Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS

(Amounts in thousands except ratio)

(Unaudited)

	Three Months Ended March 31, 2002
	As Restated
Earnings:
Loss before income taxes, net of minority interest in income of affiliates	$	(14,715	)
Adjustments:
Net interest expense (1)		31,137
Amortization of capitalized interest		2,208
Portion of rental expense representative of interest		627
Undistributed income of affiliate		1,404
Preferred dividends paid in cash		(1,869	)
Minority interest in income of affiliates		10,550
	$	29,342
Fixed Charges:
Net interest expense (1)	$	31,137
Capitalized interest		1,222
Preferred dividends paid in cash		1,869
Portion of rental expense representative of interest		627
	$	34,885
Ratio of earnings to fixed charges		0.8

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