Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS

(Amounts in millions except ratio)

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

	For the Year Ended December 31,
	2005		2004		2003		2002			2001
Earnings:
Income (loss) from continuing operations before income tax expense and accounting change(1)	$	1,064	$	1,111	$	931	$	213		$	(61	)
Adjustments:
Fixed charges added to earnings		102		102		92		133			101
Dividends from equity affiliates		—		2		2		—			—
Preferred dividends		—		—		—		(6	)		(11	)
Amortization of capitalized interest		16		16		9		9			7
	$	1,182	$	1,231	$	1,034	$	349		$	36
Fixed Charges:
Net interest expense(2)	$	98	$	98	$	89	$	130		$	98
Portion of rental expense representative of interest		4		4		3		3			3
Fixed charges added to earnings		102		102		92		133			101
Capitalized interest		39		13		9		5			11
Preferred dividends		—		—		—		6			11
	$	141	$	115	$	101	$	144		$	123
Ratio of earnings to fixed charges		8.4		10.7		10.2		2.4			(3	)

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

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

⁽³⁾ The ratio was less than 1:1 for the year ended December 31, 2001, as earnings were inadequate to cover fixed charges by deficiencies of $87.