-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AW06ybn3ccKhYdMIvgrjog4e6OcavLZO5bYCDAxENKjijV2vrzWiJjSLN6gKhkfT uas2Sb8jzk2PLZWiOmOoNA== 0001275287-05-000401.txt : 20050203 0001275287-05-000401.hdr.sgml : 20050203 20050203110027 ACCESSION NUMBER: 0001275287-05-000401 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050203 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050203 DATE AS OF CHANGE: 20050203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEWMONT MINING CORP /DE/ CENTRAL INDEX KEY: 0001164727 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 841611629 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31240 FILM NUMBER: 05571849 BUSINESS ADDRESS: STREET 1: 1700 LINCOLN STREET CITY: DENVER STATE: CO ZIP: 80203 BUSINESS PHONE: 303-863-7414 MAIL ADDRESS: STREET 1: 1700 LINCOLN STREET CITY: DENVER STATE: CO ZIP: 80203 FORMER COMPANY: FORMER CONFORMED NAME: DELTA HOLDCO CORP DATE OF NAME CHANGE: 20020109 8-K 1 nm1967.txt ================================================================================ 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 3, 2005 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. 1700 Lincoln Street, Denver, Colorado 80203 --------------------------------------------------- (Address of principal executive offices) (zip code) (303) 863-7414 ---------------------------------------------------- (Registrant's telephone number, including area code) 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)) Not Applicable ------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) ================================================================================ ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On February 3, 2005, Newmont Mining Corporation issued a news release reporting its production and proven and probable reserves for year ended December 31, 2004. A copy of the news release is furnished as Exhibit 99.1 to this report. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits Exhibit Number Description of Exhibit - -------------- ---------------------- 99.1 News Release dated February 3, 2005 2 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. By: /s/ Bruce D. Hansen ------------------------- Name: Bruce D. Hansen Title: Senior Vice President and Chief Financial Officer Dated: February 3, 2005 3 EXHIBIT INDEX Exhibit Number Description of Exhibit - -------------- ---------------------- 99.1 News Release dated February 3, 2005 4 EX-99.1 2 nm1967ex991.txt Exhibit 99.1 NEWMONT REPORTS RECORD EQUITY GOLD RESERVES OF 92.4 MILLION OUNCES AT YEAR-END 2004 DENVER, Feb. 3 /PRNewswire-FirstCall/ -- Newmont Mining Corporation (NYSE: NEM) reported record proven and probable gold reserves of 92.4 million equity ounces for year-end 2004, based on a gold price assumption of $350 per ounce. Commenting on the exploration results, Chairman and Chief Executive Officer Wayne W. Murdy said, "In 2004, we again exceeded our goal of replacing depletion through exploration and had another year of reserve growth, adding 8.6 million equity ounces." Describing the exploration results, President Pierre Lassonde said, "Our reserve growth highlights the strength of our exploration team, our extensive land position and our proprietary technologies. We had another outstanding year in Ghana, adding 4.1 million equity ounces and increasing equity reserves by 35% to 16.0 million ounces. Nevada also more than replaced depletion, adding 3.2 million ounces and increasing reserves to a record 33.7 million equity ounces." The Company also updated its equity gold reserve price sensitivity. As illustrated below, if calculated at gold prices of $375 and $400 per ounce, gold reserves would increase to approximately 98 million ounces and 101 million ounces, respectively. The full impact of higher gold prices on our equity gold reserves is constrained by limited drill data on the margins of known mineralization. 2004 Exploration Highlights * In Ghana, reserves increased by 4.1 million equity ounces to 16.0 million equity ounces. * In Nevada, reserves net of depletion grew to a 39-year record of 34.0 million equity ounces, with 2.3 million ounces added at Phoenix. * In Peru, 4.5 million equity ounces were added at Minas Conga. * In Indonesia, Batu Hijau replaced equity gold reserves net of depletion. Cautionary Statement This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor created by such sections. Such forward-looking statements include, without limitation, estimates of reserves or estimates of mineralized material not in reserves. 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, forward-looking 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 such 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, as well as political and operational risks in the countries in which we operate and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company's 2003 Annual Report on Form 10-K, which is on file 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 any revisions to any "forward- looking statement," 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. Table 1: Equity Proven, Probable, and Combined Gold Reserves (1) - U.S. Units December 31, 2004 Gold Proven Reserves Equity ------------------------------- Deposits/Districts Ownership Tonnage Grade Au - ------------------------------- --------- ---------- -------- --------- (%) (000 tons) (oz/ton) (000 ozs) North America Nevada Carlin Open Pit (2) 100.0% 16,100 0.070 1,130 Twin Creeks 100.0% 14,900 0.083 1,240 Lone Tree Complex 100.0% 2,700 0.099 270 Phoenix (3) 100.0% 0 0 Carlin Underground (4) 100.0% 1,900 0.65 1,230 Midas (5) 100.0% 700 0.68 460 Tuquoise Ridge (6) 25.0% 1,100 0.61 690 Nevada Stockpiles (7) 100.0% 26,000 0.091 2,360 Nevada In-Process (8) 100.0% 45,700 0.021 940 Sub-Total Nevada 109,100 0.076 8,320 Other North America Golden Giant, Ontario 100.0% 0 0 Holloway, Ontario (9) 93.87% 500 0.16 80 La Herradura, Sonora 44.0% 11,300 0.025 280 Sub-Total Other North America 11,800 0.030 360 TOTAL NORTH AMERICA 120,900 0.072 8,680 South America Yanacocha Pits (10) 51.35% 40,400 0.026 1,060 Yanacocha In-Process (8) 51.35% 29,000 0.028 820 Total Yanacocha Peru 51.35% 69,400 0.027 1,880 Minas Congas, Peru (11) 51.35% 0 0 Kori Kollo, Bolivia (12) 88.0% 5,900 0.017 100 TOTAL SOUTH AMERICA 75,300 0.026 1,980 Australia/New Zealand Boddington, Western Australia (13) 44.44% 61,000 0.027 1,670 Golden Grove, Western Australia (14) 100.0% 2,400 0.025 60 Kalgoorlie Pits and Underground 50.0% 35,600 0.061 2,190 Kalgoorlie Stockpiles (7) 50.0% 12,400 0.035 430 Total Kalgoorlie, Western Australia (15) 50.0% 48,000 0.055 2,620 Pajingo, Queensland 100.0% 200 0.47 110 Tanami Underground and Pits 100.0% 4,800 0.19 890 Tanami Stockpiles (7) 100.0% 1,100 0.079 90 Total Tanami, Northern Territories 100.0% 5,900 0.17 980 Jundee, Western Australia 100.0% 3,100 0.047 140 Bronzewing, Western Australia (16) 100.0% 0 0 Martha, New Zealand (17) 100.0% 0 0 TOTAL AUSTRALIA/NEW ZEALAND 120,600 0.046 5,580 Asia and Europe Batu Hijau Pit 52.875% 148,600 0.013 1,910 Batu Hijau Stockpiles (7) 52.875% 0 0 Total Batu Hijau, Indonesia (18) 52.875% 148,600 0.013 1,910 Minahasa, Indonesia (19) 94.0% 0 0 Ovacik, Turkey (20) 100.0% 200 0.38 70 Perama, Greece (21) 80.0% 0 0 Zarafshan, Uzbekistan (22) 50.0% 53,800 0.037 1,940 TOTAL ASIA AND EUROPE 202,600 0.019 3,920 Africa Akyem, Ghana (23) 85.0% 0 0 Ahafo, Ghana (24) 100.0% 0 0 TOTAL AFRICA 0 0 TOTAL NEWMONT WORLDWIDE 519,400 0.039 20,160 Table 1: Equity Proven, Probable, and Combined Gold Reserves (1) - U.S. Units December 31, 2004 Gold Probable Reserves ------------------------------- Deposits/Districts Tonnage Grade Au - ----------------------------------------- ---------- -------- --------- (000 tons) (oz/ton) (000 ozs) North America Nevada Carlin Open Pit (2) 185,500 0.045 8,290 Twin Creeks 46,900 0.073 3,420 Lone Tree Complex 11,300 0.054 610 Phoenix (3) 248,000 0.034 8,470 Carlin Underground (4) 6,800 0.47 3,180 Midas (5) 2,200 0.45 990 Tuquoise Ridge (6) 600 0.62 360 Nevada Stockpiles (7) 4,300 0.058 250 Nevada In-Process (8) 1,300 0.062 80 Sub-Total Nevada 506,900 0.051 25,650 Other North America Golden Giant, Ontario 500 0.31 160 Holloway, Ontario (9) 900 0.19 180 La Herradura, Sonora 11,000 0.030 330 Sub-Total Other North America 12,400 0.054 670 TOTAL NORTH AMERICA 519,300 0.051 26,320 South America Yanacocha Pits (10) 307,800 0.033 10,210 Yanacocha In-Process (8) 0 0 Total Yanacocha Peru 307,800 0.033 10,210 Minas Congas, Peru (11) 190,500 0.023 4,470 Kori Kollo, Bolivia (12) 16,600 0.022 370 TOTAL SOUTH AMERICA 514,900 0.029 15,050 Australia/New Zealand Boddington, Western Australia (13) 129,900 0.025 3,180 Golden Grove, Western Australia (14) 2,100 0.069 140 Kalgoorlie Pits and Underground 39,800 0.064 2,560 Kalgoorlie Stockpiles (7) 0 0 Total Kalgoorlie, Western Australia (15) 39,800 0.064 2,560 Pajingo, Queensland 1,700 0.32 540 Tanami Underground and Pits 7,300 0.14 1,060 Tanami Stockpiles (7) 3,000 0.037 110.0 Total Tanami, Northern Territories 10,300 0.11 1,170 Jundee, Western Australia 5,300 0.24 1,270 Bronzewing, Western Australia (16) 0 0 Martha, New Zealand (17) 4,400 0.15 670 TOTAL AUSTRALIA/NEW ZEALAND 193,500 0.049 9,530 Asia and Europe Batu Hijau Pit 440,100 0.011 5,000 Batu Hijau Stockpiles (7) 86,400 0.004 300 Total Batu Hijau, Indonesia (18) 526,500 0.010 5,300 Minahasa, Indonesia (19) 0 0 Ovacik, Turkey (20) 200 0.15 30 Perama, Greece (21) 0 0 Zarafshan, Uzbekistan (22) 0 0 TOTAL ASIA AND EUROPE 526,700 0.010 5,330 Africa Akyem, Ghana (23) 109,400 0.049 5,410 Ahafo, Ghana (24) 156,900 0.068 10,630 TOTAL AFRICA 266,300 0.060 16,040 TOTAL NEWMONT WORLDWIDE 2,020,700 0.036 72,270 Table 1: Equity Proven, Probable, and Combined Gold Reserves (1) - U.S. Units December 31, 2004 Gold Proven + Probable Reserves ------------------------------- Metallurgical Deposits/Districts Tonnage Grade Au Recovery - ------------------------------- ---------- -------- --------- ------------- (000 tons) (oz/ton) (000 ozs) (%) North America Nevada Carlin Open Pit (2) 201,600 0.047 9,420 74% Twin Creeks 61,800 0.075 4,660 81% Lone Tree Complex 14,000 0.063 880 81% Phoenix (3) 248,000 0.034 8,470 80% Carlin Underground (4) 8,700 0.51 4,410 94% Midas (5) 2,900 0.51 1,450 96% Tuquoise Ridge (6) 1,700 0.61 1,050 91% Nevada Stockpiles (7) 30,300 0.086 2,610 81% Nevada In-Process (8) 47,000 0.022 1,020 65% Sub-Total Nevada 616,000 0.055 33,970 81% Other North America Golden Giant, Ontario 500 0.31 160 96% Holloway, Ontario (9) 1,400 0.18 260 94% La Herradura, Sonora 22,300 0.027 610 66% Sub-Total Other North America 24,200 0.042 1,030 78% TOTAL NORTH AMERICA 640,200 0.055 35,000 81% South America Yanacocha Pits (10) 348,200 0.032 11,270 67% Yanacocha In-Process (8) 29,000 0.028 820 77% Total Yanacocha Peru 377,200 0.032 12,090 69% Minas Congas, Peru (11) 190,500 0.023 4,470 75% Kori Kollo, Bolivia (12) 22,500 0.021 470 63% TOTAL SOUTH AMERICA 590,200 0.029 17,030 70% Australia/New Zealand Boddington, Western Australia (13) 190,900 0.025 4,850 82% Golden Grove, Western Australia (14) 4,500 0.045 200 62% Kalgoorlie Pits and Underground 75,400 0.063 4,750 87% Kalgoorlie Stockpiles (7) 12,400 0.035 430 87% Total Kalgoorlie, Western Australia (15) 87,800 0.059 5,180 87% Pajingo, Queensland 1,900 0.34 650 96% Tanami Underground and Pits 12,100 0.16 1,950 96% Tanami Stockpiles (7) 4,100 0.048 200 95% Total Tanami, Northern Territories 16,200 0.13 2,150 95% Jundee, Western Australia 8,400 0.17 1,410 93% Bronzewing, Western Australia (16) 0 0 n/a Martha, New Zealand (17) 4,400 0.15 670 90% TOTAL AUSTRALIA/NEW ZEALAND 314,100 0.048 15,110 87% Asia and Europe Batu Hijau Pit 588,700 0.012 6,910 81% Batu Hijau Stockpiles (7) 86,400 0.004 300 73% Total Batu Hijau, Indonesia (18) 675,100 0.011 7,210 80% Minahasa, Indonesia (19) 0 0 n/a Ovacik, Turkey (20) 400 0.25 100 96% Perama, Greece (21) 0 0 n/a Zarafshan, Uzbekistan (22) 53,800 0.037 1,940 57% TOTAL ASIA AND EUROPE 729,300 0.013 9,250 75% Africa Akyem, Ghana (23) 109,400 0.049 5,410 89% Ahafo, Ghana (24) 156,900 0.068 10,630 88% TOTAL AFRICA 266,300 0.060 16,040 88% TOTAL NEWMONT WORLDWIDE 2,540,100 0.036 92,430 81% Table 1: Equity Proven, Probable, and Combined Gold Reserves (1) - U.S. Units December 31, 2003 Gold Proven + Probable Reserves ------------------------------- Deposits/Districts Tonnage Grade Au - ----------------------------------------- ---------- -------- --------- (000 tons) (oz/ton) (000 ozs) North America Nevada Carlin Open Pit (2) 222,800 0.044 9,870 Twin Creeks 62,200 0.077 4,770 Lone Tree Complex 16,300 0.086 1,390 Phoenix (3) 175,700 0.035 6,150 Carlin Underground (4) 8,800 0.55 4,850 Midas (5) 3,400 0.58 1,950 Tuquoise Ridge (6) 2,100 0.59 1,220 Nevada Stockpiles (7) 28,900 0.092 2,640 Nevada In-Process (8) 31,700 0.028 900 Sub-Total Nevada 551,900 0.061 33,740 Other North America Golden Giant, Ontario 1,100 0.30 330 Holloway, Ontario (9) 1,900 0.19 360 La Herradura, Sonora 26,000 0.030 780 Sub-Total Other North America 29,000 0.051 1,470 TOTAL NORTH AMERICA 580,900 0.061 35,210 South America Yanacocha Pits (10) 504,200 0.030 15,300 Yanacocha In-Process (8) 33,500 0.029 980 Total Yanacocha Peru 537,700 0.030 16,280 Minas Congas, Peru (11) 0 0 Kori Kollo, Bolivia (12) 18,000 0.020 370 TOTAL SOUTH AMERICA 555,700 0.030 16,650 Australia/New Zealand Boddington, Western Australia (13) 190,900 0.025 4,850 Golden Grove, Western Australia (14) 3,500 0.035 120 Kalgoorlie Pits and Underground 85,900 0.064 5,500 Kalgoorlie Stockpiles (7) 11,100 0.036 400 Total Kalgoorlie, Western Australia (15) 97,000 0.061 5,890 Pajingo, Queensland 2,500 0.329 830 Tanami Underground and Pits 15,200 0.166 2,500 Tanami Stockpiles (7) 4,500 0.049 220 Total Tanami, Northern Territories 19,700 0.138 2,720 Jundee, Western Australia 10,000 0.171 1,700 Bronzewing, Western Australia (16) 300 0.108 30 Martha, New Zealand (17) 5,300 0.14 760 TOTAL AUSTRALIA/NEW ZEALAND 329,200 0.051 16,900 Asia and Europe Batu Hijau Pit 544,500 0.013 6,880 Batu Hijau Stockpiles (7) 70,800 0.003 230 Total Batu Hijau, Indonesia (18) 615,300 0.012 7,110 Minahasa, Indonesia (19) 400 0.140 50 Ovacik, Turkey (20) 500 0.330 170 Perama, Greece (21) 9,700 0.108 1,050 Zarafshan, Uzbekistan (22) 61,500 0.037 2,260 TOTAL ASIA AND EUROPE 687,400 0.015 10,630 Africa Akyem, Ghana (23) 80,000 0.054 4,280 Ahafo, Ghana (24) 108,600 0.070 7,630 TOTAL AFRICA 188,600 0.063 11,910 TOTAL NEWMONT WORLDWIDE 2,341,800 0.039 91,300 (1) Reserves are calculated at US$350, A$550, or NZ$650 per ounce gold price unless otherwise noted. 2003 reserves were calculated at a US$325, A$545, or NZ$665 per ounce gold price unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000 and gold ounces have been rounded to the nearest 10,000. (2) Includes undeveloped reserves at Castle Reef, North Lantern and Emigrant deposits for combined total undeveloped reserves of 1,450,000 ounces. (3) Deposit is currently undeveloped except for minor leach production. Construction of facilities began in November 2004. (4) Includes partially developed reserves at Leeville, which contains total reserves of 2,610,000 ounces. (5) Also contains reserves of over 18 million ounces of silver with a metallurgical recovery of 91%. (6) Reserve estimates provided by Placer Dome, the operator of the Turquoise Ridge Joint Venture. (7) Stockpiles are primarily 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. Stockpiles are reported separately where tonnage or contained ounces are greater than 5 percent of the total site reported reserves and contained ounces are greater than 100,000 ounces. (8) Material in-process represents that material on leach pads at the end of the year from which gold remains to be recovered. Material in-process is reported separately where tonnage or contained ounces are greater than 5 percent of the total site reported reserves and contained ounces are greater than 100,000 ounces. (9) Percentage reflects Newmont's weighted equity interest from 84.65% interest in Holloway JV and 100% interest in remaining reserves. In 2003 this percentage was 91.5%. Property includes currently undeveloped reserves at the Blacktop deposit of 80,000 ounces. (10) Reported reserves are based on Newmont's 51.35% equity interest. Yanacocha is consolidated on a 100% basis for accounting purposes, then the minority interests of our partners are recognized. Reserves include currently undeveloped deposits at Corimayo and Chaquicocha Sur, which contain combined undeveloped reserves of 2,970,000 equity ounces. (11) Deposit is undeveloped. (12) Reserves at Kori Chaca containing 300,000 equity ounces are currently being developed. (13) As in 2003, reserves were calculated at a A$425 per ounce gold price, and accounted for on an equity basis. Deposit is currently undeveloped. (14) Gold reported in reserves is contained within zinc and copper ore bodies. (15) Reserve based on A$560 per ounce gold price. Percentage reflects Newmont's equity interest. Pro-rata consolidated for accounting purposes. (16) Property was sold in 2004 after reserves were depleted. (17) Includes currently undeveloped reserves at the Favona deposit containing 350,000 ounces. (18) Percentage reflects Newmont's economic interest in remaining reserves. (19) Processing of remaining stockpiles was completed in August 2004. (20) Mine has been shut down since September 2004, pending re-issuance of operating permits from the Turkish government. (21) Property sold in December 2004. (22) Reserves are primarily designated stockpile material. (23) Deposits are currently undeveloped. Construction of facilities began in November 2004. (24) Deposit is undeveloped. Table 2: Equity Base Metal Reserves - U.S. Units Copper (1)
December 31, 2004 Copper Proven Reserve Equity ------------------------------------------ Copper Ownership Tonnage Grade Copper - ------------------------------------ ------------ ------------ ------------ ------------ (%) (000 tons) (Cu%) (million pounds) Phoenix, Nevada (2) 100.0% 0 0 Minas Conga, Peru (3) 51.35% 0 0 Batu Hijau 52.875% 148,700 0.50% 1,480 Batu Hijau, Stockpiles (4) 52.875% 0 0 Total Batu Hijau, Indonesia (5) 52.875% 148,700 0.50% 1,480 Boddington, Western Australia (6) 44.44% 61,000 0.12% 140 Golden Grove, Western Australia 100.0% 3,100 2.91% 180 TOTAL NEWMONT COPPER 212,800 0.42% 1,800
Zinc (7)
December 31, 2004 Zinc Proven Reserve Equity ------------------------------------------ Zinc Ownership Tonnage Grade Zinc - ------------------------------------ ------------ ------------ ------------ ------------ (%) (000 tons) (Zn%) (million pounds) Golden Grove, Western Australia 100.0% 900 11.8% 200 TOTAL NEWMONT ZINC 900 11.8% 200
Table 2: Equity Base Metal Reserves - U.S. Units Copper (1) December 31, 2004 Copper Probable Reserve ------------------------------------------ Copper Tonnage Grade Copper - ----------------------------------- ------------ ------------ ------------ (000 tons) (Cu%) (million pounds) Phoenix, Nevada (2) 216,700 0.15% 660 Minas Conga, Peru (3) 190,600 0.30% 1,140 Batu Hijau 440,200 0.47% 4,120 Batu Hijau, Stockpiles (4) 86,500 0.38% 660 Total Batu Hijau, Indonesia (5) 526,700 0.45% 4,780 Boddington, Western Australia (6) 129,700 0.13% 330 Golden Grove, Western Australia 5,600 1.60% 180 TOTAL NEWMONT COPPER 1,069,300 0.33% 7,090 Zinc (7) December 31, 2004 Zinc Probable Reserve ------------------------------------------ Zinc Tonnage Grade Zinc - ----------------------------------- ------------ ------------ ------------ (000 tons) (Zn%) (million pounds) Golden Grove, Western Australia 1,800 14.7% 530 TOTAL NEWMONT ZINC 1,800 14.7% 530 Table 2: Equity Base Metal Reserves - U.S. Units Copper (1) December 31, 2004
Copper Proven + Probable Reserve ------------------------------------------ Metallurgical Copper Tonnage Grade Copper Recovery - ------------------------------------ ------------ ------------ ------------ ------------- (000 tons) (Cu%) (million (%) pounds) Phoenix, Nevada (2) 216,700 0.15% 660 67% Minas Conga, Peru (3) 190,600 0.30% 1,140 90% Batu Hijau 588,900 0.48% 5,600 86% Batu Hijau, Stockpiles (4) 86,500 0.38% 660 80% Total Batu Hijau, Indonesia (5) 675,400 0.46% 6,260 85% Boddington, Western Australia (6) 190,700 0.12% 470 84% Golden Grove, Western Australia 8,700 2.07% 360 88% TOTAL NEWMONT COPPER 1,282,100 0.35% 8,890 84%
Zinc (7) December 31, 2004
Zinc Proven + Probable Reserve ------------------------------------------ Metallurgical Zinc Tonnage Grade Zinc Recovery - ------------------------------------ ------------ ------------ ------------ ------------- (000 tons) (Zn%) (million (%) pounds) Golden Grove, Western Australia 2,700 13.8% 730 91% TOTAL NEWMONT ZINC 2,700 13.8% 730 91%
Table 2: Equity Base Metal Reserves - U.S. Units Copper (1) December 31, 2003 Copper Proven + Probable Reserve ------------------------------------------ Copper Tonnage Grade Copper - ----------------------------------- ------------ ------------ ------------ (000 tons) (Cu%) (million pounds) Phoenix, Nevada (2) 159,600 0.13% 420 Minas Conga, Peru (3) 0 0 Batu Hijau 544,500 0.53% 5,760 Batu Hijau, Stockpiles (4) 70,800 0.38% 530 Total Batu Hijau, Indonesia (5) 615,300 0.51% 6,290 Boddington, Western Australia (6) 190,700 0.12% 470 Golden Grove, Western Australia 7,800 2.20% 350 TOTAL NEWMONT COPPER 973,400 0.39% 7,530 Zinc (7) December 31, 2003 Zinc Proven + Probable Reserve ------------------------------------------ Zinc Tonnage Grade Zinc - ----------------------------------- ------------ ------------ ------------ (000 tons) (Zn%) (million pounds) Golden Grove, Western Australia 1,800 12.8% 480 TOTAL NEWMONT ZINC 1,800 12.8% 480 (1) Reserves are calculated at US$0.90 or A$1.45 per pound copper price unless otherwise noted. 2003 reserves were calculated at a US$0.75 or A$1.35 per pound copper price unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000 and copper pounds have been rounded to the nearest 10,000,000. (2) Deposit is currently undeveloped except for minor gold leach production. Construction of facilities began in November 2004. (3) Deposit is undeveloped. (4) Stockpiles are primarily 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. Stockpiles are reported separately where tonnage or contained metal are greater than 5 percent of the total site reported reserves. (5) Percentage reflects Newmont's economic interest in remaining reserves. (6) As in 2003, reserves are calculated at a A$425 per ounce gold price and a A$1.25 per pound copper price, and accounted for on an equity basis. Deposit is undeveloped. (7) Reserves are calculated at a A$0.62 per pound zinc price. 2003 reserves were calculated at a A$0.71 per pound zinc price. Tonnage amounts have been rounded to the nearest 100,000 and zinc pounds have been rounded to the nearest 10,000,000. Table 3: Equity Gold Mineralized Material not in Reserves - U.S. Units December 31, 2004 (1)
Gold Measured Gold Indicated Material Material Deposits/ Equity --------------------------- --------------------------- Districts Ownership Tonnage Grade Tonnage Grade - --------------------- ------------ ------------ ------------ ------------ ------------ (%) (000 tons) (oz/ton) (000 tons) (oz/ton) North America Nevada Carlin Trend Open Pit 100.0% 800 0.027 12,400 0.022 Twin Creeks 100.0% 3,000 0.080 12,300 0.076 Lone Tree Complex 100.0% 3,200 0.040 200 0.121 Phoenix 100.0% 0 33,900 0.022 Total Nevada Open Pit 7,000 0.056 58,800 0.033 Carlin Trend Underground 100.0% 100 0.26 0 Midas 100.0% 0 200 0.58 Turquoise Ridge (2) 25.0% 700 0.39 300 0.35 Total Nevada Underground 800 0.38 500 0.45 Nevada Stockpiles (3) 5,700 0.055 Sub-Total Nevada 13,500 0.075 59,300 0.037 Other North America Golden Giant, Ontario 100.0% 0 300 0.24 Holloway, Ontario (4) 96.7% 200 0.112 300 0.15 La Herradura, Sonora 44.0% 900 0.018 300 0.017 Mezcala, Guerrero (5) 44.0% 0 45,400 0.023 Sub-Total Other North America 1,100 0.033 46,300 0.025 Total North America 14,600 0.072 105,600 0.032 South America Yanacocha, Peru 51.35% 2,000 0.013 98,300 0.026 Minas Conga, Peru 51.35% 0 53,700 0.018 La Zanja, Peru (6) 46.9% 5,200 0.027 3,800 0.024 Kori Kollo, Bolivia 88.0% 0 16,800 0.020 Total South America 7,200 0.023 172,600 0.023 Australia/New Zealand Boddington, Western Australia (7) 44.44% 2,200 0.021 50,800 0.024 Golden Grove, Western Australia 100.0% 300 0.040 1,400 0.078 Kalgoorlie, Western Australia 50.0% 3,900 0.067 8,900 0.068 Pajingo, Queensland 100.0% 0 400 0.22 Tanami, Northern Territory 100.0% 0 900 0.067 Jundee, Western Australia 100.0% 0 1,300 0.12 Martha, New Zealand 100.0% 0 900 0.27 TOTAL AUSTRALIA/ NEW ZEALAND 6,400 0.049 64,600 0.038 Asia and Europe Batu Hijau, Indonesia- Gold (8) 52.875% 20,100 0.008 100,400 0.007 Martabe, Indonesia 95.0% 0 0 Ovacik, Turkey 100.0% 300 0.54 500 0.416 TOTAL ASIA AND EUROPE 20,400 0.015 100,900 0.009 Africa Akyem, Ghana 85.0% 0 29,200 0.050 Ahafo, Ghana 100.0% 0 32,400 0.052 TOTAL AFRICA 0 61,600 0.051 TOTAL NEWMONT WORLDWIDE 48,600 0.038 505,300 0.027
Table 3: Equity Gold Mineralized Material not in Reserves - U.S. Units December 31, 2004 (1)
Gold Measured + Gold Inferred Indicated Material Material Deposits/ --------------------------- --------------------------- Districts Tonnage Grade Tonnage Grade - ---------------------- ------------ ------------ ------------ ------------ (000 tons) (oz/ton) (000 tons) (oz/ton) North America Nevada Carlin Trend Open Pit 13,200 0.022 7,700 0.034 Twin Creeks 15,300 0.077 800 0.043 Lone Tree Complex 3,400 0.044 200 0.116 Phoenix 33,900 0.022 34,900 0.028 Total Nevada Open Pit 65,800 0.036 43,600 0.030 Carlin Trend Underground 100 0.26 3,900 0.47 Midas 200 0.58 700 0.31 Turquoise Ridge (2) 1,000 0.38 800 0.60 Total Nevada Underground 1,300 0.41 5,400 0.47 Nevada Stockpiles (3) 5700 0.055 Sub-Total Nevada 72,800 0.044 49,000 0.078 Other North America Golden Giant, Ontario 300 0.24 0 Holloway, Ontario (4) 500 0.14 100 0.19 La Herradura, Sonora 1,200 0.017 1,200 0.031 Mezcala, Guerrero (5) 45,400 0.023 0 Sub-Total Other North America 47,400 0.025 1,300 0.038 Total North America 120,200 0.037 50,300 0.077 South America Yanacocha, Peru 100,300 0.025 22,600 0.022 Minas Conga, Peru 53,700 0.018 72,700 0.016 La Zanja, Peru (6) 9,000 0.026 0 Kori Kollo, Bolivia 16,800 0.020 0 Total South America 179,800 0.023 95,300 0.018 Australia/New Zealand Boddington, Western Australia (7) 53,000 0.024 112,000 0.023 Golden Grove, Western Australia 1,700 0.072 6,300 0.061 Kalgoorlie, Western Australia 12,800 0.068 600 0.056 Pajingo, Queensland 400 0.22 700 0.32 Tanami, Northern Territory 900 0.067 3,900 0.17 Jundee, Western Australia 1,300 0.12 3,100 0.33 Martha, New Zealand 900 0.27 500 0.37 TOTAL AUSTRALIA/ NEW ZEALAND 71,000 0.039 127,100 0.041 Asia and Europe Batu Hijau, Indonesia- Gold (8) 120,500 0.007 33,000 0.003 Martabe, Indonesia 0 42,600 0.066 Ovacik, Turkey 800 0.46 200 0.38 TOTAL ASIA AND EUROPE 121,300 0.010 75,800 0.039 Africa Akyem, Ghana 29,200 0.050 3,100 0.050 Ahafo, Ghana 32,400 0.052 49,500 0.063 TOTAL AFRICA 61,600 0.051 52,600 0.063 TOTAL NEWMONT WORLDWIDE 553,900 0.028 401,100 0.042
(1) Mineralized material calculated at a gold price of US$375, A$600, or NZ$715 per ounce unless otherwise noted. 2003 mineralized material was calculated at a US$350, A$600, or NZ$715 per ounce gold price. Tonnage amounts have been rounded to the nearest 100,000. (2) Mineralized material estimates were provided by Placer Dome, the operator of the Turquoise Ridge Joint Venture. Placer Dome calculated mineralized material not in reserves using a $425 per ounce gold price assumption. (3) Stockpiles are primarily 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. (4) Percentage reflects Newmont's weighted interest in mineralized material. In 2003, this percentage was 99.3%. (5) Mineralized material estimates were provided by Penoles, the operator of the Mezcala project. Penoles calculated mineralized material at a $400 per ounce gold price. (6) Mineralized material estimates were provided by Buenaventura, the operator of the La Zanja Project. Buenaventura calculated mineralized material at a $350 per ounce gold price. (7) Mineralized material calculated at a A$650 per ounce gold price. (8) Percentage reflects Newmont's economic interest. Table 4: Equity Base Metal Mineralized Material not in Reserves - U.S. Units Copper (1) December 31, 2004 Copper Measured Copper Indicated Material Material Equity ------------------- -------------------- Copper Ownership Tonnage Grade Tonnage Grade - ----------------- --------- ---------- ------- ---------- ------- (%) (000 tons) (Cu%) (000 tons) (Cu%) Phoenix, Nevada 100.0% 0 0.00% 32,000 0.21% Minas Conga, Peru 51.35% 0 0.00% 53,700 0.00% Batu Hijau, Indonesia (2) 52.875% 20,100 0.33% 100,400 0.33% Boddington, Western Australia (3) 44.44% 2,100 0.02% 50,600 0.10% Golden Grove, Western Australia 100.0% 600 3.29% 900 3.53% TOTAL NEWMONT COPPER 22,800 0.38% 237,600 0.26% Zinc (4) December 31, 2004 Zinc Measured Zinc Indicated Material Material Equity ------------------- -------------------- Zinc Ownership Tonnage Grade Tonnage Grade - ----------------- --------- ---------- ------- ---------- ------- (%) (000 tons) (Zn%) (000 tons) (Zn%) Golden Grove, Western Australia 100.0% 100 11.9% 100 10.6% TOTAL NEWMONT ZINC 100 11.9% 100 10.6% Table 4: Equity Base Metal Mineralized Material not in Reserves - U.S. Units Copper (1) December 31, 2004 Copper Measured + Copper Inferred Indicated Material Material -------------------- -------------------- Copper Tonnage Grade Tonnage Grade - ----------------------------- ---------- ------- ---------- ------- (000 tons) (Cu%) (000 tons) (Cu%) Phoenix, Nevada 32,000 0.21% 29,800 0.17% Minas Conga, Peru 53,700 0.00% 72,800 0.26% Batu Hijau, Indonesia (2) 120,500 0.33% 33,000 0.29% Boddington, Western Australia (3) 52,700 0.10% 111,800 0.09% Golden Grove, Western Australia 1,500 3.43% 7,100 1.62% TOTAL NEWMONT COPPER 260,400 0.27% 254,500 0.22% Zinc (4) December 31, 2004 Zinc Measured + Zinc Inferred Indicated Material Material -------------------- -------------------- Zinc Tonnage Grade Tonnage Grade - ----------------------------- ---------- ------- ---------- ------- (000 tons) (Zn%) (000 tons) (Zn%) Golden Grove, Western Australia 200 11.4% 4,600 15.7% TOTAL NEWMONT ZINC 200 11.4% 4,600 15.7% (1) Mineralized material calculated at a copper price of US$0.95 or A$1.50 per pound unless otherwise noted. 2003 mineralized material was calculated at US$0.95 or A$1.73 per pound copper price. Tonnage amounts have been rounded to the nearest 100,000. (2) Percentage reflects Newmont's economic interest in remaining mineralized material. (3) Mineralized material calculated at a copper price of A$1.25 per pound. (4) Mineralized material calculated at a zinc price of A$0.80 per pound. Tonnage amounts have been rounded to the nearest 100,000. SOURCE Newmont Mining Corporation -0- 02/03/2005 /CONTACT: investors, Randy Engel, +1-303-837-6033, randy.engel@newmont.com, or Wendy Yang, +1-303-837-6141, wendy.yang@newmont.com, or Jennifer Van Dinter, +1-303-837-5165, jennifer.vandinter@newmont.com, or media, Doug Hock, +1-303-837-5812, doug.hock@newmont.com, all of Newmont Mining Corporation/ /Web site: http://www.newmont.com/ (NEM) -----END PRIVACY-ENHANCED MESSAGE-----