and royalty costs, partially offset by higher production. Amortization per ounce increased 20% due to higher capitalized mine development and equipment additions.

Gold production for the Africa operations is expected to increase in 2012 to approximately 570,000 to 600,000 ounces due to higher ore grade. Costs applicable to sales per ounce of approximately $500 to $550 are expected for 2012, primarily as a result of higher mining and milling costs.

Foreign Currency Exchange Rates

Foreign currency exchange rates can increase or decrease profit margins and Costs applicable to sales to the extent costs are paid in foreign currencies. Such fluctuations have not had a material impact on our revenue since gold and copper are sold throughout the world principally in U.S. dollars. Approximately 43%, 36% and 24% of our Costs applicable to sales were paid in currencies other than the U.S. dollar in 2011, 2010 and 2009, respectively. Our Costs applicable to sales are most significantly impacted by variations in the Australian dollar/U.S. dollar exchange rate. We estimate that every $0.10 increase in the U.S. dollar/Australian dollar exchange rate increases annually the U.S. dollar Costs applicable to sales by approximately $90 for each ounce of gold sold from operations in Australia before taking into account the impact of currency hedging. However, variations in the Australian dollar/U.S. dollar exchange rate historically have been strongly correlated to variations in the U.S. dollar gold price over the long-term. Changes in costs at Australian locations due to exchange rate changes have therefore tended to be mitigated by changes in sales reported in U.S. dollars at Australian locations. No assurance, however, can be given that the Australian dollar/U.S. dollar exchange rate will continue to be strongly correlated to the U.S. dollar gold price in the future.

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Variations in foreign currency exchange rates increased Costs applicable to sales per ounce $9, net of hedging, in 2011 compared to 2010, and increased Costs applicable to sales per ounce $10, net of hedging, in 2010 from 2009, primarily due to movements in the Australian dollar.

We hedge a portion of our forecasted Australian dollar denominated operating expenditures. At December 31, 2011, we have hedged 76%, 62%, 46%, 26% and 10% of our forecasted Australian denominated operating costs in 2012, 2013, 2014, 2015 and 2016, respectively, at an average rate of 0.91, 0.92, 0.89, 0.87 and 0.89, respectively.

Foreign currency exchange rates have not had a material impact on our determination of proven and probable reserves. However, if a sustained weakening of the U.S. dollar in relation to the Australian dollar, and/or to other foreign currencies that impact our cost structure, were not mitigated by offsetting increases in the U.S. dollar gold price or by other factors, the amount of proven and probable reserves in the applicable foreign country could be reduced as certain proven and probable reserves may no longer be economic. The extent of any such reduction would be dependent on a variety of factors including the length of time of any such weakening of the U.S. dollar, and management’s long-term view of the applicable exchange rate. Future reductions of proven and probable reserves would primarily result in reduced gold or copper sales and increased amortization and, depending on the level of reduction, could also result in impairments of property, plant and mine development, mineral interests and/or goodwill.

Liquidity and Capital Resources

Cash Provided from Operations

Net cash provided from continuing operations was $3,591, $3,180 and $2,914 for 2011, 2010 and 2009, respectively, and was impacted by the following key factors:

	Years Ended December 31,
	2011			2010			2009
Consolidated gold ounces sold (in thousands)		5,820			6,296			6,534
Average price received per ounce of gold, net	$	1,562		$	1,222		$	977
Costs applicable to sales per ounce of gold(1)		(591	)		(485	)		(411	)
Operating margin per ounce of gold(2)	$	971		$	737		$	566
Consolidated copper pounds sold (in millions)		356			539			507
Average price received per pound of copper, net	$	3.54		$	3.43		$	2.60
Costs applicable to sales per pound of copper(1)		(1.26	)		(0.80	)		(0.64	)
Operating margin per pound of copper(2)	$	2.28		$	2.63		$	1.96

⁽¹⁾  Excludes Amortization and Reclamation and remediation.

⁽²⁾  See “Non-GAAP Financial Measures” on page 83.

Net cash provided from continuing operations was a record $3,591 in 2011, an increase of $411 from 2010 due to higher realized gold prices resulting in an increase in gold operating margin and a lower increase in working capital of $443 (trade receivables, accounts payable and other accrued liabilities); partially offset by higher Costs applicable to sales resulting in a decrease in copper operating margin and lower gold and copper sales volumes as discussed above in Consolidated Financial Results. The increase was also partially offset by higher investments in advanced projects of $157 and exploration of $132 and higher current income and mining tax expense of $148. Cash flow provided from operations during 2010 was $3,180, an increase of $266 from 2009 due to higher realized gold and copper prices resulting in an increase in operating margins and increased consolidated copper sales volume; partially offset by

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decreased gold sales volume as discussed above in Consolidated Financial Results. The increase was also partially offset by higher Costs applicable to sales, primarily from a full year of Boddington operations, higher interest expense of $159, higher current income and mining tax expense of $408, and an additional $527 investment in working capital (trade receivables, inventories, stockpiles and ore on leach pads).

We are currently planning to contribute $35 to our retirement benefit programs in 2012. For additional discussion see Note 8 to the Consolidated Financial Statements.

Investing Activities

Net cash used in investing activities was $5,067 in 2011 compared to $1,419 and $2,781 in 2010 and 2009, respectively, for the reasons explained below.

Additions to property, plant and mine development were $2,787, $1,402 and $1,769 in 2011, 2010 and 2009, respectively, as follows:

	Years Ended December 31,
	2011			2010		2009
North America:
Nevada	$	559		$	298	$	205
Hope Bay		101			115		5
La Herradura		81			41		54
		741			454		264
South America:
Yanacocha		360			167		119
Conga		739			134		27
		1,099			301		146
Asia Pacific:
Boddington		217			146		1,093
Batu Hijau		196			67		44
Other Australia/New Zealand		294			176		122
Other Asia Pacific		18			17		3
		725			406		1,262
Africa:
Ahafo		116			109		75
Akyem		248			70		10
		364			179		85
Corporate and Other		35			34		16
Accrual basis		2,964			1,374		1,773
Decrease (increase) in accrued capital expenditures		(177	)		28		(4	)
Cash basis	$	2,787		$	1,402	$	1,769

Capital expenditures in Nevada during 2011 included $52 for Leeville/Turf development, $227 for surface and underground development, $98 for process facilities improvements and upgrades, $25 for mine equipment and $24 for reserve conversion and other capital drilling in Nevada. Expenditures at La Herradura were $81 primarily for land purchases, development of Noche Buena and equipment

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purchases. Hope Bay expenditures included $101 primarily for construction activities and mill equipment. South America capital expenditures included $229 for surface development and $53 for surface equipment at Yanacocha and $739 primarily for engineering, construction, equipment and off-site infrastructure at Conga. Capital expenditures in Asia Pacific included $228 for surface and underground equipment, $149 for surface and underground mine development, $78 for land purchases, $71 for process facilities and $65 for tailings facilities. Capital expenditures in Africa included $55 for Subika underground expansion, $18 for equipment at Ahafo and $248 primarily for land acquisitions, engineering, construction and surface development at the Akyem project.

Capital expenditures in North America during 2010 included $41 for La Herradura primarily for equipment purchases, leach pad expansion and surface development, $43 for Leeville/Turf development, $95 for surface and underground development, $37 for process facilities improvements and upgrades, $26 for reserve conversion and other capital drilling and $22 for mine equipment in Nevada. Hope Bay expenditures included $115 primarily for equipment and other infrastructure. South America capital expenditures included $134 primarily for engineering, capitalized labor costs and land acquisitions for the Conga project and $53 for leach pad expansions, $31 for surface equipment and $20 for surface improvements at Yanacocha. Capital expenditures in Asia Pacific included $109 for surface and underground equipment, $83 for surface improvements and underground mine development, $88 for tailings facilities and $55 for process facilities. Capital expenditures in Africa included $26 for Amoma construction, $38 for the Subika expansion project, $21 for tailings dams and $70 primarily for land acquisitions and surface development for the Akyem project.

Capital expenditures in North America during 2009 included $54 for La Herradura development of Soledad-Dipolos, $20 for Leeville/Turf development, $71 for surface and underground development, $24 for reserve conversion and other capital drilling and $23 for mine equipment in Nevada. Hope Bay expenditures included $5 for project infrastructure. South America capital expenditures included $27 for the Conga project and $37 for leach pad expansions and $32 for surface improvements at Yanacocha. Capital expenditures in Asia Pacific included $1,093 for Boddington and $106 for surface and underground mine development in Other Australia/New Zealand. Batu Hijau’s capital expenditures included $10 for mine equipment purchases and $17 for mine dewatering. Capital expenditures in Africa included $6 for infrastructure and land, $28 for Amoma land acquisition and road construction, $14 for tailings dams and $10 for the Akyem project.

During 2011, 2010 and 2009, $52, $57 and $29, respectively, of drilling and related costs were capitalized and included in mine development costs. These capitalized costs included $11 at North America, $16 at South America, $14 at Asia Pacific and $11 at Africa in 2011; $26 at North America, $23 at Asia Pacific and $8 at Africa in 2010; $24 at North America and $5 at Asia Pacific in 2009.

During 2011, 2010 and 2009, $214, $36 and $26, respectively, of pre-stripping costs were capitalized and included in mine development costs. Pre-stripping costs included Nevada (East Carlin, Star Complex and North Lantern) pits in North America and Yanacocha (El Tapado Oeste, Cerro Negro and Maqui Maqui) and Conga pits in South America in 2011, the Lantern 3 pit in Nevada and El Tapado Oeste pit at Yanacocha in 2010 and the North Lantern pit in Nevada in 2009.

We anticipate capital expenditures of approximately $4,000 to $4,300 in 2012, with approximately 60% to be spent on major project initiatives, including further development of Akyem in Ghana, the Tanami Shaft in Australia, the Nevada project portfolio and potentially Conga in Peru. The remaining 40% is expected to be spent on several expansion and optimization projects, routine replacements, new project development and other mine life extension efforts.

Acquisitions, net.    On April 6, 2011, Newmont acquired all of the outstanding common shares of Fronteer Gold Inc. (“Fronteer”) for total consideration of $2,259 less cash received from the acquisition of $2 for a net payment of $2,257. In connection with the acquisition, Newmont incurred transaction costs of $22 during 2011, which were recorded in Other Expense, net. In 2009, we paid $982 to

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acquire the remaining 33.33% interest in Boddington. Consideration also included quarterly contingent payments capped at a combined $100, equal to 50% of the average realized operating margin (Sales less Costs applicable to sales on a by-product basis), if any, exceeding $600 per ounce, payable on one-third of gold sales from Boddington beginning in the second quarter of 2010. During 2011 and 2010, we paid $30 and $4, respectively, in contingent payments in accordance with the Boddington acquisition agreement. Additionally, we paid $11 for our share of the Noche Buena mining property near the La Herradura, Mexico operation in 2009.

Purchases and sales of marketable securities.    During 2011, we purchased marketable securities of $21 and we received $81 from the sale of our investments in New Gold, Inc. and other marketable securities. During 2010, we purchased marketable securities of $28 and we received $3 for the sale of marketable securities. During 2009, we purchased marketable securities of Regis Resources for $5 and we received $17 for the sale of Regis Resources shares and other marketable securities.

Proceeds from sale of other assets.    During 2011, we received $9 primarily from the sale of investments. During 2010, we received $13 from the sale of our 40% interest in AGR and $5 and $4 for the sale of exploration properties in Armenia and Guyana, respectively. We also received $34 from the sale of other assets including non-core assets held at Tanami. During 2009, proceeds included $14 for the sale of other mining projects.

Financing Activities

Net cash provided from (used in) financing activities of continuing operations was $(854) in 2011, compared to $(915) and $2,572 in 2010 and 2009, respectively, for the reasons explained below.

Proceeds from debt, net.    During 2011, we borrowed $2,041 under our revolving credit facility and paid debt issuance costs of $30.

During 2009, we received proceeds from debt of $4,299, including $1,756 under our revolving credit facility, $1,080 net proceeds from the issuance of senior notes due in 2039, $895 net proceeds from the issuance of senior notes due in 2019, $504 net proceeds from the issuance of convertible senior notes due in 2012 and $64 from other credit facilities.

At December 31, 2011, $244 of the $2,500 revolving credit facility was used to secure the issuance of letters of credit, primarily supporting reclamation obligations (see “Off-Balance Sheet Arrangements” below) and $33 was used in outstanding borrowings.

Repayment of debt.    During 2011, we repaid $2,273 of debt, including repayment of $2,008 under our revolving credit facility and scheduled debt repayments of $223 for our 8 5/8% debentures, $30 related to the sale-leaseback of the refractory ore treatment plant (classified as a capital lease) and $12 on other credit facilities and capital leases.

During 2010, we repaid $430 of debt, including pre-payment of the $220 remaining under the PTNNT project financing facility and $96 and $52 under Yanacocha’s senior notes and credit facility, respectively, and scheduled debt repayments of $24 related to the sale-leaseback of the refractory ore treatment plant and $38 on other credit facilities and capital leases. During 2009, we repaid $2,731 of debt, including $2,513 under our revolving credit facility, $86 for Batu Hijau project financing scheduled debt repayments, $72 for short-term borrowings at Batu Hijau, $24 related to the sale-leaseback of the refractory ore treatment plant and $36 on other credit facilities and capital leases.

Scheduled minimum debt repayments are $689 in 2012, $10 in 2013, $522 in 2014, $10 in 2015, $43 in 2016 and $3,039 thereafter. We expect to be able to fund maturities of debt from Net cash provided by operating activities, short-term investments, existing cash balances, available credit facilities and an expected debt issuance in the first half of 2012.

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At December 31, 2011 and 2010, we were in compliance with all required debt covenants and other restrictions related to our debt agreements.

Proceeds from stock issuance, net.    We received proceeds of $40, $60 and $1,278 during 2011, 2010 and 2009, respectively, from the issuance of common stock. In February 2009, we completed a public offering of 34,500,000 shares of common stock at $37 per share for net proceeds of $1,236.

Sale of noncontrolling interests.    In March 2010, November 2009 and December 2009, NTPBV completed the sale of 7%, 10% and 7%, respectively, of shares in PTNNT to a third party buyer. These transactions reduced our ownership interest in PTNNT to 31.5%. Cash proceeds from the 2010 and 2009 sales were $229 and $638, respectively, with our 56.25% share being $129 and $359, respectively, and the remaining balances paid to our NTPBV partner.

Acquisition of noncontrolling interests.    In June 2010, PTPI, an unrelated noncontrolling shareholder of PTNNT, completed the sale of a 2.2% interest in PTNNT to PTIMI. To enable the transaction to proceed, we released our rights to the dividends payable on this 2.2% interest and released our security interest in the associated shares. We agreed to advance certain funds to PTIMI to enable it to purchase the 2.2% interest in exchange for (i) a pledge of their share of PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, and (iii) a commitment to support the application of Newmont standards to the operation of the Batu Hijau mine. The funds that we advanced to PTIMI and which it paid to PTPI for the shares were used by PTPI to reduce its outstanding loan balance with us. Upon completion of this transaction, PTPI requested and was allowed to make additional draw-downs under our agreement with PTPI. Our economic interest in PTPI’s and PTIMI’s combined 20% ownership interest in PTNNT remains at 17% and did not change as a result of these transactions.

In December 2009, we entered into a transaction with PTPI whereby we agreed to advance certain funds to PTPI in exchange for (i) a pledge of its 20% share of PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, (iii) a commitment to support the application of Newmont standards to the operation of the Batu Hijau mine, and (iv) as of September 16, 2011, powers of attorney to vote and sell PTNNT shares in support of the pledge, enforceable in the event of default as further security for the funding. As a result, our effective economic interest in PTNNT increased by 17%.

Dividends paid to noncontrolling interests.    We paid dividends of $117, $462 and $394 to noncontrolling interests during 2011, 2010 and 2009, respectively. The payments in 2011 included $15 of Indonesian withholding taxes related to dividends paid to noncontrolling interests in December 2010. The dividends paid in 2010 and 2009, included $100 and $279, respectively, for our NTPBV partner’s share of the interest sold in Batu Hijau during those years.

Dividends paid to common stockholders.    We paid annual dividends of $1.00, $0.50 and $0.40 per common share during 2011, 2010 and 2009, respectively. Additionally, Newmont Mining Corporation of Canada Limited, a subsidiary of the Company, paid annual dividends of C$1.00, C$0.52 and C$0.46 during 2011, 2010 and 2009, respectively. On February 22, 2012, we declared a regular quarterly dividend of $0.35 per share, payable March 30, 2012 to holders of record at the close of business on March 15, 2012. Total dividends paid to common stockholders were $494, $246 and $196 in 2011, 2010 and 2009, respectively.

Discontinued Operations

Net operating cash provided from (used in) discontinued operations was $(7) in 2011, compared to $(13) and $33 in 2010 and 2009, respectively. Discontinued operations in 2011 relate to payments on the Holt property royalty. The 2010 and 2009 amounts related to the Kori Kollo operation in Bolivia which was sold in 2009.

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Net cash used in financing activities of discontinued operations was $2 in 2009 for repayment of debt at Kori Kollo.

Corporate Revolving Credit Facility

Effective May 20, 2011, the Company entered into a new uncollateralized $2,500 revolving credit facility with a syndicate of commercial banks. This new revolving credit facility replaced the existing revolving credit facility which was cancelled upon the effectiveness of the new facility. The new facility provides for borrowings in U.S. dollars and contains a letter of credit sub-facility. The new facility matures in May 2016. Facility fees vary based on the credit ratings of the Company’s senior, uncollateralized, long-term debt. Borrowings under the facility bear interest at a market based rate plus a margin determined by the Company’s credit rating. At December 31, 2011, we had $33 borrowings outstanding under the facility. There was $244 and $153 outstanding in letters of credit at December 31, 2011 and 2010, respectively.

Subsidiary Financings

PTNNT Revolving Credit Facility

Effective May 27, 2011, PTNNT entered into a new $600 reducing revolving credit facility with a syndicate of banks. This new reducing revolving facility provides for borrowings in U.S. dollars. The facility matures in March 2017. The facility is non-recourse to Newmont and substantially all of PTNNT’s assets are pledged as collateral. Borrowings under the facility bear interest at a rate per annum equal to LIBOR plus a margin of 4.00%. Commitment fees currently accrue on the daily average unused amount of the commitment of each lender at an annual rate of 2.00%. There were no borrowings outstanding under the facility at December 31, 2011.

Debt Covenants

The Company’s senior notes and sale-leaseback of the refractory ore treatment plant debt facilities contain various covenants and default provisions including payment defaults, limitation on liens, limitation on sales and leaseback agreements and merger restrictions.

The Ahafo project facility contains a financial ratio covenant requiring the Company to maintain a net debt (total debt net of cash and cash equivalents) to EBITDA (earnings before interest expense, income and mining taxes, depreciation and amortization) ratio of less than or equal to 4.0 and a net debt to total capitalization ratio of less than or equal to 62.5%.

In addition to the covenants noted above, the corporate revolving credit facility contains a financial ratio covenant requiring the Company to maintain a net debt (total debt net of cash and cash equivalents) to total capitalization ratio of less than or equal to 62.5%. Furthermore, the corporate revolving credit facility contains covenants limiting the sale of all or substantially all of the Company’s assets, certain change of control provisions and a negative pledge on certain assets.

At December 31, 2011 and 2010, we were in compliance with all debt covenants and provisions related to potential defaults.

Shelf Registration Statement

In September 2009, we filed with the Securities and Exchange Commission (the “SEC”) a shelf registration statement on Form S-3 which enables the Company to issue an indeterminate number or amount of common stock, preferred stock, debt securities, guarantees of debt securities and warrants from time to time at indeterminate prices. It also included the resale of an indeterminate amount of common stock, preferred stock and debt securities from time to time upon exercise of warrants or conversion of convertible securities.

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Contractual Obligations

Our contractual obligations at December 31, 2011 are summarized as follows:

	Payments Due by Period
Contractual Obligations	Total		Less than 1 Year		1 - 3 Years		4 - 5 Years		More than 5 Years
Debt(1)	$	7,374	$	701	$	1,038	$	815	$	4,820
Capital lease obligations(2)		168		167		1		—		—
Reclamation and remediation obligations(3)		1,959		72		214		152		1,521
Employee-related benefits(4)		657		71		136		84		366
Uncertain income tax liabilities and interest(5)		88		—		—		—		88
Operating leases		100		23		40		20		17
Minimum royalty payments		362		28		83		55		196
Purchase obligations(6)		725		142		188		89		306
Other(7)		884		258		482		70		74
	$	12,317	$	1,462	$	2,182	$	1,285	$	7,388

⁽¹⁾  Amounts represent principal ($4,147) and estimated interest payments ($3,227) assuming no early extinguishment.

⁽²⁾  Amounts represent principal ($166) and estimated interest payments ($2) which includes the early buy-out option of the refractory ore treatment plant discussed in Note 23 to the Consolidated Financial Statements.

⁽³⁾  Mining operations are subject to extensive environmental regulations in the jurisdictions in which they operate. Pursuant to environmental regulations, we are required to close our operations and reclaim and remediate the lands that operations have disturbed. The estimated undiscounted cash outflows of these reclamation and remediation obligations are reflected here. For more information regarding reclamation and remediation liabilities, see Note 4 to the Consolidated Financial Statements.

⁽⁴⁾  Contractual obligations for Employee-related benefits include severance, workers’ participation, pension and other benefit plans. Pension plan benefit payments beyond 2016 cannot be reasonably estimated given variable market conditions and actuarial assumptions and are not included.

⁽⁵⁾  We are unable to reasonably estimate the timing of our uncertain income tax liabilities and interest payments beyond 2012 due to uncertainties in the timing of the effective settlement of tax positions.

⁽⁶⁾  Purchase obligations are not recorded in the Consolidated Financial Statements. Purchase obligations represent contractual obligations for purchase of power, materials and supplies, consumables, inventories and capital projects.

⁽⁷⁾  Other includes accrued Boddington contingent consideration of $54, the accrued Holt royalty of $176 and other obligations which are not reflected in our Consolidated Financial Statements including labor and service contracts. Payments related to derivative contracts cannot be reasonably estimated given variable market conditions. See Note 17 to the Consolidated Financial Statements.

Off-Balance Sheet Arrangements

We have the following off-balance sheet arrangements: operating leases (as disclosed in the above table) and $1,354 of outstanding letters of credit, surety bonds and bank guarantees (see Note 31 to the Consolidated Financial Statements).

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We also have sales agreements to sell copper and gold concentrates at market prices as follows (in thousands of tons):

	2012		2013		2014		2015		2016		Thereafter
Batu Hijau		327		344		518		––		––		––
Boddington		220		243		154		154		154		253
Nevada		75		––		––		––		––		––
		622		587		672		154		154		253

For information regarding these copper sales agreements, see Item 7A, Quantitative and Qualitative Disclosures about Market Risk-Hedging, Provisional Copper and Gold Sales, below.

Future Cash Flows

We anticipate significant future capital expenditures (see Investing Activities, above), funding of exploration and advanced projects, debt repayments and dividends to both common shareholders and noncontrolling interests will impact Net cash used in investing activities and Net cash used in financing activities and exceed Net cash provided by operations. Our ability to raise and service significant new sources of capital will be a function of macroeconomic conditions, future gold and copper prices as well as our operational performance, current cash flow and debt position, among other factors. We may determine that it is necessary or appropriate to issue additional equity or other securities, defer projects or sell assets. Additional financing may not be available when needed or, if available, the terms of such financing may not be favorable to us and, if raised by offering equity securities, may involve substantial dilution to existing stockholders. In the event of lower gold and copper prices, unanticipated operating or financial challenges, or new funding limitations, our ability to pursue new business opportunities, invest in existing and new projects, fund our ongoing business activities, retire or service all outstanding debt and pay dividends could be significantly constrained. For information on our long-term debt, capital lease obligations and operating leases, see Note 23 to the Consolidated Financial Statements.

In 2011, we entered into forward starting swaps position amounts with a total notional value of $2,000. These swaps hedge movements in treasury rates related to an expected debt issuance in the first half of 2012. At December 31, 2011, the hedge contracts were in a liability position of $399. The proceeds from the expected debt issuance will be impacted by the fair value of the swap contracts at the time of issuance. If the anticipated debt issuance does not proceed, we will be required to cash settle the swap contracts with the full amount of the payment charged against earnings.

Cash flows are expected to be impacted by variations in the realized prices of gold and copper. For information on the sensitivity of our Net cash provided by operations to metal prices, see Item 7A, Quantitative and Qualitative Disclosures about Market Risk.

Cash flows are also expected to be impacted by variations in foreign currency exchange rates in relation to the U.S. dollar, particularly with respect to the Australian dollar. Accordingly, we have entered into derivative instruments to reduce the volatility of Costs applicable to sales in Asia Pacific. For information concerning the sensitivity of our Costs applicable to sales to changes in foreign currency exchange rates, see Results of Consolidated Operations, Foreign Currency Exchange Rates, above. For information on the sensitivity of our Net cash provided from operations to foreign currency exchange rates, see Item 7A, Quantitative and Qualitative Disclosures about Market Risk. Net cash provided from operations will also be impacted in 2012 as a result of planned contributions of $35 for our post-retirement benefit programs.

Based on expected attributable production of between 5.0 and 5.2 million ounces of gold and between 150 and 170 million pounds of copper in 2012, we do not anticipate reasonably expected

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variations in our production profile alone to influence our ability to pay our debt and other obligations in 2012.

Environmental

Our mining and exploration activities are subject to various federal and state laws and regulations governing the protection of the environment. We have made, and expect to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. At December 31, 2011 and 2010, $1,070 and $904, respectively, were accrued for reclamation costs relating to currently, recently producing or developmental stage mineral properties, of which $47 is classified as a current liability. For more information on the Company’s reclamation and remediation liabilities, see Note 4 to the Consolidated Financial Statements.

In addition, we are involved in several matters concerning environmental obligations associated with former mining activities. Based upon our best estimate of our liability for these matters, $170 and $144 were accrued for such obligations at December 31, 2011 and 2010, respectively. We spent $15, $23 and $20 in 2011, 2010 and 2009, respectively, for environmental obligations related to former, primarily historic, mining activities, and have classified $24 as a current liability. Expenditures for 2011 related primarily to the Con mine in Canada which was acquired as part of the Miramar acquisition, the Mt. Leyshon property in Australia, which is a legacy Normandy site and the Dawn mill site in Washington State. Expenditures for 2010 related primarily to the Con mine in Canada, the Mt. Leyshon property in Australia, the Dawn mill site in Washington State and Resurrection, a mine site in Leadville, Colorado. Expenditures for 2009 related primarily to Grass Valley in California, the Mt. Leyshon property, the Dawn mill site and the Con mine. For more information on the Company’s obligations associated with former mining activities, see Note 31 to the Consolidated Financial Statements.

Included in capital expenditures were $172, $118 and $131 in 2011, 2010 and 2009, respectively, to comply with environmental regulations. Ongoing costs to comply with environmental regulations have not been a significant component of Costs applicable to sales.

Forward-Looking Statements

The foregoing discussion and analysis, as well as certain information contained elsewhere in this Annual Report, contain “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, and are intended to be covered by the safe harbor created thereby. See the discussion in Forward-Looking Statements in Item 1, Business.

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.

Adjusted net income

Management of the Company uses 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 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. 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

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analysts. Net income attributable to Newmont stockholders is reconciled to Adjusted net income as follows:

	Years Ended December 31,
	2011			2010			2009
Net income attributable to Newmont stockholders	$	366		$	2,277		$	1,297
Hope Bay impairment		1,609			—			—
Loss from discontinued operations		136			28			11
Other impairments/asset sales		105			(35	)		(8	)
Acquisition costs		18			—			44
Boddington contingent consideration		1			1			15
PTNNT community contribution		—			13			—
Income tax planning, net		(65	)		(391	)		—
Adjusted net income	$	2,170		$	1,893		$	1,359
Net income per share	$	0.74		$	4.63		$	2.66
Adjusted net income per share	$	4.39		$	3.85		$	2.79

Costs applicable to sales per ounce/pound

Costs applicable to sales per ounce/pound are non-GAAP financial measures. These measures are calculated by dividing the costs applicable to sales of gold and copper by gold ounces or copper pounds sold, respectively. These measures are calculated on a consistent basis for the periods presented on both a consolidated and attributable to Newmont basis. Attributable costs applicable to sales are based on our economic interest in production from our mines. For operations where we hold less than a 100% economic share in the production, we exclude the share of gold or copper production attributable to the noncontrolling interest. We include attributable costs applicable to sales per ounce/pound to provide management, investors and analysts with information with which to compare our performance to other gold producers. Costs applicable to sales per ounce/pound statistics are intended to provide additional information only and do not have any standardized meaning prescribed by GAAP and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The measures are not necessarily indicative of operating profit or cash flow from operations as determined under GAAP. Other companies may calculate these measures differently.

Net attributable costs applicable to sales per ounce measures the benefit of copper produced in conjunction with gold, as a credit against the cost of producing gold. A number of other gold producers present their costs net of the contribution from copper and other non-gold sales. We believe that including a measure on this basis provides management, investors and analysts with information with which to compare our performance to other gold producers, and to better assess the overall performance of our business. In addition, this measure provides information to enable investors and analysts to understand the importance of non-gold revenues to our cost structure.

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NEWMONT MINING CORPORATION

The following tables reconcile these non-GAAP measures to the most directly comparable GAAP measures.

Costs applicable to sales per ounce/pound

	Gold									Copper
	Years Ended December 31,									Years Ended December 31,
	2011			2010			2009			2011			2010			2009
Costs applicable to sales:
Consolidated per financial statements	$	3,440		$	3,054		$	2,685		$	450		$	430		$	323
Noncontrolling interests(1)		(442	)		(395	)		(391	)		(171	)		(169	)		(174	)
Attributable to Newmont	$	2,998		$	2,659		$	2,294		$	279		$	261		$	149
Gold/Copper sold (thousand ounces/million pounds):
Consolidated		5,820			6,296			6,534			356			539			507
Noncontrolling interests(1)		(795	)		(1,043	)		(1,317	)		(153	)		(246	)		(281	)
Attributable to Newmont		5,025			5,253			5,217			203			293			226
Costs applicable to sales per ounce/pound:
Consolidated	$	591		$	485		$	411		$	1.26		$	0.80		$	0.64
Attributable to Newmont	$	597		$	506		$	440		$	1.37		$	0.89		$	0.66

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NEWMONT MINING CORPORATION

Net attributable costs applicable to sales per ounce

	Years Ended December 31,
	2011			2010			2009
Attributable costs applicable to sales:
Gold	$	2,998		$	2,659		$	2,294
Copper		279			261			149
		3,277			2,920			2,443
Copper revenue:
Consolidated		(1,262	)		(1,848	)		(1,319	)
Noncontrolling interests(1)		542			847			730
		(720	)		(1,001	)		(589	)
Net attributable costs applicable to sales	$	2,557		$	1,919		$	1,854
Attributable gold ounces sold (thousands)		5,025			5,253			5,217
Net attributable costs applicable to sales per ounce	$	509		$	365		$	355

⁽¹⁾  Relates to partners’ interests in Batu Hijau and Yanacocha.

Operating margin per ounce/pound

Operating margin per ounce/pound are non-GAAP financial measures. These measures are calculated by subtracting the costs applicable to sales per ounce of gold and per pound of copper from the average realized gold price per ounce and copper price per pound, respectively. These measures are calculated on a consistent basis for the periods presented on a consolidated basis. Operating margin per ounce/pound statistics are intended to provide additional information only and do not have any standardized meaning prescribed by GAAP and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The measures are not necessarily indicative of operating profit or cash flow from operations as determined under GAAP. Other companies may calculate these measures differently. Operating margin per ounce/pound is calculated as follows:

	Gold									Copper
	Years Ended December 31,									Years Ended December 31,
	2011			2010			2009			2011			2010			2009
Average realized price per ounce/pound	$	1,562		$	1,222		$	977		$	3.54		$	3.43		$	2.60
Costs applicable to sales per ounce/pound		(591	)		(485	)		(411	)		(1.26	)		(0.80	)		(0.64	)
	$	971		$	737		$	566		$	2.28		$	2.63		$	1.96

ITEM 7A.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK (dollars in    millions except per share, per ounce and per pound amounts)

Metal Price

Changes in the market price of gold and copper significantly affect our profitability and cash flow. Gold prices can fluctuate widely due to numerous factors, such as demand; forward selling by producers; central bank sales, purchases and lending; investor sentiment; the relative strength of the U.S. dollar and global mine production levels. Copper is traded on established international exchanges and copper prices generally reflect market supply and demand, but can also be influenced by speculative trading in the commodity or by currency exchange rates.

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Foreign Currency

Changes in the foreign currency exchange rates in relation to the U.S. dollar may affect our profitability and cash flow. Foreign currency exchange rates can fluctuate widely due to numerous factors, such as supply and demand for foreign and U.S. currencies and U.S. and foreign country economic conditions. In addition to our operations in the United States, we have assets or operations in Australia, Peru, Indonesia, Ghana, Mexico, New Zealand and Canada. All of our operations sell their metal production based on U.S. dollar gold and copper prices. Fluctuations in the local currency exchange rates in relation to the U.S. dollar can increase or decrease profit margins and Costs applicable to sales per ounce to the extent costs are paid in local currency at foreign operations. The Australian dollar/U.S. dollar exchange rate has had the greatest impact on our Costs applicable to sales, as measured in U.S. dollars. However, variations in the Australian dollar/U.S. dollar exchange rate have historically been strongly correlated to variations in the U.S. dollar gold price over the long-term. Increases or decreases in costs at Australian gold operations due to exchange rate changes have therefore tended to be mitigated by changes in sales reported in U.S. dollars for such locations. No assurance can be given that the Australian dollar/U.S. dollar exchange rate will continue to be strongly correlated to the U.S. dollar gold price in the future, or that short-term changes in the Australian dollar/U.S. dollar exchange rate will not have an impact on our profitability and cash flow. Foreign currency exchange rates in relation to the U.S. dollar have not had a material impact on our determination of proven and probable reserves in the past. However, if a sustained weakening of the U.S. dollar in relation to the Australian dollar, and/or to other foreign currencies that impact our cost structure, were not mitigated by offsetting increases in the U.S. dollar gold price or by other factors, profitability, cash flows and the amount of proven and probable reserves in the applicable foreign country could be reduced. The extent of any such reduction would be dependent on a variety of factors including the length of time of any such weakening of the U.S. dollar, and management’s long-term view of the applicable exchange rate. For information concerning the sensitivity of our Costs applicable to sales to changes in foreign currency exchange rates, see Item 7, Management’s Discussion and Analysis of Consolidated Results of Operations and Financial Condition-Results of Consolidated Operations-Foreign Currency Exchange Rates, above.

Hedging

Our strategy is to provide shareholders with leverage to changes in gold and copper prices by selling our production at spot market prices. Consequently, we do not hedge our gold and copper sales. We have and will continue to manage certain risks associated with commodity input costs, interest rates and foreign currencies using the derivative market.

By using derivatives, we are affected by credit risk, market risk and market liquidity risk. Credit risk is the risk that a third party might fail to fulfill its performance obligations under the terms of a financial instrument. We mitigate credit risk by entering into derivatives with high credit quality counterparties, limiting the amount of exposure to each counterparty, and monitoring the financial condition of the counterparties. Market risk is the risk that the fair value of a derivative might be adversely affected by a change in underlying commodity prices, interest rates, or currency exchange rates, and that this in turn affects our financial condition. We manage market risk by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken. We mitigate this potential risk to our financial condition by establishing trading agreements with counterparties under which we are not required to post any collateral or make any margin calls on our derivatives. Our counterparties cannot require settlement solely because of an adverse change in the fair value of a derivative. Market liquidity risk is the risk that a derivative cannot be eliminated quickly, by either liquidating it or by establishing an offsetting position. Under the terms of our trading agreements, counterparties cannot require us to immediately settle outstanding derivatives, except upon the occurrence of customary events of default such as covenant breeches, including financial covenants, insolvency or bankruptcy. We further mitigate market liquidity risk by spreading out the maturity of our derivatives over time.

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NEWMONT MINING CORPORATION

Cash Flow Hedges

We utilize foreign currency contracts to reduce the variability of the US dollar amount of forecasted foreign currency expenditures caused by changes in exchange rates. We hedge a portion of our A$ and NZ$ denominated operating expenditures which results in a blended rate realized each period. The hedging instruments are fixed forward contracts with expiration dates ranging up to five years from the date of issue. The principal hedging objective is reduction in the volatility of realized period-on-period $/A$ and $/NZ$ rates, respectively. We also utilize foreign currency contracts to hedge a portion of the Company’s A$ denominated capital expenditures related to the construction of the Akyem project in Africa and the Tanami mine shaft in Australia. The hedging instruments are fixed forward contracts with expiration dates ranging up to three years. We use diesel contracts to reduce the variability of our operating cost exposure related to diesel prices of fuel consumed at our Nevada operations. We utilize forward starting swap contracts to hedge against adverse movements in interest rates related to an expected debt issuance. All of the currency, diesel and forward starting swap contracts have been designated as cash flow hedges of future expenditures, and as such, changes in the market value have been recorded in Accumulated other comprehensive income. Gains and losses from hedge ineffectiveness are recognized in current earnings.

Foreign Currency Exchange Risk

We had the following foreign currency derivative contracts outstanding at December 31, 2011 and 2010:

	Expected Maturity Date																	Fair Value, Net
	2012			2013			2014			2015			2016			Total Average		At December 31, 2011 2010
A$ Operating Fixed Forward Contracts:
A$ notional (millions)		1,218			951			665			375			141			3,350	$	223		$	295
Average rate ($/A$)		0.91			0.92			0.89			0.87			0.89			0.90
Expected hedge ratio		76	%		62	%		46	%		26	%		10	%
A$ Capital Fixed Forward Contracts:
A$ notional (millions)		57			51			22			—			—			130	$	(1	)	$	—
Average rate ($/A$)		1.01			0.98			0.96			—			—			0.99
Expected hedge ratio		42	%		28	%		23	%		—			—
NZ$ Operating Fixed Forward Contracts:
NZ$ notional (millions)		62			23			—			—			—			85	$	1		$	6
Average rate ($/NZ$)		0.75			0.77			—			—			—			0.76
Expected hedge ratio		48	%		20	%		—			—			—

Diesel Price Risk

We had the following diesel derivative contracts outstanding at December 31, 2011 and 2010:

	Expected Maturity Date											Fair Value, Net
	2012			2013			2014			Total Average		At December 31, 2011 2010
Diesel Fixed Forward Contracts:
Diesel gallons (millions)		25			11			3			39	$	1	$	8
Average rate ($/gallon)		2.81			2.90			2.82			2.84
Expected Nevada hedge ratio		56	%		24	%		7	%

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NEWMONT MINING CORPORATION

Forward Starting Swap Contracts

In 2011, we entered into forward starting swap contracts with a total notional value of $2,000. These contracts hedge movements in treasury rates related to an expected debt issuance. Subsequent to entering into the forward starting swap contracts, we revised our expected debt issuance date to the first half of 2012 and extended the terms of the forward starting swap contracts resulting in the recognition of a $15 charge related to hedge ineffectiveness. At December 31, 2011, the hedge contracts were in a liability position of $399. The proceeds from the expected debt issuance will be adjusted by the fair value of the swap contracts at the time of issuance. If the anticipated debt issuance does not proceed, we will be required to cash settle the swap contracts with the full amount of the payment charged against earnings.

Treasury Rate Lock Contracts

In connection with the 2019 and 2039 notes issued in September 2009, we acquired treasury rate lock contracts to reduce the variability of the proceeds realized from the bond issuances. The treasury rate locks resulted in $6 and $5 unrealized gains in Accumulated other comprehensive income for the 2019 and 2039 notes, respectively. We previously acquired treasury rate locks in connection with the issuance of the 2035 notes that resulted in a $10 unrealized loss in Accumulated other comprehensive income. The gains/losses from these contracts are recognized in Interest expense, net over the terms of the respective notes.

Fair Value Hedges

Interest Rate Risk

We had $222 fixed to floating swap contracts designated as a hedge against debt which matured in May 2011. The fair value of the interest rate swaps was $3 at December 31, 2010.

Provisional Copper and Gold Sales

Our provisional copper and gold sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the gold and copper concentrates at the prevailing indices’ prices at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to final settlement.

The average LME copper price was $4.00 per pound during 2011, compared with the Company’s recorded average provisional price of $4.02 before mark-to-market losses and treatment and refining charges. During 2011, decreasing copper prices resulted in a provisional pricing mark-to-market loss of $92 ($0.26 per pound). At December 31, 2011, Newmont had copper sales of 79 million pounds priced at an average of $3.43 per pound, subject to final pricing over the next several months. Each $0.10 change in the price for provisionally priced sales would have an approximate $3 effect on our Net income attributable to Newmont stockholders.

The average London P.M. fix for gold was $1,572 per ounce during 2011, compared with the Company’s recorded average provisional price of $1,567 per ounce before mark-to-market gains and treatment and refining charges. During 2011, increasing gold prices resulted in a provisional pricing mark-to-market gain of $31 ($5 per ounce). At December 31, 2011, Newmont had gold sales of 85,000 ounces priced at an average of $1,576 per ounce, subject to final pricing over the next several months. Each $25 change in the price for provisionally priced gold sales would have an approximate $1 effect on our Net income attributable to Newmont stockholders.

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NEWMONT MINING CORPORATION

Fixed and Variable Rate Debt

We have both fixed and variable rate debt. 98% and 99% of our debt portfolio was fixed rate debt at December 31, 2011 and 2010, respectively. The carrying value of fixed rate debt slightly decreased primarily due to the repayment of the 2011 8 5/8% debentures, partially offset by note discount amortization. Our fixed rate debt exposure at December 31, 2011 and 2010 is summarized as follows:

	At December 31,
	2011		2010
Carrying value of fixed rate debt	$	4,059	$	4,209
Fair value of fixed rate debt(1)	$	5,010	$	5,016
Pro forma fair value sensitivity of fixed rate debt of a +/–10 basis point interest rate change(2)	$	+/-36	$	+/–38

⁽¹⁾  Excludes specialized and hybrid debt instruments for which it is not practicable to estimate fair values and pro forma fair values or sensitivities. These instruments include the Sale-Leaseback of the Refractory Ore Treatment Plant and certain capital leases. The estimated fair value quoted above may or may not reflect the actual trading value of these instruments.

⁽²⁾  The pro forma information assumes a +/–10 basis point change in market interest rates at December 31 of each year, and reflects the corresponding estimated change in the fair value of fixed rate debt outstanding at that date under that assumption. Actual changes in the timing and amount of interest rate variations may differ from the above assumptions.

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NEWMONT MINING CORPORATION

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is a process designed by, or under the supervision of, the Company’s principal executive and principal financial officers and effected by the Company’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

The Company’s management assessed the effectiveness of the Company’s internal control over financial reporting at December 31, 2011. In making this assessment, the Company’s management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework. Based upon its assessment, management concluded that, at December 31, 2011, the Company’s internal control over financial reporting was effective.

The effectiveness of the Company’s assessment of internal control over financial reporting at December 31, 2011 has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which appears herein.

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NEWMONT MINING CORPORATION

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of Newmont Mining Corporation:

In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of income, comprehensive income (loss), changes in equity and cash flows present fairly, in all material respects, the financial position of Newmont Mining Corporation and its subsidiaries at December 31, 2011 and 2010, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2011 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting at December 31, 2011, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Company’s management is responsible for these financial statements, for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in Management’s Report on Internal Control Over Financial Reporting appearing under Item 8. Our responsibility is to express opinions on these financial statements and on the Company’s internal control over financial reporting based on our integrated audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ PricewaterhouseCoopers LLP

Denver, Colorado

February 23, 2012

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NEWMONT MINING CORPORATION

STATEMENTS OF CONSOLIDATED INCOME

	Years Ended December 31,
	2011			2010			2009
	(in millions, except per share)
Sales (Note 3)	$	10,358		$	9,540		$	7,705
Costs and expenses
Costs applicable to sales(1) (Note 3)		3,890			3,484			3,008
Amortization (Note 3)		1,036			945			806
Reclamation and remediation (Note 4)		120			65			59
Exploration		350			218			187
Advanced projects, research and development		373			216			135
General and administrative		198			178			159
Write-down of property, plant and mine development (Note 5)		2,084			6			7
Other expense, net (Note 6)		265			261			358
		8,316			5,373			4,719
Other income (expense)
Other income, net (Note 7)		12			109			88
Interest expense, net of capitalized interest of $52, $21 and $111, respectively		(244	)		(279	)		(120	)
		(232	)		(170	)		(32	)
Income before income and mining tax and other items		1,810			3,997			2,954
Income and mining tax expense (Note 10)		(713	)		(856	)		(829	)
Equity income (loss) of affiliates (Note 11)		11			3			(16	)
Income from continuing operations		1,108			3,144			2,109
Loss from discontinued operations (Note 12)		(136	)		(28	)		(16	)
Net income		972			3,116			2,093
Net income attributable to noncontrolling interests (Note 13)		(606	)		(839	)		(796	)
Net income attributable to Newmont stockholders	$	366		$	2,277		$	1,297
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	502		$	2,305		$	1,308
Discontinued operations		(136	)		(28	)		(11	)
	$	366		$	2,277		$	1,297
Income (loss) per common share (Note 14)
Basic:
Continuing operations	$	1.02		$	4.69		$	2.68
Discontinued operations		(0.28	)		(0.06	)		(0.02	)
	$	0.74		$	4.63		$	2.66
Diluted:
Continuing operations	$	1.00		$	4.61		$	2.68
Discontinued operations		(0.27	)		(0.06	)		(0.02	)
	$	0.73		$	4.55		$	2.66
Cash dividends declared per common share	$	1.00		$	0.50		$	0.40

⁽¹⁾  Excludes Amortization and Reclamation and remediation.

The accompanying notes are an integral part of these consolidated financial statements.

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NEWMONT MINING CORPORATION

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS)

	Years Ended December 31,
	2011			2010			2009
	(in millions)
Net income	$	972		$	3,116		$	2,093
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities, net of $41, $(60) and $(82) tax benefit (expense), respectively		(195	)		269			418
Foreign currency translation adjustments		8			98			264
Change in pension and other post-retirement benefits, net of $32, $7 and $(7) tax benefit (expense), respectively
Net change from periodic revaluations		(76	)		(23	)		4
Net amount reclassified to income		16			10			10
Net unrecognized gain (loss) on pension and other post-retirement benefits		(60	)		(13	)		14
Change in fair value of cash flow hedge instruments, net of $168, $(59) and $(82) tax benefit (expense), respectively     Net change from periodic revaluations		(73	)		202			183
Net amount reclassified to income		(136	)		(72	)		3
Net unrecognized gain (loss) on derivatives		(209	)		130			186
Other comprehensive income (loss)		(456	)		484			882
Comprehensive income	$	516		$	3,600		$	2,975
Comprehensive income (loss) attributable to:
Newmont stockholders	$	(90	)	$	2,759		$	2,176
Noncontrolling interests		606			841			799
	$	516		$	3,600		$	2,975

The accompanying notes are an integral part of these consolidated financial statements.

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NEWMONT MINING CORPORATION

STATEMENTS OF CONSOLIDATED CASH FLOWS

	Years Ended December 31,
	2011			2010			2009
	(in millions)
Operating activities:
Net income	$	972		$	3,116		$	2,093
Adjustments:
Amortization		1,036			945			806
Stock based compensation and other non-cash benefits		79			70			57
Reclamation and remediation		101			65			59
Revaluation of contingent consideration		1			2			23
Loss from discontinued operations		136			28			16
Write-down of property, plant and mine development		2,084			6			7
Impairment of marketable securities		180			1			6
Deferred income taxes		(671	)		(380	)		1
Gain on asset sales, net		(81	)		(64	)		(24	)
Other operating adjustments and write-downs		65			145			97
Net change in operating assets and liabilities (Note 27)		(311	)		(754	)		(227	)
Net cash provided from continuing operations		3,591			3,180			2,914
Net cash provided from (used in) discontinued operations (Note 12)		(7	)		(13	)		33
Net cash provided from operations		3,584			3,167			2,947
Investing activities:
Additions to property, plant and mine development		(2,787	)		(1,402	)		(1,769	)
Acquisitions, net		(2,309	)		(4	)		(1,007	)
Proceeds from sale of marketable securities		81			3			17
Purchases of marketable securities		(21	)		(28	)		(5	)
Proceeds from sale of other assets		9			56			18
Other		(40	)		(44	)		(35	)
Net cash used in investing activities		(5,067	)		(1,419	)		(2,781	)
Financing activities:
Proceeds from debt, net		2,011			—			4,299
Repayment of debt		(2,273	)		(430	)		(2,731	)
Proceeds from stock issuance, net		40			60			1,278
Sale of noncontrolling interests		—			229			638
Acquisition of noncontrolling interests		—			(110	)		(287	)
Dividends paid to noncontrolling interests		(117	)		(462	)		(394	)
Dividends paid to common stockholders		(494	)		(246	)		(196	)
Other		(21	)		44			(35	)
Net cash provided from (used in) financing activities of continuing operations		(854	)		(915	)		2,572
Net cash used in financing activities of discontinued operations (Note 12)		—			—			(2	)
Net cash provided from (used in) financing activities		(854	)		(915	)		2,570
Effect of exchange rate changes on cash		41			8			44
Net change in cash and cash equivalents		(2,296	)		841			2,780
Cash and cash equivalents at beginning of period		4,056			3,215			435
Cash and cash equivalents at end of period	$	1,760		$	4,056		$	3,215

The accompanying notes are an integral part of these consolidated financial statements.

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NEWMONT MINING CORPORATION

CONSOLIDATED BALANCE SHEETS

	At December 31, 2011		At December 31, 2010
	(in millions)
ASSETS
Cash and cash equivalents	$	1,760	$	4,056
Trade receivables		300		582
Accounts receivable		320		88
Investments (Note 18)		94		113
Inventories (Note 19)		714		658
Stockpiles and ore on leach pads (Note 20)		671		617
Deferred income tax assets (Note 10)		396		177
Other current assets (Note 21)		1,133		962
Current assets		5,388		7,253
Property, plant and mine development, net (Note 22)		15,881		12,907
Investments (Note 18)		1,472		1,568
Stockpiles and ore on leach pads (Note 20)		2,271		1,757
Deferred income tax assets (Note 10)		1,605		1,437
Other long-term assets (Note 21)		857		741
Total assets	$	27,474	$	25,663
LIABILITIES
Debt (Note 23)	$	689	$	259
Accounts payable		561		427
Employee-related benefits (Note 8)		307		288
Income and mining taxes (Note 10)		250		355
Other current liabilities (Note 24)		2,133		1,418
Current liabilities		3,940		2,747
Debt (Note 23)		3,624		4,182
Reclamation and remediation liabilities (Note 4)		1,169		984
Deferred income tax liabilities (Note 10)		2,147		1,488
Employee-related benefits (Note 8)		459		325
Other long-term liabilities (Note 24)		364		221
Total liabilities		11,703		9,947
Commitments and contingencies (Note 31)
EQUITY
Common stock — $1.60 par value; Authorized — 750 million shares Issued and outstanding —     Common: 490 million and 487 million shares issued, less 273,000 and 271,000         treasury shares, respectively		784		778
Exchangeable: 56 million shares issued, less 51 million and 50 million redeemed shares, respectively
Additional paid-in capital		8,408		8,279
Accumulated other comprehensive income (Note 25)		652		1,108
Retained earnings		3,052		3,180
Newmont stockholders’ equity		12,896		13,345
Noncontrolling interests		2,875		2,371
Total equity		15,771		15,716
Total liabilities and equity	$	27,474	$	25,663

The accompanying notes are an integral part of these consolidated financial statements.

96

NEWMONT MINING CORPORATION

STATEMENTS OF CONSOLIDATED CHANGES IN EQUITY

	Common Stock				Additional Paid-In Capital			Accumulated Other Comprehensive Income (Loss)			Retained Earnings			Noncontrolling Interests			Total Equity
	Shares		Amount
	(in millions)
Balance at December 31, 2008		455	$	709	$	6,831		$	(253	)	$	4		$	1,370		$	8,661
Net income		—		—		—			—			1,297			796			2,093
Other comprehensive income		—		—		—			879			—			3			882
Dividends paid		—		—		(44	)		—			(152	)		(394	)		(590	)
Common stock offering		34		55		1,179			—			—			—			1,234
Convertible debt issuance		—		—		46			—			—			—			46
Sale of subsidiary shares to noncontrolling interests		—		—		63			—			—			467			530
Acquisition of subsidiary shares from noncontrolling interests		—		—		—			—			—			(332	)		(332	)
Stock based awards and related share issuances		2		3		86			—			—			—			89
Shares issued in exchange for exchangeable shares		—		3		(3	)		—			—			—			—
Balance at December 31, 2009		491	$	770	$	8,158		$	626		$	1,149		$	1,910		$	12,613
Net income		—		—		—			—			2,277			839			3,116
Other comprehensive income		—		—		—			482			—			2			484
Dividends paid		—		—		—			—			(246	)		(476	)		(722	)
Sale of subsidiary shares to noncontrolling interests		—		—		16			—			—			183			199
Acquisition of subsidiary shares from noncontrolling interests		—		—		—			—			—			(87	)		(87	)
Stock based awards and related share issuances		2		4		109			—			—			—			113
Shares issued in exchange for exchangeable shares		—		4		(4	)		—			—			—			—
Balance at December 31, 2010		493	$	778	$	8,279		$	1,108		$	3,180		$	2,371		$	15,716
Net income		—		—		—			—			366			606			972
Other comprehensive loss		—		—		—			(456	)		—			—			(456	)
Dividends paid		—		—		—			—			(494	)		(102	)		(596	)
Stock based awards and related share issuances		2		3		132			—			—			—			135
Shares issued in exchange for exchangeable shares		—		3		(3	)		—			—			—			—
Balance at December 31, 2011		495	$	784	$	8,408		$	652		$	3,052		$	2,875		$	15,771

The accompanying notes are an integral part of these consolidated financial statements.

97

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 1    THE COMPANY

Newmont Mining Corporation and its affiliates and subsidiaries (collectively, “Newmont” or the “Company”) predominantly operates in the mining industry, focused on the exploration for and production of gold and copper. The Company has significant assets in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. The cash flow and profitability of the Company’s operations are significantly affected by the market price of gold, and to a lesser extent, copper. The prices of gold and copper are affected by numerous factors beyond the Company’s control.

References to “A$” refers to Australian currency, “C$” to Canadian currency, “NZ$” to New Zealand currency, “IDR” to Indonesian currency and “$” to United States currency.

NOTE 2    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The Company’s Consolidated Financial Statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). The preparation of the Company’s Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production amortization calculations; environmental, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpile and leach pad inventories; estimates of fair value for certain reporting units and asset impairments (including impairments of goodwill, long-lived assets and investments); write-downs of inventory, stockpiles and ore on leach pads to net realizable value; post-employment, post-retirement and other employee benefit liabilities; valuation allowances for deferred tax assets; reserves for contingencies and litigation; and the fair value and accounting treatment of financial instruments including marketable securities and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from these amounts estimated in these financial statements.

Principles of Consolidation

The Consolidated Financial Statements include the accounts of Newmont Mining Corporation and more-than-50%-owned subsidiaries that it controls and entities over which control is achieved through means other than voting rights. The Company also includes its pro-rata share of assets, liabilities and operations for unincorporated joint ventures in which it has an interest. All significant intercompany balances and transactions have been eliminated. The functional currency for the majority of the Company’s operations, including the Australian operations, is the U.S. dollar.

The Company follows FASB Accounting Standards Codification (“ASC”) guidance for identification and reporting of entities over which control is achieved through means other than voting rights. The guidance defines such entities as Variable Interest Entities (“VIEs”). The Company has identified VIEs in connection with our interests in PT Newmont Nusa Tenggara (“PTNNT” or “Batu Hijau”) due to certain funding arrangements and shareholder commitments. The Company has financing arrangements with PT Pukuafu Indah (“PTPI”) and PT Indonesia Masbaga Investama (“PTIMI”), unrelated noncontrolling shareholders of PTNNT, whereby the Company agreed to advance certain funds to them in exchange for (i) a pledge of their combined 20% share of PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, (iii) a commitment from them to support the

98

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

application of our standards to the operation of Batu Hijau and (iv) as of September 16, 2011 in respect of PTPI only, powers of attorney to vote and sell PTNNT shares in support of the pledge, enforceable in an event of default as further security for the funding. The Company has determined itself to be the primary beneficiary of these entities and controls the operations of Batu Hijau, and therefore consolidates PTNNT in the Company’s financial statements.

Cash and Cash Equivalents

Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value. Cash and cash equivalents are invested in United States Treasury securities and money market securities. Restricted cash is excluded from cash and cash equivalents and is included in other current and long-term assets.

Investments

Management determines the appropriate classification of its investments in equity securities at the time of purchase and reevaluates such determinations at each reporting date. Investments in incorporated entities in which the Company’s ownership is greater than 20% and less than 50%, or which the Company does not control through majority ownership or means other than voting rights, are accounted for by the equity method and are included in long-term assets. The Company accounts for its marketable security investments as available for sale securities in accordance with ASC guidance on accounting for certain investments in debt and equity securities. The Company periodically evaluates whether declines in fair values of its investments below the Company’s carrying value are other-than-temporary in accordance with ASC guidance. The Company’s policy is to generally treat a decline in the investment’s quoted market value that has lasted continuously for more than six months as an other-than-temporary decline in value. The Company also monitors its investments for events or changes in circumstances that have occurred that may have a significant adverse effect on the fair value of the investment and evaluates qualitative and quantitative factors regarding the severity and duration of the unrealized loss and the Company’s ability to hold the investment until a forecasted recovery occurs to determine if the decline in value of an investment is other-than-temporary. Declines in fair value below the Company’s carrying value deemed to be other-than-temporary are charged to earnings.

Stockpiles, Ore on Leach Pads and Inventories

As described below, costs that are incurred in or benefit the productive process are accumulated as stockpiles, ore on leach pads and inventories. Stockpiles, ore on leach pads and inventories are carried at the lower of average cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term metals prices, less the estimated costs to complete production and bring the product to sale. Write-downs of stockpiles, ore on leach pads and inventories to net realizable value are reported as a component of Costs applicable to sales. The current portion of stockpiles, ore on leach pads and inventories is determined based on the expected amounts to be processed within the next 12 months. Stockpiles, ore on leach pads and inventories not expected to be processed within the next 12 months are classified as long-term. The major classifications are as follows:

Stockpiles

Stockpiles represent ore that has been extracted from the mine and is available for further processing. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces or pounds (based on assay data) and the estimated

99

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are allocated to stockpiles based on relative values of material stockpiled and processed using current mining costs incurred up to the point of stockpiling the ore, including applicable overhead and amortization relating to mining operations, and removed at each stockpile’s average cost per recoverable unit.

Ore on Leach Pads

The recovery of gold from certain gold oxide ores is achieved through the heap leaching process. Under this method, oxide ore is placed on leach pads where it is treated with a chemical solution, which dissolves the gold contained in the ore. The resulting gold-bearing solution is further processed in a plant where the gold is recovered. Costs are added to ore on leach pads based on current mining costs, including applicable amortization relating to mining operations. Costs are removed from ore on leach pads as ounces are recovered based on the average cost per estimated recoverable ounce of gold on the leach pad.

The estimates of recoverable gold on the leach pads are calculated from the quantities of ore placed on the leach pads (measured tons added to the leach pads), the grade of ore placed on the leach pads (based on assay data) and a recovery percentage (based on ore type). In general, leach pads recover between 50% and 95% of the recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete.

Although the quantities of recoverable gold placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of gold actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored and estimates are refined based on actual results over time. Historically, the Company’s operating results have not been materially impacted by variations between the estimated and actual recoverable quantities of gold on its leach pads. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis.

In-process Inventory

In-process inventories represent materials that are currently in the process of being converted to a saleable product. Conversion processes vary depending on the nature of the ore and the specific processing facility, but include mill in-circuit, flotation, leach and carbon-in-leach in circuits. In-process material is measured based on assays of the material fed into the process and the projected recoveries of the respective plants. In-process inventories are valued at the average cost of the material fed into the process attributable to the source material coming from the mines, stockpiles and/or leach pads plus the in-process conversion costs, including applicable amortization relating to the process facilities incurred to that point in the process.

Precious Metals Inventory

Precious metals inventories include gold doré and/or gold bullion. Precious metals that result from the Company’s mining and processing activities are valued at the average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs.

100

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Concentrate Inventory

Concentrate inventories represent copper and gold concentrate available for shipment. The Company values concentrate inventory at the average cost, including an allocable portion of support costs and amortization. Costs are added and removed to the concentrate inventory based on tons of concentrate and are valued at the lower of average cost or net realizable value.

Materials and Supplies

Materials and supplies are valued at the lower of average cost or net realizable value. Cost includes applicable taxes and freight.

Property, Plant and Mine Development

Facilities and equipment

Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. The facilities and equipment are amortized using the straight-line method at rates sufficient to amortize such costs over the estimated productive lives, which do not exceed the related estimated mine lives, of such facilities based on proven and probable reserves.

Mine Development

Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense. Capitalization of mine development project costs, that meet the definition of an asset, begins once mineralization is classified as proven and probable reserves.

Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting non-reserve mineralization to proven and probable reserves. All other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of Costs applicable to sales.

The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Where multiple open pits exist at a mining complex utilizing common processing facilities, pre-stripping costs are capitalized at each pit. The removal, production, and sale of de minimis saleable materials may occur during development and are recorded as Other income, net of incremental mining and processing costs.

The production phase of an open pit mine commences when saleable minerals, beyond a de minimis amount, are produced. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory. The Company’s definition of a mine and the mine’s production phase may differ from that of other companies in the mining industry resulting in incomparable allocations of stripping costs to deferred mine development and production costs. Other mining companies may expense pre-stripping costs associated with subsequent pits within a mining complex.

101

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Mine development costs are amortized using the units-of-production (“UOP”) method based on estimated recoverable ounces or pounds in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block or area.

Mineral Interests

Mineral interests include acquired interests in production, development and exploration stage properties. The mineral interests are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination.

The value of such assets is primarily driven by the nature and amount of mineralized material believed to be contained in such properties. Production stage mineral interests represent interests in operating properties that contain proven and probable reserves. Development stage mineral interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mineral interests represent interests in properties that are believed to potentially contain mineralized material consisting of (i) mineralized material such as inferred material within pits; measured, indicated and inferred material with insufficient drill spacing to qualify as proven and probable reserves; and inferred material in close proximity to proven and probable reserves; (ii) around-mine exploration potential such as inferred material not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of measured, indicated or inferred material and is comprised mainly of material outside of the immediate mine area; (iv) greenfields exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. The Company’s mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. In certain limited situations, the nature of a mineral right changes from an exploration right to a mining right upon the establishment of proven and probable reserves. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and/or undeveloped mineralized material.

Asset Impairment

The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. An impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets, including goodwill, if any. An impairment loss is measured and recorded based on discounted estimated future cash flows. Future cash flows are estimated based on quantities of recoverable minerals, expected gold and other commodity prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans. Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization that is not part of the measured, indicated or inferred resource base, are included when determining the fair value of mine site reporting units at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold or other commodities that will be obtained after taking into account losses during ore processing and treatment. Estimates of recoverable minerals from such exploration stage mineral interests are risk adjusted based on management’s relative confidence in such materials. In estimating future cash flows, assets are

102

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. The Company’s estimates of future cash flows are based on numerous assumptions and it is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels and costs and capital are each subject to significant risks and uncertainties.

Revenue Recognition

Revenue is recognized, net of treatment and refining charges, from a sale when persuasive evidence of an arrangement exists, the price is determinable, the product has been delivered, the title has been transferred to the customer and collection of the sales price is reasonably assured. Revenues from by-product sales are credited to Costs applicable to sales as a by-product credit.

Concentrate sales are initially recorded based on 100% of the provisional sales prices. Until final settlement occurs, adjustments to the provisional sales prices are made to take into account the mark-to-market changes based on the forward prices for the estimated month of settlement. For changes in metal quantities upon receipt of new information and assay, the provisional sales quantities are adjusted as well. The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations between the date initially recorded and the date of final settlement. If a significant decline in metal prices occurs between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the sales proceeds received based on the provisional invoice.

The Company’s sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward exchange price at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to final settlement.

Income and Mining Taxes

The Company accounts for income taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company’s liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset for the Company, as measured by the statutory tax rates in effect. The Company derives its deferred income tax charge or benefit by recording the change in either the net deferred income tax liability or asset balance for the year. Mining taxes represent state and provincial taxes levied on mining operations and are classified as income taxes; as such taxes are based on a percentage of mining profits. With respect to the earnings that the Company derives from the operations of its consolidated subsidiaries, in those situations where the earnings are indefinitely reinvested, no deferred taxes have been provided on the unremitted earnings (including the excess of the carrying value of the net equity of such entities for financial reporting purposes over the tax basis of such equity) of these consolidated companies.

The Company’s deferred income tax assets include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.

The Company’s operations involve dealing with uncertainties and judgments in the application of complex tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising

103

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

from federal, state, and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due. The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company’s current estimate of the tax liabilities. If the Company’s estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If the estimate of tax liabilities proves to be greater than the ultimate assessment, a tax benefit would result. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income and mining tax expense.

Reclamation and Remediation Costs

Reclamation obligations are recognized when incurred and recorded as liabilities at fair value. The liability is accreted over time through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. The reclamation obligation is based on when spending for an existing disturbance will occur. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site in accordance with ASC guidance for reclamation obligations.

Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the costs expected to be incurred at a site. Such cost estimates include, where applicable, ongoing care, maintenance and monitoring costs. Changes in estimates at inactive mines are reflected in earnings in the period an estimate is revised.

Foreign Currency

The functional currency for the majority of the Company’s operations, including the Australian operations, is the U.S. dollar. All monetary assets and liabilities where the functional currency is the U.S. dollar are translated at current exchange rates and the resulting adjustments are included in Other income, net. All assets and liabilities recorded in functional currencies other than U.S. dollars are translated at current exchange rates and the resulting adjustments are charged or credited directly to Accumulated other comprehensive income in Equity. Revenues and expenses in foreign currencies are translated at the weighted-average exchange rates for the period.

Derivative Instruments

Newmont has forward contracts designated as cash flow hedges in place to hedge against changes in foreign exchanges rates and diesel prices, and forward starting swap contracts to hedge against changes in treasury rates. The fair value of derivative contracts qualifying as cash flow hedges are reflected as assets or liabilities in the balance sheet. To the extent these hedges are effective in offsetting forecasted cash flows from production costs (the “effective portion”), changes in fair value are deferred in Accumulated other comprehensive income. Amounts deferred in Accumulated other comprehensive income are reclassified to income when the hedged transaction has occurred. The ineffective portion of the change in the fair value of the derivative is recorded in Other income, net in each period. Cash transactions related to the Company’s derivative contracts accounted for as hedges are classified in the same category as the item being hedged in the statement of cash flows.

104

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

When derivative contracts qualifying as cash flow hedges are settled, accelerated or restructured before the maturity date of the contracts, the related amount in Accumulated other comprehensive income at the settlement date is deferred and reclassified to earnings, as applicable, when the originally designated hedged transaction impacts earnings.

The fair value of derivative contracts qualifying as fair value hedges are reflected as assets or liabilities in the balance sheet. Changes in fair value are recorded in income in each period, consistent with recording changes to the mark-to-market value of the underlying hedged asset or liability in income. Prior to maturity in May 2011, changes in the mark-to-market value of the effective portion of interest rate swaps utilized by the Company to swap a portion of its fixed rate interest rate risk to floating rate risk were recognized as a component of Interest expense, net.

Newmont assesses the effectiveness of the derivative contracts periodically using either regression analysis or the dollar offset approach, both retrospectively and prospectively, to determine whether the hedging instruments have been highly effective in offsetting changes in the fair value of the hedged items. The Company will also assess periodically whether the hedging instruments are expected to be highly effective in the future. If a hedging instrument is not expected to be highly effective, the Company will stop hedge accounting prospectively. In those instances, the gains or losses remain in Accumulated other comprehensive income until the hedged item affects earnings.

Net Income per Common Share

Basic and diluted income per share are presented for Net income attributable to Newmont stockholders and for Income from continuing operations attributable to Newmont stockholders. Basic income per share is computed by dividing income available to common shareholders by the weighted-average number of outstanding common shares for the period, including the exchangeable shares (see Notes 14 and 23). Diluted income per share reflects the potential dilution that could occur if securities or other contracts that may require the issuance of common shares in the future were converted. Diluted income per share is computed by increasing the weighted-average number of outstanding common shares to include the additional common shares that would be outstanding after conversion and adjusting net income for changes that would result from the conversion. Only those securities or other contracts that result in a reduction in earnings per share are included in the calculation.

Comprehensive Income

In addition to Net income, Comprehensive income (loss) includes all changes in equity during a period, such as adjustments to minimum pension liabilities, foreign currency translation adjustments, the effective portion of changes in fair value of derivative instruments that qualify as cash flow hedges and cumulative unrecognized changes in fair value of marketable securities available-for-sale or other investments, except those resulting from investments by and distributions to owners.

Recently Adopted Accounting Pronouncements

Business Combinations

In December 2010, the ASC guidance for business combinations was updated to clarify existing guidance which requires a public entity to disclose pro forma revenue and earnings of the combined entity as though the business combination(s) that occurred during the current year had occurred as of the beginning of the comparable prior annual period only. The update also expands the supplemental pro forma disclosures required to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. Adoption of the updated guidance, effective for the

105

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Company’s fiscal year beginning January 1, 2011, had no impact on the Company’s consolidated financial position, results of operations or cash flows. Refer to Note 15 for further details regarding the Company’s acquisitions.

Fair Value Accounting

In January 2010, the ASC guidance for fair value measurements and disclosure was updated to require additional disclosures related to transfers in and out of level 1 and 2 fair value measurements. The guidance was amended to clarify the level of disaggregation required for assets and liabilities and the disclosures required for inputs and valuation techniques used to measure the fair value of assets and liabilities that fall in either level 2 or level 3. The updated guidance was effective for the Company’s fiscal year beginning January 1, 2010. The adoption had no impact on the Company’s consolidated financial position, results of operations or cash flows.

Also in January 2010, the ASC guidance for fair value measurements and disclosure was updated to require enhanced detail in the level 3 reconciliation. Adoption of the updated guidance, effective for the Company’s fiscal year beginning January 1, 2011, had no impact on the Company’s consolidated financial position, results of operations or cash flows. Refer to Note 16 for further details regarding the Company’s assets and liabilities measured at fair value.

Variable Interest Entities

In June 2009, the ASC guidance for consolidation accounting was updated to require an entity to perform a qualitative analysis to determine whether the enterprise’s variable interest gives it a controlling financial interest in a VIE. This qualitative analysis identifies the primary beneficiary of a VIE as the entity that has both of the following characteristics: (i) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. The updated guidance also requires ongoing reassessments of the primary beneficiary of a VIE. Adoption of the updated guidance, effective for the Company’s fiscal year beginning January 1, 2010, had no impact on the Company’s consolidated financial position, results of operations or cash flows.

Recently Issued Accounting Pronouncements

Goodwill Impairment

In September 2011, the ASC guidance was issued related to goodwill impairment. Under the updated guidance, an entity will have the option to first assess qualitatively whether it is necessary to perform the current two-step goodwill impairment test. If the Company believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The update does not change how the Company performs the two-step impairment test under current guidance. The update is effective for the Company’s fiscal year beginning January 1, 2012 with early adoption permitted. The Company does not expect the updated guidance to have an impact on the consolidated financial position, results of operations or cash flows.

Comprehensive Income

In June 2011, the ASC guidance was issued related to comprehensive income. Under the updated guidance, an entity will have the option to present the total of comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In addition, the update required certain disclosure requirements when reporting other comprehensive

106

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

income. The update does not change the items reported in other comprehensive income or when an item of other comprehensive income must be reclassified to income. Subsequently, in December 2011, the FASB issued its final standard to defer the new requirement to present components of reclassifications of other comprehensive income on the face of the income statement. Companies will still be required to adopt the other requirements contained in the new standard on comprehensive income. The Company adopted the new guidance and its deferral and opted to present the total of comprehensive income in two separate but consecutive statements effective for its fiscal year beginning January 1, 2011. The early adoption had no impact on the Company’s consolidated financial position, results of operations or cash flows.

Fair Value Accounting

In May 2011, the ASC guidance was issued related to disclosures around fair value accounting. The updated guidance clarifies different components of fair value accounting including the application of the highest and best use and valuation premise concepts, measuring the fair value of an instrument classified in a reporting entity’s shareholders’ equity and disclosing quantitative information about the unobservable inputs used in fair value measurements that are categorized in Level 3 of the fair value hierarchy. The update is effective for the Company’s fiscal year beginning January 1, 2012. The Company does not expect the updated guidance to have a significant impact on the consolidated financial position, results of operations or cash flows.

NOTE 3    SEGMENT INFORMATION

The Company’s reportable segments are based upon the Company’s management structure that is focused on the geographic region for the Company’s operations and include North America, South America, Asia Pacific, Africa and Corporate and Other. The Company’s major operations include Nevada, Yanacocha, Boddington, Batu Hijau, Other Australia/New Zealand and Ahafo. The Company identifies its reportable segments as those consolidated mining operations or functional groups that represent more than 10% of the combined revenue, profit or loss or total assets of all reported operating segments. Consolidated mining operations or functional groups not meeting this threshold are aggregated at the applicable geographic region or corporate level for segment reporting purposes. Earnings from operations do not reflect general corporate expenses, interest (except project-specific interest) or income and mining taxes (except for equity investments). Intercompany revenue and

107

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. The financial information relating to the Company’s segments is as follows:

	Sales		Costs Applicable to Sales		Amortization		Advanced Projects and Exploration		Pre-Tax Income			Total Assets		Capital Expenditures(1)
Year Ended December 31, 2011
Nevada	$	2,700	$	1,039	$	277	$	132	$	1,213		$	6,957	$	559
La Herradura		331		110		20		18		190			329		81
Hope Bay		—		—		14		194		(2,306	)		127		101
Other North America		—		—		—		3		42			65		—
North America		3,031		1,149		311		347		(861	)		7,478		741
Yanacocha		2,003		711		234		39		988			2,712		360
Conga		—		—		—		27		(28	)		1,086		739
Other South America		—		—		—		45		(47	)		31		—
South America		2,003		711		234		111		913			3,829		1,099
Boddington:
Gold		1,056		470		122
Copper		210		118		28
Total Boddington		1,266		588		150		11		506			4,629		217
Batu Hijau:
Gold		524		164		35
Copper		1,052		332		71
Total Batu Hijau		1,576		496		106		8		890			3,582		196
Other Australia/New Zealand		1,613		681		135		51		730			1,257		294
Other Asia Pacific		—		—		3		18		(66	)		630		18
Asia Pacific		4,455		1,765		394		88		2,060			10,098		725
Ahafo		869		265		76		40		465			1,146		116
Akyem		—		—		—		9		(10	)		552		248
Other Africa		—		—		—		7		(11	)		—		—
Africa		869		265		76		56		444			1,698		364
Corporate and Other		—		—		21		121		(746	)		4,371		35
Consolidated	$	10,358	$	3,890	$	1,036	$	723	$	1,810		$	27,474	$	2,964

⁽¹⁾  Accrual basis includes an increase in accrued capital expenditures of $177; consolidated capital expenditures on a cash basis were $2,787.

108

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	Sales		Costs Applicable to Sales		Amortization		Advanced Projects and Exploration		Pre-Tax Income			Total Assets		Capital Expenditures(1)
Year Ended December 31, 2010
Nevada	$	2,111	$	974	$	271	$	85	$	738		$	3,387	$	298
La Herradura		217		73		19		6		118			216		41
Hope Bay		—		—		13		98		(111	)		2,152		115
Other North America		—		—		1		1		(1	)		112		—
North America		2,328		1,047		304		190		744			5,867		454
Yanacocha		1,778		630		162		24		893			2,682		167
Conga		—		—		—		10		(11	)		262		134
Other South America		—		—		1		28		(23	)		30		—
South America		1,778		630		163		62		859			2,974		301
Boddington
Gold		834		400		113
Copper		162		93		25
Total Boddington		996		493		138		6		304			4,323		146
Batu Hijau:
Gold		776		155		42
Copper		1,686		337		90
Total Batu Hijau		2,462		492		132		3		1,736			3,398		67
Other Australia/New Zealand		1,321		585		108		31		575			1,025		176
Other Asia Pacific		—		—		2		19		(14	)		535		17
Asia Pacific		4,779		1,570		380		59		2,601			9,281		406
Ahafo		655		237		78		24		298			1,051		109
Akyem		—		—		—		9		(9	)		295		70
Other Africa		—		—		—		—		(1	)		—		—
Africa		655		237		78		33		288			1,346		179
Corporate and Other		—		—		20		90		(495	)		6,195		34
Consolidated	$	9,540	$	3,484	$	945	$	434	$	3,997		$	25,663	$	1,374

⁽¹⁾  Accrual basis includes a decrease in accrued capital expenditures of $28; consolidated capital expenditures on a cash basis were $1,402.

109

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	Sales		Costs Applicable to Sales		Amortization		Advanced Projects and Exploration		Pre-Tax Income			Total Assets		Capital Expenditures(1)
Year Ended December 31, 2009
Nevada	$	1,943	$	1,019	$	261	$	54	$	583		$	3,236	$	205
La Herradura		113		42		11		3		57			137		54
Hope Bay		—		—		12		66		(77	)		1,862		5
Other North America		—		—		—		2		(7	)		55		—
North America		2,056		1,061		284		125		556			5,290		264
Yanacocha		2,013		642		168		19		1,093			2,445		119
Conga		—		—		—		4		(4	)		27		27
Other South America		—		—		—		23		1			32		—
South America		2,013		642		168		46		1,090			2,504		146
Boddington
Gold		101		45		15
Copper		27		16		4
Total Boddington		128		61		19		32		(59	)		3,975		1,093
Batu Hijau:
Gold		550		118		30
Copper		1,292		307		78
Total Batu Hijau		1,842		425		108		—		1,242			3,129		44
Other Australia/New Zealand		1,138		577		136		21		374			870		122
Other Asia Pacific		—		—		3		12		(50	)		256		3
Asia Pacific		3,108		1,063		266		65		1,507			8,230		1,262
Ahafo		528		242		68		13		178			981		75
Akyem		—		—		—		8		(9	)		206		10
Other Africa		—		—		—		2		2			—		—
Africa		528		242		68		23		171			1,187		85
Corporate and Other		—		—		20		63		(370	)		5,088		16
Consolidated	$	7,705	$	3,008	$	806	$	322	$	2,954		$	22,299	$	1,773

⁽¹⁾  Accrual basis includes an increase in accrued capital expenditures of $4; consolidated capital expenditures on a cash basis were $1,769.

110

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Revenues from export and domestic sales were as follows:

	Years Ended December 31,
	2011		2010		2009
Europe	$	7,392	$	6,209	$	5,573
Japan		750		1,544		833
Korea		712		760		465
Indonesia		531		372		440
Mexico		331		217		113
Philippines		287		128		14
Australia		182		110		222
Other		173		200		45
	$	10,358	$	9,540	$	7,705

As gold can be sold through numerous gold market traders worldwide, the Company is not economically dependent on a limited number of customers for the sale of its product. In 2011, 2010 and 2009, sales to Bank of Nova Scotia were $1,143 (13%), $2,435 (32%) and $2,658 (42%), respectively, of total gold sales. Additionally in 2011, the Company had sales to Royal Bank of Scotland that totaled $2,048 (23%) of total gold sales.

Long-lived assets, excluding deferred tax assets, investments and restricted cash, were as follows:

	At December 31,
	2011		2010
United States	$	6,643	$	3,031
Australia		5,359		4,936
Peru		2,654		1,772
Indonesia		2,421		2,109
Ghana		1,535		1,231
Canada		43		2,088
Other		306		213
	$	18,961	$	15,380

NOTE 4    RECLAMATION AND REMEDIATION

The Company’s mining and exploration activities are subject to various federal and state laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation costs are based principally on legal and regulatory requirements.

At December 31, 2011 and 2010, $1,070 and $904, respectively, were accrued for reclamation obligations relating to mineral properties. In addition, the Company is involved in several matters

111

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

concerning environmental obligations associated with former, primarily historic, mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved. At December 31, 2011 and 2010, $170 and $144, respectively, were accrued for such obligations. These amounts are also included in Reclamation and remediation liabilities.

Included in Other long-term assets at December 31, 2011 and 2010 is $11 and $12, respectively, of restricted cash that is legally restricted for purposes of settling asset retirement obligations related to the Con mine in Yellowknife, NWT, Canada. Included in Investments at December 31, 2011 and 2010 are $11 and $10 of long-term marketable debt securities, respectively, and $4 and $6 long-term marketable equity securities, respectively, which are legally pledged for purposes of settling asset retirement obligations related to the San Jose Reservoir in Yanacocha.

The following is a reconciliation of reclamation and remediation liabilities:

Balance January 1, 2010	$	859
Additions, changes in estimates and other		188
Liabilities settled		(51	)
Accretion expense		52
Balance December 31, 2010		1,048
Additions, changes in estimates and other		176
Liabilities settled		(43	)
Accretion expense		59
Balance December 31, 2011	$	1,240

Additions to the reclamation liability in 2011 of $176 include $139 for currently or recently producing properties due mainly to increased water treatment costs and additional heap leach facilities at Yanacocha, an increase in the tailings area at Boddington, an expansion of the operating footprint at Batu Hijau and $37 for historic mining operations primarily related to additional water management costs.

Additions to the reclamation liability in 2010 of $188 include $186 for currently or recently producing properties due mainly to increased water treatment costs as a result of mine plan changes at Yanacocha, increased demolition costs at Boddington, an increase in the tailings area at Kalgoorlie, increased backfill at Phoenix, increased activity at Hope Bay and $2 for historic mining operations primarily related to additional water management costs.

The current portion of Reclamation and remediation liabilities of $71 and $64 at December 31, 2011 and 2010, respectively, are included in Other current liabilities (see Note 24).

The Company’s reclamation and remediation expenses consisted of:

	Years Ended December 31,
	2011		2010		2009
Reclamation	$	61	$	13	$	13
Accretion — operating		50		44		34
Accretion — non-operating		9		8		12
	$	120	$	65	$	59

112

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Reclamation expense increased in 2011, primarily due to remediation agreed upon for the Midnite Mine site and land purchases around the Mt Leyshon mine.

NOTE 5    WRITE-DOWN OF PROPERTY, PLANT AND MINE DEVELOPMENT

	Years Ended December 31,
	2011		2010		2009
Hope Bay	$	2,080	$	—	$	—
Nevada		2		4		1
Batu Hijau		1		1		4
Yanacocha		1		—		1
Other Australia/New Zealand		—		1		1
	$	2,084	$	6	$	7

Write-down of property, plant and mine development totaled $2,084 in 2011, primarily due to an impairment related to the Hope Bay project that resulted from the Company’s decision to place the project on care and maintenance and to focus on environmental and regulatory compliance spending. The Company placed the Hope Bay project on care and maintenance after evaluating existing development options and economic feasibility for the project compared with other project and development opportunities within the Company’s wider project pipeline.

NOTE 6    OTHER EXPENSE, NET

	Years Ended December 31,
	2011		2010		2009
Regional administration	$	78	$	64	$	55
Community development		67		111		84
Acquisition costs		22		—		67
Indonesian value added tax settlement		21		10		—
Write-down of Hope Bay inventory		17		—		—
Western Australia power plant		15		15		37
Batu Hijau divestiture		7		4		12
World Gold Council dues		7		13		11
Revaluation of contingent consideration		1		2		23
Other		30		42		69
	$	265	$	261	$	358

113

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 7    OTHER INCOME, NET

	Years Ended December 31,
	2011			2010			2009
Gain on sale of investments, net	$	64		$	16		$	8
Income from developing projects, net		42			18			4
Canadian Oil Sands		34			55			26
Refinery income		27			14			14
Gain on asset sales, net		17			48			16
Interest income		11			11			16
Foreign currency exchange losses, net		(4	)		(64	)		(1	)
Loss on ineffective portion of derivative instruments, net		(17	)		(2	)		(6	)
Impairment of marketable securities		(180	)		(1	)		(6	)
Other		18			14			17
	$	12		$	109		$	88

NOTE 8    EMPLOYEE RELATED BENEFITS

	At December 31,
	2011		2010
Current:
Accrued payroll and withholding taxes	$	204	$	189
Peruvian workers’ participation		42		49
Employee pension benefits		5		6
Other post-retirement plans		3		3
Accrued severance		3		2
Other employee-related payables		50		39
	$	307	$	288

	At December 31,
	2011		2010
Long-term:
Employee pension benefits	$	227	$	127
Other post-retirement benefit plans		104		92
Accrued severance		96		73
Peruvian workers’ participation		17		18
Other employee-related payables		15		15
	$	459	$	325

114

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Pension and Other Benefit Plans

The Company provides defined benefit pension plans to eligible employees. Benefits are generally based on years of service and the employee’s average annual compensation. Various international pension plans are based on local laws and requirements. Pension costs are determined annually by independent actuaries and pension contributions to the qualified plans are made based on funding standards established under the Employee Retirement Income Security Act of 1974, as amended.

The Company sponsors retiree health care plans that provide prescription drug benefits to eligible retirees that our plans’ actuaries have determined are actuarially equivalent to Medicare Part D. In 2010, Congress passed certain measures of healthcare reform which changed the tax-free status of Medicare Part D subsidies and eliminated the impact on the post-retirement ABO.

The following tables provide a reconciliation of changes in the plans’ benefit obligations and assets’ fair values for 2011 and 2010:

	Pension Benefits						Other Benefits
	2011			2010			2011			2010
Change in Benefit Obligation:
Benefit obligation at beginning of year	$	681		$	580		$	95		$	95
Service cost		25			21			2			2
Interest cost		39			36			5			6
Actuarial (gain) loss		66			68			7			(6	)
Amendments		—			2			—			—
Foreign currency exchange loss		—			2			—			—
Settlement payments		(14	)		(1	)		—			—
Benefits paid		(25	)		(27	)		(2	)		(2	)
Projected benefit obligation at end of year	$	772		$	681			N/A			N/A
Accumulated Benefit Obligation	$	554		$	543		$	107		$	95
Change in Fair Value of Assets:
Fair value of assets at beginning of year	$	559		$	372		$	—		$	—
Actual return on plan assets		(7	)		53			—			—
Employer contributions		27			161			2			2
Foreign currency exchange gain		—			1			—			—
Settlement payments		(14	)		(1	)		—			—
Benefits paid		(25	)		(27	)		(2	)		(2	)
Fair value of assets at end of year	$	540		$	559		$	—		$	—
Unfunded status, net	$	232		$	122		$	107		$	95

The Company’s qualified pension plans are funded with cash contributions in compliance with Internal Revenue Service (“IRS”) rules and regulations. The Company’s non-qualified and other benefit plans are currently not funded, but exist as general corporate obligations. The information contained in

115

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

the above tables presents the combined funded status of qualified and non-qualified plans. The Company is currently planning to contribute at least $35 to its retirement benefit programs in 2012.

The following table provides the net amounts recognized in the Consolidated Balance Sheets at December 31:

	Pension Benefits						Other Benefits
	2011			2010			2011			2010
Accrued employee benefit liability	$	232		$	122		$	107		$	95
Accumulated other comprehensive income (loss):
Net actuarial gain (loss)	$	(349	)	$	(263	)	$	6		$	12
Prior service credit (cost)		(7	)		(8	)		4			5
		(356	)		(271	)		10			17
Less: Income taxes		125			95			(4	)		(6	)
	$	(231	)	$	(176	)	$	6		$	11

The following table provides components of the net periodic pension and other benefits costs for the years ended December 31:

	Pension Benefit Costs									Other Benefit Costs
	2011			2010			2009			2011			2010			2009
Service cost	$	25		$	21		$	18		$	2		$	2		$	2
Interest cost		39			36			32			5			6			5
Expected return on plan assets		(42	)		(32	)		(29	)		—			—			—
Amortization, net		26			17			16			(1	)		(1	)		(1	)
	$	48		$	42		$	37		$	6		$	7		$	6

The following table provides the components recognized in Other comprehensive income (loss) for the years ended December 31:

	Pension Benefits									Other Benefits
	2011			2010			2009			2011			2010			2009
Net gain (loss)	$	(111	)	$	(41	)	$	7		$	(6	)	$	5		$	(1	)
Amortization, net		26			17			16			(1	)		(1	)		(1	)
Total recognized in Other comprehensive income (loss)	$	(85	)	$	(24	)	$	23		$	(7	)	$	4		$	(2	)
Total recognized in net periodic benefit cost and Other comprehensive income (loss)	$	(133	)	$	(66	)	$	(14	)	$	(13	)	$	(3	)	$	(7	)

The expected recognition of amounts in Accumulated other comprehensive income is $25 and $1 for net actuarial loss and prior service cost for pension benefits in 2012, respectively, and $nil and $1 for net actuarial gain and prior service credit for other benefits in 2012, respectively.

116

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Significant assumptions were as follows:

	Pension Benefits						Other Benefits
	At December 31,						At December 31,
	2011			2010			2011			2010
Weighted-average assumptions used in measuring the Company’s benefit obligation:
Discount rate		5.35	%		5.75	%		5.35	%		5.75	%
Rate of compensation increase		5.00	%		5.00	%		5.00	%		5.00	%

	Pension Benefits									Other Benefits
	Years Ended December 31,									Years Ended December 31,
	2011			2010			2009			2011			2010			2009
Weighted-average assumptions used in measuring the net periodic pension benefit cost:
Discount long-term rate		5.75	%		6.10	%		6.05	%		5.75	%		6.10	%		6.05	%
Expected return on plan assets		8.00	%		8.00	%		8.00	%		N/A			N/A			N/A
Rate of compensation increase		5.00	%		5.00	%		5.00	%		5.00	%		5.00	%		5.00	%

Yield curves matching our benefit obligations were derived using a model based on high quality corporate bond data from Bloomberg. The model develops a discount rate by selecting a portfolio of high quality corporate bonds whose projected cash flows match the projected benefit payments of the plan. The resulting curves were used to identify a discount rate for the Company of 5.35% and 5.75% at December 31, 2011 and 2010, respectively, based on the timing of future benefit payments. The decision to use 8% as the expected long-term return on plan assets for the three years ended December 2011 was made based on an analysis of the actual plan asset returns over multiple time horizons and other comparable U.S. corporations. At December 31, 2011, Newmont decreased the expected long term return on plan assets to 7.75% in estimating its benefit obligation, which will be used in determining future net periodic benefit cost. The decrease in the rate is a result of considering the most recent capital market forecasts and the plans’ current allocation as well as the actual return on plan assets underperforming as compared to the expected return on assets in the last 5 years. The average actual return on plan assets during the 23 years ended December 31, 2011 approximated 8%.

The pension plans employ several independent investment firms which invest the assets of the plans in certain approved funds that correspond to specific asset classes with associated target allocations. The goal of the pension fund investment program is to achieve prudent actuarial funding ratios while maintaining acceptable risk levels. The investment performance of the plans and that of the individual investment firms is measured against recognized market indices. The performance of the pension funds are monitored by an investment committee comprised of members of the Company’s management, which is advised by an independent investment consultant. With the exception of global capital market economic risks, the Company has identified no significant portfolio risks associated to

117

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

asset classes. The following is a summary of the target asset allocations for 2011 and the actual asset allocation at December 31, 2011.

				Actual at December 31, 2011
Asset Allocation	Target
U.S. equity investments		33	%		35	%
International equity investments		24	%		24	%
Fixed income investments		35	%		33	%
Other		8	%		8	%

The following table sets forth the Company’s pension plan assets measured at fair value by level within the fair value hierarchy. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	Fair Value at December 31, 2011
	Level 1		Level 2		Level 3		Total
Plan Assets:
Cash and cash equivalents	$	1	$	—	$	—	$	1
Commingled funds		—		539		—		539
	$	1	$	539	$	—	$	540

	Fair Value at December 31, 2010
	Level 1		Level 2		Level 3		Total
Plan Assets:
Cash and cash equivalents	$	2	$	—	$	—	$	2
Commingled funds		—		557		—		557
	$	2	$	557	$	—	$	559

The pension plans’ cash and cash equivalents are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash equivalent instruments that are valued based on quoted market prices in active markets are primarily money market securities and U.S. Treasury securities.

The pension plans’ commingled fund investments are classified within Level 2. The funds are managed by several fund managers and are valued at the net asset value per share for each fund. Although the majority of underlying assets in the funds consist of actively traded equity securities and bonds, the unit of account is considered to be at the fund level, and therefore, the investments are classified as Level 2. At December 31, 2011, the underlying assets of the commingled funds consist of U.S. equity investments (35%), international equity investments (24%), fixed income investments (33%), and other investments (8%).

The assumed health care cost trend rate to measure the expected cost of benefits was 8.00% for 2012, 7.50% for 2013, 7.00% for 2014, 6.50% for 2015, 6.00% for 2016 and approximately 5.00% for each year thereafter. Assumed health care cost trend rates have a significant effect on amounts

118

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects:

	One-percentage-point Increase		One-percentage-point Decrease
Effect on total of service and interest cost components of net periodic post-retirement health care benefit cost	$	1	$	(1	)
Effect on the health care component of the accumulated post-retirement benefit obligation	$	17	$	(14	)

Cash Flows

Benefit payments expected to be paid are as follows: $25 in 2012, $27 in 2013, $33 in 2014, $40 in 2015, $37 in 2016, and $268 in total over the five years from 2017 through 2021. Benefit payments made to other benefit plan participants are expected to be as follows: $4 in 2012, $4 in 2013, $4 in 2014, $5 in 2015, $5 in 2016, and $32 in total over the five years from 2017 through 2021.

Savings Plans

The Company has two qualified defined contribution savings plans, one that covers salaried and non-union hourly employees and one that covers substantially all hourly union employees. In addition, the Company has one non-qualified supplemental savings plan for salaried employees whose benefits under the qualified plan are limited by federal regulations. When an employee meets eligibility requirements, the Company matches 100% of employee contributions of up to 6% of base salary for the salaried and hourly union plans. The Company makes a contribution between 5.0% and 7.5% (based on continuous years of service) to each non-union hourly employee’s retirement contribution account at its sole discretion. Matching contributions are made with Newmont stock; however, no holding restrictions are placed on such contributions, which totaled $17 in 2011, $15 in 2010, and $15 in 2009.

NOTE 9    STOCK BASED COMPENSATION

The Company has stock incentive plans for executives and eligible employees. Stock incentive awards include options to purchase shares of stock with exercise prices not less than fair market value of the underlying stock at the date of grant, restricted stock units, financial performance stock bonuses and performance leveraged stock units. At December 31, 2011, 8,809,298 shares were available for future stock incentive plan awards.

Employee Stock Options

Stock options granted under the Company’s stock incentive plans vest over periods of three years or more and are exercisable over a period of time not to exceed 10 years from the grant date. The value of each option award is estimated at the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of subjective assumptions, including the expected term of the option award and stock price volatility. The expected term of options granted is derived from historical data on employee exercise and post-vesting employment termination experience. Expected volatility is based on the historical volatility of our stock at the grant date. These estimates involve inherent uncertainties and the application of management’s judgment. In addition, we are required to estimate the expected forfeiture rate and only recognize expense for those options expected to vest. As a result, if other assumptions had been used, our recorded stock based

119

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

compensation expense would have been different from that reported. The Black-Scholes option pricing model used the following weighted-average assumptions:

	2011			2010			2009			2008			2007
Weighted-average risk-free interest rate		2.0	%		2.5	%		2.0	%		3.1	%		4.6	%
Dividend yield		1.4	%		0.7	%		1.0	%		1.0	%		1.0	%
Expected life in years		6			5			5			5			5
Volatility		37	%		38	%		36	%		30	%		32	%

The following table summarizes annual activity for all stock options for each of the three years ended December 31:

	2011					2010					2009
	Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted- Average Exercise Price
Outstanding at beginning of year		5,414,205		$	45.36		6,142,073		$	42.65		6,463,004		$	42.17
Granted		1,276,250		$	58.72		918,343		$	55.68		1,157,825		$	39.99
Exercised		(928,037	)	$	43.67		(1,494,686	)	$	40.38		(1,204,836	)	$	36.24
Forfeited and expired		(281,077	)	$	56.56		(151,525	)	$	51.02		(273,920	)	$	50.20
Outstanding at end of year		5,481,341		$	48.40		5,414,205		$	45.36		6,142,073		$	42.65
Options exercisable at year-end		3,166,178		$	46.22		3,211,115		$	45.50		3,880,866		$	44.39
Weighted-average fair value per share of options granted during the year	$	18.90				$	20.01				$	12.88

The following table summarizes information about stock options outstanding and exercisable at December 31, 2011:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted- Average Remaining Contractual Life (in years)		Weighted- Average Exercise Price		Number Exercisable		Weighted- Average Exercise Price
$20 to $30		360,723		5.9	$	26.91		60,723	$	26.89
$30 to $40		947,202		6.6	$	39.60		635,585	$	39.43
$40 to $50		1,730,135		4.4	$	44.76		1,729,185	$	44.76
$50 to $60		2,417,490		8.0	$	57.46		740,685	$	57.05
$60+		25,791		9.9	$	67.41		—	$	—
		5,481,341		6.5	$	48.40		3,166,178	$	46.22

At December 31, 2011, there was $26 of unrecognized compensation cost related to 2,315,163 unvested stock options. This cost is expected to be recognized over a weighted-average period of

120

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

approximately 3 years. The total intrinsic value of options exercised in 2011, 2010 and 2009 was $18, $29 and $16, respectively. At December 31, 2011, the aggregate intrinsic value of outstanding stock options was $64 and the aggregate intrinsic value of exercisable options was $44.

The following stock options vested in each of the three years ended December 31:

	2011		2010		2009
Stock options vested		950,119		922,463		795,566
Weighted-average exercise price	$	46.73	$	42.16	$	46.86

Other Stock Based Compensation

The Company grants restricted stock units to executives and eligible employees upon achievement of certain financial and operating results. Restricted stock units vest over periods of three years or more. Prior to vesting, holders of restricted stock units do not have the right to vote the underlying shares; however, executives accrue dividend equivalents on their restricted stock units, which are paid at the time the restricted stock units vest. The restricted stock units are subject to forfeiture risk and other restrictions. Upon vesting, the employee is entitled to receive one share of the Company’s common stock for each restricted stock unit. In 2011, 2010 and 2009, the Company granted 586,944, 483,408 and 450,195 restricted stock units, respectively, at a weighted-average fair market value of $57, $52 and $42, respectively, per underlying share of the Company’s common stock. At December 31, 2011, 537,282, 250,729 and 99,170 shares remain unvested for the 2011, 2010 and 2009 grants, respectively.

The Company grants financial performance stock bonuses to eligible executives upon achievement of certain financial and operating results, based on a targeted number of shares at the beginning of each performance period. At the end of the performance period, one third of the bonus is paid in common stock and two-thirds of the bonus is paid in restricted stock units that vest in equal annual increments at the second and third anniversaries of the start of the performance period. In 2011 and 2010, the Company granted 42,932 and 64,646 common shares, respectively, and 85,632 and 129,302 restricted stock units, respectively, included in the restricted stock unit grants above at a fair market value of $55 and $50 per underlying share of the Company’s common stock, respectively, under the financial performance stock bonus plan.

The Company grants performance leveraged stock units (“PSUs”) to eligible executives, based upon certain measures of shareholder return. In 2011 and 2010, the Company granted 102,313 and 204,732, respectively, PSUs at a weighted-average fair market value of $76 and $69, respectively. The actual number of PSUs that vest are determined at the end of a three year performance period (except two initial awards granted in 2010 that were based on a one and two year performance period). At December 31, 2011, 102,313 and 145,601 remained unvested for the 2011 and 2010 PSU grants.

Prior to 2009, the Company granted restricted stock awards to executives and deferred stock awards to eligible employees upon achievement of certain financial and operating results. Shares of restricted stock and deferred stock vest over periods of three years or more from the grant date and are subject to certain restrictions related to ownership and transferability prior to vesting. In 2008, 218,697 shares of restricted stock, were granted at a weighted-average fair market value of $39 per underlying share of the Company’s common stock. At December 31, 2011, 100,000 shares remained unvested for the 2008 restricted stock awards. In 2008, the Company granted 394,095 shares of deferred stock, at a weighted-average fair market value of $44 per underlying share of the Company’s

121

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

common stock. At December 31, 2011, no awards shares remained unvested for the 2008 deferred stock awards.

The total intrinsic value of other stock based compensation awards that vested in 2011, 2010 and 2009 was $33, $28 and $19, respectively. At December 31, 2011, there was $35 of unrecognized compensation costs related to the unvested other stock based compensation awards. This cost is expected to be recognized over a weighted-average period of approximately 2 years.

The Company recognized stock based compensation as follows:

	Years Ended December 31,
	2011		2010		2009
Stock options	$	19	$	16	$	14
Restricted stock units		27		19		9
Performance leveraged stock units		7		7		—
Restricted stock		1		2		4
Deferred stock		4		8		13
	$	58	$	52	$	40

NOTE 10    INCOME AND MINING TAXES

The Company’s Income and mining tax expense consisted of:

	Years Ended December 31,
	2011			2010			2009
Current:
United States	$	(346	)	$	(214	)	$	(46	)
Foreign		(1,038	)		(1,022	)		(782	)
		(1,384	)		(1,236	)		(828	)
Deferred:
United States		185			518			42
Foreign		486			(138	)		(43	)
		671			380			(1	)
	$	(713	)	$	(856	)	$	(829	)

The Company’s Income before income and mining tax and other items consisted of:

	Years Ended December 31,
	2011		2010		2009
United States	$	878	$	737	$	291
Foreign		932		3,260		2,663
	$	1,810	$	3,997	$	2,954

122

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

The Company’s income and mining tax expense differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:

	Years Ended December 31,
	2011			2010			2009
Income before income and mining tax and other items	$	1,810		$	3,997		$	2,954
United States statutory corporate income tax rate		35	%		35	%		35	%
Income tax expense computed at United States statutory corporate income tax rate		(634	)		(1,399	)		(1,034	)
Reconciling items:
Tax benefit generated on change in form of a non-U.S. subsidiary		65			440			—
Percentage depletion		172			151			127
Change in valuation allowance on deferred tax assets		(263	)		18			32
Mining taxes (net of federal benefit)		(42	)		(33	)		(27	)
Other		(11	)		(33	)		73
Income and mining tax expense	$	(713	)	$	(856	)	$	(829	)

Factors that Significantly Impact Effective Tax Rate

The Company converted certain non-U.S. entities to U.S. entities for U.S. income tax purposes. As a result of the elections, the subsidiaries are treated as flow-through entities for U.S. federal income tax purposes. The restructurings in 2011 and 2010 resulted in the recording of a deferred tax asset, calculated as the difference between fair market valuations of the subsidiaries compared to the underlying financial statement basis in the assets.

Percentage depletion allowances (tax deductions for depletion that may exceed our tax basis in our mineral reserves) are available to us under the income tax laws of the United States for operations conducted in the United States or through branches and partnerships owned by U.S. subsidiaries included in our consolidated United States income tax return. The deductions are highly sensitive to the price of gold and other minerals produced by the Company.

The Company reviews the measurement of its deferred tax assets at each balance sheet date. All available evidence, both positive and negative, is considered in determining whether, based on the weight of the evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized. The Company increased the valuation allowance related to deferred tax assets by $542 during 2011. The impairments of the Hope Bay project and specific marketable equity securities increased the valuation allowance $223 and $33, respectively. In addition, $274 of the increase in valuation allowance is a result of the tax re-consolidation of the Australian group. This valuation allowance relates to the Australian tax step-up in basis allocated to capital assets. During 2011, $32 of valuation allowance on foreign tax credits was released and recorded directly to equity. The remaining $10 valuation allowance on foreign tax credits, when released will also be recorded directly to equity. The valuation allowance remaining at the end of 2011 primarily is attributable to non-U.S. subsidiaries tax loss carryforwards and capital assets.

In the fourth quarter of 2010, the Company reclassified certain income based state and provincial taxes from Costs applicable to sales to Income and mining tax expense. Tax expense increased due to the inclusion of such taxes as Income and mining tax expense. The reclassification resulted in $42,

123

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

$33 and $27 (net of federal benefit) increase to income and mining taxes for 2011, 2010 and 2009, respectively.

Components of the Company’s deferred income tax assets (liabilities) are as follows:

	At December 31,
	2011			2010
Deferred income tax assets:
Property, plant and mine development	$	689		$	158
Reclamation and remediation		226			193
Net operating losses, capital losses and tax credits		1,054			1,275
Investment in partnerships		203			563
Employee-related benefits		15			49
Derivative instruments and unrealized loss on investments		308			60
Other		8			44
		2,503			2,342
Valuation allowances		(977	)		(435	)
		1,526			1,907
Deferred income tax liabilities:
Property, plant and mine development		(1,362	)		(1,370	)
Net undistributed earnings of subsidiaries		(198	)		(237	)
Derivative instruments and unrealized gain on investments		(69	)		(160	)
Other		(93	)		(68	)
		(1,722	)		(1,835	)
Net deferred income tax assets (liabilities)	$	(196	)	$	72

Net deferred income tax assets and liabilities consist of:

	At December 31,
	2011			2010
Current deferred income tax assets	$	396		$	177
Long-term deferred income tax assets		1,605			1,437
Current deferred income tax liabilities		(50	)		(54	)
Long-term deferred income tax liabilities		(2,147	)		(1,488	)
	$	(196	)	$	72

124

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Company’s Unrecognized Tax Benefits

At December 31, 2011, 2010 and 2009, the Company had $336, $116 and $130 of total gross unrecognized tax benefits, respectively. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:

	2011			2010			2009
Total amount of gross unrecognized tax benefits at beginning of year	$	116		$	130		$	181
Additions for tax positions of prior years		160			3			(21	)
Additions for tax positions of current year		64			—			3
Reductions due to settlements with taxing authorities		—			(9	)		(27	)
Reductions due to lapse of statute of limitations		(4	)		(8	)		(6	)
Total amount of gross unrecognized tax benefits at end of year	$	336		$	116		$	130

At December 31, 2011, 2010 and 2009, $137, $45 and $63, respectively, represent the amount of unrecognized tax benefits that, if recognized, would impact the Company’s effective income tax rate.

The Company operates in numerous countries around the world and accordingly it is subject to, and pays annual income taxes under, the various income tax regimes in the countries in which it operates. Some of these tax regimes are defined by contractual agreements with the local government, and others are defined by the general corporate income tax laws of the country. The Company has historically filed, and continues to file, all required income tax returns and paid the taxes reasonably determined to be due. The tax rules and regulations in many countries are highly complex and subject to interpretation. From time to time, the Company is subject to a review of its historic income tax filings and in connection with such reviews, disputes can arise with the taxing authorities over the interpretation or application of certain rules to the Company’s business conducted within the country involved.

On April 27, 2009, the United States Tax Court issued a decision in favor of Santa Fe, with respect to the $65 million Homestake break-up fee deducted by Santa Fe in tax year 1997. Following procedural rules, the Internal Revenue Service was given 90 days from the date the decision was entered in which to file an appeal. The entry of decision was made on July 16, 2009. The Internal Revenue Service did not file an appeal, and as a result, as of October 15, 2009 the decision stands. The result of this decision resulted in overpayments for each of the tax years 1994 through 1997. The Company has adjusted the unrecognized tax benefits accordingly.

In 2010, PTNNT, the Company’s partially owned subsidiary in Indonesia, received a final tax assessment from the Indonesian Tax Office. Although required to pay $132 (of which, $119 related to corporate income tax matters) of tax and penalties upon receipt of the tax assessment, PTNNT intends to vigorously defend its positions through all processes available to it. PTNNT believes it is more likely than not that they will prevail based on prior experience and therefore recorded a corresponding receivable in the third quarter of 2010.

During the year, the U.S. Internal Revenue Service issued a Technical Advice Memorandum (“TAM”) to the Company regarding the U.S. income tax treatment of the Price Capped Forward Sales Contracts settled in cash in 2007. The TAM provides guidance which is unfavorable to the Company. The Company intends to vigorously defend its positions through all processes available to it and believes it should prevail.

125

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. Federal, state and local, and non-U.S. income tax examinations by tax authorities for years before 2005. As a result of (i) statute of limitations that will begin to expire within the next 12 months in various jurisdictions, and (ii) possible settlements of audit-related issues with taxing authorities in various jurisdictions with respect to which none of the issues are individually significant, the Company believes that it is reasonably possible that the total amount of its net unrecognized income tax benefits will decrease between $25 to $30 in the next 12 months.

The Company’s continuing practice is to recognize interest and/or penalties related to unrecognized tax benefits as part of its income and mining tax expense. At December 31, 2011 and 2010, the total amount of accrued income-tax-related interest and penalties included in the Consolidated Balance Sheets was $11 and $10, respectively. During 2011, the Company recorded through the Statements of Consolidated Income an additional $1 of interest and penalties. During 2010, the Company released through the Statements of Consolidated Income an additional $4 of interest and penalties. During 2009, the Company accrued through the Statements of Consolidated Income an additional $9 of interest and penalties.

Tax Loss Carryforwards, Foreign Tax Credits, and AMT Credits

At December 31, 2011 and 2010, the Company had (i) $1,051 and $1,220 of net operating loss carry forwards, respectively; and (ii) $259 and $168 of tax credit carry forwards, respectively. At December 31, 2011 and 2010, $315 and $857, respectively, of net operating loss carry forwards are attributable to operations in Australia, Ghana and France for which current tax law provides no expiration period. The remaining net operating loss carryforwards expire at various dates through 2030. Valuation allowances have been recorded on net operating loss carryforwards where the Company believes based on the available evidence it is more likely than not that the net operating losses will not be realized.

Tax credit carry forwards for 2011 and 2010 of $155 and $53 consist of foreign tax credits available in the United States; substantially all such credits not utilized will expire at the end of 2018. Other credit carry forwards at the end of 2011 and 2010 in the amounts of $104 and $115, respectively, represent alternative minimum tax credits attributable to the Company’s U.S. operations for which the current tax law provides no period of expiration.

Differences in tax rates and other foreign income tax law variations make the ability to fully utilize all available foreign income tax credits on a year-by-year basis highly dependent on the price of the gold and copper produced by the Company and the costs of production, since lower prices or higher costs can result in having insufficient sources of taxable income in the United States to utilize all available foreign tax credits. Such credits have limited carry back and carry forward periods and can only be used to reduce the United States income tax imposed on foreign earnings included in the annual United States consolidated income tax return.

Other

Newmont intends to indefinitely reinvest earnings from certain foreign operations. Accordingly, U.S. and non-U.S. income and withholding taxes for which deferred taxes might otherwise be required, have not been provided on a cumulative amount of temporary differences (including, for this purpose, any difference between the tax basis in the stock of a consolidated subsidiary and the amount of the subsidiary’s net equity determined for financial reporting purposes) related to investments in foreign subsidiaries of approximately $8 and $7 at December 31, 2011 and 2010, respectively.

126

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 11    EQUITY INCOME (LOSS) OF AFFILIATES

	Years Ended December 31,
	2011			2010			2009
Minera La Zanja S.R.L.	$	52		$	10		$	(4	)
Euronimba Ltd.		(41	)		(10	)		(17	)
AGR Matthey Joint Venture		—			3			5
	$	11		$	3		$	(16	)

Minera La Zanja S.R.L.

Newmont holds a 46.94% interest in Minera La Zanja, S.R.L. (“La Zanja”), a gold project near the city of Cajamarca, Peru. The remaining interest is held by Compañia de Minas Buenaventura, S.A.A. (“Buenaventura”). The mine commenced operations in September 2010 and is operated by Buenaventura. Newmont received dividends of $31 during 2011 from its interest in La Zanja.

Euronimba Ltd.

Newmont holds a 43.50% interest in Euronimba Ltd. (“Euronimba”), with the remaining interests held by BHP Billiton (43.50%) and Areva (13%). Euronimba owns 95% of the Nimba iron ore project located in the Republic of Guinea which is in the early stages of development.

AGR Matthey Joint Venture

The AGR Matthey Joint Venture (“AGR”), a gold refinery, in which Newmont held a 40% interest, was dissolved on March 30, 2010. Newmont received consideration of $14 from the dissolution and recorded a gain of $6 during 2010. Newmont received dividends of $7 and $2 during 2010 and 2009, respectively, from its interests in AGR. See also Note 26 for details of Newmont’s transactions with AGR.

NOTE 12    DISCONTINUED OPERATIONS

Discontinued operations include Holloway Mining Company, which owned the Holt-McDermott property (“Holt property”) that was sold to St. Andrew Goldfields Ltd. (“St. Andrew”) in 2006. In 2009, the Superior Court issued a decision finding Newmont Canada Corporation (“Newmont Canada”) liable for a sliding scale royalty on production from the Holt property, which Newmont Canada appealed. In 2010, the Company recognized a $28 charge, net of tax benefits of $12, related to these legal claims. In 2011, the Ontario Court of Appeal upheld the Superior Court ruling resulting in an additional $136 charge, net of tax benefits of $7.

In July 2009, the Company sold its interest in Kori Kollo in Bolivia. As part of the transaction, a reclamation trust fund was established with the proceeds to be made available exclusively to pay for closure and reclamation costs when operations eventually cease. The Company recognized a $16 charge in 2009, net of tax benefits of $27, related to the sale.

Newmont has accounted for these dispositions in accordance with accounting guidance for the impairment or disposal of long-lived assets. The Company has reclassified the income statement results from the historical presentation to Loss from discontinued operations in the Statements of Consolidated Income for all periods presented. The Statements of Consolidated Cash Flows have been reclassified for discontinued operations for all periods presented.

127

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

The following table details selected financial information included in the Loss from discontinued operations in the Statements of Consolidated Income:

		000000000000			000000000000			000000000000
	Years Ended December 31,
	2011			2010			2009
Sales	$	—		$	—		$	32
Income from operations	$	—		$	—		$	1
Non-operating loss		(143	)		(40	)		(44	)
Pre-tax loss		(143	)		(40	)		(43	)
Income tax benefit		7			12			27
Loss from discontinued operations	$	(136	)	$	(28	)	$	(16	)

The following table details selected financial information included in Net cash provided from (used in) discontinued operations and financing activities of discontinued operations:

		000000000000			000000000000			000000000000
	Years Ended December 31,
	2011			2010			2009
Net cash provided from (used in) discontinued operations:
Loss from discontinued operations	$	(136	)	$	(28	)	$	(16	)
Amortization		—			—			3
Deferred income taxes		(7	)		(12	)		(28	)
Impairment of assets held for sale		—			—			44
Other operating adjustments and write-downs		—			—			7
Increase in net operating liabilities		136			27			23
	$	(7	)	$	(13	)	$	33
Net cash used in financing activities of discontinued operations:
Repayment of debt	$	—		$	—		$	(2	)
	$	—		$	—		$	(2	)

NOTE 13    NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

		000000000000			000000000000			000000000000
	Years Ended December 31,
	2011			2010			2009
Yanacocha	$	326		$	292		$	354
Batu Hijau		287			549			445
Other		(7	)		(2	)		(3	)
	$	606		$	839		$	796

Newmont has a 51.35% ownership interest in Yanacocha, with the remaining interests held by Compañia de Minas Buenaventura, S.A.A. (43.65%) and the International Finance Corporation (5%).

In June 2010, PTPI completed the sale of an approximate 2.2% interest in PTNNT to PTIMI. To enable the transaction to proceed, the Company released its rights to the dividends payable on this 2.2% interest and released the security interest in the associated shares. The Company further agreed

128

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

to advance certain funds to PTIMI to enable it to purchase the interest in exchange for (i) a pledge of their 2.2% share of PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, and (iii) a commitment from them to support the application of Newmont standards to the operation of the Batu Hijau mine. The funds that the Company advanced to PTIMI and which it paid to PTPI for the shares were used by PTPI to reduce its outstanding loan balance with the Company. Upon completion of this transaction, PTPI requested and was allowed to borrow additional funds under the Company’s agreement with PTPI. The Company’s economic interest in PTPI’s and PTIMI’s combined 20% interest in PTNNT remains at 17% and did not change as a result of these transactions.

In March 2010, the Company (through Nusa Tenggara Partnership B.V. (“NTPBV”)) completed the sale and transfer of shares for a 7% interest in PTNNT to PT Multi Daerah Bersaing (“PTMDB”) in compliance with divestiture obligations under the Contract of Work, reducing NTPBV’s ownership interest to 56% from 63%. In 2009, the Company (through NTPBV) completed the sale and transfer of shares for a 17% interest in PTNNT to PTMDB in compliance with divestiture obligations under the Contract of Work, reducing NTPBV’s ownership interest to 63% from 80%. The 2010 and 2009 share transfers resulted in gains of approximately $16 (after tax of $33) and $63 (after tax of $115), respectively, that were recorded as Additional paid-in capital. For information on the Batu Hijau Contract of Work and divestiture requirements, see the discussion in Note 31 to the Consolidated Financial Statements.

In December 2009, the Company entered into a transaction with PTPI, whereby the Company agreed to advance certain funds to PTPI in exchange for a pledge of the noncontrolling shareholder’s 20% stake in PTNNT; an assignment of dividends on the shares, net of withholding tax; a commitment from PTPI to support the application of Newmont’s standards to the operation of the Batu Hijau mine; and as of September 16, 2011 powers of attorney to vote and sell PTNNT shares in support of the pledge. Based on the transaction with PTPI, the Company recognized an additional 17% effective economic interest in PTNNT.

At December 31, 2011, Newmont had a 48.50% effective economic interest in PTNNT. Based on ASC guidance for variable interest entities, Newmont continues to consolidate PTNNT in its Consolidated Financial Statements.

NOTE 14    NEWMONT EQUITY AND INCOME PER SHARE

Newmont Common Stock

In September 2009, Newmont filed a shelf registration statement on Form S-3 under which it can issue an indeterminate number or amount of common stock, preferred stock, debt securities, guarantees of debt securities and warrants from time to time at indeterminate prices. It also included the resale of an indeterminate amount of common stock, preferred stock and debt securities from time to time upon exercise of warrants or conversion of convertible securities.

Treasury Stock

Treasury stock is acquired by the Company when certain restricted stock awards vest or are forfeited. At vesting, a participant has a tax liability and, pursuant to the participant’s award agreement, may elect withholding of restricted stock to satisfy tax withholding obligations. The withheld or forfeited stock is accounted for as treasury stock and carried at the par value of the related common stock.

129

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Exchangeable Shares

In connection with the acquisition of Franco-Nevada Corporation (“Franco”) in February 2002, certain holders of Franco common stock received 0.8 of an exchangeable share of Newmont Mining Corporation of Canada Limited (formerly Franco) for each share of common stock held. These exchangeable shares are convertible, at the option of the holder, into shares of Newmont common stock on a one-for-one basis, and entitle holders to dividends and other rights economically equivalent to holders of Newmont common stock. On December 15, 2011, as a result of a plan of arrangement, holders of exchangeable shares received, at their election, for each existing exchangeable share, one new exchangeable share of Newmont Mining Corporation of Canada Limited or one share of Newmont common stock. In connection with the plan of arrangement, 1.6 million shares were converted from exchangeable shares to Newmont common stock and 4.9 million new exchangeable shares were issued. At December 31, 2011 and 2010, the value of the remaining exchangeable shares was included in Additional paid-in capital and outstanding shares.

Net Income per Common Share

Basic income per common share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted income per common share is computed similarly to basic income per common share except that the weighted average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares had been issued.

	Years Ended December 31,
	2011			2010			2009
Net income attributable to Newmont stockholders:
Continuing operations	$	502		$	2,305		$	1,308
Discontinued operations		(136	)		(28	)		(11	)
	$	366		$	2,277		$	1,297
Weighted average common shares (millions):
Basic		494			492			487
Effect of employee stock based awards		2			2			—
Effect of convertible notes		8			6			—
Diluted		504			500			487
Net income attributable to Newmont stockholders per common share
Basic:
Continuing operations	$	1.02		$	4.69		$	2.68
Discontinued operations		(0.28	)		(0.06	)		(0.02	)
	$	0.74		$	4.63		$	2.66
Diluted:
Continuing operations	$	1.00		$	4.61		$	2.68
Discontinued operations		(0.27	)		(0.06	)		(0.02	)
	$	0.73		$	4.55		$	2.66

130

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Options to purchase 2 million, 2 million and 4 million shares of common stock at average exercise prices of $58, $57 and $47 were outstanding at December 31, 2011, 2010 and 2009, respectively, but were not included in the computation of diluted weighted average common shares because their effect would have been anti-dilutive.

In February 2009 and July 2007, Newmont issued $518 and $1,150, respectively, of Convertible Senior Notes that, if converted in the future, may have a dilutive effect on the Company’s weighted average number of common shares. The notes issued in 2009 and 2007 are convertible, at the holder’s option, equivalent to a conversion price of $45.73 (11,316,422 shares of common stock) and $45.68 (25,175,131 shares of common stock), respectively, per share of common stock. Under the convertible note indenture, Newmont is required to settle the principal amount of the Convertible Senior Notes in cash and may elect to settle the remaining conversion obligation (Newmont average share price in excess of the conversion price), if any, in cash, shares or a combination thereof. The effect of contingently convertible instruments on diluted earnings per share is calculated under the net share settlement method in accordance with ASC guidance. The average price of the Company’s common stock for the year ended December 31, 2011 and 2010 exceeded the conversion price for the notes issued in 2009 and 2007, respectively, and therefore, 8 and 6 million shares additional shares were included in the computation of diluted weighted average common shares for the year ended December 31, 2011 and 2010, respectively.

In connection with the 2007 Convertible Senior Notes offering, the Company entered into Call Spread Transactions which included the purchase of call options and the sale of warrants. As a result of the Call Spread Transactions, the conversion price of $45.68 was effectively increased to $59.59. Should the warrant transactions become dilutive to the Company’s earnings per share (Newmont’s average share price exceeds $59.59) the effect of the warrant transactions on diluted earnings per share will be calculated in accordance with the net share settlement method.

The Net income attributable to Newmont stockholders and transfers with noncontrolling interests was:

	Years Ended December 31,
	2011		2010		2009
Net income attributable to Newmont stockholders	$	366	$	2,277	$	1,297
Transfers from the noncontrolling interests:
Increase in Additional paid-in capital from sale of PTNNT shares, net of tax of nil, $33 and $115, respectively		—		16		63
Net income attributable to Newmont stockholders and transfers from noncontrolling interests	$	366	$	2,293	$	1,360

NOTE 15    ACQUISITIONS

On April 6, 2011, Newmont acquired all of the outstanding common shares of Fronteer Gold Inc. (“Fronteer”). Pursuant to the terms of the acquisition, shareholders of Fronteer received C$14.00 in cash and one-fourth of a common share in Pilot Gold, which retained certain exploration assets of Fronteer, for each common share of Fronteer. Newmont completed the acquisition to acquire, among other assets, the exploration stage Long Canyon project, which is located approximately one hundred miles from the Company’s existing infrastructure in Nevada and provides the potential for significant development and operating synergies.

131

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

In connection with the acquisition, Newmont incurred transaction costs of $22, which were recorded in Other Expense, net.

The Fronteer purchase price allocation was based on the estimated fair values of assets acquired and liabilities assumed as follows:

Assets:
Cash	$	2
Property, plant and mine development, net		3,226
Investments		281
Other assets		7
	$	3,516
Liabilities:
Deferred income tax liability	$	1,241
Other liabilities		16
		1,257
Net assets acquired	$	2,259

The pro forma impact of the acquisition on Net Income was not material as Fronteer was not in production.

On June 25, 2009 the Company completed the acquisition of the remaining 33.33% interest in Boddington from AngloGold Ashanti Australia Limited (“AngloGold”). Consideration for the acquisition consisted of $982 and a contingent royalty capped at $100, equal to 50% of the average realized operating margin (Revenue less Costs applicable to sales on a by-product basis), if any, exceeding $600 per ounce, payable quarterly beginning in the second quarter of 2010 on one-third of gold sales from Boddington. At the acquisition date, the Company estimated the fair value of the contingent consideration at $62. In connection with the acquisition, the Company incurred $67 of transaction costs in 2009 of which $15 of these costs were paid at December 31, 2011.

At December 31, 2011 and 2010, the estimated fair value of the unpaid contingent consideration was approximately $54 and $83, respectively. Changes to the estimated fair value resulting from periodic revaluations are recorded to Other expense, net. During 2011 and 2010, the Company paid $30 and $4, respectively, related to the contingent consideration. The range of remaining undiscounted amounts the Company could pay is between $0 and $66.

NOTE 16    FAIR VALUE ACCOUNTING

Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

132

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and

Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

The following table sets forth the Company’s assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	Fair Value at December 31, 2011
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	84	$	84	$	—	$	—
Marketable equity securities:
Extractive industries		1,450		1,450		—		—
Other		4		4		—		—
Marketable debt securities:
Asset backed commercial paper		19		—		—		19
Corporate		11		11		—		—
Auction rate securities		5		—		—		5
Trade receivable from provisional copper and gold concentrate sales, net		194		194		—		—
Derivative instruments, net:
Foreign exchange forward contracts		223		—		223		—
Diesel forward contracts		1		—		1		—
	$	1,991	$	1,743	$	224	$	24
Liabilities:
Derivative instruments:
Forward Starting Swaps Contracts	$	399	$	—	$	399	$	—
Boddington contingent consideration		54		—		—		54
Holt Property Royalty		176						176
	$	629	$	—	$	399	$	230

The Company’s cash equivalent instruments are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash equivalent instruments that are valued based on quoted market prices in active markets are primarily money market securities and U.S. Treasury securities.

The Company’s marketable equity securities are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The securities are segregated based on industry. The fair value of the marketable equity securities is calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company.

133

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

The Company’s marketable debt securities include investments in auction rate securities and asset backed commercial paper. The Company reviews the fair value for auction rate securities and asset backed commercial paper on at least a quarterly basis. The auction rate securities are traded in markets that are not active, trade infrequently and have little price transparency. The Company estimated the fair value of the auction rate securities based on weighted average risk calculations using probabilistic cash flow assumptions. The Company estimated the fair value of the asset backed commercial paper using a probability of return to each class of notes reflective of information reviewed regarding the separate classes of securities. The auction rate securities and asset backed commercial paper are classified within Level 3 of the fair value hierarchy. The Company’s corporate marketable debt securities are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy.

The Company’s net trade receivable from provisional copper and gold concentrate sales, subject to final pricing, is valued using quoted market prices based on forward curves and, as such, is classified within Level 1 of the fair value hierarchy.

The Company’s derivative instruments are valued using pricing models and the Company generally uses similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit spreads, measures of volatility, and correlations of such inputs. The Company’s derivatives trade in liquid markets, and as such, model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.

The estimated fair value of the Boddington contingent royalty was determined using a Monte Carlo valuation model which simulates future gold and copper prices and costs applicable to sales to estimate fair value. At December 31, 2011, the Company used the following long-term assumptions: 1) $1,500 per ounce gold price, 2) $3.50 per pound copper price, 3) $90 per barrel of oil, and 4) a $1.00 A$/US$ exchange rate. The Company used a 4% discount rate in the model. The contingent royalty liability is classified within Level 3 of the fair value hierarchy.

The estimated fair value of the Holt sliding scale royalty was determined using a Monte Carlo valuation model to simulate future gold prices utilizing a $1,500 per ounce gold price long-term assumption, various gold production scenarios based on publicly available reserve and resource information for the Holt property and a 4% weighted average discount rate. The sliding scale royalty liability is classified within Level 3 of the fair value hierarchy.

The table below sets forth a summary of changes in the fair value, on a recurring basis, of the Company’s Level 3 financial assets and liabilities for the year ended December 31, 2011:

	Auction Rate Securities		Asset Backed Commercial Paper		Total Assets		Boddington Contingent Consideration			Holt Property Royalty			Total Liabilities
December 31, 2010	$	5	$	19	$	24	$	83		$	—		$	83
Initial Valuation		—		—		—		—			183			183
Revaluation		—		—		—		1			—			1
Settlements		—		—		—		(30	)		(7	)		(37	)
December 31, 2011	$	5	$	19	$	24	$	54		$	176		$	230

134

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

At December 31, 2011, the assets and liabilities classified within Level 3 of the fair value hierarchy represent 1% and 37% of the total assets and liabilities measured at fair value, on a recurring basis.

The following table provides information related to assets and liabilities that are measured at fair value on a nonrecurring basis in periods after initial recognition. At December 31, 2011, Newmont recorded an impairment of $2,097 related to its Hope Bay project. The Hope Bay assets were impaired based on a decision to place the project on care and maintenance. This write-down was recorded using Level 3 inputs, based on the income approach; whereby, Newmont considered the estimated recoverable value, net of transportation and selling costs, of the related assets at Hope Bay.

			Fair Value Measurement Using
Description	At December 31, 2011		Level 1		Level 2		Level 3		Total loss
Inventories:
Materials, supplies and other	$	17	$	—	$	—	$	17	$	(17	)
Property, plant and mine development:
Facilities and equipment		—		—		—		—		(107	)
Construction-in-progress		7		—		—		7		(207	)
Mineral interests		—		—		—		—		(1,766	)
		7		—		—		7		(2,080	)
	$	24	$	—	$	—	$	24	$	(2,097	)

NOTE 17    DERIVATIVE INSTRUMENTS

The Company’s strategy is to provide shareholders with leverage to changes in gold and copper prices by selling its production at spot market prices. Consequently, the Company does not hedge its gold and copper sales. Newmont manages certain risks associated with commodity input costs, treasury rates and foreign currencies using the derivative market. All of the cash flow and fair value derivative instruments described below were transacted for risk management purposes and qualify as hedging instruments. The maximum period over which hedged transactions are expected to occur is five years.

Cash Flow Hedges

The foreign currency, diesel and forward starting swap contracts are designated as cash flow hedges, and as such, the effective portion of unrealized changes in market value have been recorded in Accumulated other comprehensive income and are reclassified to income during the period in which the hedged transaction affects earnings. Gains and losses from hedge ineffectiveness are recognized in current earnings.

Foreign Currency Contracts

Newmont utilizes foreign currency contracts to reduce the variability of the US dollar amount of forecasted foreign currency expenditures caused by changes in A$ and NZ$ exchange rates. Newmont hedges a portion of the Company’s A$ and NZ$ denominated operating expenditures to realize a blended exchange rate each period. The hedging instruments are fixed forward contracts with expiration dates ranging up to five years from the date of issue.

135

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

In June 2011, Newmont began hedging a portion of the Company’s A$ denominated capital expenditures related to the construction of the Akyem project in Africa. The hedging instruments are fixed forward contracts with expiration dates ranging up to two years.

In July 2011, Newmont began hedging a portion of the Company’s A$ denominated capital expenditures related to the construction of a mine shaft at its Tanami operations in Australia. The hedging instruments are fixed forward contracts with expiration dates ranging up to three years.

Newmont had the following foreign currency derivative contracts outstanding at December 31, 2011:

	Expected Maturity Date
	2012			2013			2014			2015			2016			Total/ Average
A$ Operating Fixed Forward Contracts:
A$ notional (millions)		1,218			951			665			375			141			3,350
Average rate ($/A$)		0.91			0.92			0.89			0.87			0.89			0.90
Expected hedge ratio		76	%		62	%		46	%		26	%		10	%
A$ Capital Fixed Forward Contracts:
A$ notional (millions)		57			51			22			—			—			130
Average rate ($/A$)		1.01			0.98			0.96			—			—			0.99
Expected hedge ratio		42	%		28	%		23	%		—			—
NZ$ Operating Fixed Forward Contracts:
NZ$ notional (millions)		62			23			—			—			—			85
Average rate ($/NZ$)		0.75			0.77			—			—			—			0.76
Expected hedge ratio		48	%		20	%		—			—			—

Diesel Fixed Forward Contracts

Newmont hedges a portion of its operating cost exposure related to diesel consumed at its Nevada operations to reduce the variability in realized diesel prices. The hedging instruments consist of a series of financially settled fixed forward contracts with expiration dates ranging up to three years from the date of issue.

Newmont had the following diesel derivative contracts outstanding at December 31, 2011:

	Expected Maturity Date
	2012			2013			2014			Total/ Average
Diesel Fixed Forward Contracts:
Diesel gallons (millions)		25			11			3			39
Average rate ($/gallon)		2.81			2.90			2.82			2.84
Expected Nevada hedge ratio		56	%		24	%		7	%

136

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Forward Starting Swap Contracts

During 2011, Newmont entered into forward starting swap contracts with a total notional value of $2,000. These swaps hedge movements in treasury rates related to an expected debt issuance. The Company subsequently revised its expected debt issuance date to the first half of 2012 and extended the terms of the forward starting swap contracts, resulting in the recognition of $15 in charges related to hedge ineffectiveness in 2011. At December 31, 2011, the hedge contracts were in a liability position of $399. The proceeds from the expected debt issuance will be adjusted by the fair value of the swap contracts at the time of issuance.

Treasury Rate Lock Contracts

In connection with the 2019 and 2039 notes issued in September 2009, Newmont acquired treasury rate lock contracts to reduce the variability of the proceeds realized from the bond issuances. The treasury rate locks resulted in $6 and $5 unrealized gains in Accumulated other comprehensive income for the 2019 and 2039 notes, respectively. The Company previously acquired treasury rate locks in connection with the issuance of the 2035 notes that resulted in a $10 unrealized loss in Accumulated other comprehensive income. The gains/losses from these contracts are recognized in Interest expense, net over the terms of the respective notes.

Fair Value Hedges

Interest Rate Swap Contracts

Newmont had $222 fixed to floating swap contracts designated as a hedge against debt which matured in May 2011.

Derivative Instrument Fair Values

Newmont had the following derivative instruments designated as hedges at December 31, 2011 and December 31, 2010:

	Fair Values of Derivative Instruments
	At December 31, 2011
	Other Current Assets			Other Long-Term Assets			Other Current Liabilities			Other Long-Term Liabilities
Foreign currency exchange contracts:
A$ operating fixed forward contracts		$	121		$	112		$	6		$	4
A$ capital fixed forward contracts			—			—			—			1
NZ$ operating fixed forward contracts			2			—			1			—
Diesel fixed forward contracts			4			—			2			1
Forward starting swap contracts			—			—			399			—
Total derivative instruments (Notes 21 and 24)		$	127		$	112		$	408		$	6

137

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	Fair Values of Derivative Instruments
	At December 31, 2010
	Other Current Assets		Other Long-Term Assets		Other Current Liabilities		Other Long-Term Liabilities
Foreign currency exchange contracts:
A$ operating fixed forward contracts	$	181	$	114	$	—	$	—
NZ$ operating fixed forward contracts		5		1		—		—
Diesel fixed forward contracts		7		1		—		—
Interest rate swap contracts		3		—		—		—
Total derivative instruments (Notes 21 and 24)	$	196	$	116	$	—	$	—

The following tables show the location and amount of gains (losses) reported in the Company’s Consolidated Financial Statements related to the Company’s cash flow and fair value hedges and the gains (losses) recorded for the hedged item related to the fair value hedges.

	Foreign Currency Exchange Contracts											Diesel Fixed  Forward Contracts
For the years ended December 31,	2011				2010			2009				2011			2010			2009
Cash flow hedging relationships:
Gain recognized in other comprehensive income (effective portion)		$	151			$	287		$	245			$	6		$	6		$	7
Gain (loss) reclassified from Accumulated other comprehensive income into income (effective portion) (1)		$	188			$	92		$	(6	)		$	14		$	4		$	(11	)
	Forward Starting Swap Contracts											Treasury Rate Lock Contracts
For the years ended December 31,	2011				2010			2009				2011			2010			2009
Cash flow hedging relationships:
Gain (loss) recognized in other comprehensive income (effective portion)		$	(399	)		$	—		$	—			$	—		$	—		$	11
Loss reclassified from Accumulated other comprehensive income into income (ineffective portion) (2)		$	(15	)		$	—		$	—			$	—		$	—		$	—

⁽¹⁾  The gain (loss) for the effective portion of foreign currency exchange and diesel cash flow hedges reclassified from Accumulated other comprehensive income is included in Costs applicable to sales.

⁽²⁾  The ineffective portion recognized for cash flow hedges is included in Other Income, net.

	Interest Rate Swap Contracts									8  5/8% Debentures (Hedged Portion)
For the years ended December 31,	2011			2010			2009			2011			2010		2009
Fair value hedging relationships:
Gain (loss) recognized in income (effective portion) (1)	$	3		$	6		$	4		$	(6	)	$	—	$	(1	)
Gain (loss) recognized in income (ineffective portion) (2)	$	(2	)	$	(4	)	$	(3	)	$	—		$	2	$	(3	)

⁽¹⁾ The gain (loss) recognized for the effective portion of fair value hedges and the underlying hedged debt is included in Interest expense, net.

⁽²⁾  The ineffective portion recognized for fair value hedges and the underlying hedged debt is included in Other income, net.

138

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

The amount to be reclassified from Accumulated other comprehensive income, net of tax to income during the next 12 months is a gain of approximately $80.

Provisional Copper and Gold Sales

The Company’s provisional copper and gold sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the gold and copper concentrates at the prevailing indices’ prices at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to final settlement.

The average LME copper price was $4.00 per pound during 2011, compared with the Company’s recorded average provisional price of $4.02 before mark-to-market losses and treatment and refining charges. During 2011, decreasing copper prices resulted in a provisional pricing mark-to-market loss of $92 ($0.26 per pound). At December 31, 2011, Newmont had copper sales of 79 million pounds priced at an average of $3.43 per pound, subject to final pricing over the next several months.

The average London P.M. fix for gold was $1,572 per ounce during 2011, compared with the Company’s recorded average provisional price of $1,567 per ounce before mark-to-market gains and treatment and refining charges. During 2011, increasing gold prices resulted in a provisional pricing mark-to-market gain of $31 ($5 per ounce). At December 31, 2011, Newmont had gold sales of 85,000 ounces priced at an average of $1,576 per ounce, subject to final pricing over the next several months.

NOTE 18    INVESTMENTS

	At December 31, 2011
	Cost/Equity Basis			Unrealized							Fair/Equity Basis
				Gain			Loss
Current:
Marketable Equity Securities:
Paladin Energy Ltd.		$	60		$	13		$	—			$	73
Other			15			7			(1	)			21
		$	75		$	20		$	(1	)		$	94
Long-term:
Marketable Debt Securities:
Asset backed commercial paper		$	25		$	—		$	(6	)		$	19
Auction rate securities			7			—			(2	)			5
Corporate			10			1			—				11
			42			1			(8	)			35
Marketable Equity Securities:
Canadian Oil Sands Trust			302			401			—				703
Gabriel Resources Ltd.			76			236			—				312
Regis Resources Ltd.			36			218			—				254
Other			92			16			(17	)			91
			506			871			(17	)			1,360
Other investments, at cost			11			—			—				11
Investment in Affiliates:
La Zanja			66			—			—				66
		$	625		$	872		$	(25	)		$	1,472

139

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	At December 31, 2010
	Cost/Equity Basis			Unrealized							Fair/Equity Basis
				Gain			Loss
Current:
Marketable Equity Securities:
New Gold Inc.		$	5		$	54		$	—			$	59
Other			19			35			—				54
		$	24		$	89		$	—			$	113
Long-term:
Marketable Debt Securities:
Asset backed commercial paper		$	25		$	—		$	(6	)		$	19
Auction rate securities			7			—			(2	)			5
Corporate			7			3			—				10
			39			3			(8	)			34
Marketable Equity Securities:
Canadian Oil Sands Trust			308			508			—				816
Gabriel Resources Ltd.			78			325			—				403
Regis Resources Ltd.			23			148			—				171
Other			39			37			—				76
			448			1,018			—				1,466
Other investments, at cost			11			—			—				11
Investment in Affiliates:
La Zanja			57			—			—				57
		$	555		$	1,021		$	(8	)		$	1,568

In conjunction with the April 6, 2011 acquisition of Fronteer, Newmont acquired $208 of Paladin Energy Ltd. securities and $73 of other marketable equity securities which were subsequently impaired for other-than-temporary declines in value resulting in charges of $148 for Paladin Energy Ltd. and $32 for other marketable equity securities.

In 2011, Newmont sold its investment in New Gold Inc. and realized a gain of $50 and sold other marketable equity securities and realized a gain of $14.

In 2010, AGR, in which the Company held a 40% equity interest, was dissolved and the Company received consideration of $14 and recorded a gain of $6. During 2010, the Company recognized impairments for other-than-temporary declines in value of $1 for other marketable equity securities.

The following tables present the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired,

140

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

aggregated by length of time that the individual securities have been in a continuous unrealized loss position:

	Less than 12 Months						12 Months or Greater						Total
At December 31, 2011	Fair Value			Unrealized Losses			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses
Asset backed commercial paper		$	—		$	—		$	19		$	6		$	19		$	6
Auction rate securities			—			—			5			2			5			2
Marketable equity securities			42			18			—			—			42			18
		$	42		$	18		$	24		$	8		$	66		$	26
	Less than 12 Months						12 Months or Greater						Total
At December 31, 2010	Fair Value			Unrealized Losses			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses
Asset backed commercial paper		$	—		$	—		$	19		$	6		$	19		$	6
Auction rate securities			—			—			5			2			5			2
		$	—		$	—		$	24		$	8		$	24		$	8

Included in the tables above are the unrealized losses of $26 and $8 at December 31, 2011 and 2010, respectively, related to the Company’s investments in asset backed commercial paper, auction rate securities and marketable equity securities. While the fair values of these investments are below their respective cost, the Company views these declines as temporary. The Company intends to hold its investment in auction rate securities and asset backed commercial paper until maturity or such time that the market recovers and therefore considers these losses temporary.

NOTE 19    INVENTORIES

	At December 31,
	2011		2010
In-process	$	159	$	142
Concentrate		116		111
Precious metals		12		4
Materials, supplies and other		427		401
	$	714	$	658

The Company recorded aggregate write-downs of $27, $9, and $9 for 2011, 2010, and 2009, respectively, to reduce the carrying value of material and supply inventories to net realizable value. $17 of the write-downs in 2011 are related to the Hope Bay project and are classified as a component of Other expense, net. The remaining write-downs in 2011, 2010, and 2009 were related to Nevada and Batu Hijau. These inventory write-downs are classified as components of Costs applicable to sales.

141

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 20    STOCKPILES AND ORE ON LEACH PADS

	At December 31,
	2011		2010
Current:
Stockpiles	$	506	$	389
Ore on leach pads		165		228
	$	671	$	617
Long-term:
Stockpiles	$	1,904	$	1,397
Ore on leach pads		367		360
	$	2,271	$	1,757

	At December 31,
	2011		2010
Stockpiles and ore on leach pads:
Nevada	$	536	$	479
La Herradura		6		6
Yanacocha		512		496
Boddington		435		248
Batu Hijau		1,119		879
Other Australia/New Zealand		161		145
Ahafo		173		121
	$	2,942	$	2,374

NOTE 21    OTHER ASSETS

	At December 31,
	2011		2010
Other current assets:
Refinery metal inventory and receivable	$	796	$	617
Derivative instruments		127		196
Other prepaid assets		93		65
Restricted cash		20		1
Note receivable		12		12
Other		85		71
	$	1,133	$	962
Other long-term assets:
Goodwill	$	188	$	188
Intangible assets		147		91
Income tax receivable		142		119
Derivative instruments		112		116
Debt issuance costs		59		39
Restricted cash		48		25
Other receivables		17		19
Other		144		144
	$	857	$	741

142

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 22    PROPERTY, PLANT AND MINE DEVELOPMENT

	Depreciable Life (in years)		At December 31, 2011										At December 31, 2010
						Accumulated				Net Book						Accumulated				Net Book
			Cost			Amortization				Value			Cost			Amortization				Value
Land		—		$	263		$	—			$	263		$	118		$	—			$	118
Facilities and equipment		1 - 27			13,056			(5,926	)			7,130			12,424			(5,460	)			6,964
Mine development		1 - 27			3,903			(1,758	)			2,145			3,217			(1,445	)			1,772
Mineral interests		1 - 27			4,868			(713	)			4,155			3,456			(660	)			2,796
Asset retirement cost		1 - 27			758			(305	)			453			638			(238	)			400
Construction-in-progress		—			1,735			—				1,735			857			—				857
				$	24,583		$	(8,702	)		$	15,881		$	20,710		$	(7,803	)		$	12,907
Leased assets included above in facilities and equipment		2 - 25		$	374		$	(250	)		$	124		$	421		$	(289	)		$	132
			At December 31, 2011										At December 31, 2010
Mineral Interests	Amortization Period (in years)		Gross Carrying Value			Accumulated Amortization				Net Book Value			Gross Carrying Value			Accumulated Amortization				Net Book Value
Production stage		1 - 27		$	1,256		$	(713	)		$	543		$	1,235		$	(660	)		$	575
Development stage		—			149			—				149			149			—				149
Exploration stage		—			3,463			—				3,463			2,072			—				2,072
				$	4,868		$	(713	)		$	4,155		$	3,456		$	(660	)		$	2,796

Construction-in-progress at December 31, 2011 of $1,735 included $916 at South America primarily related to engineering and construction at Conga and infrastructure at Yanacocha, $269 at Africa related to engineering and construction at Akyem and infrastructure at Ahafo, $263 at North America related to infrastructure at Nevada, and $246 at Asia Pacific related to infrastructure at Boddington, Tanami, Kalgoorlie and Batu Hijau.

Construction-in-progress at December 31, 2010 of $857 included $266 at South America primarily related to Conga and infrastructure at Yanacocha, including a water treatment plant, $252 at North America related to tailings dam expansion and processing facility improvements in Nevada and other infrastructure at Hope Bay and Nevada, $222 at Asia Pacific related to tailings dam expansion at Boddington and other infrastructure at Boddington, Tanami and Batu Hijau and $84 at Africa related to the Akyem project and infrastructure at Ahafo.

Write-down of property, plant and mine development totaled $2,084, $6 and $7 for 2011, 2010 and 2009, respectively. The write-down in 2011 is primarily related to the Hope Bay project. The 2010 and 2009 write-downs are due to miscellaneous asset impairments.

143

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 23    DEBT

	At December 31, 2011				At December 31, 2010
	Current		Non-Current		Current		Non-Current
Sale-leaseback of refractory ore treatment plant	$	165	$	—	$	30	$	134
8 5/8% debentures, net of discount (due 2011)		—		—		217		—
Corporate revolving credit facility (due 2016)		—		33		—		—
2012 Convertible Senior Notes, net of discount		514		—		—		488
2014 Convertible Senior Notes, net of discount		—		512		—		489
2017 Convertible Senior Notes, net of discount		—		452		—		434
2019 Senior Notes, net of discount		—		896		—		896
2035 Senior Notes, net of discount		—		598		—		598
2039 Senior Notes, net of discount		—		1,087		—		1,087
Ahafo project facility		10		45		10		55
Other capital leases		—		1		2		1
	$	689	$	3,624	$	259	$	4,182

Scheduled minimum debt repayments are $689 in 2012, $10 in 2013, $522 in 2014, $10 in 2015, $43 in 2016 and $3,039 thereafter.

Sale-Leaseback of Refractory Ore Treatment Plant

In September 1994, the Company entered into a sale and leaseback agreement for its refractory ore treatment plant located in Carlin, Nevada. The lease term is 21 years and includes purchase options during and at the end of the lease at predetermined prices. During 2011, the Company expressed the intent to exercise the early purchase option and buy the refractory treatment plant. The agreement for the early buy-out will result in $165 aggregate payments during 2012 at which point, the Company will take ownership of the treatment plant. The related asset is specialized, therefore it is not practicable to estimate the fair value of this debt.

8  ⁵/8% Senior Notes

Newmont had uncollateralized debentures with a principal amount of $223 due May 2011 bearing an annual interest rate of 8.63%. In May 2011, the Company repaid the $223 balance outstanding on the 8 5/8% debentures.

Corporate Revolving Credit Facility

Effective May 20, 2011, the Company entered into a new uncollateralized $2,500 revolving credit facility with a syndicate of commercial banks. This new revolving credit facility replaced the existing revolving credit facility which was cancelled upon the effectiveness of the new facility. The new facility provides for borrowings in U.S. dollars and contains a letter of credit sub-facility. The new facility matures in May 2016. Facility fees vary based on the credit ratings of the Company’s senior, uncollateralized, long-term debt. Borrowings under the facility bear interest at a market based rate plus a margin determined by the Company’s credit rating. At December 31, 2011, we had $33 in borrowings outstanding under the facility. There was $244 and $153 outstanding in letters of credit at December 31, 2011 and 2010, respectively.

144

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Subsidiary Financings

PTNNT Revolving Credit Facility

Effective May 27, 2011, PTNNT entered into a new $600 reducing revolving credit facility with a syndicate of banks. This new reducing revolving facility provides for borrowings in U.S. dollars. The facility matures in March 2017. The facility is non-recourse to Newmont and substantially all of PTNNT’s assets are pledged as collateral. Borrowings under the facility bear interest at a rate per annum equal to LIBOR plus a margin of 4.00%. Commitment fees currently accrue on the daily average unused amount of the commitment of each lender at an annual rate of 2.00%. A one-time arrangement fee of $18 related to the facility was capitalized as debt issuance cost during 2011 and will be amortized over the term of the debt. There were no borrowings outstanding under the facility at December 31, 2011.

2012 Convertible Senior Notes

In February 2009, the Company issued $518 of uncollateralized convertible senior notes maturing on February 15, 2012 for net proceeds of $504. The notes pay interest semi-annually at a rate of 3.0% per annum and the effective interest rate is 8.5%. The notes are convertible, at the holder’s option, equivalent to a conversion price of $45.73 per share of common stock. Upon conversion, the principal amount and all accrued interest will be repaid in cash. In December 2011, the Company provided notice that it will settle the conversion premium in cash. The Company is not entitled to redeem the notes prior to their stated maturity dates. Using prevailing interest rates on similar instruments, the estimated fair value of these senior notes was $674 and $668 at December 31, 2011 and 2010, respectively. The foregoing fair value estimates were prepared with the assistance of an independent third party and may or may not reflect the actual trading value of this debt.

2014 and 2017 Convertible Senior Notes

In July 2007, the Company issued $1,150 uncollateralized convertible senior notes due in 2014 and 2017, each with a principal amount of $575 for net proceeds of $1,126. The 2014 notes, maturing on July 15, 2014, pay interest semi-annually at a rate of 1.25% per annum, and the 2017 notes, maturing on July 15, 2017, pay interest semi-annually at a rate of 1.63% per annum. The effective interest rates are 6.0% and 6.25% for the 2014 and 2017 notes, respectively. The notes are convertible, at the holder’s option, at a conversion price of $45.68 per share of common stock. Upon conversion, the principal amount and all accrued interest will be repaid in cash and any conversion premium will be settled in shares of our common stock or, at our election, cash or any combination of cash and shares of our common stock. In connection with the convertible senior notes offering, the Company entered into Call Spread Transactions. The Call Spread Transactions included the purchase of call options and the sale of warrants. As a result of the Call Spread Transactions, the conversion price of $45.68 was effectively increased to $59.59. The Company is not entitled to redeem the notes prior to their stated maturity dates. Using prevailing interest rates on similar instruments, the estimated fair value of the 2014 and 2017 senior notes was $713 and $651, respectively, at December 31, 2011 and $697 and $627, respectively, at December 31, 2010. The foregoing fair value estimates were prepared with the assistance of an independent third party and may or may not reflect the actual trading value of this debt.

145

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

The Company’s Consolidated Balance Sheets report the following related to the convertible senior notes:

	At December 31, 2011									At December 31, 2010
	Convertible Senior Notes Due									Convertible Senior Notes Due
	2012			2014			2017			2012			2014			2017
Additional paid-in capital	$	46		$	97		$	123		$	46		$	97		$	123
Principal amount	$	518		$	575		$	575		$	518		$	575		$	575
Unamortized debt discount		(4	)		(63	)		(123	)		(30	)		(86	)		(141	)
Net carrying amount	$	514		$	512		$	452		$	488		$	489		$	434

For the years ended December 31, 2011, 2010, and 2009, the Company recorded $32, $32, and $30 of interest expense for the contractual interest coupon and $67, $63, and $56 of amortization of the debt discount, respectively, related to the convertible senior notes. The remaining unamortized debt discount is amortized over the remaining one, three and six year periods of the 2012, 2014 and 2017 convertible senior notes, respectively. At December 31, 2011, the if-converted value of the 2012, 2014, and 2017 convertible senior notes exceeded the related principle amounts by $194, $236, and $236, respectively.

2019 and 2039 Senior Notes

In September 2009, the Company completed a two part public offering of $900 and $1,100 uncollateralized senior notes maturing on October 1, 2019 and October 1, 2039, respectively. Net proceeds from the 2019 and 2039 notes were $895 and $1,080, respectively. The 2019 notes pay interest semi-annually at a rate of 5.13% per annum and the 2039 notes pay semi-annual interest of 6.25% per annum. Using prevailing interest rates on similar instruments, the estimated fair value of the 2019 and 2039 senior notes was $993 and $1,299, respectively, at December 31, 2011 and $984 and $1,189, respectively, at December 31, 2010. The foregoing fair value estimates were prepared with the assistance of an independent third party and may or may not reflect the actual trading value of this debt.

2035 Senior Notes

In March 2005, Newmont issued uncollateralized senior notes with a principal amount of $600 due April 2035 bearing an annual interest rate of 5 7/8%. Interest on the notes is paid semi-annually in April and October. Using prevailing interest rates on similar instruments, the estimated fair value of these senior notes was $680 and $624 at December 31, 2011 and 2010, respectively. The foregoing fair value estimate was prepared with the assistance of an independent third party and may or may not reflect the actual trading value of this debt.

Ahafo Project Facility

Newmont Ghana Gold Limited (“NGGL”) has an $85 project financing agreement with the International Finance Corporation (“IFC”) ($75) and a commercial lender ($10). NGGL borrowed $75 from the IFC in December 2008 and borrowed the remaining $10 in February 2009. Amounts borrowed are guaranteed by Newmont. Semi-annual payments through April 2017 are required. Borrowings bear interest of LIBOR plus 3.5%.

Debt Covenants

The Company’s senior notes and sale-leaseback of the refractory ore treatment plant debt facilities contain various covenants and default provisions including payment defaults, limitation on liens, limitation on sales and leaseback agreements and merger restrictions.

146

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

The Ahafo project facility contains a financial ratio covenant requiring the Company to maintain a net debt (total debt net of cash and cash equivalents) to EBITDA (earnings before interest expense, income and mining taxes, depreciation and amortization) ratio of less than or equal to 4.0 and a net debt to total capitalization ratio of less than or equal to 62.5%.

In addition to the covenants noted above, the corporate revolving credit facility contains a financial ratio covenant requiring the Company to maintain a net debt (total debt net of cash and cash equivalents) to total capitalization ratio of less than or equal to 62.5%. Furthermore, the corporate revolving credit facility contains covenants limiting the sale of all or substantially all of the Company’s assets, certain change of control provisions and a negative pledge on certain assets.

At December 31, 2011 and 2010, the Company and its related entities were in compliance with all debt covenants and provisions related to potential defaults.

NOTE 24    OTHER LIABILITIES

	At December 31,
	2011		2010
Other current liabilities:
Refinery metal payable	$	796	$	617
Derivative instruments		408		—
Accrued capital expenditures		248		83
Accrued operating costs		231		217
Taxes other than income and mining		93		135
Reclamation and remediation liabilities		71		64
Interest		55		66
Royalties		53		90
Deferred income tax		50		54
Boddington contingent consideration		24		32
Holt property royalty		17		—
Other		87		60
	$	2,133	$	1,418
Other long-term liabilities:
Holt property royalty	$	159	$	40
Income and mining taxes		88		36
Power supply agreements		45		45
Boddington contingent consideration		30		51
Derivative instruments		6		—
Other		36		49
	$	364	$	221

147

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 25    ACCUMULATED OTHER COMPREHENSIVE INCOME

	At December 31,
	2011			2010
Unrealized gain on marketable securities, net of $159 and $200 tax expense, respectively	$	707		$	902
Foreign currency translation adjustments		163			155
Pension liability adjustments, net of $125 and $95 tax benefit, respectively		(231	)		(176	)
Other post-retirement benefit adjustments, net of $4 and $6 tax expense, respectively		6			11
Changes in fair value of cash flow hedge instruments, net of tax benefit (expense) of $71 and $(97), respectively		7			216
	$	652		$	1,108

NOTE 26    RELATED PARTY TRANSACTIONS

Newmont had transactions with AGR in 2010 and 2009.

	Years Ended December 31,
	2011		2010		2009
Gold and silver sales	$	—	$	3	$	10
Refining fees paid	$	—	$	—	$	3

NOTE 27    NET CHANGE IN OPERATING ASSETS AND LIABILITIES

Net cash provided from operations attributable to the net change in operating assets and liabilities is composed of the following:

	Years Ended December 31,
	2011			2010			2009
Decrease (increase) in operating assets:
Trade and accounts receivable	$	52		$	(153	)	$	42
Inventories, stockpiles and ore on leach pads		(495	)		(501	)		(378	)
EGR refinery assets		(266	)		116			(508	)
Other assets		(51	)		(87	)		(19	)
Increase (decrease) in operating liabilities:
Accounts payable and other accrued liabilities		226			38			177
EGR refinery liabilities		266			(116	)		508
Reclamation liabilities		(43	)		(51	)		(49	)
	$	(311	)	$	(754	)	$	(227	)

NOTE 28    SUPPLEMENTAL CASH FLOW INFORMATION

	Years Ended December 31,
	2011		2010		2009
Income and mining taxes, net of refunds	$	1,526	$	1,185	$	431
Pension plan and other benefit contributions	$	29	$	163	$	58
Interest, net of amounts capitalized	$	216	$	228	$	117

Noncash Investing Activities and Financing Activities

Newmont sold a royalty interest in exchange for 4 million shares of Regis Resources which resulted in non-cash increases to Investments of $12 in 2011.

148

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 29    OPERATING LEASE COMMITMENTS

The Company leases certain assets, such as equipment and facilities, under operating leases expiring at various dates through 2020. Future minimum annual lease payments are $23 in 2012, $20 in 2013, $10 in 2014, $10 in 2015, $10 in 2016 and $27 thereafter, totaling $100. Rent expense for 2011, 2010 and 2009 was $68, $46 and $48, respectively.

NOTE 30    CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

The following Consolidating Financial Statements are presented to satisfy disclosure requirements of Rule 3-10(e) of Regulation S-X resulting from the inclusion of Newmont USA Limited (“Newmont USA”), a wholly-owned subsidiary of Newmont, as a co-registrant with Newmont on a shelf registration statement on Form S-3 filed under the Securities Act of 1933 under which securities of Newmont (including debt securities which may be guaranteed by Newmont USA) may be issued from time to time (the “Shelf Registration Statement”). To the extent Newmont issues debt securities under the Shelf Registration Statement, it is expected that Newmont USA will provide a guarantee of that debt. In accordance with Rule 3-10(e) of Regulation S-X, Newmont USA, as the subsidiary guarantor, is 100% owned by Newmont, the guarantee will be full and unconditional, and it is not expected that any other subsidiary of Newmont will guarantee any security issued under the Shelf Registration Statement. There are no significant restrictions on the ability of Newmont USA to obtain funds from its subsidiaries by dividend or loan.

	For the Year Ended December 31, 2011
Condensed Consolidating Statement of Income	Newmont Mining Corporation			Newmont USA			Other Subsidiaries			Eliminations			Newmont Mining Corporation Consolidated
Sales	$	—		$	6,610		$	3,748		$	—		$	10,358
Costs and expenses
Costs applicable to sales(1)		—			2,358			1,570			(38	)		3,890
Amortization		—			651			386			(1	)		1,036
Reclamation and remediation		—			69			51			—			120
Exploration		—			180			170			—			350
Advanced projects, research and development		—			183			191			(1	)		373
General and administrative		—			156			2			40			198
Write-down of property, plant and mine development		—			4			2,080			—			2,084
Other expense, net		—			166			99			—			265
		—			3,767			4,549			—			8,316
Other income (expense)
Other income, net		(179	)		115			76			—			12
Interest income — intercompany		152			7			16			(175	)		—
Interest expense —intercompany		(19	)		—			(156	)		175			—
Interest expense, net		(219	)		(16	)		(9	)		—			(244	)
		(265	)		106			(73	)		—			(232	)
Income before income and mining tax and other items		(265	)		2,949			(874	)		—			1,810
Income and mining tax expense		199			(1,033	)		121			—			(713	)
Equity income (loss) of affiliates		432			(19	)		283			(685	)		11
Income from continuing operations		366			1,897			(470	)		(685	)		1,108
Loss from discontinued operations		—			7			(143	)		—			(136	)
Net income		366			1,904			(613	)		(685	)		972
Net income attributable to noncontrolling interests		—			(697	)		(21	)		112			(606	)
Net income attributable to Newmont stockholders	$	366		$	1,207		$	(634	)	$	(573	)	$	366

⁽¹⁾  Excludes Amortization and Reclamation and remediation.

149

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	For the Year Ended December 31, 2010
Condensed Consolidating Statement of Income	Newmont Mining Corporation			Newmont USA			Other Subsidiaries			Eliminations			Newmont Mining Corporation Consolidated
Sales	$	—		$	6,568		$	2,972		$	—		$	9,540
Costs and expenses
Costs applicable to sales (1)		—			2,171			1,341			(28	)		3,484
Amortization		—			601			345			(1	)		945
Reclamation and remediation		—			48			17			—			65
Exploration		—			131			87			—			218
Advanced projects, research and development		—			110			107			(1	)		216
General and administrative		—			144			4			30			178
Write-down of property, plant and mine development		—			5			1			—			6
Other expense, net		—			183			78			—			261
		—			3,393			1,980			—			5,373
Other income (expense)
Other income, net		(4	)		29			84			—			109
Interest income — intercompany		161			7			5			(173	)		—
Interest expense — intercompany		(11	)		—			(162	)		173			—
Interest expense, net		(246	)		(27	)		(6	)		—			(279	)
		(100	)		9			(79	)		—			(170	)
Income before income and mining tax and other items		(100	)		3,184			913			—			3,997
Income and mining tax expense		479			(1,114	)		(221	)		—			(856	)
Equity income (loss) of affiliates		1,926			2			281			(2,206	)		3
Income from continuing operations		2,305			2,072			973			(2,206	)		3,144
Loss from discontinued operations		(28	)		2			(30	)		28			(28	)
Net income		2,277			2,074			943			(2,178	)		3,116
Net income attributable to noncontrolling interests		—			(1,026	)		34			153			(839	)
Net income attributable to Newmont stockholders	$	2,277		$	1,048		$	977		$	(2,025	)	$	2,277

⁽¹⁾ Excludes Amortization and Reclamation and remediation.

150

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	For the Year Ended December 31, 2009
Condensed Consolidating Statement of Income	Newmont Mining Corporation			Newmont USA			Other Subsidiaries			Eliminations			Newmont Mining Corporation Consolidated
Sales	$	—		$	5,911		$	1,794		$	—		$	7,705
Costs and expenses
Costs applicable to sales (1)		—			2,128			903			(23	)		3,008
Amortization		—			565			242			(1	)		806
Reclamation and remediation		—			41			18			—			59
Exploration		—			101			86			—			187
Advanced projects, research and development		—			66			71			(2	)		135
General and administrative		—			129			4			26			159
Write-down of property, plant and mine development		—			6			1			—			7
Other expense, net		9			160			189			—			358
		9			3,196			1,514			—			4,719
Other income (expense)
Other income, net		(11	)		27			72			—			88
Interest income — intercompany		90			7			5			(102	)		—
Interest expense — intercompany		(9	)		—			(93	)		102			—
Interest expense, net		(65	)		(47	)		(8	)		—			(120	)
		5			(13	)		(24	)		—			(32	)
Income before income and mining tax and other items		(4	)		2,702			256			—			2,954
Income and mining tax expense		1			(781	)		(49	)		—			(829	)
Equity income (loss) of affiliates		1,316			5			185			(1,522	)		(16	)
Income from continuing operations		1,313			1,926			392			(1,522	)		2,109
Loss from discontinued operations		(16	)		(16	)		—			16			(16	)
Net income		1,297			1,910			392			(1,506	)		2,093
Net income attributable to noncontrolling interests		—			(795	)		(77	)		76			(796	)
Net income attributable to Newmont stockholders	$	1,297		$	1,115		$	315		$	(1,430	)	$	1,297

(1) Excludes Amortization and Reclamation and remediation.

151

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	For the Year Ended December 31, 2011
Condensed Consolidating Statement of Cash Flows	Newmont Mining Corporation			Newmont USA			Other Subsidiaries			Eliminations			Newmont Mining Corporation Consolidated
Operating activities:
Net income	$	366		$	1,904		$	(613	)	$	(685	)	$	972
Adjustments		131			624			1,490			685			2,930
Net change in operating assets and liabilities		(102	)		(18	)		(191	)		—			(311	)
Net cash provided from (used in) continuing operations		395			2,510			686			—			3,591
Net cash used in discontinued operations		—			—			(7	)		—			(7	)
Net cash provided from (used in) operations		395			2,510			679			—			3,584
Investing activities:
Additions to property, plant and mine development		—			(1,853	)		(934	)		—			(2,787	)
Acquisitions, net		—			—			(2,309	)		—			(2,309	)
Proceeds from sale of marketable securities		—			65			16			—			81
Purchases of marketable securities		—			(3	)		(18	)		—			(21	)
Proceeds from sale of other assets		—			(55	)		64			—			9
Other		—			—			(40	)		—			(40	)
Net cash used in investing activities		—			(1,846	)		(3,221	)		—			(5,067	)
Financing activities:
Net borrowings (repayments)		26			(278	)		(10	)		—			(262	)
Net intercompany borrowings (repayments)		33			(2,559	)		2,560			(34	)		—
Proceeds from stock issuance, net		40			—			—			—			40
Dividends paid to noncontrolling interests		—			(151	)		—			34			(117	)
Dividends paid to common stockholders		(494	)		—			—			—			(494	)
Other		—			(24	)		3			—			(21	)
Net cash provided from (used in) financing activities		(395	)		(3,012	)		2,553			—			(854	)
Effect of exchange rate changes on cash		—			(3	)		44			—			41
Net change in cash and cash equivalents		—			(2,351	)		55			—			(2,296	)
Cash and cash equivalents at beginning of period		—			3,877			179			—			4,056
Cash and cash equivalents at end of period	$	—		$	1,526		$	234		$	—		$	1,760

152

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	For the Year Ended December 31, 2010
Condensed Consolidating Statement of Cash Flows	Newmont Mining Corporation			Newmont USA			Other Subsidiaries			Eliminations			Newmont Mining Corporation Consolidated
Operating activities:
Net income (loss)	$	2,277		$	2,074		$	943		$	(2,178	)	$	3,116
Adjustments		(600	)		865			(1,625	)		2,178			818
Net change in operating assets and liabilities		(57	)		(512	)		(185	)		—			(754	)
Net cash provided from (used in) continuing operations		1,620			2,427			(867	)		—			3,180
Net cash used in discontinued operations		—			(13	)		—			—			(13	)
Net cash provided from (used in) operations		1,620			2,414			(867	)		—			3,167
Investing activities:
Additions to property, plant and mine development		—			(721	)		(681	)		—			(1,402	)
Acquisitions, net		—			—			(4	)		—			(4	)
Proceeds from sale of marketable securities		—			—			3			—			3
Purchases of marketable securities		—			(5	)		(23	)		—			(28	)
Proceeds from sale of other assets		—			16			40			—			56
Other		—			—			(44	)		—			(44	)
Net cash used in investing activities		—			(710	)		(709	)		—			(1,419	)
Financing activities:
Net repayments		—			(420	)		(10	)		—			(430	)
Net intercompany borrowings (repayments)		(1,442	)		(152	)		1,730			(136	)		—
Proceeds from stock issuance, net		60			—			—			—			60
Sale of noncontrolling interests		—			229			—			—			229
Acquisition of noncontrolling interests		—			—			(110	)		—			(110	)
Dividends paid to noncontrolling interests		—			(598	)		—			136			(462	)
Dividends paid to common stockholders		(246	)		—			—			—			(246	)
Other		—			46			(2	)		—			44
Net cash provided from (used in) financing activities		(1,628	)		(895	)		1,608			—			(915	)
Effect of exchange rate changes on cash		—			1			7			—			8
Net change in cash and cash equivalents		(8	)		810			39			—			841
Cash and cash equivalents at beginning of period		8			3,067			140			—			3,215
Cash and cash equivalents at end of period	$	—		$	3,877		$	179		$	—		$	4,056

153

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	For the Year Ended December 31, 2009
Condensed Consolidating Statement of Cash Flows	Newmont Mining Corporation			Newmont USA			Other Subsidiaries			Eliminations			Newmont Mining Corporation Consolidated
Operating activities:
Net income (loss)	$	1,297		$	1,910		$	392		$	(1,506	)	$	2,093
Adjustments		75			683			(1,216	)		1,506			1,048
Net change in operating assets and liabilities		135			(400	)		38			—			(227	)
Net cash provided from (used in) continuing operations		1,507			2,193			(786	)		—			2,914
Net cash provided from discontinued operations		—			33			—			—			33
Net cash provided from (used in) operations		1,507			2,226			(786	)		—			2,947
Investing activities:
Additions to property, plant and mine development		—			(470	)		(1,299	)		—			(1,769	)
Acquisitions, net		(8	)		(11	)		(988	)		—			(1,007	)
Proceeds from sale of marketable securities		—			—			17			—			17
Purchases of marketable securities		—			—			(5	)		—			(5	)
Proceeds from sale of other assets		—			15			3			—			18
Other		—			—			(35	)		—			(35	)
Net cash used in investing activities		(8	)		(466	)		(2,307	)		—			(2,781	)
Financing activities:
Net borrowings (repayments)		1,722			(154	)		—			—			1,568
Net intercompany borrowings (repayments)		(4,298	)		953			3,345			—			—
Proceeds from stock issuance, net		1,278			—			—			—			1,278
Sale of noncontrolling interests		—			638			—			—			638
Acquisition of noncontrolling interests		—			—			(287	)		—			(287	)
Dividends paid to noncontrolling interests		—			(391	)		(3	)		—			(394	)
Dividends paid to common stockholders		(196	)		—			—			—			(196	)
Other		2			(48	)		11			—			(35	)
Net cash provided from (used in) financing activities of continuing operations		(1,492	)		998			3,066			—			2,572
Net cash used in financing activities of discontinued operations		—			(2	)		—			—			(2	)
Net cash provided from (used in) financing activities		(1,492	)		996			3,066			—			2,570
Effect of exchange rate changes on cash		1			1			42			—			44
Net change in cash and cash equivalents		8			2,757			15			—			2,780
Cash and cash equivalents at beginning of period		—			310			125			—			435
Cash and cash equivalents at end of period	$	8		$	3,067		$	140		$	—		$	3,215

154

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	At December 31, 2011
Condensed Consolidating Balance Sheet	Newmont Mining Corporation		Newmont USA			Other Subsidiaries			Eliminations			Newmont Mining Corporation Consolidated
Assets
Cash and cash equivalents	$	—	$	1,526		$	234		$	—		$	1,760
Trade receivables		—		205			95			—			300
Accounts receivable		1,415		3,447			264			(4,806	)		320
Investments		72		—			22			—			94
Inventories		—		333			381			—			714
Stockpiles and ore on leach pads		—		532			139			—			671
Deferred income tax assets		134		257			5			—			396
Other current assets		—		91			1,042			—			1,133
Current assets		1,621		6,391			2,182			(4,806	)		5,388
Property, plant and mine development, net		—		6,917			8,990			(26	)		15,881
Investments		—		29			1,443			—			1,472
Investments in subsidiaries		14,675		43			2,825			(17,543	)		—
Stockpiles and ore on leach pads		—		1,641			630			—			2,271
Deferred income tax assets		708		838			59			—			1,605
Other long-term assets		3,423		641			927			(4,134	)		857
Total assets	$	20,427	$	16,500		$	17,056		$	(26,509	)	$	27,474
Liabilities
Debt	$	514	$	165		$	10		$	—		$	689
Accounts payable		2,698		1,327			1,343			(4,807	)		561
Employee-related benefits		—		222			85			—			307
Income and mining taxes		—		45			205			—			250
Other current liabilities		450		459			3,186			(1,962	)		2,133
Current liabilities		3,662		2,218			4,829			(6,769	)		3,940
Debt		3,578		1			45			—			3,624
Reclamation and remediation liabilities		—		809			360			—			1,169
Deferred income tax liabilities		—		732			1,415			—			2,147
Employee-related benefits		5		355			99			—			459
Other long-term liabilities		567		61			3,895			(4,159	)		364
Total liabilities		7,812		4,176			10,643			(10,928	)		11,703
Equity
Preferred stock		—		—			61			(61	)		—
Common stock		784		—			—			—			784
Additional paid-in capital		8,127		3,050			5,702			(8,471	)		8,408
Accumulated other comprehensive income		652		(189	)		1,168			(979	)		652
Retained earnings		3,052		6,055			(1,744	)		(4,311	)		3,052
Newmont stockholders’ equity		12,615		8,916			5,187			(13,822	)		12,896
Noncontrolling interests		—		3,408			1,226			(1,759	)		2,875
Total equity		12,615		12,324			6,413			(15,581	)		15,771
Total liabilities and equity	$	20,427	$	16,500		$	17,056		$	(26,509	)	$	27,474

155

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	At December 31, 2010
Condensed Consolidating Balance Sheet	Newmont Mining Corporation		Newmont USA			Other Subsidiaries			Eliminations			Newmont Mining Corporation Consolidated
Assets
Cash and cash equivalents	$	—	$	3,877		$	179		$	—		$	4,056
Trade receivables		—		501			81			—			582
Accounts receivable		2,222		802			265			(3,201	)		88
Investments		—		72			41			—			113
Inventories		—		388			270			—			658
Stockpiles and ore on leach pads		—		513			104			—			617
Deferred income tax assets		—		170			7			—			177
Other current assets		—		77			885			—			962
Current assets		2,222		6,400			1,832			(3,201	)		7,253
Property, plant and mine development, net		—		5,364			7,562			(19	)		12,907
Investments		—		25			1,543			—			1,568
Investments in subsidiaries		12,295		35			1,909			(14,239	)		—
Stockpiles and ore on leach pads		—		1,347			410			—			1,757
Deferred income tax assets		638		690			109			—			1,437
Other long-term assets		2,675		496			584			(3,014	)		741
Total assets	$	17,830	$	14,357		$	13,949		$	(20,473	)	$	25,663
Liabilities
Debt	$	—	$	249		$	10		$	—		$	259
Accounts payable		355		1,269			1,996			(3,193	)		427
Employee-related benefits		—		222			66			—			288
Income and mining taxes		19		261			75			—			355
Other current liabilities		56		373			2,959			(1,970	)		1,418
Current liabilities		430		2,374			5,106			(5,163	)		2,747
Debt		3,991		135			56			—			4,182
Reclamation and remediation liabilities		—		676			308			—			984
Deferred income tax liabilities		—		513			975			—			1,488
Employee-related benefits		5		244			76			—			325
Other long-term liabilities		375		56			2,824			(3,034	)		221
Total liabilities		4,801		3,998			9,345			(8,197	)		9,947
Equity
Preferred stock		—		—			61			(61	)		—
Common stock		778		—			—			—			778
Additional paid-in capital		7,963		2,722			3,894			(6,300	)		8,279
Accumulated other comprehensive income		1,108		(75	)		1,180			(1,105	)		1,108
Retained earnings		3,180		4,850			(1,109	)		(3,741	)		3,180
Newmont stockholders’ equity		13,029		7,497			4,026			(11,207	)		13,345
Noncontrolling interests		—		2,862			578			(1,069	)		2,371
Total equity		13,029		10,359			4,604			(12,276	)		15,716
Total liabilities and equity	$	17,830	$	14,357		$	13,949		$	(20,473	)	$	25,663

156

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 31    COMMITMENTS AND CONTINGENCIES

General

The Company follows ASC guidance in determining its accruals and disclosures with respect to loss contingencies. Accordingly, estimated losses from loss contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable (greater than a 75% probability) that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.

Operating Segments

The Company’s operating segments are identified in Note 3. Except as noted in this paragraph, all of the Company’s commitments and contingencies specifically described in this Note 31 relate to the Corporate and Other reportable segment. The PT Newmont Minahasa Raya and PTNNT matters relate to the Asia Pacific reportable segment. The Yanacocha matters relate to the South America reportable segment.

Environmental Matters

The Company’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations so as to protect the public health and environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures.

Estimated future reclamation costs are based principally on legal and regulatory requirements. At December 31, 2011 and 2010, $1,070 and $904, respectively, were accrued for reclamation costs relating to currently producing mineral properties in accordance with asset retirement obligation guidance. The current portions of $47 and $46 at December 31, 2011 and 2010, respectively, are included in Other current liabilities.

In addition, the Company is involved in several matters concerning environmental obligations associated with former mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved. The Company believes that the related environmental obligations associated with these sites are similar in nature with respect to the development of remediation plans, their risk profile and the compliance required to meet general environmental standards. Based upon the Company’s best estimate of its liability for these matters, $170 and $144 were accrued for such obligations at December 31, 2011 and 2010, respectively. These amounts are included in Other current liabilities and Reclamation and remediation liabilities. Depending upon the ultimate resolution of these matters, the Company believes that it is reasonably possible that the liability for these matters could be as much as 122% greater or 8% lower than the amount accrued at December 31, 2011. The amounts accrued for these matters are reviewed periodically based upon facts and circumstances available at the time. Changes in estimates are recorded in Reclamation and remediation in the period estimates are revised.

157

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Details about certain of the more significant matters involved are discussed below.

Dawn Mining Company LLC (“Dawn”) — 51% Newmont Owned

Midnite Mine Site.    Dawn previously leased an open pit uranium mine, currently inactive, on the Spokane Indian Reservation in the State of Washington. The mine site is subject to regulation by agencies of the U.S. Department of Interior (the Bureau of Indian Affairs and the Bureau of Land Management), as well as the United States Environmental Protection Agency (“EPA”).

In 1991, Dawn’s mining lease at the mine was terminated. As a result, Dawn was required to file a formal mine closure and reclamation plan. The Department of Interior commenced an analysis of Dawn’s proposed plan and alternate closure and reclamation plans for the mine. Work on this analysis has been suspended indefinitely. In mid-2000, the mine was included on the National Priorities List under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”). In March 2003, the EPA notified Dawn and Newmont that it had thus far expended $12 on the Remedial Investigation/Feasibility Study (“RI/FS”) under CERCLA. In October 2005, the EPA issued the RI/FS on this property in which it indicated a preferred remedy. Newmont and Dawn filed comments on the RI/FS with the EPA in January 2006. On October 3, 2006, the EPA issued a final Record of Decision in which it formally selected the preferred remedy identified in the RI/FS.

On January 28, 2005, the EPA filed a lawsuit against Dawn and Newmont under CERCLA in the U.S. District Court for the Eastern District of Washington. The EPA has asserted that Dawn and Newmont are liable for reclamation or remediation work and costs at the mine. Dawn does not have sufficient funds to pay for the reclamation plan it proposed or for any alternate plan, or for any additional remediation work or costs at the mine.

On July 14, 2008, after a bench trial, the Court held Newmont liable under CERCLA as an “operator” of the Midnite Mine. The Court previously ruled on summary judgment that both the U.S. Government and Dawn were liable under CERCLA. On October 17, 2008, the Court issued its written decision in the bench trial. The Court found Dawn and Newmont jointly and severally liable under CERCLA for past and future response costs, and ruled that each of Dawn and Newmont are responsible to pay one-third of such costs. The Court also found the U.S. Government liable on Dawn’s and Newmont’s contribution claim, and ruled that the U.S. Government is responsible to pay one-third of all past and future response costs. In November 2008, all parties appealed the Court’s ruling. Also in November 2008, the EPA issued an Administrative Order pursuant to Section 106 of CERCLA ordering Dawn and Newmont to conduct water treatment, testing and other preliminary remedial actions. Newmont has initiated those preliminary remedial actions.

As of September 30, 2011, Newmont, Dawn, the Department of Interior, the EPA and the Department of Justice entered into a Consent Decree for remediation of the Midnite Mine site, and filed the Consent Decree with the U.S. District Court for the Eastern District of Washington. All parties moved to dismiss the appeal of the trial court findings. The Court elicited public comments regarding the Consent Decree and approved the Consent Decree on January 17, 2012. According to the Consent Decree: 1) Newmont and Dawn will design, construct and implement the cleanup plan selected by the EPA in 2006 for the Midnite Mine site; 2) Newmont and Dawn will reimburse the EPA for its costs associated with overseeing the work; 3) the Department of the Interior will contribute a lump sum of approximately $54 toward past EPA costs and future costs related to the cleanup of the Midnite Mine site; 4) Newmont and Dawn will be responsible for all other EPA oversight costs and Midnite Mine site cleanup costs; and 5) Newmont will post a surety bond for work at the site. At December 31, 2011, Newmont had accrued approximately $65 for the Midnite Mine site reclamation.

158

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Dawn Mill Site.    Dawn also owns a uranium mill site facility, located on private land near Ford, Washington, which is subject to state and federal regulation. In late 1999, Dawn sought and later received approval from the State of Washington for a revised closure plan that expedites the reclamation process at the site. The currently approved plan for the site is guaranteed by Newmont.

Newmont USA Limited — 100% Newmont Owned

Grey Eagle Mine Site.    By letter dated September 3, 2002, the EPA notified Newmont that the EPA had expended $3 in response costs to address environmental conditions associated with a historic tailings pile located at the Grey Eagle Mine site near Happy Camp, California, and requested that Newmont pay those costs. The EPA has identified four potentially responsible parties, including Newmont. Newmont does not believe it has any liability for environmental conditions at the Grey Eagle Mine site, and intends to vigorously defend any formal claims by the EPA. Newmont cannot reasonably predict the likelihood or outcome of any future action against it arising from this matter.

Ross-Adams Mine Site.    By letter dated June 5, 2007, the U.S. Forest Service notified Newmont that it had expended approximately $0.3 in response costs to address environmental conditions at the Ross-Adams mine in Prince of Wales, Alaska, and requested Newmont USA Limited pay those costs and perform an Engineering Evaluation/Cost Analysis (“EE/CA”) to assess what future response activities might need to be completed at the site. Newmont intends to vigorously defend any formal claims by the EPA. Newmont has agreed to perform the EE/CA. Newmont cannot reasonably predict the likelihood or outcome of any future action against it arising from this matter.

PT Newmont Minahasa Raya (“PTNMR”) — 80% Newmont Owned

On March 22, 2007, an Indonesian non-governmental organization named Wahana Lingkungan Hidup Indonesia (“WALHI”) filed a civil suit against PTNMR, the Newmont subsidiary that operated the Minahasa mine in Indonesia, and Indonesia’s Ministry of Energy & Mineral Resources and Ministry of Environment, alleging pollution from the government-approved and permitted disposal of mill tailings into Buyat Bay, and seeking a court order requiring PTNMR to fund a 25-year monitoring program in relation to Buyat Bay. In December 2007, the court ruled in PTNMR’s favor and found that WALHI’s allegations of pollution in Buyat Bay were without merit. In March 2008, WALHI appealed this decision to the Indonesian High Court. On January 27, 2010, the Indonesian High Court upheld the December 2007 ruling in favor of PTNMR. On May 17, 2010, WALHI filed an appeal of the January 27, 2010 Indonesian High Court ruling seeking review from the Indonesian Supreme Court. Independent sampling and testing of Buyat Bay water and fish, as well as area residents, conducted by the World Health Organization and the Australian Commonwealth Scientific and Industrial Research Organization, confirm that PTNMR has not polluted the Buyat Bay environment, and, therefore, has not adversely affected the fish in Buyat Bay or the health of nearby residents. The Company remains steadfast that it has not caused pollution or health problems.

Other Legal Matters

Minera Yanacocha S.R.L. (“Yanacocha”) — 51.35% Newmont Owned

Choropampa.    In June 2000, a transport contractor of Yanacocha spilled approximately 151 kilograms of elemental mercury near the town of Choropampa, Peru, which is located 53 miles (85 kilometers) southwest of the Yanacocha mine. Elemental mercury is not used in Yanacocha’s operations but is a by-product of gold mining and was sold to a Lima firm for use in medical

159

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

instruments and industrial applications. A comprehensive health and environmental remediation program was undertaken by Yanacocha in response to the incident. In August 2000, Yanacocha paid under protest a fine of 1,740,000 Peruvian soles (approximately $0.5) to the Peruvian government. Yanacocha has entered into settlement agreements with a number of individuals impacted by the incident. As compensation for the disruption and inconvenience caused by the incident, Yanacocha entered into agreements with and provided a variety of public works in the three communities impacted by this incident. Yanacocha cannot predict the likelihood of additional expenditures related to this matter.

Additional lawsuits relating to the Choropampa incident were filed against Yanacocha in the local courts of Cajamarca, Peru, in May 2002 by over 900 Peruvian citizens. A significant number of the plaintiffs in these lawsuits entered into settlement agreements with Yanacocha prior to filing such claims. In April 2008, the Peruvian Supreme Court upheld the validity of these settlement agreements, which the Company expects to result in the dismissal of all claims brought by previously settled plaintiffs. Yanacocha has also entered into settlement agreements with approximately 350 additional plaintiffs. The claims asserted by approximately 200 plaintiffs remain. In 2011, Yanacocha was served with 22 complaints alleging grounds to nullify the settlements entered between Yanacocha and the plaintiffs. Yanacocha has answered the complaints and will continue to vigorously defend its position. Neither the Company nor Yanacocha can reasonably estimate the ultimate loss relating to such claims.

PT Newmont Nusa Tenggara (“PTNNT”) — 31.5% Newmont Owned

Under the Batu Hijau Contract of Work, beginning in 2006 and continuing through 2010, a portion of PTNNT’s shares were required to be offered for sale, first, to the Indonesian government or, second, to Indonesian nationals, equal to the difference between the following percentages and the percentage of shares already owned by the Indonesian government or Indonesian nationals (if such number is positive): 23% by March 31, 2006; 30% by March 31, 2007; 37% by March 31, 2008; 44% by March 31, 2009; and 51% by March 31, 2010. As PT Pukuafu Indah (“PTPI”), an Indonesian national, owned a 20% interest in PTNNT at all relevant times, in 2006, a 3% interest was required to be offered for sale and, in each of 2007 through 2010, an additional 7% interest was required to be offered (for an aggregate 31% interest). The price at which such interests were offered for sale to the Indonesian parties was the fair market value of such interest considering PTNNT as a going concern, as agreed with the Indonesian government.

In accordance with the Contract of Work, an offer to sell a 3% interest was made to the Indonesian government in 2006 and an offer for an additional 7% interest was made in each of 2007, 2008, 2009 and 2010. While the central government declined to participate in the 2006 and 2007 offers, local governments in the area in which the Batu Hijau mine is located expressed interest in acquiring shares, as did various Indonesian nationals. After disagreement with the government over whether the government’s first right to purchase had expired and receipt of Notices of Default from the government claiming breach and threatening termination of the Contract of Work, on March 3, 2008, the Indonesian government filed for international arbitration as provided under the Contract of Work, as did PTNNT.

An international arbitration panel (the “Panel”) was appointed to resolve these claims and other claims that had arisen in relation to divestment and on March 31, 2009, the Panel issued its final award and decision on the matter. In its decision, the Panel determined that PTNNT’s foreign shareholders had not complied with the divestiture procedure required by the Contract of Work in 2006 and 2007, but the Panel ruled that the Indonesian government was not entitled to immediately terminate the

160

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Contract of Work and rejected the Indonesian government’s claim for damages. The Panel granted PTNNT 180 days from the date of notification of the final award to effect transfer of the 2006 3% interest and the 2007 7% interest in PTNNT to the local governments or their respective nominees. The Panel also applied a 180-day cure period to the 2008 7% interest, requiring that PTNNT effect the offer of the 2008 7% interest to the Indonesian government or its nominee within such 180-day period, and ensure the transfer of such shares if, after agreement on price, the Indonesian government invoked its right of first refusal under the Contract of Work. On July 14, 2009, the Company reached agreement with the Indonesian government on the price of the 2008 7% interest and the 2009 7% interest and effected the reoffer to the Indonesian government at this newly agreed price. In November and December 2009, sale agreements were concluded pursuant to which the 2006, 2007 and 2008 shares were transferred to PT Multi Daerah Bersaing (“PTMDB”), the nominee of the local governments, and the 2009 shares were transferred to PTMDB in February 2010, resulting in PTMDB owning a 24% interest in PTNNT.

On December 17, 2010, the Ministry of Energy & Mineral Resources, acting on behalf of the Indonesian government, accepted the offer to acquire the final 7% interest in PTNNT. Subsequently, the Indonesian government designated Pusat Investasi Pemerintah (“PIP”), an agency of the Ministry of Finance, as the entity that will buy the final stake. On May 6, 2011, PIP and the foreign shareholders entered into a definitive agreement for the sale and purchase of the final 7% divestiture stake. Closing of the transaction is pending receipt of approvals from certain Indonesian government ministries. Subsequent to signing the agreement, a disagreement arose between the Ministry of Finance and the Indonesian parliament in regard to whether parliamentary approval was needed to allow PIP to make the share purchase. In October 2011, press reports stated that Indonesia’s Supreme Audit Agency had determined that parliamentary approval is required. The Ministry of Finance continues to dispute the need for parliamentary approval and has taken steps to have the matter resolved by Indonesia’s Constitutional Court. Further disputes may arise in regard to the divestiture of the 2010 shares.

As part of the negotiation of the sale agreements with PTMDB, the parties executed an operating agreement (the “Operating Agreement”) under which each recognizes the rights of the Company and Sumitomo to apply their operating standards to the management of PTNNT’s operations, including standards for safety, environmental stewardship and community responsibility. The Operating Agreement became effective upon the completion of the sale of the 2009 shares in February 2010 and will continue for so long as the Company and Sumitomo own more shares of PTNNT than PTMDB. If the Operating Agreement terminates, then the Company may lose control over the applicable operating standards for Batu Hijau and will be at risk for operations conducted in a manner that either detracts from value or results in safety, environmental or social standards below those adhered to by the Company and Sumitomo.

In the event of any future disputes under the Contract of Work or Operating Agreement, there can be no assurance that the Company would prevail in any such dispute and any termination of such contracts could result in substantial diminution in the value of the Company’s interests in PTNNT.

Effective as of January 1, 2011, the local government in the region where the Batu Hijau mine is located commenced the enforcement of local regulations that purport to require PTNNT to pay additional taxes based on revenue and the value of PTNNT’s contracts. In addition, the regulations purport to require PTNNT to obtain certain export-related documents from the regional government for purposes of shipping copper concentrate. PTNNT is required to and has obtained all export related-documents in compliance with the laws and regulations of the central government. PTNNT believes that the new regional regulations are not enforceable as they expressly contradict higher level

161

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Indonesian laws that set out the permissible taxes that can be imposed by a regional government and all effective export requirements. PTNNT’s position is supported by Indonesia’s Ministry of Energy & Mineral Resources, Ministry of Trade, and the provincial government. To date, PTNNT has not been forced to comply with these new contradictory regional regulations. On February 4, 2011, PTNNT filed legal proceedings seeking to have the regulations declared null and void because they conflict with the laws of Indonesia. Subsequently, the Ministry of Home Affairs issued a decree declaring these local regulations to be contrary to Indonesian law and thus unenforceable. Further disputes with the local government could arise in relation to these regulations. PTNNT intends to vigorously defend its position in this dispute.

Additionally, in September 2011, WALHI brought an administrative law claim against Indonesia’s Ministry of Environment to challenge the May 2011 renewal of PTNNT’s submarine tailings permit. PTNNT and the regional government of KSB (“KSB”) filed separate applications for intervention into the proceedings, both of which were accepted by the Administrative Court. KSB intervened on the side of WALHI, and PTNNT joined on the side of the Ministry of Environment. PTNNT will defend its submarine tailings permit and is confident that the Ministry of Environment acted properly in renewing PTNNT’s permit.

Newmont Mining Corporation claim relating to PTNNT divestiture

The Company is aware of a lawsuit apparently filed by Indonesian citizens living in the province of Nusa Tenggara Barat against Indonesia’s Ministry of Finance and other government officials (as defendants) and against PTNNT and the Company (as co-defendants). Plaintiffs claim that the purchase by the central government of the final 7% divestiture stake in PTNNT violates, or would violate, their human rights. PTNNT’s alleged liability appears to arise from being a party involved in the process of divestiture, and the Company’s status as a holding company of PTNNT. The allegations regarding liability are vague and unclear. Plaintiffs seek various relief, including an order requiring the defendants and co-defendants to transfer the final 7% stake to the regional government of Nusa Tenggara Barat and a payment of approximately $247 in damages. The Company considers that there has been no proper service of process, that there is lack of jurisdiction, and that the claims pertaining to it are entirely without merit.

PT Pukuafu Indah Litigation

In October 2009, PTPI filed a lawsuit in the Central Jakarta District Court against PTNNT and the Indonesian government seeking to cancel the March 2009 arbitration award pertaining to the manner in which divestiture of shares in PTNNT should proceed (refer to the discussion of PTNNT above for the arbitration results). On October 11, 2010, the District Court ruled in favor of PTNNT and the Indonesian government finding, among other things, that PTPI lacks standing to contest the validity of the arbitration award. PTPI has filed a notice of appeal of the court’s ruling.

Subsequent to its initial claim, PTPI filed numerous additional lawsuits, three of which have been withdrawn, against Newmont Indonesia Limited (“NIL”) and Nusa Tenggara Mining Corporation (“NTMC”), a subsidiary of Sumitomo, in the South Jakarta District Court. Fundamentally, the cases all relate to PTPI’s contention that it owns, or has rights to own, the shares in PTNNT that have or will be divested to fulfill the requirements of the PTNNT Contract of Work and the March 2009 arbitration award. PTPI also makes various other allegations, including alleged rights in or to the Company’s or Sumitomo’s non-divestiture shares in PTNNT, and PTPI asserts claims for significant damages allegedly arising from NIL’s and NTMC’s unlawful acts in transferring the divestiture shares to a third

162

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

party. On November 30, 2010, the South Jakarta District Court rendered a decision in favor of PTPI in one of the cases which included an order that NIL/NTMC transfer 31% of PTNNT shares to PTPI and pay PTPI $26 in damages and certain monetary penalties. The order is not final and binding until the appeal process is completed. NIL and NTMC appealed the decision. On June 28, 2011, the South Jakarta District Court ruled in favor of NIL and NTMC in one of PTPI’s lawsuits contending that PTPI has rights in or to NIL’s and NTMC’s non-divestiture shares. In the Company’s view, this ruling further conflicts with the November 30, 2010 ruling finding that PTPI has rights in the divestiture shares. PTPI has filed a notice of appeal.

In January 2010, PTPI also filed a lawsuit against PTNNT’s President Director, Mr. Martiono Hadianto, alleging wrongful acts associated with the arbitration, including failure to properly share certain information. The South Jakarta District Court issued a decision partially in favor of PTPI against the PTNNT President Director, requiring the production of arbitration documents. The PTNNT President Director has appealed the decision which is nonbinding until the appeal process is completed.

Newmont, Sumitomo and PTNNT’s management believe that all of PTPI’s claims in these matters are without merit and constitute a material breach of a written release agreement executed by PTPI in 2009, in which it and its shareholders committed to cease prosecution of all then-pending lawsuits and not to initiate new proceedings, in conjunction with Newmont’s provision of financing to PTPI in late 2009.

In August 2010, NIL and NVL USA Limited (“NVL”) commenced an arbitration against PTPI in the Singapore International Arbitration Centre, as provided in relevant financing agreements, seeking declarations that PTPI has violated the release agreement by failing to dismiss its Indonesian lawsuits, that PTPI is in breach of the November 2009 loan facility and related agreements, and that NIL and NVL are entitled to damages arising from PTPI’s and its shareholders’ conduct.

On October 1, 2010, NIL and NVL requested, based upon the release agreement, that the arbitral tribunal issue an interim order requiring PTPI and its shareholders to discontinue the various Indonesian court proceedings and refrain from bringing additional lawsuits. On October 15, 2010, the tribunal issued an order granting NIL and NVL’s request. The order of the tribunal restrains PTPI and its agents from “proceeding with or continuing with or assisting or participating in the prosecution of the Indonesian [s]uits” and from commencing additional proceedings relating to the same subject matter as the Indonesian lawsuits. NIL and NVL are in the process of enforcing the interim award in Indonesian and Singapore courts but it is not known the extent to which the courts will enforce the award or whether PTPI and its shareholders will, in any event, abide by the award and any related court orders. PTPI and its shareholders have commenced proceedings in Singapore court to contest enforcement of the interim award.

On April 7, 2011, the arbitral tribunal issued a final award, while keeping the proceedings open to allow NIL and NVL to seek further relief as necessary, finding PTPI and its shareholders in breach of various provisions of the financing agreements, including the release agreement. The tribunal, for the second time, ordered PTPI and its agents to restrain from proceeding with the Indonesian lawsuits or filing new lawsuits relating to the same subject matter. In addition, the tribunal ordered PTPI and other shareholder defendants, collectively, to pay more than $11 in damages, costs and expenses. The Company has aggressively sought enforcement of the interim award in Indonesian and Singapore courts and will continue to do so with regard to the April 7, 2011 final award.

163

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

The Company intends to continue vigorously defending the PTPI lawsuits and pursuing its claims against PTPI.

NWG Investments Inc. v. Fronteer Gold Inc.

In April 2011, Newmont acquired Fronteer Gold Inc. (“Fronteer”). Fronteer has been named as a defendant in a lawsuit filed in New York State Supreme Court by NWG Investments Inc. (“NWG”).

Fronteer acquired NewWest Gold Corporation (“NewWest Gold”) in September 2007. At the time of that acquisition, NWG owned approximately 86% of NewWest Gold and an individual named Jacob Safra owned or controlled 100% of NWG. Prior to its acquisition of NewWest Gold, Fronteer entered into a June 2007 lock-up agreement with NWG providing that, among other things, NWG would support Fronteer’s acquisition of NewWest Gold. At that time, Fronteer owned approximately 42% of Aurora Energy Resources Inc. (“Aurora”), which, among other things, had a uranium exploration project in Labrador, Canada.

NWG contends that, during the negotiations leading up to the lock-up agreement, Fronteer represented to NWG that Aurora would commence uranium mining in Labrador by 2013, that this was a firm date, that Fronteer was not aware of any obstacle to doing so, that Aurora faced no serious environmental issues in Labrador and that Aurora’s competitors faced greater delays in commencing uranium mining. NWG further contends that it entered into the lock-up agreement and agreed to support Fronteer’s acquisition of NewWest Gold in reliance upon these purported representations. On October 11, 2007, less than three weeks after the Fronteer-NewWest Gold transaction closed, a member of the Nunatsiavut Assembly introduced a motion calling for the adoption of a moratorium on uranium mining in Labrador. On April 8, 2008, the Nunatsiavut Assembly adopted a three-year moratorium on uranium mining in Labrador. NWG contends that Fronteer was aware during the negotiations of the NWG/Fronteer lock-up agreement that the Nunatsiavut Assembly planned on adopting this moratorium and that its adoption would preclude Aurora from commencing uranium mining by 2013, but Fronteer nonetheless fraudulently induced NWG to enter into the lock-up agreement.

NWG has not yet filed or served a complaint upon Fronteer or Newmont. Newmont intends to defend this matter, but cannot reasonably predict the outcome.

Other Commitments and Contingencies

Tax contingencies are provided for in accordance with ASC income tax guidance (see Note 10).

The Company has minimum royalty obligations on one of its producing mines in Nevada for the life of the mine. Amounts paid as a minimum royalty (where production royalties are less than the minimum obligation) in any year are recoverable in future years when the minimum royalty obligation is exceeded. Although the minimum royalty requirement may not be met in a particular year, the Company expects that over the mine life, gold production will be sufficient to meet the minimum royalty requirements. Minimum royalty payments payable are $28 in 2012 through 2016 and $223 thereafter.

As part of its ongoing business and operations, the Company and its affiliates are required to provide surety bonds, bank letters of credit and bank guarantees as financial support for various purposes, including environmental reclamation, exploration permitting, workers compensation programs and other general corporate purposes. At December 31, 2011 and December 31, 2010,

164

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

there were $1,354 and $1,191, respectively, of outstanding letters of credit, surety bonds and bank guarantees. The surety bonds, letters of credit and bank guarantees reflect fair value as a condition of their underlying purpose and are subject to fees competitively determined in the market place. The obligations associated with these instruments are generally related to performance requirements that the Company addresses through its ongoing operations. As the specific requirements are met, the beneficiary of the associated instrument cancels and/or returns the instrument to the issuing entity. Certain of these instruments are associated with operating sites with long-lived assets and will remain outstanding until closure. Generally, bonding requirements associated with environmental regulation are becoming more restrictive. However, the Company believes it is in compliance with all applicable bonding obligations and will be able to satisfy future bonding requirements, through existing or alternative means, as they arise.

Newmont is from time to time involved in various legal proceedings related to its business. Except in the above-described proceedings, management does not believe that adverse decisions in any pending or threatened proceeding or that amounts that may be required to be paid by reason thereof will have a material adverse effect on the Company’s financial condition or results of operations.

NOTE 32    UNAUDITED SUPPLEMENTARY DATA

Quarterly Data

The following is a summary of selected quarterly financial information (unaudited):

	2011
	Three Months Ended
	March 31		June 30			September 30		December 31
Sales	$	2,465	$	2,384		$	2,744	$	2,765
Gross profit(1)	$	1,255	$	1,174		$	1,460	$	1,423
Income (loss) from continuing operations(2)	$	514	$	523		$	493	$	(1,028	)
Loss from discontinued operations(2)		—		(136	)		—		—
Net income (loss)(2)	$	514	$	387		$	493	$	(1,028	)
Income (loss) per common share Basic:
Continuing operations	$	1.04	$	1.06		$	1.00	$	(2.08	)
Discontinued operations		—		(0.28	)		—		—
	$	1.04	$	0.78		$	1.00	$	(2.08	)
Diluted:
Continuing operations	$	1.03	$	1.04		$	0.98	$	(2.02	)
Discontinued operations		—		(0.27	)		—		—
	$	1.03	$	0.77		$	0.98	$	(2.02	)
Weighted average common shares (millions)
Basic		493		494			494		495
Diluted		501		501			504		510
Cash dividends declared per common share	$	0.15	$	0.20		$	0.30	$	0.35
Closing price of common stock	$	54.58	$	53.97		$	62.95	$	60.01

165

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

	2010
	Three Months Ended
	March 31		June 30		September 30		December 31
Sales	$	2,242	$	2,153	$	2,597	$	2,548
Gross profit(1)	$	1,136	$	1,061	$	1,447	$	1,402
Income (loss) from continuing operations(2)	$	546	$	382	$	537	$	840
Loss from discontinued operations(2)		—		—		—		(28	)
Net income (loss)(2)	$	546	$	382	$	537	$	812
Income (loss) per common share Basic:
Continuing operations	$	1.11	$	0.78	$	1.09	$	1.71
Discontinued operations		—		—		—		(0.06	)
	$	1.11	$	0.78	$	1.09	$	1.65
Diluted:
Continuing operations	$	1.11	$	0.77	$	1.07	$	1.67
Discontinued operations		—		—		—		(0.06	)
	$	1.11	$	0.77	$	1.07	$	1.61
Weighted average common shares (millions)
Basic		491		492		493		493
Diluted		493		499		502		504
Cash dividends declared per common share	$	0.10	$	0.10	$	0.15	$	0.15
Closing price of common stock	$	50.93	$	61.74	$	62.81	$	61.43

⁽¹⁾  Sales less Costs applicable to sales, Amortization and Reclamation and remediation.

⁽²⁾  Attributable to Newmont stockholders.

Significant after-tax items were as follows:

Fourth quarter 2011:    (i) a $1,609 ($3.25 per share, basic) loss related to impairment of Hope Bay; (ii) a $9 ($0.02 per share, basic) net gain on asset sales and (iii) a $4 ($0.01 per share, basic) loss related to impairment of other assets;

Third quarter 2011:    (i) a $151 ($0.31 per share, basic) loss related to impairment of assets and (ii) a $9 ($0.02 per share, basic) net gain on asset sales;

Second quarter 2011:    (i) a $136 ($0.28 per share, basic) loss from discontinued operations; (ii) a $65 ($0.13 per share, basic) income tax benefit from internal restructuring; (iii) a $32 ($0.06 per share, basic) net gain on asset sales and (iv) a $18 ($0.03 per share, basic) loss related to Fronteer acquisition costs;

First quarter 2011:    none;

Fourth quarter 2010:    (i) a $264 ($0.54 per share, basic) income tax benefit from internal restructuring;

166

NEWMONT MINING CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in millions, except per share, per ounce and per pound amounts)

Third quarter 2010:    none;

Second quarter 2010:    (i) a $7 ($0.01 per share, basic) net gain on asset sales;

First quarter 2010:    (i) a $127 ($0.26 per share, basic) income tax benefit from internal restructuring; (ii) a $25 ($0.05 per share, basic) net gain on asset sales and (iii) a $13 ($0.03 per share, basic) PTNNT community contribution;

NOTE 33    SUBSEQUENT EVENTS

On February 15, 2012, the Company’s 2012 Convertible Senior Notes matured, which resulted in a cash payment of approximately $640 related to principal, accrued interest and conversion premiums. The Company elected to pay the conversion premium with cash, and therefore no common shares were issued.

167

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A. CONTROLS AND PROCEDURES

During the fiscal period covered by this report, the Company’s management, with the participation of the Chief Executive Officer and Chief Financial Officer of the Company, carried out an evaluation of the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). Based on such evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the period covered by this report, the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the required time periods and are designed to ensure that information required to be disclosed in its reports is accumulated and communicated to the Company’s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

There has been no change in the Company’s internal control over financial reporting during the most recent fiscal quarter that has materially affected, or that is reasonably likely to materially affect, the Company’s internal control over financial reporting.

Management’s report on internal control over financial reporting and the attestation report on management’s assessment are included in Item 8 of this annual report on Form 10-K.

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Information concerning Newmont’s directors, Audit Committee, Compliance with Section 16(a) of the Exchange Act and Code of Ethics is contained in Newmont’s definitive Proxy Statement, filed pursuant to Regulation 14A promulgated under the Securities Exchange Act of 1934 for the 2012 Annual Meeting of Stockholders and is incorporated herein by reference. Information concerning Newmont’s executive officers is set forth under Item 4A of this report.

ITEM 11. EXECUTIVE COMPENSATION

Information concerning this item is contained in Newmont’s definitive Proxy Statement, filed pursuant to Regulation 14A promulgated under the Securities Exchange Act of 1934 for the 2012 Annual Meeting of Stockholders and is incorporated herein by reference.

168

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Information concerning this item is contained in Newmont’s definitive Proxy Statement, filed pursuant to Regulation 14A promulgated under the Securities Exchange Act of 1934 for the 2012 Annual Meeting of Stockholders and incorporated herein by reference.

Equity Compensation Plan Information

The following table sets forth at December 31, 2011 information regarding Newmont’s Common Stock that may be issued under Newmont’s equity compensation plans:

Plan Category	Number of Securities to be issued  upon exercise of outstanding options, warrants and rights (a)			Weighted-average exercise price of outstanding options, warrants and rights (b) (1)		Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c)
Equity compensation plans approved by security holders (2)		6,349,704			48.40		8,809,298	(3)
Equity compensation plans not approved by security holders		938	(4)		28.56		—
TOTAL		6,350,642			48.40		8,809,298

⁽¹⁾  The weighted average exercise price does not take into account the shares issuable upon vesting of director stock units and restricted stock units.

⁽²⁾  Newmont’s 2005 Stock Incentive Plan was approved by the stockholders on April 27, 2005. A maximum of 20,000,000 shares of Newmont’s Common Stock were authorized to be issued under this plan. Out of this maximum number of shares, no more than 10,000,000 shares may be awarded as restricted stock and other stock based awards and no more than 1,000,000 shares may be awarded as non-employee director stock awards. In addition, no more than 1,000,000 shares may be awarded without agreements providing for vesting in full in three years or more, subject to certain exceptions such as shares subject to performance-based conditions.

⁽³⁾  Securities remaining available for future issuance under the 2005 Stock Incentive Plan. No additional grants or awards will be made under any of the Company’s other plans.

⁽⁴⁾  Shares of common stock issuable upon exercise of outstanding options granted under the 1999 Employees Stock Plan. Options have a term of 10 years and vest in periods ranging from two to four years.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Information concerning this item is contained in Newmont’s definitive Proxy Statement, filed pursuant to Regulation 14A promulgated under the Securities Exchange Act of 1934 for the 2012 Annual Meeting of Stockholders and incorporated herein by reference.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES

Information concerning this item is contained in Newmont’s definitive Proxy Statement, filed pursuant to Regulation 14A promulgated under the Securities Exchange Act of 1934 for the 2012 Annual Meeting of Stockholders and incorporated herein by reference.

169

PART IV

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

The following documents are filed as a part of this report:

(a) Financial Statements

The Consolidated Financial Statements, together with the report thereon of PricewaterhouseCoopers LLP dated February 23, 2012, are included as part of Item 8, Financial Statements and Supplementary Data, commencing on page 82 above.

	Page
Report of Independent Registered Public Accounting Firm		92
Statements of Consolidated Income		93
Statements of Consolidated Comprehensive Income (Loss)		94
Statements of Consolidated Cash Flows		95
Consolidated Balance Sheets		96
Statements of Consolidated Changes in Equity		97
Notes to Consolidated Financial Statements		98

(b) Exhibits

Reference is made to the Exhibit Index beginning on page E-1 hereof.

170

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.

NEWMONT MINING CORPORATION
By:	/S/    STEPHEN P. GOTTESFELD
	Stephen P. Gottesfeld
	Vice President, General Counsel and Secretary

February 23, 2012

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on February 23, 2012.

Signature	Title
* Richard T. O’Brien	President, Chief Executive Officer and Director     (Principal Executive Officer)
* Russell Ball	Executive Vice President and Chief Financial Officer     (Principal Financial Officer)
* David Ottewell	Vice President and Controller (Principal Accounting     Officer)
Glen A. Barton*	Director
Bruce R. Brook*	Director
Vincent A. Calarco*	Director
Joseph A. Carrabba*	Director
Noreen Doyle*	Director
Veronica M. Hagen*	Director
Michael S. Hamson*	Director
Jane Nelson*	Director
John B. Prescott*	Director
Donald C. Roth*	Director
Simon R. Thompson*	Director

*By:	/S/     STEPHEN P. GOTTESFELD
	Stephen P. Gottesfeld
	Attorney-in-Fact

S-1

EXHIBIT INDEX

Exhibit Number		Description
1.1	—	Underwriting Agreement relating to the sale of the Shares, dated January 28, 2009 between Newmont, Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. as representatives of the several underwriters named therein. Incorporated by reference to Exhibit 1.1 to Registrant’s Form 8-K filed with the Securities and Exchange Commission on February 3, 2009.
1.2	—	Underwriting Agreement relating to the sale of the 2012 Notes, dated January 28, 2009 between Newmont, Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. as representatives of the several underwriters named therein. Incorporated by reference to Exhibit 1.2 to Registrant’s Form 8-K filed with the Securities and Exchange Commission on February 3, 2009.
1.3	—	Underwriting Agreement dated September 15, 2009, among Registrant, Newmont USA Limited and Deutsche Bank Securities Inc., and UBS Securities LLC, as representatives of the several Underwriters named therein. Incorporated by reference to Exhibit 1.1 to Registrant’s Form 8-K filed with the Securities and Exchange Commission on September 18, 2009.
2.1	—	Agreement dated October 8, 2007, among Registrant, Newmont Mining B.C. Limited and Miramar Mining Corporation. Incorporated by reference to Exhibit 2.1 to Registrant’s Form 8-K filed with the Securities and Exchange Commission on October 10, 2007 and Exhibit 7.3 to Registrant’s Schedule 13D filed with the Securities and Exchange Commission on October 9, 2007.
2.2	—	Acquisition Agreement, dated November 30, 2007, between Registrant and Franco-Nevada Corporation. Incorporated by reference to Exhibit 99.1 to Registrant’s Form 8-K/A filed with the Securities and Exchange Commission on December 26, 2007.
2.3	—	Arrangement Agreement, dated as of February 3, 2011, by and among Registrant, Fronteer Gold Inc. and Pilot Gold Inc. Incorporated by reference to Exhibit 2.1 to Registrant’s Form 8-K, filed with the Securities and Exchange Commission on February 8, 2011.
3.1	—	Certificate of Incorporation of Registrant, restated as of October 28, 2009. Incorporated by reference to Exhibit 3.1 to Registrant’s Form 10-Q for the period September 30, 2009, and filed with the Securities and Exchange Commission on October 29, 2009.
3.2		Certificate of Designations of the New Special Voting Stock. Incorporated by reference to Exhibit 3.3 to the Registrant’s Registration Statement on Form S-3, filed with the Securities and Exchange Commission on December 14, 2011.
3.3		Certificate of Elimination of the Special Voting Stock. Incorporated by reference to Exhibit 3.2 to the Registrant’s Form 8-K filed with the Securities and Exchange Commission on December 19, 2011.
3.4	—	By-laws of the Registrant as amended and restated effective December 8, 2010. Incorporated by reference to Exhibit 3.1 to Registrant’s Form 8-K filed with the Securities and Exchange Commission on December 10, 2010.
4.1	—	Indenture, dated as of March 22, 2005, among Registrant, Newmont USA Limited and Citibank, N.A. Incorporated by reference to Exhibit 4.1 to Registrant’s Form 8-K filed with the Securities and Exchange Commission on March 22, 2005.
4.2	—	Form of 5.875% Note due 2035 issued pursuant to Indenture, dated as of March 22, 2005, among Registrant, Newmont USA Limited and Citibank, N.A. Incorporated by reference to Exhibit 4.2 to Registrant’s Form 8-K filed with the Securities and Exchange Commission on March 22, 2005.

1

Exhibit Number		Description
4.3	—	Indenture, dated as of July 17, 2007, among Registrant, Newmont USA Limited and The Bank of New York Trust Company, N.A. relating to 1.250% Convertible Senior Notes due 2014. Incorporated by reference to Exhibit 4.1 to Registrant’s Quarterly Report on Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
4.4	—	Indenture, dated as of July 17, 2007, among Registrant, Newmont USA Limited and The Bank of New York Trust Company, N.A relating to 1.625% Convertible Senior Notes due 2017. Incorporated by reference to Exhibit 4.2 to Registrant’s Quarterly Report on Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
4.5	—	Indenture, dated as of February 3, 2009, by and among Registrant, Newmont USA Limited and The Bank of New York Mellon Trust Company, N.A., as trustee (including form of 3.00% Convertible Senior Note due 2012). Incorporated by reference to Exhibit 4.1 of Registrant’s Form 8-K filed with the Securities and Exchange Commission on February 3, 2009.
4.6	—	Indenture, dated September 18, 2009, among Registrant, Newmont USA Limited and The Bank of New York Mellon Trust Company, N.A., as trustee. Incorporated by reference to Exhibit 4.1 to Registrant’s Form 10-Q for the period September 30, 2009, and filed with the Securities and Exchange Commission on October 29, 2009.
4.7	—	First Supplemental Indenture, dated September 18, 2009, among Registrant, Newmont USA Limited and The Bank of New York Mellon Trust Company, N.A., as trustee (including form of 5.125% Senior Note due 2019, form of 6.250% Senior Note due 2039, and forms of Guaranty for the 2019 Notes and 2039 Notes) . Incorporated by reference to Exhibit 4.2 to Registrant’s Form 10-Q for the period September 30, 2009, and filed with the Securities and Exchange Commission on October 29, 2009.
4.8	—	Pass Through Trust Agreement dated as of July 15, 1994, between Newmont Gold Company (now known as “Newmont USA Limited”) and The First National Bank of Chicago relating to the Pass Through Certificates, Series 1994-A1. (The front cover of this Exhibit indicates the material differences between such Exhibit and the substantially similar (except for price-related information) Pass-Through Agreement between Newmont Gold Company (now known as “Newmont USA Limited”) and The First National Bank of Chicago relating to the Pass-Through Certificates, Series 1994-A2.) Incorporated by reference to Exhibit 4.1 to Newmont Gold Company’s Quarterly Report on Form 10-Q for the period September 30, 1994.
4.9	—	Lease dated as of September 30, 1994, between Newmont Gold Company (now known as “Newmont USA Limited”) and Shawmut Bank Connecticut, National Association relating to Trust No. 1 and a 75% undivided interest in Newmont Gold Company’s refractory gold ore treatment facility. (The front cover of this Exhibit indicates the material differences between such Exhibit and the substantially similar (except for price-related information) entered into on the same date relating to the remaining 25% undivided interest in the facility.) Incorporated by reference to Exhibit 4.2 to Newmont Gold Company’s Quarterly Report on Form 10-Q for the period September 30, 1994.
4.10	—	Trust Indenture and Security Agreement dated as of July 15, 1994, between Shawmut Bank Connecticut, National Association and The First National Bank of Chicago relating to Trust No. 1 and a 75% undivided interest in Newmont Gold Company’s (now known as “Newmont USA Limited”) refractory gold ore treatment facility. (The front cover of this Exhibit indicates the material differences between such Exhibit and the substantially similar (except for price-related information) entered into on the same date relating to the remaining 25% undivided interest in the facility.) Incorporated by reference to Exhibit 4.3 to Newmont Gold Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 1994.

2

Exhibit Number		Description
4.11	—	See footnote(1).
10.1	—	Savings Equalization Plan, amended and restated, of Newmont USA Limited, a wholly owned subsidiary of the Registrant, effective December 31, 2008 Incorporated by reference to Exhibit 10.1 to Registrant’s Annual Report on Form 10-K for the year ended December 31, 2008.
10.2	—	Pension Equalization Plan, amended and restated, of Newmont USA Limited, a wholly owned subsidiary of the Registrant, effective December 31, 2008 Incorporated by reference to Exhibit 10.2 to Registrant’s Annual Report on Form 10-K for the year ended December 31, 2008.
10.3	—	1996 Employees Stock Plan amended and restated effective as of March 17, 1999. Incorporated by reference to Exhibit 10(d) to Newmont Mining Corporation’s Annual Report on Form 10-K for the year ended December 31, 1998.
10.4	—	1999 Employees Stock Plan. Incorporated by reference to Exhibit 10(e) to Newmont Mining Corporation’s Annual Report on Form 10-K for the year ended December 31, 1998.
10.5	—	2005 Stock Incentive Plan, amended and restated effective October 26, 2005. Incorporated by reference to Exhibit 10.1 of Registrant’s Form 8-K filed with the Securities and Exchange Commission on October 31, 2005.
10.6	—	Form of Award Agreement used for Executive Officers to grant stock options pursuant to Registrant’s 1996 Employees Stock Plan. Incorporated herein by reference to Exhibit 99.2 of Registrant’s Form 8-K filed with the Securities and Exchange Commission on December 13, 2004.
10.7	—	Form of Award Agreement used for Executive Officers to grant stock options pursuant to Registrant’s 1999 Employees Stock Plan. Incorporated herein by reference to Exhibit 10.1 of Registrant’s Form 8-K filed with the Securities and Exchange Commission on March 2, 2005.
10.8	—	Form of Award Agreement used for Executive Officers to grant stock options pursuant to Registrant’s 2005 Stock Incentive Plan. Incorporated herein by reference to Exhibit 10.2 of Registrant’s Form 8-K filed with the Securities and Exchange Commission on October 26, 2005.
10.9	—	Form of Award Agreement used for Executive Officers to grant restricted stock units pursuant to the Registrant’s 2005 Stock Incentive Plan. Incorporated by reference to Exhibit 10.1 to Registrant’s Form 10-Q for the period March 31, 2009, and filed with the Securities and Exchange Commission on April 30, 2009.
10.10	—	Award Agreement for Richard O’Brien dated October 31, 2008 to grant restricted stock pursuant to Registrant’s 2005 Stock Incentive Plan. Incorporated by reference to Exhibit 10.13 to Registrant’s Annual Report on Form 10-K for the year ended December 31, 2008.
10.11	—	Award Agreement for Richard O’Brien dated October 31, 2008 to grant stock options pursuant to Registrant’s 2005 Stock Incentive Plan. Incorporated by reference to Exhibit 10.14 to Registrant’s Annual Report on Form 10-K for the year ended December 31, 2008.
10.12	—	Form of Award Agreement used for non-employee directors to grant director stock units pursuant to the 2005 Stock Incentive Plan. Incorporated herein by reference to Exhibit 10.1 of Registrant’s Form 8-K filed with the Securities and Exchange Commission on June 17, 2005.
10.13	—	Annual Incentive Compensation Program of Registrant, as amended and restated effective January 1, 2011. Incorporated by reference to Exhibit 10.2 to Registrant’s Form 10-Q for the period June 30, 2011, filed with the Securities and Exchange Commission on July 29, 2011.

3

Exhibit Number		Description
10.14	—	Employee Performance Incentive Compensation Program of Registrant, as amended and restated effective January 1, 2011. Incorporated by reference to Exhibit 10.3 to Registrant’s Form 10-Q for the period June 30, 2011, filed with the Securities and Exchange Commission on July 29, 2011.
10.15	—	Senior Executive Compensation Program of Registrant, as amended and restated effective January 1, 2011. Incorporated by reference to Exhibit 10.4 to Registrant’s Form 10-Q for the period June 30, 2011, filed with the Securities and Exchange Commission on July 29, 2011.
10.16	—	Amended and Restated Officers’ Death Benefit Plan effective January 1, 2004 of Newmont USA Limited, a wholly owned subsidiary of Registrant. Incorporated herein by reference to Exhibit 10.1 to Registrant’s Form 8-K filed with the Securities and Exchange Commission on December 22, 2004.
10.17	—	Executive Change of Control Plan, amended and restated effective December 31, 2008, of Newmont USA Limited, a wholly owned subsidiary of Registrant. Incorporated by reference to Exhibit 10.20 to Registrant’s Annual Report on Form 10-K for the year ended December 31, 2008.
10.18	—	Credit Agreement dated as of May 20, 2011 among Newmont Mining Corporation, the lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent, incorporated by reference to Exhibit 10.1 to Registrant’s Form 10-Q for the period June 30, 2011, filed with the Securities and Exchange Commission on July 29, 2011.
10.19	—	Letter Agreement dated May 3, 2010 between Registrant and Robert J. Miller. Incorporated herein by reference to Exhibit 10.1 to Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2010.
10.20	—	Purchase Agreement, dated as of July 11, 2007, by and among Newmont Mining Corporation, Newmont USA Limited and J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Representatives of the several Initial Purchasers listed in Schedule I thereto. Incorporated by reference as Exhibit 10.1 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.21	—	Confirmation of Convertible Note Hedge, dated as of July 11, 2007, between Newmont Mining Corporation and JPMorgan Chase Bank, National Association, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.2 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.22	—	Confirmation of Convertible Note Hedge, dated as of July 11, 2007, between Newmont Mining Corporation and JPMorgan Chase Bank, National Association, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.3 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.23	—	Confirmation of Convertible Note Hedge, dated as of July 11, 2007, between Newmont Mining Corporation and Citibank, N.A. (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.4 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007. 2007.
10.24	—	Confirmation of Convertible Note Hedge, dated as of July 11, 2007, between Newmont Mining Corporation and Citibank, N.A. (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.5 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.25	—	Confirmation of Convertible Note Hedge, dated as of July 11, 2007, between Newmont Mining Corporation and UBS AG, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.6 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.

4

Exhibit Number		Description
10.26	—	Confirmation of Convertible Note Hedge, dated as of July 11, 2007, between Newmont Mining Corporation and UBS AG, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.7 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.27	—	Confirmation of Convertible Note Hedge, dated as of July 11, 2007, between Newmont Mining Corporation and Deutsche Bank AG, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.8 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.28	—	Confirmation of Convertible Note Hedge, dated as of July 11, 2007, between Newmont Mining Corporation and Deutsche Bank AG, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.9 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.29	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 11, 2007, between Newmont Mining Corporation and JPMorgan Chase Bank, National Association, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.10 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.30	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 11, 2007, between Newmont Mining Corporation and JPMorgan Chase Bank, National Association, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.11 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.31	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 11, 2007, between Newmont Mining Corporation and Citibank, N.A. (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.12 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.32	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 11, 2007, between Newmont Mining Corporation and Citibank, N.A. (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.13 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.33	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 11, 2007, between Newmont Mining Corporation and UBS AG, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.14 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.34	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 11, 2007, between Newmont Mining Corporation and UBS AG, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.15 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.35	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 11, 2007, between Newmont Mining Corporation and Deutsche Bank AG, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.16 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.

5

Exhibit Number		Description
10.36	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 11, 2007, between Newmont Mining Corporation and Deutsche Bank AG, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.17 to Registrant’s on Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.37	—	Confirmation of Convertible Note Hedge, dated as of July 13, 2007, between Newmont Mining Corporation and JPMorgan Chase Bank, National Association, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.18 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.38	—	Confirmation of Convertible Note Hedge, dated as of July 13, 2007, between Newmont Mining Corporation and JPMorgan Chase Bank, National Association, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.19 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.39	—	Confirmation of Convertible Note Hedge, dated as of July 13, 2007, between Newmont Mining Corporation and Citibank, N.A. (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.20 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.40	—	Confirmation of Convertible Note Hedge, dated as of July 13, 2007, between Newmont Mining Corporation and Citibank, N.A. (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.21 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.41	—	Confirmation of Convertible Note Hedge, dated as of July 13, 2007, between Newmont Mining Corporation and UBS AG, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.22 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.42	—	Confirmation of Convertible Note Hedge, dated as of July 13, 2007, between Newmont Mining Corporation and UBS AG, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.23 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.43	—	Confirmation of Convertible Note Hedge, dated as of July 13, 2007, between Newmont Mining Corporation and Deutsche Bank AG, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.24 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.44	—	Confirmation of Convertible Note Hedge, dated as of July 13, 2007, between Newmont Mining Corporation and Deutsche Bank AG, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.25 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.45	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 13, 2007, between Newmont Mining Corporation and JPMorgan Chase Bank, National Association, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.26 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.46	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 13, 2007, between Newmont Mining Corporation and JPMorgan Chase Bank, National Association, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.27 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.

6

Exhibit Number		Description
10.47	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 13, 2007, between Newmont Mining Corporation and Citibank, N.A. (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.28 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.48	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 13, 2007, between Newmont Mining Corporation and Citibank, N.A. (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.29 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.49	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 13, 2007, between Newmont Mining Corporation and UBS AG, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.30 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.50	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 13, 2007, between Newmont Mining Corporation and UBS AG, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.31 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.51	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 13, 2007, between Newmont Mining Corporation and Deutsche Bank AG, London Branch (with respect to 2014 Notes). Incorporated by reference as Exhibit 10.32 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.52	—	Confirmation of Convertible Note Warrant Transaction, dated as of July 13, 2007, between Newmont Mining Corporation and Deutsche Bank AG, London Branch (with respect to 2017 Notes). Incorporated by reference as Exhibit 10.33 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.53	—	Office Space and Office Services Agreement between Newmont (USA) Limited and Wayne W. Murdy effective January 1, 2008. Incorporated by reference as Exhibit 10.37 to Registrant’s Form 10-Q for the period June 30, 2007, filed with the Securities and Exchange Commission on August 2, 2007.
10.54	—	Contract of Work dated December 2, 1986, between the Government of the Republic of Indonesia and PT Newmont Nusa Tenggara. Incorporated by reference as Exhibit 10.1 to Registrant’s Form 10-Q filed with the Securities and Exchange Commission on July 24, 2008.
10.55	—	Settlement and Release Deed dated March 2011 between Timothy Netscher and Newmont Mining Services Pty Ltd, incorporated by reference to Exhibit 10.1 to Registrant’s Form 10-Q for the period March 31, 2011, filed with the Securities and Exchange Commission on April 21, 2011.
10.56	—	Executive Severance Plan of Newmont 2011, effective October 26, 2011. Incorporated by reference to Exhibit 10.1 to Registrant’s Form 10-Q for the period September 30, 2011, filed with the Securities and Exchange Commission on October 27, 2011.
10.57	—	2012 Executive Change of Control Plan, effective January 1, 2012, of Newmont USA Limited, a wholly owned subsidiary of Registrant, filed herewith.
10.58	—	Amendment One to the December 31, 2008 Executive Change of Control Plan of Newmont, amended and restated by Newmont USA Limited, a wholly owned subsidiary of Registrant, effective January 1, 2012; Amendment Two to the December 31, 2008 Executive Change of Control Plan of Newmont, amended and restated by Newmont USA Limited, a wholly owned subsidiary of Registrant, effective January 1, 2012, filed herewith.

7

Exhibit Number		Description
10.59	—	Amendment One to the December 31, 2008 restated Savings Equalization Plan of Newmont USA Limited, a wholly owned subsidiary of the Registrant, effective January 1, 2010; Amendment Two to the December 31, 2008 restated Savings Equalization Plan of Newmont USA Limited, a wholly owned subsidiary of the Registrant, effective January 1, 2011, filed herewith.
10.60	—	2012 Form of Award Agreement used for Executive Officers to grant restricted stock units, pursuant to Registrant’s 2005 Stock Incentive Plan, filed herewith.
10.61	—	2012 Form of Award Agreement used for Executive Officers to grant restricted stock units, pursuant to Registrant’s 2005 Stock Incentive Plan, filed herewith.
12.1	—	Statement re Computation of Ratio of Earnings to Fixed Charges, filed herewith.
21	—	Subsidiaries of Newmont Mining Corporation, filed herewith.
23.1	—	Consent of PricewaterhouseCoopers LLP, filed herewith.
24	—	Power of Attorney, filed herewith.
31.1	—	Certification Pursuant to Rule 13A-14 or 15D-14 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 signed by the Principal Executive Officer, filed herewith.
31.2	—	Certification Pursuant to Rule 13A-14 or 15D-14 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 signed by the Principal Financial Officer, filed herewith.
32.1	—	Statement Required by 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed by Principal Executive Officer, furnished herewith
32.2	—	Statement Required by 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed by Chief Financial Officer, furnished herewith.
95	—	Information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, filed herewith.
101	—	101.INS XBRL Instance 101.SCH XBRL Taxonomy Extension Schema 101.CAL XBRL Taxonomy Extension Calculation 101.LAB XBRL Taxonomy Extension Labels 101.PRE XBRL Taxonomy Extension Presentation 101.DEF XBRL Taxonomy Extension Definition

(1) In reliance upon Item 601(b)(4)(iii) of Regulation S-K, various instruments defining the rights of holders of long-term debt of the Newmont Mining Corporation are not being filed herewith because the total of securities authorized under each such instrument does not exceed 10% of the total assets of Newmont Mining Corporation. Newmont Mining Corporation hereby agrees to furnish a copy of any such instrument to the Commission upon request.

8

EX-10.57

Exhibit 10.57

2012

EXECUTIVE CHANGE OF CONTROL PLAN

OF NEWMONT

Effective January 1, 2012

TABLE OF CONTENTS

		Page
INTRODUCTION			1
ARTICLE I
DEFINITIONS			1
ARTICLE II ELIGIBILITY
Section 2.01.	Eligibility Requirements		6
Section 2.02.	Duration of Participation		6
ARTICLE III BENEFITS
Section 3.01.	Separation Benefits		7
Section 3.02.	Timing and Amount of Separation Benefits		7
Section 3.03.	Other Benefits Payable		8
Section 3.04.	Reduction for Excise Tax		8
Section 3.05.	Coordination With Governmental Plans		9
Section 3.06.	Payment Due at the Time of Death		9
ARTICLE IV TERMINATION OF BENEFITS
Section 4.01.	Termination of Benefits Generally		10
ARTICLE V
CONTINUATION OF HEALTH CARE COVERAGE			10
ARTICLE VI
PROTECTION OF MEDICAL PRIVACY			10
ARTICLE VII ADMINISTRATION COMMITTEE
Section 7.01.	Appointment of the Administration Committee		10
Section 7.02.	Responsibilities of the Administration Committee		11
Section 7.03.	Organization of the Administration Committee		11
Section 7.04.	Indemnification of Administration Committee Members		11
Section 7.05.	Benefits Claims and Appeals		11

2012 Executive Change of Control Plan of Newmont

Effective January 1, 2012

i

ARTICLE VIII

MISCELLANEOUS

Section 8.01.	Full Settlement	12
Section 8.02.	Confidential Information	13
Section 8.03.	Unfunded Plan Status	13
Section 8.04.	Employment Status	13
Section 8.05.	Validity and Severability	13
Section 8.06.	Governing Law	13
Section 8.07.	Right of Offset	13
Section 8.08.	Conformance With Applicable Laws	14
Section 8.09.	Payments Due Minors or Incapacitated Persons	14
Section 8.10.	Distribution Delay for Specified Employees	14
ARTICLE IX DURATION, AMENDMENT AND TERMINATION
Section 9.01.	Duration	14
Section 9.02.	Amendment or Termination	14
Section 9.03.	Procedure for Extension, Amendment or Termination	14

2012 Executive Change of Control Plan of Newmont

Effective January 1, 2012

ii

2012

EXECUTIVE CHANGE OF CONTROL PLAN

OF NEWMONT

INTRODUCTION

The Board of Directors of Newmont USA Limited (“Newmont”) recognizes that, as is the case with many publicly held corporations, there exists the possibility of a Change of Control with respect to its parent company, Newmont Mining Corporation (“Newmont Mining”). This possibility and the uncertainty it creates may result in the loss or distraction of executives of Newmont and its Affiliated Entities to the detriment of Newmont Mining and its shareholders.

The Board considers the avoidance of such loss and distraction to be essential to protecting and enhancing the best interests of Newmont and Newmont Mining and its shareholders. The Board also believes that when a Change of Control is perceived as imminent, or is occurring, the Board should be able to receive and rely on disinterested service from executives regarding the best interests of Newmont and Newmont Mining and its shareholders without concern that executives might be distracted or concerned by the personal uncertainties and risks created by the perception of an imminent or occurring Change of Control.

In addition, the Board believes that it is consistent with Newmont’s and its Affiliated Entities’ employment practices and policies and in the best interests of Newmont Mining and its shareholders to treat fairly executives whose employment terminates in connection with or following a Change of Control.

Accordingly, the Board has determined that appropriate steps should be taken to assure Newmont and its Affiliated Entities of the continued employment and attention and dedication to duty of its executives and to seek to ensure the availability of their continued service, notwithstanding the possibility, threat or occurrence of a Change of Control.

Therefore, in order to fulfill the above purposes, the 2012 Executive Change of Control Plan of Newmont (the “Plan”) has been adopted effective January 1, 2012.

ARTICLE I

DEFINITIONS

The following definitions shall apply to the Plan.

“Administration Committee” means the committee appointed by the Board or its delegate in writing which serves in accordance with Article VII.

“Affiliated Entity” means any corporation or other entity, now or hereafter formed, that is or shall become affiliated with the Employer, either directly or indirectly, through stock ownership or control, and which is (a) included in the controlled group of corporations (within the meaning of Code Section 1563(a) without regard to Code Section 1563(a)(4) and Code Section 1563(e)(3)(C)) in which the Employer is also included or (b) included in the group of entities (whether or not incorporated) under common control (within the meaning of Code Section 414(c)) in which the Employer is also included.

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“Annual Bonus” means the aggregate annual cash bonus that a Participant is eligible to earn pursuant to the Senior Executive Compensation Program of the Employer or the Annual Incentive Compensation Program of the Employer or any Affiliated Entity or any successor or replacement plans or payroll practices. “Annual Bonus” shall not include any amount in respect of any stock-based compensation (including stock options, deferred stock, restricted stock, restricted stock units and performance stock units), incentive payments pursuant to the Employee Incentive Compensation Program or the equity components of the Senior Executive Compensation Program or any successor based programs.

“Annual Pay” means with respect to each Salaried Employee the sum of:

(i) the Salaried Employee’s Annual Salary, and

(ii) Target Annual Bonus.

“Annual Salary” means the Salaried Employee’s regular annual base salary immediately prior to his or her Separation from Service (including premium pay) and pre-tax deferrals under the Retirement Savings Plan of Newmont or similar plans (including the Savings Equalization Plan of Newmont). “Annual Salary” shall not include any extra pay for foreign service or foreign assignment, hardship pay, overtime, moving allowances, the cost of goods and services, danger pay, any amount in respect of any stock-based compensation (including stock options, deferred stock, restricted stock, restricted stock units and performance stock units), incentive payments pursuant to the Employee Incentive Compensation Program or the equity components of the Senior Executive Compensation Program or any successor equity based programs.

“Board” means the Board of Directors of Newmont USA Limited.

“Cause” means, with respect to any Salaried Employee and as determined by the Board or its delegate:

(i) the willful and continued failure of the Salaried Employee to perform substantially the Salaried Employee’s duties with the Employer or one of its Affiliated Entities (other than any such failure resulting from incapacity due to physical or mental illness) or his failure to follow policies, directions or the Employer’s code of conduct, after a written demand for substantial performance is delivered to the Salaried Employee by the Board or its delegate. Such written demand shall identify the manner in which the Board or its delegate believes that the Salaried Employee has not substantially performed the Salaried Employee’s duties. Notwithstanding the foregoing, written demand for substantial performance shall not be required if the Board or its delegate determines that immediate action, including termination of the Salaried Employee, is necessary to avoid potential injury or harm to the Employer or any person; or

(ii) the engaging by the Salaried Employee in illegal conduct or gross negligence or willful misconduct which is potentially injurious to the Employer or any Affiliated Entity, provided that if the Salaried Employee acts in accordance with an authorized written opinion of the Employer’s or an Affiliated Entity’s legal counsel, such action will not constitute “Cause” under this definition; or

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(iii) any dishonest or fraudulent activity by the Salaried Employee or the reasonable belief by the Employer of the Salaried Employee’s breach of any contract, agreement or representation with the Employer or any Affiliated Entity. In the event “Cause” is determined to exist by the Employer, and the Salaried Employee had received payments under the Plan or otherwise been credited with amounts under the Plan, the Employer shall be entitled to recover such amounts from the Salaried Employee or offset such amount from any other amounts owed by the Employer to the Salaried Employee.

“Change of Control” means the occurrence of any of the following events:

(i) The acquisition in one or a series of transactions by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (x) the then outstanding shares of common stock of Newmont Mining (the “Outstanding Company Common Stock”) or (y) the combined voting power of the then outstanding voting securities of Newmont Mining entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change of Control: (A) any acquisition directly from Newmont Mining other than an acquisition by virtue of the exercise of a conversion privilege, unless the security being so converted was itself acquired directly from Newmont Mining, (B) any acquisition by Newmont Mining, (C) any acquisition by any employee benefits plan (or related trust) sponsored or maintained by Newmont Mining or any corporation controlled by Newmont Mining or (D) any acquisition by any corporation pursuant to a transaction which complies with clauses (A), (B) and (C) of paragraph (iii) below; or

(ii) Individuals who, as of the Effective Date, constitute the Board of Directors of Newmont Mining (“Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors of Newmont Mining; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by Newmont Mining’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors of Newmont Mining; or

(iii) Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of Newmont Mining or an acquisition of assets of another entity (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and

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entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors (or for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity which as a result of such transaction owns Newmont Mining or all or substantially all of Newmont Mining’s assets either directly or through one or more subsidiaries (a “Parent Company”)) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no person or entity (excluding Newmont Mining, any entity resulting from such Business Combination, any employee benefit plan (or related trust) of Newmont Mining or its Affiliate or any entity resulting from such Business Combination or, if reference was made to equity ownership of any Parent Company for purposes of determining whether clause (A) above is satisfied in connection with the applicable Business Combination, such Parent Company) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock (or, for a non-corporate entity, equivalent securities of the entity) resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such entity entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body) of the entity, unless such ownership resulted solely from ownership of securities of Newmont Mining, prior to the Business Combination and (C) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination (or, if reference was made to equity ownership of any Parent Company for purposes of determining whether clause (A) above is satisfied in connection with the applicable Business Combination, of the Parent Company) were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board of Directors of Newmont Mining, providing for such Business Combination; or

(iv) Approval by the stockholders of Newmont Mining of a complete liquidation or dissolution of Newmont Mining.

“Code” means the Internal Revenue Code of 1986, as amended.

“Date of Termination” means the date on which a Salaried Employee ceases to be an Employee of the Employer.

“Disability” means a condition that causes the Employee to terminate employment with the Employer and/or all participating Employers and the Employee has immediately begun receiving benefits from the Disability Plan of Newmont.

“Effective Date” means January 1, 2012.

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“Employee” means an employee of an Employer who satisfied the conditions for eligibility of the Plan and who is not (a) an individual who performs services for the Employer under an agreement, contract or arrangement (which may be written, oral or evidenced by the Employer’s payroll practice) between the Employer and the individual or with any other organization that provides the services of the individual to the Employer pursuant to which the individual is initially classified or treated as an independent contractor or whose remuneration for services has not been treated initially as subject to the withholding of federal income tax pursuant to Code Section 3401, or who is otherwise treated as an employee of an entity other than the Employer, irrespective of whether he or she is treated as an employee of the Employer under common-law employment principles or pursuant to the provisions of Code Section 414(m), 414(n) or 414(o), even if the individual is subsequently reclassified as a common-law employee as a result of a final decree of a court of competent jurisdiction, the settlement of an administrative or judicial proceeding or a determination by the Internal Revenue Service, the Department of the Treasury or the Department of Labor, (b) an individual who is a leased employee, (c) a temporary employee, or (d) an individual covered by a collective bargaining agreement.

“Employer” means Newmont USA Limited and any Affiliated Entities.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

“Good Reason” means with respect to any Salaried Employee, without such Salaried Employee’s written consent:

(i) any material reduction in the Salaried Employee’s Annual Salary or annual target bonus opportunity, as in effect during the 120-day period immediately preceding the Change of Control (or as such amounts may be increased from time to time);

(ii) the Employer requiring the Salaried Employee to relocate his or her principal place of business to a location which is more than 50 miles from his or her previous principal place of business and such relocation is a material change in geographic location;

(iii) any material failure by the Employer to comply with and satisfy its obligations under the Plan and any other agreement under which the Salaried Employee provides services; or

(iv) the assignment to the Salaried Employee, without the Salaried Employee’s consent, of any duties representing a material diminution in the Employee’s position immediately prior to such assignment (including status, office and reporting requirements) or any other action resulting in the material diminution of the Employee’s position, authority, duties or responsibilities.

The Salaried Employee must notify his or her immediate supervisor or the Administrative Committee or its delegate within 90 days of having knowledge of the occurrence of any of the above and his or her intent to treat such occurrence as “Good Reason.” The Employer shall have 30 days from the date of receipt of such notice to remedy the condition. After the expiration of such 30 day period without remedy by the Employer, “Good Reason” shall be deemed to exist through the second anniversary of the event giving rise to “Good Reason”.

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“Participant” means an individual who satisfies the eligibility requirements set forth in Section 2.01.

“Plan” means the 2012 Executive Change of Control Plan of Newmont.

“Salaried Employee” means an Employee who is employed by an Employer as a salaried paid Employee. “Salaried Employee” includes former Salaried Employees where the context requires.

“Separation Benefits” means the benefits described in Section 3.02 that are provided to qualifying Salaried Employees under the Plan.

“Separation from Service” means the termination of the Salaried Employee’s employment with the Employer, as defined under Treasury Regulation Section 1.409A-1(h) and such other applicable regulations as promulgated pursuant to Code Section 409A.

“Specified Employee” means any Employee or former Employee (including any deceased employee) who at any time during the Plan Year that includes the determination date was an officer of the Employer having an annual compensation greater than $130,000 (as adjusted under Section 416(i)(1) of the Code), a five-percent owner of the Employer or a one-percent owner of the Employer having annual compensation of more than $150,000. No more than 50 Employees shall be treated as officers. For this purpose, annual compensation means compensation within the meaning of Section 415(c)(3) of the Code. The determination of who is a Specified Employee will be made in accordance with Section 416(i) of the Code and in accordance with policies and procedures adopted by the Employer.

“Target Annual Bonus” means the Annual Bonus that the Salaried Employee would have received for the year in which his or her Date of Termination occurs if the target goals had been achieved.

ARTICLE II

ELIGIBILITY

Section 2.01. Eligibility Requirements. Each Salaried Employee hired or who becomes eligible for the Plan on or after the Effective Date and who is not eligible for any other change of control plan sponsored by the Employer who is at a pay grade level of 109 or above (or such equivalent pay grades (if Employer adopts a different pay grade system or nomenclature), as determined in the sole discretion of Employer) shall be eligible for the Plan.

Section 2.02. Duration of Participation. A Salaried Employee shall only cease to be a Participant in the Plan as a result of an amendment or termination of the Plan in accordance with Article X, or when he ceases to be a Salaried Employee of any Employer, unless, at the time he

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ceases to be a Salaried Employee, the Salaried Employee is entitled to payment of a Separation Benefit as provided in the Plan or there has been an event or occurrence constituting Good Reason that would enable the Salaried Employee to terminate his employment and receive a Separation Benefit. A Salaried Employee entitled to payment of a Separation Benefit or any other amounts under the Plan shall remain a Participant in the Plan until the full amount of the Separation Benefit and any other amounts payable under the Plan have been paid to the Salaried Employee.

ARTICLE III

BENEFITS

Section 3.01. Separation Benefits. A Salaried Employee shall be entitled to Separation Benefits as set forth in Section 3.02 below if, at any time following a Change of Control and prior to the second anniversary of the Change of Control, the Salaried Employee’s employment is (i) terminated by the Employer for any reason other than Cause, death or Disability or (ii) terminated by the Salaried Employee for Good Reason.

Section 3.02. Timing and Amount of Separation Benefits. If a Salaried Employee’s employment is terminated in circumstances entitling such Salaried Employee to Separation Benefits pursuant to Section 3.01, the Employer shall provide to such Salaried Employee, as soon as administratively practicable following the Date of Termination, but not later than 30 days following the Salaried Employee’s Date of Termination, a lump sum cash payment as set forth in subsection (a) below, and shall provide to the Salaried Employee the continued benefits as set forth in subsection (b) below and the outplacement services set forth in subsection (c) below. For purposes of determining the benefits set forth in subsections (a) and (b), if the termination of the Salaried Employee’s employment is for Good Reason based upon a reduction of the Salaried Employee’s Annual Salary or opportunity to earn an Annual Bonus, any such reduction shall be ignored.

(a) Cash Lump Sum. The cash lump sum referred to in this Section shall be the aggregate of the following amounts:

(i) the sum of (A) any Annual Salary owed to the Salaried Employee as of the Date of Termination, (B) the product of (1) the Salaried Employee’s Target Annual Bonus and (2) a fraction the numerator of which is the number of days in such year through the Date of Termination and the denominator of which is 365;

(ii) an amount equal to two times Annual Pay or, with respect to individuals specified by the Board, three times Annual Pay (and any such specification by the Board shall be irrevocable upon and following a Change of Control); and

(b) Employee Benefits. A Salaried Employee who is eligible to receive benefits under this Plan will continue to have access to coverage under the Employer’s medical, vision, prescription drug and dental plan (if and as such plans then exist) for a

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period equal to the COBRA period under Code Section 4980B. The continuing coverage will be the same coverage that the Salaried Employee had at the time of termination of employment, subject to any changes to the Employer’s benefit plan that affect then current employees. The Salaried Employee’s cost shall be the same as the cost of an eligible active Employee throughout the coverage period. In addition the Participant shall be eligible to continue life insurance benefits for a period of the same length that are no less favorable than those to which the Salaried Employee and his spouse and eligible dependents were receiving immediately prior to the Date of Termination. The Salaried Employee maybe required to complete any administrative forms and comply with any applicable COBRA rules and procedures prescribed by the Administration Committee or its delegate.

(c) Outplacement Services. The Employer shall, at its sole expense as incurred, provide the Salaried Employee with reasonable outplacement services for a position that is commensurate with the position previously held. The scope and provider of the outplacement services shall be consistent with the Employer’s practices during the one-year period immediately preceding the Change of Control. Any expenses incurred in connection with such outplacement services must be incurred no later than the end of the first tax year following the tax year in which the Salaried Employee’s Separation from Service occurred.

Section 3.03. Other Benefits Payable. To the extent not previously paid or provided, the Employer shall timely pay or provide (or cause to be paid or provided) to a Salaried Employee entitled to the Separation Benefits any other amounts or benefits required to be paid or provided to the Salaried Employee or which the Salaried Employee is eligible to receive under any plan, program, policy or practice or contract or agreement of the Employer and its Affiliated Entities, but excluding any severance pay or pay in lieu of notice required to be paid to such Salaried Employee under applicable law or any other severance pay plan or policy of the Employer.

Section 3.04. Reduction for Excise Tax.

(a) In the event any payment or distribution by Newmont or an Affiliated Entity to or for the benefit of a Salaried Employee (whether paid or payable or distributed or distributable pursuant to the terms of this Plan or otherwise, (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), the following shall apply:

(i) the payment or distribution to the Salaried Employee shall be calculated by reducing the payment or distribution to the amount at which the Excise Tax shall not apply; and

(ii) the value of the payment or distribution determined under paragraph (i) shall be compared to the value of the payment or distribution without any reduction taking into consideration the Salaried Employee’s liability for the Excise Tax; and

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(iii) the Salaried Employee will receive the benefit described in (i) or (ii), whichever is greater.

(b) The reduction of the amounts payable hereunder, if applicable, shall be made by first reducing the cash lump sum payments under Section 3.02(a), then by reducing the duration of the outplacement services provided under Section 3.02(c), and finally by reducing the duration of the benefits provided under Section 3.02(b). For purposes of reducing the Payments, only amounts payable under this Plan (and no other Payments) shall be reduced.

(c) All determinations required to be made under this Section, including whether and when a reduction is required and the amount of such reduction and the assumptions (which shall be reasonable and based on all available information) to be utilized in arriving at such determination, shall be made by a nationally recognized accounting firm selected by the pre-Change of Control Board or its delegate (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Employer and the Salaried Employee within a reasonable time after receipt of notice from the Salaried Employee that there has been a Payment, or such earlier time as is requested by the Employer. In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group effecting the Change of Control, the Salaried Employee shall appoint another nationally recognized accounting firm to make the determinations required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Employer. Any determination by the Accounting Firm shall be binding upon the Employer and the Salaried Employee.

Section 3.05. Coordination With Governmental Plans. In the event an eligible Salaried Employee qualifies for benefits under both the Plan and another plan or arrangement offered by a governmental entity due to the Salaried Employee’s termination of employment with an Employer or Affiliated Entity, the Salaried Employee shall receive the greater of the benefit provided by the Plan or the benefit provided by the governmental entity, but not both. In the event the benefit provided through the governmental entity’s plan or program is less than the benefit provided under the Plan, such benefit shall offset the amount payable to the Salaried Employee under the Plan. Notwithstanding the foregoing, however, the Employer shall not offset any benefits payable pursuant to this Plan to the extent such offset would result in the imposition of taxes or penalties pursuant to Code Section 409A and the Treasury Regulations issued thereunder.

Section 3.06. Payment Due at the Time of Death. In the event a Salaried Employee who is entitled to benefits pursuant to the Plan dies prior to the full payment of such benefits, any unpaid benefits shall be paid to his beneficiary designated to receive life insurance proceeds under the Group Life and Accidental Death and Dismemberment Plan of Newmont. In the event there is no such beneficiary designated, any amounts owed to the deceased Salaried Employee pursuant to the Plan shall be paid to his estate. Amounts payable pursuant to this Section shall be paid as soon as practicable following the Salaried Employee’s death, and in no event later than 75 days following the Salaried Employee’s death. Upon a Salaried Employee’s death, eligible individuals may elect to continue medical, dental and prescription drug benefits, subject to Section 3.02(b), to the extent such benefits would otherwise continue under COBRA and only to the extent such benefits will not be subject to Code Section 409A.

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ARTICLE IV

TERMINATION OF BENEFITS

Section 4.01. Termination of Benefits Generally. Benefits for a Salaried Employee shall terminate when any of the following occurs:

(a) The Salaried Employee becomes ineligible for benefits under the Plan;

(b) The Plan is terminated; or

(c) All benefits a terminated Salaried Employee is eligible to receive are paid or provided.

ARTICLE V

CONTINUATION OF HEALTH CARE COVERAGE

Continuation of health benefit coverage described in Section 3.02(b) shall be permitted only in accordance with the applicable health plan. No continuation of coverage is otherwise permitted under this Plan.

ARTICLE VI

PROTECTION OF MEDICAL PRIVACY

The Plan is generally not subject to the Health Insurance Portability and Accountability Act (“HIPAA”). HIPAA shall apply only with respect to medical benefits described in Section 3.02(b) in accordance with the applicable health plan.

ARTICLE VII

ADMINISTRATION COMMITTEE

Section 7.01. Appointment of the Administration Committee. The Board or its delegate shall appoint the members of the Administration Committee who may be, but need not be, officers, directors or employees of Newmont Mining or Affiliated Entities. The members of the Administration Committee shall hold office at the pleasure of the Board and shall serve without compensation. In the event of an impending Change of Control, the Administration Committee may appoint a person (or persons) independent of the third party effectuating the Change of Control to be the Administration Committee effective upon the occurrence of a Change of Control (the “Independent Committee”), and the Independent Committee shall not be removed or modified following a Change of Control.

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Section 7.02. Responsibilities of the Administration Committee. The Administration Committee shall be responsible for the administration, operation and interpretation of the Plan. The Administration Committee shall establish rules from time to time for the transaction of its business. The Administration Committee shall have the exclusive right to interpret the Plan’s provisions and to exercise discretion where necessary or appropriate in the interpretation and administration of the Plan and to decide any and all matters arising thereunder or in connection with the administration of the Plan. Such decisions, actions and records of the Administration Committee shall be conclusive and binding upon all persons having or claiming to have any right or interest in or under the Plan, provided that if no Independent Committee is appointed, any decisions by the Administration Committee in respect of eligibility for benefits under the Plan shall be subject to de novo review.

The Administration Committee may delegate some or all of its authority under the Plan to any person, persons or entities. The Administration Committee may remove any duly appointed delegate at any time at its sole discretion.

Section 7.03. Organization of the Administration Committee. The Administration Committee shall adopt such rules as it deems desirable for the conduct of its affairs and for the administration of its duties under the Plan. The Administration Committee may appoint agents (who need not be members of the Administration Committee) to whom it may delegate such powers as it deems appropriate. The Administration Committee may make its determinations with or without meetings, and it may authorize one or more of its members or agents to sign instructions, notices and determinations on its behalf. Any action taken by the Administration Committee shall be taken by a majority of the members attending a meeting of the Administration Committee (provided at least a majority of the Administration Committee members are at such meeting) or by a majority of the members of the Administration Committee executing a written instrument setting forth the action taken.

Section 7.04. Indemnification of Administration Committee Members. Newmont Mining shall indemnify the members of the Administration Committee against any and all claims, loss, damages, expense (including attorney fees) and liability arising from any action or failure to act, except when the same is judicially determined to be due to the gross negligence or willful misconduct of such member. Such indemnification shall include the Administration Committee members or any individuals delegated authority by the Administration Committee if such individuals are employed by Newmont Mining or an Affiliated Entity. Newmont Mining does not hereby indemnify any entity or person that is not an employee of Newmont Mining or an Affiliated Entity, provided that this sentence shall not apply to any individual who is a member of the Independent Committee. The indemnification provided hereunder shall continue as to a person who has ceased acting as a director, officer, member, agent or employee of the Employer, and such person’s rights shall inure to the benefit of his heirs and representatives.

Section 7.05. Benefits Claims and Appeals. The Plan is not intended to be subject to ERISA. If and only if, however, the Plan is determined to be subject to ERISA, the intention of Newmont is that it shall be construed as a “welfare plan,” as defined in Section 3(1) of ERISA, and this Section 7.05 shall apply. The Administration Committee shall establish a claims and appeals procedure applicable to persons eligible to participate in the Plan. Unless otherwise required by applicable law, such procedures will provide that any such person has not less than

2012 Executive Change of Control Plan of Newmont

Effective January 1, 2012

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60 days following receipt of any adverse benefit determination within which to appeal the determination in writing with the Administration Committee, and that the Administration Committee must respond in writing within 30 days of receiving the appeal, specifically identifying those Plan provisions on which the benefit denial was based and indicating what, if any, information such person must supply in order to perfect a claim for benefits. Notwithstanding the foregoing, the claims and appeals procedures established by the Administration Committee will be provided for the use and benefit of persons who may choose to avail themselves of such procedures, but compliance with the provisions of those claims and appeals procedures by any such person will not be mandatory for any such person claiming benefits upon or after a Change of Control. It shall not be necessary for any person to exhaust these procedures and remedies upon or after a Change of Control prior to bringing any legal claim or action, or asserting any other demand, for payments or other benefits to which such person claims entitlement.

ARTICLE VIII

MISCELLANEOUS

Section 8.01. Full Settlement. The Employer’s obligation to make the payments provided for under this Plan and otherwise to perform its obligations hereunder shall not be affected by any setoff, counterclaim, recoupment, defense or other claim, right or action which the Employer may have against a Salaried Employee or others. In no event shall a Salaried Employee be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Salaried Employee under any of the provisions of this Plan and such amounts shall not be reduced whether or not the Salaried Employee obtains other employment. The Employer agrees to pay, to the full extent permitted by law, all legal fees and expenses which a Salaried Employee may incur as a result of any contest by the Employer, the Salaried Employee or others of the validity or enforceability of, or liability under, any provision of this Plan or any guarantee of performance thereof (including as a result of any contest by the Salaried Employee about the amount of any payment pursuant to this Plan), plus in each case reasonable interest on any delayed payment; provided that the Employer will pay such fees, expenses, and interest as incurred at any time from the Effective Date through the Salaried Employee’s remaining lifetime (or, if longer, through the 20^th anniversary of the Effective Date). Reimbursement shall be made by the Employer to the Salaried Employee only if the Salaried Employee prevails on any claim in connection with such dispute. Such reimbursement shall be made as soon as practicable following the resolution of such contest or dispute (whether or not appealed), but in no event shall payments under this Section be made later than the end of the calendar year next following the calendar year in which such legal fees and expenses were incurred, provided that the Salaried Employee shall have submitted an invoice for such legal fees and expenses at least 10 days before the end of the calendar year next following the calendar year in which such legal fees and expenses were incurred. The amount of such legal fees and expenses that the Employer is obligated to pay in any given calendar year shall not affect the legal fees and expenses that the Employer is obligated to pay in any other calendar year, and the Salaried Employee’s right to have the Employer pay such legal fees and expenses may not be liquidated or exchanged for any other benefit.

2012 Executive Change of Control Plan of Newmont

Effective January 1, 2012

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Section 8.02. Confidential Information. Each Salaried Employee shall hold in a fiduciary capacity for the benefit of the Employer all secret or confidential information, knowledge or data relating to the Employer or any of its Affiliated Entities, and their respective businesses, which shall have been obtained by the Salaried Employee during the Salaried Employee’s employment by the Employer or any of its Affiliated Entities and which shall not be or become public knowledge (other than by acts by the Salaried Employee or representatives of the Salaried Employee in violation of this Plan). After termination of a Salaried Employee’s employment with the Employer, the Salaried Employee shall not, without the prior written consent of the Employer or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Employer and those designated by it. In no event shall an asserted violation of the provisions of this Section constitute a basis for deferring or withholding any amounts otherwise payable under this Plan.

Section 8.03. Unfunded Plan Status. This Plan is intended to be an unfunded plan within the meaning of ERISA. All payments pursuant to the Plan shall be made from the general funds of the Employer. No Salaried Employee or other person shall have under any circumstances any interest in any particular property or assets of the Employer as a result of participating in the Plan. Notwithstanding the foregoing, the Employer may (but shall not be obligated to) create one or more trusts, the assets of which are subject to the claims of the Employer’s creditors, to assist it in accumulating funds to pay its obligations under the Plan; provided, however, that the funding of a trust shall not occur if the Employer reasonably determines that such funding will likely result in taxable income to Participants by reason of Section 409A of the Code. In no event will any trust assets at any time be located or transferred outside of the United States within the meaning of Section 409A(b) of the Code.

Section 8.04. Employment Status. This Plan does not constitute a contract of employment or impose on the Salaried Employee or the Salaried Employee’s Employer any obligation for the Salaried Employee to remain an Employee or change the status of the Salaried Employee’s employment or the policies of the Employer regarding Separation from Service.

Section 8.05. Validity and Severability. The invalidity or unenforceability of any provision of the Plan shall not affect the validity or enforceability of any other provision of the Plan, which shall remain in full force and effect, and any prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Section 8.06. Governing Law. The validity, interpretation, construction and performance of the Plan shall in all respects be governed by the laws of Colorado, without reference to principles of conflict of law, except to the extent preempted by federal law.

Section 8.07. Right of Offset. To the extent permitted by applicable law, the Employer may, in its sole discretion, apply any payments otherwise due and payable under this Plan against any Salaried Employee or terminated Salaried Employee loans outstanding to the Employer or other debts of the Salaried Employee or terminated Salaried Employee to the Employer which are reflected in a written, legally binding document. By accepting payments under this Plan, the Salaried Employee shall consent to the reduction of any compensation paid to the Salaried Employee by the Employer to the extent the Salaried Employee receives an overpayment from the Plan. Notwithstanding the foregoing, however, the Employer shall not offset any benefits payable pursuant to this Plan to the extent such offset would result in the imposition of taxes or penalties pursuant to Code Section 409A and the Treasury Regulations issued thereunder.

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Section 8.08. Conformance With Applicable Laws. Notwithstanding anything contained herein to the contrary, this Plan shall be administered and operated in accordance with any applicable laws and regulations including but not limited to laws affecting the timing of payments to Salaried Employees. The Board or its delegate reserves the right to amend this Plan at any time in order for this Plan to comply with any such laws and regulations.

Section 8.09. Payments Due Minors or Incapacitated Persons. If any person entitled to a payment under this Plan is a minor, or if the Administration Committee or its delegate determines that any such person is incapacitated by reason of physical or mental disability, whether or not legally adjudicated as an incompetent, the Administration Committee or its delegate shall have the power to cause the payment becoming due to such person to be made to another for his benefit, without responsibility of the Administration Committee or its delegate, the Employer or any other person or entity to see to the application of such payment. Payments made pursuant to such power shall operate as a complete discharge of the Administration Committee, this Plan and the Employer.

Section 8.10. Distribution Delay for Specified Employees. In the case of a distribution to a Specified Employee due to the Specified Employee’s Separation from Service, and if the payment constitutes nonqualified deferred compensation determined in accordance with Code Section 409A and Treasury Regulations issued thereunder, such distribution may not be made before the date which is six months after the date of the Specified Employee’s Separation from Service with the Employer or, if earlier, the date of the Specified Employee’s death.

ARTICLE IX

DURATION, AMENDMENT AND TERMINATION

Section 9.01. Duration. Unless terminated by the Board, the Plan shall renew each January 1 and remain effective for the ensuing year. If a Change of Control occurs while this Plan is in effect, this Plan shall continue in full force and effect following such Change of Control and shall not terminate or expire until after all Salaried Employees who become entitled to any payments hereunder shall have received such payments in full.

Section 9.02. Amendment or Termination. The Board may amend or terminate this Plan upon 12 months notice to Plan participants, provided that this Plan may not be terminated or amended in a manner adverse to Salaried Employees (including modifying the eligibility of Employees to participate in the Plan) during a period beginning on the first day of the calendar month that is six months prior to the execution of a letter of intent or other agreement entered into in connection with a pending Change of Control and ending on the second anniversary of a Change of Control.

Section 9.03. Procedure for Extension, Amendment or Termination. Any extension, amendment or termination of this Plan by the Board in accordance with the foregoing shall be made by action of the Board in accordance with Newmont Mining’s charter and bylaws and applicable law.

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The foregoing was adopted the 28^th day of December, 2011.

NEWMONT USA LIMITED
By:	/s/    Stephen P. Gottesfeld
Name:	Stephen P. Gottesfeld
Title:	Vice President

2012 Executive Change of Control Plan of Newmont

Effective January 1, 2012

Page 15 of 15

EX-10.58

Exhibit 10.58

AMENDMENT ONE

TO THE

EXECUTIVE CHANGE OF CONTROL PLAN OF NEWMONT

WHEREAS, the Executive Change of Control Plan of Newmont (the “Plan”) was amended and restated by Newmont USA Limited (the “Plan Sponsor”) effective December 31, 2008; and

WHEREAS, the Plan Sponsor wishes to amend the plan to freeze participation in the Plan to employees who meet the eligibility requirements prior to January 1, 2012; and

WHEREAS, Article X of the Plan authorizes the Plan Sponsor to amend the Plan from time to time.

NOW, THEREFORE, the Plan is hereby amended effective January 1, 2012, as follows:

1. Article II, “Eligibility,” is amended by adding the following Section 2.03:

Section 2.03. Suspension of Plan as of December 31, 2011. Effective on and after January 1, 2012, an Employee who is first employed by the Employer or would otherwise satisfy the eligibility provisions of this Section for the first time on or after January 1, 2012, shall not be eligible to participate in this Plan.

2. The Administration Committee or its delegate is hereby authorized to take any action necessary or advisable to implement this amendment.

The foregoing was adopted this 28th day of December, 2011.

NEWMONT USA LIMITED
By:	/s/    Stephen P. Gottesfeld
Name: Stephen P. Gottesfeld
Title: Vice President

Executive Change of Control Plan of Newmont

Amendment One Effective January 1, 2012

Page 1 of 1

AMENDMENT TWO

TO THE

EXECUTIVE CHANGE OF CONTROL PLAN OF NEWMONT

WHEREAS, the Executive Change of Control Plan of Newmont (the “Plan”) was amended and restated by Newmont USA Limited (the “Plan Sponsor”) effective December 31, 2008; and

WHEREAS, the Plan Sponsor wishes to amend the definition of “Change of Control” under the Plan in certain respects in order for the definition to be consistent with the 2012 Executive Change of Control Plan of Newmont; and

WHEREAS, Section 9.02 of the Plan authorizes the Plan Sponsor to amend the Plan from time to time.

NOW, THEREFORE, the Plan is hereby amended effective January 1, 2012 as follows:

1. Article I, “Definitions,” is amended by restating paragraph (iii) of the definition of “Change of Control” as follows:

(iii) Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of Newmont Mining or an acquisition of assets of another entity (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, (or for a non-corporate entity, equivalent governing body) as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity which as a result of such transaction owns Newmont Mining or all or substantially all of Newmont Mining’s assets either directly or through one or more subsidiaries (a “Parent Company”)) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no person or entity (excluding Newmont Mining, any entity resulting from such Business Combination, any employee benefits plan (or related trust) of Newmont Mining or its Affiliate or any entity resulting from such Business Combination or, if reference was made to equity ownership of any Parent Company for purposes of determining whether clause (A) above is satisfied in connection with the applicable Business Combination, such Parent Company) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock (or for a non-corporate entity, equivalent securities of the entity) resulting from such Business Combination or the combined voting power of the then outstanding

Executive Change of Control Plan of Newmont

Amendment Two Effective January 1, 2012

Page 1 of 2

voting securities of such entity entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), of the entity unless such ownership resulted solely from ownership of securities of Newmont Mining, prior to the Business Combination and (C) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination (or, if reference was made to equity ownership of any Parent Company for purposes of determining whether clause (A) above is satisfied in connection with the applicable Business Combination, of the Parent Company) were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board of Directors of Newmont Mining, providing for such Business Combination; or

2. The Administration Committee or its delegate is hereby authorized to take any action necessary or advisable to implement this amendment.

The foregoing was adopted this 17^th day of February, 2012.

NEWMONT USA LIMITED
By:	/s/    Stephen P. Gottesfeld
Name: Stephen P. Gottesfeld
Title: Vice President

Executive Change of Control Plan of Newmont

Amendment Two Effective January 1, 2012

Page 2 of 2

EX-10.59

Exhibit 10.59

AMENDMENT TWO

TO THE

SAVINGS EQUALIZATION PLAN OF NEWMONT

WHEREAS, the Savings Equalization Plan of Newmont (the “Plan”) was restated by Newmont USA Limited (the “Plan Sponsor”) effective December 31, 2008; and

WHEREAS, the Plan Sponsor wishes to amend the Plan effective January 1, 2011; and

WHEREAS, Section 9.02 of the Plan authorizes the Plan Sponsor to amend the Plan from time to time.

NOW, THEREFORE, the Plan is hereby amended effective January 1, 2011 as follows:

1. Section 3.02, “Bonus Deferrals,” subsection (a) is restated as follows:

(a) A Participant may elect to defer a portion of his Bonus Compensation by filing an Enrollment Agreement with the Administration Committee or its delegate subject to the following rules:

(i) With respect to individuals who become eligible during the course of the Plan Year, including newly hired eligible employees, an election to defer Bonus Compensation must be made within 30 days after first becoming eligible for the Plan. The election shall apply only to Bonus Compensation earned after the election is made.

(ii) With respect to current Participants, an employee who is eligible for the Plan as of the first day of the Plan Year and continuing through the date his Bonus Compensation election is made, an election to defer Bonus Compensation that is performance-based compensation may be made on or before six months before the end of the performance period or, if earlier, before the date the performance-based compensation is substantially certain to be paid. In such case, the Enrollment Agreement must be filed on or before the expiration of the sixth month of the Plan Year for which the bonus payment is determined. Notwithstanding the foregoing, in no event may an election to defer performance-based compensation be made after such compensation is readily ascertainable. “Performance-based compensation” for purposes of this Section means compensation that is contingent on the satisfaction of pre-established organizational or individual performance criteria relating to a performance period of at least 12 months and shall be interpreted in accordance with Treasury Regulation Section 1.409A-1(e).

2. The Administration Committee or its delegate is hereby authorized to take any action necessary or advisable to implement this amendment.

Savings Equalization Plan of Newmont

Amendment Two Effective January 1, 2011

Page 1 of 2

The foregoing was adopted this 28^th day of December, 2011.

NEWMONT USA LIMITED
By:	/s/    Stephen P. Gottesfeld
Name:	Stephen P. Gottesfeld
Title:	Vice President

Savings Equalization Plan of Newmont

Amendment Two Effective January 1, 2011

Page 2 of 2

AMENDMENT ONE

TO THE

SAVINGS EQUALIZATION PLAN OF NEWMONT

WHEREAS, the Savings Equalization Plan of Newmont (the “Plan”) was restated by Newmont USA Limited (the “Plan Sponsor”) effective December 31, 2008; and

WHEREAS, the Plan Sponsor wishes to amend the Plan effective January 1, 2010; and

WHEREAS, Section 9.02 of the Plan authorizes the Plan Sponsor to amend the Plan from time to time.

NOW, THEREFORE, the Plan is hereby amended effective January 1, 2010 as follows:

1. Section 2.01, Eligibility and Participation,” is restated as follows:

Section 2.01. Eligibility and Participation. The Board of Directors or its delegate shall from time to time in its sole discretion select those employees of the Company who are eligible to participate in the Plan. In order to be eligible to participate in this Plan, an employee must be (a) eligible to participate in the Savings Plan and (b) among a select group of management or highly compensated employees of the Company. An hourly paid employee will not be eligible to participate in the Plan. In no event will an employee with Base Compensation of less than $175,000 be eligible to participate in the Plan. Notwithstanding the foregoing compensation requirement, any individual who satisfied the eligibility requirements of the Plan as in effect prior to December 31, 2008, who meets the above requirements other than the compensation requirement and who had assets credited to his or her account in 2008 and who continues to meet such criteria, shall be eligible to participate in the Plan. Once an employee becomes eligible to participate in the Plan, such employee shall have a plan entry date as of the first payroll 30 days after the eligibility requirements are met.

2. The Administration Committee or its delegate is hereby authorized to take any action necessary or advisable to implement this amendment.

The foregoing was adopted this 31st day of December, 2010.

NEWMONT USA LIMITED
By:	/s/    Stephen P. Gottesfeld
Name:	Stephen P. Gottesfeld
Title:	Vice President

Savings Equalization Plan of Newmont

Amendment One Effective January 1, 2010

Page 1 of 1

EX-10.60

Exhibit 10.60

NEWMONT MINING CORPORATION

2005 STOCK INCENTIVE PLAN

RESTRICTED STOCK UNIT AGREEMENT

This Agreement (“Agreement”), dated February     , 2012, is made between Newmont Mining Corporation (“Newmont”) and “Executive,” as specified in his or her Grant Summary and Grant Acknowledgment (collectively, the “Grant Acknowledgment”). The Grant Acknowledgment is set forth on the BNY Mellon Shareowner Services—Employee ServiceDirect webpage.

The Grant Acknowledgment is incorporated by reference herein. This Agreement shall be deemed executed by Executive upon his or her electronic execution of the Grant Acknowledgment. All capitalized terms that are not defined herein shall have the meaning as defined in the Newmont Mining Corporation 2005 Stock Incentive Plan (“Plan”).

1. Award of Restricted Stock Units. Newmont hereby grants to Executive the right to receive from Newmont the number of shares of $1.60 par value Common Stock of Newmont (the “Restricted Stock Units” or “RSU’s”) (rounded down to the nearest whole share) specified in the Grant Acknowledgment, pursuant to the terms and subject to the conditions and restrictions set forth in this Agreement and the Plan, including the Vesting Period, as such term is defined in this Agreement, and in connection with such award, Newmont and Executive hereby agree as follows:

2. Vesting Period. The Vesting Period shall commence on the date of this Agreement and shall end on the dates set forth below as to that percentage of the total shares of Common Stock subject to this Agreement set forth opposite each such date:

Date	Percentage Vested
February         , 2013		50	%
February         , 2014		50	%

3. Termination of Employment for death, disability, and following change of control. Notwithstanding the foregoing, if (i) Executive dies, (ii) Executive’s employment by Newmont or any Subsidiary terminates by reason of (a) disability (as determined under the terms of the Long-Term Disability Plan of Newmont), or (b) termination of employment entitling Executive to benefits under the applicable Executive Change of Control Plan of Newmont , in any such case prior to the completion of the Vesting Period, the Vesting Period shall terminate, and all RSUs not theretofore forfeited in accordance with this Agreement shall become fully vested and nonforfeitable, as of the date of Executive’s death or other termination of employment, referred to in clause (i) or (ii).

Termination of Employment under the Executive Severance Plan of Newmont. Notwithstanding the foregoing, if Executive ceases to be employed by Newmont and/or a Subsidiary prior to completion of the Vesting Period as a result of a termination of employment entitling Executive to benefits under the Executive Severance Plan of Newmont, the Vesting

Period shall terminate for a pro-rata percentage of the shares granted, based upon the date of grant and separation date, in accordance with the following formula:

If Executive ceases to be employed by Newmont and/or a Subsidiary prior to the completion of the Vesting Period under circumstances other than those set forth above, namely death, disability, termination qualifying for benefits under the Executive Change of Control Plan of Newmont applicable to Executive or termination qualifying for benefits under the Executive Severance Plan of Newmont, Executive agrees that any unvested RSUs will be immediately and unconditionally forfeited without any action required by Executive or Newmont, to the extent that the Vesting Period had not ended in accordance with Paragraph 2 as of the date of such cessation of employment.

4. No Ownership Rights Prior to Issuance of Common Stock. Executive shall not have any rights as a shareholder of Newmont with respect to the shares of Common Stock underlying the RSUs, including but not limited to the right to vote with respect to such shares of Common Stock, until and after the shares of Common Stock have been actually issued to Executive and transferred on the books and records of Newmont; provided, however, upon vesting of the RSUs pursuant to the Vesting Period, or Executive’s earlier termination of employment under circumstances entitling Executive to vest in the RSUs pursuant to Paragraph 3, Newmont shall make a cash payment to the Executive equal to any dividends paid with respect to shares of Common Stock underlying such RSUs from the date of this Agreement until the date such RSUs vest, minus any applicable taxes.

5. Withholding Taxes. Upon vesting pursuant to the Vesting Period, or Executive’s earlier termination of employment under circumstances entitling Executive to vest in the RSUs pursuant to Paragraph 3, Executive shall be entitled to receive the shares of Common Stock, less an amount of shares of Common Stock with a Fair Market Value on the date of vesting equal to the minimum required withholding obligation taking into account Executive’s effective tax rate and all applicable federal, state, local and foreign taxes, and Executive shall be entitled to receive the net number of shares of Common Stock after withholding of shares for taxes unless such tax obligations are satisfied in accordance with Paragraph 6. Notwithstanding the foregoing, to the extent any such taxes are required by law to be withheld with respect to the Restricted Stock Units prior to the end of the Vesting Period, Executive agrees that Newmont may withhold such amount for taxes through payroll services from other cash compensation payable to Executive from Newmont.

6. Delivery of Shares of Common Stock. As soon as reasonably practicable following the date of vesting pursuant to the Vesting Period, or Executive’s earlier termination of employment or other event entitling Executive to vest in the RSUs pursuant to Paragraph 3, subject to Section 9(i), Newmont shall cause to be delivered to Executive a stock certificate or electronically deliver shares through a direct registration system for the number of shares of Common Stock (net of tax withholding as provided in Paragraph 5) deliverable to Executive in accordance with

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the provisions of this Agreement; provided, however, that Newmont may allow Executive to elect to have shares of Common Stock, which are deliverable in accordance with the provisions of this Agreement upon vesting (or a portion of such shares at least sufficient to satisfy Executive’s tax withholding obligations with respect to such Common Stock), sold on behalf of Executive, with the cash proceeds thereof, net of tax withholding, remitted to Executive, in lieu of Executive receiving a stock certificate or electronic delivery of shares in a direct registration system.

7. Nontransferability. Executive’s interest in the RSUs and any shares of Common Stock relating thereto may not be sold, transferred, pledged, assigned, encumbered or otherwise alienated or hypothecated otherwise than by will or by the laws of descent and distribution, prior to such time as the shares of Common Stock have actually been issued and delivered to Executive.

8. Acknowledgements. Executive acknowledges receipt of and understands and agrees to the terms of the RSUs award and the Plan. In addition to the above terms, Executive understands and agrees to the following:

(a) Executive hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all of the terms and provisions thereof, including the terms and provisions adopted after the date of this Agreement but prior to the completion of the Vesting Period. If and to the extent that any provision contained in this Agreement is inconsistent with the Plan, the Plan shall govern.

(b) Executive acknowledges that as of the date of this Agreement, the Agreement, the Grant Acknowledgement and the Plan set forth the entire understanding between Executive and Newmont regarding the acquisition of shares of Common Stock underlying the RSUs in Newmont and supersedes all prior oral and written agreements pertaining to the RSUs.

(c) Executive understands that his or her employer, Newmont and its Subsidiaries hold certain personal information about Executive, including but not limited to his or her name, home address, telephone number, date of birth, social security number, salary, nationality, job title and details of all RSUs or other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding (“personal data”). Certain personal data may also constitute “sensitive personal data” within the meaning of applicable law. Such data include but are not limited to the information provided above and any changes thereto and other appropriate personal and financial data about Executive. Executive hereby gives explicit consent to Newmont and any of its Subsidiaries to process any such personal data and/or sensitive personal data. Executive also hereby gives explicit consent to Newmont to transfer any such personal data and/or sensitive personal data outside the country in which Executive is employed, including, but not limited to the United States. The legal persons for whom such personal data are intended include, but are not limited to Newmont and its agent, Mellon Investor Services. Executive has been informed of his or her right of access and correction to his or her personal data by applying to Director of Compensation, Newmont Corporate.

(d) Executive understands that Newmont has reserved the right to amend or terminate the Plan at any time, and that the award of RSUs under the Plan at one time does not in any way obligate Newmont or its Subsidiaries to grant additional RSUs in any future year or in any given amount. Executive acknowledges and understands that the RSUs are awarded in

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connection with Executive’s status as an employee of his or her employer and can in no event be interpreted or understood to mean that Newmont is Executive’s employer or that there is an employment relationship between Executive and Newmont. Executive further acknowledges and understands that Executive’s participation in the Plan is voluntary and that the RSUs and any future RSUs under the Plan are wholly discretionary in nature, the value of which do not form part of any normal or expected compensation for any purposes, including, but not limited to, calculating any termination, severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, other than to the extent required by local law.

(e) Executive acknowledges and understands that the future value of the shares of Common Stock acquired by Executive under the Plan is unknown and cannot be predicted with certainty and that no claim or entitlement to compensation or damages arises from the forfeiture of the RSUs or termination of the Plan or the diminution in value of any shares of Common Stock acquired under the Plan and Executive irrevocably releases Newmont and its Subsidiaries from any such claim that may arise.

(f) Executive acknowledges that the vesting of the RSUs ceases upon the earlier of termination of employment or receipt of notice of termination of employment for any reason, except as may otherwise be explicitly provided herein, and the Executive irrevocably waives any right to the contrary under applicable law.

(g) Executive acknowledges that the Executive’s acceptance of the RSUs, including the terms and conditions herein, is voluntary.

9. Miscellaneous

(a) No Right to Continued Employment. Neither the RSUs nor any terms contained in this Agreement shall confer upon Executive any expressed or implied right to be retained in the service of any Subsidiary for any period at all, nor restrict in any way the right of any such Subsidiary, which right is hereby expressly reserved, to terminate his or her employment at any time with or without cause. Executive acknowledges and agrees that any right to receive delivery of shares of Common Stock is earned only by continuing as an employee of a Subsidiary at the will of such Subsidiary, or satisfaction of any other applicable terms and conditions contained in this Agreement and the Plan, and not through the act of being hired, being granted the RSUs or acquiring shares of Common Stock hereunder.

(b) Compliance with Laws and Regulations. The award of the RSUs to Executive and the obligation of Newmont to deliver shares of Common Stock hereunder shall be subject to (a) all applicable federal, state, local and foreign laws, rules and regulations, and (b) any registration, qualification, approvals or other requirements imposed by any government or regulatory agency or body which the Newmont Committee shall, in its sole discretion, determine to be necessary or applicable. Moreover, shares of Common Stock shall not be delivered hereunder if such delivery would be contrary to applicable law or the rules of any stock exchange.

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(c) Investment Representation. If at the time of delivery of shares of Common Stock, the Common Stock is not registered under the Securities Act of 1933, as amended (the “Securities Act”), and/or there is no current prospectus in effect under the Securities Act with respect to the Common Stock, Executive shall execute, prior to the delivery of any shares of Common Stock to Executive by Newmont, an agreement (in such form as the Newmont Committee may specify) in which Executive represents and warrants that Executive is purchasing or acquiring the shares acquired under this Agreement for Executive’s own account, for investment only and not with a view to the resale or distribution thereof, and represents and agrees that any subsequent offer for sale or distribution of any kind of such shares shall be made only pursuant to either (i) a registration statement on an appropriate form under the Securities Act, which registration statement has become effective and is current with regard to the shares being offered or sold, or (ii) a specific exemption from the registration requirements of the Securities Act, but in claiming such exemption Executive shall, prior to any offer for sale of such shares, obtain a prior favorable written opinion, in form and substance satisfactory to the Newmont Committee, from counsel for or approved by the Newmont Committee, as to the applicability of such exemption thereto.

(d) Definitions. All capitalized terms that are used in this Agreement that are not defined herein have the meanings defined in the Plan. In the event of a conflict between the terms of the Plan and the terms of this Agreement, the terms of the Plan shall prevail.

(e) Notices. Any notice or other communication required or permitted hereunder shall, if to Newmont, be in accordance with the Plan, and, if to Executive, be in writing and delivered in person or by registered or certified mail or overnight courier, postage prepaid, addressed to Executive at his or her last known address as set forth in Newmont’s records.

(f) Severability. If any of the provisions of this Agreement should be deemed unenforceable, the remaining provisions shall remain in full force and effect.

(g) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

(h) Transferability of Agreement. This Agreement may not be transferred, assigned, pledged or hypothecated by either party hereto, other than by operation of law. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns, including, in the case of Executive, his or her estate, heirs, executors, legatees, administrators, designated beneficiary and personal representatives. Nothing contained in this Agreement shall be deemed to prevent transfer of the RSUs in the event of Executive’s death in accordance with Section 16(b) of the Plan.

(i) Specified Employee Delay. If Newmont determines that settlement of RSUs hereunder (i) constitutes a deferral of compensation for purposes of Section 409A of the Internal Revenue Code (the “Code”), (ii) is made to Executive by reason of his or her “separation from service” (within the meaning of Code Section 409A), and (iii) Executive is a “specified employee” (within the meaning of Code Section 409A) at the time settlement would otherwise occur, transfers of Common Stock will be delayed until the first day of the seventh month following the date of such separation from service or, if earlier, on Executive’s death.

(j) Modification. Except as otherwise permitted by the Plan, this Agreement may not be modified or amended, nor may any provision hereof be waived, in any way except in writing signed by the parties hereto. Notwithstanding any other provision of this Agreement to

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the contrary, the Committee may amend this Agreement to the extent it determines necessary or appropriate to comply with the requirements of Code Section 409A and the guidance thereunder and any such amendment shall be binding on Executive.

IN WITNESS WHEREOF, pursuant to Executive’s Grant Acknowledgement (including without limitation, the Terms and Conditions section hereof), incorporated herein by reference, and electronically executed by Executive, Executive agrees to the terms and conditions of this Award Agreement.

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EX-10.61

Exhibit 10.61

NEWMONT MINING CORPORATION

2005 STOCK INCENTIVE PLAN

RESTRICTED STOCK UNIT AGREEMENT

This Agreement (“Agreement”), dated February     , 2012, is made between Newmont Mining Corporation (“Newmont”) and “Executive,” as specified in his or her Grant Summary and Grant Acknowledgment (collectively, the “Grant Acknowledgment”). The Grant Acknowledgment is set forth on the BNY Mellon Shareowner Services—Employee ServiceDirect webpage.

The Grant Acknowledgment is incorporated by reference herein. This Agreement shall be deemed executed by Executive upon his or her electronic execution of the Grant Acknowledgment. All capitalized terms that are not defined herein shall have the meaning as defined in the Newmont Mining Corporation 2005 Stock Incentive Plan (“Plan”).

1. Award of Restricted Stock Units. Newmont hereby grants to Executive the right to receive from Newmont the number of shares of $1.60 par value Common Stock of Newmont (the “Restricted Stock Units” or “RSU’s”) (rounded down to the nearest whole share) specified in the Grant Acknowledgment, pursuant to the terms and subject to the conditions and restrictions set forth in this Agreement and the Plan, including the Vesting Period, as such term is defined in this Agreement, and in connection with such award, Newmont and Executive hereby agree as follows:

2. Vesting Period. The Vesting Period shall commence on the date of this Agreement and shall end on the dates set forth below as to that percentage of the total shares of Common Stock subject to this Agreement set forth opposite each such date:

Date	Percentage Vested
February     , 2013		33	%
February     , 2014		33	%
February     , 2015		34	%

3. Termination of Employment for death, disability, and following change of control. Notwithstanding the foregoing, if (i) Executive dies, (ii) Executive’s employment by Newmont or any Subsidiary terminates by reason of (a) disability (as determined under the terms of the Long-Term Disability Plan of Newmont), or (b) termination of employment entitling Executive to benefits under the applicable Executive Change of Control Plan of Newmont , in any such case prior to the completion of the Vesting Period, the Vesting Period shall terminate, and all RSUs not theretofore forfeited in accordance with this Agreement shall become fully vested and nonforfeitable, as of the date of Executive’s death or other termination of employment, referred to in clause (i) or (ii).

Termination of Employment under the Executive Severance Plan of Newmont. Notwithstanding the foregoing, if Executive ceases to be employed by Newmont and/or a Subsidiary prior to completion of the Vesting Period as a result of a termination of employment entitling Executive to benefits under the Executive Severance Plan of Newmont, the Vesting

Period shall terminate for a pro-rata percentage of the shares granted, based upon the date of grant and separation date, in accordance with the following formula:

If Executive ceases to be employed by Newmont and/or a Subsidiary prior to the completion of the Vesting Period under circumstances other than those set forth above, namely death, disability, termination qualifying for benefits under the Executive Change of Control Plan of Newmont applicable to Executive or termination qualifying for benefits under the Executive Severance Plan of Newmont, Executive agrees that any unvested RSUs will be immediately and unconditionally forfeited without any action required by Executive or Newmont, to the extent that the Vesting Period had not ended in accordance with Paragraph 2 as of the date of such cessation of employment.

4. No Ownership Rights Prior to Issuance of Common Stock. Executive shall not have any rights as a shareholder of Newmont with respect to the shares of Common Stock underlying the RSUs, including but not limited to the right to vote with respect to such shares of Common Stock, until and after the shares of Common Stock have been actually issued to Executive and transferred on the books and records of Newmont; provided, however, upon vesting of the RSUs pursuant to the Vesting Period, or Executive’s earlier termination of employment under circumstances entitling Executive to vest in the RSUs pursuant to Paragraph 3, Newmont shall make a cash payment to the Executive equal to any dividends paid with respect to shares of Common Stock underlying such RSUs from the date of this Agreement until the date such RSUs vest, minus any applicable taxes.

5. Withholding Taxes. Upon vesting pursuant to the Vesting Period, or Executive’s earlier termination of employment under circumstances entitling Executive to vest in the RSUs pursuant to Paragraph 3, Executive shall be entitled to receive the shares of Common Stock, less an amount of shares of Common Stock with a Fair Market Value on the date of vesting equal to the minimum required withholding obligation taking into account Executive’s effective tax rate and all applicable federal, state, local and foreign taxes, and Executive shall be entitled to receive the net number of shares of Common Stock after withholding of shares for taxes unless such tax obligations are satisfied in accordance with Paragraph 6. Notwithstanding the foregoing, to the extent any such taxes are required by law to be withheld with respect to the Restricted Stock Units prior to the end of the Vesting Period, Executive agrees that Newmont may withhold such amount for taxes through payroll services from other cash compensation payable to Executive from Newmont.

6. Delivery of Shares of Common Stock. As soon as reasonably practicable following the date of vesting pursuant to the Vesting Period, or Executive’s earlier termination of employment or other event entitling Executive to vest in the RSUs pursuant to Paragraph 3, subject to Section 9(i), Newmont shall cause to be delivered to Executive a stock certificate or electronically deliver shares through a direct registration system for the number of shares of Common Stock (net of tax withholding as provided in Paragraph 5) deliverable to Executive in accordance with

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the provisions of this Agreement; provided, however, that Newmont may allow Executive to elect to have shares of Common Stock, which are deliverable in accordance with the provisions of this Agreement upon vesting (or a portion of such shares at least sufficient to satisfy Executive’s tax withholding obligations with respect to such Common Stock), sold on behalf of Executive, with the cash proceeds thereof, net of tax withholding, remitted to Executive, in lieu of Executive receiving a stock certificate or electronic delivery of shares in a direct registration system.

7. Nontransferability. Executive’s interest in the RSUs and any shares of Common Stock relating thereto may not be sold, transferred, pledged, assigned, encumbered or otherwise alienated or hypothecated otherwise than by will or by the laws of descent and distribution, prior to such time as the shares of Common Stock have actually been issued and delivered to Executive.

8. Acknowledgements. Executive acknowledges receipt of and understands and agrees to the terms of the RSUs award and the Plan. In addition to the above terms, Executive understands and agrees to the following:

(a) Executive hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all of the terms and provisions thereof, including the terms and provisions adopted after the date of this Agreement but prior to the completion of the Vesting Period. If and to the extent that any provision contained in this Agreement is inconsistent with the Plan, the Plan shall govern.

(b) Executive acknowledges that as of the date of this Agreement, the Agreement, the Grant Acknowledgement and the Plan set forth the entire understanding between Executive and Newmont regarding the acquisition of shares of Common Stock underlying the RSUs in Newmont and supersedes all prior oral and written agreements pertaining to the RSUs.

(c) Executive understands that his or her employer, Newmont and its Subsidiaries hold certain personal information about Executive, including but not limited to his or her name, home address, telephone number, date of birth, social security number, salary, nationality, job title and details of all RSUs or other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding (“personal data”). Certain personal data may also constitute “sensitive personal data” within the meaning of applicable law. Such data include but are not limited to the information provided above and any changes thereto and other appropriate personal and financial data about Executive. Executive hereby gives explicit consent to Newmont and any of its Subsidiaries to process any such personal data and/or sensitive personal data. Executive also hereby gives explicit consent to Newmont to transfer any such personal data and/or sensitive personal data outside the country in which Executive is employed, including, but not limited to the United States. The legal persons for whom such personal data are intended include, but are not limited to Newmont and its agent, Mellon Investor Services. Executive has been informed of his or her right of access and correction to his or her personal data by applying to Director of Compensation, Newmont Corporate.

(d) Executive understands that Newmont has reserved the right to amend or terminate the Plan at any time, and that the award of RSUs under the Plan at one time does not in any way obligate Newmont or its Subsidiaries to grant additional RSUs in any future year or in any given amount. Executive acknowledges and understands that the RSUs are awarded in

- 3 -

connection with Executive’s status as an employee of his or her employer and can in no event be interpreted or understood to mean that Newmont is Executive’s employer or that there is an employment relationship between Executive and Newmont. Executive further acknowledges and understands that Executive’s participation in the Plan is voluntary and that the RSUs and any future RSUs under the Plan are wholly discretionary in nature, the value of which do not form part of any normal or expected compensation for any purposes, including, but not limited to, calculating any termination, severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, other than to the extent required by local law.

(e) Executive acknowledges and understands that the future value of the shares of Common Stock acquired by Executive under the Plan is unknown and cannot be predicted with certainty and that no claim or entitlement to compensation or damages arises from the forfeiture of the RSUs or termination of the Plan or the diminution in value of any shares of Common Stock acquired under the Plan and Executive irrevocably releases Newmont and its Subsidiaries from any such claim that may arise.

(f) Executive acknowledges that the vesting of the RSUs ceases upon the earlier of termination of employment or receipt of notice of termination of employment for any reason, except as may otherwise be explicitly provided herein, and the Executive irrevocably waives any right to the contrary under applicable law.

(g) Executive acknowledges that the Executive’s acceptance of the RSUs, including the terms and conditions herein, is voluntary.

9. Miscellaneous

(a) No Right to Continued Employment. Neither the RSUs nor any terms contained in this Agreement shall confer upon Executive any expressed or implied right to be retained in the service of any Subsidiary for any period at all, nor restrict in any way the right of any such Subsidiary, which right is hereby expressly reserved, to terminate his or her employment at any time with or without cause. Executive acknowledges and agrees that any right to receive delivery of shares of Common Stock is earned only by continuing as an employee of a Subsidiary at the will of such Subsidiary, or satisfaction of any other applicable terms and conditions contained in this Agreement and the Plan, and not through the act of being hired, being granted the RSUs or acquiring shares of Common Stock hereunder.

(b) Compliance with Laws and Regulations. The award of the RSUs to Executive and the obligation of Newmont to deliver shares of Common Stock hereunder shall be subject to (a) all applicable federal, state, local and foreign laws, rules and regulations, and (b) any registration, qualification, approvals or other requirements imposed by any government or regulatory agency or body which the Newmont Committee shall, in its sole discretion, determine to be necessary or applicable. Moreover, shares of Common Stock shall not be delivered hereunder if such delivery would be contrary to applicable law or the rules of any stock exchange.

(c) Investment Representation. If at the time of delivery of shares of Common Stock, the Common Stock is not registered under the Securities Act of 1933, as amended (the “Securities Act”), and/or there is no current prospectus in effect under the

- 4 -

Securities Act with respect to the Common Stock, Executive shall execute, prior to the delivery of any shares of Common Stock to Executive by Newmont, an agreement (in such form as the Newmont Committee may specify) in which Executive represents and warrants that Executive is purchasing or acquiring the shares acquired under this Agreement for Executive’s own account, for investment only and not with a view to the resale or distribution thereof, and represents and agrees that any subsequent offer for sale or distribution of any kind of such shares shall be made only pursuant to either (i) a registration statement on an appropriate form under the Securities Act, which registration statement has become effective and is current with regard to the shares being offered or sold, or (ii) a specific exemption from the registration requirements of the Securities Act, but in claiming such exemption Executive shall, prior to any offer for sale of such shares, obtain a prior favorable written opinion, in form and substance satisfactory to the Newmont Committee, from counsel for or approved by the Newmont Committee, as to the applicability of such exemption thereto.

(d) Definitions. All capitalized terms that are used in this Agreement that are not defined herein have the meanings defined in the Plan. In the event of a conflict between the terms of the Plan and the terms of this Agreement, the terms of the Plan shall prevail.

(e) Notices. Any notice or other communication required or permitted hereunder shall, if to Newmont, be in accordance with the Plan, and, if to Executive, be in writing and delivered in person or by registered or certified mail or overnight courier, postage prepaid, addressed to Executive at his or her last known address as set forth in Newmont’s records.

(f) Severability. If any of the provisions of this Agreement should be deemed unenforceable, the remaining provisions shall remain in full force and effect.

(g) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

(h) Transferability of Agreement. This Agreement may not be transferred, assigned, pledged or hypothecated by either party hereto, other than by operation of law. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns, including, in the case of Executive, his or her estate, heirs, executors, legatees, administrators, designated beneficiary and personal representatives. Nothing contained in this Agreement shall be deemed to prevent transfer of the RSUs in the event of Executive’s death in accordance with Section 16(b) of the Plan.

(i) Specified Employee Delay. If Newmont determines that settlement of RSUs hereunder (i) constitutes a deferral of compensation for purposes of Section 409A of the Internal Revenue Code (the “Code”), (ii) is made to Executive by reason of his or her “separation from service” (within the meaning of Code Section 409A), and (iii) Executive is a “specified employee” (within the meaning of Code Section 409A) at the time settlement would otherwise occur, transfers of Common Stock will be delayed until the first day of the seventh month following the date of such separation from service or, if earlier, on Executive’s death.

(j) Modification. Except as otherwise permitted by the Plan, this Agreement may not be modified or amended, nor may any provision hereof be waived, in any way except in writing signed by the parties hereto. Notwithstanding any other provision of this Agreement to

- 5 -

the contrary, the Committee may amend this Agreement to the extent it determines necessary or appropriate to comply with the requirements of Code Section 409A and the guidance thereunder and any such amendment shall be binding on Executive.

IN WITNESS WHEREOF, pursuant to Executive’s Grant Acknowledgement (including without limitation, the Terms and Conditions section hereof), incorporated herein by reference, and electronically executed by Executive, Executive agrees to the terms and conditions of this Award Agreement.

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EX-12.1

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 before income and mining tax expense, noncontrolling interests, equity income (loss) of affiliates, discontinued operations 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,
	2011		2010		2009		2008		2007
Earnings:
Income before income and mining tax and other items(1)	$	1,810	$	3,997	$	2,954	$	1,294	$	(359	)
Adjustments:
Fixed charges added to earnings		267		295		135		147		125
Dividends from equity affiliates		31		7		2		—		2
Amortization of capitalized interest		24		26		17		17		18
	$	2,132	$	4,325	$	3,108	$	1,458	$	(214	)
Fixed Charges:
Net interest expense(2)	$	244	$	279	$	120	$	135	$	118
Portion of rental expense representative of interest		23		16		15		12		7
Fixed charges added to earnings		267		295		135		147		125
Capitalized interest		52		21		111		47		50
	$	319	$	316	$	246	$	194	$	175
Ratio of earnings to fixed charges		6.7		13.7		12.6		7.5		(3	)

⁽¹⁾  Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included in Income and mining tax expense.

⁽²⁾  Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.

⁽³⁾  Earnings for 2007 were inadequate to cover fixed charges by $389.

EX-21

Exhibit 21

NEWMONT MINING CORPORATION AND SUBSIDIARIES

As of December 31, 2011

Name	Incorporation	Ownership
Newmont Mining Corporation	Delaware, USA
Dafrico (Overseas) Ltd	Cyprus		100	%
Moydow Limited	Ghana		100	%
Newmont LaSource SAS	France		17	%
Euronimba Ltd	Jersey		43.5	%
Societe des Mines de Fer de Guinee	Guinea		95	%
Newmont Ghana Gold Limited	Ghana		100	%
Newmont Golden Ridge Limited	Ghana		100	%
Societe Miniere de Sabodala	Senegal		50.6	%
N.I. Limited	Bermuda		100	%
Newmont Australia Holdings Pty Ltd	Victoria, Australia		100	%
Newmont Australia Pty Ltd	Victoria, Australia		100	%
National Shareholder Services Pty Ltd	Western Australia		100	%
Newmont AP Power Pty Ltd	Western Australia		100	%
Newmont Capital Pty Ltd	New South Wales, Australia		100	%
Pacific-Nevada Mining Pty Ltd	Australian Capital Territory		100	%
Newmont Landco Pty Ltd	Western Australia		100	%
Newmont Metals Pty Ltd	Australian Capital Territory		100	%
Newmont Golden Grove Operations Pty Ltd	Western Australia		100	%
Newmont Mining Finance Pty Ltd	Australian Capital Territory		100	%
Newmont Mining Holdings Pty Ltd	South Australia		100	%
Newmont Exploration Pty Ltd	Victoria, Australia		100	%
Newmont Gold Pty Ltd	Western Australia		100	%
GMK Investments Pty Ltd	South Australia		100	%
GMKI Pty Ltd	Australian Capital Territory		100	%
GPS Finance Pty Ltd	Australian Capital Territory		100	%
Newmont Power Pty Ltd	South Australia		100	%
NP Kalgoorlie Pty Ltd	South Australia		100	%
Goldfields Power Pty Ltd	Western Australia		50	%
Newmont Yandal Operations Pty Ltd	Victoria, Australia		12.557	%
Great Central Holdings Pty Ltd	Victoria, Australia		100	%
Eagle Mining Pty Ltd	Western Australia		100	%
Hunter Resources Pty Ltd	Queensland, Australia		100	%
Quotidian No. 117 Pty Ltd	New South Wales, Australia		100	%
Matlock Mining Pty Ltd	Western Australia		46.5	%
Matlock Mining Pty Ltd	Western Australia		53.5	%
Australian Metals Corporation Pty Ltd	Western Australia		100	%
Great Central Mines Pty Ltd	Western Australia		100	%
Matlock Castellano Pty Ltd	Western Australia		100	%
Great Central Investments Pty Ltd	Victoria, Australia		100	%
Newmont Wiluna Mines Pty Ltd	Western Australia		100	%
Newmont Wiluna Gold Pty Ltd	Queensland, Australia		100	%
Newmont Wiluna Metals Pty Ltd	Western Australia		100	%
Newmont Finance Pty Ltd	South Australia		100	%
Newmont GMK Holdings Pty Ltd	Western Australia		100	%
Kalgoorlie Lake View Pty Ltd	Victoria, Australia		100	%
Kalgoorlie Consolidated Gold Mines Pty Ltd	Western Australia		50	%
Norkal Pty Ltd	Western Australia		100	%
Macapa Pty Ltd	Western Australia		100	%
North Kalgurli Mines Pty Ltd	Western Australia		100	%
Newmont GRPL Pty Ltd	Western Australia		100	%
Newmont Gold Exploration Pty Ltd	Western Australia		100	%
Newmont Gold Marketing & Finance Pty Ltd	South Australia		100	%
Australian Gold Alliance Pty Ltd	South Australia		100	%

1

Name	Incorporation	Ownership
Newmont Gold Treasury Pty Ltd	Australian Capital Territory		100	%
Newmont Group Finance Pty Ltd	South Australia		100	%
Newmont NGL Holdings Pty Ltd	Northern Territory, Australia		100	%
Newmont Boddington Holdings Pty Ltd	South Australia		100	%
Newmont Boddington Investments Pty Ltd	South Australia		100	%
Newmont Boddington Pty Ltd	South Australia		100	%
Newmont Boddington Gold Pty Ltd	Western Australia		100	%
Newmont Kaltails Pty Ltd	Victoria, Australia		100	%
Newmont Pajingo Pty Ltd	Western Australia		100	%
Newmont Tanami Pty Ltd	South Australia		57.39	%
Otter Gold Mines Pty Ltd	Victoria, Australia		100	%
Otter Gold Pty Ltd	New South Wales, Australia		100	%
Wirralie Gold Mines Pty Ltd	Queensland, Australia		100	%
Newmont Pacific Energy Pty Ltd	Western Australia		100	%
Yandal Gold Holdings Pty Ltd	Victoria, Australia		100	%
Yandal Gold Pty Ltd	Victoria, Australia		100	%
Newmont Yandal Operations Pty Ltd	Victoria, Australia		59.6361	%
Newmont International Exploration Pty Ltd	South Australia		100	%
Newmont Asia Pty Ltd	South Australia		100	%
Kepala Burung Offshore Pty Ltd	Victoria, Australia		36.11	%
Newmont International Holdings Pty Ltd	South Australia		100	%
Newmont Mining Services Pty Ltd	South Australia		100	%
Newmont Australia Superannuation Plan Pty Ltd	South Australia		100	%
Newmont Pacific Pty Ltd	New South Wales, Australia		100	%
Newmont Tanami Pty Ltd	South Australia		42.61	%
Newmont Woodcutters Pty Ltd	New South Wales, Australia		100	%
Newmont Yandal Operations Pty Ltd	Victoria, Australia		27.8069	%
Newmont Capital Limited	Nevada, USA		88.65	%
Fronteer Development (USA) Inc.	Delaware, USA		89	%
Fronteer Development LLC	Delaware, USA		100	%
Fronteer Royalty LLC	Delaware, USA		100	%
Nevada Eagle Resources LLC	Nevada, USA		100	%
Pittston Nevada Gold Company, Ltd.	Nevada, USA		100	%
Newmont USA Limited	Delaware, USA		100	%
Battle Mountain Gold Company	Nevada, USA		100	%
Battle Mountain Exploration Company	Texas, USA		100	%
Battle Mountain Resources Inc.	Nevada, USA		100	%
Empresa Minera Maria SRL	Bolivia		75.4266	%
Minera BMG	Nevada, USA		100	%
Minera Choluteca S.A. de C.V.	Honduras		50	%
Newmont Australia Investment Limited	Delaware, USA		100	%
Newmont Bolivia Limited	Nevada, USA		100	%
Empresa Minera La Joya S.R.L.	Bolivia		75.5	%
Newmont Canada Corporation	Nova Scotia		11.7577	%
PT Newmont Minahasa Raya	Indonesia		80	%
Silidor Mines Inc.	Quebec		100	%
Newmont McCoy Cove Limited	Nevada, USA		100	%
Newmont Nova Scotia ULC	Nova Scotia		100	%
Dawn Mining Company LLC	Delaware, USA		51	%
Elko Land and Livestock Company	Nevada, USA		100	%
Hospah Coal Company	Delaware, USA		100	%
Idarado Mining Company	Delaware, USA		80.2	%
Idarado Legacy, LLC	Colorado, USA		80	%
Minera El Bermejal S. de R.L. de C.V.	Mexico		44	%
Minera Newmont (Chile) Limitada	Chile		99.24	%
Minera Penmont S. de R.L. de C.V.	Mexico		44	%
Newmont (Uzbekistan) Limited	Cyprus		60	%
Newmont de Mexico, S.A. de C.V.	Mexico		99	%

2

Name	Incorporation	Ownership
Newmont Global Employment Limited Partnership	Bermuda		99	%
Newmont Gold Company	Delaware, USA		100	%
Newmont GTR LLC	Nevada, USA		100	%
Newmont Indonesia Investment Limited	Delaware, USA		100	%
Newmont Indonesia Limited	Delaware, USA		100	%
Newmont Nusa Tenggara Holdings B.V.	Netherlands		100	%
Nusa Tenggara Partnership (VOF)	Netherlands		56.25	%
Nusa Tenggara Partnership B.V.	Netherlands		100	%
PT Newmont Nusa Tenggara	Indonesia		56	%
PT Bhinneka Investama Indonesia	Indonesia		27.56	%
PT Investama Utama Indonesia	Indonesia		51	%
PT Investama Utama Indonesia	Indonesia		27.56	%
Newmont International Services Limited	Delaware, USA		100	%
Newmont Global Employment Limited Partnership	Bermuda		1	%
PT Newmont Pacific Nusantara	Indonesia		1	%
Newmont Kazakhstan Gold Limited	Delaware, USA		100	%
Newmont Latin America Limited	Delaware, USA		100	%
Minera Los Tapados S.A.	Peru		.0144	%
Minera Newmont (Chile) Limitada	Chile		.76	%
Newmont de Mexico S.A. de C.V.	Mexico		1	%
Newmont Midas Holdings Limited	Nevada, USA		100	%
Newmont Midas Operations Inc.	Nevada, USA		100	%
Newmont Nevada Energy Investment LLC	Delaware, USA		100	%
Newmont North America Exploration Limited	Delaware, USA		100	%
Newmont Overseas Exploration Limited	Delaware, USA		100	%
PT Newmont Pacific Nusantara	Indonesia		99	%
Suriname Gold Company, LLC	Delaware, USA		50	%
Newmont Peru Limited	Delaware, USA		100	%
Minera Los Tapados S.A.	Peru		99.9856	%
Newmont Investment Holdings LLC	Delaware, USA		100	%
Newmont Peru S.R.L.	Peru		.00026	%
Newmont Peru S.R.L.	Peru		99.99974	%
Minera Chaupiloma Dos de Cajamarca S.R.L.	Peru		40	%
Newmont Realty Company	Delaware, USA		100	%
Newmont Second Capital Corporation	Delaware, USA		100	%
Minera Yanacocha S.R.L.	Peru		51.35	%
Newmont Mines Limited	Delaware, USA		100	%
Newmont Technologies Limited	Nevada, USA		100	%
New Verde Mines LLC	Delaware, USA		100	%
Resurrection Mining Company	Delaware, USA		100	%
San Juan Basin Coal Holding Company	Delaware, USA		100	%
Santa Fe Pacific Gold Corporation	Delaware, USA		100	%
Waihi Gold Company Limited	New Zealand		14.3	%
Newmont FH B.V.	Netherlands		100	%
Fronteer de Mexico S. A. de C.V.	Mexico		100	%
Newmont Canada Holdings ULC	British Columbia		100	%
Butterpot Resources ULC	British Columbia		100	%
Fronteer Development (USA) Inc.	Delaware, USA		11	%
West Pequop LLC	Nevada, USA		49	%
Pequop Exploration LLC	Nevada, USA		100	%
Fronteer Holdings Inc.	Cayman Islands		100	%
Newmont Holdings ULC	Nova Scotia		1	%
Newmont Holdings ULC	Nova Scotia		99	%
Minera La Zanja S.R.L.	Peru		47	%
Newmont Canada FN Holdings ULC	British Columbia		100	%
1461160 Alberta Ltd.	Alberta, Canada		50	%
Newmont Canada Corporation	Nova Scotia		88.2423	%
Newmont Northern Mining ULC	British Columbia		100	%

3

Name	Incorporation	Ownership
Miramar Northern Mining Ltd.	British Columbia		100	%
Con Exploration Ltd.	British Columbia		100	%
Hope Bay Mining Ltd.	British Columbia		100	%
Miramar HBG Inc.	Quebec		100	%
Vol Mines Limited	British Columbia		67	%
Newmont Mining B.C. ULC	British Columbia		100	%
Newmont Capital Limited	Nevada, USA		11.35	%
Miramar Gold Corporation	Nevada, USA		100	%
Orcana Resources Inc.	Nevada, USA		100	%
Talapoosa Mining Inc.	Nevada, USA		100	%
Newmont Mining Corporation of Canada Limited	British Columbia		100	%
Newmont NE Holdings Subco Limited	British Columbia		100	%
Newmont Investment Pte Ltd	Singapore		100	%
Newmont LaSource SAS	France		16.70	%
Newmont Mineral Holdings B.V.	Netherlands		100	%
European Gold Refineries Holding SA	Switzerland		60.64	%
Valcambi SA	Switzerland		100	%
Newmont Ventures Limited	Delaware, USA		100	%
Newmont (Guyana) Incorporated	Guyana		100	%
Newmont Services U.K. Limited	United Kingdom		100	%
NVL (Guinee) SARL	Guinea		100	%
NVL (USA) Limited	Delaware, USA		100	%
NVL Caucasus Limited LLC	Armenia		100	%
NVL Cote D’Ivoire SARL	Ivory Coast		100	%
NVL Haiti Limited S.A.	Haiti		100	%
NVL PNG Limited	Papua New Guinea		100	%
NVL Saramacca Mining LLC	Delaware, USA		100	%
NVL Solomon Islands Limited	Solomon Islands		100	%
Saddleback Investments Pty Ltd	Australia		100	%
Newmont Waihi Gold Limited	New Zealand		100	%
Waihi Gold Company Limited	New Zealand		86	%
Newmont (Uzbekistan) Limited	Cyprus		40	%
Normandy Overseas Holding Company Sdn Bhd	Malaysia		100	%
Normandy Company (Malaysia) Sdn Bhd	Malaysia		100	%
Newmont International Group BV	Netherlands		100	%
Newmont LaSource SAS	France		66.3748	%
Newmont Latin America Inc.	Ontario		100	%

4

EX-23.1

Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the Registration Statements on Form S-3 Nos. 333-161915 and 333-178504 and Registration Statements on Form S-8 Nos. 333-69145, 333-124653, 333-75993, 333-64795, 333-04161, 333-86530, 333-38178, 333-140819, 333-118693 and 333-171298 of Newmont Mining Corporation of our report dated February 23, 2012 relating to the consolidated financial statements and the effectiveness of internal control over financial reporting, which appears in this Form 10-K.

/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Denver, Colorado

February 23, 2012

EX-24

Exhibit 24

POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Stephen P. Gottesfeld, Logan H. Hennessey and Nancy Lipson, each of them acting individually, his or her true and lawful attorney-in-fact and agent, with full power of substitution and revocation, in his or her name and on his or her behalf, to do any and all acts and things and to execute any and all instruments which said attorney-in-fact and agent may deem necessary or advisable to enable Newmont Mining Corporation to comply with the Securities Exchange Act of 1934, as amended (the “Act”), and any rules, regulations or requirements of the Securities and Exchange Commission in respect thereof, including, without limitation, the power and authority to sign his or her name in any and all capacities (including his or her capacity as an Officer of Newmont Mining Corporation) to the Annual Report on Form 10-K of Newmont Mining Corporation for the fiscal year ended December 31, 2011 and any amendments thereto and the undersigned hereby ratifies and confirms all that said attorney-in-fact and agent shall lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, the undersigned have subscribed these presents as of the 23^rd day of February, 2012.

Signature	Title
/s/ Glen A. Barton	Director
Glen A. Barton
/s/ Bruce R. Brook	Director
Bruce R. Brook
/s/ Vincent A. Calarco	Non-Executive Chairman
Vincent A. Calarco
/s/ Joseph A. Carrabba	Director
Joseph A. Carrabba
/s/ Noreen Doyle	Director
Noreen Doyle
/s/ Veronica M. Hagen	Director
Veronica M. Hagen

/s/ Michael S. Hamson	Director
Michael S. Hamson
/s/ Jane Nelson	Director
Jane Nelson
/s/ Richard T. O’Brien	Director, President and Chief Executive Officer
Richard T. O’Brien	(Principal Executive Officer)
/s/ John B. Prescott	Director
John B. Prescott
/s/ Donald C. Roth	Director
Donald C. Roth
/s/ Simon R. Thompson	Director
Simon R. Thompson
/s/ Russell D. Ball	Executive Vice President and Chief Financial Officer
Russell D. Ball	(Principal Financial Officer)
/s/ David Ottewell	Vice President and Controller
David Ottewell	(Principal Accounting Officer)

-2-

EX-31.1

Exhibit 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

(Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002)

I, Richard T. O’Brien, certify that:

1. I have reviewed this Annual Report on Form 10-K of Newmont Mining Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/S/ RICHARD T. O’BRIEN

Richard T. O’Brien

Chief Executive Officer

February 23, 2012

EX-31.2

Exhibit 31.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

(Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002)

I, Russell Ball, certify that:

1. I have reviewed this Annual Report on Form 10-K of Newmont Mining Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/S/ RUSSELL BALL

Russell Ball

Chief Financial Officer

February 23, 2012

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

(Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002)

In connection with the Annual Report on Form 10-K for the year ended December 31, 2011 of Newmont Mining Corporation (the “Company”) as filed with the Securities and Exchange Commission on the date hereof (the “Report”) and pursuant to 18. U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, I, Richard T. O’Brien, Chief Executive Officer of the Company, certify, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/S/ RICHARD T. O’BRIEN

Richard T. O’Brien

Chief Executive Officer

February 23, 2012

Note: A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

(Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002)

In connection with the Annual Report on Form 10-K for the year ended December 31, 2011 of Newmont Mining Corporation (the “Company”) as filed with the Securities and Exchange Commission on the date hereof (the “Report”) and pursuant to 18. U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, I, Russell Ball, Chief Financial Officer of the Company, certify, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/S/ RUSSELL BALL

Russell Ball

Chief Financial Officer

February 23, 2012

Note: A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-95

Exhibit 95

Mine Safety Disclosure

The following disclosures are provided pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”) and Item 104 of Regulation S-K, which requires certain disclosures by companies required to file periodic reports under the Securities Exchange Act of 1934, as amended, that operate mines regulated under the Federal Mine Safety and Health Act of 1977 (the “Mine Act”). The disclosures reflect our U.S. mining operations only as the requirements of the Act and Item 104 of Regulation S-K do not apply to our mines operated outside the United States.

Mine Safety Information. Whenever the Federal Mine Safety and Health Administration (“MSHA”) believes a violation of the Mine Act, any health or safety standard or any regulation has occurred, it may issue a citation which describes the alleged violation and fixes a time within which the U.S. mining operator (e.g. our subsidiary, Newmont USA Limited) must abate the alleged violation. In some situations, such as when MSHA believes that conditions pose a hazard to miners, MSHA may issue an order removing miners from the area of the mine affected by the condition until the alleged hazards are corrected. When MSHA issues a citation or order, it generally proposes a civil penalty, or fine, as a result of the alleged violation, that the operator is ordered to pay. Citations and orders can be contested and appealed, and as part of that process, are often reduced in severity and amount, and are sometimes dismissed. The number of citations, orders and proposed assessments vary depending on the size and type (underground or surface) of the mine as well as by the MSHA inspector(s) assigned.

The below table reflects citations and orders issued to us by MSHA during the year ended December 31, 2011. The proposed assessments for the year ended December 31, 2011 were taken from the MSHA data retrieval system as of February 9, 2012.

Additional information about the Act and MSHA references used in the table follows.

• Section 104 Citations: Citations received from MSHA under section 104 of the Mine Act for violations of mandatory health or safety standards that could significantly and substantially contribute to the cause and effect of a mine safety or health hazard.

• Section 104(b) Orders: Orders issued by MSHA under section 104(b) of the Mine Act, which represents a failure to abate a citation under section 104(a) within the period of time prescribed by MSHA. This results in an order of immediate withdrawal from the area of the mine affected by the condition until MSHA determines that the violation has been abated.

• Section 104(d) Citations and Orders: Citations and orders issued by MSHA under section 104(d) of the Mine Act for unwarrantable failure to comply with mandatory health or safety standards.

• Section 110(b)(2) Violations: Flagrant violations issued by MSHA under section 110(b)(2) of the Mine Act.

• Section 107(a) Orders: Orders issued by MSHA under section 107(a) of the Mine Act for situations in which MSHA determined an “imminent danger” (as defined by MSHA) existed.

Mine(1)(2)	Section 104 Citations(3)		Section 104(b) Orders		Section 104(d) Citations and Orders		Section 110(b)(2) Violations		Section 107(a) Orders		($ in millions) Proposed MSHA Assessments(4)		Fatalities
Chukar		—		—		—		—		—	$	—		—
Deep Post		—		—		—		—		—	$	—		—
Emigrant		3		—		—		—		—	$	—		—
Exodus		28		—		—		—		—	$	0.01		—
Genesis		14		—		—		—		—	$	0.03		—
Leeville		66		—		—		—		—	$	0.07		—
Lone Tree		—		—		—		—		—	$	—		—
Midas		63		—		—		—		—	$	0.05		—
Mill 6		9		—		—		—		—	$	—		—
Pete Bajo		1		—		—		—		—	$	—		—
Phoenix		63		—		—		—		—	$	0.02		—
Sage Mill		11		—		—		—		—	$	—		—
South Area		41		—		—		—		—	$	0.02		—
Twin Creeks		22		—		—		—		—	$	0.01		—
Vista		3		—		—		—		—	$	—		—
TOTAL		324		—		—		—		—	$	0.21		—

(1) The table above reflects citations and orders issued to us by MSHA during the year ended December 31, 2011.

(2) The definition of mine under section 3 of the Mine Act includes the mine, as well as other items used in, or to be used in, or resulting from, the work of extracting minerals, such as land, structures, facilities, equipment, machines, tools and minerals preparation facilities. Unless otherwise indicated, any of these other items associated with a single mine have been aggregated in the totals for that mine. MSHA assigns an identification number to each mine and may or may not assign separate identification numbers to related facilities such as preparation facilities. We are providing the information in the table by mine rather than MSHA identification number because that is how we manage and operate our mining business and we believe this presentation will be more useful to investors than providing information based on MSHA identification numbers.

(3) 324 Section 104 Citations were subject to contest as of December 31, 2011.

(4) Represents the total dollar value of the proposed assessment from MSHA under the Mine Act pursuant to the citations and or orders preceding such dollar value in the corresponding row.

Pattern or Potential Pattern of Violations. During the year ended December 31, 2011, none of the mines operated by us received written notice from MSHA of (a) a pattern of violations of mandatory health or safety standards that are of such nature as could have significantly and substantially contributed to the cause and effect of mine health or safety hazards under section 104(e) of the Mine Act or (b) the potential to have such a pattern.

Pending Legal Actions. The following table reflects pending legal actions before the Federal Mine Safety and Health Review Commission (the “Commission”), an independent adjudicative agency that provides administrative trial and appellate review of legal disputes arising under the Mine Act, as of December 31, 2011, together with the number of legal actions instituted and the number of legal actions resolved during 2011.

Mine(1)	Pending Legal Actions as of 12/31/2011(2)		Legal Actions Instituted During 2011		Legal Actions Resolved During 2011
Chukar		—		—		5
Deep Post		—		—		7
Emigrant		1		1		1
Exodus		2		8		—
Genesis		3		4		6
Leeville		9		10		19
Lone Tree		—		—		2
Midas		9		7		19
Mill 6		2		3		4
Pete Bajo		—		1		—
Phoenix		3		5		2
Sage Mill		1		2		3
South Area		7		5		11
Twin Creeks		4		4		6
Vista		—		1		—
TOTAL		41		51		85

(1) The definition of mine under section 3 of the Mine Act includes the mine, as well as other items used in, or to be used in, or resulting from, the work of extracting minerals, such as land, structures, facilities, equipment, machines, tools and minerals preparation facilities. Unless otherwise indicated, any of these other items associated with a single mine have been aggregated in the totals for that mine. MSHA assigns an identification number to each mine and may or may not assign separate identification numbers to related facilities such as preparation facilities. We are providing the information in the table by mine rather than MSHA identification number because that is how we manage and operate our mining business and we believe this presentation will be more useful to investors than providing information based on MSHA identification numbers.

(2) The foregoing list includes legal actions which were initiated prior to the current reporting period and which do not necessarily relate to citations, orders or proposed assessments issued by MSHA during the year ended December 31, 2011.

Legal actions pending before the Commission may involve, among other questions, challenges by operators to citations, orders and penalties they have received from MSHA or complaints of discrimination by miners under section 105 of the Mine Act. The following is a brief description of the types of legal actions that may be brought before the Commission.

• Contests of Citations and Orders: A contest proceeding may be filed with the Commission by operators, miners or miners’ representatives to challenge the issuance of a citation or order issued by MSHA.

• Contests of Proposed Penalties (Petitions for Assessment of Penalties): A contest of a proposed penalty is an administrative proceeding before the Commission challenging a civil penalty that MSHA has proposed for the alleged violation contained in a citation or order. The validity of the citation may also be challenged in this proceeding as well.

• Complaints for Compensation: A complaint for compensation may be filed with the Commission by miners entitled to compensation when a mine is closed by certain withdrawal orders issued by MSHA. The purpose of the proceeding is to determine the amount of compensation, if any, due miners idled by the orders.

• Complaints of Discharge, Discrimination or Interference: A discrimination proceeding is a case that involves a miner’s allegation that he or she has suffered a wrong by the operator because he or she engaged in some type of activity protected under the Mine Act, such as making a safety complaint.

• Applications for Temporary Relief: An application for temporary relief from any modification or termination of any order or from any order issued under section 104 of the Mine Act.

• Appeals of Judges’ Decisions or Orders to the Commission: A filing with the Commission of a petition for discretionary review of a Judge’s decision or order by a person who has been adversely affected or aggrieved by such decision or order.

The following table reflects the types of legal actions pending before the Commission as of December 31, 2011.

Mine(1)	Contests of Citations and Orders		Contests of Proposed Penalties		Complaints for Compensation		Complaints of Discharge, Discrimination or Interference		Applications for Temporary Relief		Appeals of Judges’ Decisions or Orders to the Commission
Chukar		—		—		—		—		—		—
Deep Post		—		—		—		—		—		—
Emigrant		—		1		—		—		—		—
Exodus		—		5		—		—		—		—
Genesis		—		2		—		—		—		—
Leeville		—		21		—		2		—		—
Lone Tree		—		—		—		—		—		—
Midas		—		16		—		—		—		—
Mill 6		—		4		—		—		—		—
Pete Bajo		—		—		—		—		—		—
Phoenix		—		19		—		—		—		—
Sage Mill		—		1		—		—		—		—
South Area		—		7		—		1		1		—
Twin Creeks		—		9		—		—		—		—
Vista		—		—		—		—		—		—
TOTAL		—		85		—		3		1		—

(1) The definition of mine under section 3 of the Mine Act includes the mine, as well as other items used in, or to be used in, or resulting from, the work of extracting minerals, such as land, structures, facilities, equipment, machines, tools and minerals preparation facilities. Unless otherwise indicated, any of these other items associated with a single mine have been aggregated in the totals for that mine. MSHA assigns an identification number to each mine and may or may not assign separate identification numbers to related facilities such as preparation facilities. We are providing the information in the table by mine rather than MSHA identification number because that is how we manage and operate our mining business and we believe this presentation will be more useful to investors than providing information based on MSHA identification numbers.

XML

Subsequent Events

0 Months Ended

Feb. 15, 2012

Subsequent Events [Abstract]

Subsequent Events

NOTE 33    SUBSEQUENT EVENTS

       On February 15, 2012, the Company's 2012 Convertible Senior Notes matured, which resulted in a cash payment of approximately $640 related to principal, accrued interest andconversion premiums. The Company elected to pay the conversion premium with cash, and therefore no common shares were issued.

XML

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Derivative Instruments (Tables) [Abstract]

Foreign Currency Derivative Contracts Outstanding

		Expected Maturity Date
																	Total/
		2012			2013			2014			2015			2016			Average
A$ Operating Fixed Forward Contracts:
	A$ notional (millions)		1,218			951			665			375			141			3,350
	Average rate ($/A$)		0.91			0.92			0.89			0.87			0.89			0.90
	Expected hedge ratio		76	%		62	%		46	%		26	%		10	%
A$ Capital Fixed Forward Contracts:
	A$ notional (millions)		57			51			22			-			-			130
	Average rate ($/A$)		1.01			0.98			0.96			-			-			0.99
	Expected hedge ratio		42	%		28	%		23	%		-			-
NZ$ Operating Fixed Forward Contracts:
	NZ$ notional (millions)		62			23			-			-			-			85
	Average rate ($/NZ$)		0.75			0.77			-			-			-			0.76
	Expected hedge ratio		48	%		20	%		-			-			-

Diesel Derivative Contracts Outstanding

		Expected Maturity Date
										Total/
		2012			2013			2014		Average
Diesel Fixed Forward Contracts:
	Diesel gallons (millions)		25			11			3		39
	Average rate ($/gallon)		2.81			2.90			2.82		2.84
	Expected Nevada hedge ratio		56	%		24	%		7	%

Fair Values of Derivative Instruments Designated as Hedges

		Fair Values of Derivative Instruments
		At December 31, 2011
		Other Current Assets		Other Long-Term Assets		Other Current Liabilities		Other Long-Term Liabilities
Foreign currency exchange contracts:
	A$ operating fixed forward contracts	$	121	$	112	$	6	$	4
	A$ capital fixed forward contracts		-		-		-		1
	NZ$ operating fixed forward contracts		2		-		1		-
Diesel fixed forward contracts			4		-		2		1
Forward starting swap contracts			-		-		399		-
Total derivative instruments (Notes ##OthAssetsNote and ##OthLiabNote)		$	127	$	112	$	408	$	6
		Fair Values of Derivative Instruments
		At December 31, 2010
		Other Current Assets		Other Long-Term Assets		Other Current Liabilities		Other Long-Term Liabilities
Foreign currency exchange contracts:
	A$ operating fixed forward contracts	$	181	$	114	$	-	$	-
	NZ$ operating fixed forward contracts		5		1		-		-
Diesel fixed forward contracts			7		1		-		-
Interest rate swap contracts			3		-		-		-
Total derivative instruments (Notes ##OthAssetsNote and ##OthLiabNote)		$	196	$	116	$	-	$	-

Location and Amount of Gains (Losses) Reported in Condensed Consolidated Financial Statements

		Foreign Currency Exchange Contracts						Diesel Fixed Forward Contracts
For the years ended December 31,		2011		2010		2009		2011		2010		2009
Cash flow hedging relationships:
	Gain recognized in other comprehensive income (effective portion)	$	151	$	287	$	245	$	6	$	6	$	7
	(1)?	$	188	$	92	$	(6)	$	14	$	4	$	(11)
		Forward Starting Swap Contracts						Treasury Rate Lock Contracts
For the years ended December 31,		2011		2010		2009		2011		2010		2009
Cash flow hedging relationships:
	Gain (loss) recognized in other comprehensive income (effective portion)	$	(399)	$	-	$	-	$	-	$	-	$	11
	(2)?	$	(15)	$	-	$	-	$	-	$	-	$	-

Gains (Losses) Recorded for Hedged Item Related to Fair Value Hedges

		Interest Rate Swap Contracts						8 5/8% Debentures (Hedged Portion)
For the years ended December 31,		2011		2010		2009		2011		2010		2009
Fair value hedging relationships:
	Gain (loss) recognized in income (effective portion) (1)?	$	3	$	6	$	4	$	(6)	$	-	$	(1)
	Gain (loss) recognized in income (ineffective portion)(2)?	$	(2)	$	(4)	$	(3)	$	-	$	2	$	(3)

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Income and Mining Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income and Mining Taxes (Tables) [Abstract]

Income and mining tax (expense) benefit

		Years Ended December 31,
		2011		2010		2009
Current:
	United States	$	(346)	$	(214)	$	(46)
	Foreign		(1,038)		(1,022)		(782)
			(1,384)		(1,236)		(828)
Deferred:
	United States		185		518		42
	Foreign		486		(138)		(43)
			671		380		(1)
		$	(713)	$	(856)	$	(829)

Income before income and mining tax and other items

	Years Ended December 31,
	2011		2010		2009
United States	$	878	$	737	$	291
Foreign		932		3,260		2,663
	$	1,810	$	3,997	$	2,954

Income and mining tax expense reconciliation

			Years Ended December 31,
			2011			2010			2009
Income before income and mining tax and other items			$	1,810		$	3,997		$	2,954
United States statutory corporate income tax rate				35	%		35	%		35	%
Income tax expense computed at United States statutory corporate income tax rate				(634)			(1,399)			(1,034)
Reconciling items:
	Tax benefit generated on change in form of a non-			65			440			-
		U.S. subsidiary
	Percentage depletion			172			151			127
	Change in valuation allowance on deferred tax assets			(263)			18			32
	Mining taxes (net of federal benefit)			(42)			(33)			(27)
	Other			(11)			(33)			73
Income and mining tax expense			$	(713)		$	(856)		$	(829)

Components of deferred tax assets (liabilities)

		Components of the Company's deferred income tax assets (liabilities) are as follows:
			At December 31,
			2011		2010
Deferred income tax assets:
	Property, plant and mine development		$	689	$	158
	Reclamation and remediation			226		193
	Net operating losses, capital losses and tax credits			1,054		1,275
	Investment in partnerships			203		563
	Employee-related benefits			15		49
	Derivative instruments and unrealized loss on investments			308		60
	Other			8		44
				2,503		2,342
	Valuation allowances			(977)		(435)
				1,526		1,907
Deferred income tax liabilities:
	Property, plant and mine development			(1,362)		(1,370)
	Net undistributed earnings of subsidiaries			(198)		(237)
	Derivative instruments and unrealized gain on investments			(69)		(160)
	Other			(93)		(68)
				(1,722)		(1,835)
Net deferred income tax assets (liabilities)			$	(196)	$	72

Net deferred tax assets and liabilities

	Net deferred income tax assets and liabilities consist of:
		At December 31,
		2011		2010
Current deferred income tax assets		$	396	$	177
Long-term deferred income tax assets			1,605		1,437
Current deferred income tax liabilities			(50)		(54)
Long-term deferred income tax liabilities			(2,147)		(1,488)
		$	(196)	$	72

Reconciliation of gross unrecognized tax benefits

		2011		2010		2009
Total amount of gross unrecognized tax benefits at
	beginning of year	$	116	$	130	$	181
Additions for tax positions of prior years			160		3		(21)
Additions for tax positions of current year			64		-		3
Reductions due to settlements with taxing authorities			-		(9)		(27)
Reductions due to lapse of statute of limitations			(4)		(8)		(6)
Total amount of gross unrecognized tax benefits at end of
	year	$	336	$	116	$	130

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Reclamation and Remediation (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Reconciliation of Reclamation and Remediation Liabilities
Balance at beginning of period	$ 1,048	$ 859
Additions, changes in estimates and other	176	188
Liabilities settled	(43)	(51)
Accretion expense	59	52
Balance at end of period	1,240	1,048	859
Reclamation and Remediation Expenses
Reclamation	61	13	13
Accretion - operating	50	44	34
Accretion - non-operating	9	8	12
Reclamation and remediation expense, total	120	65	59
Reclamation And Remediation (Textuals) [Abstract]
Accrued for reclamation obligations relating to mineral properties	1,070	904
Accrued obligation associated with former, primarily historic, mining activities	170	144
Reclamation and remediation liabilities, current	71	64
Additions, changes in estimates and other	176	188
Operating [Member]
Reconciliation of Reclamation and Remediation Liabilities
Additions, changes in estimates and other	139	186
Reclamation And Remediation (Textuals) [Abstract]
Additions, changes in estimates and other	139	186
Nonoperating [Member]
Reconciliation of Reclamation and Remediation Liabilities
Additions, changes in estimates and other	37	2
Reclamation And Remediation (Textuals) [Abstract]
Additions, changes in estimates and other	37	2
Marketable Debt Securities Long-Term [Member]
Reclamation And Remediation (Textuals) [Abstract]
Asset retirement obligation restricted assets	11	10
Marketable Equity Securities Long-Term [Member]
Reclamation And Remediation (Textuals) [Abstract]
Asset retirement obligation restricted assets	4	6
Restricted Cash [Member]
Reclamation And Remediation (Textuals) [Abstract]
Asset retirement obligation restricted assets	$ 11	$ 12

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Investments (Tables)

12 Months Ended

Dec. 31, 2011

Investments (Tables) [Abstract]

Investment in Marketable Securities

NOTE ##InvestNote    INVESTMENTS
				At December 31, 2011
				Cost/Equity		Unrealized				Fair/Equity
				Basis		Gain		Loss		Basis
	Current:
		Marketable Equity Securities:
			Paladin Energy Ltd.	$	60	$	13	$	-	$	73
			Other		15		7		(1)		21
				$	75	$	20	$	(1)	$	94
	Long-term:
		Marketable Debt Securities:
			Asset backed commercial paper	$	25	$	-	$	(6)	$	19
			Auction rate securities		7		-		(2)		5
			Corporate		10		1		-		11
					42		1		(8)		35
		Marketable Equity Securities:
			Canadian Oil Sands Trust		302		401		-		703
			Gabriel Resources Ltd.		76		236		-		312
			Regis Resources Ltd.		36		218		-		254
			Other		92		16		(17)		91
					506		871		(17)		1,360
		Other investments, at cost			11		-		-		11
		Investment in Affiliates:
			La Zanja		66		-		-		66
				$	625	$	872	$	(25)	$	1,472

			At December 31, 2010
			Cost/Equity		Unrealized				Fair/Equity
			Basis		Gain		Loss		Basis
Current:
	Marketable Equity Securities:
		New Gold Inc.	$	5	$	54	$	-	$	59
		Other		19		35		-		54
			$	24	$	89	$	-	$	113
Long-term:
	Marketable Debt Securities:
		Asset backed commercial paper	$	25	$	-	$	(6)	$	19
		Auction rate securities		7		-		(2)		5
		Corporate		7		3		-		10
				39		3		(8)		34
	Marketable Equity Securities:
		Canadian Oil Sands Trust		308		508		-		816
		Gabriel Resources Ltd.		78		325		-		403
		Regis Resources Ltd.		23		148		-		171
		Other		39		37		-		76
				448		1,018		-		1,466
	Other investments, at cost			11		-		-		11
	Investment in Affiliates:
		La Zanja		57		-		-		57
			$	555	$	1,021	$	(8)	$	1,568

Gross Unrealized Losses and Fair Value of the Company's Investments

		Less than 12 Months				12 Months or Greater				Total
At December 31, 2011		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Asset backed commercial paper	$	-	$	-	$	19	$	6	$	19	$	6
Auction rate securities		-		-		5		2		5		2
Marketable equity securities		42		18		-		-		42		18
	$	42	$	18	$	24	$	8	$	66	$	26
		Less than 12 Months				12 Months or Greater				Total
At December 31, 2010		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Asset backed commercial paper	$	-	$	-	$	19	$	6	$	19	$	6
Auction rate securities		-		-		5		2		5		2
	$	-	$	-	$	24	$	8	$	24	$	8

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Discontinued Operations (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Discontinued Operations (Textuals)
Income (loss) from discontinued operations	$ (136)	$ (28)	$ (16)
Discontinued operation income statement [Abstract]
Sales	0	0	32
Income (loss) from operations	0	0	1
Nonoperating gain (loss)	(143)	(40)	(44)
Pre-tax income (loss)	(143)	(40)	(43)
Income tax benefit	7	12	27
Income (loss) from discontinued operations	(136)	(28)	(16)
Net cash provided from (used in) discontinued operations [Abstract]
Income (loss) from discontinud operations	136	28	16
Amortization	0	0	3
Deferred income taxes	(7)	(12)	(28)
Impairment of assets held for sale	0	0	44
Other operating adjustments and write-downs	0	0	7
Increase (decrease) in net operating liabilities	136	27	23
Net cash provided from (used in) discontinued operations	(7)	(13)	33
Net cash used in financing activities of discontinued operations [Abstract]
Discontinued Operations Debt Repayment	0	0	2
Net cash used in financing activities of discontinued operations	$ 0	$ 0	$ (2)

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Employee Related Benefits (Tables)

12 Months Ended

Dec. 31, 2011

Employee Related Benefits (Tables) [Abstract]

Current and Long-Term Employee-Related Benefits

NOTE ##PensionNote EMPLOYEE RELATED BENEFITS
			At December 31,
			2011		2010
	Current:
		Accrued payroll and withholding taxes	$	204	$	189
		Peruvian workers’ participation		42		49
		Employee pension benefits		5		6
		Other post-retirement plans		3		3
		Accrued severance		3		2
		Other employee-related payables		50		39
			$	307	$	288
			At December 31,
			2011		2010
	Long-term:
		Employee pension benefits	$	227	$	127
		Other post-retirement benefit plans		104		92
		Accrued severance		96		73
		Peruvian workers’ participation		17		18
		Other employee-related payables		15		15
			$	459	$	325

Benefit Obligations and Assets

		Pension Benefits				Other Benefits
		2011		2010		2011		2010
Change in Benefit Obligation:
	Benefit obligation at beginning of year	$	681	$	580	$	95	$	95
	Service cost		25		21		2		2
	Interest cost		39		36		5		6
	Actuarial (gain) loss		66		68		7		(6)
	Amendments		-		2		-		-
	Foreign currency exchange loss		-		2		-		-
	Settlement payments		(14)		(1)		-		-
	Benefits paid		(25)		(27)		(2)		(2)
	Projected benefit obligation at end of year	$	772	$	681		N/A		N/A
Accumulated Benefit Obligation		$	554	$	543	$	107	$	95
Change in Fair Value of Assets:
	Fair value of assets at beginning of year	$	559	$	372	$	-	$	-
	Actual return on plan assets		(7)		53		-		-
	Employer contributions		27		161		2		2
	Foreign currency exchange gain		-		1		-		-
	Settlement payments		(14)		(1)		-		-
	Benefits paid		(25)		(27)		(2)		(2)
	Fair value of assets at end of year	$	540	$	559	$	-	$	-
	Unfunded status, net	$	232	$	122	$	107	$	95

Net Amounts Recognized in the Consolidated Balance Sheets

		Pension Benefits				Other Benefits
		2011		2010		2011		2010
Accrued employee benefit liability		$	232	$	122	$	107	$	95
Accumulated other comprehensive income (loss):
	Net actuarial gain (loss)	$	(349)	$	(263)	$	6	$	12
	Prior service credit (cost)		(7)		(8)		4		5
			(356)		(271)		10		17
	Less: Income taxes		125		95		(4)		(6)
		$	(231)	$	(176)	$	6	$	11

Net Periodic Pension and Other Benefits Costs

	Pension Benefit Costs						Other Benefit Costs
	2011		2010		2009		2011		2010		2009
Service cost	$	25	$	21	$	18	$	2	$	2	$	2
Interest cost		39		36		32		5		6		5
Expected return on plan assets		(42)		(32)		(29)		-		-		-
Amortization, net		26		17		16		(1)		(1)		(1)
	$	48	$	42	$	37	$	6	$	7	$	6

Components Recognized In Other Comprehensive Income (Loss)

		Pension Benefits						Other Benefits
		2011		2010		2009		2011		2010		2009
Net gain (loss)		$	(111)	$	(41)	$	7	$	(6)	$	5	$	(1)
Amortization, net			26		17		16		(1)		(1)		(1)
	Total recognized in Other comprehensive income (loss)	$	(85)	$	(24)	$	23	$	(7)	$	4	$	(2)
	Total recognized in net periodic benefit cost and Other comprehensive income (loss)	$	(133)	$	(66)	$	(14)	$	(13)	$	(3)	$	(7)

Significant Assumptions Used in Measuring the Benefit Obligation

Significant assumptions were as follows:
			Pension Benefits				Other Benefits
			At December 31,				At December 31,
			2011		2010		2011		2010
	Weighted-average assumptions used in measuring the Company’s benefit obligation:
		Discount rate	5.35	%	5.75	%	5.35	%	5.75	%
		Rate of compensation increase	5.00	%	5.00	%	5.00	%	5.00	%

Significant Assumptions Used in Measuring the Net Periodic Pension Benefit Cost

		Pension Benefits						Other Benefits
		Years Ended December 31,						Years Ended December 31,
		2011		2010		2009		2011		2010		2009
Weighted-average assumptions used in measuring the net periodic pension benefit cost:
	Discount long-term rate	5.75	%	6.10	%	6.05	%	5.75	%	6.10	%	6.05	%
	Expected return on plan assets	8.00	%	8.00	%	8.00	%	N/A		N/A		N/A
	Rate of compensation increase	5.00	%	5.00	%	5.00	%	5.00	%	5.00	%	5.00	%

Asset Allocation

			Actual at
			December 31,
Asset Allocation	Target		2011
U.S. equity investments	33	%	35	%
International equity investments	24	%	24	%
Fixed income investments	35	%	33	%
Other	8	%	8	%

Fair Value of Plan Assets

		Fair Value at December 31, 2011
		Level 1		Level 2		Level 3		Total
Plan Assets:
	Cash and cash equivalents	$	1	$	-	$	-	$	1
	Commingled funds		-		539		-		539
		$	1	$	539	$	-	$	540
		Fair Value at December 31, 2010
		Level 1		Level 2		Level 3		Total
Plan Assets:
	Cash and cash equivalents	$	2	$	-	$	-	$	2
	Commingled funds		-		557		-		557
		$	2	$	557	$	-	$	559

Effect of One Percentage Point Change in Assumed Health Care Cost Trend Rates

	One-percentage-point		One-percentage-point
	Increase		Decrease
Effect on total of service and interest cost components of net periodic post-retirement health care benefit cost	$	1	$	(1)
Effect on the health care component of the accumulated post-retirement benefit obligation	$	17	$	(14)

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Net Change in Operating Assets and Liabilities

12 Months Ended

Dec. 31, 2011

Net Change in Operating Assets and Liabilities [Abstract]

NET CHANGE IN OPERATING ASSETS AND LIABILITIES

NOTE 27 NET CHANGE IN OPERATING ASSETS AND LIABILITIES

Net cash provided from operations attributable to the net change in operating assets and liabilities is composed of the following:

		Years Ended December 31,
		2011		2010		2009
Decrease (increase) in operating assets:
	Trade and accounts receivable	$	52	$	(153)	$	42
	Inventories, stockpiles and ore on leach pads		(495)		(501)		(378)
	EGR refinery assets		(266)		116		(508)
	Other assets		(51)		(87)		(19)
Increase (decrease) in operating liabilities:
	Accounts payable and other accrued liabilities		226		38		177
	EGR refinery liabilities		266		(116)		508
	Reclamation liabilities		(43)		(51)		(49)
		$	(311)	$	(754)	$	(227)

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Net Income Attributable to Noncontrolling Interests (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Mar. 31, 2008	Mar. 31, 2007	Mar. 31, 2006	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Net Income Attributable to Noncontrolling Interests (Textuals) [Abstract]
Sale and transfer of shares of interest in PTNNT, percent	7.00%	7.00%	7.00%	7.00%	3.00%	7.00%	17.00%
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Sale Of Interest By Parent						$ 0	$ 16	$ 63
Share transfers gains tax						0	33	115
Additional effective economic interest in PTNNT, In percent						17.00%
Noncontrolling interest, ownership percentage by noncontrolling owners						20.00%
Ownership interest in subsidiaries						56.00%	63.00%	80.00%
Other						(7)	(2)	(3)
Net income attributable to noncontrolling interests						606	839	796
Yanacocha [Member]
Net Income Attributable to Noncontrolling Interests (Textuals) [Abstract]
Ownership interest in subsidiaries						51.35%
Net income attributable to noncontrolling interests						326	292	354
Batu Hijau [Member]
Net Income Attributable to Noncontrolling Interests (Textuals) [Abstract]
Ownership interest in subsidiaries						31.50%
Effective economic interest percent						48.50%
Net income attributable to noncontrolling interests						287	549	445
PTIMI [Member]
Net Income Attributable to Noncontrolling Interests (Textuals) [Abstract]
Noncontrolling interest, ownership percentage by noncontrolling owners						2.20%
Compania de Minas Buenaventura SAA [Member]
Net Income Attributable to Noncontrolling Interests (Textuals) [Abstract]
Noncontrolling interest, ownership percentage by noncontrolling owners						43.65%
International Finance Corporation [Member]
Net Income Attributable to Noncontrolling Interests (Textuals) [Abstract]
Noncontrolling interest, ownership percentage by noncontrolling owners						5.00%
Newmont Mining Corporation [Member]
Net Income Attributable to Noncontrolling Interests (Textuals) [Abstract]
Net income attributable to noncontrolling interests						$ 0	$ 0	$ 0

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Other Income, Net (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Other Income, Net
Gain on sale of investments, net	$ 64	$ 16	$ 8
Income from developing projects, net	42	18	4
Canadian Oil Sands	34	55	26
Refinery income	27	14	14
Gain on asset sales, net	(81)	(64)	(24)
Interest income	11	11	16
Foreign currency exchange losses, net	(4)	(64)	(1)
Impairment of marketable securities	(180)	(1)	(6)
Other	18	14	17
Total	$ 12	$ 109	$ 88

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Debt (Details) (USD $)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Debt
Total Debt Current	$ 689,000,000	$ 259,000,000
Total Debt Non-Current	3,624,000,000	4,182,000,000
Notes Payable Abstract
Additional paid-in capital	8,408,000,000	8,279,000,000
Debt (Textuals)
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	689,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Two	10,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Three	522,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Four	10,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Five	43,000,000
Long-term Debt, Maturities, Repayments of Principal after Year Five	3,039,000,000
Uncollateralized revolving credit facility	2,500
Corporate revolving credit facility amount outstanding	33,000,000
Interest expense	244,000,000	279,000,000	120,000,000
Current [Member]
Debt
Ahafo project facility	10,000,000	10,000,000
Other capital leases	0	2,000,000
Non-Current [Member]
Debt
Ahafo project facility	45,000,000	55,000,000
Other capital leases	1,000,000	1,000,000
Convertible Senior Notes Net Of Discount 2012 [Member]
Debt
Convertible senior notes, net of discount	514,000,000	488,000,000
Notes Payable Abstract
Additional paid-in capital	46,000,000	46,000,000
Principal amount	518,000,000	518,000,000
Unamortized debt discount	(4,000,000)	(30,000,000)
Net carrying amount	514,000,000	488,000,000
Debt (Textuals)
Interest rate, percentage	3.00%
Effective interest rate	8.50%
Estimated fair value		668,000,000
Convertible notes	518,000,000	518,000,000
Convertible notes if-converted value	194,000,000
Convertible Senior Notes Net Of Discount 2012 [Member] | Non-Current [Member]
Debt
Convertible senior notes, net of discount	0	488,000,000
Notes Payable Abstract
Net carrying amount	0	488,000,000
Convertible Senior Notes Net Of Discount 2014 [Member]
Debt
Convertible senior notes, net of discount	512,000,000	489,000,000
Notes Payable Abstract
Additional paid-in capital	97,000,000	97,000,000
Principal amount	575,000,000	575,000,000
Unamortized debt discount	(63,000,000)	(86,000,000)
Net carrying amount	512,000,000	489,000,000
Debt (Textuals)
Interest rate, percentage	1.25%
Effective interest rate	6.00%
Estimated fair value		697,000,000
Convertible notes	575,000,000	575,000,000
Convertible Senior Notes Net Of Discount 2014 [Member] | Non-Current [Member]
Debt
Convertible senior notes, net of discount	512,000,000	489,000,000
Notes Payable Abstract
Net carrying amount	512,000,000	489,000,000
Convertible Senior Notes Net Of Discount 2017 [Member]
Debt
Convertible senior notes, net of discount	452,000,000	434,000,000
Notes Payable Abstract
Additional paid-in capital	123,000,000	123,000,000
Principal amount	575,000,000	575,000,000
Unamortized debt discount	(123,000,000)	(141,000,000)
Net carrying amount	452,000,000	434,000,000
Debt (Textuals)
Interest rate, percentage	1.63%
Effective interest rate	6.25%
Estimated fair value	651,000,000	627,000,000
Convertible notes	575,000,000	575,000,000
Convertible Senior Notes Net Of Discount 2017 [Member] | Non-Current [Member]
Debt
Convertible senior notes, net of discount	452,000,000	434,000,000
Notes Payable Abstract
Net carrying amount	452,000,000	434,000,000
Convertible Senior Notes Net Of Discount 2014 And 2017 [Member]
Notes Payable Abstract
Principal amount	1,150,000,000
Debt (Textuals)
Net proceeds	1,126,000,000
Convertible notes	1,150,000,000
Convertible Senior Notes Net Of Discount [Member]
Debt (Textuals)
Interest expense	32,000,000	32,000,000	30,000,000
Amortization of debt discount	67,000,000	63,000,000	56,000,000
Debt instrument maturity date description	The remaining unamortized debt discount is amortized over the remaining one, three and six year periods of the 2012, 2014 and 2017 convertible senior notes, respectively.
Senior Notes Net Of Discount Due 2019 [Member]
Debt (Textuals)
Interest rate, percentage	5.13%
Principal amount	900,000,000
Estimated fair value	993,000,000	984,000,000
Net proceeds	895,000,000
Senior Notes Net Of Discount Due 2019 [Member] | Non-Current [Member]
Debt
Senior notes, net of discount	896,000,000	896,000,000
Senior Notes Net Of Discount Due 2035 [Member]
Debt (Textuals)
Interest rate, percentage	5.875%
Principal amount	600,000,000
Estimated fair value	680,000,000	624,000,000
Senior Notes Net Of Discount Due 2035 [Member] | Non-Current [Member]
Debt
Senior notes, net of discount	598,000,000	598,000,000
Senior Notes Net Of Discount Due 2039 [Member]
Debt
Senior notes, net of discount	1,087,000,000	1,087,000,000
Debt (Textuals)
Interest rate, percentage	6.25%
Principal amount	1,100,000,000
Estimated fair value	1,299,000,000	1,189,000,000
Net proceeds	1,080,000,000
Yanacocha [Member] | Current [Member]
Debt
Yanacocha credit facility and senior notes	0	0
Yanacocha [Member] | Non-Current [Member]
Debt
Yanacocha credit facility and senior notes	0	0
Sale-Leaseback of Refractory Ore Treatment Plant [Member]
Debt (Textuals)
Minimum Lease Payments Sale Leaseback Transactions	190,000,000	226,000,000
Minimum Lease Payments Sale Leaseback Transactions Within One Year	39,000,000
Minimum Lease Payments Sale Leaseback Transactions Within Two Years	70,000,000
Minimum Lease Payments Sale Leaseback Transactions Within Three Years	36,000,000
Minimum Lease Payments Sale Leaseback Transactions Within Four Years	36,000,000
Minimum Lease Payments Sale Leaseback Transactions Within Five Years	9,000,000
Interest rate, percentage	6.36%
Effective interest rate	6.15%
Sale-leaseback hedging contracts gain	11,000,000
Sale-Leaseback of Refractory Ore Treatment Plant [Member] | Current [Member]
Debt
Sale-leaseback of refractory ore treatment plant	165,000,000	30,000,000
Sale-Leaseback of Refractory Ore Treatment Plant [Member] | Non-Current [Member]
Debt
Sale-leaseback of refractory ore treatment plant	0	134,000,000
Senior Notes 8 5/8% [Member]
Debt (Textuals)
Interest rate, percentage	8.63%
Principal amount	223,000,000
Estimated fair value	399,000,000	242,000,000
Senior Notes 8 5/8% [Member] | Current [Member]
Debt
8 5/8% debentures, net of discount (due 2011)	0
Senior Notes 8 5/8% [Member] | Non-Current [Member]
Debt
8 5/8% debentures, net of discount (due 2011)		0
International Finance Corporation [Member]
Debt (Textuals)
Principal amount	75,000,000
Commercial Lender [Member]
Debt (Textuals)
Principal amount	10,000,000
NGGL [Member]
Debt (Textuals)
Principal amount	85,000,000
Debt instrument interest rate terms	Borrowings bear interest of LIBOR plus 3.5%.
Ahafo Project Facility [Member]
Debt (Textuals)
Interest rate, percentage	3.50%
Corporate Revolving Credit Facility [Member]
Debt (Textuals)
Outstanding Letters Of Credit Under Revolver	244,000,000	153,000,000
PTNNT [Member]
Debt (Textuals)
Interest rate, percentage	4.00%
Outstanding Letters Of Credit Under Revolver	600,000,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	2.00%
Debt Issue Costs	$ 18,000,000

XML

Stockpiles and Ore on Leach Pads (Tables)

12 Months Ended

Dec. 31, 2011

Stockpiles and Ore on Leach Pads (Tables) [Abstract]

Stockpiles and Ore on Leach Pads

NOTE ##StockpilesNote    STOCKPILES AND ORE ON LEACH PADS
			At December 31,
			2011		2010
	Current:
		Stockpiles	$	506	$	389
		Ore on leach pads		165		228
			$	671	$	617
	Long-term:
		Stockpiles	$	1,904	$	1,397
		Ore on leach pads		367		360
			$	2,271	$	1,757

Stockpiles and Ore on Leach Pads, by Segment

		At December 31,
		2011		2010
Stockpiles and ore on leach pads:
	Nevada	$	536	$	479
	La Herradura		6		6
	Yanacocha		512		496
	Boddington		435		248
	Batu Hijau		1,119		879
	Other Australia/New Zealand		161		145
	Ahafo		173		121
		$	2,942	$	2,374

XML

Income and Mining Taxes (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Deferred Tax Liability Not Recognized [Line Items]
Cumulative amount of temporary differences related to investments in foreign subsidiaries	$ 8	$ 7
Income and Mining Taxes Disclosure [Abstract]
Decrease in net unrecognized income tax benefits, lower bound	25
Decrease in net unrecognized income tax benefits, upper bound	30
Income and Mining Taxes (Textuals) [Abstract]
Valuation Allowance, Deferred Tax Asset, Change in Amount	542
Valuation allowance that will not reduce the effective tax rate	10
Mining taxes (net of federal benefit)	42	33	27
Estimated income tax expense	713	856	829
United States statutory corporate income tax rate	35.00%	35.00%	35.00%
Indonesian tax assessment tax and penalties		132
Total gross unrecognized tax benefits	336	116	130
Unrecognized tax benefit, if recognized	137	45	63
Accrued income-tax-related interest and penalties	11	10
Income-tax-related interest and penalties accrued through the Statements of Consolidated Income	1		9
Interest and penalties released		4
Net operating loss carryforwards	1,051	1,220
Tax credit carry forwards	259	168
Foreign tax credits	155	53
Alternative minimum tax credits	104	115
Current Income Tax Expense Benefit [Abstract]
Current: United States	(346)	(214)	(46)
Current: Foreign	(1,038)	(1,022)	(782)
Current income taxes	(1,384)	(1,236)	(828)
Deferred Income Tax Expense Benefit [Abstract]
Deferred: United States	185	518	42
Deferred: Foreign	486	(138)	(43)
Deferred income taxes	671	380	(1)
Income tax expense	(713)	(856)	(829)
Income From Continuing Operations Before Income and Mining Tax Expense and Other Items [Abstract]
Income before income and mining tax and other items	1,810	3,997	2,954
Income Tax Reconciliation [Abstract]
Income before income and mining tax and other items	1,810	3,997	2,954
United States statutory corporate income tax rate	35.00%	35.00%	35.00%
Income tax (expense) benefit computed at United States statutory corporate income tax rate	(634)	(1,399)	(1,034)
Tax benefit generated on change in form of a non-U.S. subsidiary	65	440	0
Percentage depletion	172	151	127
Change in valuation allowance on deferred tax assets	(263)	18	32
Mining taxes (net of federal benefit)	(42)	(33)	(27)
Other	(11)	(33)	73
Income tax expense	(713)	(856)	(829)
Deferred Income Tax Assets [Abstract]
Property, plant and mine development	689	158
Reclamation and remediation costs	226	193
Net operating losses, capital losses and tax credits	1,054	1,275
Investment in partnerships	203	563
Employee-related benefits	15	49
Derivative instruments and unrealized loss on investments	308	60
Other	8	44
Deferred tax assets gross	2,503	2,342
Valuation allowance	(977)	(435)
Deferred tax assets net	1,526	1,907
Deferred Income Tax Liabilties [Abstract]
Property, plant and mine development	(1,362)	(1,370)
Net undistributed earnings of subsidiaries	(198)	(237)
Derivative instruments and unrealized gain on investments	(69)	(160)
Other	(93)	(68)
Deferred tax liabilities	(1,722)	(1,835)
Net deferred income tax assets (liabilities)	(196)	72
Deferred Tax Assets Liabilities Net Abstract
Current deferred income tax assets	396	177
Long-term deferred income tax assets	1,605	1,437
Long-term deferred income tax liabilities	(50)	(54)
Long-term deferred income tax liabilities	(2,147)	(1,488)
Net deferred income tax assets (liabilities)	(196)	72
Reconciliation Of Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward
Total amount of gross unrecognized tax benefits at beginning of year	116	130	181
Additions for tax positions of prior years	160	3	(21)
Additions for tax positions of current year	64	0	3
Reductions due to settlements with taxing authorities	0	(9)	(27)
Reductions due to lapse of statute of limitations	(4)	(8)	(6)
Total amount of gross unrecognized tax benefits at end of year	336	116	130
Batu Hijau [Member]
Income From Continuing Operations Before Income and Mining Tax Expense and Other Items [Abstract]
Income before income and mining tax and other items	890	1,736	1,242
Income Tax Reconciliation [Abstract]
Income before income and mining tax and other items	890	1,736	1,242
Corporate [Member]
Income and Mining Taxes (Textuals) [Abstract]
Indonesian tax assessment tax and penalties	119
Domestic Country Member
Income From Continuing Operations Before Income and Mining Tax Expense and Other Items [Abstract]
Income before income and mining tax and other items	878	737	291
Income Tax Reconciliation [Abstract]
Income before income and mining tax and other items	878	737	291
Foreign Country Member
Income and Mining Taxes (Textuals) [Abstract]
Net operating loss carryforwards	315	857
Income From Continuing Operations Before Income and Mining Tax Expense and Other Items [Abstract]
Income before income and mining tax and other items	932	3,260	2,663
Income Tax Reconciliation [Abstract]
Income before income and mining tax and other items	932	3,260	2,663
Hope Bay Impairment [Member]
Income and Mining Taxes (Textuals) [Abstract]
Valuation Allowance, Deferred Tax Asset, Change in Amount	223
Marketable Securities Impairment [Member]
Income and Mining Taxes (Textuals) [Abstract]
Valuation Allowance, Deferred Tax Asset, Change in Amount	33
Foreign Tax Credits In Equity [Member]
Income and Mining Taxes (Textuals) [Abstract]
Valuation Allowance, Deferred Tax Asset, Change in Amount	$ 32

XML

Stockpiles and Ore on Leach Pads (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Stockpiles And Ore On Leach Pads [Line Items]
Current stockpiles and ore on leach pads	$ 671	$ 617
Long-term stockpiles and ore on leach pads	2,271	1,757
Total stockpiles and ore on leach pads	2,942	2,374
Nevada [Member]
Stockpiles And Ore On Leach Pads [Line Items]
Total stockpiles and ore on leach pads	536	479
La Herradura [Member]
Stockpiles And Ore On Leach Pads [Line Items]
Total stockpiles and ore on leach pads	6	6
Yanacocha [Member]
Stockpiles And Ore On Leach Pads [Line Items]
Total stockpiles and ore on leach pads	512	496
Boddington [Member]
Stockpiles And Ore On Leach Pads [Line Items]
Total stockpiles and ore on leach pads	435	248
Batu Hijau [Member]
Stockpiles And Ore On Leach Pads [Line Items]
Total stockpiles and ore on leach pads	1,119	879
Other Australia New Zealand [Member]
Stockpiles And Ore On Leach Pads [Line Items]
Total stockpiles and ore on leach pads	161	145
Ahafo [Member]
Stockpiles And Ore On Leach Pads [Line Items]
Total stockpiles and ore on leach pads	173	121
Stockpiles [Member]
Stockpiles And Ore On Leach Pads [Line Items]
Current stockpiles and ore on leach pads	506	389
Long-term stockpiles and ore on leach pads	1,904	1,397
Ore On Leach Pads [Member]
Stockpiles And Ore On Leach Pads [Line Items]
Current stockpiles and ore on leach pads	165	228
Long-term stockpiles and ore on leach pads	$ 367	$ 360

XML

Acquisitions (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2010 Boddington [Member]	Dec. 31, 2011 Boddington [Member]	Jun. 25, 2009 Boddington [Member]
Business Acquisition (Textuals) [Abstract]
Boddington final interest acquired					33.33%
Acquisition consideration					$ 982
Contingent consideration cap					100
Contingent consideration arrangements basis for amount	Consideration for the acquisition consisted of $982 and a contingent royalty capped at $100, equal to 50% of the average realized operating margin (Revenue less Costs applicable to sales on a by-product basis), if any, exceeding $600 per ounce, payable quarterly beginning in the second quarter of 2010 on one-third of gold sales from Boddington.
Fair value of contingent consideration				83	54	62
Acquisition transaction costs	22	0	67	67
Aquisition transaction costs paid					15
Contingent consideration cash paid				4	30
Contingent consideration range low					0
Contingent consideration range high					$ 66

XML

Other Assets (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Other current assets:
Refinery metal inventory and receivable	$ 796	$ 617
Derivative instruments	127	196
Other prepaid assets	93	65
Restricted cash	20	1
Note receivable	12	12
Other	85	71
Other current assets, total	1,133	962
Other long-term assets:
Goodwill	188	188
Intangible assets	147	91
Income tax receivable	142	119
Derivative instruments	112	116
Debt issuance costs	59	39
Restricted cash	48	25
Other receivables	17	19
Other	144	144
Other long-term assets, total	$ 857	$ 741

XML

Equity Income (Loss) of Affiliates (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Equity Method Investment Financial Statement Reported Amounts [Abstract]
Equity income (loss) of affiliates	$ 11	$ 3	$ (16)
Equity Income Loss of Affiliates (Textuals)
Newmont equity interest ownership	40.00%
AGR Matthey Joint Venture [Member]
Equity Method Investment Financial Statement Reported Amounts [Abstract]
Equity income (loss) of affiliates	0	3	5
Equity Income Loss of Affiliates (Textuals)
Newmont equity interest ownership	40.00%
Consideration from AGR dissolution		14
Gain from AGR dissolution		6
Dividends from AGR	0	7	2
Regis [Member]
Equity Method Investment Financial Statement Reported Amounts [Abstract]
Equity income (loss) of affiliates	0	0	0
Equity Income Loss of Affiliates (Textuals)
Newmont equity interest ownership			23.15%
La Zanja [Member]
Equity Method Investment Financial Statement Reported Amounts [Abstract]
Equity income (loss) of affiliates	52	10	(4)
Equity Income Loss of Affiliates (Textuals)
Newmont equity interest ownership	46.94%
Euronimba [Member]
Equity Method Investment Financial Statement Reported Amounts [Abstract]
Equity income (loss) of affiliates	$ (41)	$ (10)	$ (17)
Equity Income Loss of Affiliates (Textuals)
Newmont equity interest ownership	43.50%
BHP Billiton [Member]
Equity Income Loss of Affiliates (Textuals)
Equity investment remaining ownership interests	43.50%
Areva [Member]
Equity Income Loss of Affiliates (Textuals)
Equity investment remaining ownership interests	13.00%

XML

Write-Down of Property, Plant and Mine Development (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Write-down of Property Plant and Mine Development
Write-down of property, plant and mine development	$ 2,084	$ 6	$ 7
Writedown of Property Plant and Mine Development (Textuals) [Abstract]
Impairment Of Long Lived Assets Held For Use	2,084	6	7
Hope Bay [Member]
Write-down of Property Plant and Mine Development
Write-down of property, plant and mine development	2,080	0	0
Writedown of Property Plant and Mine Development (Textuals) [Abstract]
Impairment Of Long Lived Assets Held For Use	2,080	0	0
Nevada [Member]
Write-down of Property Plant and Mine Development
Write-down of property, plant and mine development	2	4	1
Writedown of Property Plant and Mine Development (Textuals) [Abstract]
Impairment Of Long Lived Assets Held For Use	2	4	1
Batu Hijau [Member]
Write-down of Property Plant and Mine Development
Write-down of property, plant and mine development	1	1	4
Writedown of Property Plant and Mine Development (Textuals) [Abstract]
Impairment Of Long Lived Assets Held For Use	1	1	4
Yanacocha [Member]
Write-down of Property Plant and Mine Development
Write-down of property, plant and mine development	1	0	1
Writedown of Property Plant and Mine Development (Textuals) [Abstract]
Impairment Of Long Lived Assets Held For Use	1	0	1
Other Australia New Zealand [Member]
Write-down of Property Plant and Mine Development
Write-down of property, plant and mine development	0	1	1
Writedown of Property Plant and Mine Development (Textuals) [Abstract]
Impairment Of Long Lived Assets Held For Use	$ 0	$ 1	$ 1

XML

Inventories

12 Months Ended

Dec. 31, 2011

Inventories [Abstract]

INVENTORIES

NOTE ##InventoriesNote    INVENTORIES
		At December 31,
		2011		2010
	In-process	$	159	$	142
	Concentrate		116		111
	Precious metals		12		4
	Materials, supplies and other		427		401
		$	714	$	658

The Company recorded aggregate write-downs of $27, $9, and $9 for 2011, 2010, and 2009, respectively, to reduce the carrying value of material and supply inventories to net realizablevalue. $17 of the write-downs in 2011 are related to the Hope Bay project and are classified as a component of Other expense, net. The remaining write-downs in 2011, 2010, and 2009 were related to Nevada and Batu Hijau. These inventory write-downs are classified as components of Costs applicable to sales.

XML

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2011

Discontinued Operations (Tables) [Abstract]

Discontinued Operations Income Statement

	Years Ended December 31,
	2011		2010		2009
Sales	$	-	$	-	$	32
Income from operations	$	-	$	-	$	1
Non-operating loss		(143)		(40)		(44)
Pre-tax loss		(143)		(40)		(43)
Income tax benefit		7		12		27
Loss from discontinued operations	$	(136)	$	(28)	$	(16)

Discontinued Operations Statement Cash Flows

		Years Ended December 31,
		2011		2010		2009
Net cash provided from (used in) discontinued operations:
	Loss from discontinued operations	$	(136)	$	(28)	$	(16)
	Amortization		-		-		3
	Deferred income taxes		(7)		(12)		(28)
	Impairment of assets held for sale		-		-		44
	Other operating adjustments and write-downs		-		-		7
	Increase in net operating liabilities		136		27		23
		$	(7)	$	(13)	$	33
Net cash used in financing activities of discontinued operations:
	Repayment of debt	$	-	$	-	$	(2)
		$	-	$	-	$	(2)

XML

Reclamation and Remediation (Tables)

12 Months Ended

Dec. 31, 2011

Reclamation and Remediation (Tables) [Abstract]

Reconciliation of Reclamation and Remediation Liabilities

Balance January 1, 2010	$	859
Additions, changes in estimates and other		188
Liabilities settled		(51)
Accretion expense		52
Balance December 31, 2010		1,048
Additions, changes in estimates and other		176
Liabilities settled		(43)
Accretion expense		59
Balance December 31, 2011	$	1,240

Reclamation and Remediation Expenses

	Years Ended December 31,
	2011		2010		2009
Reclamation	$	61	$	13	$	13
Accretion - operating		50		44		34
Accretion - non-operating		9		8		12
	$	120	$	65	$	59

XML

Stock Based Compensation (Details) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011 years	Dec. 31, 2010 years	Dec. 31, 2009 years	Dec. 31, 2008 years	Dec. 31, 2007 years
Black-Scholes option-pricing model assumptions [Abstract]
Weighted-average risk-free interest rate	2.00%	2.50%	2.00%	3.10%	4.60%
Dividend yield	1.40%	0.70%	1.00%	1.00%	1.00%
Expected life in years	6	5	5	5	5
Volatility	37.00%	38.00%	36.00%	30.00%	32.00%
Stock options activity [Abstract]
Outstanding at beginning of year (number of shares)	5,414,205	6,142,073	6,463,004
Granted (number of shares)	1,276,250	918,343	1,157,825
Exercised (number of shares)	(928,037)	(1,494,686)	(1,204,836)
Forfeited and expired (number of shares)	(281,077)	(151,525)	(273,920)
Outstanding at end of year (number of shares)	5,481,341	5,414,205	6,142,073	6,463,004
Options exercisable at year-end (number of shares)	3,166,178	3,211,115	3,880,866
Outstanding at beginning of year (weighted-average exercise price)	$ 45.36	$ 42.65	$ 42.17
Granted (weighted-average exercise price)	$ 58.72	$ 55.68	$ 39.99
Exercised (weighted-average exercise price)	$ 43.67	$ 40.38	$ 36.24
Forfeited and expired (weighted-average exercise price)	$ 56.56	$ 51.02	$ 50.20
Oustanding at end of year (weighted-average exercise price)	$ 48.40	$ 45.36	$ 42.65	$ 42.17
Options exercisable at year-end (weighted-average exercise price)	$ 46.22	$ 45.50	$ 44.39
Weighted-average fair value of options granted during the year	$ 18.90	$ 20.01	$ 12.88
Stock options outstanding and exercisable [Abstract]
Options outstanding - Number outstanding	5,481,341
Options outstanding - average remaining contractual life (in years)	6.5
Options outstanding - weighted-average exercise price	$ 48.40
Options exercisable - number exercisable	3,166,178
Options exercisable - weighted-average exercise price	$ 46.22
Stock option vesting [Abstract]
Stock options vested	950,119	922,463	795,566
Weighted-average exercise price	$ 46.73	$ 42.16	$ 46.86
Stock Option and Other Stock Based Compensation
Stock based compensation	$ 58	$ 52	$ 40
Stock Based Compensation (Textuals)
Future stock incentive plan awards	8,809,298
Total intrinsic value of options exercised	18	29	16
Aggregate intrinsic value of outstanding stock options	64
Aggregate intrinsic value of exercisable options	44
Weighted-average fair market value of stock		$ 69
Twenty To Thirty [Member]
Stock options outstanding and exercisable [Abstract]
Options outstanding - Number outstanding	360,723
Options outstanding - average remaining contractual life (in years)	5.9
Options outstanding - weighted-average exercise price	$ 26.91
Options exercisable - number exercisable	60,723
Options exercisable - weighted-average exercise price	$ 26.89
Thirty To Forty [Member]
Stock options outstanding and exercisable [Abstract]
Options outstanding - Number outstanding	947,202
Options outstanding - average remaining contractual life (in years)	6.6
Options outstanding - weighted-average exercise price	$ 39.60
Options exercisable - number exercisable	635,585
Options exercisable - weighted-average exercise price	$ 39.43
Forty To Fifty [Member]
Stock options outstanding and exercisable [Abstract]
Options outstanding - Number outstanding	1,730,135
Options outstanding - average remaining contractual life (in years)	4.4
Options outstanding - weighted-average exercise price	$ 44.76
Options exercisable - number exercisable	1,729,185
Options exercisable - weighted-average exercise price	$ 44.76
Fifty to Sixty [Member]
Stock options outstanding and exercisable [Abstract]
Options outstanding - Number outstanding	2,417,490
Options outstanding - average remaining contractual life (in years)	8.0
Options outstanding - weighted-average exercise price	$ 57.46
Options exercisable - number exercisable	740,685
Options exercisable - weighted-average exercise price	$ 57.05
Sixty Plus [Member]
Stock options outstanding and exercisable [Abstract]
Options outstanding - Number outstanding	25,791
Options outstanding - average remaining contractual life (in years)	9.9
Options outstanding - weighted-average exercise price	$ 67.41
Options exercisable - number exercisable	0
Options exercisable - weighted-average exercise price	$ 0
Stock options [Member]
Stock Option and Other Stock Based Compensation
Stock based compensation	19	16	14
Stock Based Compensation (Textuals)
Unrecognized compensation cost related to unvested stock	26
Unvested stock options	2,315,163
Unrecognized compensation cost expected to be recognized on a weighted-average basis, period	3
Restricted Stock Units (RSUs) [Member]
Stock Option and Other Stock Based Compensation
Stock based compensation	27	19	9
Stock Based Compensation (Textuals)
Stock granted	586,944	483,408	450,195
Weighted-average fair market value of stock	$ 57	$ 52	$ 42
Performance leveraged stock units [Member]
Stock Option and Other Stock Based Compensation
Stock based compensation	7	7	0
Stock Based Compensation (Textuals)
Stock granted	102,313	204,732
Weighted-average fair market value of stock	$ 76
Stock shares unvested	102,313	145,601
Restricted stock [Member]
Stock Option and Other Stock Based Compensation
Stock based compensation	1	2	4
Stock Based Compensation (Textuals)
Stock granted			218,697
Stock shares unvested	100,000
Financial performance common stock [Member]
Stock Based Compensation (Textuals)
Stock granted	42,932	64,646
Financial performance restricted stock units [Member]
Stock Based Compensation (Textuals)
Stock granted	85,632	129,302
Financial performance stock [Member]
Stock Based Compensation (Textuals)
Weighted-average fair market value of stock	$ 55	$ 50
Other Stock Based Compensation Awards [Member]
Stock Based Compensation (Textuals)
Unrecognized compensation cost related to unvested stock	35
Unrecognized compensation cost expected to be recognized on a weighted-average basis, period	2
Total Intrinsic Fair Value Of Other Stock Based Compensation	33	28	19
Deferred Compensation, Share-based Payments [Member]
Stock Option and Other Stock Based Compensation
Stock based compensation	$ 4	$ 8	$ 13
Stock Based Compensation (Textuals)
Stock granted			394,095
Weighted-average fair market value of stock			$ 44
Current Year Grants [Member] | Restricted Stock Units (RSUs) [Member]
Stock Based Compensation (Textuals)
Stock shares unvested	537,282
Prior Year Grants [Member] | Restricted Stock Units (RSUs) [Member]
Stock Based Compensation (Textuals)
Stock shares unvested	250,729
Two Prior Years Grants [Member] | Restricted Stock Units (RSUs) [Member]
Stock Based Compensation (Textuals)
Stock shares unvested	99,170

XML

Commitments and Contingencies (Details)	3 Months Ended					12 Months Ended								12 Months Ended		12 Months Ended						12 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Mar. 31, 2008	Mar. 31, 2007	Mar. 31, 2006	Dec. 31, 2011 USD ($)	Dec. 31, 2011 PEN	Dec. 31, 2010 USD ($)	Dec. 31, 2009	Dec. 31, 2011 Yanacocha [Member]	Dec. 31, 2011 Batu Hijau [Member] USD ($)	Dec. 31, 2011 Dawn [Member]	Dec. 31, 2011 NUSA [Member]	Dec. 31, 2011 PTMDB [Member]	Dec. 31, 2011 PTNMR [Member]	Dec. 31, 2011 To PTPI From NIL NTMC [Member] USD ($)	Dec. 31, 2011 NWG Ownership in NewWest Gold [Member]	Dec. 31, 2011 Jacob Safra Ownership In NWG [Member]	Dec. 31, 2011 Fronteer Ownership In Aurora [Member]	Dec. 31, 2011 To NVL From PTPI [Member] USD ($)	Dec. 31, 2011 EPA [Member] USD ($)	Dec. 31, 2011 Minimum royalty payable year one [Member] USD ($)	Dec. 31, 2011 Minimum royalty payable year two [Member] USD ($)	Dec. 31, 2011 Minimum royalty payable year three [Member] USD ($)	Dec. 31, 2011 Minimum royalty payable year four [Member] USD ($)	Dec. 31, 2011 Minimum royalty payable year five [Member] USD ($)	Dec. 31, 2011 Minimum royalty payable thereafter [Member] USD ($)
Commitments and Contingencies (Textuals)
Accrued for reclamation obligations relating to mineral properties						$ 1,070,000,000		$ 904,000,000
Accrued reclamation operating costs current						47,000,000		46,000,000
Accrued obligation associated with former, primarily historic, mining activities						170,000,000		144,000,000
Range of reclamation and remediation liabilities upper limit						122.00%	122.00%
Range of reclamation and remediation liabilities lower limit						8.00%	8.00%
Ownership interest in subsidiaries						56.00%	56.00%	63.00%	80.00%	51.35%	31.50%	51.00%	100.00%		80.00%
Noncontrolling interest, ownership percentage by noncontrolling owners						20.00%	20.00%
Expenses made by EPA on the Remedial Investigation/Feasibility Study						12,000,000
Grey Eagle EPA expenditures						3,000,000
Ross Adams US Forest Service expenditures						300,000
Estimate of possible loss											247,000,000
Fine paid under protest for spill of elementary mercury						500,000	1,740,000
Direct ownership percent in PT Newmont Nusa Tenggara (PTNNT)						40.00%	40.00%
Percentage of ownership shares by the Indonesian government or Indonesian nationals in PTNNT	51.00%	44.00%	37.00%	30.00%	23.00%
Other company ownership percentage in affiliate						20.00%	20.00%										86.00%	100.00%	42.00%
Aggregate interest to be offered						31.00%	31.00%									31.00%
Sale and transfer of shares of interest percent	7.00%	7.00%	7.00%	7.00%	3.00%	7.00%	7.00%	17.00%
PTMDB's ownership in PTNNT														24.00%
Minimum royalty payable																						28,000,000	28,000,000	28,000,000	28,000,000	28,000,000	223,000,000
Letters of Credit Surety Bonds and Bank Guarantees, outstanding						1,354,000,000		1,191,000,000
Legal damages																26,000,000				11,000,000
Clean up of Midnite Mine						$ 65,000,000															$ 54,000,000

XML

Commitments and Contingencies

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 31    COMMITMENTS AND CONTINGENCIES

General

The Company follows ASC guidance in determining its accruals and disclosures with respect to loss contingencies. Accordingly, estimated losses from loss contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable (greater than a 75% probability) that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.

Operating Segments

The Company's operating segments are identified in Note 3. Except as noted in this paragraph, all of the Company's commitments and contingencies specifically described in this Note 31 relate to the Corporate and Other reportable segment. The PT Newmont Minahasa Raya and PTNNT matters relate to the Asia Pacific reportable segment. The Yanacocha matters relate to the South America reportable segment.

Environmental Matters

The Company's mining and exploration activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations so as to protect the public health and environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures.

Estimated future reclamation costs are based principally on legal and regulatory requirements. At December 31, 2011 and 2010, $1,070 and $904, respectively, were accrued for reclamation costs relating to currently producing mineral properties in accordance with asset retirement obligation guidance. The current portions of $47 and $46 at December 31, 2011 and 2010, respectively, are included in Other current liabilities.

In addition, the Company is involved in several matters concerning environmental obligations associated with former mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved. The Company believes that the related environmental obligations associated with these sites are similar in nature with respect to the development of remediation plans, their risk profile and the compliance required to meet general environmental standards. Based upon the Company's best estimate of its liability for these matters, $170 and $144 were accrued for such obligations at December 31, 2011 and 2010, respectively. These amounts are included in Other current liabilities and Reclamation and remediation liabilities. Depending upon the ultimate resolution of these matters, the Company believes that it is reasonably possible that the liability for these matters could be as much as 122% greater or 8% lower than the amount accrued at December 31, 2011. The amounts accrued for these matters are reviewed periodically based upon facts and circumstances available at the time. Changes in estimates are recorded in Reclamation and remediation in the period estimates are revised.

Details about certain of the more significant matters involved are discussed below.

Dawn Mining Company LLC (“Dawn”) - 51% Newmont Owned

Midnite Mine Site.    Dawn previously leased an open pit uranium mine, currently inactive, on the Spokane Indian Reservation in the State of Washington. The mine site is subject to regulation by agencies of the U.S. Department of Interior (the Bureau of Indian Affairs and the Bureau of Land Management), as well as the United States Environmental Protection Agency (“EPA”).

In 1991, Dawn's mining lease at the mine was terminated. As a result, Dawn was required to file a formal mine closure and reclamation plan. The Department of Interior commenced an analysis of Dawn's proposed plan and alternate closure and reclamation plans for the mine. Work on this analysis has been suspended indefinitely. In mid-2000, the mine was included on the National Priorities List under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”). In March 2003, the EPA notified Dawn and Newmont that it had thus far expended $12 on the Remedial Investigation/Feasibility Study (“RI/FS”) under CERCLA. In October 2005, the EPA issued the RI/FS on this property in which it indicated a preferred remedy. Newmont and Dawn filed comments on the RI/FS with the EPA in January 2006. On October 3, 2006, the EPA issued a final Record of Decision in which it formally selected the preferred remedy identified in the RI/FS.

On January 28, 2005, the EPA filed a lawsuit against Dawn and Newmont under CERCLA in the U.S. District Court for the Eastern District of Washington. The EPA has asserted that Dawn and Newmont are liable for reclamation or remediation work and costs at the mine. Dawn does not have sufficient funds to pay for the reclamation plan it proposed or for any alternate plan, or for any additional remediation work or costs at the mine.

On July 14, 2008, after a bench trial, the Court held Newmont liable under CERCLA as an “operator” of the Midnite Mine. The Court previously ruled on summary judgment that both the U.S. Government and Dawn were liable under CERCLA. On October 17, 2008, the Court issued its written decision in the bench trial. The Court found Dawn and Newmont jointly and severally liable under CERCLA for past and future response costs, and ruled that each of Dawn and Newmont are responsible to pay one-third of such costs. The Court also found the U.S. Government liable on Dawn's and Newmont's contribution claim, and ruled that the U.S. Government is responsible to pay one-third of all past and future response costs. In November 2008, all parties appealed the Court's ruling. Also in November 2008, the EPA issued an Administrative Order pursuant to Section 106 of CERCLA ordering Dawn and Newmont to conduct water treatment, testing and other preliminary remedial actions. Newmont has initiated those preliminary remedial actions.

As of September 30, 2011, Newmont, Dawn, the Department of Interior, the EPA and the Department of Justice entered into a Consent Decree for remediation of the Midnite Mine site, and filed the Consent Decree with the U.S. District Court for the Eastern District of Washington. All parties moved to dismiss the appeal of the trial court findings. The Court elicited public comments regarding the Consent Decree and approved the Consent Decree on January 17, 2012. According tothe Consent Decree: 1) Newmont and Dawn will design, construct and implement the cleanup plan selected by the EPA in 2006 for the Midnite Mine site; 2) Newmont and Dawn will reimburse the EPA for its costs associated with overseeing the work; 3) the Department of the Interior will contribute a lump sum of approximately $54 toward past EPA costs and future costs related to the cleanup of the Midnite Mine site; 4) Newmont and Dawn will be responsible for all other EPA oversight costs and Midnite Mine site cleanup costs; and 5) Newmont will post asurety bond for work at the site. At December 31, 2011, Newmont had accrued approximately $65 for the Midnite Mine site reclamation.

Dawn Mill Site.    Dawn also owns a uranium mill site facility, located on private land near Ford, Washington, which is subject to state and federal regulation. In late 1999, Dawn sought and later received approval from the State of Washington for a revised closure plan that expedites the reclamation process at the site. The currently approved plan for the site is guaranteed by Newmont.

Newmont USA Limited - 100% Newmont Owned

Grey Eagle Mine Site.    By letter dated September 3, 2002, the EPA notified Newmont that the EPA had expended $3 in response costs to address environmental conditions associated with a historic tailings pile located at the Grey Eagle Mine site near Happy Camp, California, and requested that Newmont pay those costs. The EPA has identified four potentially responsible parties, including Newmont. Newmont does not believe it has any liability for environmental conditions at the Grey Eagle Mine site, and intends to vigorously defend any formal claims by the EPA. Newmont cannot reasonably predict the likelihood or outcome of any future action against it arising from this matter.

Ross-Adams Mine Site.    By letter dated June 5, 2007, the U.S. Forest Service notified Newmont that it had expended approximately $0.3 in response costs to address environmental conditions at the Ross-Adams mine in Prince of Wales, Alaska, and requested Newmont USA Limited pay those costs and perform an Engineering Evaluation/Cost Analysis (“EE/CA”) to assess what future response activities might need to be completed at the site. Newmont intends to vigorously defend any formal claims by the EPA. Newmont has agreed to perform the EE/CA. Newmont cannot reasonably predict the likelihood or outcome of any future action against it arising from this matter.

PT Newmont Minahasa Raya (“PTNMR”) - 80% Newmont Owned

On March 22, 2007, an Indonesian non-governmental organization named Wahana Lingkungan Hidup Indonesia (“WALHI”) filed a civil suit against PTNMR, the Newmont subsidiary that operated the Minahasa mine in Indonesia, and Indonesia's Ministry of Energy & Mineral Resources and Ministry of Environment, alleging pollution from the government-approved and permitted disposal of mill tailings into Buyat Bay, and seeking a court order requiring PTNMR to fund a 25-year monitoring program in relation to Buyat Bay. In December 2007, the court ruled in PTNMR's favor and found that WALHI's allegations of pollution in BuyatBay were without merit. In March 2008, WALHI appealed this decision to the Indonesian High Court. On January 27, 2010, the Indonesian High Court upheld the December 2007 ruling in favor of PTNMR. On May 17, 2010, WALHI filed an appeal of the January 27, 2010 Indonesian High Court ruling seeking review from the Indonesian Supreme Court. Independent sampling and testing of Buyat Bay water and fish, as well as area residents, conducted by the World Health Organization and the Australian Commonwealth Scientific and Industrial Research Organization, confirm that PTNMR has not polluted the Buyat Bay environment, and, therefore, has not adversely affected the fish in Buyat Bay or the health of nearby residents. The Company remains steadfast that it has not caused pollution or health problems.

Other Legal Matters

Minera Yanacocha S.R.L. (“Yanacocha”) - 51.35% Newmont Owned

Choropampa.    In June 2000, a transport contractor of Yanacocha spilled approximately 151 kilograms of elemental mercury near the town of Choropampa, Peru, which is located 53 miles (85 kilometers) southwest of the Yanacocha mine. Elemental mercury is not used in Yanacocha's operations but is a by-product of gold mining and was sold to a Lima firm for use in medical instruments and industrial applications. A comprehensive health and environmental remediation program was undertaken by Yanacocha in response to the incident. In August 2000, Yanacocha paid under protest a fine of 1,740,000 Peruvian soles (approximately $0.5) to the Peruvian government. Yanacocha has entered into settlement agreements with a number of individuals impacted by the incident. As compensation for the disruption and inconvenience caused by the incident, Yanacocha entered into agreements with and provided a variety of public works in the three communities impacted by this incident. Yanacocha cannot predict the likelihood of additional expenditures related to this matter.

Additional lawsuits relating to the Choropampa incident were filed against Yanacocha in the local courts of Cajamarca, Peru, in May 2002 by over 900 Peruvian citizens. A significant number of the plaintiffs in these lawsuits entered into settlement agreements with Yanacocha prior to filing such claims. In April 2008, the Peruvian Supreme Court upheld the validity of these settlement agreements, which the Company expects to result in the dismissal of all claims brought by previously settled plaintiffs. Yanacocha has also entered into settlement agreements with approximately 350 additional plaintiffs. The claims asserted by approximately 200 plaintiffs remain. In 2011, Yanacocha was served with 22 complaints alleging grounds to nullify the settlements entered between Yanacocha and the plaintiffs. Yanacocha has answered the complaints and will continue to vigorously defend its position. Neither the Company nor Yanacocha can reasonably estimate the ultimate loss relating to such claims.

PT Newmont Nusa Tenggara (“PTNNT”) – 31.5% Newmont Owned

Under the Batu Hijau Contract of Work, beginning in 2006 and continuing through 2010, a portion of PTNNT's shares were required to be offered for sale, first, to the Indonesian government or, second, to Indonesian nationals, equal to the difference between the following percentages and the percentage of shares already owned by the Indonesian government or Indonesian nationals (if such number is positive): 23% by March 31, 2006; 30% by March 31, 2007; 37% by March 31, 2008; 44% by March 31, 2009; and 51% by March 31, 2010. As PT Pukuafu Indah (“PTPI”), an Indonesian national, owned a 20% interest in PTNNT at all relevant times, in 2006, a 3% interest was required to be offered for sale and, in each of 2007 through 2010, an additional 7% interest was required to be offered (for an aggregate 31% interest). The price at which such interests were offered for sale to the Indonesian parties was the fair market value of such interest considering PTNNT as a going concern, as agreed with the Indonesian government.

In accordance with the Contract of Work, an offer to sell a 3% interest was made to the Indonesian government in 2006 and an offer for an additional 7% interest was made in each of 2007, 2008, 2009 and 2010. While the central government declined to participate in the 2006 and 2007 offers, local governments in the area in which the Batu Hijau mine is located expressed interest in acquiring shares, as did various Indonesian nationals. After disagreement with the government over whether the government's first right to purchase had expired and receipt of Notices of Default from the government claiming breach and threatening termination of the Contract of Work, on March 3, 2008, the Indonesian government filed for international arbitration as provided under the Contract of Work, as did PTNNT.

An international arbitration panel (the “Panel”) was appointed to resolve these claims and other claims that had arisen in relation to divestment and on March 31, 2009, the Panel issued its final award and decision on the matter. In its decision, the Panel determined that PTNNT's foreign shareholders had not complied with the divestiture procedure required by the Contract of Work in 2006 and 2007, but the Panel ruled that the Indonesian government was not entitled to immediately terminate the Contract of Work and rejected the Indonesian government's claim for damages. The Panel granted PTNNT 180 days from the date of notification of the final award to effect transfer of the 2006 3% interest and the 2007 7% interest in PTNNT to the local governments or their respective nominees. The Panel also applied a 180-day cure period to the 2008 7% interest, requiring that PTNNT effect the offer of the 2008 7% interest to the Indonesian government or its nominee within such 180-day period, and ensure the transfer of such shares if, after agreement on price, the Indonesian government invoked its right of first refusal under the Contract of Work. On July 14, 2009, the Company reached agreement with the Indonesian government on the price of the 2008 7% interest and the 2009 7% interest and effected the reoffer to the Indonesian government at this newly agreed price. In November and December 2009, sale agreements were concluded pursuant to which the 2006, 2007 and 2008 shares were transferred to PT Multi Daerah Bersaing (“PTMDB”), the nominee of the local governments, and the 2009 shares were transferred to PTMDB in February 2010, resulting in PTMDB owning a 24% interest in PTNNT.

On December 17, 2010, the Ministry of Energy & Mineral Resources, acting on behalf of the Indonesian government, accepted the offer to acquire the final 7% interest in PTNNT. Subsequently, the Indonesian government designated Pusat Investasi Pemerintah (“PIP”), an agency of the Ministry of Finance, as the entity that will buy the final stake. On May 6, 2011, PIP and the foreign shareholders entered into a definitive agreement for the sale and purchase of the final 7% divestiture stake. Closing of the transaction is pending receipt of approvals from certain Indonesian government ministries. Subsequent to signing the agreement, a disagreement arose between the Ministry of Finance and the Indonesian parliament in regard to whether parliamentary approval was needed to allow PIP to make the share purchase. In October 2011, press reports stated that Indonesia's Supreme Audit Agency had determined that parliamentary approval is required. The Ministry of Finance continues to dispute the need for parliamentary approval and has taken steps to have the matter resolved by Indonesia's Constitutional Court. Further disputes may arise in regard to the divestiture of the 2010 shares.

As part of the negotiation of the sale agreements with PTMDB, the parties executed an operating agreement (the “Operating Agreement”) under which each recognizes the rights of the Company and Sumitomo to apply their operating standards to the management of PTNNT's operations, including standards for safety, environmental stewardship and community responsibility. The Operating Agreement became effective upon the completion of the sale of the 2009 shares in February 2010 and will continue for so long as the Company and Sumitomo own more shares of PTNNT than PTMDB. If the Operating Agreement terminates, then the Company may lose control over the applicable operating standards for Batu Hijau and will be at risk for operations conducted in a manner that either detracts from value or results in safety, environmental or social standards below those adhered to by the Company and Sumitomo.

In the event of any future disputes under the Contract of Work or Operating Agreement, there can be no assurance that the Company would prevail in any such dispute and any termination of such contracts could result in substantial diminution in the value of the Company's interests in PTNNT.

Effective as of January 1, 2011, the local government in the region where the Batu Hijau mine is located commenced the enforcement of local regulations that purport to require PTNNT to pay additional taxes based on revenue and the value of PTNNT's contracts. In addition, the regulations purport to require PTNNT to obtain certain export-related documents from the regional government for purposes of shipping copper concentrate. PTNNT is required to and has obtained all export related-documents in compliance with the laws and regulations of the central government. PTNNT believes that the new regional regulations are not enforceable as they expressly contradict higher level Indonesian laws that set out the permissible taxes that can be imposed by a regional government and all effective export requirements. PTNNT's position is supported by Indonesia's Ministry of Energy & Mineral Resources, Ministry of Trade, and the provincial government. To date, PTNNT has not been forced to comply with these new contradictory regional regulations. On February 4, 2011, PTNNT filed legal proceedings seeking to have the regulations declared null and void because they conflict with the laws of Indonesia. Subsequently, the Ministry of Home Affairs issued a decree declaring these local regulations to be contrary to Indonesian law and thus unenforceable. Further disputes with the local government could arise in relation to these regulations. PTNNT intends to vigorously defend its position in this dispute.

Additionally, in September 2011, WALHI brought an administrative law claim against Indonesia's Ministry of Environment to challenge the May 2011 renewal of PTNNT's submarine tailings permit. PTNNT and the regional government of KSB (“KSB”) filed separate applications for intervention into the proceedings, both of which were accepted by the Administrative Court. KSB intervened on the side of WALHI, and PTNNT joined on the side of the Ministry of Environment. PTNNT will defend its submarine tailings permit and is confident that the Ministry of Environment acted properly in renewing PTNNT's permit.

Newmont Mining Corporation claim relating to PTNNT divestiture

The Company is aware of a lawsuit apparently filed by Indonesian citizens living in the province of Nusa Tenggara Barat against Indonesia's Ministry of Finance and other government officials (as defendants) and against PTNNT and the Company (as co-defendants). Plaintiffs claim that the purchase by the central government of the final 7% divestiture stake in PTNNT violates, or would violate, their human rights. PTNNT's alleged liability appears to arise from being a party involved in the process of divestiture, and the Company's status as a holding company of PTNNT. The allegations regarding liability are vague and unclear. Plaintiffs seek various relief, including an order requiring the defendants and co-defendants to transfer the final 7% stake to the regional government of Nusa Tenggara Barat and a payment of approximately $247 in damages. The Company considers that there has been no proper service of process, that there is lack of jurisdiction, and that the claims pertaining to it are entirely without merit.

PT Pukuafu Indah Litigation

In October 2009, PTPI filed a lawsuit in the Central Jakarta District Court against PTNNT and the Indonesian government seeking to cancel the March 2009 arbitration award pertaining to the manner in which divestiture of shares in PTNNT should proceed (refer to the discussion of PTNNT above for the arbitration results). On October 11, 2010, the District Court ruled in favor of PTNNT and the Indonesian government finding, among other things, that PTPI lacks standing to contest the validity of the arbitration award. PTPI has filed a notice of appeal of the court's ruling.

Subsequent to its initial claim, PTPI filed numerous additional lawsuits, three of which have been withdrawn, against Newmont Indonesia Limited (“NIL”) and Nusa Tenggara Mining Corporation (“NTMC”), a subsidiary of Sumitomo, in the South Jakarta District Court. Fundamentally, the cases all relate to PTPI's contention that it owns, or has rights to own, the shares in PTNNT that have or will be divested to fulfill the requirements of the PTNNT Contract of Work and the March 2009 arbitration award. PTPI also makes various other allegations, including alleged rights in or to the Company's or Sumitomo's non-divestiture shares in PTNNT, and PTPI asserts claims for significant damages allegedly arising from NIL's and NTMC's unlawful acts in transferring the divestiture shares to a third party. On November 30, 2010, the South Jakarta District Court rendered a decision in favor of PTPI in one of the cases which included an order that NIL/NTMC transfer 31% of PTNNT shares to PTPI and pay PTPI $26 in damages and certain monetary penalties. The order is not final and binding until the appeal process is completed. NIL and NTMC appealed the decision. On June 28, 2011, the South Jakarta District Court ruled in favor of NIL and NTMC in one of PTPI's lawsuits contending that PTPI has rights in or to NIL's and NTMC's non-divestiture shares. In the Company's view, this ruling further conflicts with the November 30, 2010 ruling finding that PTPI has rights in the divestiture shares. PTPI has filed a notice of appeal.

In January 2010, PTPI also filed a lawsuit against PTNNT's President Director, Mr. Martiono Hadianto, alleging wrongful acts associated with the arbitration, including failure to properly share certain information. The South Jakarta District Court issued a decision partially in favor of PTPI against the PTNNT President Director, requiring the production of arbitration documents. The PTNNT President Director has appealed the decision which is nonbinding until the appeal process is completed.

Newmont, Sumitomo and PTNNT's management believe that all of PTPI's claims in these matters are without merit and constitute a material breach of a written release agreement executed by PTPI in 2009, in which it and its shareholders committed to cease prosecution of all then-pending lawsuits and not to initiate new proceedings, in conjunction with Newmont's provision of financing to PTPI in late 2009.

In August 2010, NIL and NVL USA Limited (“NVL”) commenced an arbitration against PTPI in the Singapore International Arbitration Centre, as provided in relevant financing agreements, seeking declarations that PTPI has violated the release agreement by failing to dismiss its Indonesian lawsuits, that PTPI is in breach of the November 2009 loan facility and related agreements, and that NIL and NVL are entitled to damages arising from PTPI's and its shareholders' conduct.

On October 1, 2010, NIL and NVL requested, based upon the release agreement, that the arbitral tribunal issue an interim order requiring PTPI and its shareholders to discontinue the various Indonesian court proceedings and refrain from bringing additional lawsuits. On October 15, 2010, the tribunal issued an order granting NIL and NVL's request. The order of the tribunal restrains PTPI and its agents from “proceeding with or continuing with or assisting or participating in the prosecution of the Indonesian [s]uits” and from commencing additional proceedings relating to the same subject matter as the Indonesian lawsuits. NIL and NVL are in the process of enforcing the interim award in Indonesian and Singapore courts but it is not known the extent to which the courts will enforce the award or whether PTPI and its shareholders will, in any event, abide by the award and any related court orders. PTPI and its shareholders have commenced proceedings in Singapore court to contest enforcement of the interim award.

On April 7, 2011, the arbitral tribunal issued a final award, while keeping the proceedings open to allow NIL and NVL to seek further relief as necessary, finding PTPI and its shareholders in breach of various provisions of the financing agreements, including the release agreement. The tribunal, for the second time, ordered PTPI and its agents to restrain from proceeding with the Indonesian lawsuits or filing new lawsuits relating to the same subject matter. In addition, the tribunal ordered PTPI and other shareholder defendants, collectively, to pay more than $11 in damages, costs and expenses. The Company has aggressively sought enforcement of the interim award in Indonesian and Singapore courts and will continue to do so with regard to the April 7, 2011 final award.

The Company intends to continue vigorously defending the PTPI lawsuits and pursuing its claims against PTPI.

NWG Investments Inc. v. Fronteer Gold Inc.

In April 2011, Newmont acquired Fronteer Gold Inc. (“Fronteer”). Fronteer has been named as a defendant in a lawsuit filed in New York State Supreme Court by NWG Investments Inc. (“NWG”).

Fronteer acquired NewWest Gold Corporation (“NewWest Gold”) in September 2007. At the time of that acquisition, NWG owned approximately 86% of NewWest Gold and an individual named Jacob Safra owned or controlled 100% of NWG. Prior to its acquisition of NewWest Gold, Fronteer entered into a June 2007 lock-up agreement with NWG providing that, among other things, NWG would support Fronteer's acquisition of NewWest Gold. At that time, Fronteer owned approximately 42% of Aurora Energy Resources Inc. (“Aurora”), which, among other things, had a uranium exploration project in Labrador, Canada.

NWG contends that, during the negotiations leading up to the lock-up agreement, Fronteer represented to NWG that Aurora would commence uranium mining in Labrador by 2013, that this was a firm date, that Fronteer was not aware of any obstacle to doing so, that Aurora faced no serious environmental issues in Labrador and that Aurora's competitors faced greater delays in commencing uranium mining. NWG further contends that it entered into the lock-up agreement and agreed to support Fronteer's acquisition of NewWest Gold in reliance upon these purported representations. On October 11, 2007, less than three weeks after the Fronteer-NewWest Gold transaction closed, a member of the Nunatsiavut Assembly introduced a motion calling for the adoption of a moratorium on uranium mining in Labrador. On April 8, 2008, the Nunatsiavut Assembly adopted a three-year moratorium on uranium mining in Labrador. NWG contends that Fronteer was aware during the negotiations of the NWG/Fronteer lock-up agreement that the Nunatsiavut Assembly planned on adopting this moratorium and that its adoption would preclude Aurora from commencing uranium mining by 2013, but Fronteer nonetheless fraudulently induced NWG to enter into the lock-up agreement.

NWG has not yet filed or served a complaint upon Fronteer or Newmont. Newmont intends to defend this matter, but cannot reasonably predict the outcome.

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Newmont Equity and Income Per Share (Tables)

12 Months Ended

Dec. 31, 2011

Income Per Share (Tables) [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

			Years Ended December 31,
			2011		2010		2009
Net income attributable to Newmont stockholders:
	Continuing operations		$	502	$	2,305	$	1,308
	Discontinued operations			(136)		(28)		(11)
			$	366	$	2,277	$	1,297
Weighted average common shares (millions):
	Basic			494		492		487
	Effect of employee stock based awards			2		2		-
	Effect of convertible notes			8		6		-
	Diluted			504		500		487
Net income attributable to Newmont stockholders per
	common share
	Basic:
		Continuing operations	$	1.02	$	4.69	$	2.68
		Discontinued operations		(0.28)		(0.06)		(0.02)
			$	0.74	$	4.63	$	2.66
	Diluted:
		Continuing operations	$	1.00	$	4.61	$	2.68
		Discontinued operations		(0.27)		(0.06)		(0.02)
			$	0.73	$	4.55	$	2.66

Net income attributable to Newmont stockholders and transfers from noncontrolling interest

			Years Ended December 31,
			2011		2010		2009
Net income attributable to Newmont stockholders			$	366	$	2,277	$	1,297
Transfers from the noncontrolling interests:
	Increase in Additional paid-in capital from sale of PTNNT shares,
		net of tax of nil, $33 and $115, respectively		-		16		63
	Net income attributable to Newmont stockholders and transfers
		from noncontrolling interests	$	366	$	2,293	$	1,360

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Unaudited Supplementary Data (Tables)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data Tables [Abstract]

Quarterly Financial Information Tables

NOTE ##SuppNote    UNAUDITED SUPPLEMENTARY DATA
Quarterly Data
		The following is a summary of selected quarterly financial information (unaudited):
			2011
			Three Months Ended
			March 31		June 30		September 30		December 31
Sales			$	2,465	$	2,384	$	2,744	$	2,765
(1)			$	1,255	$	1,174	$	1,460	$	1,423
(2)			$	514	$	523	$	493	$	(1,028)
Loss from discontinued operations(2)				-		(136)		-		-
Net income (loss)(2)			$	514	$	387	$	493	$	(1,028)
Income (loss) per common share
	Basic:
		Continuing operations	$	1.04	$	1.06	$	1.00	$	(2.08)
		Discontinued operations		-		(0.28)		-		-
			$	1.04	$	0.78	$	1.00	$	(2.08)
	Diluted:
		Continuing operations	$	1.03	$	1.04	$	0.98	$	(2.02)
		Discontinued operations		-		(0.27)		-		-
			$	1.03	$	0.77	$	0.98	$	(2.02)
Weighted average common shares (millions)
		Basic		493		494		494		495
		Diluted		501		501		504		510
Cash dividends declared per common share			$	0.15	$	0.20	$	0.30	$	0.35
Closing price of common stock			$	54.58	$	53.97	$	62.95	$	60.01
			2010
			Three Months Ended
			March 31		June 30		September 30		December 31
Sales			$	2,242	$	2,153	$	2,597	$	2,548
(1)			$	1,136	$	1,061	$	1,447	$	1,402
(2)			$	546	$	382	$	537	$	840
Loss from discontinued operations(2)				-		-		-		(28)
Net income (loss)(2)			$	546	$	382	$	537	$	812
Income (loss) per common share
	Basic:
		Continuing operations	$	1.11	$	0.78	$	1.09	$	1.71
		Discontinued operations		-		-		-		(0.06)
			$	1.11	$	0.78	$	1.09	$	1.65
	Diluted:
		Continuing operations	$	1.11	$	0.77	$	1.07	$	1.67
		Discontinued operations		-		-		-		(0.06)
			$	1.11	$	0.77	$	1.07	$	1.61
Weighted average common shares (millions)
		Basic		491		492		493		493
		Diluted		493		499		502		504
Cash dividends declared per common share			$	0.10	$	0.10	$	0.15	$	0.15
Closing price of common stock			$	50.93	$	61.74	$	62.81	$	61.43

(1)Sales less Costs applicable to sales, Amortization andReclamation and remediation.

(2)Attributable to Newmont stockholders.

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Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2011

Other Liabilities (Tables) [Abstract]

Other Liabilities

NOTE ##OthLiabNote    OTHER LIABILITIES
			At December 31,
			2011		2010
	Other current liabilities:
		Refinery metal payable	$	796	$	617
		Derivative instruments		408		-
		Accrued capital expenditures		248		83
		Accrued operating costs		231		217
		Taxes other than income and mining		93		135
		Reclamation and remediation liabilities		71		64
		Interest		55		66
		Royalties		53		90
		Deferred income tax		50		54
		Boddington contingent consideration		24		32
		Holt property royalty		17		-
		Other		87		60
			$	2,133	$	1,418
	Other long-term liabilities:
		Holt property royalty	$	159	$	40
		Income and mining taxes		88		36
		Power supply agreements		45		45
		Boddington contingent consideration		30		51
		Derivative instruments		6		-
		Other		36		49
			$	364	$	221

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Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2011

Stock Based Compensation (Tables) [Abstract]

Black-Scholes Option-Pricing Model Assumptions

	2011		2010		2009		2008		2007
Weighted-average risk-free interest rate	2.0	%	2.5	%	2.0	%	3.1	%	4.6	%
Dividend yield	1.4	%	0.7	%	1.0	%	1.0	%	1.0	%
Expected life in years	6		5		5		5		5
Volatility	37	%	38	%	36	%	30	%	32	%

Stock Options Activity

	The following table summarizes annual activity for all stock options for each of the three years ended December 31:
		2011				2010				2009
		Number of Shares		Weighted-Average Exercise Price		Number of Shares		Weighted-Average Exercise Price		Number of Shares		Weighted-Average Exercise Price
Outstanding at beginning of year		5,414,205		$	45.36	6,142,073		$	42.65	6,463,004		$	42.17
Granted		1,276,250		$	58.72	918,343		$	55.68	1,157,825		$	39.99
Exercised		(928,037)		$	43.67	(1,494,686)		$	40.38	(1,204,836)		$	36.24
Forfeited and expired		(281,077)		$	56.56	(151,525)		$	51.02	(273,920)		$	50.20
Outstanding at end of year		5,481,341		$	48.40	5,414,205		$	45.36	6,142,073		$	42.65
Options exercisable at year-end		3,166,178		$	46.22	3,211,115		$	45.50	3,880,866		$	44.39
Weighted-average fair value per share
of options granted during the year		$	18.90			$	20.01			$	12.88

Stock Options Outstanding and Exercisable

	The following table summarizes information about stock options outstanding and exercisable at December 31, 2011:
		Options Outstanding				Options Exercisable
Range of Exercise Prices		Number Outstanding	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price		Number Exercisable	Weighted-Average Exercise Price
$20 to $30		360,723	5.9	$	26.91	60,723	$	26.89
$30 to $40		947,202	6.6	$	39.60	635,585	$	39.43
$40 to $50		1,730,135	4.4	$	44.76	1,729,185	$	44.76
$50 to $60		2,417,490	8.0	$	57.46	740,685	$	57.05
$60+		25,791	9.9	$	67.41	-	$	-
		5,481,341	6.5	$	48.40	3,166,178	$	46.22

Stock Options Vested

	2011		2010		2009
Stock options vested		950,119		922,463		795,566
Weighted-average exercise price	$	46.73	$	42.16	$	46.86

Stock Option and Other Stock Based Compensation

	Years Ended December 31,
	2011		2010		2009
Stock options	$	19	$	16	$	14
Restricted stock units		27		19		9
Performance leveraged stock units		7		7		-
Restricted stock		1		2		4
Deferred stock		4		8		13
	$	58	$	52	$	40

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Segment Information

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

SEGMENT INFORMATION

NOTE 3    SEGMENT INFORMATION

The Company's reportable segments are based upon the Company's management structure that is focused on the geographic region for the Company's operations and include North America, South America, Asia Pacific, Africa and Corporate and Other. The Company's major operations include Nevada, Yanacocha, Boddington, Batu Hijau, Other Australia/New Zealand and Ahafo. The Company identifies its reportable segments as those consolidated mining operations or functional groups that represent more than 10% of the combined revenue, profit or loss or total assets of all reported operating segments. Consolidated mining operations or functional groups not meeting this threshold are aggregated at the applicable geographic region or corporate level for segment reporting purposes. Earnings from operations do not reflect general corporate expenses, interest (except project-specific interest) or income and mining taxes (except for equity investments). Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. The financial information relating to the Company's segments is as follows:

					Costs				Advanced
					Applicable				Projects and		Pre-Tax		Total		Capital
			Sales		to Sales		Amortization		Exploration		Income		Assets		Expenditures(1)
Year Ended December 31, 2011
Nevada			$	2,700	$	1,039	$	277	$	132	$	1,213	$	6,957	$	559
La Herradura				331		110		20		18		190		329		81
Hope Bay				-		-		14		194		(2,306)		127		101
Other North America				-		-		-		3		42		65		-
	North America			3,031		1,149		311		347		(861)		7,478		741
Yanacocha				2,003		711		234		39		988		2,712		360
Conga				-		-		-		27		(28)		1,086		739
Other South America				-		-		-		45		(47)		31		-
	South America			2,003		711		234		111		913		3,829		1,099
Boddington:
	Gold			1,056		470		122
	Copper			210		118		28
		Total Boddington		1,266		588		150		11		506		4,629		217
Batu Hijau:
	Gold			524		164		35
	Copper			1,052		332		71
		Total Batu Hijau		1,576		496		106		8		890		3,582		196
Other Australia/New Zealand				1,613		681		135		51		730		1,257		294
Other Asia Pacific				-		-		3		18		(66)		630		18
	Asia Pacific			4,455		1,765		394		88		2,060		10,098		725
Ahafo				869		265		76		40		465		1,146		116
Akyem				-		-		-		9		(10)		552		248
Other Africa				-		-		-		7		(11)		-		-
	Africa			869		265		76		56		444		1,698		364
Corporate and Other				-		-		21		121		(746)		4,371		35
Consolidated			$	10,358	$	3,890	$	1,036	$	723	$	1,810	$	27,474	$	2,964
(1)	Accrual basis includes an increase in accrued capital expenditures of $177; consolidated capital expenditures on a cash basis were $2787.

					Costs				Advanced
					Applicable to				Projects and		Pre-Tax		Total		Capital
			Sales		Sales		Amortization		Exploration		Income		Assets		Expenditures(1)
Year Ended December 31, 2010
Nevada			$	2,111	$	974	$	271	$	85	$	738	$	3,387	$	298
La Herradura				217		73		19		6		118		216		41
Hope Bay				-		-		13		98		(111)		2,152		115
Other North America				-		-		1		1		(1)		112		-
	North America			2,328		1,047		304		190		744		5,867		454
Yanacocha				1,778		630		162		24		893		2,682		167
Conga				-		-		-		10		(11)		262		134
Other South America				-		-		1		28		(23)		30		-
	South America			1,778		630		163		62		859		2,974		301
Boddington
	Gold			834		400		113
	Copper			162		93		25
		Total Boddington		996		493		138		6		304		4,323		146
Batu Hijau:
	Gold			776		155		42
	Copper			1,686		337		90
		Total Batu Hijau		2,462		492		132		3		1,736		3,398		67
Other Australia/New Zealand				1,321		585		108		31		575		1,025		176
Other Asia Pacific				-		-		2		19		(14)		535		17
	Asia Pacific			4,779		1,570		380		59		2,601		9,281		406
Ahafo				655		237		78		24		298		1,051		109
Akyem				-		-		-		9		(9)		295		70
Other Africa				-		-		-		-		(1)		-		-
	Africa			655		237		78		33		288		1,346		179
Corporate and Other				-		-		20		90		(495)		6,195		34
Consolidated			$	9,540	$	3,484	$	945	$	434	$	3,997	$	25,663	$	1,374
(1)	Accrual basis includes a decrease in accrued capital expenditures of $28; consolidated capital expenditures on a cash basis were $1402.

					Costs				Advanced
					Applicable to				Projects and		Pre-Tax		Total		Capital
			Sales		Sales		Amortization		Exploration		Income		Assets		Expenditures(1)
Year Ended December 31, 2009
Nevada			$	1,943	$	1,019	$	261	$	54	$	583	$	3,236	$	205
La Herradura				113		42		11		3		57		137		54
Hope Bay				-		-		12		66		(77)		1,862		5
Other North America				-		-		-		2		(7)		55		-
	North America			2,056		1,061		284		125		556		5,290		264
Yanacocha				2,013		642		168		19		1,093		2,445		119
Conga				-		-		-		4		(4)		27		27
Other South America				-		-		-		23		1		32		-
	South America			2,013		642		168		46		1,090		2,504		146
Boddington
	Gold			101		45		15
	Copper			27		16		4
		Total Boddington		128		61		19		32		(59)		3,975		1,093
Batu Hijau:
	Gold			550		118		30
	Copper			1,292		307		78
		Total Batu Hijau		1,842		425		108		-		1,242		3,129		44
Other Australia/New Zealand				1,138		577		136		21		374		870		122
Other Asia Pacific				-		-		3		12		(50)		256		3
	Asia Pacific			3,108		1,063		266		65		1,507		8,230		1,262
Ahafo				528		242		68		13		178		981		75
Akyem				-		-		-		8		(9)		206		10
Other Africa				-		-		-		2		2		-		-
	Africa			528		242		68		23		171		1,187		85
Corporate and Other				-		-		20		63		(370)		5,088		16
Consolidated			$	7,705	$	3,008	$	806	$	322	$	2,954	$	22,299	$	1,773
(1)	Accrual basis includes an increase in accrued capital expenditures of $4; consolidated capital expenditures on a cash basis were $1769.

Revenues from export and domestic sales were as follows:
		Years Ended December 31,
		2011		2010		2009
	Europe	$	7,392	$	6,209	$	5,573
	Japan		750		1,544		833
	Korea		712		760		465
	Indonesia		531		372		440
	Mexico		331		217		113
	Philippines		287		128		14
	Australia		182		110		222
	Other		173		200		45
		$	10,358	$	9,540	$	7,705

As gold can be sold through numerous gold market traders worldwide, the Company is not economically dependent on a limited number of customers for the sale of its product. In 2011, 2010 and 2009, sales to Bank of Nova Scotia were $1,143 (13%), $2,435 (32%) and $2,658 (42%), respectively, of total gold sales. Additionally in 2011, the Company had sales to Royal Bank of Scotland that totaled $2,048 (23%) of total gold sales.

Long-lived assets, excluding deferred tax assets, investments and restricted cash, were as follows:

	At December 31,
	2011		2010
United States	$	6,643	$	3,031
Australia		5,359		4,936
Peru		2,654		1,772
Indonesia		2,421		2,109
Ghana		1,535		1,231
Canada		43		2,088
Other		306		213
	$	18,961	$	15,380

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Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2011

Accumulated Other Comprehensive Income (Tables) [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

NOTE ##AOCINote    ACCUMULATED OTHER COMPREHENSIVE INCOME
	At December 31,
	2011		2010
Unrealized gain on marketable securities, net of $159 and $200 tax expense, respectively	$	707	$	902
Foreign currency translation adjustments		163		155
Pension liability adjustments, net of $125 and $95 tax benefit, respectively		(231)		(176)
Other post-retirement benefit adjustments, net of $4 and $6 tax expense, respectively		6		11
Changes in fair value of cash flow hedge instruments, net of tax benefit (expense) of $71 and $(97), respectively		7		216
	$	652	$	1,108

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Write-Down of Property, Plant and Mine Development (Tables)

12 Months Ended

Dec. 31, 2011

Writedown of Property Plant and Mine Development (Tables) [Abstract]

Write-Down of Property, Plant and Mine Development, by Segment

NOTE ##WritedownsNote    WRITE-DOWN OF PROPERTY, PLANT AND MINE DEVELOPMENT
		Years Ended December 31,
		2011		2010		2009
	Hope Bay	$	2,080	$	-	$	-
	Nevada		2		4		1
	Batu Hijau		1		1		4
	Yanacocha		1		-		1
	Other Australia/New Zealand		-		1		1
		$	2,084	$	6	$	7

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Debt

12 Months Ended

Dec. 31, 2011

Debt [Abstract]

DEBT

NOTE ##DebtNote    DEBT
	At December 31, 2011				At December 31, 2010
	Current		Non-Current		Current		Non-Current
Sale-leaseback of refractory ore treatment plant	$	165	$	-	$	30	$	134
8 5/8% debentures, net of discount (due 2011)		-		-		217		-
Corporate revolving credit facility (due 2016)		-		33		-		-
2012 Convertible Senior Notes, net of discount		514		-		-		488
2014 Convertible Senior Notes, net of discount		-		512		-		489
2017 Convertible Senior Notes, net of discount		-		452		-		434
2019 Senior Notes, net of discount		-		896		-		896
2035 Senior Notes, net of discount		-		598		-		598
2039 Senior Notes, net of discount		-		1,087		-		1,087
Ahafo project facility		10		45		10		55
Other capital leases		-		1		2		1
	$	689	$	3,624	$	259	$	4,182

Scheduled minimum debt repayments are $689 in 2012, $10 in 2013, $522 in 2014, $10 in 2015, $43 in 2016 and $3,039 thereafter.

Sale-Leaseback of Refractory Ore Treatment Plant

In September 1994, the Company entered into a sale and leaseback agreement for its refractory ore treatment plant located in Carlin, Nevada. The lease term is 21 years and includes purchase options during and at the end of the lease at predetermined prices. During 2011, the Company expressed the intent to exercise the early purchase option and buy the refractory treatment plant. The agreement for the early buy-out will result in $165 aggregate payments during 2012 at which point, the Company will take ownership of the treatment plant. The related asset is specialized, thereforeit is not practicable to estimate the fair value of this debt.

8 5/8% Senior Notes

Newmont had uncollateralized debentures with a principal amount of $223 due May 2011 bearing an annual interest rate of 8.63%. In May 2011, the Company repaid the $223 balance outstanding on the 8 5/8% debentures.

Corporate Revolving Credit Facility

Effective May 20, 2011, the Company entered into a new uncollateralized $2,500 revolving credit facility with a syndicate of commercial banks. This new revolving credit facility replaced the existing revolving credit facility which was cancelled upon the effectiveness of the new facility. The new facility provides for borrowings in U.S. dollars and contains a letter of credit sub-facility. The new facility matures in May 2016. Facility fees vary based on the credit ratings of the Company's senior, uncollateralized, long-term debt. Borrowings under the facility bear interest at a market based rate plus a margin determined by the Company's credit rating. At December 31, 2011, we had $33in borrowings outstanding under the facility. There was $244 and $153 outstanding in letters of credit at December 31, 2011 and 2010, respectively.

Subsidiary Financings

PTNNT Revolving Credit Facility

       Effective May 27, 2011, PTNNT entered into a new $600 reducing revolving credit facility with a syndicate of banks. This new reducing revolving facility provides for borrowings in U.S. dollars. The facility matures in March 2017. The facility is non-recourse to Newmont and substantially all of PTNNT's assets are pledged as collateral. Borrowings under the facility bear interest at a rate per annum equal to LIBOR plus a margin of 4.00%. Commitment fees currently accrue on the daily average unused amount of the commitment of each lender at an annual rate of 2.00%. A one-time arrangement fee of $18 related to the facility was capitalized as debt issuance cost during 2011 and will be amortized over the term of the debt. There were no borrowings outstanding under the facility at December 31, 2011.

2012 Convertible Senior Notes

In February 2009, the Company issued $518 of uncollateralized convertible senior notes maturing on February 15, 2012 for net proceeds of $504. The notes pay interest semi-annually at a rate of 3.0% per annum and the effective interest rate is 8.5%. The notes are convertible, at the holder's option, equivalent to a conversion price of $45.73 per share of common stock. Upon conversion, the principal amount and all accrued interest will be repaid in cash. In December 2011, the Company provided notice that it will settle the conversion premium in cash. The Company is not entitled to redeem the notes prior to their stated maturity dates. Using prevailing interest rates on similar instruments, the estimated fair value of these senior notes was $674 and $668 at December 31, 2011 and 2010, respectively. The foregoing fair value estimates were prepared with the assistance of an independent third party and may or may not reflect the actual trading value of this debt.

2014 and 2017 Convertible Senior Notes

In July 2007, the Company issued $1,150uncollateralized convertible senior notes due in 2014 and 2017, each with a principal amount of $575 for net proceeds of $1,126. The 2014 notes, maturing on July 15, 2014, pay interest semi-annually at a rate of 1.25% per annum, and the 2017 notes, maturing on July 15, 2017, pay interest semi-annually at a rate of 1.63% per annum. The effective interest rates are 6.0% and 6.25% for the 2014 and 2017 notes, respectively. The notes are convertible, at the holder's option, at a conversion price of $45.68 per share of common stock. Upon conversion, the principal amount and all accrued interest will be repaid in cash and any conversion premium will be settled in shares of our common stock or, at our election, cash or any combination of cash and shares of our common stock. In connection with the convertible senior notes offering, the Company entered into Call Spread Transactions. The Call Spread Transactions included the purchase of call options and the sale of warrants. As a result of the Call Spread Transactions, the conversion price of $45.68 was effectively increased to $59.59. The Company is not entitled to redeem the notes prior to their stated maturity dates. Using prevailing interest rates on similar instruments, the estimated fair value of the 2014 and 2017 senior notes was $713 and $651, respectively, at December 31, 2011 and $697 and $627, respectively, at December 31, 2010. The foregoing fair value estimates were prepared with the assistance of an independent third party and may or may not reflect the actual trading value of this debt.

The Company's Consolidated Balance Sheets report the following related to the convertible senior notes:

	At December 31, 2011						At December 31, 2010
	Convertible Senior Notes Due						Convertible Senior Notes Due
	2012		2014		2017		2012		2014		2017
Additional paid-in capital	$	46	$	97	$	123	$	46	$	97	$	123
Principal amount	$	518	$	575	$	575	$	518	$	575	$	575
Unamortized debt discount		(4)		(63)		(123)		(30)		(86)		(141)
Net carrying amount	$	514	$	512	$	452	$	488	$	489	$	434

For the years ended December 31, 2011, 2010, and 2009, the Company recorded $32,$32, and $30 of interest expense for the contractual interest coupon and $67,$63, and $56 of amortization of the debt discount, respectively, related to the convertible senior notes. The remaining unamortized debt discount is amortized over the remaining one, three and six year periods of the 2012, 2014 and 2017 convertible senior notes, respectively. At December 31, 2011, the if-converted value of the 2012, 2014, and 2017 convertible senior notes exceeded the related principle amounts by $194, $236, and $236, respectively.

2019 and 2039 Senior Notes

In September 2009, the Company completed a two part public offering of $900 and $1,100uncollateralized senior notes maturing on October 1, 2019 and October 1, 2039, respectively. Net proceeds from the 2019 and 2039 notes were $895 and $1,080, respectively. The 2019 notes pay interest semi-annually at a rate of 5.13% per annum and the 2039 notes pay semi-annual interest of 6.25% per annum. Using prevailing interest rates on similar instruments, the estimated fair value of the 2019 and 2039 senior notes was $993 and $1,299, respectively, at December 31, 2011 and $984 and $1,189, respectively, at December 31, 2010. The foregoing fair value estimates were prepared with the assistance of an independent third party and may or may not reflect the actual trading value of this debt.

2035 Senior Notes

In March 2005, Newmont issued uncollateralized senior notes with a principal amount of $600 due April 2035 bearing an annual interest rate of 5 7/8%. Interest on the notes is paid semi-annually in April and October. Using prevailing interest rates on similar instruments, the estimated fair value of these senior notes was $680 and $624 at December 31, 2011 and 2010, respectively. The foregoing fair value estimate was prepared with the assistance of an independent third party and may or may not reflect the actual trading value of this debt.

Ahafo Project Facility

Newmont Ghana Gold Limited (“NGGL”) has an $85 project financing agreement with the International Finance Corporation (“IFC”) ($75) and a commercial lender ($10). NGGL borrowed $75 from the IFC in December 2008 and borrowed the remaining $10 in February 2009. Amounts borrowed are guaranteed by Newmont. Semi-annual payments through April 2017 are required. Borrowings bear interest of LIBOR plus 3.5%.

Debt Covenants

The Company's senior notes and sale-leaseback of the refractory ore treatment plant debt facilities contain various covenants and default provisions including payment defaults, limitation on liens, limitation on sales and leaseback agreements and merger restrictions.

The Ahafo project facility contains a financial ratio covenant requiring the Company to maintain a net debt (total debt net of cash and cash equivalents) to EBITDA (earnings before interest expense, income and mining taxes, depreciation and amortization) ratio of less than or equal to 4.0 and a net debt to total capitalization ratio of less than or equal to 62.5%.

In addition to the covenants noted above, the corporate revolving credit facility contains a financial ratio covenant requiring the Company to maintain a net debt (total debt net of cash and cash equivalents) to total capitalization ratio of less than or equal to 62.5%. Furthermore, the corporate revolving credit facility contains covenants limiting the sale of all or substantially all of the Company's assets, certain change of control provisions and a negative pledge on certain assets.

At December 31, 2011 and 2010, the Company and its related entities were in compliance with all debt covenants and provisions related to potential defaults.

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Property Plant and Mine Development

12 Months Ended

Dec. 31, 2011

Property Plant And Equipment [Abstract]

PROPERTY, PLANT AND MINE DEVELOPMENT

NOTE ##PPMDNote    PROPERTY, PLANT AND MINE DEVELOPMENT
			At December 31, 2011						At December 31, 2010
	Depreciable				Accumulated		Net Book				Accumulated		Net Book
	Life		Cost		Amortization		Value		Cost		Amortization		Value
	(in years)
Land	—		$	263	$	-	$	263	$	118	$	-	$	118
Facilities and equipment	1-	27		13,056		(5,926)		7,130		12,424		(5,460)		6,964
Mine development	1-	27		3,903		(1,758)		2,145		3,217		(1,445)		1,772
Mineral interests	1-	27		4,868		(713)		4,155		3,456		(660)		2,796
Asset retirement cost	1-	27		758		(305)		453		638		(238)		400
Construction-in-progress	—			1,735		-		1,735		857		-		857
			$	24,583	$	(8,702)	$	15,881	$	20,710	$	(7,803)	$	12,907
Leased assets included above in facilities and equipment	2-	25	$	374	$	(250)	$	124	$	421	$	(289)	$	132
			At December 31, 2011						At December 31, 2010
Mineral Interests			Gross						Gross
	Amortization		Carrying		Accumulated		Net Book		Carrying		Accumulated		Net Book
	Period		Value		Amortization		Value		Value		Amortization		Value
	(in years)
Production stage	1-	27	$	1,256	$	(713)	$	543	$	1,235	$	(660)	$	575
Development stage	—			149		-		149		149		-		149
Exploration stage	—			3,463		-		3,463		2,072		-		2,072
			$	4,868	$	(713)	$	4,155	$	3,456	$	(660)	$	2,796

Construction-in-progress atDecember 31, 2011 of $1,735 included $916 at South America primarily related to engineering and construction at Conga and infrastructure at Yanacocha,$269at Africa related to engineering and constructionat Akyem and infrastructure at Ahafo,$263 at North America related to infrastructure at Nevada, and $246 at Asia Pacific related to infrastructure at Boddington, Tanami, Kalgoorlie and Batu Hijau.

Construction-in-progress atDecember 31, 2010 of $857 included $266 at South Americaprimarily related to Conga andinfrastructure at Yanacocha, including a water treatment plant,$252 at North America related to tailings dam expansion and processing facility improvements in Nevadaand other infrastructure at Hope Bay and Nevada, $222 at Asia Pacific related to tailings dam expansion at Boddington and other infrastructure at Boddington, Tanami and Batu Hijau and$84 at Africa related to the Akyem project and infrastructure at Ahafo.

Construction-in-progress atDecember 31, 2011 of $1,735 included $916 at South America primarily related to engineering and construction at Conga and infrastructure at Yanacocha,$269at Africa related to engineering and constructionat Akyem and infrastructure at Ahafo,$263 at North America related to infrastructure at Nevada, and $246 at Asia Pacific related to infrastructure at Boddington, Tanami, Kalgoorlie and Batu Hijau.

Construction-in-progress atDecember 31, 2010 of $857 included $266 at South Americaprimarily related to Conga andinfrastructure at Yanacocha, including a water treatment plant,$252 at North America related to tailings dam expansion and processing facility improvements in Nevadaand other infrastructure at Hope Bay and Nevada, $222 at Asia Pacific related to tailings dam expansion at Boddington and other infrastructure at Boddington, Tanami and Batu Hijau and$84 at Africa related to the Akyem project and infrastructure at Ahafo.

Write-down of property, plant and mine development totaled $2,084, $6 and $7 for 2011, 2010 and 2009, respectively.The write-down in 2011 is primarily related to the Hope Bay project. The 2010 and 2009 write-downs aredue to miscellaneous asset impairments.

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Inventories (Tables)

12 Months Ended

Dec. 31, 2011

Inventories (Tables) [Abstract]

Summary of Inventories

NOTE ##InventoriesNote    INVENTORIES
		At December 31,
		2011		2010
	In-process	$	159	$	142
	Concentrate		116		111
	Precious metals		12		4
	Materials, supplies and other		427		401
		$	714	$	658

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Other Expense, Net (Tables)

12 Months Ended

Dec. 31, 2011

Other Expense, Net (Tables) [Abstract]

OTHER EXPENSE, NET

NOTE ##OthExpNote    OTHER EXPENSE, NET
	Years Ended December 31,
	2011		2010		2009
Regional administration	$	78	$	64	$	55
Community development		67		111		84
Acquisition costs		22		-		67
Indonesian value added tax settlement		21		10		-
Write-down of Hope Bay inventory		17		-		-
Western Australia power plant		15		15		37
Batu Hijau divestiture		7		4		12
World Gold Council dues		7		13		11
Revaluation of contingent consideration		1		2		23
Other		30		42		69
	$	265	$	261	$	358

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Other Liabilities

12 Months Ended

Dec. 31, 2011

Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]

OTHER LIABILITIES

NOTE ##OthLiabNote    OTHER LIABILITIES
			At December 31,
			2011		2010
	Other current liabilities:
		Refinery metal payable	$	796	$	617
		Derivative instruments		408		-
		Accrued capital expenditures		248		83
		Accrued operating costs		231		217
		Taxes other than income and mining		93		135
		Reclamation and remediation liabilities		71		64
		Interest		55		66
		Royalties		53		90
		Deferred income tax		50		54
		Boddington contingent consideration		24		32
		Holt property royalty		17		-
		Other		87		60
			$	2,133	$	1,418
	Other long-term liabilities:
		Holt property royalty	$	159	$	40
		Income and mining taxes		88		36
		Power supply agreements		45		45
		Boddington contingent consideration		30		51
		Derivative instruments		6		-
		Other		36		49
			$	364	$	221

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Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2011

Accumulated Other Comprehensive Income Loss Net Of Tax Abstract

Comprehensive Income (Loss) Note [Text Block]

NOTE ##AOCINote    ACCUMULATED OTHER COMPREHENSIVE INCOME
	At December 31,
	2011		2010
Unrealized gain on marketable securities, net of $159 and $200 tax expense, respectively	$	707	$	902
Foreign currency translation adjustments		163		155
Pension liability adjustments, net of $125 and $95 tax benefit, respectively		(231)		(176)
Other post-retirement benefit adjustments, net of $4 and $6 tax expense, respectively		6		11
Changes in fair value of cash flow hedge instruments, net of tax benefit (expense) of $71 and $(97), respectively		7		216
	$	652	$	1,108

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The Company's Consolidated Financial Statements have been prepared in accordance with United Statesgenerally accepted accounting principles (“GAAP”). The preparation of the Company's Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production amortization calculations; environmental, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpile and leach pad inventories; estimates of fair value for certain reporting units and asset impairments (including impairments of goodwill, long-lived assets and investments); write-downs of inventory, stockpiles and ore on leach pads to net realizable value; post-employment, post-retirement and other employee benefit liabilities; valuation allowances for deferred tax assets; reserves for contingencies and litigation; and the fair value and accounting treatment of financial instruments including marketable securities and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from these amounts estimated in these financial statements.

Principles of Consolidation

The Consolidated Financial Statements include the accounts of Newmont Mining Corporation and more-than-50%-owned subsidiaries that it controls and entities over which control is achieved through means other than voting rights. The Company also includes its pro-rata share of assets, liabilities and operations for unincorporated joint ventures in which it has an interest. All significant intercompany balances and transactions have been eliminated. The functional currency for the majority of the Company's operations, including the Australian operations, is the U.S. dollar.

The Company follows FASB Accounting Standards Codification (“ASC”) guidance for identification and reporting of entities over which control is achieved through means other than voting rights. The guidance defines such entities as Variable Interest Entities (“VIEs”). The Company has identified VIEs in connection with our interests in PT Newmont Nusa Tenggara (“PTNNT” or “Batu Hijau”) due to certain funding arrangements and shareholder commitments. The Company has financing arrangements with PT Pukuafu Indah (“PTPI”) and PT Indonesia Masbaga Investama (“PTIMI”), unrelated noncontrolling shareholders of PTNNT, whereby the Company agreed to advance certain funds to them in exchange for (i) a pledge of their combined 20% share of PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, (iii) a commitment from them to support the application of our standards to the operation of Batu Hijau and (iv) as of September 16,2011 in respect of PTPI only, powers of attorney to vote and sell PTNNT shares in support of the pledge, enforceable in an event of default as further security for the funding. The Company has determined itself to be the primary beneficiary of these entities and controls the operations of Batu Hijau, and therefore consolidates PTNNT in the Company's financial statements.

Cash and Cash Equivalents

Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value. Cash and cash equivalents are invested in United States Treasury securities and money market securities. Restricted cash is excluded from cash and cash equivalents and is included in other current and long-term assets.

Investments

Management determines the appropriate classification of its investments in equity securities at the time of purchase and reevaluates such determinations at each reporting date. Investments in incorporated entities in which the Company's ownership is greater than 20% and less than 50%, or which the Company does not control through majority ownership or means other than voting rights, are accounted for by the equity method and are included in long-term assets. The Company accounts for its marketable security investments as available for sale securities in accordance with ASC guidance on accounting for certain investments in debt and equity securities. The Company periodically evaluates whether declines in fair values of its investments below the Company's carrying value are other-than-temporary in accordance with ASC guidance. The Company's policy is to generally treat a decline in the investment's quoted market value that has lasted continuously for more than six months as an other-than-temporary decline in value. The Company also monitors its investments for events or changes in circumstances that have occurred that may have a significant adverse effect on the fair value of the investment and evaluates qualitative and quantitative factors regarding the severity and duration of the unrealized loss and the Company's ability to hold the investment until a forecasted recovery occurs to determine if the decline in value of an investment is other-than-temporary. Declines in fair value below the Company's carrying value deemed to be other-than-temporary are charged to earnings.

Stockpiles, Ore on Leach Pads and Inventories

As described below, costs that are incurred in or benefit the productive process are accumulated as stockpiles, ore on leach pads and inventories. Stockpiles, ore on leach pads and inventories are carried at the lower of average cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term metals prices, less the estimated costs to complete production and bring the product to sale. Write-downs of stockpiles, ore on leach pads and inventories tonet realizable value are reported as a component of Costs applicable to sales. The current portion of stockpiles, ore on leach pads and inventories is determined based on the expected amounts to be processed within the next 12 months. Stockpiles, ore on leach pads and inventories not expected to be processed within the next 12 months are classified as long-term. The major classifications are as follows:

Stockpiles

Stockpiles represent ore that has been extracted from the mine and is available for further processing. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces or pounds (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are allocated to stockpiles based on relative values of material stockpiled and processed using current mining costs incurred up to the point of stockpiling the ore, including applicable overhead and amortization relating to mining operations, and removed at each stockpile's average cost per recoverable unit.

Ore on Leach Pads

The recovery of gold from certain gold oxide ores is achieved through the heap leaching process. Under this method, oxide ore is placed on leach pads where it is treated with a chemical solution, which dissolves the gold contained in the ore. The resulting gold-bearing solution is further processed in a plant where the gold is recovered. Costs are added to ore on leach pads based on current mining costs, including applicable amortization relating to mining operations. Costs are removed from ore on leach pads as ounces are recovered based on the average cost per estimated recoverable ounce of gold on the leach pad.

The estimates of recoverable gold on the leach pads are calculated from the quantities of ore placed on the leach pads (measured tons added to the leach pads), the grade of ore placed on the leach pads (based on assay data) and a recovery percentage (based on ore type). In general, leach pads recover between 50% and 95% of the recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete.

Although the quantities of recoverable gold placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of gold actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored and estimates are refined based on actual results over time. Historically, the Company's operating results have not been materially impacted by variations between the estimated and actual recoverable quantities of gold on its leach pads. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis.

In-process Inventory

In-process inventories represent materials that are currently in the process of being converted to a saleable product. Conversion processes vary depending on the nature of the ore and the specific processing facility, but include mill in-circuit, flotation, leach and carbon-in-leach in circuits. In-process material is measured based on assays of the material fed into the process and the projected recoveries of the respective plants. In-process inventories are valued at the average cost of the material fed into the process attributable to the source material coming from the mines, stockpiles and/or leach pads plus the in-process conversion costs, including applicable amortization relating to the process facilities incurred to that point in the process.

Precious Metals Inventory

Precious metals inventories include gold doré and/or gold bullion. Precious metals that result from the Company's mining and processing activities are valued at the average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs.

Concentrate Inventory

Concentrate inventories represent copper and gold concentrate available for shipment. The Company values concentrate inventory at the average cost, including an allocable portion of support costs and amortization. Costs are added and removed to the concentrate inventory based on tons of concentrate and are valued at the lower of average cost or net realizable value.

Materials and Supplies

Materials and supplies are valued at the lower of average cost or net realizable value. Cost includes applicable taxes and freight.

Property, Plant and Mine Development

Facilities and equipment

Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. The facilities and equipment are amortized using the straight-line method at rates sufficient to amortize such costs over the estimated productive lives, which do not exceed the related estimated mine lives, of such facilities based on proven and probable reserves.

Mine Development

Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense. Capitalization of mine development project costs, that meet the definition of an asset, begins once mineralization is classified as proven and probable reserves.

Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting non-reserve mineralization to proven and probable reserves. All other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of Costs applicable to sales.

The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Where multiple open pits exist at a mining complex utilizing common processing facilities, pre-stripping costs are capitalized at each pit. The removal, production, and sale of de minimis saleable materials may occur during development and are recorded as Other income, net of incremental mining and processing costs.

The production phase of an open pit mine commences when saleable minerals, beyond a de minimis amount, are produced. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.The Company's definition of a mine and the mine's production phase may differ from that of other companies in the mining industry resulting in incomparable allocations of stripping costs to deferred mine development and production costs. Other mining companies may expense pre-stripping costs associated with subsequent pits within a mining complex.

Mine development costs are amortized using the units-of-production (“UOP”) method based on estimated recoverable ounces or pounds in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block or area.

Mineral Interests

Mineral interests include acquired interests in production, development and exploration stage properties. The mineral interests are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination.

The value of such assets is primarily driven by the nature and amount of mineralized material believed to be contained in such properties. Production stage mineral interests represent interests in operating properties that contain proven and probable reserves. Development stage mineral interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mineral interests represent interests in properties that are believed to potentially contain mineralized material consisting of (i) mineralized material such as inferred material within pits; measured, indicated and inferred material with insufficient drill spacing to qualify as proven and probable reserves; and inferred material in close proximity to proven and probable reserves; (ii) around-mine exploration potential such as inferred material not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of measured, indicated or inferred material and is comprised mainly of material outside of the immediate mine area; (iv) greenfields exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. The Company's mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. In certain limited situations, the nature of a mineral right changes from an exploration right to a mining right upon the establishment of proven and probable reserves. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and/or undeveloped mineralized material.

Asset Impairment

The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. An impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets, including goodwill, if any. An impairment loss is measured and recorded based on discounted estimated future cash flows. Future cash flows are estimated based on quantities of recoverable minerals, expected gold and other commodity prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans. Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization that is not part of the measured, indicated or inferred resource base, are included when determining the fair value of mine site reporting units at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold or other commodities that will be obtained after taking into account losses during ore processing and treatment. Estimates of recoverable minerals from such exploration stage mineral interests are risk adjusted based on management's relative confidence in such materials. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. The Company's estimates of future cash flows are based on numerous assumptions and it is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels and costs and capital are each subject to significant risks and uncertainties.

Revenue Recognition

Revenue is recognized, net of treatment and refining charges, from a sale when persuasive evidence of an arrangement exists, the price is determinable, the product has been delivered, the title has been transferred to the customer and collection of the sales price is reasonably assured. Revenues from by-product sales are credited to Costs applicable to sales as a by-product credit.

Concentrate sales are initially recorded based on 100% of the provisional sales prices. Until final settlement occurs, adjustments to the provisional sales prices are made to take into account the mark-to-market changes based on the forward prices for the estimated month of settlement. For changes in metal quantities upon receipt of new information and assay, the provisional sales quantities are adjusted as well. The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations between the date initially recorded and the date of final settlement. If a significant decline in metal prices occurs between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the sales proceeds received based on the provisional invoice.

The Company's sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward exchange price at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to final settlement.

Income and Mining Taxes

The Company accounts for income taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company's liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset for the Company, as measured by the statutory tax rates in effect. The Company derives its deferred income tax charge or benefit by recording the change in either the net deferred income tax liability or asset balance for the year. Mining taxes represent state and provincial taxes levied on mining operations and are classified as incometaxes; as such taxes are based on a percentage of mining profits. With respect to the earnings that the Company derives from the operations of its consolidated subsidiaries, in those situations where the earnings are indefinitely reinvested, no deferred taxes have been provided on the unremitted earnings (including the excess of the carrying value of the net equity of such entities for financial reporting purposes over the tax basis of such equity) of these consolidated companies.

The Company's deferred income tax assets include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.

The Company's operations involve dealing with uncertainties and judgments in the application of complex tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising from federal, state, and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due. The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company's current estimate of the tax liabilities. If the Company's estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If the estimate of tax liabilities proves to be greater than the ultimate assessment, a tax benefit would result. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income and mining tax expense.

Reclamation and Remediation Costs

Reclamation obligations are recognized when incurred and recorded as liabilities at fair value. The liability is accreted over time through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset's carrying value and amortized over the life of the related asset. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. The reclamation obligation is based on when spending for an existing disturbance will occur. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site in accordance with ASC guidance forreclamation obligations.

Future remediation costs for inactive mines are accrued based on management's best estimate at the end of each period of the costs expected to be incurred at a site. Such cost estimates include, where applicable, ongoing care, maintenance and monitoring costs. Changes in estimates at inactive mines are reflected in earnings in the period an estimate is revised.

Foreign Currency

The functional currency for the majority of the Company's operations, including the Australian operations, is the U.S. dollar. All monetary assets and liabilities where the functional currency is the U.S. dollar are translated at current exchange rates and the resulting adjustments are included in Other income, net. All assets and liabilities recorded in functional currencies other than U.S. dollars are translated at current exchange rates and the resulting adjustments are charged or credited directly to Accumulated other comprehensive income in Equity. Revenues and expenses in foreign currencies are translated at the weighted-average exchange rates for the period.

Derivative Instruments

Newmont has forward contracts designated as cash flow hedges in place to hedge against changes in foreign exchanges rates anddiesel prices, and forward starting swap contracts to hedge against changes in treasury rates. The fair value of derivative contracts qualifying as cash flow hedges are reflected as assets or liabilities in the balance sheet. To the extent these hedges are effective in offsetting forecasted cash flows from production costs (the “effective portion”), changes in fair value are deferred in Accumulated other comprehensive income. Amounts deferred in Accumulated other comprehensive income are reclassified toincomewhen the hedged transaction has occurred. The ineffective portion of the change in the fair value of the derivative is recorded in Other income, net in each period. Cash transactions related to the Company's derivative contracts accounted for as hedges are classified in the same category as the item being hedged in the statement of cash flows.

When derivative contracts qualifying as cash flow hedges are settled, accelerated or restructured before the maturity date of the contracts, the related amount in Accumulated other comprehensive income at the settlement date is deferred and reclassified to earnings, as applicable, when the originally designated hedged transaction impacts earnings.

The fair value of derivative contracts qualifying as fair value hedges are reflected as assets or liabilities in the balance sheet. Changes in fair value are recorded in income in each period, consistent with recording changes to the mark-to-market value of the underlying hedged asset or liability in income. Prior to maturity in May 2011, changes in the mark-to-market value of the effective portion of interest rate swaps utilized by the Company to swap a portion of its fixed rate interest rate risk to floating rate risk were recognized as a component of Interest expense, net.

Newmont assesses the effectiveness of the derivative contracts periodically using either regression analysis or the dollar offset approach, both retrospectively and prospectively, to determine whether the hedging instruments have been highly effective in offsetting changes in the fair value of the hedged items. The Company will also assess periodically whether the hedging instruments are expected to be highly effective in the future. If a hedging instrument is not expected to be highly effective, the Company will stop hedge accounting prospectively. In those instances, the gains or losses remain in Accumulated other comprehensive income until the hedged item affects earnings.

Net Incomeper Common Share

Basic and diluted income per share are presented for Net income attributable to Newmont stockholders and for Income from continuing operations attributable to Newmont stockholders. Basic income per share is computed by dividingincome available to common shareholders by the weighted-average number of outstanding common shares for the period, including the exchangeable shares (see Notes 14 and 23). Diluted income per share reflects the potential dilution that could occur if securities or other contracts that may require the issuance of common shares in the future were converted. Diluted income per share is computed by increasing the weighted-average number of outstanding common shares to include the additional common shares that would be outstanding after conversion and adjusting net income for changes that would result from the conversion. Only those securities or other contracts that result in a reduction in earnings per share are included in the calculation.

Comprehensive Income

In addition to Net income, Comprehensive income (loss)includes all changes in equity during a period, such as adjustments to minimum pension liabilities, foreign currency translation adjustments, the effective portion of changes in fair value of derivative instruments that qualify as cash flow hedges and cumulative unrecognized changes in fair value of marketable securities available-for-sale or other investments, except those resulting from investments by and distributions to owners.

Recently Adopted Accounting Pronouncements

Business Combinations

In December 2010, the ASC guidance for business combinations was updated to clarify existing guidance which requires a public entity to disclose pro forma revenue and earnings of the combined entity as though the business combination(s) that occurred during the current year had occurred as of the beginning of the comparable prior annual period only. The update also expands the supplemental pro forma disclosures required to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. Adoption of the updated guidance, effective for the Company's fiscal year beginning January 1, 2011, had no impact on the Company's consolidated financial position, results of operations or cash flows. Refer to Note15 for further details regarding the Company's acquisitions.

Fair Value Accounting

In January 2010, the ASC guidance for fair value measurements and disclosure was updated to require additional disclosures related to transfers in and out of level 1 and 2 fair value measurements. The guidance was amended to clarify the level of disaggregation required for assets and liabilities and the disclosures required for inputs and valuation techniques used to measure the fair value of assets and liabilities that fall in either level 2 or level 3. The updated guidance was effective for the Company's fiscal year beginning January 1, 2010. The adoption had no impact on the Company's consolidated financial position, results of operations or cash flows.

Also in January 2010, the ASC guidance for fair value measurements and disclosure was updated to require enhanced detail in the level 3 reconciliation. Adoption of the updated guidance, effective for the Company's fiscal year beginning January 1, 2011, had no impact on the Company's consolidated financial position, results of operations or cash flows. Refer to Note 16for further details regarding the Company's assets and liabilities measured at fair value.

Variable Interest Entities

In June 2009, the ASC guidance for consolidation accounting was updated to require an entity to perform a qualitative analysis to determine whether the enterprise's variable interest gives it a controlling financial interest in a VIE. This qualitative analysis identifies the primary beneficiary of a VIE as the entity that has both of the following characteristics: (i) the power to direct the activities of a VIE that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. The updated guidance also requires ongoing reassessments of the primary beneficiary of a VIE. Adoption of the updated guidance, effective for the Company's fiscal year beginning January 1, 2010, had no impact on the Company's consolidated financial position, results of operations or cash flows

Recently Issued Accounting Pronouncements

Goodwill Impairment

In September 2011, the ASC guidance was issued related to goodwill impairment. Under the updated guidance, an entity will have the option to first assess qualitatively whether it is necessary to perform the current two-step goodwill impairment test. If the Company believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The update does not change how the Company performs the two-step impairment test under current guidance. The update is effective for the Company's fiscal year beginning January 1, 2012 with early adoption permitted. The Company does not expect the updated guidance to have an impact on the consolidated financial position, results of operations or cash flows.

Comprehensive Income

In June 2011,theASC guidance was issued related to comprehensive income. Under the updated guidance, an entity will have the option to present the total of comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In addition, the update required certain disclosure requirements when reporting other comprehensive income. The update does not change the items reported in other comprehensive income or when an item of other comprehensive income must be reclassified to income. Subsequently,in December 2011, the FASB issued its final standard to defer the new requirement to present components of reclassifications of other comprehensive income on the face of the income statement. Companies will still be required to adopt the other requirements contained in the new standard on comprehensive income. The Company adopted the new guidance and its deferral and opted to present the total of comprehensive income in two separate but consecutive statements effective for its fiscal year beginning January 1, 2011. The early adoption had no impact on the Company's consolidated financial position, results of operations or cash flows.

Fair Value Accounting

In May 2011, the ASC guidance was issued related to disclosures around fair value accounting. The updated guidance clarifies different components of fair value accounting including the application of the highest and best use and valuation premise concepts, measuring the fair value of an instrument classified in a reporting entity's shareholders' equity and disclosing quantitative information about the unobservable inputs used in fair value measurements that are categorized in Level 3 of the fair value hierarchy. The update is effective for the Company's fiscal year beginning January 1, 2012. The Company does not expect the updated guidance to have a significant impact on the consolidated financial position, results of operations or cash flows.

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Related Party Transactions

12 Months Ended

Dec. 31, 2011

Related Party Transaction [Abstract]

RELATED PARTY TRANSACTIONS

NOTE ##RelPtyNote    RELATED PARTY TRANSACTIONS
	Newmont had transactions with AGR in 2010 and 2009.
		Years Ended December 31,
		2011		2010		2009
Gold and silver sales		$	-	$	3	$	10
Refining fees paid		$	-	$	-	$	3

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Derivative Instruments (Details) In Millions, unless otherwise specified	12 Months Ended							12 Months Ended															12 Months Ended																																																			12 Months Ended
	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)	Dec. 31, 2011 NZD	Dec. 31, 2011 Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 Diesel Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2010 Diesel Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Diesel Fixed Forward Contracts [Member] Cash Flow Hedging [Member] USD ($) gal	Dec. 31, 2010 Diesel Fixed Forward Contracts [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2009 Diesel Fixed Forward Contracts [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 AU Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 AU Dollar Operating Fixed Forward Contracts [Member] AUD	Dec. 31, 2010 AU Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 AU Dollar Operating Fixed Forward Contracts [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 AU Dollar Capital Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 AU Dollar Capital Fixed Forward Contracts [Member] AUD	Dec. 31, 2011 AU Dollar Capital Fixed Forward Contracts [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 NZ Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2010 NZ Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 NZ Dollar Operating Fixed Forward Contracts [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 Interest Rate Swap Contracts [Member] USD ($)	Dec. 31, 2010 Interest Rate Swap Contracts [Member] USD ($)	Dec. 31, 2011 Interest Rate Swap Contracts [Member] Fair Value Hedging [Member] USD ($)	Dec. 31, 2010 Interest Rate Swap Contracts [Member] Fair Value Hedging [Member] USD ($)	Dec. 31, 2009 Interest Rate Swap Contracts [Member] Fair Value Hedging [Member] USD ($)	Dec. 31, 2011 Forward Starting Swap Contracts [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 Foreign Exchange Contract [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2010 Foreign Exchange Contract [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2009 Foreign Exchange Contract [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2010 Debentures 8 5/8% (Hedged Portion) [Member] Fair Value Hedging [Member] USD ($)	Dec. 31, 2009 Debentures 8 5/8% (Hedged Portion) [Member] Fair Value Hedging [Member] USD ($)	Dec. 31, 2011 Debentures 8 5/8% (Hedged Portion) [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2010 Debentures 8 5/8% (Hedged Portion) [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2009 Treasury Rate Lock Contracts [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 Senior Notes Net Of Discount Due 2019 [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 Senior Notes Net Of Discount Due 2035 [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 Senior Notes Net Of Discount Due 2039 [Member] Cash Flow Hedging [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] Diesel Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] Diesel Fixed Forward Contracts [Member] Cash Flow Hedging [Member] gal	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] AU Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] AU Dollar Operating Fixed Forward Contracts [Member] AUD	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] AU Dollar Operating Fixed Forward Contracts [Member] Cash Flow Hedging [Member]	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] AU Dollar Capital Fixed Forward Contracts [Member]	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] AU Dollar Capital Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] AU Dollar Capital Fixed Forward Contracts [Member] AUD	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] NZ Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] NZ Dollar Operating Fixed Forward Contracts [Member] NZD	Dec. 31, 2011 Expected Maturity Date Year 2012 [Member] NZ Dollar Operating Fixed Forward Contracts [Member] Cash Flow Hedging [Member]	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] Diesel Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] Diesel Fixed Forward Contracts [Member] Cash Flow Hedging [Member] gal	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] AU Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] AU Dollar Operating Fixed Forward Contracts [Member] AUD	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] AU Dollar Operating Fixed Forward Contracts [Member] Cash Flow Hedging [Member]	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] AU Dollar Capital Fixed Forward Contracts [Member]	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] AU Dollar Capital Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] AU Dollar Capital Fixed Forward Contracts [Member] AUD	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] NZ Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] NZ Dollar Operating Fixed Forward Contracts [Member] NZD	Dec. 31, 2011 Expected Maturity Date Year 2013 [Member] NZ Dollar Operating Fixed Forward Contracts [Member] Cash Flow Hedging [Member]	Dec. 31, 2011 Expected Maturity Date Year 2014 [Member] Diesel Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2014 [Member] Diesel Fixed Forward Contracts [Member] Cash Flow Hedging [Member] gal	Dec. 31, 2011 Expected Maturity Date Year 2014 [Member] AU Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2014 [Member] AU Dollar Operating Fixed Forward Contracts [Member] AUD	Dec. 31, 2011 Expected Maturity Date Year 2014 [Member] AU Dollar Operating Fixed Forward Contracts [Member] Cash Flow Hedging [Member]	Dec. 31, 2011 Expected Maturity Date Year 2014 [Member] AU Dollar Capital Fixed Forward Contracts [Member]	Dec. 31, 2011 Expected Maturity Date Year 2014 [Member] AU Dollar Capital Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2014 [Member] AU Dollar Capital Fixed Forward Contracts [Member] AUD	Dec. 31, 2011 Expected Maturity Date Year 2015 [Member] AU Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2015 [Member] AU Dollar Operating Fixed Forward Contracts [Member] AUD	Dec. 31, 2011 Expected Maturity Date Year 2015 [Member] AU Dollar Operating Fixed Forward Contracts [Member] Cash Flow Hedging [Member]	Dec. 31, 2011 Expected Maturity Date Year 2016 [Member] AU Dollar Operating Fixed Forward Contracts [Member] USD ($)	Dec. 31, 2011 Expected Maturity Date Year 2016 [Member] AU Dollar Operating Fixed Forward Contracts [Member] AUD	Dec. 31, 2011 Expected Maturity Date Year 2016 [Member] AU Dollar Operating Fixed Forward Contracts [Member] Cash Flow Hedging [Member]	Dec. 31, 2011 Gold [Member] USD ($) oz	Dec. 31, 2011 Copper [Member] USD ($) lb
Foreign Currency Derivatives
Average rate								2.84			0.90				0.99			0.76																				2.81		0.91			42	1.01		0.75			2.90		0.92			28	0.98		0.77			2.82		0.89			23	0.96		0.87			0.89
Notional Amount of Foreign Currency Derivatives				85								3,350				130																									1,218				57		62					951				51		23					665				22		375			141
Expected hedge ratio											0.00%	0.00%						0.00%																					56.00%			76.00%						48.00%		24.00%			62.00%						20.00%	7.00%				46.00%						26.00%			10.00%
Diesel Derivative Contracts Outstanding
Average rate								2.84			0.90				0.99			0.76																				2.81		0.91			42	1.01		0.75			2.90		0.92			28	0.98		0.77			2.82		0.89			23	0.96		0.87			0.89
Diesel gallons								39,000,000																															25,000,000											11,000,000											3,000,000
Expected hedge ratio											0.00%	0.00%						0.00%																					56.00%			76.00%						48.00%		24.00%			62.00%						20.00%	7.00%				46.00%						26.00%			10.00%
Fair values of Derivative Instruments Designated as Hedges
Other Assets Current		196			127	4	7				121		181					2	5		0	3
Other Long-Term Assets		116			112	0	1				112		114					0	1			0
Other Current Liabilities					408			2						6						1						399
Other Long-Term Liabilities	6	0			6			1					0	4			1
Location and Amount of Gains (Losses) Reported in Condensed Consolidated Financial Statements
Gain (loss) recognized in other comprehensive income (effective portion)								6	6	7																(399)	151	287	245					11	6	10	5
Gain (loss) reclassified from Accumulated other comprehensive income (loss) into income (effective portion)								14	4	(11)																	188	92	(6)
Loss reclassified from Accumulated other comprehensive income into income (ineffective portion)	(17)	(2)	(6)																				(2)	(4)	(3)	(15)				2	(3)
Gains (Losses) Recorded for Hedged Item Related to Fair Value Hedges
Gain (loss) recognized in income (effective portion)																							3	6	4						(1)	(6)	0
Gain (loss) recognized in income (ineffective portion)	(17)	(2)	(6)																				(2)	(4)	(3)	(15)				2	(3)
Derivative Instruments (Textuals) [Abstract]
Gain (loss) recognized in other comprehensive income (effective portion)								6	6	7																(399)	151	287	245					11	6	10	5
Fixed to floating swap contracts, amount																							222
Approximate gain amount to be reclassified from accumulated other comprehensive income, net of tax to income	80
Average price																																																																										1,572.00	4.00
Recorded average provisional price																																																																										1,567.00	4.02
Provisional pricing mark-to-market gain (loss)																																																																										31	92
Provisional pricing mark-to-market gain (loss) rate																																																																										5	0.26
Provisional pricing quantity sales																																																																										85,000	79,000,000
Average price, subject to final pricing																																																																										1,576.00	3.43
Forward starting swaps notional amount																										2,000
Charge related to hedge ineffectiveness	17	2	6																				2	4	3	15				(2)	3
Hedge contracts net liability position																										$ 399

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies [Abstract]

Use Of Estimates

Use of Estimates

The Company's Consolidated Financial Statements have been prepared in accordance with United Statesgenerally accepted accounting principles (“GAAP”). The preparation of the Company's Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production amortization calculations; environmental, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpile and leach pad inventories; estimates of fair value for certain reporting units and asset impairments (including impairments of goodwill, long-lived assets and investments); write-downs of inventory, stockpiles and ore on leach pads to net realizable value; post-employment, post-retirement and other employee benefit liabilities; valuation allowances for deferred tax assets; reserves for contingencies and litigation; and the fair value and accounting treatment of financial instruments including marketable securities and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from these amounts estimated in these financial statements.

Principles of Consolidation

Principles of Consolidation

The Consolidated Financial Statements include the accounts of Newmont Mining Corporation and more-than-50%-owned subsidiaries that it controls and entities over which control is achieved through means other than voting rights. The Company also includes its pro-rata share of assets, liabilities and operations for unincorporated joint ventures in which it has an interest. All significant intercompany balances and transactions have been eliminated. The functional currency for the majority of the Company's operations, including the Australian operations, is the U.S. dollar.

The Company follows FASB Accounting Standards Codification (“ASC”) guidance for identification and reporting of entities over which control is achieved through means other than voting rights. The guidance defines such entities as Variable Interest Entities (“VIEs”). The Company has identified VIEs in connection with our interests in PT Newmont Nusa Tenggara (“PTNNT” or “Batu Hijau”) due to certain funding arrangements and shareholder commitments. The Company has financing arrangements with PT Pukuafu Indah (“PTPI”) and PT Indonesia Masbaga Investama (“PTIMI”), unrelated noncontrolling shareholders of PTNNT, whereby the Company agreed to advance certain funds to them in exchange for (i) a pledge of their combined 20% share of PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, (iii) a commitment from them to support the application of our standards to the operation of Batu Hijau and (iv) as of September 16,2011 in respect of PTPI only, powers of attorney to vote and sell PTNNT shares in support of the pledge, enforceable in an event of default as further security for the funding. The Company has determined itself to be the primary beneficiary of these entities and controls the operations of Batu Hijau, and therefore consolidates PTNNT in the Company's financial statements.

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value. Cash and cash equivalents are invested in United States Treasury securities and money market securities. Restricted cash is excluded from cash and cash equivalents and is included in other current and long-term assets.

Investments

Investments

Management determines the appropriate classification of its investments in equity securities at the time of purchase and reevaluates such determinations at each reporting date. Investments in incorporated entities in which the Company's ownership is greater than 20% and less than 50%, or which the Company does not control through majority ownership or means other than voting rights, are accounted for by the equity method and are included in long-term assets. The Company accounts for its marketable security investments as available for sale securities in accordance with ASC guidance on accounting for certain investments in debt and equity securities. The Company periodically evaluates whether declines in fair values of its investments below the Company's carrying value are other-than-temporary in accordance with ASC guidance. The Company's policy is to generally treat a decline in the investment's quoted market value that has lasted continuously for more than six months as an other-than-temporary decline in value. The Company also monitors its investments for events or changes in circumstances that have occurred that may have a significant adverse effect on the fair value of the investment and evaluates qualitative and quantitative factors regarding the severity and duration of the unrealized loss and the Company's ability to hold the investment until a forecasted recovery occurs to determine if the decline in value of an investment is other-than-temporary. Declines in fair value below the Company's carrying value deemed to be other-than-temporary are charged to earnings.

Stockpiles, Ore on Leach Pads and Inventories

Stockpiles, Ore on Leach Pads and Inventories

As described below, costs that are incurred in or benefit the productive process are accumulated as stockpiles, ore on leach pads and inventories. Stockpiles, ore on leach pads and inventories are carried at the lower of average cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term metals prices, less the estimated costs to complete production and bring the product to sale. Write-downs of stockpiles, ore on leach pads and inventories tonet realizable value are reported as a component of Costs applicable to sales. The current portion of stockpiles, ore on leach pads and inventories is determined based on the expected amounts to be processed within the next 12 months. Stockpiles, ore on leach pads and inventories not expected to be processed within the next 12 months are classified as long-term. The major classifications are as follows:

Stockpiles

Stockpiles represent ore that has been extracted from the mine and is available for further processing. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces or pounds (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are allocated to stockpiles based on relative values of material stockpiled and processed using current mining costs incurred up to the point of stockpiling the ore, including applicable overhead and amortization relating to mining operations, and removed at each stockpile's average cost per recoverable unit.

Ore on Leach Pads

The recovery of gold from certain gold oxide ores is achieved through the heap leaching process. Under this method, oxide ore is placed on leach pads where it is treated with a chemical solution, which dissolves the gold contained in the ore. The resulting gold-bearing solution is further processed in a plant where the gold is recovered. Costs are added to ore on leach pads based on current mining costs, including applicable amortization relating to mining operations. Costs are removed from ore on leach pads as ounces are recovered based on the average cost per estimated recoverable ounce of gold on the leach pad.

The estimates of recoverable gold on the leach pads are calculated from the quantities of ore placed on the leach pads (measured tons added to the leach pads), the grade of ore placed on the leach pads (based on assay data) and a recovery percentage (based on ore type). In general, leach pads recover between 50% and 95% of the recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete.

Although the quantities of recoverable gold placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of gold actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored and estimates are refined based on actual results over time. Historically, the Company's operating results have not been materially impacted by variations between the estimated and actual recoverable quantities of gold on its leach pads. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis.

In-process Inventory

In-process inventories represent materials that are currently in the process of being converted to a saleable product. Conversion processes vary depending on the nature of the ore and the specific processing facility, but include mill in-circuit, flotation, leach and carbon-in-leach in circuits. In-process material is measured based on assays of the material fed into the process and the projected recoveries of the respective plants. In-process inventories are valued at the average cost of the material fed into the process attributable to the source material coming from the mines, stockpiles and/or leach pads plus the in-process conversion costs, including applicable amortization relating to the process facilities incurred to that point in the process.

Precious Metals Inventory

Precious metals inventories include gold doré and/or gold bullion. Precious metals that result from the Company's mining and processing activities are valued at the average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs.

Concentrate Inventory

Concentrate inventories represent copper and gold concentrate available for shipment. The Company values concentrate inventory at the average cost, including an allocable portion of support costs and amortization. Costs are added and removed to the concentrate inventory based on tons of concentrate and are valued at the lower of average cost or net realizable value.

Materials and Supplies

Materials and supplies are valued at the lower of average cost or net realizable value. Cost includes applicable taxes and freight.

Property,Plant and Mine Development

Property, Plant and Mine Development

Facilities and equipment

Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. The facilities and equipment are amortized using the straight-line method at rates sufficient to amortize such costs over the estimated productive lives, which do not exceed the related estimated mine lives, of such facilities based on proven and probable reserves.

Mine Development

Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense. Capitalization of mine development project costs, that meet the definition of an asset, begins once mineralization is classified as proven and probable reserves.

Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting non-reserve mineralization to proven and probable reserves. All other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of Costs applicable to sales.

The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Where multiple open pits exist at a mining complex utilizing common processing facilities, pre-stripping costs are capitalized at each pit. The removal, production, and sale of de minimis saleable materials may occur during development and are recorded as Other income, net of incremental mining and processing costs.

The production phase of an open pit mine commences when saleable minerals, beyond a de minimis amount, are produced. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.The Company's definition of a mine and the mine's production phase may differ from that of other companies in the mining industry resulting in incomparable allocations of stripping costs to deferred mine development and production costs. Other mining companies may expense pre-stripping costs associated with subsequent pits within a mining complex.

Mine development costs are amortized using the units-of-production (“UOP”) method based on estimated recoverable ounces or pounds in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block or area.

Mineral Interests

Mineral interests include acquired interests in production, development and exploration stage properties. The mineral interests are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination.

The value of such assets is primarily driven by the nature and amount of mineralized material believed to be contained in such properties. Production stage mineral interests represent interests in operating properties that contain proven and probable reserves. Development stage mineral interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mineral interests represent interests in properties that are believed to potentially contain mineralized material consisting of (i) mineralized material such as inferred material within pits; measured, indicated and inferred material with insufficient drill spacing to qualify as proven and probable reserves; and inferred material in close proximity to proven and probable reserves; (ii) around-mine exploration potential such as inferred material not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of measured, indicated or inferred material and is comprised mainly of material outside of the immediate mine area; (iv) greenfields exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. The Company's mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. In certain limited situations, the nature of a mineral right changes from an exploration right to a mining right upon the establishment of proven and probable reserves. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and/or undeveloped mineralized material.

Asset Impairment

Asset Impairment

The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. An impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets, including goodwill, if any. An impairment loss is measured and recorded based on discounted estimated future cash flows. Future cash flows are estimated based on quantities of recoverable minerals, expected gold and other commodity prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans. Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization that is not part of the measured, indicated or inferred resource base, are included when determining the fair value of mine site reporting units at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold or other commodities that will be obtained after taking into account losses during ore processing and treatment. Estimates of recoverable minerals from such exploration stage mineral interests are risk adjusted based on management's relative confidence in such materials. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. The Company's estimates of future cash flows are based on numerous assumptions and it is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels and costs and capital are each subject to significant risks and uncertainties.

Revenue Recognition

Revenue Recognition

Revenue is recognized, net of treatment and refining charges, from a sale when persuasive evidence of an arrangement exists, the price is determinable, the product has been delivered, the title has been transferred to the customer and collection of the sales price is reasonably assured. Revenues from by-product sales are credited to Costs applicable to sales as a by-product credit.

Concentrate sales are initially recorded based on 100% of the provisional sales prices. Until final settlement occurs, adjustments to the provisional sales prices are made to take into account the mark-to-market changes based on the forward prices for the estimated month of settlement. For changes in metal quantities upon receipt of new information and assay, the provisional sales quantities are adjusted as well. The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations between the date initially recorded and the date of final settlement. If a significant decline in metal prices occurs between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the sales proceeds received based on the provisional invoice.

The Company's sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward exchange price at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to final settlement.

Income and Mining Taxes

Income and Mining Taxes

The Company accounts for income taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company's liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset for the Company, as measured by the statutory tax rates in effect. The Company derives its deferred income tax charge or benefit by recording the change in either the net deferred income tax liability or asset balance for the year. Mining taxes represent state and provincial taxes levied on mining operations and are classified as incometaxes; as such taxes are based on a percentage of mining profits. With respect to the earnings that the Company derives from the operations of its consolidated subsidiaries, in those situations where the earnings are indefinitely reinvested, no deferred taxes have been provided on the unremitted earnings (including the excess of the carrying value of the net equity of such entities for financial reporting purposes over the tax basis of such equity) of these consolidated companies.

The Company's deferred income tax assets include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.

The Company's operations involve dealing with uncertainties and judgments in the application of complex tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising from federal, state, and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due. The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company's current estimate of the tax liabilities. If the Company's estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If the estimate of tax liabilities proves to be greater than the ultimate assessment, a tax benefit would result. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income and mining tax expense.

Reclamation and Remediation Costs

Reclamation and Remediation Costs Reclamation obligations are recognized when incurred and recorded as liabilities at fair value. The liability is accreted over time through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. The reclamation obligation is based on when spending for an existing disturbance will occur. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site in accordance with ASC guidance for reclamation obligations. Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the costs expected to be incurred at a site. Such cost estimates include, where applicable, ongoing care, maintenance and monitoring costs. Changes in estimates at inactive mines are reflected in earnings in the period an estimate is revised.

Foreign Currency

Foreign Currency

The functional currency for the majority of the Company's operations, including the Australian operations, is the U.S. dollar. All monetary assets and liabilities where the functional currency is the U.S. dollar are translated at current exchange rates and the resulting adjustments are included in Other income, net. All assets and liabilities recorded in functional currencies other than U.S. dollars are translated at current exchange rates and the resulting adjustments are charged or credited directly to Accumulated other comprehensive income in Equity. Revenues and expenses in foreign currencies are translated at the weighted-average exchange rates for the period.

Derivative Instruments

Derivative Instruments

Newmont has forward contracts designated as cash flow hedges in place to hedge against changes in foreign exchanges rates anddiesel prices, and forward starting swap contracts to hedge against changes in treasury rates. The fair value of derivative contracts qualifying as cash flow hedges are reflected as assets or liabilities in the balance sheet. To the extent these hedges are effective in offsetting forecasted cash flows from production costs (the “effective portion”), changes in fair value are deferred in Accumulated other comprehensive income. Amounts deferred in Accumulated other comprehensive income are reclassified toincomewhen the hedged transaction has occurred. The ineffective portion of the change in the fair value of the derivative is recorded in Other income, net in each period. Cash transactions related to the Company's derivative contracts accounted for as hedges are classified in the same category as the item being hedged in the statement of cash flows.

When derivative contracts qualifying as cash flow hedges are settled, accelerated or restructured before the maturity date of the contracts, the related amount in Accumulated other comprehensive income at the settlement date is deferred and reclassified to earnings, as applicable, when the originally designated hedged transaction impacts earnings.

The fair value of derivative contracts qualifying as fair value hedges are reflected as assets or liabilities in the balance sheet. Changes in fair value are recorded in income in each period, consistent with recording changes to the mark-to-market value of the underlying hedged asset or liability in income. Prior to maturity in May 2011, changes in the mark-to-market value of the effective portion of interest rate swaps utilized by the Company to swap a portion of its fixed rate interest rate risk to floating rate risk were recognized as a component of Interest expense, net.

Newmont assesses the effectiveness of the derivative contracts periodically using either regression analysis or the dollar offset approach, both retrospectively and prospectively, to determine whether the hedging instruments have been highly effective in offsetting changes in the fair value of the hedged items. The Company will also assess periodically whether the hedging instruments are expected to be highly effective in the future. If a hedging instrument is not expected to be highly effective, the Company will stop hedge accounting prospectively. In those instances, the gains or losses remain in Accumulated other comprehensive income until the hedged item affects earnings.

Net Income per Common Share

Net Incomeper Common Share

Basic and diluted income per share are presented for Net income attributable to Newmont stockholders and for Income from continuing operations attributable to Newmont stockholders. Basic income per share is computed by dividingincome available to common shareholders by the weighted-average number of outstanding common shares for the period, including the exchangeable shares (see Notes 14 and 23). Diluted income per share reflects the potential dilution that could occur if securities or other contracts that may require the issuance of common shares in the future were converted. Diluted income per share is computed by increasing the weighted-average number of outstanding common shares to include the additional common shares that would be outstanding after conversion and adjusting net income for changes that would result from the conversion. Only those securities or other contracts that result in a reduction in earnings per share are included in the calculation.

Comprehensive Income Policy

Comprehensive Income In addition to Net income, Comprehensive income (loss) includes all changes in equity during a period, such as adjustments to minimum pension liabilities, foreign currency translation adjustments, the effective portion of changes in fair value of derivative instruments that qualify as cash flow hedges and cumulative unrecognized changes in fair value of marketable securities available-for-sale or other investments, except those resulting from investments by and distributions to owners.

Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Business Combinations

In December 2010, the ASC guidance for business combinations was updated to clarify existing guidance which requires a public entity to disclose pro forma revenue and earnings of the combined entity as though the business combination(s) that occurred during the current year had occurred as of the beginning of the comparable prior annual period only. The update also expands the supplemental pro forma disclosures required to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. Adoption of the updated guidance, effective for the Company's fiscal year beginning January 1, 2011, had no impact on the Company's consolidated financial position, results of operations or cash flows. Refer to Note15 for further details regarding the Company's acquisitions.

Fair Value Accounting

In January 2010, the ASC guidance for fair value measurements and disclosure was updated to require additional disclosures related to transfers in and out of level 1 and 2 fair value measurements. The guidance was amended to clarify the level of disaggregation required for assets and liabilities and the disclosures required for inputs and valuation techniques used to measure the fair value of assets and liabilities that fall in either level 2 or level 3. The updated guidance was effective for the Company's fiscal year beginning January 1, 2010. The adoption had no impact on the Company's consolidated financial position, results of operations or cash flows.

Also in January 2010, the ASC guidance for fair value measurements and disclosure was updated to require enhanced detail in the level 3 reconciliation. Adoption of the updated guidance, effective for the Company's fiscal year beginning January 1, 2011, had no impact on the Company's consolidated financial position, results of operations or cash flows. Refer to Note 16for further details regarding the Company's assets and liabilities measured at fair value.

Variable Interest Entities

In June 2009, the ASC guidance for consolidation accounting was updated to require an entity to perform a qualitative analysis to determine whether the enterprise's variable interest gives it a controlling financial interest in a VIE. This qualitative analysis identifies the primary beneficiary of a VIE as the entity that has both of the following characteristics: (i) the power to direct the activities of a VIE that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. The updated guidance also requires ongoing reassessments of the primary beneficiary of a VIE. Adoption of the updated guidance, effective for the Company's fiscal year beginning January 1, 2010, had no impact on the Company's consolidated financial position, results of operations or cash flows

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

Goodwill Impairment

In September 2011, the ASC guidance was issued related to goodwill impairment. Under the updated guidance, an entity will have the option to first assess qualitatively whether it is necessary to perform the current two-step goodwill impairment test. If the Company believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The update does not change how the Company performs the two-step impairment test under current guidance. The update is effective for the Company's fiscal year beginning January 1, 2012 with early adoption permitted. The Company does not expect the updated guidance to have an impact on the consolidated financial position, results of operations or cash flows.

Comprehensive Income

In June 2011,theASC guidance was issued related to comprehensive income. Under the updated guidance, an entity will have the option to present the total of comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In addition, the update required certain disclosure requirements when reporting other comprehensive income. The update does not change the items reported in other comprehensive income or when an item of other comprehensive income must be reclassified to income. Subsequently,in December 2011, the FASB issued its final standard to defer the new requirement to present components of reclassifications of other comprehensive income on the face of the income statement. Companies will still be required to adopt the other requirements contained in the new standard on comprehensive income. The Company adopted the new guidance and its deferral and opted to present the total of comprehensive income in two separate but consecutive statements effective for its fiscal year beginning January 1, 2011. The early adoption had no impact on the Company's consolidated financial position, results of operations or cash flows.

Fair Value Accounting

In May 2011, the ASC guidance was issued related to disclosures around fair value accounting. The updated guidance clarifies different components of fair value accounting including the application of the highest and best use and valuation premise concepts, measuring the fair value of an instrument classified in a reporting entity's shareholders' equity and disclosing quantitative information about the unobservable inputs used in fair value measurements that are categorized in Level 3 of the fair value hierarchy. The update is effective for the Company's fiscal year beginning January 1, 2012. The Company does not expect the updated guidance to have a significant impact on the consolidated financial position, results of operations or cash flows.

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Fair Value Accounting (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Accounting (Tables) [Abstract]

Fair Value Measurement of Assets and Liabilities

			Fair Value at December 31, 2011
			Total		Level 1		Level 2		Level 3
Assets:
	Cash equivalents		$	84	$	84	$	-	$	-
	Marketable equity securities:
		Extractive industries		1,450		1,450		-		-
		Other		4		4		-		-
	Marketable debt securities:
		Asset backed commercial paper		19		-		-		19
		Corporate		11		11		-		-
		Auction rate securities		5		-		-		5
	Trade receivable from provisional copper			194		194		-		-
		and gold concentrate sales, net
	Derivative instruments, net:
		Foreign exchange forward contracts		223		-		223		-
		Diesel forward contracts		1		-		1		-
			$	1,991	$	1,743	$	224	$	24
Liabilities:
	Derivative instruments:
		Forward Starting Swaps Contracts	$	399	$	-	$	399	$	-
	Boddington contingent consideration			54		-		-		54
	Holt Property Royalty			176						176
			$	629	$	-	$	399	$	230

Changes in the Fair Value of the Company's Level 3 Financial Assets

		Auction Rate Securities		Asset Backed Commercial Paper		Total Assets		Boddington Contingent Consideration		Holt Property Royalty		Total Liabilities
December 31, 2010		$	5	$	19	$	24	$	83	$	-	$	83
	Initial Valuation		-		-		-		-		183		183
	Revaluation		-		-		-		1		-		1
	Settlements		-		-		-		(30)		(7)		(37)
December 31, 2011		$	5	$	19	$	24	$	54	$	176	$	230

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

				Fair Value Measurement Using
Description		At December 31, 2011		Level 1		Level 2		Level 3		Total loss
Inventories:
	Materials, supplies and other	$	17	$	0	$	0	$	17	$	(17)
Property, plant and mine development:
	Facilities and equipment		0		0		0		0		(107)
	Construction-in-progress		7		0		0		7		(207)
	Mineral interests		0		0		0		0	(1,766)
			7		0		0		7	(2,080)
		$	24	$	0	$	0	$	24	$	(2,097)

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Other Expense, Net (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Other Expense, Net
Regional administration	$ 78	$ 64	$ 55
Community development	67	111	84
Acquisition costs	22	0	67
Indonesian value added tax settlement	21	10	0
Writedown of Hope Bay inventory	17	0	0
Western Australia power plant	15	15	37
Batu Hijau divestiture	7	4	12
World Gold Council dues	7	13	11
Revaluation of contingent consideration	1	2	23
Other	30	42	69
Other expense, total	$ 265	$ 261	$ 358

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Statements of Consolidated Income (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011		Dec. 31, 2010		Dec. 31, 2009
CONSOLIDATED STATEMENTS OF INCOME (unaudited) [Abstract]
Sales	$ 10,358		$ 9,540		$ 7,705
Costs and expenses
Costs applicable to sales	3,890	[1]	3,484	[1]	3,008	[1]
Amortization	1,036		945		806
Reclamation and remediation	120		65		59
Exploration	350		218		187
Advanced projects, research and development	373		216		135
General and administrative	198		178		159
Write-down of property, plant and mine development	2,084		6		7
Other expense, net	265		261		358
Total costs and expenses	8,316		5,373		4,719
Other income (expense)
Other income, net	12		109		88
Interest expense, net of capitalized interest of $52, $21 and $111, respectively	(244)		(279)		(120)
Total other income (expense)	(232)		(170)		(32)
Income before income and mining tax and other items	1,810		3,997		2,954
Income and mining tax expense	(713)		(856)		(829)
Equity income (loss) of affiliates	11		3		(16)
Income from continuing operations	1,108		3,144		2,109
Loss from discontinued operations	(136)		(28)		(16)
Net income	972		3,116		2,093
Net income attributable to noncontrolling interests	(606)		(839)		(796)
Net income attributable to Newmont stockholders	366		2,277		1,297
Net income attributable to Newmont stockholders
Continuing operations	502		2,305		1,308
Discontinued operations	(136)		(28)		(11)
Net income attributable to Newmont common stockholders	366		2,277		1,297
Income per common share, basic
Continuing operations	$ 1.02		$ 4.69		$ 2.68
Discontinued operations	$ (0.28)		$ (0.06)		$ (0.02)
Earnings per share basic	$ 0.74		$ 4.63		$ 2.66
Income per common share, diluted
Continuing operations	$ 1.00		$ 4.61		$ 2.68
Discontinued operations	$ (0.27)		$ (0.06)		$ (0.02)
Earnings per share diluted	$ 0.73		$ 4.55		$ 2.66
Cash dividends declared per common share	$ 1.00		$ 0.50		$ 0.40
Capitalized interest
Capitalized interest	$ 52		$ 21		$ 111

[1] (1) Excludes Amortization and Reclamation and remediation.

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Other Income, Net (Tables)

12 Months Ended

Dec. 31, 2011

Other Income, Net (Tables) [Abstract]

Other Income, Net

NOTE ##OthIncNote    OTHER INCOME, NET
		Years Ended December 31,
		2011		2010		2009
Gain on sale of investments, net		$	64	$	16	$	8
Income from developing projects, net			42		18		4
Canadian Oil Sands			34		55		26
Refinery income			27		14		14
Gain on asset sales, net			17		48		16
Interest income			11		11		16
Foreign currency exchange losses, net			(4)		(64)		(1)
Loss on ineffective portion of derivative
	instruments, net		(17)		(2)		(6)
Impairment of marketable securities			(180)		(1)		(6)
Other			18		14		17
		$	12	$	109	$	88

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Condensed Consolidating Financial Statements (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011		Dec. 31, 2010		Dec. 31, 2009		Dec. 31, 2008
Condensed Consolidating Statement of Income
Sales	$ 2,765	$ 2,744	$ 2,384	$ 2,465	$ 2,548	$ 2,597	$ 2,153	$ 2,242	$ 10,358		$ 9,540		$ 7,705
Costs and expenses
Costs applicable to sales									3,890	[1]	3,484	[1]	3,008	[1]
Amortization									1,036		945		806
Reclamation and remediation									120		65		59
Exploration									350		218		187
Advanced projects, research and development									373		216		135
General and administrative									198		178		159
Write-down of property, plant and mine development									2,084		6		7
Other expense, net									265		261		358
Total costs and expenses									8,316		5,373		4,719
Other income (expense)
Other income, net									12		109		88
Interest income-intercompany									0		0		0
Interest expense-intercompany									0		0		0
Interest expense, net									244		279		120
Total other income (expense)									(232)		(170)		(32)
Income before income and mining tax and other items									1,810		3,997		2,954
Income and mining tax expense									(713)		(856)		(829)
Equity income (loss) of affiliates									11		3		(16)
Income from continuing operations									1,108		3,144		2,109
Income from discontinued operations									(136)		(28)		(16)
Net income									972		3,116		2,093
Net income attributable to noncontrolling interests									(606)		(839)		(796)
Net income attributable to Newmont stockholders	(1,028)	493	387	514	812	537	382	546	366		2,277		1,297
Operating activities:
Net income									972		3,116		2,093
Adjustments									2,930		818		1,048
Net change in operating assets and liabilities									(311)		(754)		(227)
Net cash provided from (used in) continuing operations									3,591		3,180		2,914
Net cash used in discontinued operations									(7)		(13)		33
Net cash provided from (used in) operations									3,584		3,167		2,947
Investing activities:
Additions to property, plant and mine development									(2,787)		(1,402)		(1,769)
Acquisitions, net									(2,309)		(4)		(1,007)
Proceeds from sale of marketable securities									81		3		17
Purchases of marketable securities									(21)		(28)		(5)
Proceeds from sale of other assets									9		56		18
Other									(40)		(44)		(35)
Net cash used in investing activities									(5,067)		(1,419)		(2,781)
Financing activities:
Net borrowings (repayments)									(262)		(430)		1,568
Net intercompany borrowings (repayments)									0		0		0
Proceeds from stock issuance, net									40		60		1,278
Sale of noncontrolling interests									0		229		638
Acquisition of noncontrolling interests									0		(110)		(287)
Dividends paid to noncontrolling interests									(117)		(462)		(394)
Dividends paid to common stockholders									(494)		(246)		(196)
Other									(21)		44		(35)
Net cash provided from (used in) financing activities of continuing operations									(854)		(915)		2,572
Net cash used in financing activities of discontinued operations									0		0		(2)
Net cash provided from (used in) financing activities									(854)		(915)		2,570
Effect of exchange rate changes on cash									41		8		44
Net change in cash and cash equivalents									(2,296)		841		2,780
Cash and cash equivalents at beginning of period				4,056				3,215	4,056		3,215		435
Cash and cash equivalents at end of period	1,760				4,056				1,760		4,056		3,215
Assets
Cash and cash equivalents	1,760				4,056				1,760		4,056		3,215
Trade receivables	300				582				300		582
Accounts receivable	320				88				320		88
Investments	94				113				94		113
Inventories	714				658				714		658
Stockpiles and ore on leach pads	671				617				671		617
Deferred income tax assets	396				177				396		177
Other current assets	1,133				962				1,133		962
Current assets	5,388				7,253				5,388		7,253
Property, plant and mine development, net	15,881				12,907				15,881		12,907
Investments	1,472				1,568				1,472		1,568
Investments in subsidiaries	0				0				0		0
Stockpiles and ore on leach pads	2,271				1,757				2,271		1,757
Deferred income tax assets	1,605				1,437				1,605		1,437
Other long-term assets	857				741				857		741
Total assets	27,474				25,663				27,474		25,663		22,299
Liabilities
Debt	689				259				689		259
Accounts payable	561				427				561		427
Income and mining taxes	250				355				250		355
Employee-related benefits	307				288				307		288
Other current liabilities	2,133				1,418				2,133		1,418
Current liabilities	3,940				2,747				3,940		2,747
Debt	3,624				4,182				3,624		4,182
Reclamation and remediation liabilities	1,169				984				1,169		984
Deferred income tax liabilities	2,147				1,488				2,147		1,488
Employee-related benefits	459				325				459		325
Other long-term liabilities	364				221				364		221
Total liabilities	11,703				9,947				11,703		9,947
Equity
Preferred stock	0				0				0		0
Common stock	784				778				784		778
Additional paid-in capital	8,408				8,279				8,408		8,279
Accumulated other comprehensive income	652				1,108				652		1,108
Retained earnings	3,052				3,180				3,052		3,180
Newmont stockholders' equity	12,896				13,345				12,896		13,345
Noncontrolling interests	2,875				2,371				2,875		2,371
Total equity	15,771				15,716				15,771		15,716		12,613		8,661
Total liabilities and equity	27,474				25,663				27,474		25,663
Condensed Consolidating Financial Statements (Textuals)
Percent ownership of Newmont USA by Newmont Mining Corporation	56.00%				63.00%				56.00%		63.00%		80.00%
Convertible Senior Notes Net Of Discount 2012 [Member]
Equity
Additional paid-in capital	46				46				46		46
Convertible Senior Notes Net Of Discount 2014 [Member]
Equity
Additional paid-in capital	97				97				97		97
Convertible Senior Notes Net Of Discount 2017 [Member]
Equity
Additional paid-in capital	123				123				123		123
Newmont Mining Corporation [Member]
Condensed Consolidating Statement of Income
Sales									0		0		0
Costs and expenses
Costs applicable to sales									0		0		0
Amortization									0		0		0
Reclamation and remediation									0		0		0
Exploration									0		0		0
Advanced projects, research and development									0		0		0
General and administrative									0		0		0
Write-down of property, plant and mine development									0		0		0
Other expense, net									0		0		9
Total costs and expenses									0		0		9
Other income (expense)
Other income, net									(179)		(4)		(11)
Interest income-intercompany									152		161		90
Interest expense-intercompany									(19)		(11)		(9)
Interest expense, net									(219)		(246)		(65)
Total other income (expense)									(265)		(100)		5
Income before income and mining tax and other items									(265)		(100)		(4)
Income and mining tax expense									199		479		1
Equity income (loss) of affiliates									432		1,926		1,316
Income from continuing operations									366		2,305		1,313
Income from discontinued operations									0		(28)		(16)
Net income									366		2,277		1,297
Net income attributable to noncontrolling interests									0		0		0
Net income attributable to Newmont stockholders									366		2,277		1,297
Operating activities:
Net income									366		2,277		1,297
Adjustments									131		(600)		75
Net change in operating assets and liabilities									(102)		(57)		135
Net cash provided from (used in) continuing operations									395		1,620		1,507
Net cash used in discontinued operations									0		0		0
Net cash provided from (used in) operations									395		1,620		1,507
Investing activities:
Additions to property, plant and mine development									0		0		0
Acquisitions, net									0		0		(8)
Proceeds from sale of marketable securities									0		0		0
Purchases of marketable securities									0		0		0
Proceeds from sale of other assets									0		0		0
Other									0		0		0
Net cash used in investing activities									0		0		(8)
Financing activities:
Net borrowings (repayments)									26		0		1,722
Net intercompany borrowings (repayments)									33		(1,442)		(4,298)
Proceeds from stock issuance, net									40		60		1,278
Sale of noncontrolling interests									0		0		0
Acquisition of noncontrolling interests									0		0		0
Dividends paid to noncontrolling interests									0		0		0
Dividends paid to common stockholders									(494)		(246)		(196)
Other									0		0		2
Net cash provided from (used in) financing activities of continuing operations											0		(1,492)
Net cash used in financing activities of discontinued operations											0		0
Net cash provided from (used in) financing activities									(395)		(1,628)		(1,492)
Effect of exchange rate changes on cash									0		0		1
Net change in cash and cash equivalents									0		(8)		8
Cash and cash equivalents at beginning of period				0				8	0		8		0
Cash and cash equivalents at end of period	0				0				0		0		8
Assets
Cash and cash equivalents	0				0				0		0		8
Trade receivables	0				0				0		0
Accounts receivable	1,415				2,222				1,415		2,222
Investments	72				0				72		0
Inventories	0				0				0		0
Stockpiles and ore on leach pads	0				0				0		0
Deferred income tax assets	134				0				134		0
Other current assets	0				0				0		0
Current assets	1,621				2,222				1,621		2,222
Property, plant and mine development, net	0				0				0		0
Investments	0				0				0		0
Investments in subsidiaries	14,675				12,295				14,675		12,295
Stockpiles and ore on leach pads	0				0				0		0
Deferred income tax assets	708				638				708		638
Other long-term assets	3,423				2,675				3,423		2,675
Total assets	20,427				17,830				20,427		17,830
Liabilities
Debt	514				0				514		0
Accounts payable	2,698				355				2,698		355
Income and mining taxes	0				19				0		19
Employee-related benefits	0				0				0		0
Other current liabilities	450				56				450		56
Current liabilities	3,662				430				3,662		430
Debt	3,578				3,991				3,578		3,991
Reclamation and remediation liabilities	0				0				0		0
Deferred income tax liabilities	0				0				0		0
Employee-related benefits	5				5				5		5
Other long-term liabilities	567				375				567		375
Total liabilities	7,812				4,801				7,812		4,801
Equity
Preferred stock	0				0				0		0
Common stock	784				778				784		778
Additional paid-in capital	8,127				7,963				8,127		7,963
Accumulated other comprehensive income	652				1,108				652		1,108
Retained earnings	3,052				3,180				3,052		3,180
Newmont stockholders' equity	12,615				13,029				12,615		13,029
Noncontrolling interests	0				0				0		0
Total equity	12,615				13,029				12,615		13,029
Total liabilities and equity	20,427				17,830				20,427		17,830
Newmont USA [Member]
Condensed Consolidating Statement of Income
Sales									6,610		6,568		5,911
Costs and expenses
Costs applicable to sales									2,358		2,171		2,128
Amortization									651		601		565
Reclamation and remediation									69		48		41
Exploration									180		131		101
Advanced projects, research and development									183		110		66
General and administrative									156		144		129
Write-down of property, plant and mine development									4		5		6
Other expense, net									166		183		160
Total costs and expenses									3,767		3,393		3,196
Other income (expense)
Other income, net									115		29		27
Interest income-intercompany									7		7		7
Interest expense-intercompany									0		0		0
Interest expense, net									(16)		(27)		(47)
Total other income (expense)									106		9		(13)
Income before income and mining tax and other items									2,949		3,184		2,702
Income and mining tax expense									(1,033)		(1,114)		(781)
Equity income (loss) of affiliates									(19)		2		5
Income from continuing operations									1,897		2,072		1,926
Income from discontinued operations									7		2		(16)
Net income									1,904		2,074		1,910
Net income attributable to noncontrolling interests									(697)		(1,026)		(795)
Net income attributable to Newmont stockholders									1,207		1,048		1,115
Operating activities:
Net income									1,904		2,074		1,910
Adjustments									624		865		683
Net change in operating assets and liabilities									(18)		(512)		(400)
Net cash provided from (used in) continuing operations									2,510		2,427		2,193
Net cash used in discontinued operations									0		(13)		33
Net cash provided from (used in) operations									2,510		2,414		2,226
Investing activities:
Additions to property, plant and mine development									(1,853)		(721)		(470)
Acquisitions, net									0		0		(11)
Proceeds from sale of marketable securities									65		0		0
Purchases of marketable securities									(3)		(5)		0
Proceeds from sale of other assets									(55)		16		15
Other									0		0		0
Net cash used in investing activities									(1,846)		(710)		(466)
Financing activities:
Net borrowings (repayments)									(278)		(420)		(154)
Net intercompany borrowings (repayments)									(2,559)		(152)		953
Proceeds from stock issuance, net									0		0		0
Sale of noncontrolling interests									0		229		638
Acquisition of noncontrolling interests									0		0		0
Dividends paid to noncontrolling interests									(151)		(598)		(391)
Dividends paid to common stockholders									0		0		0
Other									(24)		46		(48)
Net cash provided from (used in) financing activities of continuing operations											0		998
Net cash used in financing activities of discontinued operations											0		(2)
Net cash provided from (used in) financing activities									(3,012)		(895)		996
Effect of exchange rate changes on cash									(3)		1		1
Net change in cash and cash equivalents									(2,351)		810		2,757
Cash and cash equivalents at beginning of period				3,877				3,067	3,877		3,067		310
Cash and cash equivalents at end of period	1,526				3,877				1,526		3,877		3,067
Assets
Cash and cash equivalents	1,526				3,877				1,526		3,877		3,067
Trade receivables	205				501				205		501
Accounts receivable	3,447				802				3,447		802
Investments	0				72				0		72
Inventories	333				388				333		388
Stockpiles and ore on leach pads	532				513				532		513
Deferred income tax assets	257				170				257		170
Other current assets	91				77				91		77
Current assets	6,391				6,400				6,391		6,400
Property, plant and mine development, net	6,917				5,364				6,917		5,364
Investments	29				25				29		25
Investments in subsidiaries	43				35				43		35
Stockpiles and ore on leach pads	1,641				1,347				1,641		1,347
Deferred income tax assets	838				690				838		690
Other long-term assets	641				496				641		496
Total assets	16,500				14,357				16,500		14,357
Liabilities
Debt	165				249				165		249
Accounts payable	1,327				1,269				1,327		1,269
Income and mining taxes	45				261				45		261
Employee-related benefits	222				222				222		222
Other current liabilities	459				373				459		373
Current liabilities	2,218				2,374				2,218		2,374
Debt	1				135				1		135
Reclamation and remediation liabilities	809				676				809		676
Deferred income tax liabilities	732				513				732		513
Employee-related benefits	355				244				355		244
Other long-term liabilities	61				56				61		56
Total liabilities	4,176				3,998				4,176		3,998
Equity
Preferred stock	0				0				0		0
Common stock	0				0				0		0
Additional paid-in capital	3,050				2,722				3,050		2,722
Accumulated other comprehensive income	(189)				(75)				(189)		(75)
Retained earnings	6,055				4,850				6,055		4,850
Newmont stockholders' equity	8,916				7,497				8,916		7,497
Noncontrolling interests	3,408				2,862				3,408		2,862
Total equity	12,324				10,359				12,324		10,359
Total liabilities and equity	16,500				14,357				16,500		14,357
Condensed Consolidating Financial Statements (Textuals)
Percent ownership of Newmont USA by Newmont Mining Corporation	100.00%								100.00%
Other Subsidiaries [Member]
Condensed Consolidating Statement of Income
Sales									3,748		2,972		1,794
Costs and expenses
Costs applicable to sales									1,570		1,341		903
Amortization									386		345		242
Reclamation and remediation									51		17		18
Exploration									170		87		86
Advanced projects, research and development									191		107		71
General and administrative									2		4		4
Write-down of property, plant and mine development									2,080		1		1
Other expense, net									99		78		189
Total costs and expenses									4,549		1,980		1,514
Other income (expense)
Other income, net									76		84		72
Interest income-intercompany									16		5		5
Interest expense-intercompany									(156)		(162)		(93)
Interest expense, net									(9)		(6)		(8)
Total other income (expense)									(73)		(79)		(24)
Income before income and mining tax and other items									(874)		913		256
Income and mining tax expense									121		(221)		(49)
Equity income (loss) of affiliates									283		281		185
Income from continuing operations									(470)		973		392
Income from discontinued operations									(143)		(30)		0
Net income									(613)		943		392
Net income attributable to noncontrolling interests									(21)		34		(77)
Net income attributable to Newmont stockholders									(634)		977		315
Operating activities:
Net income									(613)		943		392
Adjustments									1,490		(1,625)		(1,216)
Net change in operating assets and liabilities									(191)		(185)		38
Net cash provided from (used in) continuing operations									686		(867)		(786)
Net cash used in discontinued operations									(7)		0		0
Net cash provided from (used in) operations									679		(867)		(786)
Investing activities:
Additions to property, plant and mine development									(934)		(681)		(1,299)
Acquisitions, net									(2,309)		(4)		(988)
Proceeds from sale of marketable securities									16		3		17
Purchases of marketable securities									(18)		(23)		(5)
Proceeds from sale of other assets									64		40		3
Other									(40)		(44)		(35)
Net cash used in investing activities									(3,221)		(709)		(2,307)
Financing activities:
Net borrowings (repayments)									(10)		(10)		0
Net intercompany borrowings (repayments)									2,560		1,730		3,345
Proceeds from stock issuance, net									0		0		0
Sale of noncontrolling interests									0		0		0
Acquisition of noncontrolling interests									0		(110)		287
Dividends paid to noncontrolling interests									0		0		(3)
Dividends paid to common stockholders									0		0		0
Other									3		(2)		11
Net cash provided from (used in) financing activities of continuing operations											0		3,066
Net cash used in financing activities of discontinued operations											0		0
Net cash provided from (used in) financing activities									2,553		1,608		3,066
Effect of exchange rate changes on cash									44		7		42
Net change in cash and cash equivalents									55		39		15
Cash and cash equivalents at beginning of period				179				140	179		140		125
Cash and cash equivalents at end of period	234				179				234		179		140
Assets
Cash and cash equivalents	234				179				234		179		140
Trade receivables	95				81				95		81
Accounts receivable	264				265				264		265
Investments	22				41				22		41
Inventories	381				270				381		270
Stockpiles and ore on leach pads	139				104				139		104
Deferred income tax assets	5				7				5		7
Other current assets	1,042				885				1,042		885
Current assets	2,182				1,832				2,182		1,832
Property, plant and mine development, net	8,990				7,562				8,990		7,562
Investments	1,443				1,543				1,443		1,543
Investments in subsidiaries	2,825				1,909				2,825		1,909
Stockpiles and ore on leach pads	630				410				630		410
Deferred income tax assets	59				109				59		109
Other long-term assets	927				584				927		584
Total assets	17,056				13,949				17,056		13,949
Liabilities
Debt	10				10				10		10
Accounts payable	1,343				1,996				1,343		1,996
Income and mining taxes	205				75				205		75
Employee-related benefits	85				66				85		66
Other current liabilities	3,186				2,959				3,186		2,959
Current liabilities	4,829				5,106				4,829		5,106
Debt	45				56				45		56
Reclamation and remediation liabilities	360				308				360		308
Deferred income tax liabilities	1,415				975				1,415		975
Employee-related benefits	99				76				99		76
Other long-term liabilities	3,895				2,824				3,895		2,824
Total liabilities	10,643				9,345				10,643		9,345
Equity
Preferred stock	61				61				61		61
Common stock	0				0				0		0
Additional paid-in capital	5,702				3,894				5,702		3,894
Accumulated other comprehensive income	1,168				1,180				1,168		1,180
Retained earnings	(1,744)				(1,109)				(1,744)		(1,109)
Newmont stockholders' equity	5,187				4,026				5,187		4,026
Noncontrolling interests	1,226				578				1,226		578
Total equity	6,413				4,604				6,413		4,604
Total liabilities and equity	17,056				13,949				17,056		13,949
Eliminations [Member]
Condensed Consolidating Statement of Income
Sales									0		0		0
Costs and expenses
Costs applicable to sales									(38)		(28)		(23)
Amortization									(1)		(1)		(1)
Reclamation and remediation									0		0		0
Exploration									0		0		0
Advanced projects, research and development									(1)		(1)		(2)
General and administrative									40		30		26
Write-down of property, plant and mine development									0		0		0
Other expense, net									0		0		0
Total costs and expenses									0		0		0
Other income (expense)
Other income, net									0		0		0
Interest income-intercompany									(175)		(173)		(102)
Interest expense-intercompany									175		173		102
Interest expense, net									0		0		0
Total other income (expense)									0		0		0
Income before income and mining tax and other items									0		0		0
Income and mining tax expense									0		0		0
Equity income (loss) of affiliates									(685)		(2,206)		(1,522)
Income from continuing operations									(685)		(2,206)		(1,522)
Income from discontinued operations									0		28		16
Net income									(685)		(2,178)		(1,506)
Net income attributable to noncontrolling interests									112		153		76
Net income attributable to Newmont stockholders									(573)		(2,025)		(1,430)
Operating activities:
Net income									(685)		(2,178)		(1,506)
Adjustments									685		2,178		1,506
Net change in operating assets and liabilities									0		0		0
Net cash provided from (used in) continuing operations									0		0		0
Net cash used in discontinued operations									0		0		0
Net cash provided from (used in) operations									0		0		0
Investing activities:
Additions to property, plant and mine development									0		0		0
Acquisitions, net									0		0		0
Proceeds from sale of marketable securities									0		0		0
Purchases of marketable securities									0		0		0
Proceeds from sale of other assets									0		0		0
Other									0		0		0
Net cash used in investing activities									0		0		0
Financing activities:
Net borrowings (repayments)									0		0		0
Net intercompany borrowings (repayments)									(34)		(136)		0
Proceeds from stock issuance, net									0		0		0
Sale of noncontrolling interests									0		0		0
Acquisition of noncontrolling interests									0		0		0
Dividends paid to noncontrolling interests									34		136		0
Dividends paid to common stockholders									0		0		0
Other									0		0		0
Net cash provided from (used in) financing activities of continuing operations											0		0
Net cash used in financing activities of discontinued operations											0		0
Net cash provided from (used in) financing activities									0		0		0
Effect of exchange rate changes on cash									0		0		0
Net change in cash and cash equivalents									0		0		0
Cash and cash equivalents at beginning of period				0				0	0		0		0
Cash and cash equivalents at end of period	0				0				0		0		0
Assets
Cash and cash equivalents	0				0				0		0		0
Trade receivables	0				0				0		0
Accounts receivable	(4,806)				(3,201)				(4,806)		(3,201)
Investments	0				0				0		0
Inventories	0				0				0		0
Stockpiles and ore on leach pads	0				0				0		0
Deferred income tax assets	0				0				0		0
Other current assets	0				0				0		0
Current assets	(4,806)				(3,201)				(4,806)		(3,201)
Property, plant and mine development, net	(26)				(19)				(26)		(19)
Investments	0				0				0		0
Investments in subsidiaries	(17,543)				(14,239)				(17,543)		(14,239)
Stockpiles and ore on leach pads	0				0				0		0
Deferred income tax assets	0				0				0		0
Other long-term assets	(4,134)				(3,014)				(4,134)		(3,014)
Total assets	(26,509)				(20,473)				(26,509)		(20,473)
Liabilities
Debt	0				0				0		0
Accounts payable	(4,807)				(3,193)				(4,807)		(3,193)
Income and mining taxes	0				0				0		0
Employee-related benefits	0				0				0		0
Other current liabilities	(1,962)				(1,970)				(1,962)		(1,970)
Current liabilities	(6,769)				(5,163)				(6,769)		(5,163)
Debt	0				0				0		0
Reclamation and remediation liabilities	0				0				0		0
Deferred income tax liabilities	0				0				0		0
Employee-related benefits	0				0				0		0
Other long-term liabilities	(4,159)				(3,034)				(4,159)		(3,034)
Total liabilities	(10,928)				(8,197)				(10,928)		(8,197)
Equity
Preferred stock	(61)				(61)				(61)		(61)
Common stock	0				0				0		0
Additional paid-in capital	(8,471)				(6,300)				(8,471)		(6,300)
Accumulated other comprehensive income	(979)				(1,105)				(979)		(1,105)
Retained earnings	(4,311)				(3,741)				(4,311)		(3,741)
Newmont stockholders' equity	(13,822)				(11,207)				(13,822)		(11,207)
Noncontrolling interests	(1,759)				(1,069)				(1,759)		(1,069)
Total equity	(15,581)				(12,276)				(15,581)		(12,276)
Total liabilities and equity	$ (26,509)				$ (20,473)				$ (26,509)		$ (20,473)

[1] (1) Excludes Amortization and Reclamation and remediation.

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Statements of Consolidated Changes in Equity (USD $) In Millions, unless otherwise specified	Total	Common Stock [Member]	Additional paid-in capital [Member]	Accumulated other comprehensive (loss) income [Member]	Retained earnings [Member]	Noncontrolling interests [Member]
Beginning balance at Dec. 31, 2008	$ 8,661	$ 709	$ 6,831	$ (253)	$ 4	$ 1,370
Beginning balance, shares at Dec. 31, 2008		455
Statement Of Stockholders Equity [Abstract]
Net income	2,093				1,297	796
Other comprehensive (loss) income	882			879		3
Dividends paid	(590)		(44)		(152)	(394)
Common stock offering	1,234	55	1,179
Common stock offering, shares		34
Convertible debt issuance	46		46
Sale of subsidiary shares to noncontrolling interests	530		63			467
Acquisition of subsidiary shares from noncontrolling interests	(332)					(332)
Stock based awards and related share issuances	89	3	86
Stock based awards and related share issuances, shares		2
Shares issued in exchange for exchangeable shares	0	3	(3)
Ending balance at Dec. 31, 2009	12,613	770	8,158	626	1,149	1,910
Ending balance, shares at Dec. 31, 2009		491
Statement Of Stockholders Equity [Abstract]
Net income	3,116				2,277	839
Other comprehensive (loss) income	484			482		2
Dividends paid	(722)				(246)	(476)
Sale of subsidiary shares to noncontrolling interests	199		16			183
Acquisition of subsidiary shares from noncontrolling interests	(87)					(87)
Stock based awards and related share issuances	113	4	109
Stock based awards and related share issuances, shares		2
Shares issued in exchange for exchangeable shares	0	4	(4)
Ending balance at Dec. 31, 2010	15,716	778	8,279	1,108	3,180	2,371
Ending balance, shares at Dec. 31, 2010		493
Statement Of Stockholders Equity [Abstract]
Net income	972				366	606
Other comprehensive (loss) income	(456)			(456)		0
Dividends paid	(596)				(494)	(102)
Stock based awards and related share issuances	135	3	132
Stock based awards and related share issuances, shares		2
Shares issued in exchange for exchangeable shares	0	3	(3)
Ending balance at Dec. 31, 2011	$ 15,771	$ 784	$ 8,408	$ 652	$ 3,052	$ 2,875
Ending balance, shares at Dec. 31, 2011		495

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Supplemental Cash Flow Information (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Supplemental Cash Flow Information Activities [Abstract]
Income and mining taxes, net of refunds	$ 1,526	$ 1,185	$ 431
Pension plan and other benefit contributions	29	163	58
Interest, net of amounts capitalized	216	228	117
Supplemental Cash Flow Information (Textuals) [Abstract]
Non-cash increase to Investments	$ 12

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Property, Plant and Mine Development (Tables)

12 Months Ended

Dec. 31, 2011

Property Plant and Mine Development (Tables) [Abstract]

Property, Plant and Mine Development

NOTE ##PPMDNote    PROPERTY, PLANT AND MINE DEVELOPMENT
			At December 31, 2011						At December 31, 2010
	Depreciable				Accumulated		Net Book				Accumulated		Net Book
	Life		Cost		Amortization		Value		Cost		Amortization		Value
	(in years)
Land	—		$	263	$	-	$	263	$	118	$	-	$	118
Facilities and equipment	1-	27		13,056		(5,926)		7,130		12,424		(5,460)		6,964
Mine development	1-	27		3,903		(1,758)		2,145		3,217		(1,445)		1,772
Mineral interests	1-	27		4,868		(713)		4,155		3,456		(660)		2,796
Asset retirement cost	1-	27		758		(305)		453		638		(238)		400
Construction-in-progress	—			1,735		-		1,735		857		-		857
			$	24,583	$	(8,702)	$	15,881	$	20,710	$	(7,803)	$	12,907
Leased assets included above in facilities and equipment	2-	25	$	374	$	(250)	$	124	$	421	$	(289)	$	132
			At December 31, 2011						At December 31, 2010
Mineral Interests			Gross						Gross
	Amortization		Carrying		Accumulated		Net Book		Carrying		Accumulated		Net Book
	Period		Value		Amortization		Value		Value		Amortization		Value
	(in years)
Production stage	1-	27	$	1,256	$	(713)	$	543	$	1,235	$	(660)	$	575
Development stage	—			149		-		149		149		-		149
Exploration stage	—			3,463		-		3,463		2,072		-		2,072
			$	4,868	$	(713)	$	4,155	$	3,456	$	(660)	$	2,796

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Subsequent Events (Details) (Repayment of Debt [Member], USD $) In Millions, unless otherwise specified	0 Months Ended
	Feb. 15, 2012
Repayment of Debt [Member]
Subsequent Events (Textuals)
Subsequent Event Amount	$ 640

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Operating Lease Commitments

12 Months Ended

Dec. 31, 2011

Leases Operating [Abstract]

OPERATING LEASE COMMITMENTS

NOTE 29    OPERATING LEASE COMMITMENTS

The Company leases certain assets, such as equipment and facilities, under operating leases expiring at various dates through 2020. Future minimum annual lease payments are $23 in 2012, $20 in 2013, $10 in 2014, $10 in 2015, $10 in 2016 and $27 thereafter, totaling $100. Rent expense for 2011, 2010 and 2009 was $68, $46 and $48, respectively.

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Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2011

Supplemental Cash Flow Information (Tables) [Abstract]

Supplemental Cash Flow Information

NOTE ##SuppCFNote    SUPPLEMENTAL CASH FLOW INFORMATION
	Years Ended December 31,
	2011		2010		2009
Income and mining taxes, net of refunds	$	1,526	$	1,185	$	431
Pension plan and other benefit contributions	$	29	$	163	$	58
Interest, net of amounts capitalized	$	216	$	228	$	117

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Fair Value Accounting

12 Months Ended

Dec. 31, 2011

Fair Value Accounting [Abstract]

FAIR VALUE ACCOUNTING

NOTE 16FAIR VALUE ACCOUNTING

Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

Level 1       Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2       Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and

Level 3       Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

The following table sets forth the Company's assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

			Fair Value at December 31, 2011
			Total		Level 1		Level 2		Level 3
Assets:
	Cash equivalents		$	84	$	84	$	-	$	-
	Marketable equity securities:
		Extractive industries		1,450		1,450		-		-
		Other		4		4		-		-
	Marketable debt securities:
		Asset backed commercial paper		19		-		-		19
		Corporate		11		11		-		-
		Auction rate securities		5		-		-		5
	Trade receivable from provisional copper			194		194		-		-
		and gold concentrate sales, net
	Derivative instruments, net:
		Foreign exchange forward contracts		223		-		223		-
		Diesel forward contracts		1		-		1		-
			$	1,991	$	1,743	$	224	$	24
Liabilities:
	Derivative instruments:
		Forward Starting Swaps Contracts	$	399	$	-	$	399	$	-
	Boddington contingent consideration			54		-		-		54
	Holt Property Royalty			176						176
			$	629	$	-	$	399	$	230

The Company's cash equivalent instruments are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash equivalent instruments that are valued based on quoted market prices in active markets are primarily money market securities and U.S. Treasury securities.

The Company's marketable equity securities are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The securities are segregated based on industry. The fair value of the marketable equity securities is calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company.

The Company's marketable debt securities include investments in auction rate securities and asset backed commercial paper. The Company reviews the fair value for auction rate securities and asset backed commercial paper on at least a quarterly basis. The auction rate securities are traded in markets that are not active, trade infrequently and have little price transparency. The Company estimated the fair value of the auction rate securities based on weighted average risk calculations using probabilistic cash flow assumptions. The Company estimated the fair value of the asset backed commercial paper using a probability of return to each class of notes reflective of information reviewed regarding the separate classes of securities. The auction rate securities and asset backed commercial paper are classified within Level 3 of the fair value hierarchy. The Company's corporate marketable debt securities are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy.

The Company's net trade receivable from provisional copper and gold concentrate sales,subject to final pricing, is valued using quoted market prices based on forward curves and, as such, is classified within Level 1 of the fair value hierarchy.

The Company's derivative instruments are valued using pricing models and the Company generally uses similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit spreads, measures of volatility, and correlations of such inputs. The Company's derivatives trade in liquid markets, and as such, model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.

The estimated fair value of the Boddington contingentroyalty was determined using a Monte Carlo valuation model which simulates future gold and copper prices and costs applicable to sales to estimate fair value. At December 31, 2011, the Company used the following long-term assumptions: 1) $1,500 per ounce gold price, 2) $3.50 per pound copper price, 3) $90 per barrel of oil, and 4) a $1.00 A$/US$ exchange rate. The Company used a 4% discount rate in the model. The contingent royalty liability is classified within Level 3 of the fair value hierarchy.

The estimated fair value of the Holt sliding scale royalty was determined using a Monte Carlo valuation model to simulate future gold prices utilizing a $1,500 per ounce gold price long-term assumption, various gold production scenarios based on publicly available reserve and resource information for the Holt property and a 4% weighted average discount rate. The sliding scale royalty liability is classified within Level 3 of the fair value hierarchy.

The table below sets forth a summary of changes in the fair value, on a recurring basis, of the Company's Level 3 financial assets and liabilities for the year ended December 31, 2011:

		Auction Rate Securities		Asset Backed Commercial Paper		Total Assets		Boddington Contingent Consideration		Holt Property Royalty		Total Liabilities
December 31, 2010		$	5	$	19	$	24	$	83	$	-	$	83
	Initial Valuation		-		-		-		-		183		183
	Revaluation		-		-		-		1		-		1
	Settlements		-		-		-		(30)		(7)		(37)
December 31, 2011		$	5	$	19	$	24	$	54	$	176	$	230

AtDecember 31, 2011, the assets and liabilities classified within Level 3 of the fair value hierarchy represent 1%and 37%of the total assets and liabilities measured at fair value, on a recurring basis.

The following table provides information related to assets and liabilities that are measured at fair value on a nonrecurring basis in periods after initial recognition. At December 31, 2011, Newmont recorded an impairment of $2,097 related to its Hope Bay project. The Hope Bay assets were impaired based on a decision to place the project on care and maintenance. This write-down was recorded using Level 3 inputs, based on the income approach; whereby, Newmont considered the estimated recoverable value, net of transportation and selling costs, of the related assets at Hope Bay.

				Fair Value Measurement Using
Description		At December 31, 2011		Level 1		Level 2		Level 3		Total loss
Inventories:
	Materials, supplies and other	$	17	$	0	$	0	$	17	$	(17)
Property, plant and mine development:
	Facilities and equipment		0		0		0		0		(107)
	Construction-in-progress		7		0		0		7		(207)
	Mineral interests		0		0		0		0	(1,766)
			7		0		0		7	(2,080)
		$	24	$	0	$	0	$	24	$	(2,097)

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Condensed Consolidating Financial Statements

12 Months Ended

Dec. 31, 2011

Dec. 31, 2009

Condensed Consolidating Financial Statements [Abstract]

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

NOTE 30    CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

The following Consolidating Financial Statements are presented to satisfy disclosure requirements of Rule 3-10(e) of Regulation S-X resulting from the inclusion of Newmont USA Limited (“Newmont USA”), a wholly-owned subsidiary of Newmont, as a co-registrant with Newmont on a shelf registration statement on Form S-3 filed under the Securities Act of 1933 under which securities of Newmont (including debt securities which may be guaranteed by Newmont USA) may be issued from time to time (the “Shelf Registration Statement”). To the extent Newmont issues debt securities under the Shelf Registration Statement, it is expected that Newmont USA will provide a guarantee of that debt. In accordance with Rule 3-10(e) of Regulation S-X, Newmont USA, as the subsidiary guarantor, is 100% owned by Newmont, the guarantee will be full and unconditional, and it is not expected that any other subsidiary of Newmont will guarantee any security issued under the Shelf Registration Statement. There are no significant restrictions on the ability of Newmont USA to obtain funds from its subsidiaries by dividend or loan.

			For the Year Ended December 31, 2011
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Income			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales			$	-	$	6,610	$	3,748	$	-	$	10,358
Costs and expenses
	Costs applicable to sales (1)			-		2,358		1,570		(38)		3,890
	Amortization			-		651		386		(1)		1,036
	Reclamation and remediation			-		69		51		-		120
	Exploration			-		180		170		-		350
	Advanced projects, research and development			-		183		191		(1)		373
	General and administrative			-		156		2		40		198
	Write-down of property, plant and mine
		development		-		4		2,080		-		2,084
	Other expense, net			-		166		99		-		265
				-		3,767		4,549		-		8,316
Other income (expense)
	Other income, net			(179)		115		76		-		12
	Interest income - intercompany			152		7		16		(175)		-
	Interest expense - intercompany			(19)		-		(156)		175		-
	Interest expense, net			(219)		(16)		(9)		-		(244)
				(265)		106		(73)		-		(232)
Income before income and mining tax and other items				(265)		2,949		(874)		-		1,810
Income and mining tax expense				199		(1,033)		121		-		(713)
Equity income (loss) of affiliates				432		(19)		283		(685)		11
Income from continuing operations				366		1,897		(470)		(685)		1,108
Loss from discontinued operations				-		7		(143)		-		(136)
Net income				366		1,904		(613)		(685)		972
Net income attributable to noncontrolling interests				-		(697)		(21)		112		(606)
Net income attributable to Newmont stockholders			$	366	$	1,207	$	(634)	$	(573)	$	366

(1) Excludes Amortization and Reclamation and remediation.

			For the Year Ended December 31, 2010
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Income			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales			$	-	$	6,568	$	2,972	$	-	$	9,540
Costs and expenses
	Costs applicable to sales (1)			-		2,171		1,341		(28)		3,484
	Amortization			-		601		345		(1)		945
	Reclamation and remediation			-		48		17		-		65
	Exploration			-		131		87		-		218
	Advanced projects, research and development			-		110		107		(1)		216
	General and administrative			-		144		4		30		178
	Write-down of property, plant and mine
		development		-		5		1		-		6
	Other expense, net			-		183		78		-		261
				-		3,393		1,980		-		5,373
Other income (expense)
	Other income, net			(4)		29		84		-		109
	Interest income - intercompany			161		7		5		(173)		-
	Interest expense - intercompany			(11)		-		(162)		173		-
	Interest expense, net			(246)		(27)		(6)		-		(279)
				(100)		9		(79)		-		(170)
Income before income and mining tax and other items				(100)		3,184		913		-		3,997
Income and mining tax expense				479		(1,114)		(221)		-		(856)
Equity income (loss) of affiliates				1,926		2		281		(2,206)		3
Income from continuing operations				2,305		2,072		973		(2,206)		3,144
Loss from discontinued operations				(28)		2		(30)		28		(28)
Net income				2,277		2,074		943		(2,178)		3,116
Net income attributable to noncontrolling interests				-		(1,026)		34		153		(839)
Net income attributable to Newmont stockholders			$	2,277	$	1,048	$	977	$	(2,025)	$	2,277

(1) Excludes Amortization and Reclamation and remediation.

			For the Year Ended December 31, 2009
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Income			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales			$	-	$	5,911	$	1,794	$	-	$	7,705
Costs and expenses
	Costs applicable to sales (1)			-		2,128		903		(23)		3,008
	Amortization			-		565		242		(1)		806
	Reclamation and remediation			-		41		18		-		59
	Exploration			-		101		86		-		187
	Advanced projects, research and development			-		66		71		(2)		135
	General and administrative			-		129		4		26		159
	Write-down of property, plant and mine
		development		-		6		1		-		7
	Other expense, net			9		160		189		-		358
				9		3,196		1,514		-		4,719
Other income (expense)
	Other income, net			(11)		27		72		-		88
	Interest income - intercompany			90		7		5		(102)		-
	Interest expense - intercompany			(9)		-		(93)		102		-
	Interest expense, net			(65)		(47)		(8)		-		(120)
				5		(13)		(24)		-		(32)
Income before income and mining tax and other items				(4)		2,702		256		-		2,954
Income and mining tax expense				1		(781)		(49)		-		(829)
Equity income (loss) of affiliates				1,316		5		185		(1,522)		(16)
Income from continuing operations				1,313		1,926		392		(1,522)		2,109
Loss from discontinued operations				(16)		(16)		-		16		(16)
Net income				1,297		1,910		392		(1,506)		2,093
Net income attributable to noncontrolling interests				-		(795)		(77)		76		(796)
Net income attributable to Newmont stockholders			$	1,297	$	1,115	$	315	$	(1,430)	$	1,297

(1) Excludes Amortization and Reclamation and remediation.

		For the Year Ended December 31, 2011
										Newmont
		Newmont								Mining
		Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows		Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
	Net income	$	366	$	1,904	$	(613)	$	(685)	$	972
	Adjustments		131		624		1,490		685		2,930
	Net change in operating assets and liabilities		(102)		(18)		(191)		-		(311)
Net cash provided from (used in) continuing operations			395		2,510		686		-		3,591
Net cash used in discontinued operations			-		-		(7)		-		(7)
Net cash provided from (used in) operations			395		2,510		679		-		3,584
Investing activities:
	Additions to property, plant and mine development		-		(1,853)		(934)		-		(2,787)
	Acquisitions, net		-		-		(2,309)		-		(2,309)
	Proceeds from sale of marketable securities		-		65		16		-		81
	Purchases of marketable securities		-		(3)		(18)		-		(21)
	Proceeds from sale of other assets		-		(55)		64		-		9
	Other		-		-		(40)		-		(40)
Net cash used in investing activities			-		(1,846)		(3,221)		-		(5,067)
Financing activities:
	Net borrowings (repayments)		26		(278)		(10)		-		(262)
	Net intercompany borrowings (repayments)		33		(2,559)		2,560		(34)		-
	Proceeds from stock issuance, net		40		-		-		-		40
	Dividends paid to noncontrolling interests		-		(151)		-		34		(117)
	Dividends paid to common stockholders		(494)		-		-		-		(494)
	Other		-		(24)		3		-		(21)
Net cash provided from (used in) financing activities			(395)		(3,012)		2,553		-		(854)
Effect of exchange rate changes on cash			-		(3)		44		-		41
Net change in cash and cash equivalents			-		(2,351)		55		-		(2,296)
Cash and cash equivalents at beginning of period			-		3,877		179		-		4,056
Cash and cash equivalents at end of period		$	-	$	1,526	$	234	$	-	$	1,760

		For the Year Ended December 31, 2010
										Newmont
		Newmont								Mining
		Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows		Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
	Net income (loss)	$	2,277	$	2,074	$	943	$	(2,178)	$	3,116
	Adjustments		(600)		865		(1,625)		2,178		818
	Net change in operating assets and liabilities		(57)		(512)		(185)		-		(754)
Net cash provided from (used in) continuing operations			1,620		2,427		(867)		-		3,180
Net cash used in discontinued operations			-		(13)		-		-		(13)
Net cash provided from (used in) operations			1,620		2,414		(867)		-		3,167
Investing activities:
	Additions to property, plant and mine development		-		(721)		(681)		-		(1,402)
	Acquisitions, net		-		-		(4)		-		(4)
	Proceeds from sale of marketable securities		-		-		3		-		3
	Purchases of marketable securities		-		(5)		(23)		-		(28)
	Proceeds from sale of other assets		-		16		40		-		56
	Other		-		-		(44)		-		(44)
Net cash used in investing activities			-		(710)		(709)		-		(1,419)
Financing activities:
	Net repayments		-		(420)		(10)		-		(430)
	Net intercompany borrowings (repayments)		(1,442)		(152)		1,730		(136)		-
	Proceeds from stock issuance, net		60		-		-		-		60
	Sale of noncontrolling interests		-		229		-		-		229
	Acquisition of noncontrolling interests		-		-		(110)		-		(110)
	Dividends paid to noncontrolling interests		-		(598)		-		136		(462)
	Dividends paid to common stockholders		(246)		-		-		-		(246)
	Other		-		46		(2)		-		44
Net cash provided from (used in) financing activities			(1,628)		(895)		1,608		-		(915)
Effect of exchange rate changes on cash			-		1		7		-		8
Net change in cash and cash equivalents			(8)		810		39		-		841
Cash and cash equivalents at beginning of period			8		3,067		140		-		3,215
Cash and cash equivalents at end of period		$	-	$	3,877	$	179	$	-	$	4,056

			For the Year Ended December 31, 2009
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
		Net income (loss)	$	1,297	$	1,910	$	392	$	(1,506)	$	2,093
		Adjustments		75		683		(1,216)		1,506		1,048
		Net change in operating assets and liabilities		135		(400)		38		-		(227)
Net cash provided from (used in) continuing operations				1,507		2,193		(786)		-		2,914
Net cash provided from discontinued operations				-		33		-		-		33
Net cash provided from (used in) operations				1,507		2,226		(786)		-		2,947
Investing activities:
		Additions to property, plant and mine development		-		(470)		(1,299)		-		(1,769)
		Acquisitions, net		(8)		(11)		(988)		-		(1,007)
		Proceeds from sale of marketable securities		-		-		17		-		17
		Purchases of marketable securities		-		-		(5)		-		(5)
		Proceeds from sale of other assets		-		15		3		-		18
		Other		-		-		(35)		-		(35)
Net cash used in investing activities				(8)		(466)		(2,307)		-		(2,781)
Financing activities:
		Net borrowings (repayments)		1,722		(154)		-		-		1,568
		Net intercompany borrowings (repayments)		(4,298)		953		3,345		-		-
		Proceeds from stock issuance, net		1,278		-		-		-		1,278
		Sale of noncontrolling interests		-		638		-		-		638
		Acquisition of noncontrolling interests		-		-		(287)		-		(287)
		Dividends paid to noncontrolling interests		-		(391)		(3)		-		(394)
		Dividends paid to common stockholders		(196)		-		-		-		(196)
		Other		2		(48)		11		-		(35)
Net cash provided from (used in) financing activities of
	continuing operations			(1,492)		998		3,066		-		2,572
Net cash used in financing activities of discontinued
	operations			-		(2)		-		-		(2)
Net cash provided from (used in) financing activities				(1,492)		996		3,066		-		2,570
Effect of exchange rate changes on cash				1		1		42		-		44
Net change in cash and cash equivalents				8		2,757		15		-		2,780
Cash and cash equivalents at beginning of period				-		310		125		-		435
Cash and cash equivalents at end of period			$	8	$	3,067	$	140	$	-	$	3,215

			At December 31, 2011
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets
	Cash and cash equivalents		$	-	$	1,526	$	234	$	-	$	1,760
	Trade receivables			-		205		95		-		300
	Accounts receivable			1,415		3,447		264		(4,806)		320
	Investments			72		-		22		-		94
	Inventories			-		333		381		-		714
	Stockpiles and ore on leach pads			-		532		139		-		671
	Deferred income tax assets			134		257		5		-		396
	Other current assets			-		91		1,042		-		1,133
		Current assets		1,621		6,391		2,182		(4,806)		5,388
	Property, plant and mine development, net			-		6,917		8,990		(26)		15,881
	Investments			-		29		1,443		-		1,472
	Investments in subsidiaries			14,675		43		2,825		(17,543)		-
	Stockpiles and ore on leach pads			-		1,641		630		-		2,271
	Deferred income tax assets			708		838		59		-		1,605
	Other long-term assets			3,423		641		927		(4,134)		857
		Total assets	$	20,427	$	16,500	$	17,056	$	(26,509)	$	27,474
Liabilities
	Debt		$	514	$	165	$	10	$	-	$	689
	Accounts payable			2,698		1,327		1,343		(4,807)		561
	Employee-related benefits			-		222		85		-		307
	Income and mining taxes			-		45		205		-		250
	Other current liabilities			450		459		3,186		(1,962)		2,133
		Current liabilities		3,662		2,218		4,829		(6,769)		3,940
	Debt			3,578		1		45		-		3,624
	Reclamation and remediation liabilities			-		809		360		-		1,169
	Deferred income tax liabilities			-		732		1,415		-		2,147
	Employee-related benefits			5		355		99		-		459
	Other long-term liabilities			567		61		3,895		(4,159)		364
		Total liabilities		7,812		4,176		10,643		(10,928)		11,703
Equity
	Preferred stock			-		-		61		(61)		-
	Common stock			784		-		-		-		784
	Additional paid-in capital			8,127		3,050		5,702		(8,471)		8,408
	Accumulated other comprehensive income			652		(189)		1,168		(979)		652
	Retained earnings			3,052		6,055		(1,744)		(4,311)		3,052
	Newmont stockholders’ equity			12,615		8,916		5,187		(13,822)		12,896
	Noncontrolling interests			-		3,408		1,226		(1,759)		2,875
		Total equity		12,615		12,324		6,413		(15,581)		15,771
		Total liabilities and equity	$	20,427	$	16,500	$	17,056	$	(26,509)	$	27,474

			At December 31, 2010
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets
	Cash and cash equivalents		$	-	$	3,877	$	179	$	-	$	4,056
	Trade receivables			-		501		81		-		582
	Accounts receivable			2,222		802		265		(3,201)		88
	Investments			-		72		41		-		113
	Inventories			-		388		270		-		658
	Stockpiles and ore on leach pads			-		513		104		-		617
	Deferred income tax assets			-		170		7		-		177
	Other current assets			-		77		885		-		962
		Current assets		2,222		6,400		1,832		(3,201)		7,253
	Property, plant and mine development, net			-		5,364		7,562		(19)		12,907
	Investments			-		25		1,543		-		1,568
	Investments in subsidiaries			12,295		35		1,909		(14,239)		-
	Stockpiles and ore on leach pads			-		1,347		410		-		1,757
	Deferred income tax assets			638		690		109		-		1,437
	Other long-term assets			2,675		496		584		(3,014)		741
		Total assets	$	17,830	$	14,357	$	13,949	$	(20,473)	$	25,663
Liabilities
	Debt		$	-	$	249	$	10	$	-	$	259
	Accounts payable			355		1,269		1,996		(3,193)		427
	Employee-related benefits			-		222		66		-		288
	Income and mining taxes			19		261		75		-		355
	Other current liabilities			56		373		2,959		(1,970)		1,418
		Current liabilities		430		2,374		5,106		(5,163)		2,747
	Debt			3,991		135		56		-		4,182
	Reclamation and remediation liabilities			-		676		308		-		984
	Deferred income tax liabilities			-		513		975		-		1,488
	Employee-related benefits			5		244		76		-		325
	Other long-term liabilities			375		56		2,824		(3,034)		221
		Total liabilities		4,801		3,998		9,345		(8,197)		9,947
Equity
	Preferred stock			-		-		61		(61)		-
	Common stock			778		-		-		-		778
	Additional paid-in capital			7,963		2,722		3,894		(6,300)		8,279
	Accumulated other comprehensive income			1,108		(75)		1,180		(1,105)		1,108
	Retained earnings			3,180		4,850		(1,109)		(3,741)		3,180
	Newmont stockholders’ equity			13,029		7,497		4,026		(11,207)		13,345
	Noncontrolling interests			-		2,862		578		(1,069)		2,371
		Total equity		13,029		10,359		4,604		(12,276)		15,716
		Total liabilities and equity	$	17,830	$	14,357	$	13,949	$	(20,473)	$	25,663

(1) Excludes Amortization and Reclamation and remediation.

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Unaudited Supplementary Data (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Selected Quarterly Financial Information Abstract
Sales	$ 2,765	$ 2,744	$ 2,384	$ 2,465	$ 2,548	$ 2,597	$ 2,153	$ 2,242	$ 10,358	$ 9,540	$ 7,705
Gross Profit	1,423	1,460	1,174	1,255	1,402	1,447	1,061	1,136
Income (loss) from continuing operations	(1,028)	493	523	514	840	537	382	546	502	2,305	1,308
Loss from discontinued operations	0	0	(136)	0	(28)	0	0	0	(136)	(28)	(11)
Net income (loss)	(1,028)	493	387	514	812	537	382	546	366	2,277	1,297
Income (loss) from continuing operations, per common share, basic	$ (2.08)	$ 1.00	$ 1.06	$ 1.04	$ 1.71	$ 1.09	$ 0.78	$ 1.11	$ 1.02	$ 4.69	$ 2.68
Income (loss) from discontinued operations, per common share, basic	$ 0	$ 0	$ (0.28)	$ 0	$ (0.06)	$ 0	$ 0	$ 0	$ (0.28)	$ (0.06)	$ (0.02)
Net income (loss) per common share, basic	$ (2.08)	$ 1.00	$ 0.78	$ 1.04	$ 1.65	$ 1.09	$ 0.78	$ 1.11	$ 0.74	$ 4.63	$ 2.66
Income (loss) from continuing operations, per common share, diluted	$ (2.02)	$ 0.98	$ 1.04	$ 1.03	$ 1.67	$ 1.07	$ 0.77	$ 1.11	$ 1.00	$ 4.61	$ 2.68
Income (loss) from discontinued operations, per common share, diluted	$ 0	$ 0	$ (0.27)	$ 0	$ (0.06)	$ 0	$ 0	$ 0	$ (0.27)	$ (0.06)	$ (0.02)
Net income (loss) per common share, diluted	$ (2.02)	$ 0.98	$ 0.77	$ 1.03	$ 1.61	$ 1.07	$ 0.77	$ 1.11	$ 0.73	$ 4.55	$ 2.66
Basic weighted-average shares outstanding	495	494	494	493	493	493	492	491	494	492	487
Diluted weighted-average shares outstanding	510	504	501	501	504	502	499	493	504	500	487
Cash dividends declared per common share	$ 0.35	$ 0.30	$ 0.20	$ 0.15	$ 0.15	$ 0.15	$ 0.10	$ 0.10	$ 1.00	$ 0.50	$ 0.40
Closing price of common stock	$ 60.01	$ 62.95	$ 53.97	$ 54.58	$ 61.43	$ 62.81	$ 61.74	$ 50.93
Income Tax Benefit From Internal Restructuring [Member]
Supplementary Data (Textuals)
Significant after-tax items			(65)		(264)			(127)
Signifcant after-tax items per share basic			$ (0.13)		$ (0.54)			$ (0.26)
Gains (Losses) on Sales of Assets [Member]
Supplementary Data (Textuals)
Significant after-tax items	(9)	(9)	(32)				(7)	(25)
Signifcant after-tax items per share basic	$ (0.02)	$ (0.02)	$ (0.06)				$ (0.01)	$ (0.05)
PTNNT Community Contribution [Member]
Supplementary Data (Textuals)
Significant after-tax items								(13)
Signifcant after-tax items per share basic								$ (0.03)
Fronteer Acquisition Costs [Member]
Supplementary Data (Textuals)
Significant after-tax items			(18)
Signifcant after-tax items per share basic			$ (0.03)
Segment, Discontinued Operations [Member]
Supplementary Data (Textuals)
Significant after-tax items			(136)
Signifcant after-tax items per share basic			$ (0.28)
Hope Bay Impairment [Member]
Supplementary Data (Textuals)
Significant after-tax items	(1,609)
Signifcant after-tax items per share basic	$ (3.25)
Investments Impairment Charge [Member]
Supplementary Data (Textuals)
Significant after-tax items	$ (4)	$ (151)
Signifcant after-tax items per share basic	$ (0.01)	$ (0.31)

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Investments

12 Months Ended

Dec. 31, 2011

Investments [Abstract]

INVESTMENTS

NOTE ##InvestNote    INVESTMENTS
				At December 31, 2011
				Cost/Equity		Unrealized				Fair/Equity
				Basis		Gain		Loss		Basis
	Current:
		Marketable Equity Securities:
			Paladin Energy Ltd.	$	60	$	13	$	-	$	73
			Other		15		7		(1)		21
				$	75	$	20	$	(1)	$	94
	Long-term:
		Marketable Debt Securities:
			Asset backed commercial paper	$	25	$	-	$	(6)	$	19
			Auction rate securities		7		-		(2)		5
			Corporate		10		1		-		11
					42		1		(8)		35
		Marketable Equity Securities:
			Canadian Oil Sands Trust		302		401		-		703
			Gabriel Resources Ltd.		76		236		-		312
			Regis Resources Ltd.		36		218		-		254
			Other		92		16		(17)		91
					506		871		(17)		1,360
		Other investments, at cost			11		-		-		11
		Investment in Affiliates:
			La Zanja		66		-		-		66
				$	625	$	872	$	(25)	$	1,472

			At December 31, 2010
			Cost/Equity		Unrealized				Fair/Equity
			Basis		Gain		Loss		Basis
Current:
	Marketable Equity Securities:
		New Gold Inc.	$	5	$	54	$	-	$	59
		Other		19		35		-		54
			$	24	$	89	$	-	$	113
Long-term:
	Marketable Debt Securities:
		Asset backed commercial paper	$	25	$	-	$	(6)	$	19
		Auction rate securities		7		-		(2)		5
		Corporate		7		3		-		10
				39		3		(8)		34
	Marketable Equity Securities:
		Canadian Oil Sands Trust		308		508		-		816
		Gabriel Resources Ltd.		78		325		-		403
		Regis Resources Ltd.		23		148		-		171
		Other		39		37		-		76
				448		1,018		-		1,466
	Other investments, at cost			11		-		-		11
	Investment in Affiliates:
		La Zanja		57		-		-		57
			$	555	$	1,021	$	(8)	$	1,568

In conjunction with the April 6, 2011 acquisition of Fronteer, Newmont acquired $208 of Paladin Energy Ltd. securities and $73 of other marketable equity securities which were subsequently impaired for other-than-temporary declines in value resulting in charges of $148 for Paladin Energy Ltd. and $32 for other marketable equity securities.

In 2011, Newmont sold its investment in New Gold Inc. and realized a gain of $50 and sold other marketable equity securities and realized a gain of $14.

In 2010, AGR, in which the Companyheld a 40% equity interest, was dissolved and the Companyreceived consideration of $14 and recorded a gain of $6. During 2010, the Company recognized impairments for other-than-temporary declines in value of $1 for other marketable equity securities.

The following tables present the gross unrealized losses and fair value of the Company's investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by length of time that the individual securities have been in a continuous unrealized loss position:

		Less than 12 Months				12 Months or Greater				Total
At December 31, 2011		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Asset backed commercial paper	$	-	$	-	$	19	$	6	$	19	$	6
Auction rate securities		-		-		5		2		5		2
Marketable equity securities		42		18		-		-		42		18
	$	42	$	18	$	24	$	8	$	66	$	26
		Less than 12 Months				12 Months or Greater				Total
At December 31, 2010		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Asset backed commercial paper	$	-	$	-	$	19	$	6	$	19	$	6
Auction rate securities		-		-		5		2		5		2
	$	-	$	-	$	24	$	8	$	24	$	8

Included in the tables above are the unrealized losses of $26 and $8 atDecember 31, 2011 and 2010, respectively, related to the Company's investments inasset backed commercial paper,auction rate securitiesand marketable equity securities. While the fair values of these investments are below their respective cost, the Company views these declines as temporary. The Company intends to hold its investment in auction rate securities and asset backed commercial paper until maturity or such time that the market recovers and therefore considers these losses temporary.

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Summary of Significant Accounting Policies (Details)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Summary of Significant Accounting Policies (Textuals)
Ownership interest in subsidiaries	56.00%	63.00%	80.00%
Noncontrolling interest, ownership percentage by noncontrolling owners	20.00%
Batu Hijau [Member]
Summary of Significant Accounting Policies (Textuals)
Ownership interest in subsidiaries	31.50%

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The Company

12 Months Ended

Dec. 31, 2011

The Company [Abstract]

THE COMPANY

NOTE 1    THE COMPANY

Newmont Mining Corporation and its affiliates and subsidiaries (collectively, “Newmont” or the “Company”) predominantly operates in the mining industry, focused on the exploration for and production of gold and copper. The Company has significant assets in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. The cash flow and profitability of the Company's operations are significantly affected by the market price of gold, and to a lesser extent, copper. The prices of gold and copper are affected by numerous factors beyond the Company's control.

References to “A$” refers to Australian currency, “C$” to Canadian currency, “NZ$” to New Zealand currency, “IDR” to Indonesian currency and “$” to United States currency.

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Statements of Consolidated Comprehensive Income (Loss) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Statement of Income and Comprehensive Income [Abstract]
Net income	$ 972	$ 3,116	$ 2,093
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities, net of $41, $(60) and $(82) tax benefit (expense), respectively	(195)	269	418
Foreign currency translation adjustments	8	98	264
Change in pension and other post-retirement benefits, net of $32, $7 and $(7) tax benefit (expense), respectively
Net change from periodic revaluations	(76)	(23)	4
Net amount reclassified to income	16	10	10
Net unrecognized gain (loss) on pension and other post-retirement benefits	(60)	(13)	14
Change in fair value of cash flow hedge instruments, net of $168, $(59) and $(82) tax benefit (expense), respectively
Net change from periodic revaluations	(73)	202	183
Net amount reclassified to income	(136)	(72)	3
Net unrecognized gain (loss) on derivatives	(209)	130	186
Other comprehensive income (loss)	(456)	484	882
Comprehensive income (loss)	516	3,600	2,975
Comprehensive income (loss) attributable to:
Newmont stockholders	(90)	2,759	2,176
Noncontrolling interests	606	841	799
Comprehensive income (loss)	516	3,600	2,975
Other comprehensive income (loss) tax:
Unrealized gain (loss) on marketable securities tax	41	(60)	(82)
Change in pension and other post-retirement benefits tax	32	7	(7)
Change in fair value of cash flow hedge instruments tax	$ 168	$ (59)	$ (82)

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Equity Income (Loss) of Affiliates

12 Months Ended

Dec. 31, 2011

Equity Income Loss of Affiliates Disclosure [Abstract]

EQUITY INCOME LOSS OF AFFILIATES

NOTE ##EqtyIncAffNote EQUITY INCOME (LOSS) OF AFFILIATES
	Years Ended December 31,
	2011		2010		2009
Minera La Zanja S.R.L.	$	52	$	10	$	(4)
Euronimba Ltd.		(41)		(10)		(17)
AGR Matthey Joint Venture		-		3		5
	$	11	$	3	$	(16)

Minera La Zanja S.R.L.

Newmont holds a46.94% interest in Minera La Zanja, S.R.L. (“La Zanja”), a gold project near the city of Cajamarca, Peru. The remaining interest is held by Compañia de Minas Buenaventura, S.A.A. (“Buenaventura”). The mine commenced operations inSeptember2010 and is operated by Buenaventura. Newmont received dividends of $31 during 2011 from its interest in La Zanja.

Euronimba Ltd.

Newmont holds a 43.50% interest in Euronimba Ltd. (“Euronimba”), with the remaining interests held by BHP Billiton (43.50%) and Areva (13%). Euronimba owns95% of the Nimba iron ore project located in the Republic of Guinea which is in the early stages of development.

AGR Matthey Joint Venture

The AGR Matthey Joint Venture (“AGR”), a gold refinery, in which Newmont held a 40% interest, was dissolved on March 30, 2010. Newmont received consideration of $14 from the dissolution and recorded a gain of $6 during 2010. Newmont received dividends of $7 and$2 during 2010 and 2009, respectively, from its interests in AGR. See also Note 26 for details of Newmont's transactions with AGR.

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Net Change in Operating Assets and Liabilities (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Decrease (increase) in operating assets:
Trade and accounts receivable	$ 52	$ (153)	$ 42
Inventories, stockpiles and ore on leach pads	(495)	(501)	(378)
EGR refinery assets	(266)	116	(508)
Other assets	(51)	(87)	(19)
Increase (decrease) in operating liabilities:
Accounts payable and other accrued liabilities	226	38	177
EGR refinery liabilities	266	(116)	508
Reclamation liabilities	(43)	(51)	(49)
Net change in operating assets and liabilities	$ (311)	$ (754)	$ (227)

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Accumulated Other Comprehensive Income (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Accumulated Other Comprehensive Income [Line Items]
Unrealized gain on marketable securities net of tax expense	$ 707	$ 902
Foreign currency translation adjustments	163	155
Changes in fair value of cash flow hedge instruments net of tax expense and noncontrolling interests	7	216
Accumulated other comprehensive income	652	1,108
Accumulated Other Comprehensive Income (Textuals)
Tax on unrealized gain on marketable securities	(159)	(200)
Tax on Changes in fair value of cash flow hedge instruments	71	(97)
Pension benefit costs [Member]
Accumulated Other Comprehensive Income [Line Items]
Pension liability and other post-retirement benefit adjustments net of tax expense	(231)	(176)
Accumulated Other Comprehensive Income (Textuals)
Tax on pension liability and other post-retirement benefits adjustments	125	95
Other benefit costs [Member]
Accumulated Other Comprehensive Income [Line Items]
Pension liability and other post-retirement benefit adjustments net of tax expense	6	11
Accumulated Other Comprehensive Income (Textuals)
Tax on pension liability and other post-retirement benefits adjustments	$ (4)	$ (6)

XML

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2011	Feb. 15, 2012	Jun. 30, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	NEWMONT MINING CORP /DE/
Entity Central Index Key	0001164727
Document Type	10-K
Document Period End Date	Dec. 31, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q4
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 26,633,084,783
Entity Common Stock, Shares Outstanding		490,150,298

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Discontinued Operations

12 Months Ended

Dec. 31, 2011

Discontinued Operations [Abstract]

DISCONTINUED OPERATIONS

NOTE 12    DISCONTINUED OPERATIONS

Discontinued operations include Holloway Mining Company, which owned the Holt-McDermott property (“Holt property”) that was sold to St. Andrew Goldfields Ltd. (“St. Andrew”) in 2006. In 2009, the Superior Court issued a decision finding Newmont Canada Corporation (“Newmont Canada”) liable for a sliding scale royalty on production from the Holt property, which Newmont Canada appealed. In 2010, the Company recognized a $28 charge, net of tax benefitsof $12, related to these legal claims. In 2011, the Ontario Court of Appeal upheld the Superior Court ruling resulting in an additional $136 charge, net of tax benefits of $7.

In July 2009, the Company sold its interest in Kori Kollo in Bolivia. As part of the transaction, a reclamation trust fund was established with the proceeds to be made available exclusively to pay for closure and reclamation costs when operations eventually cease. The Company recognized a $16 charge in 2009, net of tax benefits of $27, related to the sale.

Newmont has accounted for these dispositions in accordance with accounting guidance for the impairment or disposal of long-lived assets. The Company has reclassified the income statement results from the historical presentation to Loss from discontinued operations in the Statements of Consolidated Income for all periods presented. The Statements of Consolidated Cash Flows have been reclassified for discontinued operations for all periods presented.

The following table details selected financial information included in the Loss from discontinued operations in the Statements of Consolidated Income:

	Years Ended December 31,
	2011		2010		2009
Sales	$	-	$	-	$	32
Income from operations	$	-	$	-	$	1
Non-operating loss		(143)		(40)		(44)
Pre-tax loss		(143)		(40)		(43)
Income tax benefit		7		12		27
Loss from discontinued operations	$	(136)	$	(28)	$	(16)

The following table details selected financial information included in Net cash provided from (used in) discontinued operations and financing activities of discontinued operations:

		Years Ended December 31,
		2011		2010		2009
Net cash provided from (used in) discontinued operations:
	Loss from discontinued operations	$	(136)	$	(28)	$	(16)
	Amortization		-		-		3
	Deferred income taxes		(7)		(12)		(28)
	Impairment of assets held for sale		-		-		44
	Other operating adjustments and write-downs		-		-		7
	Increase in net operating liabilities		136		27		23
		$	(7)	$	(13)	$	33
Net cash used in financing activities of discontinued operations:
	Repayment of debt	$	-	$	-	$	(2)
		$	-	$	-	$	(2)

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Newmont Equity and Income Per Share (Details) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Earnings per share reconciliation [Abstract]
Continuing operations	$ (1,028,000,000)	$ 493,000,000	$ 523,000,000	$ 514,000,000	$ 840,000,000	$ 537,000,000	$ 382,000,000	$ 546,000,000	$ 502,000,000	$ 2,305,000,000	$ 1,308,000,000
Discontinued operations	0	0	(136,000,000)	0	(28,000,000)	0	0	0	(136,000,000)	(28,000,000)	(11,000,000)
Net income attributable to Newmont common stockholders									366,000,000	2,277,000,000	1,297,000,000
Weighted average common shares (millions):
Basic	495,000,000	494,000,000	494,000,000	493,000,000	493,000,000	493,000,000	492,000,000	491,000,000	494,000,000	492,000,000	487,000,000
Effect of employee stock based awards									2,000,000	2,000,000	0
Effect of convertible notes									8,000,000	6,000,000	0
Diluted	510,000,000	504,000,000	501,000,000	501,000,000	504,000,000	502,000,000	499,000,000	493,000,000	504,000,000	500,000,000	487,000,000
Net income attributable to Newmont stockholders per common share, basic
Continuing operations	$ (2.08)	$ 1.00	$ 1.06	$ 1.04	$ 1.71	$ 1.09	$ 0.78	$ 1.11	$ 1.02	$ 4.69	$ 2.68
Discontinued operations	$ 0	$ 0	$ (0.28)	$ 0	$ (0.06)	$ 0	$ 0	$ 0	$ (0.28)	$ (0.06)	$ (0.02)
Earnings per share basic	$ (2.08)	$ 1.00	$ 0.78	$ 1.04	$ 1.65	$ 1.09	$ 0.78	$ 1.11	$ 0.74	$ 4.63	$ 2.66
Net income attributable to Newmont stockholders per common share, diluted
Continuing operations	$ (2.02)	$ 0.98	$ 1.04	$ 1.03	$ 1.67	$ 1.07	$ 0.77	$ 1.11	$ 1.00	$ 4.61	$ 2.68
Discontinued operations	$ 0	$ 0	$ (0.27)	$ 0	$ (0.06)	$ 0	$ 0	$ 0	$ (0.27)	$ (0.06)	$ (0.02)
Earnings per share diluted	$ (2.02)	$ 0.98	$ 0.77	$ 1.03	$ 1.61	$ 1.07	$ 0.77	$ 1.11	$ 0.73	$ 4.55	$ 2.66
Net income attributable to Newmont stockholders and transfers from noncontrolling interest [Abstract]
Net income attributable to Newmont stockholders	(1,028,000,000)	493,000,000	387,000,000	514,000,000	812,000,000	537,000,000	382,000,000	546,000,000	366,000,000	2,277,000,000	1,297,000,000
Transfers from noncontrolling interests:
Increase in Additional paid in capital from sale of PTNNT shares, net of tax of nil, $33 and $115, respectively									0	16,000,000	63,000,000
Net income attributable to Newmont stockholders and transfers from noncontrolling interests									366,000,000	2,293,000,000	1,360,000,000
Income Per Common Share (Textuals)
Converted Exchangeable Shares									1,600,000
New Exchangeable Shares									4,900,000
Anti-dilutive shares - stock options									2,000,000	2,000,000	4,000,000
Options to purchase common shares average exercise price									58	57	47
Anti-dilutive shares - convertible notes									8,000,000	6,000,000	0
Share transfers gains tax									$ 0	$ 33,000,000	$ 115,000,000
Convertible Senior Notes Net Of Discount 2012 [Member]
Income Per Common Share (Textuals)
Conversion price on convertible notes	$ 45.73								$ 45.73
Convertible notes common stock									11,316,422
Convertible Senior Notes Net Of Discount 2014 And 2017 [Member]
Income Per Common Share (Textuals)
Conversion price on convertible notes	$ 45.68								$ 45.68
Conversion price on call spread transaction	$ 59.59								$ 59.59
Convertible notes common stock									25,175,131

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Other Liabilities (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Other current liabilities:
Refinery metal payable	$ 796	$ 617
Derivative instruments	408	0
Accrued capital expenditures	248	83
Accrued operating costs	231	217
Taxes other than income and mining	93	135
Reclamation and remediation liabilities	71	64
Interest	55	66
Royalties	53	90
Deferred income tax	50	54
Boddington contingent consideration	24	32
Holt property royalty	17	0
Other	87	60
Other current liabilities, total	2,133	1,418
Other long-term liabilities
Holt property royalty	159	40
Income and mining taxes	88	36
Power supply agreements	45	45
Boddington contingent consideration	30	51
Derivative instruments	6	0
Other	36	49
Other long-term liabilities, total	$ 364	$ 221

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Statements of Consolidated Cash Flows (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Operating activities:
Net income	$ 972	$ 3,116	$ 2,093
Adjustments:
Amortization	1,036	945	806
Stock based compensation and other non-cash benefits	79	70	57
Reclamation and remediation	101	65	59
Revaluation of contingent consideration	1	2	23
Loss from discontinued operations	(136)	(28)	(16)
Write-down of property, plant and mine development	2,084	6	7
Impairment of marketable securities	180	1	6
Deferred income taxes	(671)	(380)	1
Gain on asset sales, net	(81)	(64)	(24)
Other operating adjustments and write-downs	65	145	97
Net change in operating assets and liabilities	(311)	(754)	(227)
Net cash provided from (used in) continuing operations	3,591	3,180	2,914
Net cash provided from (used in) discontinued operations	(7)	(13)	33
Net cash provided from operations	3,584	3,167	2,947
Investing activities:
Additions to property, plant and mine development	(2,787)	(1,402)	(1,769)
Acquisitions, net	(2,309)	(4)	(1,007)
Proceeds from sale of marketable securities	81	3	17
Purchases of marketable securities	(21)	(28)	(5)
Proceeds from sale of other assets	9	56	18
Other	(40)	(44)	(35)
Net cash used in investing activities	(5,067)	(1,419)	(2,781)
Financing activities:
Proceeds from debt, net	2,011	0	4,299
Repayment of debt	(2,273)	(430)	(2,731)
Proceeds from stock issuance, net	40	60	1,278
Sale of noncontrolling interests	0	229	638
Acquisition of noncontrolling interests	0	(110)	(287)
Dividends paid to noncontrolling interests	(117)	(462)	(394)
Dividends paid to common stockholders	(494)	(246)	(196)
Other	(21)	44	(35)
Net cash provided from (used in) financing activities of continuing operations	(854)	(915)	2,572
Net cash used in financing activities of discontinued operations	0	0	(2)
Net cash provided from (used in) financing activities	(854)	(915)	2,570
Effect of exchange rate changes on cash	41	8	44
Net change in cash and cash equivalents	(2,296)	841	2,780
Cash and cash equivalents at beginning of period	4,056	3,215	435
Cash and cash equivalents at end of period	$ 1,760	$ 4,056	$ 3,215

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Other Expense, Net

12 Months Ended

Dec. 31, 2011

Other Expense, Net [Abstract]

Other Expense Net [Text Block]

NOTE ##OthExpNote    OTHER EXPENSE, NET
	Years Ended December 31,
	2011		2010		2009
Regional administration	$	78	$	64	$	55
Community development		67		111		84
Acquisition costs		22		-		67
Indonesian value added tax settlement		21		10		-
Write-down of Hope Bay inventory		17		-		-
Western Australia power plant		15		15		37
Batu Hijau divestiture		7		4		12
World Gold Council dues		7		13		11
Revaluation of contingent consideration		1		2		23
Other		30		42		69
	$	265	$	261	$	358

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Write-Down Of Property Plant And Mine Development

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment Impairment or Disposal [Abstract]

WRITE-DOWN OF PROPERTY, PLANT AND MINE DEVELOPMENT

NOTE ##AdvProjNote ADVANCED PROJECTS, RESEARCH AND DEVELOPMENT

NOTE ##WritedownsNote    WRITE-DOWN OF PROPERTY, PLANT AND MINE DEVELOPMENT
		Years Ended December 31,
		2011		2010		2009
	Hope Bay	$	2,080	$	-	$	-
	Nevada		2		4		1
	Batu Hijau		1		1		4
	Yanacocha		1		-		1
	Other Australia/New Zealand		-		1		1
		$	2,084	$	6	$	7

Write-down of property, plant and mine developmenttotaled $2,084 in 2011, primarily due to an impairment related to the Hope Bay project that resulted from the Company's decision to place the project on care and maintenance and to focus on environmental and regulatory compliance spending. The Company placed the Hope Bay project on care and maintenance after evaluating existing development options and economic feasibility for the project compared with other project and development opportunities within the Company's wider project pipeline.

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Derivative Instruments

12 Months Ended

Dec. 31, 2011

Derivative Instrument Detail [Abstract]

DERIVATIVE INSTRUMENTS

NOTE 17    DERIVATIVE INSTRUMENTS

The Company's strategy is to provide shareholders with leverage to changes in gold and copper prices by selling its production at spot market prices. Consequently, the Company does not hedge its gold and copper sales. Newmontmanagescertain risks associated with commodity input costs, treasury rates and foreign currencies using the derivative market.All of the cash flow and fair value derivative instruments described below were transacted for risk management purposes and qualify as hedging instruments. The maximum period over which hedged transactions are expected to occur is five years.

Cash Flow Hedges

The foreign currency, diesel and forward starting swap contracts are designated as cash flow hedges, and as such, the effective portion of unrealized changes in market value have been recorded in Accumulated other comprehensive incomeand are reclassified to income during the period in which the hedged transaction affects earnings. Gains and losses from hedge ineffectiveness are recognized in current earnings.

Foreign Currency Contracts

Newmont utilizes foreign currency contracts to reduce the variability of the US dollar amount of forecasted foreign currency expenditures caused by changes in A$and NZ$ exchange rates. Newmont hedges a portion of the Company's A$and NZ$ denominated operating expenditures to realizea blended exchange rate each period. The hedging instruments are fixed forward contracts with expiration dates ranging up to five years from the date of issue.

In June 2011, Newmont began hedging a portion of the Company's A$ denominated capital expenditures related to the construction of the Akyem project in Africa. The hedging instruments are fixed forward contracts with expiration dates ranging up to two years.

In July 2011, Newmont began hedging a portion of the Company's A$ denominated capital expenditures related to the construction of a mine shaft at its Tanami operations in Australia. The hedging instruments are fixed forward contracts with expiration dates ranging up to three years.

Newmont had the following foreign currency derivative contracts outstanding at December 31, 2011:

		Expected Maturity Date
																	Total/
		2012			2013			2014			2015			2016			Average
A$ Operating Fixed Forward Contracts:
	A$ notional (millions)		1,218			951			665			375			141			3,350
	Average rate ($/A$)		0.91			0.92			0.89			0.87			0.89			0.90
	Expected hedge ratio		76	%		62	%		46	%		26	%		10	%
A$ Capital Fixed Forward Contracts:
	A$ notional (millions)		57			51			22			-			-			130
	Average rate ($/A$)		1.01			0.98			0.96			-			-			0.99
	Expected hedge ratio		42	%		28	%		23	%		-			-
NZ$ Operating Fixed Forward Contracts:
	NZ$ notional (millions)		62			23			-			-			-			85
	Average rate ($/NZ$)		0.75			0.77			-			-			-			0.76
	Expected hedge ratio		48	%		20	%		-			-			-

Diesel Fixed Forward Contracts

Newmont hedges a portion of its operating cost exposure related to diesel consumed at its Nevada operations to reduce the variability in realized diesel prices. The hedging instruments consist of a series of financially settled fixed forward contracts with expiration dates ranging up to three years from the date of issue.

Newmont had the following diesel derivative contracts outstanding at December 31, 2011:

		Expected Maturity Date
										Total/
		2012			2013			2014		Average
Diesel Fixed Forward Contracts:
	Diesel gallons (millions)		25			11			3		39
	Average rate ($/gallon)		2.81			2.90			2.82		2.84
	Expected Nevada hedge ratio		56	%		24	%		7	%

Forward Starting Swap Contracts

During 2011, Newmont entered into forward starting swap contracts with a total notional value of $2,000. These swaps hedge movements in treasury rates related to an expected debt issuance. The Company subsequentlyrevised its expected debt issuance date to the first half of 2012 and extended the terms of the forward starting swap contracts, resulting in the recognition of $15 in charges related to hedge ineffectiveness in 2011. At December 31, 2011, the hedge contracts were in a liability position of $399. The proceeds from the expected debt issuance will be adjusted by the fair value of the swap contracts at the time of issuance.

Treasury Rate Lock Contracts

In connection with the 2019 and 2039 notes issued in September 2009, Newmont acquired treasury rate lock contracts to reduce the variability of the proceeds realized from the bond issuances. The treasury rate locks resulted in $6 and $5 unrealized gains in Accumulated other comprehensive incomefor the 2019 and 2039 notes, respectively. The Company previously acquired treasury rate locks in connection with the issuance of the 2035 notes that resulted in a $10 unrealized loss in Accumulated other comprehensive income. The gains/losses from these contracts are recognized in Interest expense, net over the terms of the respective notes.

Fair Value Hedges

Interest Rate Swap Contracts

Newmont had $222 fixed to floating swap contracts designated as a hedge against debt which matured in May 2011.

Derivative Instrument Fair Values

Newmont had the following derivative instruments designated as hedges at December 31, 2011 and December 31, 2010:

		Fair Values of Derivative Instruments
		At December 31, 2011
		Other Current Assets		Other Long-Term Assets		Other Current Liabilities		Other Long-Term Liabilities
Foreign currency exchange contracts:
	A$ operating fixed forward contracts	$	121	$	112	$	6	$	4
	A$ capital fixed forward contracts		-		-		-		1
	NZ$ operating fixed forward contracts		2		-		1		-
Diesel fixed forward contracts			4		-		2		1
Forward starting swap contracts			-		-		399		-
Total derivative instruments (Notes ##OthAssetsNote and ##OthLiabNote)		$	127	$	112	$	408	$	6
		Fair Values of Derivative Instruments
		At December 31, 2010
		Other Current Assets		Other Long-Term Assets		Other Current Liabilities		Other Long-Term Liabilities
Foreign currency exchange contracts:
	A$ operating fixed forward contracts	$	181	$	114	$	-	$	-
	NZ$ operating fixed forward contracts		5		1		-		-
Diesel fixed forward contracts			7		1		-		-
Interest rate swap contracts			3		-		-		-
Total derivative instruments (Notes ##OthAssetsNote and ##OthLiabNote)		$	196	$	116	$	-	$	-

The following tables show the location and amount of gains (losses) reported in the Company's Consolidated Financial Statements related to the Company's cash flow and fair value hedges and the gains (losses) recorded for the hedged item related to the fair value hedges.

		Foreign Currency Exchange Contracts						Diesel Fixed Forward Contracts
For the years ended December 31,		2011		2010		2009		2011		2010		2009
Cash flow hedging relationships:
	Gain recognized in other comprehensive income (effective portion)	$	151	$	287	$	245	$	6	$	6	$	7
	(1)?	$	188	$	92	$	(6)	$	14	$	4	$	(11)
		Forward Starting Swap Contracts						Treasury Rate Lock Contracts
For the years ended December 31,		2011		2010		2009		2011		2010		2009
Cash flow hedging relationships:
	Gain (loss) recognized in other comprehensive income (effective portion)	$	(399)	$	-	$	-	$	-	$	-	$	11
	(2)?	$	(15)	$	-	$	-	$	-	$	-	$	-

(1)The gain (loss) for the effective portion of foreign currency exchange and diesel cash flow hedges reclassified from Accumulated other comprehensive income is included in Costs applicable to sales.

(2)The ineffective portion recognized for cashflow hedges is included in Other Income, net.

		Interest Rate Swap Contracts						8 5/8% Debentures (Hedged Portion)
For the years ended December 31,		2011		2010		2009		2011		2010		2009
Fair value hedging relationships:
	Gain (loss) recognized in income (effective portion) (1)?	$	3	$	6	$	4	$	(6)	$	-	$	(1)
	Gain (loss) recognized in income (ineffective portion)(2)?	$	(2)	$	(4)	$	(3)	$	-	$	2	$	(3)

(1) The gain (loss) recognized for the effective portion of fair value hedges and the underlying hedged debt is included in Interest expense, net.

(2)The ineffective portion recognized for fair value hedges and the underlying hedged debt is included in Other income, net.

The amount to be reclassified from Accumulated other comprehensive income, net of tax to income during the next 12 months is a gain of approximately $80.

Provisional Copper and Gold Sales

The Company's provisional copper and gold sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the gold and copper concentrates at the prevailing indices' prices at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to final settlement.

The average LME copper pricewas $4.00 per pound during 2011, compared with the Company's recorded average provisional price of $4.02 before mark-to-market losses and treatment and refining charges. During 2011, decreasing copper prices resulted in a provisional pricing mark-to-market loss of $92 ($0.26 per pound). At December 31, 2011, Newmont had copper sales of 79 million pounds priced at an average of $3.43 per pound, subject to final pricing over the next several months.

The average London P.M. fix for gold was $1,572 per ounce during 2011, compared with the Company's recorded average provisional price of $1,567 per ounce before mark-to-market gains and treatment and refining charges. During 2011, increasing gold prices resulted in a provisional pricing mark-to-market gain of $31 ($5 per ounce). At December 31, 2011, Newmont had gold sales of 85,000 ounces priced at an average of $1,576 per ounce, subject to final pricing over the next several months.

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Net Income attributable to Noncontrolling Interests

12 Months Ended

Dec. 31, 2011

Net Income attributable to Noncontrolling Interests [Abstract]

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

NOTE ##NCINote    NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
		Years Ended December 31,
		2011		2010		2009
	Yanacocha	$	326	$	292	$	354
	Batu Hijau		287		549		445
	Other		(7)		(2)		(3)
		$	606	$	839	$	796

Newmont has a 51.35% ownership interest in Yanacocha, with the remaining interests held by Compañia de Minas Buenaventura, S.A.A. (43.65%) and the International Finance Corporation (5%).

In June 2010, PTPI completed the sale of an approximate 2.2% interest in PTNNT to PTIMI.  To enable the transaction to proceed, the Company released its rights to the dividends payable on this 2.2% interest and released the security interest in the associated shares. The Company further agreed to advance certain funds to PTIMI to enable it to purchase the interest in exchange for (i) a pledge of their 2.2% share of PTNNT, (ii) an assignment of dividends payable on the shares, net of withholding tax, and (iii) a commitment from them to support the application of Newmont standards to the operation of the Batu Hijau mine. The funds that the Company advanced to PTIMI and which it paid to PTPI for the shares were used by PTPI to reduce its outstanding loan balance with the Company.  Upon completion of this transaction, PTPI requested and was allowed to borrow additional funds under the Company's agreement with PTPI.  The Company's economic interest in PTPI's and PTIMI's combined 20% interest in PTNNT remains at 17% and did not change as a result of these transactions.

In March 2010, the Company(through Nusa Tenggara Partnership B.V. (“NTPBV”)) completed the sale and transfer of shares for a 7% interest in PTNNT to PT Multi Daerah Bersaing (“PTMDB”) in compliance with divestiture obligations under the Contract of Work, reducing NTPBV's ownership interest to 56% from 63%. In 2009, the Company(through NTPBV) completed the sale and transfer of shares for a 17% interest in PTNNTto PTMDB in compliance with divestiture obligations under the Contract of Work, reducing NTPBV's ownership interest to 63% from 80%. The 2010 and 2009 share transfers resulted in gains of approximately $16 (after tax of $33) and $63 (after tax of $115), respectively, that were recorded asAdditional paid-in capital.For information on the Batu Hijau Contract of Work and divestiture requirements, see the discussion in Note 31 to the Consolidated Financial Statements.

In December 2009, the Company entered into a transaction with PTPI, whereby the Company agreed to advance certain funds to PTPI in exchange for a pledge of the noncontrolling shareholder's 20% stake in PTNNT; an assignment of dividends on the shares, net of withholding tax; a commitment from PTPI to support the application of Newmont's standards to the operation of the Batu Hijau mine; and as of September 16, 2011 powers of attorney to vote and sell PTNNT shares in support of the pledge. Based on the transaction with PTPI, the Company recognized an additional 17% effective economic interest in PTNNT.

At December 31, 2011, Newmont had a 48.50% effective economic interest in PTNNT. Based on ASC guidance for variable interest entities, Newmont continues to consolidate PTNNT in its Consolidated Financial Statements.

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Investments (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Investment in Marketable Securities
Current investments	$ 94	$ 113
Long-term investments	1,472	1,568
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract]
Securities continuous unrealized losses less than 12 months - unrealized losses	18	0
Securities continuous unrealized losses greater than 12 months - unrealized losses	8	8
Securities continuous unrealized losses - unrealized losses	26	8
Available For Sale Securities Continuous Unrealized Loss Position Fair Value Abstract
Securities continuous unrealized losses less than 12 months - fair value	42	0
Securities continuous unrealized losses greater than 12 months - fair value	24	24
Securities continuous unrealized losses - fair value	66	24
Investments (Textuals) [Abstract]
Payments to acquire marketable securities	21	28	5
Gain on sale of investments, net	64	16	8
Impairment of marketable securities	180	1	6
Newmont equity interest ownership	40.00%
Securities continuous unrealized losses - unrealized losses	26	8
Current [Member]
Investment in Marketable Securities
Cost/Equity Basis	75	24
Unrealized Gain	20	89
Unrealized Loss	(1)
Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	625	555
Unrealized Gain	872	1,021
Unrealized Loss	(25)	(8)
Other investments, at cost	11	11
New Gold Inc. [Member]
Investments (Textuals) [Abstract]
Gain on sale of investments, net	50
New Gold Inc. [Member] | Current [Member]
Investment in Marketable Securities
Cost/Equity Basis		5
Unrealized Gain		54
Fair/Equity Basis - Current Marketable Equity Securities		59
Paladin Energy Ltd [Member]
Investments (Textuals) [Abstract]
Payments to acquire marketable securities	208
Impairment of marketable securities	148
Paladin Energy Ltd [Member] | Current [Member]
Investment in Marketable Securities
Cost/Equity Basis	60
Unrealized Gain	13
Unrealized Loss	0
Fair/Equity Basis - Current Marketable Equity Securities	73
Other Equity Securities [Member]
Investments (Textuals) [Abstract]
Payments to acquire marketable securities	73
Gain on sale of investments, net	14
Impairment of marketable securities	32	1
Other Equity Securities [Member] | Current [Member]
Investment in Marketable Securities
Cost/Equity Basis	15	19
Unrealized Gain	7	35
Unrealized Loss	(1)
Fair/Equity Basis - Current Marketable Equity Securities	21	54
Other Equity Securities [Member] | Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	92	39
Unrealized Gain	16	37
Unrealized Loss	(17)
Fair/Equity Basis - Long-Term Marketable Equity Securities	91	76
Marketable Equity Securities [Member]
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract]
Securities continuous unrealized losses less than 12 months - unrealized losses	18
Securities continuous unrealized losses greater than 12 months - unrealized losses	0
Securities continuous unrealized losses - unrealized losses	18
Available For Sale Securities Continuous Unrealized Loss Position Fair Value Abstract
Securities continuous unrealized losses less than 12 months - fair value	42
Securities continuous unrealized losses greater than 12 months - fair value	0
Securities continuous unrealized losses - fair value	42
Investments (Textuals) [Abstract]
Securities continuous unrealized losses - unrealized losses	18
Marketable Equity Securities [Member] | Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	506	448
Unrealized Gain	871	1,018
Unrealized Loss	(17)
Fair/Equity Basis - Long-Term Marketable Equity Securities	1,360	1,466
Asset Backed Commercial Paper [Member]
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract]
Securities continuous unrealized losses less than 12 months - unrealized losses	0	0
Securities continuous unrealized losses greater than 12 months - unrealized losses	6	6
Securities continuous unrealized losses - unrealized losses	6	6
Available For Sale Securities Continuous Unrealized Loss Position Fair Value Abstract
Securities continuous unrealized losses less than 12 months - fair value	0	0
Securities continuous unrealized losses greater than 12 months - fair value	19	19
Securities continuous unrealized losses - fair value	19	19
Investments (Textuals) [Abstract]
Securities continuous unrealized losses - unrealized losses	6	6
Asset Backed Commercial Paper [Member] | Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	25	25
Unrealized Loss	(6)	(6)
Fair/Equity Basis - Long-Term Marketable Debt Securities	19	19
Auction Rate Securities [Member]
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses [Abstract]
Securities continuous unrealized losses less than 12 months - unrealized losses	0	0
Securities continuous unrealized losses greater than 12 months - unrealized losses	2	2
Securities continuous unrealized losses - unrealized losses	2	2
Available For Sale Securities Continuous Unrealized Loss Position Fair Value Abstract
Securities continuous unrealized losses less than 12 months - fair value	0	0
Securities continuous unrealized losses greater than 12 months - fair value	5	5
Securities continuous unrealized losses - fair value	5	5
Investments (Textuals) [Abstract]
Securities continuous unrealized losses - unrealized losses	2	2
Auction Rate Securities [Member] | Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	7	7
Unrealized Loss	(2)	(2)
Fair/Equity Basis - Long-Term Marketable Debt Securities	5	5
Corporate Debt Securities [Member] | Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	10	7
Unrealized Gain	1	3
Fair/Equity Basis - Long-Term Marketable Debt Securities	11	10
Debt Securities [Member] | Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	42	39
Unrealized Gain	1	3
Unrealized Loss	(8)	(8)
Fair/Equity Basis - Long-Term Marketable Debt Securities	35	34
Canadian Oil Sands Ltd [Member] | Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	302	308
Unrealized Gain	401	508
Fair/Equity Basis - Long-Term Marketable Equity Securities	703	816
Gabriel Resources Ltd [Member] | Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	76	78
Unrealized Gain	236	325
Fair/Equity Basis - Long-Term Marketable Equity Securities	312	403
Regis [Member] | Long Term [Member]
Investment in Marketable Securities
Cost/Equity Basis	36
Unrealized Gain	218
Fair/Equity Basis - Long-Term Marketable Equity Securities	254
La Zanja [Member] | Long Term [Member]
Investment in Marketable Securities
Equity Method Investments	66	57
AGR Matthey Joint Venture [Member]
Investments (Textuals) [Abstract]
Dividends from AGR		14
Gain from AGR dissolution		$ 6

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Stock Based Compensation

12 Months Ended

Dec. 31, 2011

Stock Based Compensation [Abstract]

STOCK BASED COMPENSATION

NOTE 9    STOCK BASED COMPENSATION

The Company has stock incentive plans for executives and eligible employees. Stock incentive awards include options to purchase shares of stock with exercise prices not less than fair market value of the underlying stock at the date of grant, restricted stock units, financial performance stock bonuses and performance leveraged stock units. At December 31, 2011, 8,809,298 shares were available for future stock incentive plan awards.

Employee Stock Options

Stock options granted under the Company's stock incentive plans vest over periods of three years or more and are exercisable over a period of time not to exceed 10 years from the grant date. The value of each option award is estimated at the grant date using the Black-Scholes option pricing model. The Black-Scholes optionpricing model requires the input of subjective assumptions, including the expected term of the option award and stock price volatility. The expected term of options granted is derived from historical data on employee exercise and post-vesting employment termination experience. Expected volatility is based on the historical volatility of our stock at the grant date. These estimates involve inherent uncertainties and the application of management's judgment. In addition, we are required to estimate the expected forfeiture rate and only recognize expense for those options expected to vest. As a result, if other assumptions had been used, our recorded stock based compensation expense would have been different from that reported. The Black-Scholes optionpricing model used the following weighted-average assumptions:

	2011		2010		2009		2008		2007
Weighted-average risk-free interest rate	2.0	%	2.5	%	2.0	%	3.1	%	4.6	%
Dividend yield	1.4	%	0.7	%	1.0	%	1.0	%	1.0	%
Expected life in years	6		5		5		5		5
Volatility	37	%	38	%	36	%	30	%	32	%

	The following table summarizes annual activity for all stock options for each of the three years ended December 31:
		2011				2010				2009
		Number of Shares		Weighted-Average Exercise Price		Number of Shares		Weighted-Average Exercise Price		Number of Shares		Weighted-Average Exercise Price
Outstanding at beginning of year		5,414,205		$	45.36	6,142,073		$	42.65	6,463,004		$	42.17
Granted		1,276,250		$	58.72	918,343		$	55.68	1,157,825		$	39.99
Exercised		(928,037)		$	43.67	(1,494,686)		$	40.38	(1,204,836)		$	36.24
Forfeited and expired		(281,077)		$	56.56	(151,525)		$	51.02	(273,920)		$	50.20
Outstanding at end of year		5,481,341		$	48.40	5,414,205		$	45.36	6,142,073		$	42.65
Options exercisable at year-end		3,166,178		$	46.22	3,211,115		$	45.50	3,880,866		$	44.39
Weighted-average fair value per share
of options granted during the year		$	18.90			$	20.01			$	12.88

	The following table summarizes information about stock options outstanding and exercisable at December 31, 2011:
		Options Outstanding				Options Exercisable
Range of Exercise Prices		Number Outstanding	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price		Number Exercisable	Weighted-Average Exercise Price
$20 to $30		360,723	5.9	$	26.91	60,723	$	26.89
$30 to $40		947,202	6.6	$	39.60	635,585	$	39.43
$40 to $50		1,730,135	4.4	$	44.76	1,729,185	$	44.76
$50 to $60		2,417,490	8.0	$	57.46	740,685	$	57.05
$60+		25,791	9.9	$	67.41	-	$	-
		5,481,341	6.5	$	48.40	3,166,178	$	46.22

At December 31, 2011,there was $26 of unrecognized compensation cost related to 2,315,163 unvested stock options. This cost is expected to be recognized over a weighted-average period of approximately 3 years. The total intrinsic value of options exercised in 2011, 2010 and 2009 was $18, $29 and $16, respectively. At December 31, 2011, the aggregate intrinsic value of outstanding stock options was $64 and the aggregate intrinsic value of exercisable options was $44.

The following stock options vested in each of the three years ended December 31:

	2011		2010		2009
Stock options vested		950,119		922,463		795,566
Weighted-average exercise price	$	46.73	$	42.16	$	46.86

Other Stock Based Compensation

The Company grants restricted stock units to executives and eligible employees upon achievement of certain financial and operating results. Restricted stock units vest over periods of three years or more. Prior to vesting, holders of restricted stock units do not have the right to vote the underlying shares; however, executives accrue dividend equivalents on their restricted stock units, which are paid at the time the restricted stock units vest. The restricted stock units are subject to forfeiture risk and other restrictions. Upon vesting, the employee is entitled to receive one share of the Company's common stock for each restricted stock unit. In 2011, 2010 and 2009, the Company granted 586,944, 483,408 and 450,195 restricted stock units, respectively, at a weighted-average fair market value of $57, $52 and $42, respectively, per underlying share of the Company's common stock. At December 31, 2011, 537,282,250,729 and 99,170 shares remain unvested for the 2011, 2010 and 2009 grants, respectively.

The Company grants financial performance stock bonuses to eligible executives upon achievement of certain financial and operating results, based on a targeted number of shares at the beginning of each performance period. At the end of the performance period, one third of the bonus is paid in common stock and two-thirds of the bonus is paid in restricted stock units that vest in equal annual increments at the second and third anniversaries of the start of the performance period. In 2011 and 2010, the Company granted 42,932 and 64,646 common shares, respectively, and 85,632 and 129,302 restricted stock units, respectively, included in the restricted stock unit grants above at a fair market value of $55 and $50 per underlying share of the Company's common stock, respectively, under the financial performance stock bonus plan.

The Company grants performance leveraged stock units (“PSUs”) to eligible executives, based upon certain measures of shareholder return. In 2011 and 2010, the Company granted102,313 and 204,732, respectively,PSUs at a weighted-average fair market value of $76 and $69, respectively. The actual number of PSUs that vest are determined at the end of a three year performance period (except two initial awards granted in 2010 that were based on a one and two year performance period). At December 31, 2011, 102,313 and 145,601 remained unvested for the 2011 and 2010 PSU grants.

Prior to 2009, the Company granted restricted stock awards to executives and deferred stock awards to eligible employees upon achievement of certain financial and operating results. Shares of restricted stock and deferred stock vest over periods of three years or more from the grant date and are subject to certain restrictions related to ownership and transferability prior to vesting. In 2008, 218,697 shares of restricted stock, were granted at a weighted-average fair market value of $39 per underlying share of the Company's common stock. At December 31, 2011, 100,000 shares remained unvested for the 2008 restricted stock awards. In 2008, the Company granted 394,095 shares of deferred stock, at a weighted-average fair market value of $44 per underlying share of the Company's common stock. At December 31, 2011, no awards shares remained unvested for the 2008 deferred stock awards.

The total intrinsic value of other stock based compensation awards that vested in 2011, 2010 and 2009 was $33, $28 and $19, respectively. At December 31, 2011, there was $35 of unrecognized compensation costs related to the unvested other stock based compensation awards. This cost is expected to be recognized over a weighted-average period of approximately 2years.

The Company recognized stock based compensation as follows:

	Years Ended December 31,
	2011		2010		2009
Stock options	$	19	$	16	$	14
Restricted stock units		27		19		9
Performance leveraged stock units		7		7		-
Restricted stock		1		2		4
Deferred stock		4		8		13
	$	58	$	52	$	40

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Debt (Tables)

12 Months Ended

Dec. 31, 2011

Debt (Tables) [Abstract]

Debt

NOTE ##DebtNote    DEBT
	At December 31, 2011				At December 31, 2010
	Current		Non-Current		Current		Non-Current
Sale-leaseback of refractory ore treatment plant	$	165	$	-	$	30	$	134
8 5/8% debentures, net of discount (due 2011)		-		-		217		-
Corporate revolving credit facility (due 2016)		-		33		-		-
2012 Convertible Senior Notes, net of discount		514		-		-		488
2014 Convertible Senior Notes, net of discount		-		512		-		489
2017 Convertible Senior Notes, net of discount		-		452		-		434
2019 Senior Notes, net of discount		-		896		-		896
2035 Senior Notes, net of discount		-		598		-		598
2039 Senior Notes, net of discount		-		1,087		-		1,087
Ahafo project facility		10		45		10		55
Other capital leases		-		1		2		1
	$	689	$	3,624	$	259	$	4,182

Convertible Debt

	At December 31, 2011						At December 31, 2010
	Convertible Senior Notes Due						Convertible Senior Notes Due
	2012		2014		2017		2012		2014		2017
Additional paid-in capital	$	46	$	97	$	123	$	46	$	97	$	123
Principal amount	$	518	$	575	$	575	$	518	$	575	$	575
Unamortized debt discount		(4)		(63)		(123)		(30)		(86)		(141)
Net carrying amount	$	514	$	512	$	452	$	488	$	489	$	434

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Other Income, Net

12 Months Ended

Dec. 31, 2011

Other Income, Net [Abstract]

OTHER INCOME, NET

NOTE ##OthIncNote    OTHER INCOME, NET
		Years Ended December 31,
		2011		2010		2009
Gain on sale of investments, net		$	64	$	16	$	8
Income from developing projects, net			42		18		4
Canadian Oil Sands			34		55		26
Refinery income			27		14		14
Gain on asset sales, net			17		48		16
Interest income			11		11		16
Foreign currency exchange losses, net			(4)		(64)		(1)
Loss on ineffective portion of derivative
	instruments, net		(17)		(2)		(6)
Impairment of marketable securities			(180)		(1)		(6)
Other			18		14		17
		$	12	$	109	$	88

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Employee Related Benefits

12 Months Ended

Dec. 31, 2011

Employee Related Benefits [Abstract]

EMPLOYEE RELATED BENEFITS

NOTE ##PensionNote EMPLOYEE RELATED BENEFITS
			At December 31,
			2011		2010
	Current:
		Accrued payroll and withholding taxes	$	204	$	189
		Peruvian workers’ participation		42		49
		Employee pension benefits		5		6
		Other post-retirement plans		3		3
		Accrued severance		3		2
		Other employee-related payables		50		39
			$	307	$	288
			At December 31,
			2011		2010
	Long-term:
		Employee pension benefits	$	227	$	127
		Other post-retirement benefit plans		104		92
		Accrued severance		96		73
		Peruvian workers’ participation		17		18
		Other employee-related payables		15		15
			$	459	$	325

Pension and Other Benefit Plans

The Company provides defined benefit pension plans to eligible employees. Benefits are generally based on years of service and the employee's average annual compensation. Various international pension plans are based on local laws and requirements. Pension costs are determined annually by independent actuaries and pension contributions to the qualified plans are made based on funding standards established under the Employee Retirement Income Security Act of 1974, as amended.

The Company sponsors retiree health care plans that provide prescription drug benefits to eligible retirees that our plans' actuaries have determined are actuarially equivalent to Medicare Part D.In 2010, Congress passed certain measures of healthcare reform which changed the tax-free status of Medicare Part D subsidies and eliminated the impact on the post-retirement ABO.

The following tables provide a reconciliation of changes in the plans' benefit obligations and assets' fair values for 2011 and 2010:

		Pension Benefits				Other Benefits
		2011		2010		2011		2010
Change in Benefit Obligation:
	Benefit obligation at beginning of year	$	681	$	580	$	95	$	95
	Service cost		25		21		2		2
	Interest cost		39		36		5		6
	Actuarial (gain) loss		66		68		7		(6)
	Amendments		-		2		-		-
	Foreign currency exchange loss		-		2		-		-
	Settlement payments		(14)		(1)		-		-
	Benefits paid		(25)		(27)		(2)		(2)
	Projected benefit obligation at end of year	$	772	$	681		N/A		N/A
Accumulated Benefit Obligation		$	554	$	543	$	107	$	95
Change in Fair Value of Assets:
	Fair value of assets at beginning of year	$	559	$	372	$	-	$	-
	Actual return on plan assets		(7)		53		-		-
	Employer contributions		27		161		2		2
	Foreign currency exchange gain		-		1		-		-
	Settlement payments		(14)		(1)		-		-
	Benefits paid		(25)		(27)		(2)		(2)
	Fair value of assets at end of year	$	540	$	559	$	-	$	-
	Unfunded status, net	$	232	$	122	$	107	$	95

The Company's qualified pension plans are funded with cash contributions in compliance with Internal Revenue Service (“IRS”) rules and regulations. The Company's non-qualified and other benefit plans are currently not funded, but exist as general corporate obligations. The information contained in the above tables presents the combined funded status of qualified and non-qualified plans. The Company is currently planning to contribute at least $35 to its retirement benefit programs in 2012.

The following table provides the net amounts recognized in the Consolidated Balance Sheets at December 31:

		Pension Benefits				Other Benefits
		2011		2010		2011		2010
Accrued employee benefit liability		$	232	$	122	$	107	$	95
Accumulated other comprehensive income (loss):
	Net actuarial gain (loss)	$	(349)	$	(263)	$	6	$	12
	Prior service credit (cost)		(7)		(8)		4		5
			(356)		(271)		10		17
	Less: Income taxes		125		95		(4)		(6)
		$	(231)	$	(176)	$	6	$	11

The following table provides components of the net periodic pension and other benefits costs for the years ended December 31:

	Pension Benefit Costs						Other Benefit Costs
	2011		2010		2009		2011		2010		2009
Service cost	$	25	$	21	$	18	$	2	$	2	$	2
Interest cost		39		36		32		5		6		5
Expected return on plan assets		(42)		(32)		(29)		-		-		-
Amortization, net		26		17		16		(1)		(1)		(1)
	$	48	$	42	$	37	$	6	$	7	$	6

The following table provides the components recognized in Other comprehensive income (loss) for the years ended December 31:

		Pension Benefits						Other Benefits
		2011		2010		2009		2011		2010		2009
Net gain (loss)		$	(111)	$	(41)	$	7	$	(6)	$	5	$	(1)
Amortization, net			26		17		16		(1)		(1)		(1)
	Total recognized in Other comprehensive income (loss)	$	(85)	$	(24)	$	23	$	(7)	$	4	$	(2)
	Total recognized in net periodic benefit cost and Other comprehensive income (loss)	$	(133)	$	(66)	$	(14)	$	(13)	$	(3)	$	(7)

The expected recognition of amounts in Accumulated other comprehensive income is $25and $1 for net actuarial loss and prior service cost for pension benefits in 2012, respectively, and $nil and $1 for net actuarial gain and prior service credit for other benefits in 2012, respectively.

Significant assumptions were as follows:
			Pension Benefits				Other Benefits
			At December 31,				At December 31,
			2011		2010		2011		2010
	Weighted-average assumptions used in measuring the Company’s benefit obligation:
		Discount rate	5.35	%	5.75	%	5.35	%	5.75	%
		Rate of compensation increase	5.00	%	5.00	%	5.00	%	5.00	%

		Pension Benefits						Other Benefits
		Years Ended December 31,						Years Ended December 31,
		2011		2010		2009		2011		2010		2009
Weighted-average assumptions used in measuring the net periodic pension benefit cost:
	Discount long-term rate	5.75	%	6.10	%	6.05	%	5.75	%	6.10	%	6.05	%
	Expected return on plan assets	8.00	%	8.00	%	8.00	%	N/A		N/A		N/A
	Rate of compensation increase	5.00	%	5.00	%	5.00	%	5.00	%	5.00	%	5.00	%

Yield curves matching our benefit obligations were derived using a model based on high quality corporate bond data from Bloomberg.The model develops a discount rate by selecting a portfolio of high quality corporate bonds whose projected cash flows match the projected benefit payments of the plan.The resulting curves were used to identify a discount rate for the Company of 5.35% and 5.75% at December 31, 2011 and 2010, respectively, based on the timing of future benefit payments. The decision to use 8% as the expected long-term return on plan assets for the three years ended December 2011 was made based on an analysis of the actual plan asset returns over multiple time horizons and other comparable U.S. corporations. At December 31, 2011, Newmont decreased the expected long term return on plan assets to 7.75% in estimating its benefit obligation, which will be used in determining future net periodic benefit cost.The decrease in the rate is a result of considering the most recent capital market forecasts and the plans' current allocation as well as the actual return on plan assets underperforming as compared to the expected return on assets in the last 5 years. The average actual return on plan assets during the 23 years ended December 31, 2011 approximated 8%.

The pension plans employ several independent investment firms which invest the assets of the plans in certain approved funds that correspond to specific asset classes with associated target allocations. The goal of the pension fund investment program is to achieve prudent actuarial funding ratios while maintaining acceptable risk levels. The investment performance of the plans and that of the individual investment firms is measured against recognized market indices. The performance of the pension fundsare monitored by an investment committee comprised of members of the Company's management, which is advised by an independent investment consultant. With the exception of global capital market economic risks, the Company has identified no significant portfolio risks associated to asset classes. The following is a summary of the target asset allocations for 2011 and the actual asset allocation at December 31, 2011.

			Actual at
			December 31,
Asset Allocation	Target		2011
U.S. equity investments	33	%	35	%
International equity investments	24	%	24	%
Fixed income investments	35	%	33	%
Other	8	%	8	%

The following table sets forth the Company's pension plan assets measured at fair value by level within the fair value hierarchy. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

		Fair Value at December 31, 2011
		Level 1		Level 2		Level 3		Total
Plan Assets:
	Cash and cash equivalents	$	1	$	-	$	-	$	1
	Commingled funds		-		539		-		539
		$	1	$	539	$	-	$	540
		Fair Value at December 31, 2010
		Level 1		Level 2		Level 3		Total
Plan Assets:
	Cash and cash equivalents	$	2	$	-	$	-	$	2
	Commingled funds		-		557		-		557
		$	2	$	557	$	-	$	559

The pension plans' cash and cash equivalents are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash equivalent instruments that are valued based on quoted market prices in active markets are primarily money market securities and U.S. Treasury securities.

The pension plans' commingled fund investments are classified within Level 2. The funds are managed by several fund managers and are valued at the net asset value per share for each fund. Although the majority of underlying assets in the funds consist of actively traded equity securities and bonds, the unit of account is considered to be at the fund level, and therefore, the investments are classified as Level 2. At December 31, 2011, the underlying assets of the commingled funds consist of U.S. equity investments (35%), international equity investments (24%), fixed income investments (33%), and other investments (8%).

The assumed health care cost trend rate to measure the expected cost of benefits was 8.00% for 2012, 7.50% for 2013, 7.00% for 2014, 6.50% for 2015,6.00% for 2016 and approximately 5.00% for each year thereafter. Assumed health care cost trend rates have a significant effect on amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects:

	One-percentage-point		One-percentage-point
	Increase		Decrease
Effect on total of service and interest cost components of net periodic post-retirement health care benefit cost	$	1	$	(1)
Effect on the health care component of the accumulated post-retirement benefit obligation	$	17	$	(14)

Cash Flows

Benefit payments expected to be paid are as follows: $25 in 2012, $27 in 2013, $33 in 2014, $40 in 2015, $37 in 2016, and $268 in total over the five years from 2017 through 2021. Benefit payments made to other benefit plan participants are expected to be as follows: $4 in 2012, $4 in 2013, $4 in 2014, $5 in 2015, $5 in 2016, and $32 in total over the five years from 2017 through 2021.

Savings Plans

The Company has two qualified defined contribution savings plans, one that covers salaried and non-union hourly employees and one that covers substantially all hourly union employees. In addition, the Company has one non-qualified supplemental savings plan for salaried employees whose benefits under the qualified plan are limited by federal regulations. When an employee meets eligibility requirements, the Company matches 100% of employee contributions of up to 6% of base salary for the salaried and hourly union plans. The Company makes a contribution between 5.0% and 7.5% (based on continuous years of service) to each non-union hourly employee's retirement contribution account at its sole discretion. Matching contributions are made with Newmont stock; however, no holding restrictions are placed on such contributions, which totaled $17 in 2011, $15in 2010, and $15 in 2009.

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Income and Mining Taxes

12 Months Ended

Dec. 31, 2011

Income and Mining Taxes Disclosure [Abstract]

INCOME TAXES

NOTE 10    INCOMEAND MINING TAXES

The Company's Income and mining tax expenseconsisted of:

		Years Ended December 31,
		2011		2010		2009
Current:
	United States	$	(346)	$	(214)	$	(46)
	Foreign		(1,038)		(1,022)		(782)
			(1,384)		(1,236)		(828)
Deferred:
	United States		185		518		42
	Foreign		486		(138)		(43)
			671		380		(1)
		$	(713)	$	(856)	$	(829)

The Company's Income before income and mining tax and other items consisted of:

	Years Ended December 31,
	2011		2010		2009
United States	$	878	$	737	$	291
Foreign		932		3,260		2,663
	$	1,810	$	3,997	$	2,954

The Company's income and mining tax expense differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:

			Years Ended December 31,
			2011			2010			2009
Income before income and mining tax and other items			$	1,810		$	3,997		$	2,954
United States statutory corporate income tax rate				35	%		35	%		35	%
Income tax expense computed at United States statutory corporate income tax rate				(634)			(1,399)			(1,034)
Reconciling items:
	Tax benefit generated on change in form of a non-			65			440			-
		U.S. subsidiary
	Percentage depletion			172			151			127
	Change in valuation allowance on deferred tax assets			(263)			18			32
	Mining taxes (net of federal benefit)			(42)			(33)			(27)
	Other			(11)			(33)			73
Income and mining tax expense			$	(713)		$	(856)		$	(829)

		Components of the Company's deferred income tax assets (liabilities) are as follows:
			At December 31,
			2011		2010
Deferred income tax assets:
	Property, plant and mine development		$	689	$	158
	Reclamation and remediation			226		193
	Net operating losses, capital losses and tax credits			1,054		1,275
	Investment in partnerships			203		563
	Employee-related benefits			15		49
	Derivative instruments and unrealized loss on investments			308		60
	Other			8		44
				2,503		2,342
	Valuation allowances			(977)		(435)
				1,526		1,907
Deferred income tax liabilities:
	Property, plant and mine development			(1,362)		(1,370)
	Net undistributed earnings of subsidiaries			(198)		(237)
	Derivative instruments and unrealized gain on investments			(69)		(160)
	Other			(93)		(68)
				(1,722)		(1,835)
Net deferred income tax assets (liabilities)			$	(196)	$	72

	Net deferred income tax assets and liabilities consist of:
		At December 31,
		2011		2010
Current deferred income tax assets		$	396	$	177
Long-term deferred income tax assets			1,605		1,437
Current deferred income tax liabilities			(50)		(54)
Long-term deferred income tax liabilities			(2,147)		(1,488)
		$	(196)	$	72

Company's Unrecognized Tax Benefits

At December 31, 2011, 2010 and 2009,

		2011		2010		2009
Total amount of gross unrecognized tax benefits at
	beginning of year	$	116	$	130	$	181
Additions for tax positions of prior years			160		3		(21)
Additions for tax positions of current year			64		-		3
Reductions due to settlements with taxing authorities			-		(9)		(27)
Reductions due to lapse of statute of limitations			(4)		(8)		(6)
Total amount of gross unrecognized tax benefits at end of
	year	$	336	$	116	$	130

At December 31, 2011, 2010 and 2009, $137, $45 and $63, respectively, represent the amount of unrecognized tax benefits that, if recognized, would impact the Company's effective income tax rate.

The Company operates in numerous countries around the world and accordingly it is subject to, and pays annual income taxes under, the various income tax regimes in the countries in which it operates. Some of these tax regimes are defined by contractual agreements with the local government, and others are defined by the general corporate income tax laws of the country. The Company has historically filed, and continues to file, all required income tax returns and paid the taxes reasonably determined to be due. The tax rules and regulations in many countries are highly complex and subject to interpretation. From time to time, the Company is subject to a review of its historic income tax filings and in connection with such reviews, disputes can arise with the taxing authorities over the interpretation or application of certain rules to the Company's business conducted within the country involved.

On April 27, 2009, the United States Tax Court issued a decision in favor of Santa Fe, with respect to the $65 million Homestake break-up fee deducted by Santa Fe in tax year 1997. Following procedural rules, the Internal Revenue Service was given 90 days from the date the decision was entered in which to file an appeal. The entry of decision was made on July 16, 2009. The Internal Revenue Service did not file an appeal, and as a result, as of October 15, 2009 the decision stands. The result of this decision resulted in overpayments for each of the tax years 1994 through 1997. The Company has adjusted the unrecognized tax benefits accordingly.

In 2010, PTNNT, the Company's partially owned subsidiary in Indonesia, received a final tax assessment from the Indonesian Tax Office. Although required to pay $132 (of which, $119 related to corporate income tax matters) of tax and penalties upon receipt of the tax assessment, PTNNT intends to vigorously defend its positions through all processes available to it. PTNNT believes it is more likely than not that they will prevail based on prior experience and therefore recorded a corresponding receivable in the third quarter of 2010.

During the year, the U.S. Internal Revenue Service issued a Technical Advice Memorandum (“TAM”) to the Company regarding the U.S. income tax treatment of the Price Capped Forward Sales Contracts settled in cash in 2007. The TAM provides guidance which is unfavorable to the Company. The Company intends to vigorously defend its positions through all processes available to it and believes it should prevail.

The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. Federal, state and local, and non-U.S. income tax examinations by tax authorities for years before 2005. As a result of (i) statute of limitations that will begin to expire within the next 12 months in various jurisdictions, and (ii) possible settlements of audit-related issues with taxing authorities in various jurisdictions with respect to which none of the issues are individually significant, the Company believes that it is reasonably possible that the total amount of its net unrecognized income tax benefits will decrease between $25 to $30 in the next 12 months.

The Company's continuing practice is to recognize interest and/or penalties related to unrecognized tax benefits as part of its income and mining tax expense. At December 31, 2011 and 2010, the total amount of accrued income-tax-related interest and penalties included in the Consolidated Balance Sheets was $11 and $10, respectively. During 2011, the Company recorded through the Statements of Consolidated Income an additional $1 of interest and penalties. During 2010, the Company released through the Statements of Consolidated Income an additional $4 of interest and penalties. During 2009, the Company accrued through the Statements of Consolidated Income an additional $9 of interest and penalties.

Tax Loss Carryforwards, Foreign Tax Credits, and AMT Credits

At December 31, 2011 and 2010, the Company had (i) $1,051 and $1,220 of net operating loss carry forwards, respectively; and (ii) $259 and $168 of tax credit carry forwards, respectively. At December 31, 2011 and 2010, $315 and $857, respectively, of net operating loss carry forwards are attributable to operations in Australia, Ghana and France for which current tax law provides no expiration period. The remaining net operating loss carryforwards expire at various dates through 2030. Valuation allowances have been recorded on net operating loss carryforwards where the Company believes based on the available evidence it is more likely than not that the net operating losses will not be realized.

Tax credit carry forwards for 2011 and 2010 of $155 and $53 consist of foreign tax credits available in the United States; substantially all such credits not utilized will expire at the end of 2018. Other credit carry forwards at the end of 2011 and 2010 in the amounts of $104 and $115, respectively, represent alternative minimum tax credits attributable to the Company's U.S. operations for which the current tax law provides no period of expiration.

Differences in tax rates and other foreign income tax law variations make the ability to fully utilize all available foreign income tax credits on a year-by-year basis highly dependent on the price of the gold and copper produced by the Company and the costs of production, since lower prices or higher costs can result in having insufficient sources of taxable income in the United States to utilize all available foreign tax credits. Such credits have limited carry back and carry forward periods and can only be used to reduce the United States income tax imposed on foreign earnings included in the annual United States consolidated income tax return.

Other

Newmont intends to indefinitely reinvest earnings from certain foreign operations. Accordingly, U.S. and non-U.S. income and withholding taxes for which deferred taxes might otherwise be required, have not been provided on a cumulative amount of temporary differences (including, for this purpose, any difference between the tax basis in the stock of a consolidated subsidiary and the amount of the subsidiary's net equity determined for financial reporting purposes) related to investments in foreign subsidiaries of approximately $8 and $7 at December 31, 2011 and 2010, respectively.

XML

Net Change in Operating Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2011

Net Change in Operating Assets and Liabilities (Tables) [Abstract]

Net Changes in Operating Assets and Liabilities

		Years Ended December 31,
		2011		2010		2009
Decrease (increase) in operating assets:
	Trade and accounts receivable	$	52	$	(153)	$	42
	Inventories, stockpiles and ore on leach pads		(495)		(501)		(378)
	EGR refinery assets		(266)		116		(508)
	Other assets		(51)		(87)		(19)
Increase (decrease) in operating liabilities:
	Accounts payable and other accrued liabilities		226		38		177
	EGR refinery liabilities		266		(116)		508
	Reclamation liabilities		(43)		(51)		(49)
		$	(311)	$	(754)	$	(227)

XML

Inventories (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Summary of Inventories
In-process	$ 159	$ 142
Concentrate	116	111
Precious metals	12	4
Materials, supplies and other	427	401
Total Inventories	$ 714	$ 658

XML

Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2011

Condensed Consolidating Financial Statements (Tables) [Abstract]

Condensed Consolidating Statement of Income

			For the Year Ended December 31, 2011
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Income			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales			$	-	$	6,610	$	3,748	$	-	$	10,358
Costs and expenses
	Costs applicable to sales (1)			-		2,358		1,570		(38)		3,890
	Amortization			-		651		386		(1)		1,036
	Reclamation and remediation			-		69		51		-		120
	Exploration			-		180		170		-		350
	Advanced projects, research and development			-		183		191		(1)		373
	General and administrative			-		156		2		40		198
	Write-down of property, plant and mine
		development		-		4		2,080		-		2,084
	Other expense, net			-		166		99		-		265
				-		3,767		4,549		-		8,316
Other income (expense)
	Other income, net			(179)		115		76		-		12
	Interest income - intercompany			152		7		16		(175)		-
	Interest expense - intercompany			(19)		-		(156)		175		-
	Interest expense, net			(219)		(16)		(9)		-		(244)
				(265)		106		(73)		-		(232)
Income before income and mining tax and other items				(265)		2,949		(874)		-		1,810
Income and mining tax expense				199		(1,033)		121		-		(713)
Equity income (loss) of affiliates				432		(19)		283		(685)		11
Income from continuing operations				366		1,897		(470)		(685)		1,108
Loss from discontinued operations				-		7		(143)		-		(136)
Net income				366		1,904		(613)		(685)		972
Net income attributable to noncontrolling interests				-		(697)		(21)		112		(606)
Net income attributable to Newmont stockholders			$	366	$	1,207	$	(634)	$	(573)	$	366

			For the Year Ended December 31, 2010
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Income			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales			$	-	$	6,568	$	2,972	$	-	$	9,540
Costs and expenses
	Costs applicable to sales (1)			-		2,171		1,341		(28)		3,484
	Amortization			-		601		345		(1)		945
	Reclamation and remediation			-		48		17		-		65
	Exploration			-		131		87		-		218
	Advanced projects, research and development			-		110		107		(1)		216
	General and administrative			-		144		4		30		178
	Write-down of property, plant and mine
		development		-		5		1		-		6
	Other expense, net			-		183		78		-		261
				-		3,393		1,980		-		5,373
Other income (expense)
	Other income, net			(4)		29		84		-		109
	Interest income - intercompany			161		7		5		(173)		-
	Interest expense - intercompany			(11)		-		(162)		173		-
	Interest expense, net			(246)		(27)		(6)		-		(279)
				(100)		9		(79)		-		(170)
Income before income and mining tax and other items				(100)		3,184		913		-		3,997
Income and mining tax expense				479		(1,114)		(221)		-		(856)
Equity income (loss) of affiliates				1,926		2		281		(2,206)		3
Income from continuing operations				2,305		2,072		973		(2,206)		3,144
Loss from discontinued operations				(28)		2		(30)		28		(28)
Net income				2,277		2,074		943		(2,178)		3,116
Net income attributable to noncontrolling interests				-		(1,026)		34		153		(839)
Net income attributable to Newmont stockholders			$	2,277	$	1,048	$	977	$	(2,025)	$	2,277

			For the Year Ended December 31, 2009
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Income			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales			$	-	$	5,911	$	1,794	$	-	$	7,705
Costs and expenses
	Costs applicable to sales (1)			-		2,128		903		(23)		3,008
	Amortization			-		565		242		(1)		806
	Reclamation and remediation			-		41		18		-		59
	Exploration			-		101		86		-		187
	Advanced projects, research and development			-		66		71		(2)		135
	General and administrative			-		129		4		26		159
	Write-down of property, plant and mine
		development		-		6		1		-		7
	Other expense, net			9		160		189		-		358
				9		3,196		1,514		-		4,719
Other income (expense)
	Other income, net			(11)		27		72		-		88
	Interest income - intercompany			90		7		5		(102)		-
	Interest expense - intercompany			(9)		-		(93)		102		-
	Interest expense, net			(65)		(47)		(8)		-		(120)
				5		(13)		(24)		-		(32)
Income before income and mining tax and other items				(4)		2,702		256		-		2,954
Income and mining tax expense				1		(781)		(49)		-		(829)
Equity income (loss) of affiliates				1,316		5		185		(1,522)		(16)
Income from continuing operations				1,313		1,926		392		(1,522)		2,109
Loss from discontinued operations				(16)		(16)		-		16		(16)
Net income				1,297		1,910		392		(1,506)		2,093
Net income attributable to noncontrolling interests				-		(795)		(77)		76		(796)
Net income attributable to Newmont stockholders			$	1,297	$	1,115	$	315	$	(1,430)	$	1,297

Condensed Consolidating Statement of Cash Flows

		For the Year Ended December 31, 2011
										Newmont
		Newmont								Mining
		Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows		Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
	Net income	$	366	$	1,904	$	(613)	$	(685)	$	972
	Adjustments		131		624		1,490		685		2,930
	Net change in operating assets and liabilities		(102)		(18)		(191)		-		(311)
Net cash provided from (used in) continuing operations			395		2,510		686		-		3,591
Net cash used in discontinued operations			-		-		(7)		-		(7)
Net cash provided from (used in) operations			395		2,510		679		-		3,584
Investing activities:
	Additions to property, plant and mine development		-		(1,853)		(934)		-		(2,787)
	Acquisitions, net		-		-		(2,309)		-		(2,309)
	Proceeds from sale of marketable securities		-		65		16		-		81
	Purchases of marketable securities		-		(3)		(18)		-		(21)
	Proceeds from sale of other assets		-		(55)		64		-		9
	Other		-		-		(40)		-		(40)
Net cash used in investing activities			-		(1,846)		(3,221)		-		(5,067)
Financing activities:
	Net borrowings (repayments)		26		(278)		(10)		-		(262)
	Net intercompany borrowings (repayments)		33		(2,559)		2,560		(34)		-
	Proceeds from stock issuance, net		40		-		-		-		40
	Dividends paid to noncontrolling interests		-		(151)		-		34		(117)
	Dividends paid to common stockholders		(494)		-		-		-		(494)
	Other		-		(24)		3		-		(21)
Net cash provided from (used in) financing activities			(395)		(3,012)		2,553		-		(854)
Effect of exchange rate changes on cash			-		(3)		44		-		41
Net change in cash and cash equivalents			-		(2,351)		55		-		(2,296)
Cash and cash equivalents at beginning of period			-		3,877		179		-		4,056
Cash and cash equivalents at end of period		$	-	$	1,526	$	234	$	-	$	1,760

		For the Year Ended December 31, 2010
										Newmont
		Newmont								Mining
		Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows		Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
	Net income (loss)	$	2,277	$	2,074	$	943	$	(2,178)	$	3,116
	Adjustments		(600)		865		(1,625)		2,178		818
	Net change in operating assets and liabilities		(57)		(512)		(185)		-		(754)
Net cash provided from (used in) continuing operations			1,620		2,427		(867)		-		3,180
Net cash used in discontinued operations			-		(13)		-		-		(13)
Net cash provided from (used in) operations			1,620		2,414		(867)		-		3,167
Investing activities:
	Additions to property, plant and mine development		-		(721)		(681)		-		(1,402)
	Acquisitions, net		-		-		(4)		-		(4)
	Proceeds from sale of marketable securities		-		-		3		-		3
	Purchases of marketable securities		-		(5)		(23)		-		(28)
	Proceeds from sale of other assets		-		16		40		-		56
	Other		-		-		(44)		-		(44)
Net cash used in investing activities			-		(710)		(709)		-		(1,419)
Financing activities:
	Net repayments		-		(420)		(10)		-		(430)
	Net intercompany borrowings (repayments)		(1,442)		(152)		1,730		(136)		-
	Proceeds from stock issuance, net		60		-		-		-		60
	Sale of noncontrolling interests		-		229		-		-		229
	Acquisition of noncontrolling interests		-		-		(110)		-		(110)
	Dividends paid to noncontrolling interests		-		(598)		-		136		(462)
	Dividends paid to common stockholders		(246)		-		-		-		(246)
	Other		-		46		(2)		-		44
Net cash provided from (used in) financing activities			(1,628)		(895)		1,608		-		(915)
Effect of exchange rate changes on cash			-		1		7		-		8
Net change in cash and cash equivalents			(8)		810		39		-		841
Cash and cash equivalents at beginning of period			8		3,067		140		-		3,215
Cash and cash equivalents at end of period		$	-	$	3,877	$	179	$	-	$	4,056

			For the Year Ended December 31, 2009
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
		Net income (loss)	$	1,297	$	1,910	$	392	$	(1,506)	$	2,093
		Adjustments		75		683		(1,216)		1,506		1,048
		Net change in operating assets and liabilities		135		(400)		38		-		(227)
Net cash provided from (used in) continuing operations				1,507		2,193		(786)		-		2,914
Net cash provided from discontinued operations				-		33		-		-		33
Net cash provided from (used in) operations				1,507		2,226		(786)		-		2,947
Investing activities:
		Additions to property, plant and mine development		-		(470)		(1,299)		-		(1,769)
		Acquisitions, net		(8)		(11)		(988)		-		(1,007)
		Proceeds from sale of marketable securities		-		-		17		-		17
		Purchases of marketable securities		-		-		(5)		-		(5)
		Proceeds from sale of other assets		-		15		3		-		18
		Other		-		-		(35)		-		(35)
Net cash used in investing activities				(8)		(466)		(2,307)		-		(2,781)
Financing activities:
		Net borrowings (repayments)		1,722		(154)		-		-		1,568
		Net intercompany borrowings (repayments)		(4,298)		953		3,345		-		-
		Proceeds from stock issuance, net		1,278		-		-		-		1,278
		Sale of noncontrolling interests		-		638		-		-		638
		Acquisition of noncontrolling interests		-		-		(287)		-		(287)
		Dividends paid to noncontrolling interests		-		(391)		(3)		-		(394)
		Dividends paid to common stockholders		(196)		-		-		-		(196)
		Other		2		(48)		11		-		(35)
Net cash provided from (used in) financing activities of
	continuing operations			(1,492)		998		3,066		-		2,572
Net cash used in financing activities of discontinued
	operations			-		(2)		-		-		(2)
Net cash provided from (used in) financing activities				(1,492)		996		3,066		-		2,570
Effect of exchange rate changes on cash				1		1		42		-		44
Net change in cash and cash equivalents				8		2,757		15		-		2,780
Cash and cash equivalents at beginning of period				-		310		125		-		435
Cash and cash equivalents at end of period			$	8	$	3,067	$	140	$	-	$	3,215

Condensed Consolidating Balance Sheet

			At December 31, 2011
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets
	Cash and cash equivalents		$	-	$	1,526	$	234	$	-	$	1,760
	Trade receivables			-		205		95		-		300
	Accounts receivable			1,415		3,447		264		(4,806)		320
	Investments			72		-		22		-		94
	Inventories			-		333		381		-		714
	Stockpiles and ore on leach pads			-		532		139		-		671
	Deferred income tax assets			134		257		5		-		396
	Other current assets			-		91		1,042		-		1,133
		Current assets		1,621		6,391		2,182		(4,806)		5,388
	Property, plant and mine development, net			-		6,917		8,990		(26)		15,881
	Investments			-		29		1,443		-		1,472
	Investments in subsidiaries			14,675		43		2,825		(17,543)		-
	Stockpiles and ore on leach pads			-		1,641		630		-		2,271
	Deferred income tax assets			708		838		59		-		1,605
	Other long-term assets			3,423		641		927		(4,134)		857
		Total assets	$	20,427	$	16,500	$	17,056	$	(26,509)	$	27,474
Liabilities
	Debt		$	514	$	165	$	10	$	-	$	689
	Accounts payable			2,698		1,327		1,343		(4,807)		561
	Employee-related benefits			-		222		85		-		307
	Income and mining taxes			-		45		205		-		250
	Other current liabilities			450		459		3,186		(1,962)		2,133
		Current liabilities		3,662		2,218		4,829		(6,769)		3,940
	Debt			3,578		1		45		-		3,624
	Reclamation and remediation liabilities			-		809		360		-		1,169
	Deferred income tax liabilities			-		732		1,415		-		2,147
	Employee-related benefits			5		355		99		-		459
	Other long-term liabilities			567		61		3,895		(4,159)		364
		Total liabilities		7,812		4,176		10,643		(10,928)		11,703
Equity
	Preferred stock			-		-		61		(61)		-
	Common stock			784		-		-		-		784
	Additional paid-in capital			8,127		3,050		5,702		(8,471)		8,408
	Accumulated other comprehensive income			652		(189)		1,168		(979)		652
	Retained earnings			3,052		6,055		(1,744)		(4,311)		3,052
	Newmont stockholders’ equity			12,615		8,916		5,187		(13,822)		12,896
	Noncontrolling interests			-		3,408		1,226		(1,759)		2,875
		Total equity		12,615		12,324		6,413		(15,581)		15,771
		Total liabilities and equity	$	20,427	$	16,500	$	17,056	$	(26,509)	$	27,474

			At December 31, 2010
											Newmont
			Newmont								Mining
			Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet			Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets
	Cash and cash equivalents		$	-	$	3,877	$	179	$	-	$	4,056
	Trade receivables			-		501		81		-		582
	Accounts receivable			2,222		802		265		(3,201)		88
	Investments			-		72		41		-		113
	Inventories			-		388		270		-		658
	Stockpiles and ore on leach pads			-		513		104		-		617
	Deferred income tax assets			-		170		7		-		177
	Other current assets			-		77		885		-		962
		Current assets		2,222		6,400		1,832		(3,201)		7,253
	Property, plant and mine development, net			-		5,364		7,562		(19)		12,907
	Investments			-		25		1,543		-		1,568
	Investments in subsidiaries			12,295		35		1,909		(14,239)		-
	Stockpiles and ore on leach pads			-		1,347		410		-		1,757
	Deferred income tax assets			638		690		109		-		1,437
	Other long-term assets			2,675		496		584		(3,014)		741
		Total assets	$	17,830	$	14,357	$	13,949	$	(20,473)	$	25,663
Liabilities
	Debt		$	-	$	249	$	10	$	-	$	259
	Accounts payable			355		1,269		1,996		(3,193)		427
	Employee-related benefits			-		222		66		-		288
	Income and mining taxes			19		261		75		-		355
	Other current liabilities			56		373		2,959		(1,970)		1,418
		Current liabilities		430		2,374		5,106		(5,163)		2,747
	Debt			3,991		135		56		-		4,182
	Reclamation and remediation liabilities			-		676		308		-		984
	Deferred income tax liabilities			-		513		975		-		1,488
	Employee-related benefits			5		244		76		-		325
	Other long-term liabilities			375		56		2,824		(3,034)		221
		Total liabilities		4,801		3,998		9,345		(8,197)		9,947
Equity
	Preferred stock			-		-		61		(61)		-
	Common stock			778		-		-		-		778
	Additional paid-in capital			7,963		2,722		3,894		(6,300)		8,279
	Accumulated other comprehensive income			1,108		(75)		1,180		(1,105)		1,108
	Retained earnings			3,180		4,850		(1,109)		(3,741)		3,180
	Newmont stockholders’ equity			13,029		7,497		4,026		(11,207)		13,345
	Noncontrolling interests			-		2,862		578		(1,069)		2,371
		Total equity		13,029		10,359		4,604		(12,276)		15,716
		Total liabilities and equity	$	17,830	$	14,357	$	13,949	$	(20,473)	$	25,663

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Related Party Transaction (Tables)

12 Months Ended

Dec. 31, 2011

Related Party Transactions (Tables) [Abstract]

Related Party Transactions

NOTE ##RelPtyNote    RELATED PARTY TRANSACTIONS
	Newmont had transactions with AGR in 2010 and 2009.
		Years Ended December 31,
		2011		2010		2009
Gold and silver sales		$	-	$	3	$	10
Refining fees paid		$	-	$	-	$	3

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Related Party Transactions (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Related Party Transactions (Details) [Abstract]
Gold and silver sales	$ 0	$ 3	$ 10
Refining fees paid	$ 0	$ 0	$ 3

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Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2011

Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

NOTE ##SuppCFNote    SUPPLEMENTAL CASH FLOW INFORMATION
	Years Ended December 31,
	2011		2010		2009
Income and mining taxes, net of refunds	$	1,526	$	1,185	$	431
Pension plan and other benefit contributions	$	29	$	163	$	58
Interest, net of amounts capitalized	$	216	$	228	$	117

Noncash Investing Activities and Financing Activities

Noncash Investing Activities and Financing Activities

Newmont sold a royalty interest in exchange for 4 million shares of Regis Resources which resulted in non-cash increases to Investments of $12 in 2011.

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Net Income attributable to Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2011

Net Income attributable to Noncontrolling Interest (Tables) [Abstract]

Disclosure of net Income attributable to Noncontrolling Interest

NOTE ##NCINote    NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
		Years Ended December 31,
		2011		2010		2009
	Yanacocha	$	326	$	292	$	354
	Batu Hijau		287		549		445
	Other		(7)		(2)		(3)
		$	606	$	839	$	796

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Acquisitions

12 Months Ended

Dec. 31, 2011

Business Combination Disclosure [Abstract]

ACQUISITIONS

NOTE 15    ACQUISITIONS

On April 6, 2011, Newmont acquired all of the outstanding common shares of Fronteer Gold Inc. (“Fronteer”). Pursuant to the terms of the acquisition, shareholders of Fronteer received C$14.00 in cash and one-fourth of a common share in Pilot Gold, which retained certain exploration assets of Fronteer, for each common share of Fronteer. Newmont completed the acquisition to acquire, among other assets, the exploration stage LongCanyon project, which is located approximately one hundred miles from the Company's existing infrastructure in Nevada and provides the potential for significant development and operating synergies.

In connection with the acquisition, Newmont incurred transaction costs of $22, which were recorded in Other Expense, net.

The Fronteer purchase price allocation was based on the estimated fair values of assets acquired and liabilities assumed as follows:

The pro forma impact of the acquisition on Net Income was not material as Fronteer was not in production.

On June 25, 2009 the Company completed the acquisition of the remaining 33.33% interest in Boddington from AngloGold Ashanti Australia Limited (“AngloGold”). Consideration for the acquisition consisted of $982 and a contingent royalty capped at $100, equal to 50% of the average realized operating margin (Revenue less Costs applicable to sales on a by-product basis), if any, exceeding $600 per ounce, payable quarterly beginning in the second quarter of 2010 on one-third of gold sales from Boddington. At the acquisition date, the Company estimated the fair value of the contingent consideration at $62. In connection with the acquisition, the Company incurred $67 of transaction costs in 2009 of which $15 of these costs were paid at December 31, 2011.

At December 31, 2011 and 2010, the estimated fair value of the unpaid contingent consideration was approximately $54 and $83, respectively. Changes to the estimated fair value resulting from periodic revaluations are recorded to Other expense, net. During 2011 and 2010, the Company paid $30 and $4, respectively, related to the contingent consideration. The range of remaining undiscounted amounts the Company could pay is between $0 and $66.

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Stockpiles and Ore on Leach Pads

12 Months Ended

Dec. 31, 2011

Stockpiles And Ore On Leach Pad [Abstract]

STOCKPILES AND ORE ON LEACH PADS

NOTE ##StockpilesNote    STOCKPILES AND ORE ON LEACH PADS
			At December 31,
			2011		2010
	Current:
		Stockpiles	$	506	$	389
		Ore on leach pads		165		228
			$	671	$	617
	Long-term:
		Stockpiles	$	1,904	$	1,397
		Ore on leach pads		367		360
			$	2,271	$	1,757

		At December 31,
		2011		2010
Stockpiles and ore on leach pads:
	Nevada	$	536	$	479
	La Herradura		6		6
	Yanacocha		512		496
	Boddington		435		248
	Batu Hijau		1,119		879
	Other Australia/New Zealand		161		145
	Ahafo		173		121
		$	2,942	$	2,374

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Operating Lease Commitments (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Operating Leases Future Minimum Payments Due [Abstract]
Operating leases future minimum payments due - Current	$ 23
Operating leases future minimum payments due - Year 2	20
Operating leases future minimum payments due - Year 3	10
Operating leases future minimum payments due - Year 4	10
Operating leases future minimum payments due - Year 5	10
Operating leases future minimum payments due - Thereafter	27
Operating leases future minimum payments due - Total	100
Rent expense	$ 68	$ 46	$ 48

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Equity Income (Loss) of Affiliates (Tables)

12 Months Ended

Dec. 31, 2011

Equity Income Loss of Affiliates (Tables) [Abstract]

Equity income (loss) of affiliates

NOTE ##EqtyIncAffNote EQUITY INCOME (LOSS) OF AFFILIATES
	Years Ended December 31,
	2011		2010		2009
Minera La Zanja S.R.L.	$	52	$	10	$	(4)
Euronimba Ltd.		(41)		(10)		(17)
AGR Matthey Joint Venture		-		3		5
	$	11	$	3	$	(16)

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Segment Information (Tables)

12 Months Ended

Dec. 31, 2011

Segment Information (Tables) [Abstract]

Financial Information of Newmont's Segments

					Costs				Advanced
					Applicable				Projects and		Pre-Tax		Total		Capital
			Sales		to Sales		Amortization		Exploration		Income		Assets		Expenditures(1)
Year Ended December 31, 2011
Nevada			$	2,700	$	1,039	$	277	$	132	$	1,213	$	6,957	$	559
La Herradura				331		110		20		18		190		329		81
Hope Bay				-		-		14		194		(2,306)		127		101
Other North America				-		-		-		3		42		65		-
	North America			3,031		1,149		311		347		(861)		7,478		741
Yanacocha				2,003		711		234		39		988		2,712		360
Conga				-		-		-		27		(28)		1,086		739
Other South America				-		-		-		45		(47)		31		-
	South America			2,003		711		234		111		913		3,829		1,099
Boddington:
	Gold			1,056		470		122
	Copper			210		118		28
		Total Boddington		1,266		588		150		11		506		4,629		217
Batu Hijau:
	Gold			524		164		35
	Copper			1,052		332		71
		Total Batu Hijau		1,576		496		106		8		890		3,582		196
Other Australia/New Zealand				1,613		681		135		51		730		1,257		294
Other Asia Pacific				-		-		3		18		(66)		630		18
	Asia Pacific			4,455		1,765		394		88		2,060		10,098		725
Ahafo				869		265		76		40		465		1,146		116
Akyem				-		-		-		9		(10)		552		248
Other Africa				-		-		-		7		(11)		-		-
	Africa			869		265		76		56		444		1,698		364
Corporate and Other				-		-		21		121		(746)		4,371		35
Consolidated			$	10,358	$	3,890	$	1,036	$	723	$	1,810	$	27,474	$	2,964
(1)	Accrual basis includes an increase in accrued capital expenditures of $177; consolidated capital expenditures on a cash basis were $2787.

					Costs				Advanced
					Applicable to				Projects and		Pre-Tax		Total		Capital
			Sales		Sales		Amortization		Exploration		Income		Assets		Expenditures(1)
Year Ended December 31, 2010
Nevada			$	2,111	$	974	$	271	$	85	$	738	$	3,387	$	298
La Herradura				217		73		19		6		118		216		41
Hope Bay				-		-		13		98		(111)		2,152		115
Other North America				-		-		1		1		(1)		112		-
	North America			2,328		1,047		304		190		744		5,867		454
Yanacocha				1,778		630		162		24		893		2,682		167
Conga				-		-		-		10		(11)		262		134
Other South America				-		-		1		28		(23)		30		-
	South America			1,778		630		163		62		859		2,974		301
Boddington
	Gold			834		400		113
	Copper			162		93		25
		Total Boddington		996		493		138		6		304		4,323		146
Batu Hijau:
	Gold			776		155		42
	Copper			1,686		337		90
		Total Batu Hijau		2,462		492		132		3		1,736		3,398		67
Other Australia/New Zealand				1,321		585		108		31		575		1,025		176
Other Asia Pacific				-		-		2		19		(14)		535		17
	Asia Pacific			4,779		1,570		380		59		2,601		9,281		406
Ahafo				655		237		78		24		298		1,051		109
Akyem				-		-		-		9		(9)		295		70
Other Africa				-		-		-		-		(1)		-		-
	Africa			655		237		78		33		288		1,346		179
Corporate and Other				-		-		20		90		(495)		6,195		34
Consolidated			$	9,540	$	3,484	$	945	$	434	$	3,997	$	25,663	$	1,374
(1)	Accrual basis includes a decrease in accrued capital expenditures of $28; consolidated capital expenditures on a cash basis were $1402.

					Costs				Advanced
					Applicable to				Projects and		Pre-Tax		Total		Capital
			Sales		Sales		Amortization		Exploration		Income		Assets		Expenditures(1)
Year Ended December 31, 2009
Nevada			$	1,943	$	1,019	$	261	$	54	$	583	$	3,236	$	205
La Herradura				113		42		11		3		57		137		54
Hope Bay				-		-		12		66		(77)		1,862		5
Other North America				-		-		-		2		(7)		55		-
	North America			2,056		1,061		284		125		556		5,290		264
Yanacocha				2,013		642		168		19		1,093		2,445		119
Conga				-		-		-		4		(4)		27		27
Other South America				-		-		-		23		1		32		-
	South America			2,013		642		168		46		1,090		2,504		146
Boddington
	Gold			101		45		15
	Copper			27		16		4
		Total Boddington		128		61		19		32		(59)		3,975		1,093
Batu Hijau:
	Gold			550		118		30
	Copper			1,292		307		78
		Total Batu Hijau		1,842		425		108		-		1,242		3,129		44
Other Australia/New Zealand				1,138		577		136		21		374		870		122
Other Asia Pacific				-		-		3		12		(50)		256		3
	Asia Pacific			3,108		1,063		266		65		1,507		8,230		1,262
Ahafo				528		242		68		13		178		981		75
Akyem				-		-		-		8		(9)		206		10
Other Africa				-		-		-		2		2		-		-
	Africa			528		242		68		23		171		1,187		85
Corporate and Other				-		-		20		63		(370)		5,088		16
Consolidated			$	7,705	$	3,008	$	806	$	322	$	2,954	$	22,299	$	1,773
(1)	Accrual basis includes an increase in accrued capital expenditures of $4; consolidated capital expenditures on a cash basis were $1769.

Revenues from Export and Domestic Sales

Revenues from export and domestic sales were as follows:
		Years Ended December 31,
		2011		2010		2009
	Europe	$	7,392	$	6,209	$	5,573
	Japan		750		1,544		833
	Korea		712		760		465
	Indonesia		531		372		440
	Mexico		331		217		113
	Philippines		287		128		14
	Australia		182		110		222
	Other		173		200		45
		$	10,358	$	9,540	$	7,705

Long-Lived Assets, Excluding Deferred Tax Assets, Investments and Restricted Cash, by Country

Long-lived assets, excluding deferred tax assets, investments and restricted cash, were as follows:

	At December 31,
	2011		2010
United States	$	6,643	$	3,031
Australia		5,359		4,936
Peru		2,654		1,772
Indonesia		2,421		2,109
Ghana		1,535		1,231
Canada		43		2,088
Other		306		213
	$	18,961	$	15,380

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Consolidated Balance Sheets (USD $) In Millions, except Share data, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 1,760	$ 4,056
Trade receivables	300	582
Accounts receivable	320	88
Investments	94	113
Inventories	714	658
Stockpiles and ore on leach pads	671	617
Deferred income tax assets	396	177
Other current assets	1,133	962
Current assets	5,388	7,253
Property, plant and mine development, net	15,881	12,907
Investments	1,472	1,568
Stockpiles and ore on leach pads	2,271	1,757
Deferred income tax assets	1,605	1,437
Other long-term assets	857	741
Total assets	27,474	25,663
LIABILITIES
Debt	689	259
Accounts payable	561	427
Employee-related benefits	307	288
Income and mining taxes	250	355
Other current liabilities	2,133	1,418
Current liabilities	3,940	2,747
Debt	3,624	4,182
Reclamation and remediation liabilities	1,169	984
Deferred income tax liabilities	2,147	1,488
Employee-related benefits	459	325
Other long-term liabilities	364	221
Total liabilities	11,703	9,947
Commitments and contingencies
EQUITY
Common stock - $1.60 par value; Authorized - 750 million shares Issued and oustanding - Common: 490 million and 487 million shares issued, less 273,000 and 271,000 treasury shares, respectively Exchangeable: 56 million shares issued, less 51 million and 50 million redeemed shares, respectively	784	778
Additional paid-in capital	8,408	8,279
Accumulated other comprehensive income	652	1,108
Retained earnings	3,052	3,180
Newmont stockholders' equity	12,896	13,345
Noncontrolling interests	2,875	2,371
Total equity	15,771	15,716
Total liabilities and equity	$ 27,474	$ 25,663
EQUITY
Common stock, par value	$ 1.60
Common stock, shares authorized	750,000,000
Common stock, shares issued	490,000,000	487,000,000
Treasury shares	273,000	271,000
Exchangeable common stock, shares issued	56,000,000
Exchangeable common stock, shares redeemed	51,000,000	50,000,000

XML

Property, Plant and Mine Development (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Property Plant And Equipment [Line Items]
Net Book Value	$ 15,881	$ 12,907
Mineral Interests Cost	4,868	3,456
Mineral Interests Accumulated Amortization	(713)	(660)
Mineral Interests Net Book Value	4,155	2,796
Property Plant and Mine Development (Textuals)
Write-down of property, plant and mine development	2,084	6	7
Total North America [Member]
Property Plant and Mine Development (Textuals)
Construction-in-progress	263	252
Total South America [Member]
Property Plant and Mine Development (Textuals)
Construction-in-progress	916	266
Total Asia Pacific [Member]
Property Plant and Mine Development (Textuals)
Construction-in-progress	246	222
Total Africa [Member]
Property Plant and Mine Development (Textuals)
Construction-in-progress	269	84
Land [Member]
Property Plant And Equipment [Line Items]
Cost	263	118
Accumulated Amortization	0	0
Net Book Value	263	118
Facilities and Equipment [Member]
Property Plant And Equipment [Line Items]
Depreciable Life Minimum	1
Depreciable Life Maximum	27
Cost	13,056	12,424
Accumulated Amortization	(5,926)	(5,460)
Net Book Value	7,130	6,964
Mine Development [Member]
Property Plant And Equipment [Line Items]
Depreciable Life Minimum	1
Depreciable Life Maximum	27
Cost	3,903	3,217
Accumulated Amortization	(1,758)	(1,445)
Net Book Value	2,145	1,772
Mineral Interests [Member]
Property Plant And Equipment [Line Items]
Depreciable Life Minimum	1
Depreciable Life Maximum	27
Asset Retirement Obligation Costs [Member]
Property Plant And Equipment [Line Items]
Depreciable Life Minimum	1
Depreciable Life Maximum	27
Cost	758	638
Accumulated Amortization	(305)	(238)
Net Book Value	453	400
Construction In Progress [Member]
Property Plant And Equipment [Line Items]
Cost	1,735	857
Accumulated Amortization	0	0
Net Book Value	1,735	857
Production Stage [Member]
Property Plant And Equipment [Line Items]
Depreciable Life Minimum	1
Depreciable Life Maximum	27
Mineral Interests Cost	1,256	1,235
Mineral Interests Accumulated Amortization	(713)	(660)
Mineral Interests Net Book Value	543	575
Development Stage [Member]
Property Plant And Equipment [Line Items]
Mineral Interests Cost	149	149
Mineral Interests Accumulated Amortization	0	0
Mineral Interests Net Book Value	149	149
Exploration Stage [Member]
Property Plant And Equipment [Line Items]
Depreciable Life Minimum
Depreciable Life Maximum	0
Mineral Interests Cost	3,463	2,072
Mineral Interests Accumulated Amortization	0	0
Mineral Interests Net Book Value	3,463	2,072
Leased assets included above in facilities and equipment [Member]
Property Plant And Equipment [Line Items]
Depreciable Life Minimum	2
Depreciable Life Maximum	25
Cost	374	421
Accumulated Amortization	(250)	(289)
Net Book Value	$ 124	$ 132

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Reclamation and Remediation

12 Months Ended

Dec. 31, 2011

Reclamation and Remediation [Abstract]

RECLAMATION AND REMEDIATION

NOTE 4    RECLAMATION AND REMEDIATION

The Company's mining and exploration activities are subject to various federal and state laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation costs are based principally on legal and regulatory requirements.

At December 31, 2011 and 2010, $1,070 and $904, respectively, were accrued for reclamation obligations relating to mineral properties. In addition, the Company is involved in several matters concerning environmental obligations associated with former, primarily historic, mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved. At December 31, 2011 and 2010, $170 and $144, respectively, were accrued for such obligations. These amounts are also included in Reclamation and remediation liabilities.

Included in Other long-term assets at December 31, 2011 and 2010 is $11 and $12, respectively, of restricted cash that is legally restricted for purposes of settling asset retirement obligations related to the Con mine in Yellowknife, NWT, Canada. Included in Investments at December 31, 2011 and 2010 are $11 and $10 of long-term marketable debt securities, respectively, and $4 and $6 long-term marketable equity securities, respectively, which are legally pledged for purposes of settling asset retirement obligations related to the San Jose Reservoir in Yanacocha.

The following is a reconciliation of reclamation and remediation liabilities:

Balance January 1, 2010	$	859
Additions, changes in estimates and other		188
Liabilities settled		(51)
Accretion expense		52
Balance December 31, 2010		1,048
Additions, changes in estimates and other		176
Liabilities settled		(43)
Accretion expense		59
Balance December 31, 2011	$	1,240

Additions to the reclamation liability in 2011 of $176 include $139 for currently or recently producing properties due mainly to increased water treatment costs and additional heap leachfacilities at Yanacocha, an increase in the tailings area atBoddington, an expansion of the operating footprint at Batu Hijau and $37 for historic mining operations primarily related to additional water management costs.

Additions to the reclamation liability in 2010 of $188 include $186for currently or recently producing properties due mainly to increased water treatment costs as a result of mine plan changes at Yanacocha, increased demolition costs atBoddington, an increase in the tailings area at Kalgoorlie, increased backfill at Phoenix, increased activity at Hope Bay and $2 for historic mining operations primarily related to additional water management costs.

The current portion of Reclamation and remediation liabilities of $71 and $64 at December 31, 2011 and 2010, respectively, are included in Other current liabilities(see Note 24).

The Company's reclamation and remediation expenses consisted of:

	Years Ended December 31,
	2011		2010		2009
Reclamation	$	61	$	13	$	13
Accretion - operating		50		44		34
Accretion - non-operating		9		8		12
	$	120	$	65	$	59

Reclamation expense increased in 2011,primarily due to remediation agreed upon for the Midnite Mine site and land purchases around the Mt Leyshonmine.

XML

Other Assets (Tables)

12 Months Ended

Dec. 31, 2011

Other Assets (Tables) [Abstract]

Other Assets

NOTE ##OthAssetsNote    OTHER ASSETS
			At December 31,
			2011		2010
	Other current assets:
		Refinery metal inventory and receivable	$	796	$	617
		Derivative instruments		127		196
		Other prepaid assets		93		65
		Restricted cash		20		1
		Note receivable		12		12
		Other		85		71
			$	1,133	$	962
	Other long-term assets:
		Goodwill	$	188	$	188
		Intangible assets		147		91
		Income tax receivable		142		119
		Derivative instruments		112		116
		Debt issuance costs		59		39
		Restricted cash		48		25
		Other receivables		17		19
		Other		144		144
			$	857	$	741

XML

Fair Value (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended			12 Months Ended					12 Months Ended					12 Months Ended																12 Months Ended			12 Months Ended
	Dec. 31, 2011	Dec. 31, 2011 Boddington Contingent Consideration [Member]	Dec. 31, 2011 Forward Starting Swap Contracts [Member]	Dec. 31, 2011 Holt Property Royalty [Member]	Dec. 31, 2011 Foreign exchange forward contracts [Member]	Dec. 31, 2011 Diesel forward contracts [Member]	Dec. 31, 2011 Extractive industries [Member]	Dec. 31, 2011 Other Industries [Member]	Dec. 31, 2011 Asset Backed Commercial Paper [Member]	Dec. 31, 2011 Corporate Debt Securities [Member]	Dec. 31, 2011 Auction Rate Securities [Member]	Dec. 31, 2010 Auction Rate Securities [Member]	Dec. 31, 2011 Trade receivable from provisional copper and gold concentrate sales, net [Member]	Dec. 31, 2011 Materials, supplies and other [Member]	Dec. 31, 2011 Construction-in-progress [Member]	Dec. 31, 2011 Level 1 [Member]	Dec. 31, 2011 Level 1 [Member] Extractive industries [Member]	Dec. 31, 2011 Level 1 [Member] Other Industries [Member]	Dec. 31, 2011 Level 1 [Member] Corporate Debt Securities [Member]	Dec. 31, 2011 Level 1 [Member] Trade receivable from provisional copper and gold concentrate sales, net [Member]	Dec. 31, 2011 Level 2 [Member]	Dec. 31, 2011 Level 2 [Member] Forward Starting Swap Contracts [Member]	Dec. 31, 2011 Level 2 [Member] Foreign exchange forward contracts [Member]	Dec. 31, 2011 Level 2 [Member] Diesel forward contracts [Member]	Dec. 31, 2011 Level 3 [Member]	Dec. 31, 2011 Level 3 [Member] Boddington Contingent Consideration [Member]	Dec. 31, 2011 Level 3 [Member] Holt Property Royalty [Member]	Dec. 31, 2011 Level 3 [Member] Asset Backed Commercial Paper [Member]	Dec. 31, 2011 Level 3 [Member] Auction Rate Securities [Member]	Dec. 31, 2011 Level 3 [Member] Materials, supplies and other [Member]	Dec. 31, 2011 Level 3 [Member] Construction-in-progress [Member]	Dec. 31, 2011 Total Loss [Member]	Dec. 31, 2011 Total Loss [Member] Materials, supplies and other [Member]	Dec. 31, 2011 Total Loss [Member] Facilities and Equipment [Member]	Dec. 31, 2011 Total Loss [Member] Construction-in-progress [Member]	Dec. 31, 2011 Total Loss [Member] Mineral Interests [Member]
Assets:
Cash equivalents	$ 84															$ 84
Marketable securities							1,450	4	19	11	5						1,450	4	11									19	5
Trade receivable from provisional copper and gold concentrate sales, net													194							194
Derivative instruments, net					223	1																	223	1
Fair value assets	1,991															1,743					224				24
Liabilities:
Derivative instruments, net			399																			399
Boddington contingent consideration	54																									54
Holt property royalty				176																							176
Fair value liabilities	629																				399				230
Fair Value Accounting (Textuals)
Fair Value, Commitments, Valuation Techniques	The estimated fair value of the Boddington contingent royalty was determined using a Monte Carlo valuation model which simulates future gold and copper prices and costs applicable to sales to estimate fair value. At December 31, 2011, the Company used the following long-term assumptions: 1) $1,500 per ounce gold price, 2) $3.50 per pound copper price, 3) $90 per barrel of oil, and 4) a $1.00 A$/US$ exchange rate. The Company used a 4% discount rate in the model. The contingent royalty liability is classified within Level 3 of the fair value hierarchy. The estimated fair value of the Holt sliding scale royalty was determined using a Monte Carlo valuation model to simulate future gold prices utilizing a $1,500 per ounce gold price long-term assumption, various gold production scenarios based on publicly available reserve and resource information for the Holt property and a 4% weighted average discount rate. The sliding scale royalty liability is classified within Level 3 of the fair value hierarchy.
Unrealized gain	0								0
Assets measured at fair value hierarchy, percent																									1.00%
Liabilities measured at fair value hierarchy, percent																									37.00%
Revaluation	1	1
Total Hope Bay Impairment Charge	2,097
Changes in the Fair Value of the Company's Level 3 Financial Assets
Balance at beginning of period, assets	24								19		5	5
Unrealized gain	0								0
Balance at end of period, assets	24								19		5	5
Changes in the Fair Value of the Company's Level 3 Financial Liabilities
Balance at beginning of period, liabilities	83	83
Initial Valuation	183			183
Revaluation	1	1
Settlements	(37)	(30)		(7)
Balance at end of period, liabilities	230	54		176
Fair Value Of Assets Measured On Nonrecurring Basis [Abstract]
Property, plant and mine development	7														7										7						7	(2,080)		(107)	(207)	(1,766)
Inventories Fair Value Disclosure														17																17			(17)
Fair value assets, nonrecurring	$ 24																															$ (2,097)

XML

Segment Information (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011		Dec. 31, 2010		Dec. 31, 2009
Financial Information of Newmont's Segments [Abstract]
Sales	$ 2,765	$ 2,744	$ 2,384	$ 2,465	$ 2,548	$ 2,597	$ 2,153	$ 2,242	$ 10,358		$ 9,540		$ 7,705
Costs applicable to sales									3,890	[1]	3,484	[1]	3,008	[1]
Amortization									1,036		945		806
Advanced Projects and Exploration									723		434		322
Pre-Tax Income									1,810		3,997		2,954
Total Assets	27,474				25,663				27,474		25,663		22,299
Capital Expenditures									2,964		1,374		1,773
Segment Information (Textuals) [Abstract]
Change in accrued capital expenditures									177		(28)		4
Additions to property, plant and mine development									2,787		1,402		1,769
Sales	2,765	2,744	2,384	2,465	2,548	2,597	2,153	2,242	10,358		9,540		7,705
Revenues from export and domestic sales [Abstract]
Sales	2,765	2,744	2,384	2,465	2,548	2,597	2,153	2,242	10,358		9,540		7,705
Long-lived assets
Long-lived assets	18,961				15,380				18,961		15,380
Bank of Nova Scotia [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									1,143		2,435		2,658
Segment Information (Textuals) [Abstract]
Sales									1,143		2,435		2,658
Sales percentage	13.00%				32.00%				13.00%		32.00%		42.00%
Revenues from export and domestic sales [Abstract]
Sales									1,143		2,435		2,658
Royal Bank of Scotland [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									2,048
Segment Information (Textuals) [Abstract]
Sales									2,048
Sales percentage	23.00%								23.00%
Revenues from export and domestic sales [Abstract]
Sales									2,048
Nevada [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									2,700		2,111		1,943
Costs applicable to sales									1,039		974		1,019
Amortization									277		271		261
Advanced Projects and Exploration									132		85		54
Pre-Tax Income									1,213		738		583
Total Assets	6,957				3,387				6,957		3,387		3,236
Capital Expenditures									559		298		205
Segment Information (Textuals) [Abstract]
Sales									2,700		2,111		1,943
Revenues from export and domestic sales [Abstract]
Sales									2,700		2,111		1,943
La Herradura [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									331		217		113
Costs applicable to sales									110		73		42
Amortization									20		19		11
Advanced Projects and Exploration									18		6		3
Pre-Tax Income									190		118		57
Total Assets	329				216				329		216		137
Capital Expenditures									81		41		54
Segment Information (Textuals) [Abstract]
Sales									331		217		113
Revenues from export and domestic sales [Abstract]
Sales									331		217		113
Hope Bay [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									0		0		0
Costs applicable to sales									0		0		0
Amortization									14		13		12
Advanced Projects and Exploration									194		98		66
Pre-Tax Income									(2,306)		(111)		(77)
Total Assets	127				2,152				127		2,152		1,862
Capital Expenditures									101		115		5
Segment Information (Textuals) [Abstract]
Sales									0		0		0
Revenues from export and domestic sales [Abstract]
Sales									0		0		0
Other North America [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									0		0		0
Costs applicable to sales									0		0		0
Amortization									0		1		0
Advanced Projects and Exploration									3		1		2
Pre-Tax Income									42		(1)		(7)
Total Assets	65				112				65		112		55
Capital Expenditures									0		0		0
Segment Information (Textuals) [Abstract]
Sales									0		0		0
Revenues from export and domestic sales [Abstract]
Sales									0		0		0
Total North America [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									3,031		2,328		2,056
Costs applicable to sales									1,149		1,047		1,061
Amortization									311		304		284
Advanced Projects and Exploration									347		190		125
Pre-Tax Income									(861)		744		556
Total Assets	7,478				5,867				7,478		5,867		5,290
Capital Expenditures									741		454		264
Segment Information (Textuals) [Abstract]
Sales									3,031		2,328		2,056
Revenues from export and domestic sales [Abstract]
Sales									3,031		2,328		2,056
Yanacocha [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									2,003		1,778		2,013
Costs applicable to sales									711		630		642
Amortization									234		162		168
Advanced Projects and Exploration									39		24		19
Pre-Tax Income									988		893		1,093
Total Assets	2,712				2,682				2,712		2,682		2,445
Capital Expenditures									360		167		119
Segment Information (Textuals) [Abstract]
Sales									2,003		1,778		2,013
Revenues from export and domestic sales [Abstract]
Sales									2,003		1,778		2,013
Conga [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									0		0		0
Costs applicable to sales									0		0		0
Amortization									0		0		0
Advanced Projects and Exploration									27		10		4
Pre-Tax Income									(28)		(11)		(4)
Total Assets	1,086				262				1,086		262		27
Capital Expenditures									739		134		27
Segment Information (Textuals) [Abstract]
Sales									0		0		0
Revenues from export and domestic sales [Abstract]
Sales									0		0		0
Other South America [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									0		0		0
Costs applicable to sales									0		0		0
Amortization									0		1		0
Advanced Projects and Exploration									45		28		23
Pre-Tax Income									(47)		(23)		1
Total Assets	31				30				31		30		32
Capital Expenditures									0		0		0
Segment Information (Textuals) [Abstract]
Sales									0		0		0
Revenues from export and domestic sales [Abstract]
Sales									0		0		0
Total South America [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									2,003		1,778		2,013
Costs applicable to sales									711		630		642
Amortization									234		163		168
Advanced Projects and Exploration									111		62		46
Pre-Tax Income									913		859		1,090
Total Assets	3,829				2,974				3,829		2,974		2,504
Capital Expenditures									1,099		301		146
Segment Information (Textuals) [Abstract]
Sales									2,003		1,778		2,013
Revenues from export and domestic sales [Abstract]
Sales									2,003		1,778		2,013
Boddington [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									1,266		996		128
Costs applicable to sales									588		493		61
Amortization									150		138		19
Advanced Projects and Exploration									11		6		32
Pre-Tax Income									506		304		(59)
Total Assets	4,629				4,323				4,629		4,323		3,975
Capital Expenditures									217		146		1,093
Segment Information (Textuals) [Abstract]
Sales									1,266		996		128
Revenues from export and domestic sales [Abstract]
Sales									1,266		996		128
Boddington [Member] | Gold [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									1,056		834		101
Costs applicable to sales									470		400		45
Amortization									122		113		15
Segment Information (Textuals) [Abstract]
Sales									1,056		834		101
Revenues from export and domestic sales [Abstract]
Sales									1,056		834		101
Boddington [Member] | Copper [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									210		162		27
Costs applicable to sales									118		93		16
Amortization									28		25		4
Segment Information (Textuals) [Abstract]
Sales									210		162		27
Revenues from export and domestic sales [Abstract]
Sales									210		162		27
Batu Hijau [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									1,576		2,462		1,842
Costs applicable to sales									496		492		425
Amortization									106		132		108
Advanced Projects and Exploration									8		3		0
Pre-Tax Income									890		1,736		1,242
Total Assets	3,582				3,398				3,582		3,398		3,129
Capital Expenditures									196		67		44
Segment Information (Textuals) [Abstract]
Sales									1,576		2,462		1,842
Revenues from export and domestic sales [Abstract]
Sales									1,576		2,462		1,842
Batu Hijau [Member] | Gold [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									524		776		550
Costs applicable to sales									164		155		118
Amortization									35		42		30
Segment Information (Textuals) [Abstract]
Sales									524		776		550
Revenues from export and domestic sales [Abstract]
Sales									524		776		550
Batu Hijau [Member] | Copper [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									1,052		1,686		1,292
Costs applicable to sales									332		337		307
Amortization									71		90		78
Segment Information (Textuals) [Abstract]
Sales									1,052		1,686		1,292
Revenues from export and domestic sales [Abstract]
Sales									1,052		1,686		1,292
Other Australia New Zealand [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									1,613		1,321		1,138
Costs applicable to sales									681		585		577
Amortization									135		108		136
Advanced Projects and Exploration									51		31		21
Pre-Tax Income									730		575		374
Total Assets	1,257				1,025				1,257		1,025		870
Capital Expenditures									294		176		122
Segment Information (Textuals) [Abstract]
Sales									1,613		1,321		1,138
Revenues from export and domestic sales [Abstract]
Sales									1,613		1,321		1,138
Other Asia Pacific [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									0		0		0
Costs applicable to sales									0		0		0
Amortization									3		2		3
Advanced Projects and Exploration									18		19		12
Pre-Tax Income									(66)		(14)		(50)
Total Assets	630				535				630		535		256
Capital Expenditures									18		17		3
Segment Information (Textuals) [Abstract]
Sales									0		0		0
Revenues from export and domestic sales [Abstract]
Sales									0		0		0
Total Asia Pacific [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									4,455		4,779		3,108
Costs applicable to sales									1,765		1,570		1,063
Amortization									394		380		266
Advanced Projects and Exploration									88		59		65
Pre-Tax Income									2,060		2,601		1,507
Total Assets	10,098				9,281				10,098		9,281		8,230
Capital Expenditures									725		406		1,262
Segment Information (Textuals) [Abstract]
Sales									4,455		4,779		3,108
Revenues from export and domestic sales [Abstract]
Sales									4,455		4,779		3,108
Ahafo [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									869		655		528
Costs applicable to sales									265		237		242
Amortization									76		78		68
Advanced Projects and Exploration									40		24		13
Pre-Tax Income									465		298		178
Total Assets	1,146				1,051				1,146		1,051		981
Capital Expenditures									116		109		75
Segment Information (Textuals) [Abstract]
Sales									869		655		528
Revenues from export and domestic sales [Abstract]
Sales									869		655		528
Akyem [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									0		0		0
Costs applicable to sales									0		0		0
Amortization									0		0		0
Advanced Projects and Exploration									9		9		8
Pre-Tax Income									(10)		(9)		(9)
Total Assets	552				295				552		295		206
Capital Expenditures									248		70		10
Segment Information (Textuals) [Abstract]
Sales									0		0		0
Revenues from export and domestic sales [Abstract]
Sales									0		0		0
Other Africa [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									0		0		0
Costs applicable to sales									0		0		0
Amortization									0		0		0
Advanced Projects and Exploration									7		0		2
Pre-Tax Income									(11)		(1)		2
Total Assets	0				0				0		0		0
Capital Expenditures									0		0		0
Segment Information (Textuals) [Abstract]
Sales									0		0		0
Revenues from export and domestic sales [Abstract]
Sales									0		0		0
Total Africa [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									869		655		528
Costs applicable to sales									265		237		242
Amortization									76		78		68
Advanced Projects and Exploration									56		33		23
Pre-Tax Income									444		288		171
Total Assets	1,698				1,346				1,698		1,346		1,187
Capital Expenditures									364		179		85
Segment Information (Textuals) [Abstract]
Sales									869		655		528
Revenues from export and domestic sales [Abstract]
Sales									869		655		528
Corporate and Other [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									0		0		0
Costs applicable to sales									0		0		0
Amortization									21		20		20
Advanced Projects and Exploration									121		90		63
Pre-Tax Income									(746)		(495)		(370)
Total Assets	4,371				6,195				4,371		6,195		5,088
Capital Expenditures									35		34		16
Segment Information (Textuals) [Abstract]
Sales									0		0		0
Revenues from export and domestic sales [Abstract]
Sales									0		0		0
Europe [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									7,392		6,209		5,573
Segment Information (Textuals) [Abstract]
Sales									7,392		6,209		5,573
Revenues from export and domestic sales [Abstract]
Sales									7,392		6,209		5,573
Japan [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									750		1,544		833
Segment Information (Textuals) [Abstract]
Sales									750		1,544		833
Revenues from export and domestic sales [Abstract]
Sales									750		1,544		833
Korea [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									712		760		465
Segment Information (Textuals) [Abstract]
Sales									712		760		465
Revenues from export and domestic sales [Abstract]
Sales									712		760		465
Indonesia [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									531		372		440
Segment Information (Textuals) [Abstract]
Sales									531		372		440
Revenues from export and domestic sales [Abstract]
Sales									531		372		440
Long-lived assets
Long-lived assets	2,421				2,109				2,421		2,109
Mexico [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									331		217		113
Segment Information (Textuals) [Abstract]
Sales									331		217		113
Revenues from export and domestic sales [Abstract]
Sales									331		217		113
Philippines [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									287		128		14
Segment Information (Textuals) [Abstract]
Sales									287		128		14
Revenues from export and domestic sales [Abstract]
Sales									287		128		14
Australia [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									182		110		222
Segment Information (Textuals) [Abstract]
Sales									182		110		222
Revenues from export and domestic sales [Abstract]
Sales									182		110		222
Long-lived assets
Long-lived assets	5,359				4,936				5,359		4,936
Other Countries [Member]
Financial Information of Newmont's Segments [Abstract]
Sales									173		200		45
Segment Information (Textuals) [Abstract]
Sales									173		200		45
Revenues from export and domestic sales [Abstract]
Sales									173		200		45
Long-lived assets
Long-lived assets	306				213				306		213
United States [Member]
Long-lived assets
Long-lived assets	6,643				3,031				6,643		3,031
Peru [Member]
Long-lived assets
Long-lived assets	2,654				1,772				2,654		1,772
Ghana [Member]
Long-lived assets
Long-lived assets	1,535				1,231				1,535		1,231
Canada [Member]
Long-lived assets
Long-lived assets	$ 43				$ 2,088				$ 43		$ 2,088

[1] (1) Excludes Amortization and Reclamation and remediation.

XML

Other Assets

12 Months Ended

Dec. 31, 2011

Other Assets [Abstract]

OTHER ASSETS

NOTE ##OthAssetsNote    OTHER ASSETS
			At December 31,
			2011		2010
	Other current assets:
		Refinery metal inventory and receivable	$	796	$	617
		Derivative instruments		127		196
		Other prepaid assets		93		65
		Restricted cash		20		1
		Note receivable		12		12
		Other		85		71
			$	1,133	$	962
	Other long-term assets:
		Goodwill	$	188	$	188
		Intangible assets		147		91
		Income tax receivable		142		119
		Derivative instruments		112		116
		Debt issuance costs		59		39
		Restricted cash		48		25
		Other receivables		17		19
		Other		144		144
			$	857	$	741

XML

Employee Related Benefits (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Current employee-related benefits
Accrued payroll and withholding taxes	$ 204	$ 189
Peruvian workers' participation	42	49
Accrued severance	3	2
Other employee-related payables	50	39
Employee-related benefits	307	288
Long-term employee-related benefits
Employee pension benefits	227	127
Other post-retirement benefit plans	104	92
Accrued severance	96	73
Peruvian workers' participation	17	18
Other employee-related payables	15	15
Employee-related benefits	459	325
Change in Fair Value of Assets:
Employer contributions	29	163	58
Weighted-average assumptions used in measuring the net periodic pension benefit cost
Expected return on plan assets	7.75%
One-percentage-point change in assumed health care cost trent rates
One-percentage-point increase effect on total of service and interest cost components of net periodic post-retirement health care benefit cost	1
One-percentage-point decrease effect on total of service and interest cost components of net periodic post-retirement health care benefit cost	(1)
One-percentage-point increase effect on the health care component of the accumulated post-retirement benefit obligation	17
One-percentage-point decrease effect on the health care component of the accumulated post-retirement benefit obligation	(14)
Defined Benefit Plan (Textuals)
Retirement benefit programs estimated future employer contributions in next fiscal year	35
Expected return on plan assets	7.75%
Actual return on plan assets	8.00%
Expected benefit payments year 1	25
Defined contribution savings plans description	When an employee meets eligibility requirements, the Company matches 100% of employee contributions of up to 6% of base salary for the salaried and hourly union plans. The Company makes a contribution between 5.0% and 7.5% (based on continuous years of service) to each non-union hourly employee’s retirement contribution account at its sole discretion.
Defined contribution savings plans matching contributions	17	15	15
U S Equity Investments [Member]
Target asset allocations
Equity investments	33.00%
Actual asset allocations
Equity investments	35.00%
Defined Benefit Plan (Textuals)
Equity investments	35.00%
International Equity Investments [Member]
Target asset allocations
Equity investments	24.00%
Actual asset allocations
Equity investments	24.00%
Defined Benefit Plan (Textuals)
Equity investments	24.00%
Fixed Income Funds [Member]
Target asset allocations
Other investments	35.00%
Actual asset allocations
Other investments	33.00%
Defined Benefit Plan (Textuals)
Other investments	33.00%
Cash And Cash Equivalents [Member]
Target asset allocations
Other investments	0.00%
Actual asset allocations
Other investments	0.00%
Defined Benefit Plan (Textuals)
Other investments	0.00%
One Year From Balance Sheet Date Member
Defined Benefit Plan (Textuals)
Assumed health care cost trend rate	8.00%
More Than One And Within Two Years From Balance Sheet Date Member
Defined Benefit Plan (Textuals)
Assumed health care cost trend rate	7.50%
More Than Two And Within Three Years From Balance Sheet Date Member
Defined Benefit Plan (Textuals)
Assumed health care cost trend rate	7.00%
More Than Three And Within Four Years From Balance Sheet Date Member
Defined Benefit Plan (Textuals)
Assumed health care cost trend rate	6.50%
More Than Four And Within Five Years From Balance Sheet Date Member
Defined Benefit Plan (Textuals)
Assumed health care cost trend rate	6.00%
More Than Five Years From Balance Sheet Date And Thereafter Member
Defined Benefit Plan (Textuals)
Assumed health care cost trend rate	5.00%
Other benefit costs [Member]
Current employee-related benefits
Employee-related benefits	3	3
Other benefit costs, net
Service cost	2	2	2
Interest cost	5	6	5
Other benefit costs, net	6	7	6
Change in Benefit Obligation:
Benefit obligation at beginning of year	95	95
Service cost	2	2	2
Interest cost	5	6	5
Actuarial (gain) loss	7	(6)
Amendments	0	0
Foreign currency exchange loss	0	0
Settlement payments	0	0
Benefits paid	(2)	(2)
Projected benefit obligation at end of year		95	95
Accumulated Benefit Obligation	107	95
Change in Fair Value of Assets:
Fair value of assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	2	2
Foreign currency exchange loss	0	0
Settlement payments	0	0
Benefits paid	(2)	(2)
Fair value of assets at end of year	0	0	0
Unfunded status	107	95
Pension And Other Postretirement Defined Benefit Plans Noncurrent Liabilities Abstract
Accrued employee benefit liability	107	95
Defined Benefit Plan Accumulated Other Comprehensive Income (Loss) Before Tax Abstract
Net actuarial gain (loss)	6	12
Prior service credit (cost)	4	5
Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax	10	17
Less: Income taxes	(4)	(6)
Accumulated other comprehensive income (loss)	6	11
Pension benefit costs, net
Service cost	2	2	2
Interest cost	5	6	5
Expected return on plan assets	0	0	0
Amortization, net	(1)	(1)	(1)
Settlements	0	0	0
Pension benefit costs, net	6	7	6
Components recognized in Other comprehensive income (loss)
Net gain (loss)	(6)	5	(1)
Amortization, net	(1)	(1)	(1)
Total recognized in Other comprehensive income (loss)	(7)	4	(2)
Total recognized in net periodic benefit cost and Other comprehensive income (loss)	(13)	(3)	(7)
Weighted-average assumptions used in measuring the Company's benefit obligation
Discount rate	5.35%	5.75%
Rate of compensation increase	5.00%	5.00%
Weighted-average assumptions used in measuring the net periodic pension benefit cost
Discount long-term rate	5.75%	6.10%	6.05%
Rate of compensation increase	5.00%	5.00%	5.00%
Fair value measurement
Fair value of assets	0	0	0
Defined Benefit Plan (Textuals)
Expected recognition of amounts in Accumulated other comprehensive income (loss)		1
Discount rate	5.35%	5.75%
Expected benefit payments year 1	4
Expected benefit payments year 2	4
Expected benefit payments year 3	4
Expected benefit payments year 4	5
Expected benefit payments year 5	5
Expected benefit payments years thereafter	32
Pension benefit costs [Member]
Current employee-related benefits
Employee-related benefits	5	6
Other benefit costs, net
Service cost	25	21	18
Interest cost	39	36	32
Other benefit costs, net	48	42	37
Change in Benefit Obligation:
Benefit obligation at beginning of year	681	580
Service cost	25	21	18
Interest cost	39	36	32
Actuarial (gain) loss	66	68
Amendments	0	2
Foreign currency exchange loss	0	2
Settlement payments	(14)	(1)
Benefits paid	(25)	(27)
Projected benefit obligation at end of year	772	681	580
Accumulated Benefit Obligation	554	543
Change in Fair Value of Assets:
Fair value of assets at beginning of year	559	372
Actual return on plan assets	(7)	53
Employer contributions	27	161
Foreign currency exchange loss	0	1
Settlement payments	(14)	(1)
Benefits paid	(25)	(27)
Fair value of assets at end of year	540	559	372
Unfunded status	232	122
Pension And Other Postretirement Defined Benefit Plans Noncurrent Liabilities Abstract
Accrued employee benefit liability	232	122
Defined Benefit Plan Accumulated Other Comprehensive Income (Loss) Before Tax Abstract
Net actuarial gain (loss)	(349)	(263)
Prior service credit (cost)	(7)	(8)
Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax	(356)	(271)
Less: Income taxes	125	95
Accumulated other comprehensive income (loss)	(231)	(176)
Pension benefit costs, net
Service cost	25	21	18
Interest cost	39	36	32
Expected return on plan assets	(42)	(32)	(29)
Amortization, net	26	17	16
Settlements	0	0	0
Pension benefit costs, net	48	42	37
Components recognized in Other comprehensive income (loss)
Net gain (loss)	(111)	(41)	7
Amortization, net	26	17	16
Total recognized in Other comprehensive income (loss)	(85)	(24)	23
Total recognized in net periodic benefit cost and Other comprehensive income (loss)	(133)	(66)	(14)
Weighted-average assumptions used in measuring the Company's benefit obligation
Discount rate	5.35%	5.75%
Rate of compensation increase	5.00%	5.00%
Weighted-average assumptions used in measuring the net periodic pension benefit cost
Discount long-term rate	5.75%	6.10%	6.05%
Expected return on plan assets	8.00%	8.00%	8.00%
Rate of compensation increase	5.00%	5.00%	5.00%
Fair value measurement
Fair value of assets	540	559	372
Defined Benefit Plan (Textuals)
Expected recognition of amounts in Accumulated other comprehensive income (loss)	25	1
Discount rate	5.35%	5.75%
Expected return on plan assets	8.00%	8.00%	8.00%
Expected benefit payments year 2	27
Expected benefit payments year 3	33
Expected benefit payments year 4	40
Expected benefit payments year 5	37
Expected benefit payments years thereafter	268
Pension benefit costs [Member] | Level 1 [Member]
Change in Fair Value of Assets:
Fair value of assets at end of year	1	2
Fair value measurement
Fair value of assets	1	2
Pension benefit costs [Member] | Level 2 [Member]
Change in Fair Value of Assets:
Fair value of assets at end of year	539	557
Fair value measurement
Fair value of assets	539	557
Pension benefit costs [Member] | Cash And Cash Equivalents [Member]
Change in Fair Value of Assets:
Fair value of assets at end of year	1	2
Fair value measurement
Fair value of assets	1	2
Pension benefit costs [Member] | Cash And Cash Equivalents [Member] | Level 1 [Member]
Change in Fair Value of Assets:
Fair value of assets at end of year	1	2
Fair value measurement
Fair value of assets	1	2
Pension benefit costs [Member] | Commingled Funds [Member]
Change in Fair Value of Assets:
Fair value of assets at end of year	539	557
Fair value measurement
Fair value of assets	539	557
Pension benefit costs [Member] | Commingled Funds [Member] | Level 2 [Member]
Change in Fair Value of Assets:
Fair value of assets at end of year	539	557
Fair value measurement
Fair value of assets	$ 539	$ 557

XML

Unaudited Supplementary Data

12 Months Ended

Dec. 31, 2011

Supplementary Data [Abstract]

Supplementary Data

NOTE ##SuppNote    UNAUDITED SUPPLEMENTARY DATA
Quarterly Data
		The following is a summary of selected quarterly financial information (unaudited):
			2011
			Three Months Ended
			March 31		June 30		September 30		December 31
Sales			$	2,465	$	2,384	$	2,744	$	2,765
(1)			$	1,255	$	1,174	$	1,460	$	1,423
(2)			$	514	$	523	$	493	$	(1,028)
Loss from discontinued operations(2)				-		(136)		-		-
Net income (loss)(2)			$	514	$	387	$	493	$	(1,028)
Income (loss) per common share
	Basic:
		Continuing operations	$	1.04	$	1.06	$	1.00	$	(2.08)
		Discontinued operations		-		(0.28)		-		-
			$	1.04	$	0.78	$	1.00	$	(2.08)
	Diluted:
		Continuing operations	$	1.03	$	1.04	$	0.98	$	(2.02)
		Discontinued operations		-		(0.27)		-		-
			$	1.03	$	0.77	$	0.98	$	(2.02)
Weighted average common shares (millions)
		Basic		493		494		494		495
		Diluted		501		501		504		510
Cash dividends declared per common share			$	0.15	$	0.20	$	0.30	$	0.35
Closing price of common stock			$	54.58	$	53.97	$	62.95	$	60.01
			2010
			Three Months Ended
			March 31		June 30		September 30		December 31
Sales			$	2,242	$	2,153	$	2,597	$	2,548
(1)			$	1,136	$	1,061	$	1,447	$	1,402
(2)			$	546	$	382	$	537	$	840
Loss from discontinued operations(2)				-		-		-		(28)
Net income (loss)(2)			$	546	$	382	$	537	$	812
Income (loss) per common share
	Basic:
		Continuing operations	$	1.11	$	0.78	$	1.09	$	1.71
		Discontinued operations		-		-		-		(0.06)
			$	1.11	$	0.78	$	1.09	$	1.65
	Diluted:
		Continuing operations	$	1.11	$	0.77	$	1.07	$	1.67
		Discontinued operations		-		-		-		(0.06)
			$	1.11	$	0.77	$	1.07	$	1.61
Weighted average common shares (millions)
		Basic		491		492		493		493
		Diluted		493		499		502		504
Cash dividends declared per common share			$	0.10	$	0.10	$	0.15	$	0.15
Closing price of common stock			$	50.93	$	61.74	$	62.81	$	61.43

(1)Sales less Costs applicable to sales, Amortization andReclamation and remediation.

(2)Attributable to Newmont stockholders.

Significant after-tax items were as follows:

Fourth quarter 2011: (i) a $1,609 ($3.25 per share, basic) loss related to impairment of Hope Bay; (ii) a $9 ($0.02 per share, basic) net gain on asset sales and (iii) a $4 ($0.01 per share, basic) loss related to impairment of other assets;

Third quarter 2011: (i) a $151 ($0.31 per share, basic) loss related to impairment of assets and (ii) a $9 ($0.02 per share, basic) net gain on asset sales;

Second quarter 2011: (i) a $136 ($0.28 per share, basic) loss from discontinued operations; (ii) a $65 ($0.13 per share, basic) income tax benefit from internal restructuring; (iii) a $32 ($0.06 per share, basic) net gain on asset sales and(iv) a $18 ($0.03 per share, basic) loss related to Fronteer acquisition costs;

First quarter 2011: none;

Fourth quarter 2010: (i) a $264 ($0.54 per share, basic) income tax benefit from internal restructuring;

Third quarter 2010: none;

Second quarter 2010: (i) a $7 ($0.01 per share, basic) net gain on asset sales;

First quarter 2010: (i) a $127 ($0.26 per share, basic) income tax benefit from internal restructuring; (ii) a $25 ($0.05 per share, basic) net gain on asset sales and (iii) a $13 ($0.03 per share, basic) PTNNT community contribution;

XML

Newmont Equity and Income Per Share

12 Months Ended

Dec. 31, 2011

Income Per Share [Abstract]

NEWMONT EQUITY AND INCOME PER SHARE

NOTE 14    NEWMONT EQUITY AND INCOME PER SHARE

Newmont Common Stock

In September 2009, Newmont filed a shelf registration statement on Form S-3 under which it can issue an indeterminate number or amount of common stock, preferred stock, debt securities, guarantees of debt securities and warrants from time to time at indeterminate prices. It also included the resale of an indeterminate amount of common stock, preferred stock and debt securities from time to time upon exercise of warrants or conversion of convertible securities.

Treasury Stock

Treasury stock is acquired by the Company when certain restricted stock awards vest or are forfeited. At vesting, a participant has a tax liability and, pursuant to the participant's award agreement, may elect withholding of restricted stock to satisfy tax withholding obligations. The withheld or forfeited stock is accounted for as treasury stock and carried at the par value of the related common stock.

Exchangeable Shares

In connection with the acquisition of Franco-Nevada Corporation (“Franco”) in February 2002, certain holders of Franco common stock received 0.8 of an exchangeable share of Newmont Mining Corporation of Canada Limited (formerly Franco) for each share of common stock held. These exchangeable shares are convertible, at the option of the holder, into shares of Newmont common stock on a one-for-one basis, and entitle holders to dividends and other rights economically equivalent to holders of Newmont common stock. On December 15, 2011, as a result of a plan of arrangement, holders of exchangeable shares received, at their election, for each existing exchangeable share, one new exchangeable share of Newmont Mining Corporation of Canada Limited or one share of Newmont common stock. In connection with the plan of arrangement, 1.6 million shares were converted from exchangeable shares to Newmont common stock and 4.9 million new exchangeable shares were issued. At December 31, 2011 and 2010, the value of the remaining exchangeable shares was included in Additional paid-in capitaland outstanding shares.

Net Income per Common Share

Basic income per common share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted income per common share is computed similarly to basic income per common share except that the weighted average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares had been issued.

			Years Ended December 31,
			2011		2010		2009
Net income attributable to Newmont stockholders:
	Continuing operations		$	502	$	2,305	$	1,308
	Discontinued operations			(136)		(28)		(11)
			$	366	$	2,277	$	1,297
Weighted average common shares (millions):
	Basic			494		492		487
	Effect of employee stock based awards			2		2		-
	Effect of convertible notes			8		6		-
	Diluted			504		500		487
Net income attributable to Newmont stockholders per
	common share
	Basic:
		Continuing operations	$	1.02	$	4.69	$	2.68
		Discontinued operations		(0.28)		(0.06)		(0.02)
			$	0.74	$	4.63	$	2.66
	Diluted:
		Continuing operations	$	1.00	$	4.61	$	2.68
		Discontinued operations		(0.27)		(0.06)		(0.02)
			$	0.73	$	4.55	$	2.66

Options to purchase 2 million, 2 million and 4 million shares of common stock at average exercise prices of $58, $57 and $47 were outstanding at December 31, 2011, 2010 and 2009, respectively, but were not included in the computation of diluted weighted average common shares because their effect would have been anti-dilutive.

In February 2009 and July 2007, Newmont issued $518 and $1,150, respectively, of Convertible Senior Notes that, if converted in the future, may have a dilutive effect on the Company's weighted average number of common shares. The notes issued in 2009 and 2007 are convertible, at the holder's option, equivalent to a conversion price of $45.73 (11,316,422 shares of common stock) and $45.68 (25,175,131 shares of common stock), respectively, per share of common stock. Under the convertible note indenture, Newmont is required to settle the principal amount of the Convertible Senior Notes in cash and may elect to settle the remaining conversion obligation (Newmont average share price in excess of the conversion price), if any, in cash, shares or a combination thereof. The effect of contingently convertible instruments on diluted earnings per share is calculated under the net share settlement method in accordance with ASC guidance. The average price of the Company's common stockfor the year ended December 31, 2011 and 2010 exceeded the conversion price for the notes issued in 2009 and 2007, respectively, and therefore, 8 and 6 million shares additional shares were included in the computation of diluted weighted average common shares for the year ended December 31, 2011 and 2010, respectively.

In connection with the 2007 Convertible Senior Notes offering, the Company entered into Call Spread Transactions which included the purchase of call options and the sale of warrants. As a result of the Call Spread Transactions, the conversion price of $45.68 was effectively increased to $59.59. Should the warrant transactions become dilutive to the Company's earnings per share (Newmont's average share price exceeds $59.59) the effect of the warrant transactions on diluted earnings per share will be calculated in accordance with the net share settlement method.

The Net income attributable to Newmont stockholders and transfers with noncontrolling interests was:

			Years Ended December 31,
			2011		2010		2009
Net income attributable to Newmont stockholders			$	366	$	2,277	$	1,297
Transfers from the noncontrolling interests:
	Increase in Additional paid-in capital from sale of PTNNT shares,
		net of tax of nil, $33 and $115, respectively		-		16		63
	Net income attributable to Newmont stockholders and transfers
		from noncontrolling interests	$	366	$	2,293	$	1,360