Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in millions except ratio)

The ratio of earnings to fixed charges represents income before income and mining tax expense, noncontrolling interests, equity income (loss) of affiliates, discontinued operations 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,
	2012		2011		2010		2009		2008
Earnings:
Income before income and mining tax and other items(1)	$	3,114	$	1,810	$	3,997	$	2,954	$	1,294
Adjustments:
Fixed charges added to earnings		272		267		295		135		147
Dividends from equity affiliates		19		31		7		2		—
Amortization of capitalized interest		26		24		26		17		17
	$	3,431	$	2,132	$	4,325	$	3,108	$	1,458
Fixed Charges:
Net interest expense(2)	$	249	$	244	$	279	$	120	$	135
Portion of rental expense representative of interest		23		23		16		15		12
Fixed charges added to earnings		272		267		295		135		147
Capitalized interest		107		52		21		111		47
	$	379	$	319	$	316	$	246	$	194
Ratio of earnings to fixed charges		9.1		6.7		13.7		12.6		7.5

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

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