Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in millions except ratio)

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

	Years Ended December 31,
	2007			2006		2005		2004		2003
Earnings:
(Loss) income from continuing operations before income tax expense and accounting change (1) (2)	$	(352	)	$	1,250	$	924	$	1,048	$	576
Adjustments:
Fixed charges added to earnings		112			103		101		101		91
Dividends from equity affiliates		2			1		—		2		2
Amortization of capitalized interest		18			13		16		16		9
	$	(220	)	$	1,367	$	1,041	$	1,167	$	678
Fixed Charges:
Net interest expense(3)	$	105		$	97	$	97	$	97	$	88
Portion of rental expense representative of interest		7			6		4		4		3
Fixed charges added to earnings		112			103		101		101		91
Capitalized interest		50			57		39		13		9
	$	162		$	160	$	140	$	114	$	100
Ratio of earnings to fixed charges		(4	)		8.5		7.4		10.2		6.8

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

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

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

⁽⁴⁾ Earnings for 2007 were inadequate to cover fixed charges by $382.