EX-12.1 COMPUTATION OF RATIOS OF EARNINGS

Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

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

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


	Years Ended December 31,
	2008		2007			2006		2005		2004
Earnings:
Income (loss) from continuing operations before income tax expense and accounting change^{(1) (2)}	$	1,252	$	(389	)	$	1,212	$	907	$	1,053
Adjustments:
Fixed charges added to earnings		147		126			102		101		101
Dividends from equity affiliates		—		2			1		—		2
Amortization of capitalized interest		17		18			13		16		16

	$	1,416	$	(243	)	$	1,328	$	1,024	$	1,172

Fixed Charges:
Net interest expense⁽³⁾	$	135	$	119		$	97	$	97	$	97
Portion of rental expense representative of interest		12		7			5		4		4

Fixed charges added to earnings		147		126			102		101		101
Capitalized interest		47		50			57		39		13

	$	194	$	176		$	159	$	140	$	114

Ratio of earnings to fixed charges		7.3			⁽⁴⁾		8.3		7.3		10.3


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

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

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

⁽⁴⁾		Earnings for 2007 were inadequate to cover fixed charges by $419 due to a non-cash write-off of goodwill ($1,122 million) and a pre-tax loss on settlement of price-capped forward sales contracts ($531 million).

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in millions except ratio)


	Six Months Ended
	June 30, 2009
Earnings:
Income from continuing operations before income tax expense, equity loss of affiliates and noncontrolling interests in subsidiaries ⁽¹⁾	$	846
Adjustments:
Fixed charges added to earnings		60
Dividends from equity affiliates		2
Amortization of capitalized interest		10

	$	918

Fixed Charges:
Net interest expense ⁽²⁾	$	55
Portion of rental expense representative of interest		5

Fixed charges added to earnings		60
Capitalized interest		42

	$	102

Ratio of earnings to fixed charges		9.0


⁽¹⁾		Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included in Income tax expense.

⁽²⁾		Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.