SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
February 21, 2013
Newmont Mining Corporation
(Exact name of registrant as specified in its charter)
Delaware
(State or Other Jurisdiction of Incorporation)
001-31240
(Commission File Number)
84-1611629
(I.R.S. Employer Identification No.)
6363 South Fiddlers Green Circle
Greenwood Village, Colorado 80111
(Address of principal executive offices) (zip code)
(303) 863-7414
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On February 21, 2013, Newmont Mining Corporation, a Delaware corporation (the “Company”), issued a news release reporting its financial results for the quarter ended and year ended December 31, 2012. A copy of the news release is furnished as Exhibit 99.1 to this report.
Additionally, on February 21, 2013, the Company issued a news release reporting 2012 reserve estimates, 2012 exploration highlights and 2013 planned exploration activity. A copy of the news release is furnished as Exhibit 99.2 to this report.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
Exhibit Number | Description of Exhibit |
99.1 | News Release, dated February 21, 2013, reporting financial results for the quarter ended and year ended December 31, 2012 |
99.2 | News Release, dated February 21, 2013, reporting 2012 reserves, 2012 exploration highlights and 2013 planned exploration activity |
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NEWMONT MINING CORPORATION | ||
By: | /s/ Stephen P. Gottesfeld | |
Name: | Stephen P. Gottesfeld | |
Title: | Executive Vice President, General Counsel and Secretary |
Dated: February 21, 2013
EXHIBIT INDEX
Exhibit Number | Description of Exhibit |
99.1 | News Release, dated February 21, 2013, reporting financial results for the quarter ended and year ended December 31, 2012 |
99.2 | News Release, dated February 21, 2013, reporting 2012 reserves, 2012 exploration highlights and 2013 planned exploration activity |
S:\LEGAL\SEC\8-Ks\8-K February 2013 - earningsand reserves DRAFT.doc
Newmont Announces Net Income from Continuing Operations of $1.9 Billion or $3.80 per Share in 2012
Annual Revenue of $9.9 Billion and Increased Quarterly Dividend to $0.425 per share
DENVER, Feb. 21, 2013 /PRNewswire/ -- Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") reported net income from continuing operations of $1.9 billion or $3.80 per basic share ($3.78 per share on a fully diluted basis) in 2012, compared with $0.5 billion, or $1.02 per share in 2011. Adjusted net income[1] was $1.9 billion or $3.71 per share in 2012, compared with $2.2 billion, or $4.31 per share a year ago.
Financial Highlights
2012 Financial Results:
Q4 2012 Financial Results:
"We were pleased to return the highest dividends in the gold industry on a per share basis in 2012," said Gary Goldberg, President and Chief Operating Officer. "We will maintain this competitive advantage by focusing on reducing our total cost of production and progressing only the most promising opportunities in our portfolio. These include our Akyem project in Ghana, which will begin production later this year, and advancing the Phase 6 stripping campaign to deliver the next tranche of production from Batu Hijau," added Goldberg.
Management Update
As previously announced, Gary Goldberg will become President and Chief Executive Officer (CEO) and join Newmont's Board of Directors on 1 March 2013. He succeeds Richard O'Brien who will step down as CEO and retire from the Board at that time. Russell Ball, Executive Vice President and Chief Financial Officer (CFO), has also decided to step down and will leave Newmont later this year. He plans to continue in his current capacity to ensure a smooth transition as the company seeks its new CFO.
Other management changes include appointing new leaders and building a team whose skills and experience align with Mr. Goldberg's immediate priorities for Newmont – to take a more disciplined approach to capital allocation and cost control and to restore industry leading social and environmental practices.
These new leaders include: Dr. Elaine Dorward-King, a noted sustainable development expert with 25 years of experience in the mining sector who joins Newmont on 18 March 2013 as Executive Vice President, Sustainability & External Relations; Scott Lawson, Senior Vice President Technical Services, with 27 years of experience in international operations management and technical innovation for the mining sector; and Susan Keefe, Vice President, Strategic Relations, with 25 years of experience in communications and reputation management for the mining sector.
Complementing these new appointments are existing leaders Randy Engel, Executive Vice President, Strategic Development; Bill MacGowan, Executive Vice President, Human Resources and Communications; and Stephen Gottesfeld, Executive Vice President, General Counsel and Corporate Secretary.
"I am excited about working with Newmont leaders to raise our game and deliver greater value to shareholders. I also want to take this opportunity to express our thanks to Richard and Russell for their many contributions to Newmont over their years of service," said Gary Goldberg, President and Chief Operating Officer.
2012 Operating Results and 2013 Outlook
In 2012, the Company reported attributable gold and copper production of 5.0 million ounces and 143 million pounds, respectively, at CAS of $677 per ounce, and $2.34 per pound, respectively, on a co-product basis. Attributable 2012 gold production decreased 4% from 2011 levels due to lower production from Asia Pacific as a result of continued Phase 6 waste mining at Batu Hijau, lower grade and ore availability at Tanami, and mine sequencing at Waihi; and lower production from Africa due to lower mill throughput and grade; partially offset by higher production from South America due to higher mill grade and recovery partially offset by lower leach placement; and higher production from North America due to higher throughput at Mill 6, Juniper Mill, and Twin Creeks Autoclave and the startup of the Emigrant mine.
CAS per gold ounce increased 15% in 2012 compared to 2011 due to lower production from Batu Hijau, Tanami, and Waihi, higher royalty and waste mining costs, partially offset by lower co-product allocation of costs to gold.
Attributable copper pounds produced decreased 27% due to continued Phase 6 waste mining at Batu Hijau, partially offset by higher throughput at Boddington.
CAS per copper pound increased 86% due to lower production from Batu Hijau, higher waste mining at Batu Hijau, higher mill maintenance costs at Boddington, and higher co-product allocation of costs to copper.
2013 attributable gold production is expected to be approximately 4.8 million to 5.1 million ounces, with attributable copper production of 150 to 170 million pounds. The outlook reflects a continuation of lower expected production at Batu Hijau as it continues to process lower grade stockpiled ore during Phase 6 stripping and lower production at Yanacocha, partially offset by new production at Akyem expected in late 2013. CAS for gold is expected to be between $675 and $750 per ounce due to lower production at Batu Hijau and Yanacocha combined with higher expected costs for energy, labor and contracted services. All-in sustaining cost (sum of CAS, copper by-product credits, G&A, exploration expense, advanced projects and R&D, other expense, and sustaining capital) is expected to be between $1,100 and $1,200 per ounce. CAS for copper is expected to be between $2.25 and $2.50 per pound due to lower production at Batu Hijau.
2012 Regional Operating Results and 2013 Outlook
North America
Nevada - Attributable gold production was 478,000 and 1.7 million ounces in the fourth quarter and 2012, respectively. CAS was $580 and $638 per ounce, for the fourth quarter and 2012, respectively.
Fourth quarter attributable gold production decreased 8% from the prior year quarter due to lower tons and grades from Leeville. CAS per ounce increased 12% from the prior year quarter due to lower volumes.
2012 attributable gold ounces produced increased slightly due to higher throughput at Mill 6, Juniper Mill, and the Twin Creeks Autoclave as well as new production from Emigrant, partially offset by lower grade at Phoenix and lower throughput and grade at Midas. CAS per ounce increased 6% due to higher commodity and contractor costs and higher royalties.
La Herradura - Attributable gold production was 48,000 and 212,000 ounces in the fourth quarter and 2012, respectively. CAS was $759 and $621 per ounce in the fourth quarter and 2012, respectively.
Fourth quarter attributable gold production decreased 14% from the prior year quarter due to the timing of leach recoveries, a refinery adjustment, and lower grade ore. CAS per ounce increased 25% from the prior year quarter due to higher waste tons mined and lower by-product credits.
2012 attributable gold production remained essentially unchanged due to new production at Noche Buena; offset by lower leach recoveries. CAS per ounce increased 18% due to higher waste tons mined, higher commodity prices and lower by-product credits.
2013 attributable gold production in North America is expected to be approximately 2.0 to 2.1 million ounces at CAS of approximately $600 to $650 per ounce.
South America
Yanacocha - Attributable gold production was 121,000 and 691,000 ounces in the fourth quarter and 2012, respectively. CAS was $617 and $505 per ounce in the fourth quarter and 2012, respectively.
Fourth quarter attributable gold production decreased 30% from the prior year quarter due to lower mill grade and lower leach placement earlier in the year. Costs applicable to sales per ounce increased 21% from the prior year quarter due to the lower production.
2012 attributable gold ounces produced increased 4% due to higher mill grade and recovery, partially offset by lower leach placement at Yanacocha, Carachugo and La Quinua. Leach tons placed decreased 23% from 43 million tons to 33 million tons. CAS per ounce decreased 10% due to higher production and lower mining costs.
La Zanja - Attributable gold production was 13,000 and 53,000 ounces in the fourth quarter and 2012, respectively. 2012 attributable gold ounces produced decreased 17% from the prior year due to a full year of production from our non-consolidated interest in La Zanja.
2013 attributable gold production in South America is expected to be approximately 550,000-600,000 ounces attributable to Newmont due to a reduction in the mining rate in 2013 and 2014 to maintain a more stable operations workforce and lower grade. CAS is expected to be approximately $600 to $650 per ounce, primarily due to lower production.
Asia Pacific
Boddington - Attributable gold production was 216,000 and 724,000 ounces in the fourth quarter and 2012, respectively. Attributable copper production was 19 million pounds and 67 million pounds in the fourth quarter and 2012, respectively. CAS was $856 and $877 per ounce and $2.23 and $2.29 per pound in the fourth quarter and 2012, respectively.
Fourth quarter attributable gold and copper production increased 7% and decreased 10%, respectively, from the prior year quarter due to higher gold grade and with lower copper recovery. CAS increased 14% per ounce and 21% per pound, respectively, due to a higher strip ratio, higher mill maintenance costs, and the impact of the Australian carbon tax, which took effect in July 2012.
2012 attributable gold and copper production decreased 1% and increased 3%, respectively, essentially in line with 2011. CAS increased 29% per ounce and 13% per pound, respectively, due to a higher strip ratio, higher mill maintenance costs, and the impact of the carbon tax in Australia.
2013 attributable gold and copper production at Boddington is expected to be approximately 700,000-750,000 ounces and 70-80 million pounds, respectively, at CAS of approximately $850 to $950 per ounce and $2.45 to $2.65 per pound, respectively on a co-product basis. 2013 production is expected to be in-line with 2012 levels, while higher operating costs are expected to result from higher mining and labor costs, as well as higher costs for contracted services and supplies.
Batu Hijau - Attributable gold production was 7,000 and 33,000 ounces in the fourth quarter and 2012, respectively. Attributable copper production was 16 million and 76 million pounds in the fourth quarter and 2012, respectively. CAS was $1,292 and $1,071 per ounce and $2.77 and $2.36 per pound on a co-product basis in the fourth quarter and 2012, respectively.
Fourth quarter attributable gold and copper production decreased 56% and 33%, respectively, from the prior year quarter due to lower grade and recovery as a result of processing lower grade stockpiled material. CAS increased 71% per ounce and 85% per pound, respectively, due to lower production, offset by lower royalties.
2012 attributable gold and copper production decreased 78% and 42%, respectively, due to lower grade and recovery as a result of processing primarily lower grade stockpiled material. Waste tons mined increased 26% as Phase 6 waste removal continued as planned. The Company expects to process primarily stockpiled ore until Phase 6 ore becomes the primary mill feed in 2014. CAS increased 125% per ounce and 113% per pound, respectively due to lower production, partially offset by lower royalties.
2013 attributable gold production for Batu Hijau is expected to be approximately 20,000 to 30,000 ounces, at CAS of between $900 and $1,000 per ounce, while attributable copper production is expected to be approximately 75 to 90 million pounds, at CAS of between $2.20 and $2.40 per pound. As previously disclosed[4], Newmont expects to continue processing stockpiled ore until Phase 6 ore becomes the primary mill feed commencing in 2014.
Other Australia/New Zealand - Attributable gold production was 245,000 and 955,000 ounces in the fourth quarter and 2012, respectively. CAS was $961 and $879 per ounce in the fourth quarter and 2012, respectively.
Fourth quarter attributable gold production increased 7% from the prior year quarter due to higher throughput at Jundee, higher grade at Waihi and higher throughput and grade at Tanami. CAS per ounce increased 19% from the prior year quarter due to higher mining and mill maintenance costs at KCGM and the impact of the carbon tax in Australia.
2012 attributable gold production decreased 8% due to lower throughput at Tanami and Waihi, and lower throughput, grade, and recovery at KCGM. CAS per ounce increased 32% due to lower production and higher mining costs.
2013 attributable gold production for Other Australia/New Zealand is expected to be approximately 925,000 to 975,000 ounces, primarily due to slightly higher production at Tanami and Waihi. CAS for Other Australia/New Zealand is expected to increase to approximately $950 to $1,050 per ounce in 2013, primarily driven by higher labor costs.
Beginning in 2013, our Asia Pacific region will be split into two regions, Australia/New Zealand, and Indonesia. The Australia/New Zealand region will include Boddington and Other Australia/New Zealand while the Indonesia region will include Batu Hijau. Gold production for Australia/New Zealand is expected to be approximately 1.6 to 1.7 million ounces attributable to Newmont in 2013 at CAS per ounce of $900 to $1,000.
Africa
Ahafo - Attributable gold production was 123,000 and 561,000 ounces during the fourth quarter and 2012, respectively. CAS was $694 and $596 per ounce for the fourth quarter and 2012, respectively.
Fourth quarter attributable gold production increased 40% from the prior year quarter due to drawdown on in-process inventory compared to build up of prior year quarter, higher grade and recovery. CAS per ounce increased 33% from the prior year quarter due to lower in-process inventory buildup and higher drawdown of finished goods inventory at higher average cost as well as higher power and labor cost.
2012 attributable gold production decreased 1% due to lower throughput and grade, largely offset by higher drawdown of in-circuit inventory. CAS per ounce increased 26% due to higher labor, commodity, and royalty costs.
2013 attributable gold production for the Africa operations is expected to increase to approximately 625,000 to 675,000 ounces due to the new production from Akyem in late 2013 at CAS of approximately $525 to $575 per ounce.
Capital Update
Consolidated capital expenditures were $3.2 billion in 2012, up from $3.0 billion in 2011. Attributable capital expenditures were $2.5 billion in 2012, up from $2.3 billion in 2011. Approximately $1.0 billion was spent on major projects in 2012, such as Akyem in Ghana, and equipment, engineering of reservoirs, and demobilization of workforce at Conga, with the balance largely attributed to sustaining capital. The Company currently expects to invest approximately $2.1 to $2.3 billion in attributable capital expenditures in 2013. Approximately 40% of this is allocated to development capital, including at the Akyem project (~$250 million), Ahafo Mill Expansion (~$150 million) the Conga project (~$150 million), and other expansion projects in Nevada (~$260 million) and at La Herradura (~$40 million), with the remaining 60% expected to be spent on sustaining capital.
Newmont's investment priorities include completing construction of Akyem in 2013, finishing the Phase 6 stripping campaign at Batu Hijau during 2013 and 2014, and identifying the best paths forward for Conga in Peru and Tanami in Australia. The Company expects consolidated capital expenditures to decrease from 2012 to 2013 by approximately 15-20%, excluding capitalized interest, as declining capital commitments for Conga, Akyem, and Tanami are partially offset by increasing development capital for the Ahafo Mill Expansion in Ghana as well as the Phoenix Copper Leach in Nevada. Additional capital investment is also possible at the Merian project in Suriname in 2013 pending the outcome of further dialogue with the government and additional project evaluation.
Advanced Projects Update
Consolidated advanced projects, research and development expenditures were $348 million in 2012, down from $373 million in 2011. The Company currently plans to spend approximately $350 to $400 million in advanced projects in 2013 on a consolidated basis, or $300 to $350 on an attributable basis, focused primarily on Long Canyon in Nevada, Elang in Indonesia, and the Subika expansion in Africa.
2013 Outlook[5],[6] | |||||||
Attributable Production (Kozs, Mlbs) | Consolidated CAS ($/oz, $/lb) b | Consolidated Capital Expenditures ($M) c | Attributable Capital Expenditures ($M) c | ||||
Region | |||||||
Nevada a | 1,700 - 1,800 | $600 - $650 | $600 - $650 | $600 - $650 | |||
La Herradura | 225 - 275 | $650 - $700 | $125 - $175 | $125 - $175 | |||
North America | 1,950 - 2,050 | $600 - $650 | $750 - $800 | $750 - $800 | |||
Yanacocha | 475 - 525 | $600 - $650 | $225 - $275 | $100 - $150 | |||
La Zanja | 40 - 50 | - | - | - | |||
Conga | - | - | $250 - $300 | $125 - $175 | |||
South America | 550 - 600 | $600 - $650 | $550 - $600 | $250 - $300 | |||
Boddington | 700 - 750 | $850 - $950 | $125 - $175 | $125 - $175 | |||
Other Australia/NZ | 925 - 975 | $950 - $1,050 | $225 - $275 | $225 - $275 | |||
Australia/New Zealand | 1,625 - 1,725 | $900 - $1,000 | $375 - $425 | $375 - $425 | |||
Batu Hijau, Indonesiad | 20 - 30 | $900 - $1,000 | $75 - $125 | $25 - $75 | |||
Ahafo | 525 - 575 | $550 - $600 | $375 - $425 | $375 - $425 | |||
Akyem | 50 - 100 | $450 - $500 | $225 - $275 | $225 - $275 | |||
Africa | 625 - 675 | $525 - $575 | $650 - $700 | $650 - $700 | |||
Corporate/Other | - | - | $20 - $30 | $20 - $30 | |||
Total Gold | 4,800 - 5,100 | $675 - $750 | $2,400 - $2,600 | $2,100 - $2,300 | |||
Boddington | 70 - 80 | $2.45 - $2.65 | - | - | |||
Batu Hijau | 75 - 90 | $2.20 - $2.40 | - | - | |||
Total Copper | 150 - 170 | $2.25 - $2.50 | |||||
aNevada CAS includes by-product credits from an estimated 30-40 million pounds of copper production at Phoenix, net of treatment and refining charges. | |||||||
b 2013 Attributable CAS Outlook is $700 - $750 per ounce. | |||||||
cExcludes capitalized interest of approximately $142 million, consolidated and attributable. | |||||||
d Assumes Batu Hijau economic interest of 44.56% for 2013, subject to final divestiture obligations. |
2013 Expense Outlook | ||||
Description | Consolidated Expenses ($M) | Attributable Expenses ($M) | ||
General & Administrative | $200 - $250 | $200 - $250 | ||
DD&A | $1,050 - $1,100 | $850 - $900 | ||
Exploration Expense | $250 - $300 | $225 - $275 | ||
Advanced Projects & R&D | $350 - $400 | $300 - $350 | ||
Other Expense | $200 - $250 | $150 - $200 | ||
Sustaining Capital | $1,400 - $1,500 | $1,200 - $1,300 | ||
Interest Expense | $200 - $250 | $175 - $225 | ||
Tax Rate | 30% - 32% | 30% - 32% | ||
All-in sustaining cost ($/ounce)a,b,c | $1,100 - $1,200 | $1,100 - $1,200 | ||
Key Assumptions | ||||
Gold Price ($/ounce) | $1,500 | $1,500 | ||
Copper Price ($/pound) | $3.50 | $3.50 | ||
Oil Price ($/barrel) | $90 | $90 | ||
AUD Exchange Rate | $1.00 | $1.00 | ||
a All-in sustaining cost is a non-GAAP metric defined by the Company as the sum of costs applicable to sales, copper by-product credits, G&A, exploration expense, advanced projects and R&D, other expense, and sustaining capital. | ||||
bAll-in sustaining cost per ounce is calculated by dividing all-in sustaining cost by the midpoint of estimated sales, less non-consolidated interests in La Zanja and Duketon and development ounces. | ||||
cThe Company's methodology for calculating all-in sustaining costs was developed independently, and is subject to change due to a number of factors including the possible adoption of formal industry guidelines from the World Gold Council. |
STATEMENTS OF CONSOLIDATED INCOME | ||||||||||||
Years Ended December 31, | ||||||||||||
2012 | 2011 | 2010 | ||||||||||
(in millions, except per share) | ||||||||||||
Sales | $ | 9,868 | $ | 10,358 | $ | 9,540 | ||||||
Costs and expenses | ||||||||||||
Costs applicable to sales(1) | 4,238 | 3,890 | 3,484 | |||||||||
Amortization | 1,032 | 1,036 | 945 | |||||||||
Reclamation and remediation | 96 | 120 | 65 | |||||||||
Exploration | 356 | 350 | 218 | |||||||||
Advanced projects, research and development | 348 | 373 | 216 | |||||||||
General and administrative | 212 | 198 | 178 | |||||||||
Write-down of property, plant and mine development | 52 | 2,084 | 6 | |||||||||
Other expense, net | 449 | 265 | 261 | |||||||||
6,783 | 8,316 | 5,373 | ||||||||||
Other income (expense) | ||||||||||||
Other income, net | 278 | 12 | 109 | |||||||||
Interest expense, net of capitalized interest of $107, $52 and $21,respectively | ||||||||||||
(249) | (244) | (279) | ||||||||||
29 | (232) | (170) | ||||||||||
Income before income and mining tax and other items | 3,114 | 1,810 | 3,997 | |||||||||
Income and mining tax expense | (869) | (713) | (856) | |||||||||
Equity income (loss) of affiliates | (51) | 11 | 3 | |||||||||
Income from continuing operations | 2,194 | 1,108 | 3,144 | |||||||||
Loss from discontinued operations | (76) | (136) | (28) | |||||||||
Net income | 2,118 | 972 | 3,116 | |||||||||
Net income attributable to noncontrolling interests | (309) | (606) | (839) | |||||||||
Net income attributable to Newmont stockholders | $ | 1,809 | $ | 366 | $ | 2,277 | ||||||
Net income (loss) attributable to Newmont stockholders: | ||||||||||||
Continuing operations | $ | 1,885 | $ | 502 | $ | 2,305 | ||||||
Discontinued operations | (76) | (136) | (28) | |||||||||
$ | 1,809 | $ | 366 | $ | 2,277 | |||||||
Income (loss) per common share | ||||||||||||
Basic: | ||||||||||||
Continuing operations | $ | 3.80 | $ | 1.02 | $ | 4.69 | ||||||
Discontinued operations | (0.15) | (0.28) | (0.06) | |||||||||
$ | 3.65 | $ | 0.74 | $ | 4.63 | |||||||
Diluted: | ||||||||||||
Continuing operations | $ | 3.78 | $ | 1.00 | $ | 4.61 | ||||||
Discontinued operations | (0.15) | (0.27) | (0.06) | |||||||||
$ | 3.63 | $ | 0.73 | $ | 4.55 | |||||||
Cash dividends declared per common share | $ | 1.40 | $ | 1.00 | $ | 0.50 | ||||||
(1) Excludes Amortization and Reclamation and remediation. |
CONSOLIDATED CASH FLOWS | ||||||||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||
2012 | 2011 | 2012 | 2011 | |||||||||||
Operating activities: | ||||||||||||||
Net income | $ | 697 | $ | (897) | $ | 2,118 | $ | 972 | ||||||
Adjustments: | ||||||||||||||
Amortization | 281 | 260 | 1,032 | 1,036 | ||||||||||
Stock based compensation and other non-cash benefits | 17 | 17 | 72 | 79 | ||||||||||
Reclamation and remediation | 47 | 38 | 96 | 101 | ||||||||||
Revaluation of contingent consideration | 12 | 1 | 12 | 1 | ||||||||||
Loss from discontinued operations | (28) | - | 76 | 136 | ||||||||||
Write-down of property, plant and mine development | 58 | 2,082 | 52 | 2,084 | ||||||||||
Impairment of marketable securities | 8 | 5 | 47 | 180 | ||||||||||
Deferred income taxes | (10) | (565) | 15 | (671) | ||||||||||
Gain on asset sales, net | (95) | (13) | (107) | (81) | ||||||||||
Other operating adjustments and write-downs | (107) | (35) | 48 | 65 | ||||||||||
Net change in operating assets and liabilities | (34) | 32 | (1,073) | (311) | ||||||||||
Net cash provided from continuing operations | 846 | 925 | 2,388 | 3,591 | ||||||||||
Net cash used in discontinued operations | (4) | (3) | (16) | (7) | ||||||||||
Net cash provided from operations | 842 | 922 | 2,372 | 3,584 | ||||||||||
Investing activities: | ||||||||||||||
Additions to property, plant and mine development | (816) | (1,006) | (3,210) | (2,787) | ||||||||||
Acquisitions, net | (3) | (8) | (25) | (2,309) | ||||||||||
Sale of marketable securities | 1 | 7 | 210 | 81 | ||||||||||
Purchases of marketable securities | (11) | (4) | (220) | (21) | ||||||||||
Proceeds from sale of other assets | 28 | 3 | 41 | 9 | ||||||||||
Other | (12) | (31) | (60) | (40) | ||||||||||
Net cash used in investing activities | (813) | (1,039) | (3,264) | (5,067) | ||||||||||
Financing activities: | ||||||||||||||
Proceeds from debt, net | 181 | 213 | 3,524 | 2,011 | ||||||||||
Repayment of debt | (20) | (187) | (1,976) | (2,273) | ||||||||||
Payment of conversion premium on debt | - | - | (172) | - | ||||||||||
Proceeds from stock issuance, net | 4 | 5 | 24 | 40 | ||||||||||
Acquisition of noncontrolling interests | (10) | - | (10) | - | ||||||||||
Dividends paid to noncontrolling interests | - | (100) | (3) | (117) | ||||||||||
Dividends paid to common stockholders | (174) | (173) | (695) | (494) | ||||||||||
Other | (1) | (24) | (3) | (21) | ||||||||||
Net cash provided from (used in) financing activities | (20) | (266) | 689 | (854) | ||||||||||
Effect of exchange rate changes on cash | 3 | 8 | 4 | 41 | ||||||||||
Net change in cash and cash equivalents | 12 | (375) | (199) | (2,296) | ||||||||||
Cash and cash equivalents at beginning of period | 1,549 | 2,135 | 1,760 | 4,056 | ||||||||||
Cash and cash equivalents at end of period | $ | 1,561 | $ | 1,760 | $ | 1,561 | $ | 1,760 |
CONSOLIDATED BALANCE SHEETS | |||||||||
At December 31, | At December 31, | ||||||||
2012 | 2011 | ||||||||
(in millions) | |||||||||
ASSETS | |||||||||
Cash and cash equivalents | $ | 1,561 | $ | 1,760 | |||||
Trade receivables | 283 | 300 | |||||||
Accounts receivable | 577 | 320 | |||||||
Investments | 86 | 94 | |||||||
Inventories | 796 | 714 | |||||||
Stockpiles and ore on leach pads | 786 | 671 | |||||||
Deferred income tax assets | 195 | 396 | |||||||
Other current assets | 1,661 | 1,133 | |||||||
Current assets | 5,945 | 5,388 | |||||||
Property, plant and mine development, net | 18,010 | 15,881 | |||||||
Investments | 1,446 | 1,472 | |||||||
Stockpiles and ore on leach pads | 2,896 | 2,271 | |||||||
Deferred income tax assets | 481 | 242 | |||||||
Other long-term assets | 872 | 857 | |||||||
Total assets | $ | 29,650 | $ | 26,111 | |||||
LIABILITIES | |||||||||
Debt | $ | 10 | $ | 689 | |||||
Accounts payable | 657 | 561 | |||||||
Employee-related benefits | 339 | 307 | |||||||
Income and mining taxes | 51 | 250 | |||||||
Other current liabilities | 2,084 | 2,133 | |||||||
Current liabilities | 3,141 | 3,940 | |||||||
Debt | 6,288 | 3,624 | |||||||
Reclamation and remediation liabilities | 1,457 | 1,169 | |||||||
Deferred income tax liabilities | 858 | 784 | |||||||
Employee-related benefits | 586 | 459 | |||||||
Other long-term liabilities | 372 | 364 | |||||||
Total liabilities | 12,702 | 10,340 | |||||||
EQUITY | |||||||||
Common stock - $1.60 par value; | 787 | 784 | |||||||
Authorized - 750 million shares | |||||||||
Issued and outstanding - | |||||||||
Common: 492 million and 490 million shares issued, less 277,000 and 273,000 treasury shares, respectively | |||||||||
Exchangeable: 56 million shares issued, less 51 million and 51 million redeemed shares, respectively | |||||||||
Additional paid-in capital | 8,330 | 8,408 | |||||||
Accumulated other comprehensive income (Note 25) | 490 | 652 | |||||||
Retained earnings | 4,166 | 3,052 | |||||||
Newmont stockholders' equity | 13,773 | 12,896 | |||||||
Noncontrolling interests | 3,175 | 2,875 | |||||||
Total equity | 16,948 | 15,771 | |||||||
Total liabilities and equity | $ | 29,650 | $ | 26,111 | |||||
Regional Operating Statistics | |||||||
Production Statistics Summary | |||||||
Three Months Ended December 31, | Years Ended December 31, | ||||||
2012 | 2011 | 2012 | 2011 | ||||
Gold | |||||||
Consolidated ounces produced (thousands): | |||||||
North America | |||||||
Nevada | 478 | 522 | 1,748 | 1,738 | |||
La Herradura | 48 | 56 | 212 | 212 | |||
526 | 578 | 1,960 | 1,950 | ||||
South America | |||||||
Yanacocha | 236 | 335 | 1,346 | 1,293 | |||
Asia Pacific | |||||||
Boddington | 216 | 201 | 724 | 730 | |||
Batu Hijau | 14 | 32 | 68 | 308 | |||
Other Australia/New Zealand | 230 | 224 | 924 | 1,026 | |||
460 | 457 | 1,716 | 2,064 | ||||
Africa | |||||||
Ahafo | 123 | 88 | 561 | 566 | |||
1,345 | 1,458 | 5,583 | 5,873 | ||||
Copper | |||||||
Consolidated pounds produced (millions): | |||||||
Asia Pacific | |||||||
Boddington | 19 | 21 | 67 | 65 | |||
Batu Hijau | 33 | 49 | 157 | 273 | |||
52 | 70 | 224 | 338 | ||||
Gold | |||||||
Attributable ounces produced (thousands): | |||||||
North America | |||||||
Nevada | 478 | 522 | 1,748 | 1,738 | |||
La Herradura | 48 | 56 | 212 | 212 | |||
526 | 578 | 1,960 | 1,950 | ||||
South America | |||||||
Yanacocha | 121 | 172 | 691 | 664 | |||
Other South America Equity Interests | 13 | 15 | 53 | 64 | |||
134 | 187 | 744 | 728 | ||||
Asia Pacific | |||||||
Boddington | 216 | 201 | 724 | 730 | |||
Batu Hijau | 7 | 16 | 33 | 149 | |||
Other Australia/New Zealand | 230 | 224 | 924 | 1,026 | |||
Other Asia Pacific Equity Interests | 15 | 5 | 31 | 17 | |||
468 | 446 | 1,712 | 1,922 | ||||
Africa | |||||||
Ahafo | 123 | 88 | 561 | 566 | |||
1,251 | 1,299 | 4,977 | 5,166 | ||||
Copper | |||||||
Attributable pounds produced (millions): | |||||||
Asia Pacific | |||||||
Boddington | 19 | 21 | 67 | 65 | |||
Batu Hijau | 16 | 24 | 76 | 132 | |||
35 | 45 | 143 | 197 |
CAS and Capital Expenditures | |||||||||||
Three Months Ended December 31, | Years Ended December 31, | ||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||
Gold | |||||||||||
Costs Applicable to Sales ($/ounce)(1) | |||||||||||
North America | |||||||||||
Nevada | $ | 580 | $ | 519 | $ | 638 | $ | 603 | |||
La Herradura | 759 | 609 | 621 | 527 | |||||||
596 | 527 | 636 | 594 | ||||||||
South America | |||||||||||
Yanacocha | 617 | 511 | 505 | 560 | |||||||
Asia Pacific | |||||||||||
Boddington | 856 | 749 | 877 | 682 | |||||||
Batu Hijau | 1,292 | 754 | 1,071 | 476 | |||||||
Other Australia/New Zealand | 961 | 807 | 879 | 664 | |||||||
925 | 778 | 886 | 639 | ||||||||
Africa | |||||||||||
Ahafo | 694 | 520 | 596 | 474 | |||||||
Average | $ | 720 | $ | 602 | $ | 677 | $ | 591 | |||
Attributable to Newmont | $ | 726 | $ | 608 | $ | 698 | $ | 597 | |||
Copper | |||||||||||
Costs Applicable to Sales ($/pound)(1) | |||||||||||
Asia Pacific | |||||||||||
Boddington | $ | 2.23 | $ | 1.84 | $ | 2.29 | $ | 2.03 | |||
Batu Hijau | 2.77 | 1.50 | 2.36 | 1.11 | |||||||
Average | $ | 2.61 | $ | 1.58 | $ | 2.34 | $ | 1.26 | |||
Attributable to Newmont | $ | 2.52 | $ | 1.64 | $ | 2.33 | $ | 1.37 | |||
(1)Consolidated Costs applicable to sales excludes Amortization and Reclamation and remediation. | |||||||||||
Three Months Ended December 31, | Years Ended December 31, | ||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||
Consolidated Capital Expenditures ($ million) | |||||||||||
North America | |||||||||||
Nevada | $ | 157 | $ | 179 | $ | 677 | $ | 559 | |||
La Herradura | 39 | 26 | 89 | 81 | |||||||
Other North America | - | 27 | - | 101 | |||||||
196 | 232 | 766 | 741 | ||||||||
South America | |||||||||||
Yanacocha | 118 | 116 | 510 | 360 | |||||||
Conga | 115 | 291 | 582 | 739 | |||||||
Other South America | 10 | 19 | |||||||||
243 | 407 | 1,111 | 1,099 | ||||||||
Asia Pacific | |||||||||||
Boddington | 64 | 95 | 141 | 217 | |||||||
Batu Hijau | 50 | 47 | 148 | 196 | |||||||
Other Australia/New Zealand | 63 | 82 | 277 | 294 | |||||||
Other Asia Pacific | 7 | 10 | 19 | 18 | |||||||
184 | 234 | 585 | 725 | ||||||||
Africa | |||||||||||
Ahafo | 52 | 45 | 228 | 116 | |||||||
Akyem | 83 | 121 | 388 | 248 | |||||||
135 | 166 | 616 | 364 | ||||||||
Corporate and Other | 7 | 12 | 74 | 35 | |||||||
Total - Accrual Basis | $ | 765 | $ | 1,051 | $ | 3,152 | $ | 2,964 | |||
Change in Capital Accrual | 51 | (45) | 58 | (177) | |||||||
Total - Cash Basis | $ | 816 | $ | 1,006 | $ | 3,210 | $ | 2,787 | |||
Attributable to Newmont (Accrual Basis) | $ | 621 | $ | 829 | $ | 2,535 | $ | 2,328 |
Supplemental Information
Non-GAAP Financial Measures
Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by generally accepted accounting principles ("GAAP"). These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.
Reconciliation of Adjusted Net Income to GAAP Net Income
Management of the Company uses 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 analysts.
Net income attributable to Newmont stockholders is reconciled to Adjusted net income as follows:
Three months ended | Years ended | ||||
December 31, | December 31, | ||||
(in millions except per share, after-tax) | 2012 | 2011 | 2012 | 2011 | |
GAAP Net income (1) | $ 673 | $(1,028) | $1,809 | $ 366 | |
Loss from discontinued operations | (28) | - | 76 | 136 | |
Restructuring and other | 6 | - | 26 | - | |
Boddington contingent consideration | - | 1 | 8 | 1 | |
Acquisition costs | - | - | - | 18 | |
Income tax benefit from internal restructuring | (59) | - | (59) | (65) | |
Impairments/asset sales, net | (40) | 1,604 | (10) | 1,714 | |
Adjusted net income | $ 552 | $ 577 | $1,850 | $2,170 | |
Adjusted net income per share, basic | $1.11 | $ 1.17 | $ 3.73 | $ 4.39 | |
Adjusted net income per share, diluted | $1.11 | $ 1.14 | $ 3.71 | $ 4.31 | |
(1) Attributable to Newmont stockholders. |
All-in Sustaining Costs per ounce | |||||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||
Costs applicable to sales | $ | 1,131 | $ | 1,025 | $ | 4,238 | $ | 3,890 | |||
G&A Expense | $ | 50 | $ | 53 | $ | 212 | $ | 198 | |||
Exploration Expense | $ | 47 | $ | 95 | $ | 356 | $ | 350 | |||
Advanced Projects and R&D Expense | $ | 90 | $ | 126 | $ | 348 | $ | 373 | |||
Other Expense(1) | $ | 47 | $ | 52 | $ | 235 | $ | 226 | |||
Sustaining Capital | $ | 434 | $ | 527 | $ | 1,678 | $ | 1,629 | |||
Copper By-product Credit | $ | (216) | $ | (271) | $ | (785) | $ | (1,262) | |||
All-in Sustaining Cost ($M) | $ | 1,583 | $ | 1,607 | $ | 6,282 | $ | 5,404 | |||
Consolidated Gold sold (thousand ounces): | 1,328 | 1,493 | 5,466 | 5,820 | |||||||
All-in Sustaining Cost per ounce ($/oz) | $ | 1,192 | $ | 1,076 | $ | 1,149 | $ | 929 | |||
(1) Other Expense is adjusted for Hope Bay care and maintenance of $144, $17, $15, and $17; Restructuring and other charges of $58, $0, $10, and $0; and Acquisition costs of $12, $22, $0, and $0 for 2012, 2011, Q4 2012 and Q4 2011, respectively. |
CAS per Ounce/Pound
CAS per ounce/pound are non-GAAP financial measures. These measures are calculated by dividing the CAS 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 CAS is 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 non-controlling interest. We include attributable CAS per ounce/pound to provide management, investors and analysts with information with which to compare our performance to other gold producers. CAS 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 CAS 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 of 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.
CAS per ounce/pound | ||||||||||||||||||
Gold(1) | Copper(2) | |||||||||||||||||
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||
2012 | 2011 | 2010 | 2012 | 2011 | 2010 | |||||||||||||
CAS: | ||||||||||||||||||
Consolidated per financial statements | $ | 3,703 | $ | 3,440 | $ | 3,054 | $ | 535 | $ | 450 | $ | 430 | ||||||
Noncontrolling interests(3) | (362) | (442) | (395) | (198) | (171) | (169) | ||||||||||||
Attributable to Newmont | $ | 3,341 | $ | 2,998 | $ | 2,659 | $ | 337 | $ | 279 | $ | 261 | ||||||
Gold/Copper sold (thousand ounces/million pounds): | ||||||||||||||||||
Consolidated | 5,466 | 5,820 | 6,296 | 229 | 356 | 539 | ||||||||||||
Noncontrolling interests(3) | (679) | (795) | (1,043) | (84) | (153) | (247) | ||||||||||||
Attributable to Newmont(4) | 4,787 | 5,025 | 5,253 | 145 | 203 | 292 | ||||||||||||
CAS per ounce/pound: | ||||||||||||||||||
Consolidated | $ | 677 | $ | 591 | $ | 485 | $ | 2.34 | $ | 1.26 | $ | 0.80 | ||||||
Attributable to Newmont | $ | 698 | $ | 597 | $ | 506 | $ | 2.33 | $ | 1.37 | $ | 0.89 | ||||||
(1)Consolidated CAS per financial statements includes by-product credits of $231, $291 and $245 for 2012, 2011 and 2010, respectively. | ||||||||||||||||||
(2)Consolidated CAS per financial statements includes by-product credits of $11, $28 and $29 for 2012, 2011 and 2010, respectively. | ||||||||||||||||||
(3)Relates to partners' interests in Batu Hijau and Yanacocha. | ||||||||||||||||||
(4)Does not include any sales from our non-consolidated interests in LaZanja and Duketon. |
Net attributable CAS per ounce | ||||||||||
Years Ended December 31, | ||||||||||
2012 | 2011 | 2010 | ||||||||
Attributable CAS: | ||||||||||
Gold | $ | 3,341 | $ | 2,998 | $ | 2,659 | ||||
Copper | 337 | 279 | 261 | |||||||
3,678 | 3,277 | 2,920 | ||||||||
Copper revenue: | ||||||||||
Consolidated | (785) | (1,262) | (1,848) | |||||||
Noncontrolling interests(1) | 289 | 542 | 847 | |||||||
(496) | (720) | (1,001) | ||||||||
Net attributable CAS | $ | 3,182 | $ | 2,557 | $ | 1,919 | ||||
Attributable gold ounces sold (thousands) | 4,787 | 5,025 | 5,253 | |||||||
Net attributable CAS per ounce | $ | 665 | $ | 509 | $ | 365 | ||||
(1)Relates to partners' interests in Batu Hijau. |
Conference Call Information
Newmont Mining Corporation (NYSE: NEM) announced it will report Fourth Quarter and Year-End 2012 results after the market closes on Thursday, February 21, 2013. A conference call will be held on Friday, February 22, 2013 at 10:00 a.m. Eastern Time (8:00 a.m. Mountain Time); it will also be carried on the Company's website.
Conference Call Details | ||
Dial-In Number | 888.566.1822 | |
Intl Dial-In Number | 312.470.7116 | |
Leader | John Seaberg | |
Passcode | Newmont | |
Replay Number | 866.380.6745 | |
Intl Replay Number | 203.369.0348 | |
Replay Passcode | 2013 | |
Webcast Details | ||
URL | http://services.choruscall.com/links/newmont130222.html |
Cautionary Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation: (i) estimates of future production and sales; (ii) estimates of future CAS; (iii) estimates of future consolidated and attributable capital expenditures, CAS, and all-in sustaining cost; and (iv)
expectations regarding the development, growth and exploration potential of the Company's projects. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the Company's projects being consistent with current expectations and mine plans; (iii) political developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar to the U.S. dollar, as well as other the exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper and
oil; (vi) prices for key supplies being approximately consistent with current levels; and (vii) the accuracy of our current mineral reserve and mineral resource estimates. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such 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 the "forward-looking statements". Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational risks, community relations, conflict resolution and outcome of
projects or oppositions and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company's 2012 Form 10-K, filed on February 22, 2013, with the Securities and Exchange Commission, as well as the Company's other SEC filings. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. Continued reliance on "forward-looking statements" is at investors' own
risk.
[1] Non-GAAP measure. See page 13 for reconciliation.
[2] Attributable gold CAS was $698 per ounce for 2012.
[3] Non-GAAP measure. See page 13 for reconciliation.
[4] Please see Newmont's Form 10-K filed on February 21, 2013.
[5] Outlook referenced in the table above and elsewhere in this release is based upon management's good faith estimates as of February 21, 2013 and are considered "forward-looking statements." References to outlook guidance are based on current mine plans, assumptions noted above and current geotechnical, metallurgical, hydrological and other physical conditions, which are subject to risk and uncertainty as discussed in the "Cautionary Statement" on page 15 and in the section entitled "Risk Factors" in the Company's form 10-K.
[6] 2013 Annual
CAS, inclusive of hedge gains and losses, are expected to change by approximately $13 per ounce for every $10 change in the oil price and by approximately $6 per ounce for every $0.10 change in the Australian dollar exchange rate.
CONTACT: Media, Omar Jabara, +1-303-837-5114, omar.jabara@newmont.com, or Diane Reberger, +1-303-967-9455, diane.reberger@newmont.com, or Investors, John Seaberg, +1-303-837-5743, john.seaberg@newmont.com, or Karli Anderson, +1-303-837-6049, karli.anderson@newmont.com
Newmont Increases Gold Reserves to 99.2 Million Ounces and Reports Copper Reserves at 9.5 Billion Pounds
Newmont also Added New Reserves at Merian and New Resources at Long Canyon
DENVER, Feb. 21, 2013 /PRNewswire/ -- Newmont Mining Corporation (NYSE: NEM) ("Newmont" or "the Company") today announced it increased attributable gold reserves by 0.4 million ounces, net of depletion, to 99.2 million ounces in 2012. Highlights include:
"We are pleased to announce 6.6 million ounces of gold reserve additions in 2012 at higher grades than depleted, with 2.9 million ounces of new reserves declared at Merian in Suriname," said Gary Goldberg, President and Chief Operating Officer. "We also declared 2.6 million ounces of gold inferred resource at Long Canyon in Nevada," Goldberg added.
Gold and copper reserves1 were calculated at $1,400 per ounce, and $3.25 per pound, respectively. A $100 increase in gold price would result in an approximate 2.8% increase in gold reserves while a $100 decrease in gold price would result in an approximate 7.6% decrease in gold reserves. Gold and copper price related reserve additions accounted for 1.5 million ounces of gold and approximately 0.1 billion pounds of copper in 2012, as highlighted in the following charts.
1For detailed information on the Company's year-end attributable Proven and Probable Reserves and Measured, Indicated and Inferred Resources, please refer to the Supplemental Information and the cautionary statement at the end of this release.
(Photo: http://photos.prnewswire.com/prnh/20130221/LA64354-INFO-a)
Attributable measured and indicated gold resources for 2012 were 22.3 million ounces. In addition, attributable inferred gold resources were 17.9 million ounces. Attributable measured and indicated copper resources for 2012 were 2.2 billion pounds. In addition, attributable inferred copper resources were 970 million pounds. Gold and copper resources were calculated using prices of $1,600 per ounce and $3.50 per pound, respectively.
Attributable proven and probable silver reserves for 2012 were 186 million ounces. Attributable measured and indicated silver resources for 2012 were 53 million ounces, with additional inferred silver resources of 35 million ounces. Silver reserves and resources were calculated using prices of $30 and $35 per ounce, respectively.
Exploration: 2013 Planned Activity
Newmont's 2013 attributable exploration budget is $249 million, with over 40% allocated to North America, and the balance split between Asia Pacific, Africa, South America, and other strategic programs, as shown in the chart below. Of the total attributable exploration budget, approximately three quarters is expected to be focused on brownfields exploration activity, with the balance targeted on greenfields programs.
(Photo: http://photos.prnewswire.com/prnh/20130221/LA64354-INFO-b)
22013 Opportunity Fund budget to be allocated regionally to the highest ranking projects identified throughout the course of the year, consistent with prior year practice.
Reserve and Resource Tables
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 SEC 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 included in this release 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 and silver 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.
The Measured, Indicated, and Inferred resource figures presented herein are estimates based on information available at the time of calculation and are exclusive of reserves. A 'Mineral Resource' is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. Ounces of gold and silver or pounds of copper included in the Measured, Indicated and Inferred resources are calculated without regard to any losses during metallurgical treatment. Market fluctuations in the price of gold and copper, as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources.
We publish reserves and resources annually, and will recalculate reserves and resources at December 31, 2013, 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 2013.
Attributable Proven, Probable, and Combined Gold Reserves(1),U.S Units | ||||||||||||||||||
December 31, 2012 | December 31, 2011 | |||||||||||||||||
Deposits/Districts by Reporting Unit | Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery | Proven + Probable Reserves | |||||||||||||
Newmont Share | Tonnage | Grade | Gold | Tonnage | Grade | Gold | Tonnage | Grade | Gold | Tonnage | Grade | Gold | ||||||
(x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | |||||||
North America | ||||||||||||||||||
Carlin Open Pits, Nevada | 100% | 82,100 | 0.059 | 4,810 | 231,100 | 0.030 | 6,840 | 313,200 | 0.037 | 11,650 | 74% | 331,700 | 0.038 | 12,620 | ||||
Carlin Underground, Nevada | 100% | 14,500 | 0.252 | 3,650 | 9,000 | 0.285 | 2,580 | 23,500 | 0.265 | 6,230 | 86% | 18,000 | 0.282 | 5,090 | ||||
Midas, Nevada | 100% | 200 | 0.191 | 30 | 400 | 0.055 | 20 | 600 | 0.095 | 50 | 90% | 800 | 0.226 | 160 | ||||
Phoenix, Nevada | 100% | 22,700 | 0.019 | 440 | 417,200 | 0.017 | 6,990 | 439,900 | 0.017 | 7,430 | 73% | 447,100 | 0.016 | 7,250 | ||||
Twin Creeks, Nevada | 100% | 7,100 | 0.101 | 720 | 51,200 | 0.052 | 2,680 | 58,300 | 0.058 | 3,400 | 80% | 48,300 | 0.078 | 3,780 | ||||
Turquoise Ridge, Nevada(2) | 25% | 2,200 | 0.396 | 860 | 2,900 | 0.370 | 1,080 | 5,100 | 0.381 | 1,940 | 92% | 4,000 | 0.442 | 1,760 | ||||
Nevada In-Process(3) | 100% | 25,500 | 0.018 | 450 | 0 | 0 | 25,500 | 0.018 | 450 | 64% | 23,000 | 0.020 | 460 | |||||
Nevada Stockpiles(4) | 100% | 68,900 | 0.055 | 3,830 | 3,400 | 0.026 | 90 | 72,300 | 0.054 | 3,920 | 75% | 68,200 | 0.052 | 3,530 | ||||
Total Nevada | 223,200 | 0.066 | 14,790 | 715,200 | 0.028 | 20,280 | 938,400 | 0.037 | 35,070 | 77% | 941,100 | 0.037 | 34,650 | |||||
La Herradura, Mexico | 44% | 85,500 | 0.017 | 1,470 | 72,600 | 0.016 | 1,140 | 158,100 | 0.017 | 2,610 | 67% | 111,400 | 0.021 | 2,330 | ||||
TOTAL NORTH AMERICA | 308,700 | 0.053 | 16,260 | 787,800 | 0.027 | 21,420 | 1,096,500 | 0.034 | 37,680 | 77% | 1,052,500 | 0.035 | 36,980 | |||||
South America | ||||||||||||||||||
Conga, Peru(5) | 51.35% | 0 | 0 | 303,400 | 0.021 | 6,460 | 303,400 | 0.021 | 6,460 | 75% | 303,400 | 0.021 | 6,460 | |||||
Yanacocha Open Pits(6) | 51.35% | 23,000 | 0.057 | 1,310 | 73,400 | 0.014 | 1,050 | 96,400 | 0.024 | 2,360 | 73% | 119,900 | 0.030 | 3,570 | ||||
Yanacocha In-Process(3) | 51.35% | 8,600 | 0.026 | 220 | 0 | 0 | 8,600 | 0.026 | 220 | 78% | 15,200 | 0.025 | 390 | |||||
Yanacocha Stockpiles(4) | 51.35% | 8,400 | 0.054 | 460 | 0 | 0 | 8,400 | 0.054 | 460 | 60% |
Not Disclosed in 2011 | |||||||
Total Yanacocha, Peru | 51.35% | 40,000 | 0.050 | 1,990 | 73,400 | 0.014 | 1,050 | 113,400 | 0.027 | 3,040 | 72% | 135,100 | 0.029 | 3,960 | ||||
La Zanja, Peru(7) | 46.94% | 1,700 | 0.021 | 40 | 10,800 | 0.017 | 190 | 12,500 | 0.018 | 230 | 66% | 21,400 | 0.016 | 330 | ||||
Merian, Suriname(8) | 80% | 0 | 0 | 79,800 | 0.036 | 2,850 | 79,800 | 0.036 | 2,850 | 93% | ||||||||
TOTAL SOUTH AMERICA | 41,700 | 0.048 | 2,030 | 467,400 | 0.023 | 10,550 | 509,100 | 0.025 | 12,580 | 78% | 459,900 | 0.023 | 10,750 | |||||
Asia Pacific | ||||||||||||||||||
Batu Hijau Open Pit(9) | 48.5% | 131,300 | 0.017 | 2,170 | 166,600 | 0.006 | 940 | 297,900 | 0.010 | 3,110 | 76% | 323,700 | 0.010 | 3,150 | ||||
Batu Hijau Stockpiles(4)(5)(9) | 48.5% | 0 | 0 | 140,600 | 0.003 | 440 | 140,600 | 0.003 | 440 | 70% | 156,900 | 0.003 | 490 | |||||
Total Batu Hijau, Indonesia | 48.5% | 131,300 | 0.017 | 2,170 | 307,200 | 0.004 | 1,380 | 438,500 | 0.008 | 3,550 | 76% | 480,600 | 0.008 | 3,640 | ||||
Boddington, Western Australia | 100% | 117,100 | 0.020 | 2,390 | 813,400 | 0.019 | 15,270 | 930,500 | 0.019 | 17,660 | 81% | 1,053,500 | 0.019 | 19,490 | ||||
Boddington Stockpiles | 100% | 32,000 | 0.017 | 540 | 31,800 | 0.013 | 400 | 63,800 | 0.015 | 940 | 81% | 0 | 0 | |||||
Total Boddington, Western Australia | 100% | 149,100 | 0.020 | 2,930 | 845,200 | 0.019 | 15,670 | 994,300 | 0.019 | 18,600 | 81% | 1,053,500 | 0.019 | 19,490 | ||||
Duketon, Western Australia(10) | 19.75% | 1,500 | 0.044 | 70 | 11,100 | 0.045 | 500 | 12,600 | 0.045 | 570 | 95% | 10,800 | 0.045 | 490 | ||||
Jundee, Western Australia | 100% | 2,300 | 0.090 | 210 | 1,600 | 0.188 | 300 | 3,900 | 0.130 | 510 | 91% | 3,800 | 0.174 | 650 | ||||
Kalgoorlie Open Pit and Underground | 50% | 11,700 | 0.059 | 690 | 38,700 | 0.056 | 2,180 | 50,400 | 0.057 | 2,870 | 85% | 55,000 | 0.057 | 3,140 | ||||
Kalgoorlie Stockpiles(4)(5) | 50% | 57,900 | 0.023 | 1,330 | 0 | 0 | 57,900 | 0.023 | 1,330 | 83% | 53,900 | 0.023 | 1,260 | |||||
Total Kalgoorlie, Western Australia | 50% | 69,600 | 0.029 | 2,020 | 38,700 | 0.056 | 2,180 | 108,300 | 0.039 | 4,200 | 84% | 108,900 | 0.040 | 4,400 | ||||
Tanami, Northern Territory | 100% | 5,000 | 0.174 | 860 | 8,900 | 0.153 | 1,360 | 13,900 | 0.161 | 2,220 | 95% | 16,700 | 0.152 | 2,520 | ||||
Waihi, New Zealand | 100% | 100 | 0.175 | 20 | 2,900 | 0.097 | 280 | 3,000 | 0.101 | 300 | 89% | 3,200 | 0.112 | 360 | ||||
TOTAL ASIA PACIFIC | 358,900 | 0.023 | 8,280 | 1,215,600 | 0.018 | 21,670 | 1,574,500 | 0.019 | 29,950 | 82% | 1,677,500 | 0.019 | 31,550 | |||||
Africa | ||||||||||||||||||
Ahafo Open Pits(11) | 100% | 0 | 0 | 183,100 | 0.055 | 10,150 | 183,100 | 0.055 | 10,150 | 88% | 194,700 | 0.055 | 10,790 | |||||
Ahafo Underground(12) | 100% | 0 | 0.000 | 0 | 4,900 | 0.13 | 630 | 4,900 | 0.129 | 630 | 92% | 5,900 | 0.112 | 660 | ||||
Ahafo Stockpiles(4) | 100% | 27,200 | 0.030 | 800 | 0 | 0 | 27,200 | 0.030 | 800 | 86% | 21,000 | 0.030 | 630 | |||||
Total Ahafo, Ghana | 100% | 27,200 | 0.030 | 800 | 188,000 | 0.057 | 10,780 | 215,200 | 0.054 | 11,580 | 88% | 221,600 | 0.055 | 12,080 | ||||
Akyem, Ghana(13) | 100% | 300 | 0.097 | 20 | 144,300 | 0.051 | 7,360 | 144,600 | 0.051 | 7,380 | 88% | 144,500 | 0.051 | 7,390 | ||||
TOTAL AFRICA | 27,500 | 0.030 | 820 | 332,300 | 0.055 | 18,140 | 359,800 | 0.053 | 18,960 | 88% | 366,100 | 0.053 | 19,470 | |||||
TOTAL NEWMONT WORLDWIDE | 736,800 | 0.037 | 27,390 | 2,803,100 | 0.026 | 71,780 | 3,539,900 | 0.028 | 99,170 | 81% | 3,556,000 | 0.028 | 98,750 | |||||
(1) | Reserves are calculated at a a gold price of US$1,400, A$1,400, or NZ$1,800 per ounce unless otherwise noted. 2011 reserves were calculated at a gold price of US$1,200, A$1,250, or NZ$1,600 per ounce unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000 unless they are less than 50,000, and gold ounces have been rounded to the nearest 10,000. | |||||||||||||||||
(2) | Reserve estimates provided by Barrick, the operator of the Turquoise Ridge Joint Venture. | |||||||||||||||||
(3) | In-process material is the material on leach pads at the end of each year from which gold remains to be recovered. In-process material reserves are reported separately where tonnage or contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than 100,000. | |||||||||||||||||
(4) | 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 contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than 100,000. | |||||||||||||||||
(5) | Project is under development. | |||||||||||||||||
(6) | Reserves include the currently undeveloped deposit at La Quinua Sur and Marleny, which contains reserves of 0.5 million attributable ounces. | |||||||||||||||||
(7) | Reserves estimates were provided by Buenaventura, the operator of the La Zanja project. | |||||||||||||||||
(8) | Project has completed Feasibility and awaits construction decision. Percentage reflects Newmont's economic interest at the time of Reserve declaration. Mineral agreement with the Government of Suriname allows the government to purchase up to 25% interest in the project within 60 days after exploitation license is issued, which is expected in early 2013. | |||||||||||||||||
(9) | Percentage reflects Newmont's economic interest as of December 31, 2012. | |||||||||||||||||
(10) | Reserve estimates provided by Regis Resources Ltd, in which Newmont holds a 19.75% interest. | |||||||||||||||||
(11) | Includes undeveloped reserves at Yamfo South, Yamfo Central, Techire West, Subenso South, Subenso North, Yamfo Northeast, and Susuan totaling 3.2 million ounces. | |||||||||||||||||
(12) | Subika Underground project is under development. | |||||||||||||||||
(13) | Project is under development. |
Attributable Proven, Probable, and Combined Gold Reserves(1), Metric Units | ||||||||||||||||||
December 31, 2012 | December 31, 2011 | |||||||||||||||||
Deposits/Districts by Reporting Unit | Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery | Proven + Probable Reserves | |||||||||||||
Newmont Share | Tonnage | Grade | Gold | Tonnage | Grade | Gold | Tonnage | Grade | Gold | Tonnage | Grade | Gold | ||||||
(x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | |||||||
North America | ||||||||||||||||||
Carlin Open Pits, Nevada | 100% | 74,500 | 2.01 | 4,810 | 209,700 | 1.01 | 6,840 | 284,200 | 1.28 | 11,650 | 74% | 300,900 | 1.30 | 12,620 | ||||
Carlin Underground, Nevada | 100% | 13,100 | 8.66 | 3,650 | 8,200 | 9.78 | 2,580 | 21,300 | 9.09 | 6,230 | 86% | 16,400 | 9.66 | 5,090 | ||||
Midas, Nevada | 100% | 100 | 6.54 | 30 | 400 | 1.90 | 20 | 500 | 3.25 | 50 | 90% | 700 | 7.76 | 160 | ||||
Phoenix, Nevada | 100% | 20,600 | 0.66 | 440 | 378,400 | 0.57 | 6,990 | 399,000 | 0.58 | 7,430 | 73% | 405,700 | 0.56 | 7,250 | ||||
Twin Creeks, Nevada | 100% | 6,400 | 3.47 | 720 | 46,500 | 1.79 | 2,680 | 52,900 | 2.00 | 3,400 | 80% | 43,800 | 2.69 | 3,780 | ||||
Turquoise Ridge, Nevada(2) | 25% | 2,000 | 13.59 | 860 | 2,700 | 12.68 | 1,080 | 4,700 | 13.07 | 1,940 | 92% | 3,600 | 15.14 | 1,760 | ||||
Nevada In-Process(3) | 100% | 23,200 | 0.61 | 450 | 0 | 0 | 23,200 | 0.61 | 450 | 64% | 20,800 | 0.69 | 460 | |||||
Nevada Stockpiles(4) | 100% | 62,500 | 1.90 | 3,830 | 3,000 | 0.91 | 90 | 65,500 | 1.86 | 3,920 | 75% | 61,900 | 1.77 | 3,530 | ||||
Total Nevada | 202,400 | 2.27 | 14,790 | 648,900 | 0.97 | 20,280 | 851,300 | 1.28 | 35,070 | 77% | 853,800 | 1.26 | 34,650 | |||||
La Herradura, Mexico | 44% | 77,500 | 0.59 | 1,470 | 65,900 | 0.54 | 1,140 | 143,400 | 0.57 | 2,610 | 67% | 101,100 | 0.72 | 2,330 | ||||
TOTAL NORTH AMERICA | 279,900 | 1.81 | 16,260 | 714,800 | 0.93 | 21,420 | 994,700 | 1.18 | 37,680 | 77% | 954,900 | 1.20 | 36,980 | |||||
South America | ||||||||||||||||||
Conga, Peru(5) | 51.35% | 0 | 0 | 275,200 | 0.73 | 6,460 | 275,200 | 0.73 | 6,460 | 75% | 275,200 | 0.73 | 6,460 | |||||
Yanacocha Open Pits(6) | 51.35% | 20,900 | 1.95 | 1,310 | 66,600 | 0.49 | 1,050 | 87,500 | 0.84 | 2,360 | 73% | 108,800 | 1.02 | 3,570 | ||||
Yanacocha In-Process(3) | 51.35% | 7,800 | 0.88 | 220 | 0 | 0 | 7,800 | 0.88 | 220 | 78% | 13,800 | 0.87 | 390 | |||||
Yanacocha Stockpiles(4) | 51.35% | 7,600 | 1.86 | 460 | 0 | 0 | 7,600 | 1.86 | 460 | 60% |
Not Disclosed in 2011 | |||||||
Total Yanacocha, Peru | 51.35% | 36,300 | 1.70 | 1,990 | 66,600 | 0.49 | 1,050 | 102,900 | 0.92 | 3,040 | 72% | 122,600 | 1.00 | 3,960 | ||||
La Zanja, Peru(7) | 46.94% | 1,600 | 0.71 | 40 | 9,800 | 0.60 | 190 | 11,400 | 0.61 | 230 | 66% | 19,400 | 0.54 | 330 | ||||
Merian, Suriname(8) | 80% | 0 | 0 | 72,400 | 1.22 | 2,850 | 72,400 | 1.22 | 2,850 | 93% | 0 | 0 | ||||||
TOTAL SOUTH AMERICA | 37,900 | 1.66 | 2,030 | 424,000 | 0.77 | 10,550 | 461,900 | 0.85 | 12,580 | 78% | 417,200 | 0.80 | 10,750 | |||||
Asia Pacific | ||||||||||||||||||
Batu Hijau Open Pit(9) | 48.5% | 119,100 | 0.57 | 2,170 | 151,100 | 0.19 | 940 | 270,200 | 0.36 | 3,110 | 76% | 293,600 | 0.33 | 3,150 | ||||
Batu Hijau Stockpiles(5)(9) | 48.5% | 0 | 0 | 127,600 | 0.11 | 440 | 127,600 | 0.11 | 440 | 70% | 142,400 | 0.11 | 490 | |||||
Total Batu Hijau, Indonesia | 48.5% | 119,100 | 0.57 | 2,170 | 278,700 | 0.15 | 1,380 | 397,800 | 0.28 | 3,550 | 76% | 436,000 | 0.26 | 3,640 | ||||
Boddington, Western Australia | 100% | 106,200 | 0.70 | 2,390 | 737,900 | 0.64 | 15,270 | 844,100 | 0.65 | 17,660 | 81% | 955,700 | 0.63 | 19,490 | ||||
Boddington Stockpiles | 100% | 29,000 | 0.58 | 540 | 28,800 | 0.43 | 400 | 57,800 | 0.50 | 940 | 81% |
Not Disclosed in 2011 | ||||||
Total Boddington, Western Australia | 100% | 135,200 | 0.67 | 2,930 | 766,700 | 0.64 | 15,670 | 901,900 | 0.64 | 18,600 | 81% | 955,700 | 0.80 | 19,490 | ||||
Duketon, Western Australia(10) | 19.75% | 1,400 | 1.51 | 70 | 10,100 | 1.53 | 500 | 11,500 | 1.53 | 570 | 95% | 9,800 | 1.54 | 490 | ||||
Jundee, Western Australia | 100% | 2,100 | 3.10 | 210 | 1,500 | 6.43 | 300 | 3,600 | 4.46 | 510 | 91% | 3,400 | 5.95 | 650 | ||||
Kalgoorlie Open Pit and Underground | 50% | 10,600 | 2.02 | 690 | 35,100 | 1.93 | 2,180 | 45,700 | 1.95 | 2,870 | 85% | 49,900 | 1.96 | 3,140 | ||||
Kalgoorlie Stockpiles(5) | 50% | 52,500 | 0.79 | 1,330 | 0 | 0 | 52,500 | 0.79 | 1,330 | 83% | 48,900 | 0.80 | 1,260 | |||||
Total Kalgoorlie, Western Australia | 50% | 63,100 | 1.00 | 2,020 | 35,100 | 1.93 | 2,180 | 98,200 | 1.33 | 4,200 | 84% | 98,800 | 1.38 | 4,400 | ||||
Tanami, Northern Territory | 100% | 4,500 | 5.97 | 860 | 8,100 | 5.25 | 1,360 | 12,600 | 5.51 | 2,220 | 95% | 15,100 | 5.20 | 2,520 | ||||
Waihi, New Zealand | 100% | 100 | 6.01 | 20 | 2,600 | 3.34 | 280 | 2,700 | 3.45 | 300 | 89% | 2,900 | 3.85 | 360 | ||||
TOTAL ASIA PACIFIC | 325,500 | 0.79 | 8,280 | 1,102,800 | 0.61 | 21,670 | 1,428,300 | 0.65 | 29,950 | 82% | 1,521,700 | 0.65 | 31,550 | |||||
Africa | ||||||||||||||||||
Ahafo Open Pits(11) | 100% | 0 | 0 | 166,100 | 1.90 | 10,150 | 166,100 | 1.90 | 10,150 | 88% | 176,600 | 1.90 | 10,790 | |||||
Ahafo Underground(12) | 100% | 0 | 0 | 4,400 | 4.43 | 630 | 4,400 | 4.43 | 630 | 92% | 5,300 | 3.82 | 660 | |||||
Ahafo Stockpiles(4) | 100% | 24,700 | 1.01 | 800 | 0 | 0 | 24,700 | 1.01 | 800 | 86% | 19,100 | 1.03 | 630 | |||||
Total Ahafo, Ghana | 100% | 24,700 | 1.01 | 800 | 170,500 | 1.97 | 10,780 | 195,200 | 1.85 | 11,580 | 88% | 201,000 | 1.87 | 12,080 | ||||
Akyem, Ghana(13) | 100% | 200 | 3.33 | 20 | 130,900 | 1.75 | 7,360 | 131,100 | 1.75 | 7,380 | 88% | 131,100 | 1.75 | 7,390 | ||||
TOTAL AFRICA | 24,900 | 1.03 | 820 | 301,400 | 1.87 | 18,140 | 326,300 | 1.81 | 18,960 | 88% | 332,100 | 1.82 | 19,470 | |||||
TOTAL NEWMONT WORLDWIDE | 668,200 | 1.27 | 27,390 | 2,543,000 | 0.88 | 71,780 | 3,211,200 | 0.96 | 99,170 | 81% | 3,225,900 | 0.95 | 98,750 | |||||
See Footnotes under Gold Reserves U.S. units table. |
Attributable Gold Mineral Resources(1)(2)- December 31, 2012, U.S. Units | |||||||||||||||||
Gold Measured Resource | Gold Indicated Resource | Gold Measured + Indicated Resource(3) | Gold Inferred Resource | ||||||||||||||
Deposits/Districts | Newmont Share | Tonnage | Grade | Au | Tonnage | Grade | Au | Tonnage | Grade | Au | Tonnage | Grade | Au | ||||
(x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | ||||||
North America | |||||||||||||||||
Buffalo Valley, Nevada | 70% | 0 | 0 | 17,900 | 0.018 | 330 | 17,900 | 0.018 | 330 | 600 | 0.010 | 10 | |||||
Carlin Trend Open Pit, Nevada | 100% | 26,200 | 0.036 | 940 | 62,700 | 0.023 | 1,430 | 88,900 | 0.027 | 2,370 | 18,900 | 0.018 | 350 | ||||
Carlin Trend Underground, Nevada | 100% | 500 | 0.148 | 70 | 800 | 0.199 | 170 | 1,300 | 0.180 | 240 | 4,000 | 0.26 | 1,020 | ||||
Lone Tree Complex, Nevada | 100% | 0 | 0 | 2,200 | 0.023 | 50 | 2,200 | 0.023 | 50 | 5,000 | 0.016 | 80 | |||||
Long Canyon, Nevada | 100% | 0 | 0 | 0 | 0 | 0 | 0 | 27,900 | 0.094 | 2,630 | |||||||
Midas, Nevada | 100% | 0 | 0.149 | 0 | 100 | 0.039 | 0 | 100 | 0.056 | 0 | 300 | 0.07 | 20 | ||||
Phoenix, Nevada | 100% | 6,300 | 0.015 | 90 | 191,800 | 0.013 | 2,430 | 198,100 | 0.013 | 2,520 | 117,200 | 0.012 | 1,390 | ||||
Sandman, Nevada | 100% | 0 | 0 | 1,300 | 0.036 | 50 | 1,300 | 0.036 | 50 | 1,100 | 0.063 | 70 | |||||
Turquoise Ridge, Nevada(4) | 25% | 500 | 0.365 | 200 | 500 | 0.328 | 160 | 1,000 | 0.347 | 360 | 900 | 0.42 | 380 | ||||
Twin Creeks, Nevada | 100% | 5,100 | 0.070 | 350 | 36,800 | 0.058 | 2,120 | 41,900 | 0.059 | 2,470 | 3,900 | 0.061 | 240 | ||||
Nevada Stockpiles, Nevada (5) | 100% | 5,800 | 0.037 | 210 | 0 | 0 | 5,800 | 0.037 | 210 | 2,300 | 0.043 | 100 | |||||
Total Nevada | 44,400 | 0.042 | 1,860 | 314,100 | 0.021 | 6,740 | 358,500 | 0.024 | 8,600 | 182,100 | 0.034 | 6,290 | |||||
La Herradura, Mexico | 44% | 30,600 | 0.020 | 610 | 39,900 | 0.017 | 670 | 70,500 | 0.018 | 1,280 | 59,400 | 0.016 | 940 | ||||
Total North America | 75,000 | 0.033 | 2,470 | 354,000 | 0.021 | 7,410 | 429,000 | 0.023 | 9,880 | 241,500 | 0.030 | 7,230 | |||||
South America | |||||||||||||||||
Conga, Peru | 51.35% | 0 | 0.000 | 0 | 89,300 | 0.012 | 1,030 | 89,300 | 0.012 | 1,030 | 130,500 | 0.011 | 1,480 | ||||
Yanacocha, Peru | 51.35% | 13,000 | 0.040 | 520 | 24,400 | 0.016 | 400 | 37,400 | 0.025 | 920 | 93,800 | 0.025 | 2,360 | ||||
La Zanja, Peru (6) | 46.94% | 0 | 0.006 | 0 | 400 | 0.007 | 0 | 400 | 0.007 | 0 | 2,800 | 0.017 | 50 | ||||
Merian, Suriname | 80% | 0 | 0 | 4,100 | 0.056 | 230 | 4,100 | 0.056 | 230 | 30,000 | 0.030 | 910 | |||||
Total South America | 13,000 | 0.040 | 520 | 118,200 | 0.014 | 1,660 | 131,200 | 0.017 | 2,180 | 257,100 | 0.019 | 4,800 | |||||
Asia Pacific | |||||||||||||||||
Batu Hijau, Indonesia(7) | 48.5% | 8,100 | 0.018 | 150 | 141,300 | 0.007 | 1,040 | 149,400 | 0.008 | 1,190 | 27,600 | 0.002 | 50 | ||||
Boddington, Western Australia | 100% | 35,500 | 0.015 | 540 | 225,900 | 0.013 | 3,010 | 261,400 | 0.014 | 3,550 | 15,600 | 0.015 | 240 | ||||
Duketon, Western Australia(8) | 19.75% | 700 | 0.016 | 10 | 10,200 | 0.023 | 240 | 10,900 | 0.023 | 250 | 24,200 | 0.026 | 640 | ||||
Jundee, Western Australia | 100% | 0 | 0 | 300 | 0.108 | 30 | 300 | 0.108 | 30 | 500 | 0.138 | 70 | |||||
Kalgoorlie, Western Australia | 50% | 5,300 | 0.038 | 200 | 15,900 | 0.034 | 540 | 21,200 | 0.035 | 740 | 400 | 0.076 | 30 | ||||
McPhilliamys, New South Wales(8) | 19.75% | 0 | 0 | 9,000 | 0.037 | 330 | 9,000 | 0.037 | 330 | 3,500 | 0.046 | 160 | |||||
Tanami, Northern Territories | 100% | 900 | 0.129 | 110 | 2,800 | 0.116 | 330 | 3,700 | 0.119 | 440 | 7,100 | 0.193 | 1,370 | ||||
Waihi, New Zealand | 100% | 0 | 0 | 1,800 | 0.267 | 480 | 1,800 | 0.267 | 480 | 800 | 0.192 | 150 | |||||
Total Asia Pacific | 50,500 | 0.020 | 1,010 | 407,200 | 0.015 | 6,000 | 457,700 | 0.015 | 7,010 | 79,700 | 0.034 | 2,710 | |||||
Africa | |||||||||||||||||
Ahafo, Ghana | 100.0% | 0 | 0 | 83,200 | 0.037 | 3,050 | 83,200 | 0.037 | 3,050 | 42,500 | 0.042 | 1,770 | |||||
Subika Underground | 100.0% | 0 | 0 | 0 | 0.000 | 0 | 0 | 0.000 | 0 | 9,400 | 0.136 | 1,280 | |||||
Total Ahafo | 100.0% | 0 | 0 | 83,200 | 0.037 | 3,050 | 83,200 | 0.037 | 3,050 | 51,900 | 0.059 | 3,050 | |||||
Akyem, Ghana | 100.0% | 0 | 0 | 13,300 | 0.016 | 210 | 13,300 | 0.016 | 210 | 3,400 | 0.030 | 100 | |||||
Total Africa | 0 | 0 | 96,500 | 0.034 | 3,260 | 96,500 | 0.034 | 3,260 | 55,300 | 0.057 | 3,150 | ||||||
TOTAL NEWMONT WORLDWIDE | 138,500 | 0.029 | 4,000 | 975,900 | 0.019 | 18,330 | 1,114,400 | 0.020 | 22,330 | 633,600 | 0.028 | 17,890 | |||||
(1) | Resources are reported exclusive of reserves. | ||||||||||||||||
(2) | Resources calculated at a gold price of US$1,600 or A$1,600 per ounce unless otherwise noted. 2011 Resources were calculated at a gold price of US$1,400 or A$1,475 per ounce. Tonnage amounts have been rounded to the nearest 100,000 and pounds have been rounded to the nearest 10 thousand. | ||||||||||||||||
(3) | Measured and Indicated combined Resources are equivalent to Mineralized Material disclosed in Newmont's 10K filing. | ||||||||||||||||
(4) | Resource estimates provided by Barrick, the operator of the Turquoise Ridge joint venture. | ||||||||||||||||
(5) | 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. | ||||||||||||||||
(6) | Reserve estimates provided by Buenaventura, the operator of the La Zanja project. | ||||||||||||||||
(7) | Percentage reflects Newmont's economic interest at December 31, 2012. | ||||||||||||||||
(8) | Resource estimates provided by Regis Resources Ltd, in which Newmont holds a 19.75% interest. |
Attributable Gold Mineral Resources(1)(2)- December 31, 2012, Metric units | |||||||||||||||||
Gold Measured Resource | Gold Indicated Resource | Gold Measured + Indicated Resource(3) | Gold Inferred Resource | ||||||||||||||
Deposits/Districts | Newmont Share | Tonnage | Grade | Au | Tonnage | Grade | Au | Tonnage | Grade | Au | Tonnage | Grade | Au | ||||
(x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | ||||||
North America | |||||||||||||||||
Buffalo Valley, Nevada | 70% | 0 | 0 | 16,200 | 0.63 | 330 | 16,200 | 0.63 | 330 | 500 | 0.35 | 10 | |||||
Carlin Trend Open Pit, Nevada | 100% | 23,800 | 1.22 | 940 | 56,900 | 0.78 | 1,430 | 80,700 | 0.91 | 2,370 | 17,100 | 0.63 | 350 | ||||
Carlin Trend Underground, Nevada | 100% | 400 | 5.07 | 70 | 800 | 6.82 | 170 | 1,200 | 6.19 | 240 | 3,600 | 8.75 | 1,020 | ||||
Lone Tree Complex, Nevada | 100% | 0 | 0 | 2,000 | 0.79 | 50 | 2,000 | 0.79 | 50 | 4,600 | 0.55 | 80 | |||||
Long Canyon, Nevada | 100% | 0 | 0 | 0 | 0 | 0 | 0 | 25,400 | 3.22 | 2,630 | |||||||
Midas, Nevada | 100% | 0 | 5.10 | 0 | 100 | 1.35 | 0 | 100 | 1.93 | 0 | 300 | 2.27 | 20 | ||||
Phoenix, Nevada | 100% | 5,700 | 0.50 | 90 | 174,000 | 0.43 | 2,430 | 179,700 | 0.44 | 2,520 | 106,300 | 0.41 | 1,390 | ||||
Sandman, Nevada | 100% | 0 | 0 | 1,200 | 1.23 | 50 | 1,200 | 1.23 | 50 | 1,000 | 2.17 | 70 | |||||
Turquoise Ridge, Nevada(4) | 25% | 500 | 12.51 | 200 | 400 | 11.25 | 160 | 900 | 11.91 | 360 | 800 | 14.28 | 380 | ||||
Twin Creeks, Nevada | 100% | 4,600 | 2.39 | 350 | 33,400 | 1.98 | 2,120 | 38,000 | 2.03 | 2,470 | 3,600 | 2.10 | 240 | ||||
Nevada Stockpiles, Nevada (5) | 100% | 5,200 | 1.25 | 210 | 0 | 0 | 5,200 | 1.25 | 210 | 2,100 | 1.48 | 100 | |||||
Total Nevada | 40,200 | 1.44 | 1,860 | 285,000 | 0.74 | 6,740 | 325,200 | 0.82 | 8,600 | 165,300 | 1.18 | 6,290 | |||||
La Herradura, Mexico | 44% | 27,700 | 0.69 | 610 | 36,200 | 0.57 | 670 | 63,900 | 0.62 | 1,280 | 53,900 | 0.54 | 940 | ||||
Total North America | 67,900 | 1.13 | 2,470 | 321,200 | 0.72 | 7,410 | 389,100 | 0.79 | 9,880 | 219,200 | 1.02 | 7,230 | |||||
South America | |||||||||||||||||
Conga, Peru | 51.35% | 0 | 0.00 | 0 | 81,000 | 0.40 | 1,030 | 81,000 | 0.40 | 1,030 | 118,400 | 0.39 | 1,480 | ||||
Yanacocha, Peru | 51.35% | 11,800 | 1.38 | 520 | 22,100 | 0.56 | 400 | 33,900 | 0.85 | 920 | 85,100 | 0.86 | 2,360 | ||||
La Zanja, Peru (6) | 46.94% | 0 | 0.20 | 0 | 300 | 0.23 | 0 | 300 | 0.23 | 0 | 2,600 | 0.58 | 50 | ||||
Merian, Suriname | 80% | 0 | 0 | 3,700 | 1.90 | 230 | 3,700 | 1.90 | 230 | 27,200 | 1.04 | 910 | |||||
Total South America | 11,800 | 1.38 | 520 | 107,100 | 0.48 | 1,660 | 118,900 | 0.57 | 2,180 | 233,300 | 0.64 | 4,800 | |||||
Asia Pacific | |||||||||||||||||
Batu Hijau, Indonesia(7) | 48.5% | 7,300 | 0.62 | 150 | 128,200 | 0.25 | 1,040 | 135,500 | 0.27 | 1,190 | 25,000 | 0.07 | 50 | ||||
Boddington, Western Australia | 100% | 32,200 | 0.52 | 540 | 204,900 | 0.46 | 3,010 | 237,100 | 0.47 | 3,550 | 14,200 | 0.52 | 240 | ||||
Duketon, Western Australia(8) | 19.75% | 700 | 0.54 | 10 | 9,200 | 0.80 | 240 | 9,900 | 0.78 | 250 | 21,900 | 0.91 | 640 | ||||
Jundee, Western Australia | 100% | 0 | 0 | 200 | 3.69 | 30 | 200 | 3.69 | 30 | 500 | 4.74 | 70 | |||||
Kalgoorlie, Western Australia | 50% | 4,800 | 1.29 | 200 | 14,500 | 1.16 | 540 | 19,300 | 1.19 | 740 | 300 | 2.61 | 30 | ||||
McPhilliamys, New South Wales(8) | 19.75% | 0 | 0 | 8,200 | 1.27 | 330 | 8,200 | 1.27 | 330 | 3,200 | 1.57 | 160 | |||||
Tanami, Northern Territories | 100% | 800 | 4.41 | 110 | 2,600 | 3.97 | 330 | 3,400 | 4.08 | 440 | 6,500 | 6.61 | 1,370 | ||||
Waihi, New Zealand | 100% | 0 | 0 | 1,600 | 9.14 | 480 | 1,600 | 9.14 | 480 | 700 | 6.57 | 150 | |||||
Total Asia Pacific | 45,800 | 0.69 | 1,010 | 369,400 | 0.51 | 6,000 | 415,200 | 0.53 | 7,010 | 72,300 | 1.17 | 2,710 | |||||
Africa | |||||||||||||||||
Ahafo, Ghana | 100.0% | 0 | 0 | 75,500 | 1.26 | 3,050 | 75,500 | 1.26 | 3,050 | 38,500 | 1.43 | 1,770 | |||||
Subika Underground | 100.0% | 0 | 0 | 0 | 0.00 | 0 | 0 | 0.00 | 0 | 8,500 | 4.66 | 1,280 | |||||
Total Ahafo | 100.0% | 0 | 0 | 75,500 | 1.26 | 3,050 | 75,500 | 1.26 | 3,050 | 47,000 | 2.02 | 3,050 | |||||
Akyem, Ghana | 100.0% | 0 | 0 | 12,000 | 0.55 | 210 | 12,000 | 0.55 | 210 | 3,100 | 1.01 | 100 | |||||
Total Africa | 0 | 0 | 87,500 | 1.16 | 3,260 | 87,500 | 1.16 | 3,260 | 50,100 | 1.96 | 3,150 | ||||||
TOTAL NEWMONT WORLDWIDE | 125,500 | 0.99 | 4,000 | 885,200 | 0.64 | 18,330 | 1,010,700 | 0.69 | 22,330 | 574,900 | 0.97 | 17,890 | |||||
See footnotes in Gold Resources U.S. units table. |
Attributable Copper Reserves(1)U.S. Units | ||||||||||||||||||
December 31, 2012 | ||||||||||||||||||
December 31, 2011 | ||||||||||||||||||
Deposits/Districts |
Newmont Share | Proven Reserves | Probable Reserves | Proven + Probable Reserves | Proven + Probable Reserve | |||||||||||||
Tonnage | Grade | Copper | Tonnage | Grade | Copper | Tonnage | Grade | Copper | Metallurgical | Tonnage | Grade | Copper | ||||||
(x1000 tons) | (Cu%) | (million pounds) | (x1000 tons) | (Cu%) | (million pounds) | (x1000 tons) | (Cu%) | (million pounds) | Recovery | (x1000 tons) | (Cu%) | (million pounds) | ||||||
North America | ||||||||||||||||||
Phoenix, Nevada | 100% | 22,700 | 0.15% | 70 | 420,500 | 0.15% | 1,220 | 443,200 | 0.15% | 1,290 | 61% | 450,300 | 0.15% | 1,300 | ||||
Phoenix Copper Leach, Nevada(2) | 100% | 0 | 0 | 177,100 | 0.24% | 850 | 177,100 | 0.24% | 850 | 58% | 170,200 | 0.22% | 740 | |||||
TOTAL NORTH AMERICA | 22,700 | 0.15% | 70 | 597,600 | 0.17% | 2,070 | 620,300 | 0.17% | 2,140 | 59% | 620,500 | 0.16% | 2,040 | |||||
South America | ||||||||||||||||||
Conga, Peru(3) | 51.35% | 0 | 0 | 303,400 | 0.28% | 1,690 | 303,400 | 0.28% | 1,690 | 85% | 303,400 | 0.28% | 1,690 | |||||
TOTAL SOUTH AMERICA | 0 | 0 | 303,400 | 0.28% | 1,690 | 303,400 | 0.28% | 1,690 | 85% | 303,400 | 0.28% | 1,690 | ||||||
Asia Pacific | ||||||||||||||||||
Batu Hijau(4) | 48.5% | 131,300 | 0.51% | 1,340 | 166,600 | 0.36% | 1,220 | 297,900 | 0.43% | 2,560 | 75% | 323,700 | 0.41% | 2,670 | ||||
Batu Hijau Stockpiles(4)(5) | 48.5% | 0 | 0 | 140,600 | 0.33% | 940 | 140,600 | 0.33% | 940 | 59% | 156,900 | 0.34% | 1,060 | |||||
Batu Hijau, Indonesia | 48.5% | 131,300 | 0.51% | 1,340 | 307,200 | 0.35% | 2,160 | 438,500 | 0.40% | 3,500 | 71% | 480,600 | 0.39% | 3,730 | ||||
Boddington | 100% | 117,100 | 0.10% | 230 | 813,400 | 0.11% | 1,840 | 930,500 | 0.11% | 2,070 | 83% | 1,053,500 | 0.11% | 2,260 | ||||
Boddington Stockpiles(5) | 100% | 32,000 | 0.10% | 60 | 31,800 | 0.07% | 50 | 63,800 | 0.08% | 110 | 83% | |||||||
Boddington, Western Australia | 100% | 149,100 | 0.29% | 290 | 845,200 | 0.18% | 1,890 | 994,300 | 0.20% | 2,180 | 83% | 1,053,500 | 0.11% | 2,260 | ||||
TOTAL ASIA PACIFIC | 280,400 | 0.29% | 1,630 | 1,152,400 | 0.18% | 4,050 | 1,432,800 | 0.20% | 5,680 | 75% | 1,534,100 | 0.20% | 5,990 | |||||
TOTAL NEWMONT WORLDWIDE | 303,100 | 0.28% | 1,700 | 2,053,400 | 0.19% | 7,810 | 2,356,500 | 0.20% | 9,510 | 73% | 2,458,000 | 0.20% | 9,720 | |||||
(1) | Reserves are calculated at US$3.25 or A$3.25 per pound copper price unless otherwise noted. 2011 reserves were calculated at US$3.00 or A$3.15 per pound copper price unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000 and pounds have been rounded to the nearest 10 million. | |||||||||||||||||
(2) | Project is under development. Leach reserves are within Phoenix Reserve Pit. | |||||||||||||||||
(3) | Project is under development. | |||||||||||||||||
(4) | Percentage reflects Newmont's economic interest at December 31, 2012. | |||||||||||||||||
(5) | Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material. Stockpiles increase or decrease depending on current mine plans. Stockpiles are reported separately where tonnage or contained metal are greater than 5% of the total site reported reserves. |
Attributable Copper Reserves(1)Metric Units | ||||||||||||||||||
December 31, 2012 | ||||||||||||||||||
December 31, 2011 | ||||||||||||||||||
Deposits/Districts | Proven Reserves | Probable Reserves | Proven + Probable Reserves | Proven + Probable Reserve | ||||||||||||||
Newmont Share | Tonnage | Grade | Copper | Tonnage | Grade | Copper | Tonnage | Grade | Copper | Metallurgical | Tonnage | Grade | Copper | |||||
(x1000 tonnes) | (Cu%) | (Tonnes) | (x1000 tonnes) | (Cu%) | (Tonnes) | (x1000 tonnes) | (Cu%) | (Tonnes) | Recovery | (x1000 tonnes) | (Cu%) | (Tonnes) | ||||||
North America | ||||||||||||||||||
Phoenix, Nevada | 100% | 20,600 | 0.15% | 31,570 | 381,500 | 0.15% | 554,220 | 402,100 | 0.15% | 585,790 | 61% | 408,500 | 0.15% | 593,140 | ||||
Phoenix Copper Leach, Nevada(2) | 100% | 0 | 0 | 160,600 | 0.24% | 384,130 | 160,600 | 0.24% | 384,130 | 58% | 154,400 | 0.22% | 339,680 | |||||
TOTAL NORTH AMERICA | 20,600 | 0.15% | 31,570 | 542,100 | 0.17% | 938,350 | 562,700 | 0.17% | 969,920 | 59% | 562,900 | 0.16% | 932,820 | |||||
South America | ||||||||||||||||||
Conga, Peru(3) | 51.35% | 0 | 0 | 275,200 | 0.28% | 767,420 | 275,200 | 0.28% | 767,420 | 85% | 275,200 | 0.28% | 767,300 | |||||
TOTAL SOUTH AMERICA | 0 | 0 | 275,200 | 0.28% | 767,420 | 275,200 | 0.28% | 767,420 | 85% | 303,400 | 0.28% | 767,300 | ||||||
Asia Pacific | ||||||||||||||||||
Batu Hijau(4) | 48.5% | 119,100 | 0.51% | 606,440 | 151,100 | 0.36% | 551,440 | 270,200 | 0.43% | 1,157,880 | 75% | 293,700 | 0.41% | 1,211,990 | ||||
Batu Hijau Stockpiles(4)(5) | 48.5% | 0 | 0 | 127,600 | 0.33% | 425,430 | 127,600 | 0.33% | 425,430 | 59% | 142,300 | 0.34% | 481,570 | |||||
Batu Hijau, Indonesia | 48.5% | 119,100 | 0.51% | 606,440 | 278,700 | 0.35% | 976,870 | 397,800 | 0.40% | 1,583,310 | 71% | 436,000 | 0.39% | 1,693,560 | ||||
Boddington | 100% | 106,200 | 0.10% | 106,500 | 737,900 | 0.11% | 832,830 | 844,100 | 0.11% | 939,330 | 83% | 955,700 | 0.11% | 1,025,450 | ||||
Boddington Stockpiles(5) | 100% | 29,000 | 0.10% | 27,930 | 28,800 | 0.07% | 20,880 | 57,800 | 0.08% | 48,810 | 83% | |||||||
Boddington, Western Australia | 100% | 135,200 | 0.10% | 134,430 | 766,700 | 0.11% | 853,710 | 901,900 | 0.11% | 988,140 | 83% | 955,700 | 0.11% | 1,025,450 | ||||
TOTAL ASIA PACIFIC | 254,300 | 0.29% | 740,870 | 1,045,400 | 0.18% | 1,830,580 | 1,299,700 | 0.20% | 2,571,450 | 75% | 1,534,100 | 0.20% | 2,719,010 | |||||
TOTAL NEWMONT WORLDWIDE | 274,900 | 0.28% | 772,440 | 1,862,700 | 0.19% | 3,536,350 | 2,137,600 | 0.20% | 4,308,790 | 73% | 2,458,000 | 0.20% | 4,419,130 | |||||
See Footnotes under Copper Reserves U.S. units table. |
Attributable Copper Mineral Resources(1)(2) | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Deposits/Districts | Measured Resources | Indicated Resources | Measured + Indicated Resources(3) | Inferred Resources | |||||||||||||
Newmont Share | Tonnage | Grade | Copper | Tonnage | Grade | Copper | Tonnage | Grade | Copper | Tonnage | Grade | Copper | |||||
(x1000 tons) | (Cu%) | (million Pounds) | (x1000 tons) | (Cu%) | (million Pounds) | (x1000 tons) | (Cu%) | (million Pounds) | (x1000 tons) | (Cu%) | (million Pounds) | ||||||
North America | |||||||||||||||||
Phoenix, Nevada | 100% | 6,300 | 0.07% | 10 | 191,800 | 0.08% | 300 | 198,100 | 0.08% | 310 | 119,600 | 0.10% | 230 | ||||
Phoenix Copper Leach, Nevada | 100% | 1,000 | 0.34% | 10 | 21,300 | 0.25% | 110 | 22,300 | 0.25% | 120 | 16,900 | 0.20% | 70 | ||||
TOTAL NORTH AMERICA | 7,300 | 0.11% | 20 | 213,100 | 0.09% | 410 | 220,400 | 0.10% | 430 | 136,500 | 0.11% | 300 | |||||
South America | |||||||||||||||||
Conga, Peru | 51.35% | 0 | 0 | 89,300 | 0.19% | 350 | 89,300 | 0.19% | 350 | 130,480 | 0.19% | 490 | |||||
TOTAL SOUTH AMERICA | 0 | 0 | 89,300 | 0.19% | 350 | 89,300 | 0.19% | 350 | 130,480 | 0.19% | 490 | ||||||
Asia Pacific | |||||||||||||||||
Batu Hijau, Indonesia(4) | 48.5% | 8,100 | 0.37% | 60 | 141,300 | 0.34% | 970 | 149,400 | 0.34% | 1,030 | 27,600 | 0.27% | 150 | ||||
Boddington, Western Australia | 100% | 35,500 | 0.07% | 50 | 225,900 | 0.08% | 360 | 261,400 | 0.08% | 410 | 15,600 | 0.11% | 30 | ||||
TOTAL ASIA PACIFIC | 43,600 | 0.12% | 110 | 367,200 | 0.18% | 1,330 | 410,800 | 0.18% | 1,440 | 43,200 | 0.21% | 180 | |||||
TOTAL NEWMONT WORLDWIDE | 50,900 | 0.12% | 130 | 669,600 | 0.16% | 2,090 | 720,500 | 0.15% | 2,220 | 310,180 | 0.16% | 970 | |||||
(1) | Resources are reported exclusive of reserves. | ||||||||||||||||
(2) | Resources calculated at a copper price of US$3.50 or A$3.50 per pound unless otherwise noted. 2011 Resources were calculated at a copper price of US$3.50 or A$3.70 per pound. Tonnage amounts have been rounded to the nearest 100,000 and pounds have been rounded to the nearest 10 million. | ||||||||||||||||
(3) | Measured and Indicated combined Resources are equivalent to Mineralized Material disclosed in Newmont's 10K filing. | ||||||||||||||||
(4) | Percentage reflects Newmont's economic interest at December 31, 2012. |
Attributable Copper Mineral Resources(1)(2)Metric Units | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Deposits/Districts | Measured Resources | Indicated Resources | Measured + Indicated Resources(3) | Inferred Resources | |||||||||||||
Newmont Share | Tonnage | Grade | Copper | Tonnage | Grade | Copper | Tonnage | Grade | Copper | Tonnage | Grade | Copper | |||||
(x1000 tonnes) | (Cu%) | (tonnes) | (x1000 tonnes) | (Cu%) | (tonnes) | (x1000 tonnes) | (Cu%) | (tonnes) | (x1000 tonnes) | (Cu%) | (tonnes) | ||||||
North America | |||||||||||||||||
Phoenix, Nevada | 100% | 5,700 | 0.07% | 4,110 | 174,000 | 0.08% | 135,170 | 179,700 | 0.08% | 139,280 | 108,500 | 0.10% | 104,570 | ||||
Phoenix Copper Leach, Nevada | 100% | 900 | 0.34% | 3,060 | 19,300 | 0.25% | 48,300 | 20,200 | 0.25% | 51,360 | 15,300 | 0.20% | 30,540 | ||||
TOTAL NORTH AMERICA | 6,600 | 0.11% | 7,170 | 193,300 | 0.09% | 183,470 | 199,900 | 0.10% | 190,640 | 123,800 | 0.11% | 135,110 | |||||
South America | |||||||||||||||||
Conga, Peru | 51.35% | 0 | 0 | 81,000 | 0.19% | 156,960 | 81,000 | 0.19% | 156,960 | 118,400 | 0.19% | 221,030 | |||||
TOTAL SOUTH AMERICA | 0 | 0 | 81,000 | 0.19% | 156,960 | 81,000 | 0.19% | 156,960 | 118,400 | 0.19% | 221,030 | ||||||
Asia Pacific | |||||||||||||||||
Batu Hijau, Indonesia(3) | 48.5% | 7,300 | 0.37% | 27,230 | 128,200 | 0.34% | 440,320 | 135,500 | 0.34% | 467,550 | 25,000 | 0.27% | 68,080 | ||||
Boddington, Western Australia | 100% | 32,200 | 0.07% | 21,090 | 204,900 | 0.08% | 164,200 | 237,100 | 0.08% | 185,290 | 14,200 | 0.11% | 15,040 | ||||
TOTAL ASIA PACIFIC | 39,500 | 0.12% | 48,320 | 333,100 | 0.18% | 604,520 | 372,600 | 0.18% | 652,840 | 39,200 | 0.21% | 83,120 | |||||
TOTAL NEWMONT WORLDWIDE | 46,100 | 0.12% | 55,490 | 607,400 | 0.16% | 944,950 | 653,500 | 0.15% | 1,000,440 | 281,400 | 0.16% | 439,260 | |||||
See Footnotes under Copper Resources U.S. units table. |
Attributable Proven, Probable, and Combined Silver Reserves(1)U.S. Units | ||||||||||||||||||
December 31, 2012 | ||||||||||||||||||
December 31, 2011 | ||||||||||||||||||
Deposits/Districts by Reporting Unit | Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery | Proven and Probable Reserves | |||||||||||||
Newmont Share | Tonnage | Grade | Silver | Tonnage | Grade | Silver | Tonnage | Grade | Silver | Tonnage | Grade | Silver | ||||||
(x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | |||||||
North America | ||||||||||||||||||
Midas, Nevada | 100% | 200 | 3.072 | 510 | 400 | 9.731 | 3,900 | 600 | 7.791 | 4,410 | 90% | 800 | 7.201 | 5,250 | ||||
Phoenix, Nevada | 100% | 22,700 | 0.288 | 6,540 | 420,500 | 0.252 | 106,040 | 443,200 | 0.254 | 112,580 | 36% | 450,300 | 0.244 | 109,980 | ||||
TOTAL NORTH AMERICA | 22,900 | 0.308 | 7,050 | 420,900 | 0.261 | 109,940 | 443,800 | 0.264 | 116,990 | 38% | 451,100 | 0.255 | 115,230 | |||||
South America | ||||||||||||||||||
Conga, Peru | 51.35% | 0 | 0 | 303,400 | 0.064 | 19,400 | 303,400 | 0.064 | 19,400 | 70% | 303,400 | 0.064 | 19,400 | |||||
Yanacocha Open Pits, Peru | 51.35% | 19,700 | 0.167 | 3,300 | 65,700 | 0.078 | 5,110 | 85,400 | 0.098 | 8,410 | 29% | 89,600 | 0.125 | 11,240 | ||||
Yanacocha In-Process(2) | 51.35% | 0 | 0 | 71,600 | 0.257 | 18,370 | 71,600 | 0.257 | 18,370 | 10% | 59,500 | 0.485 | 28,840 | |||||
Yanacocha Stockpiles(3) | 51.35% | 8,400 | 1.235 | 10,380 | 0 | 0 | 8,400 | 1.235 | 10,380 | 31% | 6,100 | 1.235 | 7,430 | |||||
Total Yanacocha, Peru | 51.35% | 28,100 | 0.486 | 13,680 | 137,300 | 0.171 | 23,480 | 165,400 | 0.225 | 37,160 | 20% | 155,200 | 0.306 | 47,510 | ||||
TOTAL SOUTH AMERICA | 28,100 | 0.486 | 13,680 | 440,700 | 0.097 | 42,880 | 468,800 | 0.121 | 56,560 | 37% | 458,600 | 0.146 | 66,910 | |||||
Asia Pacific | ||||||||||||||||||
Batu Hijau Open Pit(4) | 48.5% | 131,300 | 0.047 | 6,120 | 166,600 | 0.024 | 3,980 | 297,900 | 0.034 | 10,100 | 78% | 323,700 | 0.032 | 10,410 | ||||
Batu Hijau Stockpiles(3)(4) | 48.5% | 0 | 0 | 140,600 | 0.015 | 2,140 | 140,600 | 0.015 | 2,140 | 72% | 156,900 | 0.015 | 2,430 | |||||
Total Batu Hijau, Indonesia | 48.5% | 131,300 | 0.047 | 6,120 | 307,200 | 0.020 | 6,120 | 438,500 | 0.028 | 12,240 | 77% | 480,600 | 0.027 | 12,840 | ||||
TOTAL ASIA PACIFIC | 131,300 | 0.047 | 6,120 | 307,200 | 0.020 | 6,120 | 438,500 | 0.028 | 12,240 | 77% | 480,600 | 0.027 | 12,840 | |||||
TOTAL NEWMONT WORLDWIDE | 182,300 | 0.147 | 26,850 | 1,168,800 | 0.136 | 158,940 | 1,351,100 | 0.138 | 185,790 | 40% | 1,390,300 | 0.140 | 194,980 | |||||
(1) | Reserves are calculated at a a silver price of US$30.00, A$30.00, or NZ$38.75 per ounce unless otherwise noted. 2011 reserves were calculated at a silver price of US$22.00, A$23.00, or NZ$29.00 per ounce unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000 unless they are less than 50,000, and silver ounces have been rounded to the nearest 10,000. | |||||||||||||||||
(2) | In-process material is the material on leach pads at the end of each year from which gold remains to be recovered. In-process material reserves are reported separately where tonnage or contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than 100,000. | |||||||||||||||||
(3) | 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 contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than 100,000. | |||||||||||||||||
(4) | Percentage reflects Newmont's economic interest at December 31, 2012. |
Attributable Proven, Probable, and Combined Silver Reserves(1) Metric Units | ||||||||||||||||||
December 31, 2012 | ||||||||||||||||||
December 31, 2011 | ||||||||||||||||||
Deposits/Districts by Reporting Unit | Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery | Proven and Probable Reserves | |||||||||||||
Newmont Share | Tonnage | Grade | Silver | Tonnage | Grade | Silver | Tonnage | Grade | Silver | Tonnage | Grade | Silver | ||||||
(x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | |||||||
North America | ||||||||||||||||||
Midas, Nevada | 100% | 100 | 105.3 | 510 | 400 | 333.6 | 3,900 | 500 | 267.1 | 4,410 | 90% | 700 | 246.9 | 5,250 | ||||
Phoenix, Nevada | 100% | 20,600 | 9.9 | 6,540 | 381,500 | 8.6 | 106,040 | 402,100 | 8.7 | 112,580 | 36% | 408,500 | 8.4 | 109,980 | ||||
TOTAL NORTH AMERICA | 20,700 | 10.6 | 7,050 | 381,900 | 9.0 | 109,940 | 402,600 | 9.0 | 116,990 | 38% | 409,200 | 8.8 | 115,230 | |||||
South America | ||||||||||||||||||
Conga, Peru | 51.35% | 0 | 0 | 275,200 | 2.2 | 19,400 | 275,200 | 2.2 | 19,400 | 70% | 275,200 | 2.2 | 19,400 | |||||
Yanacocha Open Pits, Peru | 51.35% | 17,900 | 5.7 | 3,300 | 59,600 | 2.7 | 5,110 | 77,500 | 3.4 | 8,410 | 29% | 81,300 | 4.3 | 11,240 | ||||
Yanacocha In-Process(2) | 51.35% | 0 | 0 | 64,900 | 8.8 | 18,370 | 64,900 | 8.8 | 18,370 | 10% | 54,000 | 16.6 | 28,840 | |||||
Yanacocha Stockpiles(3) | 51.35% | 7,600 | 42.4 | 10,380 | 0 | 0 | 7,600 | 42.4 | 10,380 | 31% | 5,500 | 42.3 | 7,430 | |||||
Total Yanacocha, Peru | 51.35% | 25,500 | 16.7 | 13,680 | 124,500 | 5.9 | 23,480 | 150,000 | 7.7 | 37,160 | 20% | 140,800 | 10.5 | 47,510 | ||||
TOTAL SOUTH AMERICA | 25,500 | 16.7 | 13,680 | 399,700 | 3.3 | 42,880 | 425,200 | 4.1 | 56,560 | 37% | 416,000 | 5.0 | 66,910 | |||||
Asia Pacific | ||||||||||||||||||
Batu Hijau Open Pit(4) | 48.5% | 119,100 | 1.6 | 6,120 | 151,100 | 0.8 | 3,980 | 270,200 | 1.2 | 10,100 | 78% | 293,700 | 1.1 | 10,410 | ||||
Batu Hijau Stockpiles(3)(4) | 48.5% | 0 | 0 | 127,600 | 0.5 | 2,140 | 127,600 | 0.5 | 2,140 | 72% | 142,300 | 0.5 | 2,430 | |||||
Total Batu Hijau, Indonesia | 48.5% | 119,100 | 1.6 | 6,120 | 278,700 | 0.7 | 6,120 | 397,800 | 1.0 | 12,240 | 77% | 436,000 | 0.9 | 12,840 | ||||
TOTAL ASIA PACIFIC | 119,100 | 1.6 | 6,120 | 278,700 | 0.7 | 6,120 | 397,800 | 1.0 | 12,240 | 77% | 436,000 | 0.9 | 12,840 | |||||
TOTAL NEWMONT WORLDWIDE | 165,300 | 5.0 | 26,850 | 1,060,300 | 4.7 | 158,940 | 1,225,600 | 4.7 | 185,790 | 40% | 1,261,200 | 4.8 | 194,980 | |||||
See Footnotes under Silver Reserves U.S. units table. |
Attributable Silver Mineral Resources(1)(2)U.S. Units | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Deposits/Districts | Measured Resources | Indicated Resources | Measured + Indicated Resources(3) | Inferred Resources | |||||||||||||
Newmont Share | Tonnage | Grade | Ag | Tonnage | Grade | Ag | Tonnage | Grade | Ag | Tonnage | Grade | Ag | |||||
(x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | (x1000 tons) | (oz/ton) | (x1000 ozs) | ||||||
North America | |||||||||||||||||
Sandman, Nevada | 100% | 0 | 0 | 1,300 | 0.199 | 300 | 1,300 | 0.199 | 300 | 1,100 | 0.167 | 200 | |||||
Midas, Nevada | 100% | 0 | 2.236 | 40 | 100 | 7.717 | 700 | 100 | 6.879 | 740 | 300 | 7.156 | 2,500 | ||||
Phoenix, Nevada | 100% | 6,300 | 0.185 | 1,200 | 191,800 | 0.186 | 35,700 | 198,100 | 0.186 | 36,900 | 117,200 | 0.202 | 23,700 | ||||
Phoenix Stockpiles, Nevada(4) | 100% | 0 | 0 | 0 | 0 | 0 | 0 | 2,300 | 0.089 | 200 | |||||||
TOTAL NORTH AMERICA | 6,300 | 0.190 | 1,240 | 193,200 | 0.190 | 36,700 | 199,500 | 0.190 | 37,940 | 120,900 | 0.220 | 26,600 | |||||
South America | |||||||||||||||||
Conga, Peru | 51.35% | 0 | 0 | 0 | 89,300 | 0.047 | 4,200 | 89,300 | 0.047 | 4,200 | 99,100 | 0.033 | 3,300 | ||||
Yanacocha, Peru | 51.35% | 12,700 | 0.434 | 5,500 | 16,700 | 0.080 | 1,300 | 29,400 | 0.233 | 6,800 | 10,000 | 0.425 | 4,300 | ||||
TOTAL SOUTH AMERICA | 12,700 | 0.434 | 5,500 | 106,000 | 0.052 | 5,500 | 118,700 | 0.093 | 11,000 | 109,100 | 0.069 | 7,600 | |||||
Asia Pacific | |||||||||||||||||
Batu Hijau, Indonesia(5) | 48.5% | 8,100 | 0.038 | 300 | 141,300 | 0.027 | 3,700 | 149,400 | 0.027 | 4,000 | 27,600 | 0.016 | 400 | ||||
TOTAL ASIA PACIFIC | 8,100 | 0.038 | 300 | 141,300 | 0.027 | 3,700 | 149,400 | 0.027 | 4,000 | 27,600 | 0.016 | 400 | |||||
TOTAL NEWMONT WORLDWIDE | 27,100 | 0.259 | 7,040 | 440,500 | 0.104 | 45,900 | 467,600 | 0.113 | 52,940 | 257,600 | 0.134 | 34,600 | |||||
(1) | Mineral Resources reported exclusive of reserves. | ||||||||||||||||
(2) | Mineral Resources calculated at a silver price of US$35.00, A$35.00, or NZ$45.00 per ounce unless otherwise noted. 2011 Resources were calculated at a silver price of US$26.00, A$27.50, or NZ$34.50 per ounce. Tonnage amounts have been rounded to the nearest 100,000. | ||||||||||||||||
(3) | Measured and Indicated combined Resources are equivalent to Mineralized Material disclosed in Newmont's 10K filing. | ||||||||||||||||
(4) | 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. | ||||||||||||||||
(5) | Percentage reflects Newmont's economic interest at December 31, 2012. |
Attributable Silver Mineral Resources(1)(2)Metric Units | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Deposits/Districts | Measured Resources | Indicated Resources | Measured + Indicated Resources(3) | Inferred Resources | |||||||||||||
Newmont Share | Tonnage | Grade | Ag | Tonnage | Grade | Ag | Tonnage | Grade | Ag | Tonnage | Grade | Ag | |||||
(x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | (x1000 tonnes) | (g/tonne) | (x1000 ozs) | ||||||
North America | |||||||||||||||||
Sandman, Nevada | 100% | 0 | 0 | 1,200 | 6.8 | 300 | 1,200 | 6.8 | 300 | 1,000 | 5.7 | 200 | |||||
Midas, Nevada | 100% | 0 | 76.7 | 40 | 100 | 264.6 | 700 | 100 | 235.8 | 740 | 300 | 245.4 | 2,500 | ||||
Phoenix, Nevada | 100% | 5,700 | 6.3 | 1,200 | 174,000 | 6.4 | 35,700 | 179,700 | 6.4 | 36,900 | 106,300 | 6.9 | 23,700 | ||||
Phoenix Stockpiles, Nevada(4) | 100% | 0 | 0 | 0 | 0 | 0 | 0 | 2,100 | 3.1 | 200 | |||||||
TOTAL NORTH AMERICA | 5,700 | 6.5 | 1,240 | 175,300 | 6.5 | 36,700 | 181,000 | 6.5 | 37,940 | 109,700 | 7.5 | 26,600 | |||||
South America | |||||||||||||||||
Conga, Peru | 51.35% | 0 | 0 | 81,000 | 1.6 | 4,200 | 81,000 | 1.6 | 4,200 | 89,900 | 1.1 | 3,300 | |||||
Yanacocha, Peru | 51.35% | 11,500 | 14.9 | 5,500 | 15,100 | 2.7 | 1,300 | 26,600 | 8.0 | 6,800 | 9,100 | 14.6 | 4,300 | ||||
TOTAL SOUTH AMERICA | 11,500 | 14.9 | 5,500 | 96,100 | 1.8 | 5,500 | 107,600 | 3.2 | 11,000 | 99,000 | 2.4 | 7,600 | |||||
Asia Pacific | |||||||||||||||||
Batu Hijau, Indonesia(5) | 48.5% | 7,300 | 1.3 | 300 | 128,200 | 0.9 | 3,700 | 135,500 | 0.9 | 4,000 | 25,000 | 0.5 | 400 | ||||
TOTAL ASIA PACIFIC | 7,300 | 1.3 | 300 | 128,200 | 0.9 | 3,700 | 135,500 | 0.9 | 4,000 | 25,000 | 0.5 | 400 | |||||
TOTAL NEWMONT WORLDWIDE | 24,500 | 8.9 | 7,040 | 399,600 | 3.6 | 45,900 | 424,100 | 3.9 | 52,940 | 233,700 | 4.6 | 34,600 | |||||
See Footnotes under Silver Resources U.S. units table. |
To view more detailed financial disclosure, including regional mine statistics, Results of Consolidated Operations, Liquidity and Capital Resources, Management's Discussion & Analysis, relevant Risk Factors, and a complete outline of the 2012 Operating and Financial guidance by region, please see the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 22, 2013, available at www.newmont.com.
Newmont Mining Corporation (NYSE: NEM) announced it will report Fourth Quarter and Year-End 2012 results after the market closes on Thursday, February 21, 2013. A conference call will be held on Friday, February 22 at 10:00 a.m. Eastern Time (8:00 a.m. Mountain Time); it will also be carried on the Company's website.
Conference Call Details | |
Dial-In Number | 888.566.1822 |
Intl Dial-In Number | 312.470.7116 |
Leader | John Seaberg |
Passcode | Newmont |
Replay Number | 866-380-6745 |
Intl Replay Number | 203-369-0348 |
Replay Passcode | 2013 |
Webcast Details | |
URL | http://services.choruscall.com/links/newmont130222.html |
The Fourth Quarter and Year-End 2012 results and related financial and statistical information will be available after the market close on Thursday, February 21, 2013 on the "Investor Relations" section of the Company's web site, www.newmont.com. Additionally, the conference call will be archived for a limited time on the Company's website.
Cautionary Statement Regarding Forward Looking Statements, Including 2013 Outlook:
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may
include, without limitation: (i) estimates of future production and sales; (ii) estimates of future costs applicable to sales; (iii) estimates of future consolidated and attributable capital expenditures, CAS, and all-in sustaining cost; (iv) estimates of future exploration spending; and (v) expectations regarding the development, growth and exploration potential of the Company's projects. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the Company's projects being consistent with current expectations and mine plans; (iii) political developments in any jurisdiction in which the
Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar to the U.S. dollar, as well as other the exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper and oil; (vi) prices for key supplies being approximately consistent with current levels; and (vii) the accuracy of our current mineral reserve and mineral resource estimates. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such 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 the "forward-looking statements". Such risks
include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational risks, community relations, conflict resolution and outcome of projects or oppositions and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company's 2012 Form 10-K, filed on February 22, 2013, with the Securities and Exchange Commission, as well as the Company's other SEC filings. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be
required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. Continued reliance on "forward-looking statements" is at investors' own risk.
Cautionary Statement regarding Reserves and Resource:
Ian Douglas, Newmont's Group Executive of Reserves, is the qualified person responsible for the preparation of the Reserve and Resource estimates in this presentation. The Reserves disclosed in this presentation have been prepared in compliance with Industry Guide 7 published by the SEC. As used in this news release, 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 this definition, 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 this definition, 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 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. Reserves in this news release may be aggregated from the Proven and Probable classes. The terms "Mineral Resources" or "Resources" and Measured, Indicated and Inferred resources are used in this news release. Investors are advised that the SEC does not recognize these terms. Newmont has determined that such Resources would be substantively the same as those prepared using the Guidelines established by the Society of Mining, Metallurgy and Exploration and defined as Mineral
Resources. Estimates of Resources are subject to further exploration and development, are subject to additional risks, and no assurance can be given that they will eventually convert to future Mineral Reserves of the company. Inferred Resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. Investors are cautioned not to assume that any part or all of the Inferred Resource exists, or is economically or legally mineable. Also, disclosure of contained ounces is permitted under SME and other regulatory guideline; however, the SEC generally requires mineral resource information to be reported only as in-place tonnage and grade. In addition, our current or future reserves and exploration and development projects may not result in new mineral producing operations. Even if significant mineralization is discovered and converted
to reserves, it will likely take many years from the initial phases of exploration to development and ultimately to production, during which time the economic feasibility of production may change. Additionally, references to "attributable ounces," "attributable pounds" and "attributable mineralization" in this news release are intended to mean that portion of gold or copper produced, sold or included in Proven and Probable Reserves or Resources that is attributable to our ownership or economic interest.
CONTACT: Investors, John Seaberg, +1-303-837-5743, john.seaberg@newmont.com, or Karli Anderson, +1-303-837-6049 karli.anderson@newmont.com, or Media, Omar Jabara, +1-303-837-5114. omar.jabara@newmont.com, or Diane Reberger, +1-303-967-9455, diane.reberger@newmont.com