10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

Form 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended June 30, 2018

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from  to

Commission File Number: 001-31240

NEWMONT MINING CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	84-1611629
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)
6363 South Fiddler’s Green Circle
Greenwood Village, Colorado	80111
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code (303) 863-7414

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    ☒  Yes    ☐  No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    ☒  Yes    ☐  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12-b2 of the Exchange Act.

Large accelerated filer	☒		Accelerated filer	☐
Non-accelerated filer	☐	(Do not check if a smaller reporting company.)	Smaller reporting company	☐
			Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12-b2 of the Exchange Act).    ☐  Yes    ☒   No

There were 533,398,733 shares of common stock outstanding on July 19, 2018.

TABLE OF CONTENTS

		Page
	PART I – FINANCIAL INFORMATION
SECOND QUARTER 2018 RESULTS AND HIGHLIGHTS		1
ITEM 1.	FINANCIAL STATEMENTS	3
	Condensed Consolidated Statements of Operations	3
	Condensed Consolidated Statements of Comprehensive Income (Loss)	4
	Condensed Consolidated Statements of Cash Flows	5
	Condensed Consolidated Balance Sheets	6
	Condensed Consolidated Statements of Changes in Equity	7
	Notes to Condensed Consolidated Financial Statements	8
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	52
	Overview	52
	Consolidated Financial Results	52
	Results of Consolidated Operations	58
	Foreign Currency Exchange Rates	65
	Liquidity and Capital Resources	66
	Environmental	68
	Accounting Developments	68
	Non-GAAP Financial Measures	68
	Safe Harbor Statement	78
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	80
ITEM 4.	CONTROLS AND PROCEDURES	82
	PART II – OTHER INFORMATION
ITEM 1.	LEGAL PROCEEDINGS	83
ITEM 1A.	RISK FACTORS	83
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	83
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	83
ITEM 4.	MINE SAFETY DISCLOSURES	83
ITEM 5.	OTHER INFORMATION	84
ITEM 6.	EXHIBITS	84
SIGNATURES		85

NEWMONT MINING CORPORATION

SECOND QUARTER 2018 RESULTS AND HIGHLIGHTS

(unaudited, in millions, except per share, per ounce and per pound)

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Financial Results:
Sales	$	1,662	$	1,875	$	3,479	$	3,565
Gold	$	1,581	$	1,799	$	3,320	$	3,418
Copper	$	81	$	76	$	159	$	147
Costs applicable to sales (1)	$	965	$	999	$	1,994	$	1,956
Gold	$	919	$	955	$	1,901	$	1,873
Copper	$	46	$	44	$	93	$	83
Net income (loss) from continuing operations	$	280	$	166	$	449	$	247
Net income (loss)	$	298	$	151	$	489	$	209
Net income (loss) from continuing operations attributable to Newmont stockholders	$	274	$	190	$	444	$	260
Per common share, diluted:
Net income (loss) from continuing operations attributable to Newmont stockholders	$	0.51	$	0.36	$	0.83	$	0.49
Net income (loss) attributable to Newmont stockholders	$	0.54	$	0.33	$	0.90	$	0.42
Adjusted net income (loss) (2)	$	144	$	248	$	329	$	384
Adjusted net income (loss) per share, diluted (2)	$	0.26	$	0.46	$	0.61	$	0.72
Earnings before interest, taxes and depreciation and amortization (2)	$	633	$	709	$	1,270	$	1,270
Adjusted earnings before interest, taxes and depreciation and amortization (2)	$	545	$	699	$	1,189	$	1,273
Net cash provided by (used in) operating activities of continuing operations					$	667	$	902
Free Cash Flow (2)					$	178	$	539
Cash dividends declared per common share	$	0.14	$	0.05	$	0.28	$	0.10
Operating Results:
Consolidated gold ounces (thousands):
Produced		1,242		1,440		2,528		2,767
Sold		1,224		1,439		2,536		2,767
Attributable gold ounces (thousands):
Produced		1,162		1,352		2,371		2,586
Sold		1,147		1,350		2,378		2,579
Consolidated and attributable copper pounds (millions):
Produced		31		31		57		60
Sold		27		32		54		58
Average realized price:
Gold (per ounce)	$	1,292	$	1,250	$	1,310	$	1,235
Copper (per pound)	$	2.99	$	2.46	$	2.93	$	2.56
Consolidated costs applicable to sales: (1)(2)
Gold (per ounce)	$	751	$	664	$	750	$	677
Copper (per pound)	$	1.70	$	1.38	$	1.72	$	1.43
All-in sustaining costs: (2)
Gold (per ounce)	$	1,024	$	883	$	998	$	891
Copper (per pound)	$	2.05	$	1.69	$	2.06	$	1.72

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

⁽²⁾ See “Non-GAAP Financial Measures” beginning on page 68.  

1

Second Quarter 2018 Highlights

· Net income (loss): Delivered Net income (loss) from continuing operations attributable to Newmont stockholders of $274 or $0.51 per diluted share, an increase of $84 from the prior-year quarter, primarily due to lower income taxes, a gain from the sale of the Company’s royalty portfolio in June 2018 and higher average realized prices, partially offset by lower production at CC&V, Boddington, Akyem and Twin Creeks. 

· Adjusted net income (loss): Delivered Adjusted net income (loss) of $144 or $0.26 per diluted share, a 43% decrease from the prior-year quarter (See “Non-GAAP Financial Measures” beginning on page 68).

· Adjusted EBITDA: Generated $545 in Adjusted EBITDA, a 22% decrease from the prior-year quarter (See “Non-GAAP Financial Measures” beginning on page 68).

· Cash Flow:  Reported Net cash provided by (used in) operating activities of continuing operations of $667 for the six months ended June 30, 2018, a 26% decrease from the prior year, and free cash flow of $178 (See “Non-GAAP Financial Measures” beginning on page 68).

· Portfolio improvements: Agreement to acquire 50% ownership interest in Galore Creek from NovaGold, partnering with Teck Resources Limited; completed Twin Underground and Northwest Exodus projects in Nevada; advanced the Akyem Underground project to prefeasibility study in Africa; welcomed Sumitomo Corporation as a new 5% partner at Yanacocha in Peru; and divested royalty portfolio forming a strategic partnership with Maverix Metals.

· Attributable gold production: Decreased 14% to 1.16 million ounces primarily from lower grades at Carlin, Twin Creeks, Boddington and Akyem and a build of CC&V concentrate inventory to be processed in Nevada.

· Financial strength: Ended the quarter with $3.1 billion cash on hand and net debt under $1.0 billion; an industry-leading balance sheet with investment-grade credit profile; and a quarterly dividend declared of $0.14 per share, an increase of 87% over the prior-year quarter.

Our global project pipeline

Newmont’s capital-efficient project pipeline supports stable production with improving margins and mine life. Near-term development capital projects and those recently completed are presented below. Funding for Subika Underground, Ahafo Mill Expansion, Twin Underground, Quecher Main and Tanami Power projects has been approved and these projects are in execution.

Subika Underground, Africa. This project leverages existing infrastructure and an optimized approach to develop Ahafo’s most promising underground resource. First production was achieved in June 2017 with commercial production expected in the fourth quarter of 2018. The project is expected to have an average annual gold production of between 150,000 and 200,000 ounces per year for the first five years beginning in 2019 with an initial mine life of approximately 11 years. Development capital costs (excluding capitalized interest) since approval were $130, of which $24 related to the second quarter of 2018.

Ahafo Mill Expansion, Africa. This project is designed to maximize resource value by improving production margins and accelerating stockpile processing. The project also supports profitable development of Ahafo’s highly prospective underground resources. The expansion is expected to have an average annual gold production of between 75,000 and 100,000 ounces per year for the first five years beginning in 2020. Development capital costs (excluding capitalized interest) since approval were $83, of which $21 related to the second quarter of 2018. A tragic construction accident occurred in April which resulted in six fatalities. We continue to work with the government of Ghana for a safe restart in August. The delay will shift first gold into the second half of 2019, while commercial production remains in the second half of 2019.

Twin Underground, North America. This project is a portal mine beneath Twin Creek’s Vista surface mine with similar mineralization. First production was achieved in August 2017, and commercial production was declared in July 2018. The expansion will add between 30,000 and 40,000 ounces of gold per year between 2018 and 2022. The project was completed on schedule for $42.

Quecher Main, South America. This project will add oxide production at Yanacocha, leverage existing infrastructure and enable potential future growth at Yanacocha. First production is expected in late 2018 with commercial production in the second half of 2019. Quecher Main extends the life of the Yanacocha operation to 2027 with average annual gold production of about 200,000 ounces per year (on a consolidated basis) between 2020 and 2025. Development capital costs (excluding capitalized interest) since approval were $41, of which $20 related to the second quarter of 2018.

Tanami Power, Australia. This project will lower power costs beginning in 2019, mitigate fuel supply risk and reduce carbon emissions. The project includes a 450 kilometer natural gas pipeline to be constructed connecting the Tanami site to the Amadeus Gas Pipeline, and construction and operation of two on-site power stations. The gas supply, gas transmission and power purchase agreements are for a ten year term with options to extend.

We manage our wider project portfolio to maintain flexibility to address the development risks associated with our projects including permitting, local community and government support, engineering and procurement availability, technical issues, escalating costs and other associated risks that could adversely impact the timing and costs of certain opportunities.

2

PART I—FINANCIAL INFORMATION

ITEM 1.FINANCIAL STATEMENTS.

NEWMONT MINING CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in millions except per share)

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Sales (Note 4)	$	1,662	$	1,875	$	3,479	$	3,565
Costs and expenses:
Costs applicable to sales (1)		965		999		1,994		1,956
Depreciation and amortization		279		310		580		610
Reclamation and remediation (Note 5)		37		43		65		72
Exploration		54		51		94		87
Advanced projects, research and development		36		32		70		58
General and administrative		63		58		122		113
Other expense, net (Note 6)		13		14		24		31
		1,447		1,507		2,949		2,927
Other income (expense):
Other income, net (Note 7)		139		31		160		22
Interest expense, net of capitalized interest		(49)		(64)		(102)		(131)
		90		(33)		58		(109)
Income (loss) before income and mining tax and other items		305		335		588		529
Income and mining tax benefit (expense) (Note 8)		(18)		(166)		(123)		(277)
Equity income (loss) of affiliates		(7)		(3)		(16)		(5)
Net income (loss) from continuing operations		280		166		449		247
Net income (loss) from discontinued operations (Note 9)		18		(15)		40		(38)
Net income (loss)		298		151		489		209
Net loss (income) attributable to noncontrolling interests  (Note 10)		(6)		24		(5)		13
Net income (loss) attributable to Newmont stockholders	$	292	$	175	$	484	$	222
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	274	$	190	$	444	$	260
Discontinued operations		18		(15)		40		(38)
	$	292	$	175	$	484	$	222
Net income (loss) per common share (Note 11):
Basic:
Continuing operations	$	0.52	$	0.36	$	0.84	$	0.49
Discontinued operations		0.03		(0.03)		0.07		(0.07)
	$	0.55	$	0.33	$	0.91	$	0.42
Diluted:
Continuing operations	$	0.51	$	0.36	$	0.83	$	0.49
Discontinued operations		0.03		(0.03)		0.07		(0.07)
	$	0.54	$	0.33	$	0.90	$	0.42
Cash dividends declared per common share	$	0.14	$	0.05	$	0.28	$	0.10

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.

3

NEWMONT MINING CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(unaudited, in millions)

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Net income (loss)	$	298	$	151	$	489	$	209
Other comprehensive income (loss):
Change in marketable securities, net of tax of $-, $-, $- and $-, respectively		(1)		(4)		1		(11)
Foreign currency translation adjustments		(1)		—		(4)		4
Change in pension and other post-retirement benefits, net of tax of $(2), $(1), $(3) and $(5), respectively		4		3		9		9
Change in fair value of cash flow hedge instruments, net of tax of $(2), $(3), $(3) and $(7), respectively		5		5		9		14
Other comprehensive income (loss)		7		4	$	15	$	16
Comprehensive income (loss)	$	305	$	155	$	504	$	225
Comprehensive income (loss) attributable to:
Newmont stockholders	$	299	$	179	$	499	$	238
Noncontrolling interests		6		(24)		5		(13)
	$	305	$	155	$	504	$	225

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.

4

NEWMONT MINING CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

(unaudited, in millions)

	Six Months Ended June 30,
	2018		2017
Operating activities:
Net income (loss)	$	489	$	209
Adjustments:
Depreciation and amortization		580		610
Stock-based compensation (Note 13)		38		35
Reclamation and remediation		61		68
Loss (income) from discontinued operations (Note 9)		(40)		38
Deferred income taxes		(19)		76
Gain on asset and investment sales, net		(99)		(16)
Write-downs of inventory and stockpiles and ore on leach pads		158		92
Other operating adjustments		9		58
Net change in operating assets and liabilities (Note 23)		(510)		(268)
Net cash provided by (used in) operating activities of continuing operations		667		902
Net cash provided by (used in) operating activities of discontinued operations (1)		(5)		(9)
Net cash provided by (used in) operating activities		662		893
Investing activities:
Additions to property, plant and mine development		(489)		(363)
Acquisitions, net		(39)		—
Proceeds from sales of investments		15		19
Purchases of investments		(6)		(113)
Other		2		17
Net cash provided by (used in) investing activities		(517)		(440)
Financing activities:
Dividends paid to common stockholders		(150)		(54)
Repurchase of common stock		(70)		—
Distributions to noncontrolling interests		(69)		(80)
Funding from noncontrolling interests		52		46
Proceeds from sale of noncontrolling interests		48		—
Payments for withholding of employee taxes related to stock-based compensation		(39)		(13)
Other		(3)		(6)
Net cash provided by (used in) financing activities		(231)		(107)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(2)		2
Net change in cash, cash equivalents and restricted cash		(88)		348
Cash, cash equivalents and restricted cash at beginning of period		3,298		2,782
Cash, cash equivalents and restricted cash at end of period	$	3,210	$	3,130
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	3,127	$	3,105
Restricted cash included in Other current assets		1		2
Restricted cash included in Other noncurrent assets		82		23
Total cash, cash equivalents and restricted cash	$	3,210	$	3,130

⁽¹⁾ Net cash provided by (used in) operating activities of discontinued operations includes $(5) and $(6) related to the Holt royalty obligation and $- and $(3) related to closing costs for the sale of Batu Hijau, all of which were paid out of Cash and cash equivalents held for use for the six months ended June 30, 2018 and 2017, respectively. For additional information regarding the Company’s discontinued operations, see Note 9.

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.

5

NEWMONT MINING CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS 

(unaudited, in millions)

	At June 30,		At December 31,
	2018		2017
ASSETS
Cash and cash equivalents	$	3,127	$	3,259
Trade receivables (Note 4)		133		124
Other accounts receivables		101		113
Investments (Note 16)		56		62
Inventories (Note 17)		697		679
Stockpiles and ore on leach pads (Note 18)		711		676
Other current assets		142		153
Current assets		4,967		5,066
Property, plant and mine development, net		12,351		12,338
Investments (Note 16)		353		280
Stockpiles and ore on leach pads (Note 18)		1,837		1,848
Deferred income tax assets		537		549
Other non-current assets		610		565
Total assets	$	20,655	$	20,646
LIABILITIES
Lease and other financing obligations (Note 20)	$	13	$	4
Accounts payable		360		375
Employee-related benefits		240		309
Income and mining taxes payable		71		248
Other current liabilities (Note 21)		396		462
Current liabilities		1,080		1,398
Debt (Note 19)		4,042		4,040
Lease and other financing obligations (Note 20)		66		21
Reclamation and remediation liabilities (Note 5)		2,369		2,345
Deferred income tax liabilities		589		595
Employee-related benefits		392		386
Other non-current liabilities (Note 21)		284		342
Total liabilities		8,822		9,127
Contingently redeemable noncontrolling interest (Note 10)		48		—
EQUITY
Common stock		857		855
Treasury stock		(69)		(30)
Additional paid-in capital		9,595		9,592
Accumulated other comprehensive income (loss) (Note 22)		(162)		(292)
Retained earnings		592		410
Newmont stockholders' equity		10,813		10,535
Noncontrolling interests		972		984
Total equity		11,785		11,519
Total liabilities and equity	$	20,655	$	20,646

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.

6

NEWMONT MINING CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(unaudited, in millions)

									Accumulated								Contingently
							Additional		Other								Redeemable
	Common Stock			Treasury Stock			Paid-In		Comprehensive		Retained		Noncontrolling		Total		Noncontrolling
	Shares	Amount		Shares	Amount		Capital		Income (Loss)		Earnings		Interests		Equity		Interest
	(in millions)
Balance at December 31, 2017	534	$	855	(1)	$	(30)	$	9,592	$	(292)	$	410	$	984	$	11,519	$	—
Cumulative-effect adjustment of adopting ASU No. 2016-01	—		—	—		—		—		115		(115)		—		—		—
Net income (loss)	—		—	—		—		—		—		484		5		489		—
Other comprehensive income (loss)	—		—	—		—		—		15		—		—		15		—
Sale of noncontrolling interest	—		—	—		—		—		—		—		—		—		48
Dividends declared	—		—	—		—		—		—		(150)		—		(150)		—
Distributions declared to noncontrolling interests	—		—	—		—		—		—		—		(69)		(69)		—
Cash calls requested from noncontrolling interests	—		—	—		—		—		—		—		52		52		—
Repurchase and retirement of common stock	(2)		(3)	—		—		(30)		—		(37)		—		(70)		—
Withholding of employee taxes related to stock-based compensation	—		—	(1)		(39)		—		—		—		—		(39)		—
Stock-based awards and related share issuances	3		5	—		—		33		—		—		—		38		—
Balance at June 30, 2018	535	$	857	(2)	$	(69)	$	9,595	$	(162)	$	592	$	972	$	11,785	$	48

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.

7

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 1     BASIS OF PRESENTATION

The interim Condensed Consolidated Financial Statements (“interim statements”) of Newmont Mining Corporation and its subsidiaries (collectively, “Newmont” or the “Company”) are unaudited. In the opinion of management, all adjustments (including normal recurring adjustments) and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year. These interim statements should be read in conjunction with Newmont’s Consolidated Financial Statements for the year ended December 31, 2017 filed on February 22, 2018 on Form 10-K and revisions filed April 26, 2018 on Form 8-K. The year-end balance sheet data was derived from the audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by United States (“U.S.”) generally accepted accounting principles (“GAAP”) have been condensed or omitted. References to “A$” refers to Australian currency and “C$” refers to Canadian currency.

NOTE 2     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Risks and Uncertainties

As a global mining company, the Company’s revenue, profitability and future rate of growth are substantially dependent on prevailing prices for gold and copper. Historically, the commodity markets have been very volatile, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and on the quantities of reserves that the Company can economically produce. The carrying value of the Company’s Property, plant and mine development,  net;Inventories;Stockpiles and ore on leach pads and Deferred income tax assets are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. The Company must make these estimates and assumptions because certain information used is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. Actual results could differ from these estimates.

Contingently Redeemable Noncontrolling Interest

Certain noncontrolling interests in consolidated entities meet the definition of redeemable financial instruments if the ability to redeem the interest is outside of the control of the consolidating entity. In such cases, these financial instruments are required to be classified outside of permanent equity (referred to as temporary equity).

Revenue Recognition

The Company adopted ASC 606, Revenue from contracts with customers, on January 1, 2018. Changes to the accounting policy as a result of adoption are discussed below. 

Newmont generates revenue by selling gold and copper produced from its mining operations. Refer to Note 3 for further information regarding the Company’s operating segments.

The majority of the Company’s Sales come from the sale of refined gold; however, the end product at the Company’s gold operations is generally doré bars. Doré is an alloy consisting primarily of gold but also containing silver and other metals. Doré is sent to refiners to produce bullion that meets the required market standard of 99.95% gold. Under the terms of the Company’s refining

8

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

agreements, the doré bars are refined for a fee, and the Company’s share of the refined gold and the separately-recovered silver is credited to its bullion account. Gold from doré bars credited to its bullion account is typically sold to banks or refiners.

A portion of gold sold from Boddington and Kalgoorlie in Australia, Phoenix in Nevada and CC&V in Colorado is sold in the form of concentrate which includes copper and silver. The Company’s Sales also come from the sale of copper. Copper sales are generally in the form of concentrate, which is sold to smelters for further treatment and refining, and cathode. Copper sold from Boddington in Australia is sold in concentrate form and copper sold from Phoenix in Nevada is sold in either concentrate or cathode form.

Generally, if a metal expected to be mined represents more than 10 to 20% of the life of mine sales value of all the metal expected to be mined, co-product accounting should apply. When the Company applies co-product accounting at an operation, revenue is recognized for each co-product metal sold, and shared costs applicable to sales are allocated based on the relative sales values of the co-product metals produced. Generally, if metal expected to be mined is less than the 10 to 20% of the life of mine sales value, by-product accounting should apply. Revenues from by-product sales, which are immaterial, are credited to Costs applicable to sales as a by-product credit. Copper is produced as a co-product at Phoenix and Boddington. Copper and silver is produced as a by-product at certain of the Company’s other operations.

Gold Sales from Doré Production

The Company recognizes revenue for gold from doré production when it satisfies the performance obligation of transferring gold inventory to the customer, which generally occurs upon transfer of gold bullion credits as this is the point at which the customer obtains the ability to direct the use and obtain substantially all of the remaining benefits of ownership of the asset.

The Company generally recognizes the sale of gold bullion credits at the prevailing market price when gold bullion credits are delivered to the customer. The transaction price is determined based on the agreed upon market price and the number of ounces delivered. Payment is due upon delivery of gold bullion credits to the customer’s account.

Gold and Copper Sales from Concentrate Production

The Company recognizes revenue for gold and copper from concentrate production, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer. This generally occurs as material passes over the vessel's rail at the port of loading based on the date from the bill of lading, as the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the material and the customer has the risk of loss. Newmont has elected to account for shipping and handling costs for concentrate contracts as fulfillment activities and not as promised goods or services; therefore these activities are not considered separate performance obligations.

The Company generally sells gold and copper concentrate based on the future monthly average market price for a future month, dependent on the relevant contract, following the month in which the delivery to the customer takes place. The amount of revenue recognized for concentrates is initially recorded on a provisional basis based on the forward prices for the estimated month of settlement and the Company’s estimated metal quantities based on assay data. The Company’s sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward price at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through Sales each period prior to final settlement. The Company also adjusts estimated metal quantities used in computing provisional sales using new information and assay data from the smelter as it is received (if any).

A provisional payment is generally due upon delivery of the concentrate to the customer. Final payment is due upon final settlement of price and quantity with the customer.

9

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations and updated quantities between the date the sale is recorded and the date of final settlement. If a significant decline in metal prices occurs, or assay data results in a significant change in quantity between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the provisional payment received on the sale.

Copper Sales from Cathode Production

The Company recognizes revenue for copper from cathode production when it transfers control of copper cathode to the customer, which occurs when the material is picked up by the carrier. The Company generally sells copper cathode based on the weekly average market price for the week following production. The transaction price is determined based on this agreed upon price and the number of pounds delivered. Payment is due upon final settlement of price and quantity with the customer. 

Recently Adopted Accounting Pronouncements

Revenue Recognition

In May 2014, ASU No. 2014-09 was issued related to revenue from contracts with customers. This ASU was further amended in August 2015, March 2016, April 2016, May 2016, December 2016 and September 2017 by ASU No. 2015-14, No. 2016-08, No. 2016-10, No. 2016-12, No. 2016-20 and No. 2017-13, respectively. The new standard provides a five-step approach to be applied to all contracts with customers and also requires expanded disclosures about revenue recognition.

The company retrospectively adopted this standard as of January 1, 2018. As there were no contracts outstanding as of December 31, 2017, there was no cumulative effect adjustment required to be recognized at January 1, 2018. The comparative information has not been adjusted and continues to be reported under the accounting standards in effect for those periods.

The adoption of this standard primarily impacts the timing of revenue recognition on certain concentrate contracts based on the Company’s determination of when control is transferred. Revenue related to concentrate shipments is now generally recognized upon completion of loading the material for shipment to the customer and satisfaction of the Company’s significant performance obligation. Prior to the adoption of this standard, revenue was recognized for these contracts when the price was determinable, the concentrate had been loaded on a vessel or received by the customer, risk and title had been transferred and collection of the sales price was reasonably assured.

Investments

In January 2016, ASU No. 2016-01 was issued related to financial instruments. This ASU was further amended in February 2018 by ASU No. 2018-03. The new guidance requires entities to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income. This new guidance also updates certain disclosure requirements for these investments. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017, and upon adoption, an entity should apply the amendments with the cumulative effect of initially applying the guidance recognized at January 1, 2018. The Company adopted this standard as of January 1, 2018. Upon adoption, the Company reclassified $115 of unrealized holding gains and losses and deferred income taxes related to investments in marketable equity securities from Accumulated other comprehensive income (loss) to Retained earnings in the Consolidated Balance Sheets.

Statement of Cash Flows

In August 2016, ASU No. 2016-15 was issued related to the statement of cash flows. This new guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update is effective in fiscal years, including interim periods, beginning

10

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

after December 15, 2017. The Company adopted the guidance as of January 1, 2018. Upon adoption, the Company reclassified $6 for the six months ended June 30, 2017 of Acquisitions, net previously reported as a cash outflow from investing activities, to operating activities on the Consolidated Statements of Cash Flows related to contingent consideration payments.

Intra-Entity Transfers

In October 2016, ASU No. 2016-16 was issued related to the intra-entity transfers of assets other than inventory. This new guidance requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017. The Company adopted this guidance as of January 1, 2018, and determined it had no impact on the Consolidated Financial Statements or disclosures.

Restricted Cash

In November 2016, ASU No. 2016-18 was issued related to the inclusion of restricted cash in the statement of cash flows. This new guidance requires that a statement of cash flows present the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017, and early adoption is permitted. The Company retrospectively adopted this guidance as of December 31, 2017. Upon adoption, the Company included a reconciliation of Cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total shown in the Consolidated Statements of Cash Flows. Adoption of this guidance had no other impact on the Consolidated Financial Statements or disclosures.

Employee Benefits

In March 2017, ASU No. 2017-07 was issued related to the presentation of net periodic pension and postretirement cost. The new guidance requires the service cost component of net benefit costs to be classified similar to other compensation costs arising from services rendered by employees. Other components of net benefit costs are required to be classified separately from the service cost and outside income from operations. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance resulted in the recognition of other components of net benefit costs within Other income, net rather than Costs applicable to sales or General and administrative and is no longer included in costs that benefit the inventory or production process. Adoption of this guidance did not have a material impact on the Consolidated Financial Statements or disclosures.

Hedging

In August 2017, ASU No. 2017-12 was issued related to hedge accounting. The new guidance expands the ability to hedge nonfinancial risk components, eliminates the current requirement to separately measure and report hedge ineffectiveness, and requires the entire change in fair value of a hedging instrument to be presented in the same income statement line as the hedged item, when reclassified from Accumulated other comprehensive income (loss). The guidance also eases certain hedge effectiveness documentation and assessment requirements. This update is effective in fiscal years, including interim periods, beginning after December 15, 2018, and early adoption is permitted. The Company adopted this guidance as of January 1, 2018, and there was no material impact on the Consolidated Financial Statements or disclosures as a result of adoption.

Recently Issued Accounting Pronouncements

Leases

In February 2016, ASU No. 2016-02 was issued related to leases, which was further amended in September 2017 by ASU No. 2017-13, in January 2018 by ASU No. 2018-01 and in July 2018 by ASU No. 2018-10. The new guidance modifies the classification

11

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

criteria and requires lessees to recognize right-of-use assets and lease liabilities arising from most leases on the balance sheet with additional disclosures about leasing arrangements. This update is effective in fiscal years, including interim periods, beginning after December 15, 2018, and early adoption is permitted. The Company anticipates adopting the new guidance as of January 1, 2019.

The Company has begun its assessment of the new guidance and the impact it will have on the Consolidated Financial Statements and disclosures, and expects to complete its analysis in 2018. To date, the Company has formed a cross-functional implementation team; commenced a completeness assessment over the lease population; begun the evaluation of the various practical expedients and policy elections that will be adopted; started to establish new policies, procedures and internal controls related to the new standard; and commenced the review of contracts that are expected to be outstanding as of the adoption date.

Management is still completing its assessment of the impacts; however, based on the procedures performed, management has identified certain service contracts that contain embedded leases under the revised guidance. The Company expects that the adoption of the new standard will gross up the Consolidated Balance Sheets with the recognition of right-of-use assets and lease liabilities related to operating leases. The Company does not expect there will be a material impact to the Consolidated Statements of Operations and the Consolidated Statements of Cash Flows. The Company is in the process of assessing the required disclosures of the new standard, and expects to provide additional qualitative and quantitative disclosures related to leasing arrangements upon adoption.

Other Comprehensive Income Reclassifications Related to Tax Reform

In February 2018, ASU 2018-02 was issued allowing companies the option to reclassify to retained earnings the tax effects related to items in Accumulated other comprehensive income (loss) as a result of the Tax Cuts and Jobs Act (the “Act”) that was enacted on December 22, 2017. This update is effective in fiscal years, including interim periods, beginning after December 15, 2018, and early adoption is permitted. This guidance should be applied either in the period of adoption or retrospectively to each period in which the effects of the change in the U.S. federal income tax rate in the Act is recognized. The Company is still completing its assessment of the impacts and anticipated adoption date of this guidance.

NOTE 3     SEGMENT INFORMATION

The Company has organized its operations into four geographic regions. The geographic regions include North America, South America, Australia and Africa and represent the Company’s operating segments. The results of these operating segments are reviewed by the Company’s chief operating decision maker to make decisions about resources to be allocated to the segments and assess their performance. As a result, these operating segments represent the Company’s reportable segments. Notwithstanding this structure, the Company internally reports information on a mine-by-mine basis for each mining operation and has chosen to disclose this information on the following tables. Income (loss) before income and mining tax and other items from reportable segments does not reflect general corporate expenses, interest (except project-specific interest) or income and mining taxes. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. Newmont’s business activities that are not considered operating segments are included in Corporate and Other. Although they are not required to be included in this footnote, they are provided for reconciliation purposes.

12

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

Unless otherwise noted, the Company presents only the reportable segments of its continuing operations in the tables below. The financial information relating to the Company’s segments is as follows:

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Three Months Ended June 30, 2018
Carlin	$	244	$	178	$	43	$	8	$	13	$	42
Phoenix:
Gold		63		44		10
Copper		21		14		4
Total Phoenix		84		58		14		1		10		11
Twin Creeks		114		66		16		3		33		22
Long Canyon		56		18		19		6		11		2
CC&V		88		42		14		1		25		9
Other North America		—		—		1		9		(9)		2
North America		586		362		107		28		83		88
Yanacocha		147		92		22		12		(3)		24
Merian		132		61		20		6		46		27
Other South America		—		—		4		8		(13)		1
South America		279		153		46		26		30		52
Boddington:
Gold		220		130		24
Copper		60		32		6
Total Boddington		280		162		30		—		92		10
Tanami		134		74		16		4		43		26
Kalgoorlie		122		62		6		3		53		5
Other Australia		—		—		2		2		(2)		—
Australia		536		298		54		9		186		41
Ahafo		132		90		29		4		6		64
Akyem		129		62		41		4		21		11
Other Africa		—		—		—		1		(3)		—
Africa		261		152		70		9		24		75
Corporate and Other		—		—		2		18		(18)		2
Consolidated	$	1,662	$	965	$	279	$	90	$	305	$	258

⁽¹⁾ Consolidated capital expenditures on a cash basis were $258.

13

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Three Months Ended June 30, 2017
Carlin	$	279	$	170	$	46	$	5	$	55	$	48
Phoenix:
Gold		67		46		12
Copper		24		16		4
Total Phoenix		91		62		16		3		9		4
Twin Creeks		156		61		17		2		72		9
Long Canyon		57		13		18		5		21		3
CC&V		166		74		33		3		53		4
Other North America		—		—		1		4		(5)		1
North America		749		380		131		22		205		69
Yanacocha		149		134		34		8		(59)		9
Merian		150		64		26		4		54		22
Other South America		—		—		3		9		(16)		—
South America		299		198		63		21		(21)		31
Boddington:
Gold		262		147		31
Copper		52		28		6
Total Boddington		314		175		37		1		94		14
Tanami		123		58		15		6		55		28
Kalgoorlie		113		55		5		1		52		4
Other Australia		—		—		1		2		(5)		2
Australia		550		288		58		10		196		48
Ahafo		112		60		15		10		25		36
Akyem		165		73		40		5		45		6
Other Africa		—		—		—		1		(4)		—
Africa		277		133		55		16		66		42
Corporate and Other		—		—		3		14		(111)		2
Consolidated	$	1,875	$	999	$	310	$	83	$	335	$	192

⁽¹⁾ Includes an increase in accrued capital expenditures of $9; consolidated capital expenditures on a cash basis were $183.

14

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Six Months Ended June 30, 2018
Carlin	$	548	$	377	$	95	$	15	$	55	$	72
Phoenix:
Gold		163		106		25
Copper		47		30		8
Total Phoenix		210		136		33		2		36		18
Twin Creeks		224		130		31		5		64		40
Long Canyon		115		34		38		12		30		5
CC&V		171		81		29		3		51		18
Other North America		—		—		1		13		(15)		4
North America		1,268		758		227		50		221		157
Yanacocha		290		206		52		22		(31)		40
Merian		298		128		42		9		120		49
Other South America		—		—		7		15		(29)		1
South America		588		334		101		46		60		90
Boddington:
Gold		430		258		47
Copper		112		63		12
Total Boddington		542		321		59		—		166		26
Tanami		301		150		35		10		110		47
Kalgoorlie		239		122		12		6		101		13
Other Australia		—		—		3		4		(4)		1
Australia		1,082		593		109		20		373		87
Ahafo		270		180		55		8		22		126
Akyem		271		129		83		7		45		21
Other Africa		—		—		—		2		(5)		—
Africa		541		309		138		17		62		147
Corporate and Other		—		—		5		31		(128)		6
Consolidated	$	3,479	$	1,994	$	580	$	164	$	588	$	487

⁽¹⁾ Includes a decrease in accrued capital expenditures of $2; consolidated capital expenditures on a cash basis were $489.

15

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Six Months Ended June 30, 2017
Carlin	$	543	$	378	$	99	$	8	$	54	$	96
Phoenix:
Gold		121		90		23
Copper		50		34		9
Total Phoenix		171		124		32		4		7		10
Twin Creeks		258		111		31		4		107		17
Long Canyon		96		25		31		10		30		7
CC&V		322		149		65		7		99		8
Other North America		—		—		1		7		(10)		3
North America		1,390		787		259		40		287		141
Yanacocha		328		253		70		12		(50)		20
Merian		283		112		47		8		114		38
Other South America		—		—		7		19		(35)		—
South America		611		365		124		39		29		58
Boddington:
Gold		490		269		57
Copper		97		49		10
Total Boddington		587		318		67		1		180		29
Tanami		215		108		31		9		75		52
Kalgoorlie		217		107		9		3		95		8
Other Australia		—		—		3		3		(20)		3
Australia		1,019		533		110		16		330		92
Ahafo		226		136		38		16		34		53
Akyem		319		135		74		6		100		12
Other Africa		—		—		—		2		(5)		—
Africa		545		271		112		24		129		65
Corporate and Other		—		—		5		26		(246)		4
Consolidated	$	3,565	$	1,956	$	610	$	145	$	529	$	360

⁽¹⁾ Includes a decrease in accrued capital expenditures of $3; consolidated capital expenditures on a cash basis were $363.

16

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 4     SALES

The following table presents the Company’s Sales by mining operation, product and inventory type:

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Three Months Ended June 30, 2018
Carlin	$	244	$	—	$	—	$	—	$	244
Phoenix		30		33		9		12		84
Twin Creeks		114		—		—		—		114
Long Canyon		56		—		—		—		56
CC&V		88		—		—		—		88
North America		532		33		9		12		586
Yanacocha		147		—		—		—		147
Merian		132		—		—		—		132
South America		279		—		—		—		279
Boddington		64		156		60		—		280
Tanami		134		—		—		—		134
Kalgoorlie		122		—		—		—		122
Australia		320		156		60		—		536
Ahafo		132		—		—		—		132
Akyem		129		—		—		—		129
Africa		261		—		—		—		261
Consolidated	$	1,392	$	189	$	69	$	12	$	1,662

17

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Three Months Ended June 30, 2017
Carlin	$	279	$	—	$	—	$	—	$	279
Phoenix		30		37		12		12		91
Twin Creeks		156		—		—		—		156
Long Canyon		57		—		—		—		57
CC&V		161		5		—		—		166
North America		683		42		12		12		749
Yanacocha		149		—		—		—		149
Merian		150		—		—		—		150
South America		299		—		—		—		299
Boddington		64		198		52		—		314
Tanami		123		—		—		—		123
Kalgoorlie		113		—		—		—		113
Australia		300		198		52		—		550
Ahafo		112		—		—		—		112
Akyem		165		—		—		—		165
Africa		277		—		—		—		277
Consolidated	$	1,559	$	240	$	64	$	12	$	1,875

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Six Months Ended June 30, 2018
Carlin	$	548	$	—	$	—	$	—	$	548
Phoenix		71		92		21		26		210
Twin Creeks		224		—		—		—		224
Long Canyon		115		—		—		—		115
CC&V		171		—		—		—		171
North America		1,129		92		21		26		1,268
Yanacocha		290		—		—		—		290
Merian		298		—		—		—		298
South America		588		—		—		—		588
Boddington		123		307		112		—		542
Tanami		301		—		—		—		301
Kalgoorlie		239		—		—		—		239
Australia		663		307		112		—		1,082
Ahafo		270		—		—		—		270
Akyem		271		—		—		—		271
Africa		541		—		—		—		541
Consolidated	$	2,921	$	399	$	133	$	26	$	3,479

18

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Six Months Ended June 30, 2017
Carlin	$	543	$	—	$	—	$	—	$	543
Phoenix		54		67		27		23		171
Twin Creeks		258		—		—		—		258
Long Canyon		96		—		—		—		96
CC&V		311		11		—		—		322
North America		1,262		78		27		23		1,390
Yanacocha		328		—		—		—		328
Merian		283		—		—		—		283
South America		611		—		—		—		611
Boddington		123		367		97		—		587
Tanami		215		—		—		—		215
Kalgoorlie		217		—		—		—		217
Australia		555		367		97		—		1,019
Ahafo		226		—		—		—		226
Akyem		319		—		—		—		319
Africa		545		—		—		—		545
Consolidated	$	2,973	$	445	$	124	$	23	$	3,565

The following table details the receivables included within Trade receivables:

	At June 30,		At December 31,
	2018		2017
Receivables from Sales:
Gold sales from doré	$	36	$	—
Gold and copper sales from concentrate production		96		117
Copper sales from cathode production		1		7
Total receivables from Sales	$	133	$	124

The impact to Sales from revenue initially recognized in previous periods due to the changes in the final pricing and changes in quantities resulting from assays is an increase (decrease) of $(1) and $(1), respectively, for the three months ended June 30, 2018 and an increase (decrease) of $1 and $(6), respectively, for the three months ended June 30, 2017.

The impact to Sales from revenue initially recognized in previous periods due to the changes in the final pricing and changes in quantities resulting from assays is an increase (decrease) of $(3) and $1, respectively, for the six months ended June 30, 2018 and an increase (decrease) of $11 and $2, respectively, for the six months ended June 30, 2017.

19

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

The following tables summarize the impacts of adopting this standard on the Company’s Condensed Consolidated Financial Statements for the three and six months ended June 30, 2018:

	Three Months Ended June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Statement of Operations	As Reported		Change		of ASC 606
Sales	$	1,662	$	89	$	1,751
Costs applicable to sales	$	965	$	54	$	1,019
Depreciation and amortization	$	279	$	12	$	291
Income (loss) before income and mining tax and other items	$	305	$	23	$	328
Income and mining tax benefit (expense)	$	(18)	$	(6)	$	(24)
Net income (loss)	$	298	$	17	$	315
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	274	$	17	$	291
Discontinued operations		18		—		18
	$	292	$	17	$	309
Net income (loss) per common share
Basic:
Continuing operations	$	0.52	$	0.03	$	0.55
Discontinued operations		0.03		—		0.03
	$	0.55	$	0.03	$	0.58
Diluted:
Continuing operations	$	0.51	$	0.03	$	0.54
Discontinued operations		0.03		—		0.03
	$	0.54	$	0.03	$	0.57

20

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	Six Months Ended June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Statement of Operations	As Reported		Change		of ASC 606
Sales	$	3,479	$	(16)	$	3,463
Costs applicable to sales	$	1,994	$	(8)	$	1,986
Depreciation and amortization	$	580	$	(2)	$	578
Income (loss) before income and mining tax and other items	$	588	$	(6)	$	582
Income and mining tax benefit (expense)	$	(123)	$	2	$	(121)
Net income (loss)	$	489	$	(4)	$	485
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	444	$	(4)	$	440
Discontinued operations		40		—		40
	$	484	$	(4)	$	480
Net income (loss) per common share
Basic:
Continuing operations	$	0.84	$	(0.01)	$	0.83
Discontinued operations		0.07		—		0.07
	$	0.91	$	(0.01)	$	0.90
Diluted:
Continuing operations	$	0.83	$	(0.01)	$	0.82
Discontinued operations		0.07		—		0.07
	$	0.90	$	(0.01)	$	0.89

	Six Months Ended June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Statement of  Cash Flows	As Reported		Change		of ASC 606
Operating activities:
Net income (loss)	$	489	$	(4)	$	485
Adjustments:
Depreciation and amortization	$	580	$	(2)	$	578
Net change in operating assets and liabilities	$	(510)	$	6	$	(504)
Net cash provided by (used in) operating activities of continuing operations	$	667	$	—	$	667

21

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	At June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Balance Sheet	As Reported		Change		of ASC 606
Trade receivables	$	133	$	(16)	$	117
Inventories	$	697	$	10	$	707
Total assets	$	20,655	$	(6)	$	20,649
Income and mining taxes payable	$	71	$	(2)	$	69
Total liabilities	$	8,822	$	(2)	$	8,820
Retained earnings	$	592	$	(4)	$	588
Newmont stockholders' equity	$	10,813	$	(4)	$	10,809
Total equity	$	11,785	$	(4)	$	11,781
Total liabilities and equity	$	20,655	$	(6)	$	20,649

NOTE 5     RECLAMATION AND REMEDIATION

The Company’s mining and exploration activities are subject to various domestic and international laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation and remediation costs are based principally on current legal and regulatory requirements.

The Company’s Reclamation and remediation expense consisted of:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Reclamation adjustments	$	—	$	15	$	—	$	15
Reclamation accretion		25		25		49		48
Total reclamation expense		25		40		49		63
Remediation adjustments		11		2	$	14	$	7
Remediation accretion		1		1		2		2
Total remediation expense		12		3	$	16	$	9
	$	37	$	43	$	65	$	72

Reclamation and remediation adjustments. In June 2018, the Company updated assumptions at a historic mine site for future water management costs of $8. In June 2017,  the Company updated reclamation liability assumptions at Yanacocha regarding water treatment costs on non-operating leach pads of $15. 

22

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

The following are reconciliations of Reclamation and remediationliabilities: 

	2018		2017
Reclamation balance at January 1,	$	2,144	$	1,913
Additions, changes in estimates and other		—		15
Payments, net		(13)		(11)
Accretion expense		49		48
Reclamation balance at June 30,	$	2,180	$	1,965

	2018		2017
Remediation balance at January 1,	$	304	$	312
Additions, changes in estimates and other		8		2
Payments, net		(20)		(21)
Accretion expense		2		2
Remediation balance at June 30,	$	294	$	295

The current portion of reclamation liabilities was $60 at June 30, 2018 and December 31, 2017, and was included in Other current liabilities. The current portion of remediation liabilities was $45 and $43 at June 30, 2018 and December 31, 2017, respectively, and was included in Other current liabilities.  

At June 30, 2018 and December 31, 2017, $2,180 and $2,144, respectively, were accrued for reclamation obligations relating to operating properties. In addition, the Company is involved in several matters concerning environmental remediation obligations associated with former, primarily historic, mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved.

At June 30, 2018 and December 31, 2017, $294 and $304, respectively, were accrued for such environmental remediation obligations. Depending upon the ultimate resolution of these matters, the Company believes that it is reasonably possible that the liability for these matters could be as much as 43% greater or 0% lower than the amount accrued at June 30, 2018. These amounts are included in Other current liabilities and Reclamation and remediation liabilities. The amounts accrued are reviewed periodically based upon facts and circumstances available at the time. Changes in estimates are recorded in Reclamation and remediation in the period estimates are revised.

Non-current restricted cash held for purposes of settling reclamation and remediation obligations was $34 and $38 at June 30, 2018 and December 31, 2017, respectively. Of the amounts at June 30, 2018, $25 was related to the Ahafo and Akyem mines in Ghana, Africa, $8 was related to the Con mine in Yellowknife, Northwest Territory, Canada, and $1 was related to the San Jose Reservoir in Yanacocha, Peru. Of the amount at December 31, 2017, $25 was related to the Ahafo and Akyem mines, $6 was related to the Con mine, $6 was related to the San Jose Reservoir, and $1 was related to the Midnite mine in Washington state.

Included in Other non-current assets at June 30, 2018 and December 31, 2017, was $58 and $64, respectively, of non-current restricted investments, which are legally pledged for purposes of settling reclamation and remediation obligations related to the San Jose Reservoir in Yanacocha, Midnight mine site and for various locations in North America.

Refer to Note 25 for further discussion of reclamation and remediation matters.

23

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 6     OTHER EXPENSE, NET

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Restructuring and other	$	9	$	1	$	15	$	8
Acquisition cost adjustments		—		3		—		5
Impairment of long-lived assets		—		—		—		3
Other		4		10		9		15
	$	13	$	14	$	24	$	31

Restructuring and other. Restructuring and other represents certain costs associated with severance, legal and other settlements for all periods presented.

Acquisition cost adjustments. Acquisition cost adjustments represent net adjustments during 2017 to the contingent consideration and related liabilities associated with the acquisition of the final 33.33% interest in Boddington in June 2009.

Impairment of long-lived assets. Impairment of long-lived assets primarily relates to non-cash write-downs of obsolete assets at Yanacocha and Australia in 2017.

NOTE 7     OTHER INCOME, NET

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Gain (loss) on asset and investment sales, net	$	100	$	14	$	99	$	16
Interest		13		6		24		10
Foreign currency exchange, net		14		(4)		21		(21)
Change in fair value of marketable equity securities		5		—		5		—
Tanami insurance proceeds		—		13		—		13
Other		7		2		11		4
	$	139	$	31	$	160	$	22

Gain (loss) on asset and investment sales, net. In June 2018, the Company exchanged certain royalty interests carried at cost for cash consideration, an equity ownership in Maverix Metals Inc. ("Maverix") and warrants in Maverix, resulting in a pre-tax gain of  $100.  For additional information regarding this transaction, see Note 16. 

In June 2017, the Company exchanged its interest in the Fort á la Corne joint venture for equity ownership in Shore Gold Inc., resulting in a pre-tax gain of $15.

Foreign currency exchange, net. Although the majority of the Company’s balances are denominated in U.S. dollars, foreign currency exchange gains (losses) are recognized on balances to be satisfied in local currencies. These balances primarily relate to the timing of payments for employee-related benefits and other current liabilities in Australia, Peru and Suriname.

Tanami insurance proceeds.In June 2017, the Company recorded business interruption insurance proceeds of $13 associated with the heavy rainfall at Tanami during the first quarter of 2017.

24

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 8     INCOME AND MINING TAXES

A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2017				2018				2017
Income (loss) before income and mining tax and other items			$	305			$	335			$	588			$	529
U.S. Federal statutory tax rate	21	%	$	64	35	%	$	117	21	%	$	123	35	%	$	185
Reconciling items:
Percentage depletion	(3)			(8)	(13)			(42)	(4)			(25)	(14)			(74)
Change in valuation allowance on deferred tax assets	(5)			(15)	21			72	1			3	26			139
Adjustment to provisional expense related to the Tax Cuts and Job Act	(15)			(45)	—			—	(8)			(45)	—			—
Mining and other taxes	3			9	5			16	5			30	7			35
Foreign rate differential	5			15	—			—	8			46	—			—
Other	—			(2)	2			3	(2)			(9)	(2)			(8)
Income and mining tax expense	6	%	$	18	50	%	$	166	21	%	$	123	52	%	$	277

During the three months ended June 30, 2018, the Company released valuation allowance on capital losses of ($15) as a result of the exchange of certain royalty interests for cash consideration and shares and warrants in Maverix.

During the second quarter, the Company completed a fixed asset study regarding the deductibility of certain mineral interests related to Boddington. Based on the work performed to date, the Company determined it will be able to realize certain Australian deferred tax assets and recorded a tax benefit of $45 during the quarter. This adjustment was treated as a change to the provisional amount recorded in the fourth quarter of 2017 for the impacts of US tax reform as it relates to balances impacted by the tax restructuring completed at year-end. The Company expects to record additional updates to the provisional amounts for the impacts of US tax reform during the last half of 2018 following completion of the 2017 income tax returns and within the 12 month time frame provided under the SEC’s Staff Accounting Bulletin 118.  

NOTE 9     NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS

The details of Net income (loss) from discontinued operations are set forth below:

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Holt royalty obligation	$	17	$	(15)	$	36	$	(38)
Batu Hijau contingent consideration (1)		1		—		4		—
Net income (loss) from discontinued operations	$	18	$	(15)	$	40	$	(38)

(1) See Note 15 for details on the Batu Hijau contingent consideration.

The Holt Royalty Obligation

At June 30, 2018 and December 31, 2017, the estimated fair value of the Holt royalty obligation was $193 and $243, respectively. Changes to the estimated fair value resulting from periodic revaluations are recorded to Net income (loss) from discontinued operations, net of tax. During the three and six months ended June 30, 2018, the Company recorded a gain (loss) of $17 and $36, net of a tax benefit (expense) of $(5) and $(9), respectively, related to the Holt royalty obligation. During the three and six

25

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

months ended June 30, 2017, the Company recorded a gain (loss) of $(15) and $(38), net of tax benefit (expense) of $8 and $21, respectively, related to the Holt royalty obligation.

During the six months ended June 30, 2018 and 2017, the Company paid $5 and $6, respectively, related to the Holt royalty obligation. Refer to Note 14 for additional information on the Holt royalty obligation.

NOTE 10     NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Merian	$	11	$	13	$	28	$	26
Yanacocha		(5)		(37)		(23)		(38)
Other		—		—		—		(1)
	$	6	$	(24)	$	5	$	(13)

Newmont has a 75.0% economic interest in Suriname Gold Project C.V. (“Merian”), with the remaining interests held by Staatsolie Maatschappij Suriname N.V. (“Staatsolie”), a company wholly owned by the Republic of Suriname. Newmont consolidates Merian, through its wholly-owned subsidiary, Newmont Suriname LLC., in its Condensed Consolidated Financial Statements as the primary beneficiary in the variable interest entity.

In December 2017, Minera Yanacocha S.R.L. (“Yanacocha”) repurchased a 5% ownership interest from International Finance Corporation, which resulted in Newmont’s ownership in Yanacocha increasing from 51.35% to 54.05%, with the remaining interests held by Buenaventura (which increased from 43.65% to 45.95%). In June 2018, Yanacocha sold a 5% ownership interest to Summit Global Management II VB, a subsidiary of Sumitomo Corporation (“Sumitomo”), in exchange for $48 in cash, which resulted in Newmont’s and Buenaventura’s ownership returning to 51.35% and 43.65%, respectively.

Under the terms of the transaction, Sumitomo has the option to require Yanacocha to repurchase the interest for $48 if the Yanacocha Sulfides project does not adequately progress by June 2022 or if the project is approved with an incremental rate of return below a contractually agreed upon rate.  Consequently, Sumitomo’s interest has been classified outside of permanent equity as Contingently redeemable noncontrolling interest on the Condensed Consolidated Balance Sheets. Under the terms of the sales agreement, the cash paid by Sumitomo at closing has been placed in escrow for repayment in the event the option is exercised. As a result of this transaction, the Company concluded that Newmont will continue to consolidate Yanacocha in its Condensed Consolidated Financial Statements under the voting interest model.

26

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

The following summarizes the assets and liabilities of Merian, (including noncontrolling interests):

	At June 30,  2018		At December 31, 2017
Current assets:
Cash and cash equivalents	$	44	$	27
Trade receivables		23		—
Inventories		81		79
Stockpiles and ore on leach pads		31		21
Other current assets (1)		4		6
		183		133
Non-current assets:
Property, plant and mine development, net		777		769
Other non-current assets (2)		3		8
Total assets	$	963	$	910
Current liabilities:
Accounts payable	$	27	$	22
Other current liabilities (3)		26		28
		53		50
Non-current liabilities:
Reclamation and remediation liabilities		18		18
Other non-current liabilities (4)		1		1
Total liabilities	$	72	$	69

⁽¹⁾ Other current assets include other accounts receivables, prepaid assets and other current assets.

⁽²⁾ Other non-current assets include intangibles, stockpiles and ore on leach pads.

⁽³⁾ Other current liabilities include employee-related benefits and other current liabilities.

⁽⁴⁾ Other non-current liabilities include employee-related benefits.

NOTE 11    NET INCOME (LOSS) PER COMMON SHARE

Basic net income (loss) per common share is computed by dividing income available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed similarly, except that weighted average common shares is increased to reflect all dilutive instruments, including employee stock

27

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

awards and convertible debt instruments. The dilutive effects of Newmont’s dilutive securities are calculated using the treasury stock method and only those instruments that result in a reduction in net income per share are included in the calculation.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	274	$	190	$	444	$	260
Discontinued operations		18		(15)		40		(38)
	$	292	$	175	$	484	$	222
Weighted average common shares (millions):
Basic		533		533		534		533
Effect of employee stock-based awards		2		2		1		1
Diluted		535		535		535		534
Net income (loss) per common share attributable to Newmont stockholders:
Basic:
Continuing operations	$	0.52	$	0.36	$	0.84	$	0.49
Discontinued operations		0.03		(0.03)		0.07		(0.07)
	$	0.55	$	0.33	$	0.91	$	0.42
Diluted:
Continuing operations	$	0.51	$	0.36	$	0.83	$	0.49
Discontinued operations		0.03		(0.03)		0.07		(0.07)
	$	0.54	$	0.33	$	0.90	$	0.42

During the three and six months ended June 30, 2018, the Company repurchased and retired approximately 0.2 million and 1.9 million shares of its common stock for $6 and $70, respectively. Additionally, during the three and six months ended June 30, 2018, the Company withheld a nominal amount and 1.0 million shares for payments of employee withholding taxes related to the vesting of stock awards.

When treasury shares are retired, the Company's policy is to allocate the excess of the repurchase price over the par value of shares acquired to both Retained earnings and Additional paid-in capital. The portion allocated to Additional paid-in capital is calculated on a pro-rata basis of the shares to be retired and the total shares issued and outstanding as of the date of the retirement.

NOTE 12    EMPLOYEE PENSION AND OTHER BENEFIT PLANS

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Pension benefit costs, net (1):
Service cost	$	8	$	8	$	16	$	15
Interest cost		11		11		21		22
Expected return on plan assets		(17)		(16)		(34)		(31)
Amortization, net		8		7		16		14
Settlements		—		—		—		4
	$	10	$	10	$	19	$	24

28

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Other benefit costs (credits), net (1):
Service cost	$	1	$	1	$	1	$	1
Interest cost	$	1	$	1	$	2	$	2
Amortization, net		(2)		(3)		(4)		(4)
	$	—	$	(1)	$	(1)	$	(1)

⁽¹⁾ Service costs are included in Costs applicable to sales or General and administrative and the other components of benefit costs and settlements are included in Other income, net.

NOTE 13    STOCK-BASED COMPENSATION

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Stock-based compensation:
Performance leveraged stock units	$	7	$	9	$	16	$	17
Restricted stock units		12		10		22		17
Strategic stock units		—		—		—		1
	$	19	$	19	$	38	$	35

NOTE 14    FAIR VALUE ACCOUNTING

Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

Level 1Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2Quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, quoted prices or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability and model-based valuation techniques (e.g. the Black-Scholes model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

Level 3Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

29

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	Fair Value at June 30, 2018
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	3,127	$	3,127	$	—	$	—
Restricted cash		83		83		—		—
Trade receivable from provisional gold and copper concentrate sales, net		86		—		86		—
Diesel forward derivative contracts		7		—		7		—
Marketable equity securities		178		166		12		—
Restricted marketable debt securities		51		22		29		—
Restricted other assets		7		7		—		—
Batu Hijau contingent consideration		27		—		—		27
	$	3,566	$	3,405	$	134	$	27
Liabilities:
Debt (1)	$	4,391	$	—	$	4,391	$	—
Holt royalty obligation		193		—		—		193
	$	4,584	$	—	$	4,391	$	193

	Fair Value at December 31, 2017
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	3,259	$	3,259	$	—	$	—
Restricted cash		39		39		—		—
Trade receivable from provisional gold and copper concentrate sales, net		111		—		111		—
Diesel forward derivative contracts		6		—		6		—
Marketable equity securities		165		165		—		—
Restricted marketable debt securities		55		17		38		—
Restricted other assets		9		9		—		—
Batu Hijau contingent consideration		23		—		—		23
	$	3,667	$	3,489	$	155	$	23
Liabilities:
Debt (1)	$	4,671	$	—	$	4,671	$	—
Foreign exchange forward derivative contracts		1		—		1		—
Holt royalty obligation		243		—		—		243
	$	4,915	$	—	$	4,672	$	243

⁽¹⁾ Debt, exclusive of capital leases, is carried at amortized cost. The outstanding carrying value was $4,042 and $4,040 at June 30, 2018 and December 31, 2017, respectively. The fair value measurement of debt was based on an independent third party pricing source.

The fair values of the derivative instruments in the table above are presented on a net basis. The gross amounts related to the fair value of the derivative instruments above are included in Note 15. All other fair value disclosures in the above table are presented on a gross basis.

The Company’s cash and cash equivalents and restricted cash and restricted cash equivalents are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash and cash equivalent instruments and restricted cash are valued based on quoted market prices in active markets and are primarily money market securities and U.S. Treasury securities.

30

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

The Company’s net trade receivables from provisional gold and copper concentrate sales, which contain an embedded derivative and are subject to final pricing, are valued using quoted market prices based on forward curves for the particular metal. As the contracts themselves are not traded on an exchange, these receivables are classified within Level 2 of the fair value hierarchy.

The Company’s derivative instruments are valued using pricing models, and the Company generally uses similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices, forward curves, measures of volatility, and correlations of such inputs. The Company’s derivatives trade in liquid markets, and as such, model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.

The Company’s marketable equity securities with readily determinable fair values are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the marketable equity securities are calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company. The Company’s marketable equity securities without readily determinable fair values are primarily comprised of warrants in publicly traded companies and are valued using a Black-Scholes model using quoted market prices in active markets of the underlying securities. As the contracts themselves are not traded on the exchange, these equity securities are classified within Level 2 of the fair value hierarchy.

The Company’s restricted marketable debt securities are primarily U.S. government issued bonds and international bonds. The Company’s South American debt securities are classified within Level 1 of the fair value hierarchy, using published market prices of actively traded securities. The Company’s North American debt securities are classified within Level 2 of the fair value hierarchy as they are valued using pricing models which are based on prices of similar, actively traded securities.

The Company’s restricted other assets primarily consist of bank issued certificate of deposits that have maturities over 90 days and marketable equity securities. Both are classified within Level 1 of the fair value hierarchy as their fair values are based on quoted prices available in active markets.

The estimated value of the Batu Hijau contingent consideration was determined using (i) a discounted cash flow model, (ii) a Monte Carlo valuation model to simulate future copper prices using the Company’s long-term copper price, and (iii) estimated production and/or development dates for Batu Hijau Phase 7 and the Elang projects in Indonesia. The contingent consideration is classified within Level 3 of the fair value hierarchy.

The estimated fair value of the Holt royalty obligation was determined using (i) a discounted cash flow model, (ii) a Monte Carlo valuation model to simulate future gold prices using the Company’s long-term gold price, (iii) various gold production scenarios from reserve and resource information and (iv) a weighted average discount rate. The royalty obligation is classified within Level 3 of the fair value hierarchy.

31

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

The following tables set forth a summary of the quantitative and qualitative information related to the unobservable inputs used in the calculation of the Company’s Level 3 financial assets and liabilities at June 30, 2018 and December 31, 2017:

	At June 30,				Range/Weighted
Description	2018		Valuation technique	Unobservable input	average
Batu Hijau contingent consideration	$	27	Monte Carlo	Discount rate		17.50	%
				Short-term copper price	$	3.12
				Long-term copper price	$	3.00
Holt royalty obligation	$	193	Monte Carlo	Discount rate		3.99	%
				Short-term gold price	$	1,306
				Long-term gold price	$	1,300
				Gold production scenarios (in 000's of ounces)		334 - 1,576

	At December 31,				Range/Weighted
Description	2017		Valuation technique	Unobservable input	average
Batu Hijau contingent consideration	$	23	Monte Carlo	Discount rate		17.50	%
				Short-term copper price	$	3.09
				Long-term copper price	$	3.00
Holt royalty obligation	$	243	Monte Carlo	Discount rate		3.32	%
				Short-term gold price	$	1,275
				Long-term gold price	$	1,300
				Gold production scenarios (in 000's of ounces)		402 - 1,779

The following tables set forth a summary of changes in the fair value of the Company’s Level 3 financial assets and liabilities:

	Batu Hijau				Holt
	Contingent		Total		Royalty		Total
	Consideration (1)		Assets		Obligation (1)		Liabilities
Fair value at December 31, 2017	$	23	$	23	$	243	$	243
Settlements		—		—		(5)		(5)
Revaluation		4		4		(45)		(45)
Fair value at June 30, 2018	$	27	$	27	$	193	$	193

	Asset
	Backed		Batu Hijau				Holt
	Commercial		Contingent		Total		Royalty		Total
	Paper (2)		Consideration (1)		Assets		Obligation (1)		Liabilities
Fair value at December 31, 2016	$	18	$	13	$	31	$	187	$	187
Settlements		(18)		—		(18)		(6)		(6)
Revaluation		—		—		—		59		59
Fair value at June 30, 2017	$	—	$	13	$	13	$	240	$	240

⁽¹⁾ The gain (loss) recognized is included in Net income (loss) from discontinued operations.

⁽²⁾ The gain (loss) recognized is included in Other income, net.

.

NOTE 15    DERIVATIVE INSTRUMENTS

The Company’s strategy is to provide shareholders with leverage to changes in gold and copper prices by selling its production at spot market prices. Consequently, the Company does not hedge its gold and copper sales. The Company has and will continue to manage certain risks associated with commodity input costs, interest rates and foreign currencies using the derivative market.

32

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

Cash Flow Hedges

The Company uses hedge programs to mitigate the variability of its operating costs primarily related to diesel price fluctuations. Prior to adoption of ASU No. 2017-12, Newmont’s hedge portfolio consisted of Nevada diesel swaps and Australian dollar foreign currency forwards. Subsequent to the adoption of this ASU, the Company initiated new diesel hedge programs for all of its Nevada sites in North America, Merian in South America and Boddington, Tanami and KCGM in Australia.

The following diesel contracts were transacted for risk management purposes and qualify as cash flow hedges. The unrealized changes in market value have been recorded in Accumulated other comprehensive income (loss) and are reclassified to income during the period in which the hedged transaction affects earnings.

The Company had the following diesel derivative contracts outstanding at June 30, 2018:

	Expected Maturity Date
					Total/
	2018	2019	2020	2021	Average
Diesel Fixed Forward Contracts:
North America
Diesel gallons (millions)	7	3	3	1	14
Average rate ($/gallon)	1.68	1.78	1.97	2.04	1.79
South America
Diesel gallons (millions)	—	—	2	—	2
Average rate ($/gallon)	—	—	1.88	1.99	1.89
Australia
Diesel barrels (thousands)	—	12	73	17	102
Average rate ($/barrel)	—	85.93	77.06	79.69	78.54

The hedging instruments consist of a series of financially settled fixed forward contracts, which run through the second quarter of 2021 in North America, South America, and Australia.

Derivative Instrument Fair Values

The Company had the following derivative instruments designated as hedges at June 30, 2018 and December 31, 2017:

	Fair Values of Derivative Instruments
	At June 30, 2018
	Other		Other		Other		Other
	Current		Non-current		Current		Non-current
	Assets		Assets		Liabilities		Liabilities
Diesel fixed forwards	$	5	$	2	$	—	$	—

33

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	Fair Values of Derivative Instruments
	At December 31, 2017
	Other		Other		Other		Other
	Current		Non-current		Current		Non-current
	Assets		Assets		Liabilities		Liabilities
A$ operating fixed forwards	$	—	$	—	$	1	$	—
Diesel fixed forwards		6		—		—		—
	$	6	$	—	$	1	$	—

As of June 30, 2018 and December 31, 2017, all hedging instruments held by the Company were subject to enforceable master netting arrangements held by various financial institutions. In general, the terms of the Company’s agreements provide for offsetting of amounts payable or receivable between it and the counterparty, at the election of both parties, for transactions that occur on the same date and in the same currency. The Company’s agreements also provide that in the event of an early termination, the counterparties have the right to offset amounts owed or owing under that and any other agreement with the same counterparty. The Company’s accounting policy is to not offset these positions in its accompanying balance sheets. As of June 30, 2018 and December 31, 2017, the potential effect of netting derivative assets against liabilities due to the master netting agreement was not significant.

The following table shows the effect of cash flow hedge accounting in the Company’s Condensed Consolidated Statements of Operations.

	(Gain) Loss Recognized from Cash Flow Hedges
	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Total Costs applicable to sales	$	965	$	999	$	1,994	$	1,956
Amount of (gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss) from diesel hedging instruments	$	(2)	$	1	$	(4)	$	3
Amount of (gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss) from foreign currency hedging instruments	$	2	$	7	$	5	$	15
Total Interest expense, net	$	49	$	64	$	102	$	131
Amount of (gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss) from discontinued interest rate hedging instruments	$	3	$	3	$	6	$	5

The following table shows the location and amount of (gains) losses reported in the Company’s Condensed Consolidated Financial Statements related to the Company’s hedges.

	Foreign Currency				Diesel Fixed				Interest
	Exchange Contracts				Forward Contracts				Rate Contracts
	2018		2017		2018		2017		2018		2017
For the three months ended June 30,
Cash flow hedging relationships:
(Gain) loss recognized in Other comprehensive income (loss)	$	—	$	—	$	(4)	$	3	$	—	$	—
(Gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss)	$	2	$	7	$	(2)	$	1	$	3	$	3
For the six months ended June 30,
Cash flow hedging relationships:
(Gain) loss recognized in Other comprehensive income (loss)	$	—	$	(4)	$	(5)	$	6	$	—	$	—
(Gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss)	$	5	$	15	$	(4)	$	3	$	6	$	5

Over the next 12 months, the Company expects to reclassify from Accumulated other comprehensive income (loss) to income a loss of approximately $5, net of tax, related to unrealized hedge losses.

34

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

Batu Hijau Contingent Consideration

Consideration received by the Company in conjunction with the sale of PT Newmont Nusa Tenggara included the Contingent Payment and the Elang Development deferred payment deeds, which were determined to be financial instruments that met the definition of a derivative, but do not qualify for hedge accounting, under ASC 815. See Note 14 for additional information. Contingent consideration of $27 and $23 was included in Other non-current assets in the Company's Condensed Consolidated Balance Sheets as of June 30, 2018 and December 31, 2017, respectively.  

Provisional Gold and Copper Sales

The Company’s provisional gold and copper concentrate sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the gold and copper concentrates at the prevailing indices’ prices at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to final settlement.

The impact to Sales from revenue recognized due to the changes in the final pricing is an increase (decrease) of $(6) and $(2) for the three months ended June 30, 2018 and 2017, respectively, and an increase (decrease) of $(8) and $10 for the six months ended June 30, 2018 and 2017, respectively.

At June 30, 2018, Newmont had gold and copper sales of 78,000 ounces and 13 million pounds priced at an average of $1,251 per ounce and $3.01 per pound, respectively, subject to final pricing over the next several months.

NOTE 16    INVESTMENTS

	At June 30, 2018
	Fair Value/
	Equity Basis (1)
Current:
Marketable equity securities	$	56
Non-current:
Marketable equity securities:
Continental Gold Inc.	$	108
Warrants		12
Other marketable equity securities		2
		122
Other investments		5
Equity method investments:
TMAC Resources Inc. (28.71%)		102
Maverix Metals Inc. (27.98%)		78
Minera La Zanja S.R.L. (46.94%)		46
		226
	$	353
Non-current restricted investments: (2)
Marketable debt securities (3)	$	51
Other assets		7
	$	58

35

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	At December 31, 2017
	Cost/Equity		Unrealized				Fair Value/
	Basis		Gain		Loss		Equity Basis (1)
Current:
Marketable equity securities	$	38	$	32	$	(8)	$	62
Non-current:
Marketable equity securities:
Continental Gold Inc.	$	109	$	—	$	(8)	$	101
Warrants		7		—		—		7
Other marketable equity securities		4		—		(2)		2
		120		—		(10)		110
Other investments		5		—		—		5
Equity method investments:
TMAC Resources Inc. (28.79%)		115		—		—		115
Minera La Zanja S.R.L. (46.94%)		50		—		—		50
		165		—		—		165
	$	290	$	—	$	(10)	$	280
Non-current restricted investments: (2)
Marketable debt securities	$	58	$	—	$	(3)	$	55
Other assets		8		1		—		9
	$	66	$	1	$	(3)	$	64

⁽¹⁾ Subsequent to the adoption of ASU No. 2016-01 on January 1, 2018, unrealized gains and losses related to marketable equity securities are recorded in Other income, net. Previously, gains and losses related to unrealized marketable equity securities were recorded in Other comprehensive income (loss).

⁽²⁾ Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. For further information regarding these amounts, see Note 5.

⁽³⁾ There were nominal unrealized gains or losses recorded in Accumulated other comprehensive income (loss) as of June 30, 2018, related to marketable debt securities.

In June 2018, Newmont sold $11 of restricted marketable debt securities for cash in order to fund future remediation work at the Midnite Mine.  

In June 2018, Newmont exchanged certain royalty interests for cash consideration of $17, received in July, and non-cash consideration comprised of 60 million common shares in Maverix and 10 million common share warrants in Maverix, with fair values upon closing of $78 and $5, respectively. Following the transaction, Newmont held a 27.98% equity ownership in Maverix. The Company determined the Maverix investment qualified as an equity method investment.

NOTE 17    INVENTORIES

	At June 30,		At December 31,
	2018		2017
Materials and supplies	$	436	$	416
In-process		135		131
Concentrate and copper cathode		91		83
Precious metals		35		49
	$	697	$	679

36

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 18    STOCKPILES AND ORE ON LEACH PADS

	At June 30,		At December 31,
	2018		2017
Current:
Stockpiles	$	351	$	330
Ore on leach pads		360		346
	$	711	$	676
Non-current:
Stockpiles	$	1,454	$	1,502
Ore on leach pads		383		346
	$	1,837	$	1,848

	At June 30,		At December 31,
	2018		2017
Stockpiles and ore on leach pads:
Carlin	$	469	$	441
Phoenix		68		68
Twin Creeks		329		340
Long Canyon		45		34
CC&V		333		314
Yanacocha		263		270
Merian		31		25
Boddington		445		431
Tanami		1		4
Kalgoorlie		126		125
Ahafo		386		409
Akyem		52		63
	$	2,548	$	2,524

During the three and six months ended June 30, 2018, the Company recorded write-downs of $73 and $152, respectively, classified as components of Costs applicable to sales, and write-downs of $28 and $57, respectively, classified as components of Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs during the three months ended June 30, 2018, $31 is related to Carlin, $17 to Twin Creeks, $2 to Yanacocha, $26 to Ahafo and $25 to Akyem. Of the write-downs during the six months ended June 30, 2018, $57 is related to Carlin, $33 to Twin Creeks, $26 to Yanacocha, $46 to Ahafo and $47 to Akyem.

During the three and six months ended June 30, 2017, the Company recorded write-downs of $46 and $86, respectively, classified as components of Costs applicable to sales, and write-downs of $18 and $31, respectively, classified as components of Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs during the three months ended June 30, 2017, $11 was related to Carlin, $13 to Twin Creeks, $32 to Yanacocha and $8 to Akyem. Of the write-downs during the six months ended June 30, 2017, $34 was related to Carlin, $16 to Twin Creeks, $41 to Yanacocha, $18 to Ahafo and $8 to Akyem.

NOTE 19    DEBT

Scheduled minimum debt repayments are $- for the remainder of 2018, $626 in 2019, $- in 2020, $- in 2021, $992 in 2022 and $2,474 thereafter.

37

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 20     LEASE AND OTHER FINANCING OBLIGATIONS

Scheduled minimum capital lease repayments are $2 in 2018, $3 in 2019, $1 in 2020, $1 in 2021, $1 in 2022 and $1 thereafter.

In December 2017, the Company began the early phases of the Tanami Power project which includes the construction of a gas pipeline to the Tanami site, and construction and operation of two on-site power stations under agreements that qualify for build-to-suit lease accounting. As of June 30, 2018 and December 31, 2017, the financing obligations under the build-to-suit arrangements were $71 and $14, of which $10 was classified as current as of June 30, 2018.

NOTE 21    OTHER LIABILITIES

	At June 30,		At December 31,
	2018		2017
Other current liabilities:
Accrued operating costs	$	109	$	124
Reclamation and remediation liabilities		105		103
Accrued capital expenditures		69		77
Accrued interest		52		52
Royalties		37		63
Holt royalty obligation		14		15
Taxes other than income and mining		5		7
Derivative instruments		—		1
Other		5		20
	$	396	$	462
Other non-current liabilities:
Holt royalty obligation	$	179	$	228
Income and mining taxes		43		47
Power supply agreements		30		32
Social development obligations		21		22
Other		11		13
	$	284	$	342

38

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 22    RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

					Pension and		Unrealized Gain
	Unrealized Gain		Foreign		Other		(Loss) on
	(Loss) on		Currency		Post-retirement		Cash flow
	Marketable		Translation		Benefit		Hedge
	Securities, net		Adjustments		Adjustments		Instruments		Total
Balance at December 31, 2017	$	(116)	$	130	$	(208)	$	(98)	$	(292)
Cumulative effect adjustment of adopting ASU No. 2016-01		115		—		—		—		115
Net current-period other comprehensive income (loss):
Change in other comprehensive income (loss) before reclassifications		1		(4)		—		4		1
Reclassifications from accumulated other comprehensive income (loss)		—		—		9		5		14
Other comprehensive income (loss)	$	1	$	(4)	$	9	$	9	$	15
Balance at June 30, 2018	$	—	$	126	$	(199)	$	(89)	$	(162)

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)								Affected Line Item in the Condensed Consolidated Statements of Operations
	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Pension and other post-retirement benefit adjustments:
Amortization	$	6	$	4	$	12	$	10	Other income, net
Settlements		—		—		—		4	Other income, net
Total before tax		6		4		12		14
Tax		(2)		(1)		(3)		(5)
Net of tax	$	4	$	3	$	9	$	9
Hedge instruments adjustments:
Operating cash flow hedges	$	—	$	8	$	1	$	18	Costs applicable to sales
Interest rate contracts		3		3		6		5	Interest expense, net
Total before tax		3		11		7		23
Tax		(1)		(4)		(2)		(8)
Net of tax	$	2	$	7	$	5	$	15
Total reclassifications for the period, net of tax	$	6	$	10	$	14	$	24

NOTE 23    NET CHANGE IN OPERATING ASSETS AND LIABILITIES

Net cash provided by (used in) operating activities of continuing operations attributable to the net change in operating assets and liabilities is composed of the following:

	Six Months Ended June 30,
	2018		2017
Decrease (increase) in operating assets:
Trade and other accounts receivables	$	37	$	(22)
Inventories, stockpiles and ore on leach pads		(211)		(118)
Other assets		(17)		—
Increase (decrease) in operating liabilities:
Accounts payable and other accrued liabilities		(123)		(128)
Reclamation and remediation liabilities		(33)		(32)
Accrued tax liabilities		(163)		32
	$	(510)	$	(268)

39

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 24    CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

The following Condensed Consolidating Financial Statements are presented to satisfy disclosure requirements of Rule 3-10(e) of Regulation S-X resulting from the inclusion of Newmont USA Limited (“Newmont USA”), a wholly-owned subsidiary of Newmont, as a co-registrant with Newmont on debt securities issued under a shelf registration statement on Form S-3 filed under the Securities Act of 1933 under which securities of Newmont (including debt securities guaranteed by Newmont USA) may be issued (the “Shelf Registration Statement”). In accordance with Rule 3-10(e) of Regulation S-X, Newmont USA, as the subsidiary guarantor, is 100% owned by Newmont, the guarantees are full and unconditional, and no other subsidiary of Newmont guaranteed any security issued under the Shelf Registration Statement. There are no restrictions on the ability of Newmont or Newmont USA to obtain funds from its subsidiaries by dividend or loan.

	Three Months Ended June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	419	$	1,243	$	—	$	1,662
Costs and expenses:
Costs applicable to sales (1)		—		281		684		—		965
Depreciation and amortization		1		75		203		—		279
Reclamation and remediation		—		4		33		—		37
Exploration		—		15		39		—		54
Advanced projects, research and development		—		8		28		—		36
General and administrative		—		22		41		—		63
Other expense, net		—		1		12		—		13
		1		406		1,040		—		1,447
Other income (expense):
Other income, net		(5)		20		124		—		139
Interest income - intercompany		17		11		12		(40)		—
Interest expense - intercompany		(11)		—		(29)		40		—
Interest expense, net		(48)		—		(1)		—		(49)
		(47)		31		106		—		90
Income (loss) before income and mining tax and other items		(48)		44		309		—		305
Income and mining tax benefit (expense)		10		(7)		(21)		—		(18)
Equity income (loss) of affiliates		330		(20)		(7)		(310)		(7)
Net income (loss) from continuing operations		292		17		281		(310)		280
Net income (loss) from discontinued operations		—		—		18		—		18
Net income (loss)		292		17		299		(310)		298
Net loss (income) attributable to noncontrolling interests:		—		—		(6)		—		(6)
Net income (loss) attributable to Newmont stockholders	$	292	$	17	$	293	$	(310)	$	292
Comprehensive income (loss)	$	299	$	17	$	299	$	(310)	$	305
Comprehensive loss (income) attributable to noncontrolling interests		—		—		(6)		—		(6)
Comprehensive income (loss) attributable to Newmont stockholders	$	299	$	17	$	293	$	(310)	$	299

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

40

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	Three Months Ended June 30, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	517	$	1,358	$	—	$	1,875
Costs and expenses:
Costs applicable to sales (1)		—		280		719		—		999
Depreciation and amortization		1		82		227		—		310
Reclamation and remediation		—		4		39		—		43
Exploration		—		13		38		—		51
Advanced projects, research and development		—		2		30		—		32
General and administrative		—		18		40		—		58
Other expense, net		—		2		12		—		14
		1		401		1,105		—		1,507
Other income (expense):
Other income, net		23		3		5		—		31
Interest income - intercompany		23		24		15		(62)		—
Interest expense - intercompany		(14)		(4)		(44)		62		—
Interest expense, net		(59)		(1)		(4)		—		(64)
		(27)		22		(28)		—		(33)
Income (loss) before income and mining tax and other items		(28)		138		225		—		335
Income and mining tax benefit (expense)		9		(22)		(153)		—		(166)
Equity income (loss) of affiliates		194		(150)		(11)		(36)		(3)
Net income (loss) from continuing operations		175		(34)		61		(36)		166
Net income (loss) from discontinued operations		—		—		(15)		—		(15)
Net income (loss)		175		(34)		46		(36)		151
Net loss (income) attributable to noncontrolling interests		—		—		24		—		24
Net income (loss) attributable to Newmont stockholders		175		(34)		70		(36)		175
Comprehensive income (loss)		179		(29)		41		(36)		155
Comprehensive loss (income) attributable to noncontrolling interests		—		—		24		—		24
Comprehensive income (loss) attributable to Newmont stockholders	$	179	$	(29)	$	65	$	(36)	$	179

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

41

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	Six Months Ended June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	931	$	2,548	$	—	$	3,479
Costs and expenses:
Costs applicable to sales (1)		—		605		1,389		—		1,994
Depreciation and amortization		2		162		416		—		580
Reclamation and remediation		—		7		58		—		65
Exploration		—		26		68		—		94
Advanced projects, research and development		—		14		56		—		70
General and administrative		—		41		81		—		122
Other expense, net		—		2		22		—		24
		2		857		2,090		—		2,949
Other income (expense):
Other income, net		3		27		130		—		160
Interest income - intercompany		51		22		21		(94)		—
Interest expense - intercompany		(19)		—		(75)		94		—
Interest expense, net		(97)		(2)		(3)		—		(102)
		(62)		47		73		—		58
Income (loss) before income and mining tax and other items		(64)		121		531		—		588
Income and mining tax benefit (expense)		13		(21)		(115)		—		(123)
Equity income (loss) of affiliates		535		(77)		(16)		(458)		(16)
Net income (loss) from continuing operations		484		23		400		(458)		449
Net income (loss) from discontinued operations		—		—		40		—		40
Net income (loss)		484		23		440		(458)		489
Net loss (income) attributable to noncontrolling interests		—		—		(5)		—		(5)
Net income (loss) attributable to Newmont stockholders	$	484	$	23	$	435	$	(458)	$	484
Comprehensive income (loss)	$	499	$	23	$	440	$	(458)	$	504
Comprehensive loss (income) attributable to noncontrolling interests		—		—		(5)		—		(5)
Comprehensive income (loss) attributable to Newmont stockholders	$	499	$	23	$	435	$	(458)	$	499

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

42

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	Six Months Ended June 30, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	941	$	2,624	$	—	$	3,565
Costs and expenses:
Costs applicable to sales (1)		—		583		1,373		—		1,956
Depreciation and amortization		2		165		443		—		610
Reclamation and remediation		—		7		65		—		72
Exploration		—		22		65		—		87
Advanced projects, research and development		—		3		55		—		58
General and administrative		—		35		78		—		113
Other expense, net		—		8		23		—		31
		2		823		2,102		—		2,927
Other income (expense):
Other income, net		26		3		(7)		—		22
Interest income - intercompany		47		24		22		(93)		—
Interest expense - intercompany		(22)		(4)		(67)		93		—
Interest expense, net		(121)		(3)		(7)		—		(131)
		(70)		20		(59)		—		(109)
Income (loss) before income and mining tax and other items		(72)		138		463		—		529
Income and mining tax benefit (expense)		25		(22)		(280)		—		(277)
Equity income (loss) of affiliates		269		(234)		(13)		(27)		(5)
Net income (loss) from continuing operations		222		(118)		170		(27)		247
Net income (loss) from discontinued operations		—		—		(38)		—		(38)
Net income (loss)		222		(118)		132		(27)		209
Net loss (income) attributable to noncontrolling interests		—		—		13		—		13
Net income (loss) attributable to Newmont stockholders	$	222	$	(118)	$	145	$	(27)	$	222
Comprehensive income (loss)	$	238	$	(109)	$	123	$	(27)	$	225
Comprehensive loss (income) attributable to noncontrolling interests		—		—		13		—		13
Comprehensive income (loss) attributable to Newmont stockholders	$	238	$	(109)	$	136	$	(27)	$	238

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

43

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	Six Months Ended June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
Net cash provided by (used in) operating activities of continuing operations	$	(63)	$	251	$	479	$	—	$	667
Net cash provided by (used in) operating activities of discontinued operations		—		—		(5)		—		(5)
Net cash provided by (used in) operating activities		(63)		251		474		—		662
Investing activities:
Additions to property, plant and mine development		—		(125)		(364)		—		(489)
Acquisitions, net		—		—		(39)		—		(39)
Proceeds from sales of investments		—		11		4		—		15
Purchases of investments		—		—		(6)		—		(6)
Other		—		2		—		—		2
Net cash provided by (used in) investing activities		—		(112)		(405)		—		(517)
Financing activities:
Dividends paid to common stockholders		(150)		—		—		—		(150)
Repurchase of common stock		(70)		—		—		—		(70)
Distributions to noncontrolling interests		—		—		(69)		—		(69)
Funding from noncontrolling interests		—		—		52		—		52
Proceeds from sale of noncontrolling interests		—		—		48		—		48
Payments for withholding of employee taxes related to stock-based compensation		—		(39)		—		—		(39)
Net intercompany borrowings (repayments)		283		(99)		(184)		—		—
Other		—		(1)		(2)		—		(3)
Net cash provided by (used in) financing activities		63		(139)		(155)		—		(231)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		—		—		(2)		—		(2)
Net change in cash, cash equivalents and restricted cash		—		—		(88)		—		(88)
Cash, cash equivalents and restricted cash at beginning of period		—		—		3,298		—		3,298
Cash, cash equivalents and restricted cash at end of period	$	—	$	—	$	3,210	$	—	$	3,210
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	—	$	—	$	3,127	$	—	$	3,127
Restricted cash included in Other current assets		—		—		1		—		1
Restricted cash included in Other noncurrent assets		—		—		82		—		82
Total cash, cash equivalents and restricted cash	$	—	$	—	$	3,210	$	—	$	3,210

44

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	Six Months Ended June 30, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
Net cash provided by (used in) operating activities of continuing operations	$	(116)	$	222	$	796	$	—	$	902
Net cash provided by (used in) operating activities of discontinued operations		—		—		(9)		—		(9)
Net cash provided by (used in) operating activities		(116)		222		787		—		893
Investing activities:
Additions to property, plant and mine development		—		(121)		(242)		—		(363)
Acquisitions, net		—		—		—		—		—
Proceeds from sales of investments		—		—		19		—		19
Purchases of investments		(109)		—		(4)		—		(113)
Other		—		2		15		—		17
Net cash provided by (used in) investing activities		(109)		(119)		(212)		—		(440)
Financing activities:
Dividends paid to common stockholders		(54)		—		—		—		(54)
Repurchase of common stock		—		—		—		—		—
Distributions to noncontrolling interests		—		—		(80)		—		(80)
Funding from noncontrolling interests		—		—		46		—		46
Proceeds from sale of noncontrolling interests		—		—		—		—		—
Payments for withholding of employee taxes related to stock-based compensation		—		(13)		—		—		(13)
Net intercompany borrowings (repayments)		282		(90)		(192)		—		—
Other		(3)		(1)		(2)		—		(6)
Net cash provided by (used in) financing activities		225		(104)		(228)		—		(107)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		—		—		2		—		2
Net change in cash, cash equivalents and restricted cash		—		(1)		349		—		348
Cash, cash equivalents and restricted cash at beginning of period		—		1		2,781		—		2,782
Cash, cash equivalents and restricted cash at end of period	$	—	$	—	$	3,130	$	—	$	3,130
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	—	$	—	$	3,105	$	—	$	3,105
Restricted cash included in Other current assets		—		—		2		—		2
Restricted cash included in Other noncurrent assets		—		—		23		—		23
Total cash, cash equivalents and restricted cash	$	—	$	—	$	3,130	$	—	$	3,130

45

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	At June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets:
Cash and cash equivalents	$	—	$	—	$	3,127	$	—	$	3,127
Trade receivables		—		15		118		—		133
Other accounts receivables		—		—		101		—		101
Intercompany receivable		2,075		4,882		3,692		(10,649)		—
Investments		—		—		56		—		56
Inventories		—		167		530		—		697
Stockpiles and ore on leach pads		—		215		496		—		711
Other current assets		—		40		102		—		142
Current assets		2,075		5,319		8,222		(10,649)		4,967
Property, plant and mine development, net		16		3,059		9,303		(27)		12,351
Investments		113		5		235		—		353
Investments in subsidiaries		13,250		(463)		16		(12,803)		—
Stockpiles and ore on leach pads		—		643		1,194		—		1,837
Deferred income tax assets		87		—		450		—		537
Non-current intercompany receivable		738		527		6		(1,271)		—
Other non-current assets		—		244		366		—		610
Total assets	$	16,279	$	9,334	$	19,792	$	(24,750)	$	20,655
Liabilities:
Lease and other financing obligations	$	—	$	1	$	12	$	—	$	13
Accounts payable		—		74		286		—		360
Intercompany payable		1,364		2,529		6,756		(10,649)		—
Employee-related benefits		—		100		140		—		240
Income and mining taxes		—		8		63		—		71
Other current liabilities		52		115		229		—		396
Current liabilities		1,416		2,827		7,486		(10,649)		1,080
Debt		4,042		—		—		—		4,042
Lease and other financing obligations		—		3		63		—		66
Reclamation and remediation liabilities		—		312		2,057		—		2,369
Deferred income tax liabilities		—		125		464		—		589
Employee-related benefits		1		223		168		—		392
Non-current intercompany payable		7		—		1,291		(1,298)		—
Other non-current liabilities		—		13		271		—		284
Total liabilities		5,466		3,503		11,800		(11,947)		8,822
Contingently redeemable noncontrolling interest		—		—		48		—		48
Equity:
Newmont stockholders’ equity		10,813		5,831		6,972		(12,803)		10,813
Noncontrolling interests		—		—		972		—		972
Total equity		10,813		5,831		7,944		(12,803)		11,785
Total liabilities and equity	$	16,279	$	9,334	$	19,792	$	(24,750)	$	20,655

46

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

	At December 31, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets:
Cash and cash equivalents	$	—	$	—	$	3,259	$	—	$	3,259
Trade receivables		—		18		106		—		124
Other accounts receivables		—		—		113		—		113
Intercompany receivable		2,053		4,601		3,484		(10,138)		—
Investments		—		—		62		—		62
Inventories		—		181		498		—		679
Stockpiles and ore on leach pads		—		196		480		—		676
Other current assets		—		38		115		—		153
Current assets		2,053		5,034		8,117		(10,138)		5,066
Property, plant and mine development, net		17		3,082		9,266		(27)		12,338
Investments		106		4		170		—		280
Investments in subsidiaries		12,012		(311)		—		(11,701)		—
Stockpiles and ore on leach pads		—		648		1,200		—		1,848
Deferred income tax assets		84		5		460		—		549
Non-current intercompany receivable		1,700		401		7		(2,108)		—
Other non-current assets		—		255		310		—		565
Total assets	$	15,972	$	9,118	$	19,530	$	(23,974)	$	20,646
Liabilities:
Lease and other financing obligations	$	—	$	1	$	3	$	—	$	4
Accounts payable		—		83		292		—		375
Intercompany payable		1,338		2,145		6,655		(10,138)		—
Employee-related benefits		—		143		166		—		309
Income and mining taxes		—		18		230		—		248
Other current liabilities		52		163		247		—		462
Current liabilities		1,390		2,553		7,593		(10,138)		1,398
Debt		4,040		—		—		—		4,040
Lease and other financing obligations		—		4		17		—		21
Reclamation and remediation liabilities		—		309		2,036		—		2,345
Deferred income tax liabilities		—		121		474		—		595
Employee-related benefits		—		222		164		—		386
Non-current intercompany payable		7		—		2,128		(2,135)		—
Other non-current liabilities		—		18		324		—		342
Total liabilities		5,437		3,227		12,736		(12,273)		9,127
Contingently redeemable noncontrolling interest		—		—		—		—		—
Equity:
Newmont stockholders’ equity		10,535		5,891		5,810		(11,701)		10,535
Noncontrolling interests		—		—		984		—		984
Total equity		10,535		5,891		6,794		(11,701)		11,519
Total liabilities and equity	$	15,972	$	9,118	$	19,530	$	(23,974)	$	20,646

NOTE 25    COMMITMENTS AND CONTINGENCIES

General

Estimated losses from contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or

47

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

reasonably estimable, disclosure of the contingency and estimated range of loss, if determinable, is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.

Operating Segments

The Company’s operating and reportable segments are identified in Note 3. Except as noted in this paragraph, all of the Company’s commitments and contingencies specifically described herein are included in Corporate and Other. The Yanacocha matters relate to the South America reportable segment. The Fronteer matters relate to the North America reportable segment.

Environmental Matters

Refer to Note 5 for further information regarding reclamation and remediation. Details about certain of the more significant matters are discussed below.

Newmont USA Limited - 100% Newmont Owned

Ross-Adams mine site. By letter dated June 5, 2007, the U.S. Forest Service (“USFS”) notified Newmont that it had expended approximately $0.3 in response costs to address environmental conditions at the Ross-Adams mine in Prince of Wales, Alaska, and requested Newmont USA Limited pay those costs and perform an Engineering Evaluation/Cost Analysis (“EE/CA”) to assess what future response activities might need to be completed at the site. Newmont agreed to perform the EE/CA pursuant to the requirements of an Administrative Settlement Agreement and Order on Consent (“ASAOC”) between the USFS and Newmont. The EE/CA was provided to the USFS in April 2015. During the first quarter of 2016, the USFS confirmed approval of the EE/CA, and Newmont issued written notice to the USFS certifying that all requirements of the ASAOC had been completed. During the third quarter of 2016, Newmont received a notice of completion of work per the ASAOC from the USFS, which finalized the ASAOC. The USFS issued an Action Memorandum in April 2018 to select the preferred Removal Action alternative identified in the EE/CA. Newmont is continuing to negotiate the terms of a future agreement with the USFS for Newmont to implement the approved Removal Action. No assurances can be made at this time with respect to the outcome of such negotiations and Newmont cannot predict the likelihood of additional expenditures related to this matter.

Dawn Mining Company LLC (“Dawn”) - 51% Newmont Owned

Midnite mine site and Dawn mill site. Dawn previously leased an open pit uranium mine, currently inactive, on the Spokane Indian Reservation in the State of Washington. The mine site is subject to regulation by agencies of the U.S. Department of Interior (the Bureau of Indian Affairs and the Bureau of Land Management), as well as the U.S. Environmental Protection Agency (“EPA”).

As per the Consent Decree approved by the U.S. District Court for the Eastern District of Washington on January 17, 2012, the following actions were required of Newmont, Dawn, the Department of the Interior and the EPA: (i) Newmont and Dawn would design, construct and implement the cleanup plan selected by the EPA in 2006 for the Midnite mine site; (ii) Newmont and Dawn would reimburse the EPA for its costs associated with overseeing the work; (iii) the Department of the Interior would contribute a lump sum amount toward past EPA costs and future costs related to the cleanup of the Midnite mine site; (iv) Newmont and Dawn would be responsible for all other EPA oversight costs and Midnite mine site cleanup costs; and (v) Newmont would post a surety bond for work at the site.

During 2012, the Department of Interior contributed its share of past EPA costs and future costs related to the cleanup of the Midnite mine site in a lump sum payment of $42, which Newmont classified as restricted assets with interest on the Condensed Consolidated Balance Sheets for all periods presented. In 2016, Newmont completed the remedial design process (with the exception of the new water treatment plant (“WTP”) design which was awaiting the approval of the new National Pollutant Discharge Elimination System (“NPDES”) permit). Subsequently, the new NPDES permit was received in 2017 and the WTP design

48

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

commenced in 2018. Newmont is managing the remediation project to implement Phase 1 remedial actions during the 2018 construction season with a focus on preparations to backfill Pit 4. In June 2018, $11 was released from the trust account for remedial work completed. 

The Dawn mill site is regulated by the Washington Department of Health and is in the process of being closed. Remediation at the Dawn mill site began in 2013. The Tailing Disposal Area 1-4 reclamation earthworks component was completed during 2017 with the embankment erosion protection completed in Q2 2018. The remaining closure activity will consist primarily of addressing groundwater issues.

The remediation liability for the Midnite mine site and Dawn mill site is approximately $171 at June 30, 2018.

Other Legal Matters

Minera Yanacocha S.R.L. – 51.35% Newmont Owned

Administrative Actions. The Peruvian government agency responsible for environmental evaluation and inspection, Organismo Evaluacion y Fiscalizacion Ambiental (“OEFA”), conducts periodic reviews of the Yanacocha site. In 2011, 2012, 2013, 2015, 2016, 2017 and 2018, OEFA issued notices of alleged violations of OEFA standards to Yanacocha and Conga relating to past inspections. OEFA has resolved some alleged violations with minimal or no findings. In 2015 and 2016, the water authority of Cajamarca issued notices of alleged regulatory violations, and resolved some allegations in 2017 with no findings. The experience with OEFA and the water authority is that in the case of a finding of violation, remedial action is often the outcome rather than a significant fine. The alleged OEFA violations currently range from zero to 44,540 units and the water authority alleged violations range from zero to 59 units, with each unit having a potential fine equivalent to approximately $.001287 based on current exchange rates ($0 to $57). Yanacocha and Conga are responding to all notices of alleged violations, but cannot reasonably predict the outcome of the agency allegations.

Conga Project Constitutional Claim. On October 18, 2012, Marco Antonio Arana Zegarra filed a constitutional claim against the Ministry of Energy and Mines and Yanacocha requesting the Court to order the suspension of the Conga project as well as to declare not applicable the October 27, 2010, directorial resolution approving the Conga project Environmental Impact Assessment (“EIA”). On October 23, 2012, a Cajamarca judge dismissed the claims based on formal grounds finding that: (i) plaintiffs had not exhausted previous administrative proceedings; (ii) the directorial resolution approving the Conga EIA is valid, and was not challenged when issued in the administrative proceedings; (iii) there was inadequate evidence to conclude that the Conga project is a threat to the constitutional right of living in an adequate environment and; (iv) the directorial resolution approving the Conga project EIA does not guarantee that the Conga project will proceed, so there was no imminent threat to be addressed by the Court. The plaintiffs appealed the dismissal of the case. The Civil Court of the Superior Court of Cajamarca confirmed the above mentioned resolution and the plaintiff presented an appeal. On March 13, 2015, the Constitutional Court published its ruling stating that the case should be sent back to the first court with an order to formally admit the case and start the judicial process in order to review the claim and the proofs presented by the plaintiff. Yanacocha has answered the claim. Neither the Company nor Yanacocha can reasonably predict the outcome of this litigation.

Yanacocha Tax Dispute. In 2000, Yanacocha paid Buenaventura and Minas Conga S.R.L. a total of $29 to assume their respective contractual positions in mining concession agreements with Chaupiloma Dos de Cajamarca S.M.R.L. The contractual rights allowed Yanacocha the opportunity to conduct exploration on the concessions, but not a purchase of the concessions. The tax authority alleges that the payments to Buenaventura and Minas Conga S.R.L. were acquisitions of mining concessions requiring the amortization of the amounts under the Peru Mining Law over the life of the mine. Yanacocha expensed the amounts at issue in the initial year since the payments were not for the acquisition of a concession but rather these expenses represent the payment of an intangible and therefore, amortizable in a single year or proportionally for up to ten years according to Income Tax Law. In 2010, the tax court in Peru ruled in favor of Yanacocha and the tax authority appealed the issue to the judiciary. The first appellate court

49

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

confirmed the ruling of the tax court in favor of Yanacocha. However, in November, 2015, a Superior Court in Peru made an appellate decision overturning the two prior findings in favor of Yanacocha. Yanacocha has appealed the Superior Court ruling to the Peru Supreme Court. The potential liability in this matter is in the form of fines and interest in an amount up to $83. While the Company has assessed that the likelihood of a ruling against Yanacocha in the Supreme Court as remote, it is not possible to fully predict the outcome of this litigation.

NWG Investments Inc. v. Fronteer Gold Inc.

In April 2011, Newmont acquired Fronteer Gold Inc. (“Fronteer”).

Fronteer acquired NewWest Gold Corporation (“NewWest Gold”) in September 2007. At the time of that acquisition, NWG Investments Inc. (“NWG”) owned approximately 86% of NewWest Gold and an individual named Jacob Safra owned or controlled 100% of NWG. Prior to its acquisition of NewWest Gold, Fronteer entered into a June 2007 lock-up agreement with NWG providing that, among other things, NWG would support Fronteer’s acquisition of NewWest Gold. At that time, Fronteer owned approximately 47% of Aurora Energy Resources Inc. (“Aurora”), which, among other things, had a uranium exploration project in Labrador, Canada.

NWG contends that, during the negotiations leading up to the lock-up agreement, Fronteer represented to NWG, among other things, that Aurora would commence uranium mining in Labrador by 2013, that this was a firm date, that Aurora faced no current environmental issues in Labrador and that Aurora’s competitors faced delays in commencing uranium mining. NWG further contends that it entered into the lock-up agreement and agreed to support Fronteer’s acquisition of NewWest Gold in reliance upon these purported representations. On October 11, 2007, less than three weeks after the Fronteer-NewWest Gold transaction closed, a member of the Nunatsiavut Assembly introduced a motion calling for the adoption of a moratorium on uranium mining in Labrador. On April 8, 2008, the Nunatsiavut Assembly adopted a three-year moratorium on uranium mining in Labrador. NWG contends that Fronteer was aware during the negotiations of the NWG/Fronteer lock-up agreement that the Nunatsiavut Assembly planned on adopting this moratorium and that its adoption would preclude Aurora from commencing uranium mining by 2013, but Fronteer nonetheless fraudulently induced NWG to enter into the lock-up agreement.

On September 24, 2012, NWG served a summons and complaint on the Company, and then amended the complaint to add Newmont Canada Holdings ULC as a defendant. The complaint also named Fronteer Gold Inc. and Mark O’Dea as defendants. The complaint sought rescission of the merger between Fronteer and NewWest Gold and $750 in damages. In August 2013 the Supreme Court of New York, New York County issued an order granting the defendants’ motion to dismiss on forum non conveniens. Subsequently, NWG filed a notice of appeal of the decision and then a notice of dismissal of the appeal on March 24, 2014.

On February 26, 2014, NWG filed a lawsuit in Ontario Superior Court of Justice against Fronteer Gold Inc., Newmont Mining Corporation, Newmont Canada Holdings ULC, Newmont FH B.V. and Mark O’Dea. The Ontario complaint is based upon substantially the same allegations contained in the New York lawsuit with claims for fraudulent and negligent misrepresentation. NWG seeks disgorgement of profits since the close of the NWG deal on September 24, 2007 and damages in the amount of C$1.2 billion. Newmont, along with other defendants, served the plaintiff with its statement of defense on October 17, 2014. Newmont intends to vigorously defend this matter, but cannot reasonably predict the outcome.

Other Commitments and Contingencies

Newmont is from time to time involved in various legal proceedings related to its business. Except in the above described proceedings, management does not believe that adverse decisions in any pending or threatened proceeding or that amounts that may be required to be paid by reason thereof will have a material adverse effect on the Company’s financial condition or results of operations.

50

NEWMONT MINING CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(dollars in millions, except per share, per ounce and per pound amounts)

NOTE 26    SUBSEQUENT EVENTS

In July 2018, Newmont signed a definitive agreement for the purchase of a 50% interest in the Galore Creek Partnership from NovaGold Resources Inc. for cash consideration of $100, as well as deferred payments of $100 and contingent payments of $75.  Galore Creek is located in the traditional territory of the Tahltan Nation in northwestern British Columbia, Canada.  In connection with the purchase from NovaGold, we also entered into a revised partnership agreement with Teck Resources Limited, who holds the remaining 50% interest.

51

ITEM 2.       MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS(dollars in millions, except per share, per ounce and per pound amounts)

The following Management’s Discussion and Analysis (“MD&A”) provides information that management believes is relevant to an assessment and understanding of the consolidated financial condition and results of operations of Newmont Mining Corporation and its subsidiaries (collectively, “Newmont,” the “Company,” “our” and “we”). We use certain non-GAAP financial measures in our MD&A. For a detailed description of each of the non-GAAP measures used in this MD&A, please see the discussion under “Non-GAAP Financial Measures” beginning on page 68. References to “A$” refers to Australian currency.

This item should be read in conjunction with our interim unaudited Condensed Consolidated Financial Statements and the notes thereto included in this quarterly report. Additionally, the following discussion and analysis should be read in conjunction with Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations and the consolidated financial statements included in Part II of our Annual Report on Form 10-K for the year ended December 31, 2017 filed February 22, 2018 and revisions filed April 26, 2018 on Form 8-K.

Overview 

Newmont is one of the world’s largest gold producers and is the only gold company included in the S&P 500 Index and Fortune 500. We have been included in the Dow Jones Sustainability Index-World for 11 consecutive years and have adopted the World Gold Council’s Conflict-Free Gold Policy. We are also engaged in the exploration for and acquisition of gold and copper properties. We have significant operations and/or assets in the United States (“U.S.”), Australia, Peru, Ghana and Suriname.

We continue to focus on improving safety and efficiency at our operations, maintaining leading environmental, social and governance practices, and building a stronger portfolio of longer-life, lower cost mines to generate the financial flexibility we need to fund our best projects, reduce debt, and return cash to shareholders.

Consolidated Financial Results 

The details of our Net income (loss) from continuing operations attributable to Newmont stockholders are set forth below:

	Three Months Ended
	June 30,				Increase
	2018		2017		(decrease)
Net income (loss) from continuing operations attributable to Newmont stockholders	$	274	$	190	$	84
Net income (loss) from continuing operations attributable to Newmont stockholders per common share, diluted	$	0.51	$	0.36	$	0.15

	Six Months Ended
	June 30,				Increase
	2018		2017		(decrease)
Net income (loss) from continuing operations attributable to Newmont stockholders	$	444	$	260	$	184
Net income (loss) from continuing operations attributable to Newmont stockholders per common share, diluted	$	0.83	$	0.49	$	0.34

The increases in Net income (loss) from continuing operations attributable to Newmont stockholders for the three and six months ended June 30, 2018, compared to the same periods in 2017, are primarily due to lower income tax expense, a gain from the sale of our royalty portfolio in June 2018 and higher average realized prices, partially offset by lower production at various sites, including CC&V, Boddington, Akyem and Twin Creeks. For discussion regarding variations in production volumes and unit cost metrics, see Results of Consolidated Operations below.

52

The details of our Sales are set forth below. See Note 4 to our Condensed Consolidated Financial Statements for additional information.

	Three Months Ended
	June 30,				Increase		Percent
	2018		2017		(decrease)		Change
Gold	$	1,581	$	1,799	$	(218)	(12)	%
Copper		81		76		5	7
	$	1,662	$	1,875	$	(213)	(11)	%

	Six Months Ended
	June 30,				Increase		Percent
	2018		2017		(decrease)		Change
Gold	$	3,320	$	3,418	$	(98)	(3)	%
Copper		159		147		12	8
	$	3,479	$	3,565	$	(86)	(2)	%

The following analysis summarizes consolidated gold sales:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Consolidated gold sales:
Gross before provisional pricing	$	1,595	$	1,808	$	3,339	$	3,426
Provisional pricing mark-to-market		(7)		(1)		(5)		7
Gross after provisional pricing		1,588		1,807		3,334		3,433
Treatment and refining charges		(7)		(8)		(14)		(15)
Net	$	1,581	$	1,799	$	3,320	$	3,418
Consolidated gold ounces sold (thousands)		1,224		1,439		2,536		2,767
Average realized gold price (per ounce):
Gross before provisional pricing	$	1,304	$	1,256	$	1,317	$	1,238
Provisional pricing mark-to-market		(6)		—		(2)		3
Gross after provisional pricing		1,298		1,256		1,315		1,241
Treatment and refining charges		(6)		(6)		(5)		(6)
Net	$	1,292	$	1,250	$	1,310	$	1,235

The change in consolidated gold sales is due to:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2018 vs. 2017		2018 vs. 2017
Change in consolidated ounces sold	$	(270)	$	(287)
Change in average realized gold price		51		188
Change in treatment and refining charges		1		1
	$	(218)	$	(98)

The decreases in gold sales during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, are primarily due to lower production at various sites, including CC&V, Boddington, Akyem and Twin Creeks, partially offset by higher average realized gold prices. For further discussion regarding changes in volumes, see Results of Consolidated Operations below.

53

The following analysis summarizes consolidated copper sales:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Consolidated copper sales:
Gross before provisional pricing	$	83	$	81	$	168	$	151
Provisional pricing mark-to-market		1		(1)		(3)		3
Gross after provisional pricing		84		80		165		154
Treatment and refining charges		(3)		(4)		(6)		(7)
Net	$	81	$	76	$	159	$	147
Consolidated copper pounds sold (millions)		27		32		54		58
Average realized copper price (per pound):
Gross before provisional pricing	$	3.09	$	2.60	$	3.11	$	2.62
Provisional pricing mark-to-market		0.03		(0.02)		(0.05)		0.06
Gross after provisional pricing		3.12		2.58		3.06		2.68
Treatment and refining charges		(0.13)		(0.12)		(0.13)		(0.12)
Net	$	2.99	$	2.46	$	2.93	$	2.56

The change in consolidated copper sales is due to:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2018 vs. 2017		2018 vs. 2017
Change in consolidated pounds sold	$	(10)	$	(9)
Change in average realized copper price		14		20
Change in treatment and refining charges		1		1
	$	5	$	12

The increases in copper sales during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, are primarily due to higher average realized copper prices, partially offset by lower production at Phoenix. For further discussion regarding changes in volumes, see Results of Consolidated Operations below.

The details of our Costs applicable to sales are set forth below. See Note 3 to our Condensed Consolidated Financial Statements for additional information.

	Three Months Ended
	June 30,				Increase		Percent
	2018		2017		(decrease)		Change
Gold	$	919	$	955	$	(36)	(4)	%
Copper		46		44		2	5
	$	965	$	999	$	(34)	(3)	%

	Six Months Ended
	June 30,				Increase		Percent
	2018		2017		(decrease)		Change
Gold	$	1,901	$	1,873	$	28	1	%
Copper		93		83		10	12
	$	1,994	$	1,956	$	38	2	%

The decrease in Costs applicable to sales for gold during the three months ended June 30, 2018, compared to the same period in 2017, is primarily due to lower production at various sites, partially offset by higher stockpile and leach pad inventory adjustments and higher oil prices.

54

Costs applicable to sales for gold during the six months ended June 30, 2018, remained relatively flat, compared to the same period in 2017, as higher stockpile and leach pad inventory adjustments and higher oil prices were offset by lower production at various sites.

The increases in Costs applicable to sales for copper during the three and six months ended June 30, 2018, compared to the same periods in 2017, are primarily due to a higher co-product allocation of costs to copper based on a higher relative copper sales value.

For discussion regarding variations in operations, see Results of Consolidated Operations below.

The details of our Depreciation and amortization are set forth below. See Note 3 to our Condensed Consolidated Financial Statements for additional information.

	Three Months Ended
	June 30,				Increase		Percent
	2018		2017		(decrease)		Change
Gold	$	260	$	292	$	(32)	(11)	%
Copper		10		10		—	—
Other		9		8		1	13
	$	279	$	310	$	(31)	(10)	%

	Six Months Ended
	June 30,				Increase		Percent
	2018		2017		(decrease)		Change
Gold	$	544	$	575	$	(31)	(5)	%
Copper		20		19		1	5
Other		16		16		—	—
	$	580	$	610	$	(30)	(5)	%

The decreases in Depreciation and amortization for goldduring the three and six months ended June 30, 2018, compared to the same periods in 2017, are primarily due to lower production at various sites, partially offset by higher stockpile and leach pad inventory adjustments.

Depreciation and amortization for copper remained relatively flat during the three and six months ended June 30, 2018, compared to the same periods in 2017.

For discussion regarding variations in operations, see Results of Consolidated Operations below.

Reclamation and remediation decreased by $6 and $7 during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, primarily due to updated reclamation liability assumptions at Yanacocha regarding water treatment costs on non-operating leach pads of $15 in 2017, partially offset by updated assumptions at a historic mine site for future water management costs of $8 in 2018.

Exploration increased by $3 and $7 during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, primarily due to increased expenditures at various projects in Australia  as we continue to focus on developing future reserves.

Advanced projects, research and development increased by $4 and $12 during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, primarily due to costs associated with full potential opportunities in North America and South America, as well as on-going study costs on the Long Canyon Phase 2 project in North America, and the Chaquicocha underground and Yanacocha Sulfides projects in South America.

General and administrative increased by $5 and $9 during the three and six months ended June 30, 2018, compared to the same periods in 2017, primarily due to higher IT project and services costs.

55

Other expense, net decreased by $1 and $7 during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, primarily due to prior-year net adjustments to the contingent consideration and related liabilities associated with the acquisition of the final 33.33% interest in Boddington in June 2009 and non-cash write-downs of obsolete assets at Yanacocha and Australia in 2017, partially offset by higher severance, legal, and other settlements.

Other income, net   increased by $108 and $138 during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, primarily due to a gain from the exchange of certain royalty interests for cash consideration and an equity ownership and warrants in Maverix Metals Inc. (“Maverix”) in June 2018 and decreases in Australia-denominated liabilities from a weaker Australian dollar.

Interest expense, net decreased by $15 and $29 during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, primarily due to reduced debt balances as a result of the repayment of the 2017 Convertible Senior Notes in July 2017 and higher capitalized interest related to various development projects in 2018.

Income and mining tax expense (benefit) was $18 and $123, and $166 and $277 during the three and six months ended June 30, 2018, respectively. The effective tax rate is driven by a number of factors and the comparability of our income tax expense for the reported periods will be primarily affected by (i) variations in our income before income taxes; (ii) geographic distribution of that income; (iii) impacts of the enactment of tax reform; (iv) the non-recognition of tax assets; (v) percentage depletion; (vi) and the impact of specific transactions and assessments. As a result, the effective tax rate will fluctuate, sometimes significantly, year to year. This trend is expected to continue in future periods. See Note 8 for further discussion of income taxes.

	Three months ended June 30, 2018(1)								Six months ended June 30, 2018(1)
						Income Tax								Income Tax
	Income		Effective			Expense			Income		Effective			Benefit
	(Loss)(2)		Tax Rate			(Benefit)			(Loss)(2)		Tax Rate			(Provision)
Nevada	$	72		15	%	$	11	(3)	$	170		16	%	$	27	(3)
CC&V		25		20			5	(4)		50		10			5	(4)
Corporate & Other		(9)		178			(16)	(5)		(76)		38			(29)	(5)
Total US		88		—			—			144		2			3
Australia		172		8			13	(6)		344		22			76	(6)
Ghana		22		32			7			56		34			19
Suriname		32		25			8			91		26			24
Peru		(10)		(10)			1	(7)		(47)		(6)			3	(7)
Other Foreign		1		—			—			—		—			—
Rate adjustments		—		N/A			(11)	(8)		—		N/A			(2)	(8)
Consolidated	$	305		6	%	$	18		$	588		21	%	$	123

⁽¹⁾ The June 30, 2017 information has not been presented as such comparison would not be meaningful as a result of tax restructuring implemented by the Company at December 31, 2017. Due to changes the Tax Cuts and Jobs Act made to certain international tax provisions, it was prudent for the Company to restructure the holding of its non-U.S. operations for U.S. federal income tax purposes. This was accomplished by executing and filing various “check the box” elections with respect to certain non-U.S. subsidiaries of the Company. The elections resulted in the conversions of these subsidiaries from branches and/or foreign partnerships to regarded foreign corporations.

⁽²⁾ Represents income (loss) from continuing operations by geographic location before income taxes and equity in affiliates. These amounts will not reconcile to the Segment Information for the reasons stated in Note 3.

⁽³⁾ Includes deduction for percentage depletion of $(8) and $(19) and mining taxes of $4 and $10, respectively.

⁽⁴⁾ Includes deduction for percentage depletion of $- and $(6), respectively.

⁽⁵⁾ Includes valuation allowance release of $(14) and $(11), respectively.

⁽⁶⁾ Includes mining taxes of $9 and $20 and valuation allowance release of $(46) and $(46), respectively.

⁽⁷⁾ Includes valuation allowance of $1 and $10 and mining taxes of $1 and $2, respectively.

⁽⁸⁾ In accordance with applicable accounting rules, the interim provision for income taxes is adjusted to equal the consolidated tax rate.

During the second quarter, we completed a fixed asset study regarding the deductibility of certain mineral interests related to Boddington. Based on the work performed to date, we determined the Company will be able to realize certain Australian deferred tax assets and recorded a tax benefit of $45 during the quarter. This adjustment was treated as a change to the provisional amount recorded in the fourth quarter of 2017 for the impacts of US tax reform as it relates to balances impacted by the tax restructuring completed at year-end. We expect to record additional updates to the provisional amounts for the impacts of US tax reform during the last half of 2018 following completion of the 2017 income tax returns and within the 12 month time frame provided under the SEC’s Staff Accounting Bulletin 118.

56

Equity income (loss) of affiliates decreased by $4 and $11 during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, primarily due to increased losses recognized at TMAC Resources Inc. and Minera La Zanja S.R.L.

Net income (loss) from discontinued operations increased by $33 and $78 during the three and six months ended June 30, 2018, respectively, compared to the same periods in 2017, as detailed below:

	Three Months Ended
	June 30,				Increase		Percent
	2018		2017		(decrease)		Change
Holt royalty obligation	$	17	$	(15)	$	32	(213)	%
Batu Hijau contingent consideration		1		—		1	N.M.
	$	18	$	(15)	$	33	(220)	%

	Six Months Ended
	June 30,				Increase		Percent
	2018		2017		(decrease)		Change
Holt royalty obligation	$	36	$	(38)	$	74	(195)	%
Batu Hijau contingent consideration		4		—		4	N.M.
	$	40	$	(38)	$	78	(205)	%

N.M. – Not meaningful.

During the three and six months ended June 30, 2018 the Holt royalty obligation increased the net income from discontinued operations primarily due to an increase in discount rate and decrease in gold price. The six-month period was also impacted by a decrease in expected production based on gold reserves and resources from Kirkland Lake Gold Ltd., which were updated in the first quarter of 2018. During the three and six months ended June 30, 2017, the Holt royalty obligation increased the net loss from discontinued operations primarily due to an increase in gold price and decrease in discount rate. The six month comparison was also impacted by an increase in the expected production based on gold reserves and resources from Kirkland Lake Gold Ltd., which were updated in the first quarter of 2017.  

For additional information regarding our discontinued operations, see Note 9 to our Condensed Consolidated Financial Statements.

Net loss (income) attributable to noncontrolling interests from continuing operations  increased by $30 and $18 during the three and six months ended June 30, 2018, respectively, compared to the same periods of 2017, primarily due to decreased losses at Yanacocha.

57

Results of Consolidated Operations 

	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Three Months Ended June 30,
Gold	(ounces in thousands)		($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
North America	430	578	$	802	$	628	$	238	$	219	$	1,056	$	797
South America	221	241		711		825		213		263		1,005		1,071
Australia	391	401		710		652		128		130		851		782
Africa	200	220		762		605		349		250		942		795
Total/Weighted-Average	1,242	1,440	$	751	$	664	$	221	$	208	$	1,024	$	883
Attributable to Newmont	1,162	1,352
Copper	(pounds in millions)		($ per pound sold)				($ per pound sold)				($ per pound sold)
North America	7	9	$	2.00	$	1.60	$	0.52	$	0.40	$	2.57	$	2.00
Australia	24	22		1.59		1.27		0.30		0.27		1.87		1.55
Total/Weighted-Average	31	31	$	1.70	$	1.38	$	0.35	$	0.31	$	2.05	$	1.69
Copper	(tonnes in thousands)
North America	4	5
Australia	10	10
Total/Weighted-Average	14	15

	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Six Months Ended June 30,
Gold	(ounces in thousands)		($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
North America	920	1,082	$	782	$	693	$	236	$	230	$	996	$	869
South America	442	484		747		736		225		250		1,002		958
Australia	757	761		709		651		130		135		853		779
Africa	409	440		754		615		337		254		923		773
Total/Weighted-Average	2,528	2,767	$	750	$	677	$	221	$	214	$	998	$	891
Attributable to Newmont	2,371	2,586
Copper	(pounds in millions)		($ per pound sold)				($ per pound sold)				($ per pound sold)
North America	14	19	$	1.93	$	1.70	$	0.51	$	0.45	$	2.35	$	2.05
Australia	43	41		1.63		1.29		0.30		0.26		1.95		1.55
Total/Weighted-Average	57	60	$	1.72	$	1.43	$	0.36	$	0.33	$	2.06	$	1.72
Copper	(tonnes in thousands)
North America	7	9
Australia	19	19
Total/Weighted-Average	26	28

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

⁽²⁾ All-In Sustaining Costs is a non-GAAP financial measure. See Non-GAAP Financial Measures beginning on page 68.  

Three months ended June 30, 2018 compared to 2017 

Consolidated gold production decreased 14% primarily due to a build up of concentrate inventory at CC&V, lower ore grade mined and lower leach production at North America, lower drawdown of in-circuit inventory at Merian in South America, lower ore grade milled at Boddington in Australia, and lower mill throughput and grade at Akyem in Africa, partially offset by a drawdown of in-circuit inventory at Ahafo in Africa.

Consolidated copper production was in line with prior year.

Costs applicable to sales per consolidated gold ounce increased 13% primarily due to lower production, higher stockpile and leach pad inventory adjustments and higher oil prices. Costs applicable to sales per consolidated copper pound increased 23% primarily due to a higher co-product allocation of costs to copper based on a higher relative copper sales value.

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Depreciation and amortization per consolidated gold ounce increased 6% primarily due to lower production, partially offset by lower amortization rates. Depreciation and amortization per consolidated copper pound increased 13% primarily due to lower copper pounds sold.

All-in sustaining costs per consolidated gold ounce increased 16% primarily due to higher costs applicable to sales per ounce and higher sustaining capital spend. All-in sustaining costs per consolidated copper pound increased 21% primarily due to higher costs applicable to sales per pound and higher sustaining capital spend.

Six months ended June 30, 2018 compared to 2017 

Consolidated gold production decreased 9% primarily due to lower ore grade milled and recovery at CC&V and Twin Creeks in North America, in addition to a build up of concentrate inventory at CC&V, lower ore grade milled and leach production at Yanacocha in South America, lower ore grade milled and recovery at Boddington in Australia and lower mill throughput and grade at Akyem in Africa, partially offset by higher leach production at Long Canyon in North America, higher mill throughput and grade at Tanami in Australia and higher ore grade milled at Ahafo in Africa.

Consolidated copper production decreased by 5% primarily due to lower ore grade milled at Phoenix in North America, partially offset by higher mill throughput and recovery at Boddington in Australia.

Costs applicable to sales per consolidated gold ounce increased 11% primarily due to lower ounces sold, higher stockpile and leach pad inventory adjustments and higher oil prices, partially offset by a lower co-product allocation of costs to gold. Costs applicable to sales per consolidated copper pound increased 20% primarily due to lower production and a higher co-product allocation of costs to copper.

Depreciation and amortization per consolidated gold ounce increased 3% primarily due to lower ounces sold and higher stockpile and leach pad inventory adjustments. Depreciation and amortization per consolidated copper pound increased 9% primarily due to a higher co-product allocation of costs to copper based on a higher relative copper sales value and lower copper pounds sold.

All-in sustaining costs per consolidated gold ounce increased 12% primarily due to higher costs applicable to sales per ounce and higher sustaining capital spend. All-in sustaining costs per consolidated copper pound increased 20% primarily due to higher costs applicable to sales per pound and higher sustaining capital spend.

North America Operations

	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Three Months Ended June 30,
Gold	(ounces in thousands)		($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
Carlin	183	220	$	949	$	766	$	234	$	207	$	1,217	$	1,009
Phoenix	54	61		819		807		193		211		1,057		982
Twin Creeks	87	122		770		492		180		137		878		597
Long Canyon	42	44		422		289		452		400		502		311
CC&V	64	131		654		561		217		250		857		629
Total/Weighted-Average (3)	430	578	$	802	$	628	$	238	$	219	$	1,056	$	797
Copper	(pounds in millions)		($ per pound sold)				($ per pound sold)				($ per pound sold)
Phoenix	7	9	$	2.00	$	1.60	$	0.52	$	0.40	$	2.57	$	2.00
Copper	(tonnes in thousands)
Phoenix	4	5

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	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Six Months Ended June 30,
Gold	(ounces in thousands)		($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
Carlin	414	432	$	906	$	861	$	230	$	226	$	1,119	$	1,105
Phoenix	116	111		809		874		191		223		983		1,058
Twin Creeks	168	205		768		534		182		149		882		649
Long Canyon	87	77		388		325		435		403		464		351
CC&V	135	257		637		573		229		250		831		642
Total/Weighted-Average (3)	920	1,082	$	782	$	693	$	236	$	230	$	996	$	869
Copper	(pounds in millions)		($ per pound sold)				($ per pound sold)				($ per pound sold)
Phoenix	14	19	$	1.93	$	1.70	$	0.51	$	0.45	$	2.35	$	2.05
Copper	(tonnes in thousands)
Phoenix	7	9

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

⁽²⁾ All-In Sustaining Costs is a non-GAAP financial measure. See Non-GAAP Financial Measures beginning on page 68.

⁽³⁾ All-In Sustaining Costs and Depreciation and amortization include expense for other regional projects.

Three months ended June 30, 2018 compared to 2017 

Carlin, USA. Gold production decreased 17% primarily due to lower ore grade mined from Leeville and Chukar, as well as lower leach placement at Emigrant. Costs applicable to sales per ounce increased 24% primarily due to lower production and higher stockpile and leach-pad inventory adjustments driven by planned stripping at Silverstar. Depreciation and amortization per ounce increased 13% primarily due to lower ounces sold. All-in sustaining costs per ounce increased 21% primarily due to higher costs applicable to sales per ounce, partially offset by lower sustaining capital spend.

Phoenix, USA. Gold production decreased 11% primarily due to lower leach production from reduced ore placement and grade at Lone Tree, as well as lower mill recovery, partially offset by higher mill throughput. Copper production decreased 22% primarily due to lower ore grade milled and lower leach ore placement. Costs applicable to sales  per ounce was in line with the prior period. Costs applicable to sales per pound increased 25% primarily due to lower copper pounds sold. Depreciation and amortization per ounce decreased 9% primarily due to lower amortization rates at Lone Tree. Depreciation and amortization per pound increased 30% primarily due to lower copper pounds sold. All-in sustaining costs per ounce increased 8% primarily due to higher sustaining capital spend. All-in sustaining costs per pound increased 29% primarily due to higher costs applicable to sales per pound.

Twin Creeks, USA. Gold production decreased 29% primarily due to lower ore grades mined and milled as a result of mine sequencing. Costs applicable to sales per ounce increased 57% primarily due to lower ounces sold and higher stockpile and leach pad inventory adjustments. Depreciation and amortization per ounce increased 31% primarily due to lower ounces sold. All-in sustaining costs per ounce increased 47% primarily due to higher costs applicable to sales per ounce, partially offset by lower sustaining capital spend.

Long Canyon, USA. Gold production decreased 5% primarily due to lower ore grade mined. Costs applicable to sales per ounce increased 46% primarily due to lower ore grade mined. Depreciation and amortization per ounce increased 13% primarily due to lower ounces sold and higher amortization rates. All-in sustaining cost per ounce increased 61% primarily due to higher cost applicable to sales per ounce and higher sustaining capital spend.

CC&V, USA. Gold production decreased 51% primarily due to a build up of concentrate inventory to be shipped and processed in Nevada, as well as lower leach tons and grade at Valley Leach Fill 2. Costs applicable to sales per ounce increased 17% primarily due to lower ounces sold. Depreciation and amortization per ounce decreased 13% primarily due to lower amortization rates driven by reserve life additions, partially offset by lower ounces sold. All-in sustaining costs per ounce increased 36% primarily due to higher sustaining capital spend and higher costs applicable to sales per ounce.

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Six months ended June 30, 2018 compared to 2017

Carlin, USA. Gold production decreased 4% primarily due to lower leach ore placement at Emigrant and the timing of leach recoveries at North Area Leach. Costs applicable to sales per ounce increased 5% primarily due to lower ounces sold. Depreciation and amortization per ounce and All-in sustaining costs per ounce were in line with prior period.

Phoenix, USA. Gold production increased 5% primarily due to higher ore grade milled. Copper production decreased 26% primarily due to lower ore grade milled. Costs applicable to sales per ounce decreased 7% primarily due to higher ounces sold, partially offset by a higher co-product allocation of costs to gold.  Costs applicable to sales per pound increased 14% primarily due to lower copper pounds sold, partially offset by a lower co-product allocation of costs to copper.  Depreciation and amortization per ounce decreased 14% primarily due to higher ounces sold. Depreciation and amortization per pound increased 13% primarily due to lower copper pounds sold. All-in sustaining costs per ounce decreased 7% primarily due to lower costs applicable to sales per ounce. All-in sustaining costs per pound increased 15% primarily due to the higher costs applicable to sales per pound.

Twin Creeks, USA. Gold production decreased 18% primarily due to lower ore grades mined and milled as a result of mine sequencing. Costs applicable to sales per ounce increased 44% primarily due to lower ounces sold and higher stockpile and leach pad inventory adjustments. Depreciation and amortization per ounce increased 22% primarily due to lower ounces sold. All-in sustaining costs per ounce increased 36% primarily due to the higher costs applicable to sales per ounce, partially offset by lower sustaining capital spend.

Long Canyon, USA. Gold production increased 13% primarily due to commencement of operations in late 2016, resulting in lower production in the prior year. Costs applicable to sales per ounce increased 19% primarily due to lower ore grade mined, partially offset by higher ounces sold. Depreciation and amortization per ounce increased 8% primarily due to higher amortization rates. All-in sustaining cost per ounce increased 32% primarily due to higher cost applicable to sales per ounce and higher sustaining capital spend.

CC&V, USA. Gold production decreased 47% primarily due to lower mill grades and recovery and a build up of concentrate inventory to be shipped and processed in Nevada, as well as lower leach tons and grade at Valley Leach Fill 2. Costs applicable to sales per ounce increased 11% primarily due to lower production. Depreciation and amortization per ounce decreased 8% primarily due to lower amortization rates driven by reserve life additions. All-in sustaining costs per ounce increased 29% primarily due to higher sustaining capital and higher costs applicable to sales per ounce.

South America Operations

	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Three Months Ended June 30,	(ounces in thousands)			($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
Yanacocha	116	120	$	815	$	1,117	$	199	$	283	$	1,049	$	1,408
Merian	105	121		594		533		196		217		833		600
Total / Weighted Average (3)	221	241	$	711	$	825	$	213	$	263	$	1,005	$	1,071
Yanacocha (48.65%) (4)	(53)	(58)
Merian (25.00%)	(27)	(30)
Attributable to Newmont	141	153

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	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Six Months Ended June 30,	(ounces in thousands)			($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
Yanacocha	220	258	$	937	$	944	$	237	$	261	$	1,160	$	1,179
Merian	222	226		563		491		184		206		727		561
Total / Weighted Average (3)	442	484	$	747	$	736	$	225	$	250	$	1,002	$	958
Yanacocha (48.65%) (4)	(101)	(125)
Merian (25.00%)	(56)	(56)
Attributable to Newmont	285	303

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

⁽²⁾ All-In Sustaining Costs is a non-GAAP financial measure. See Non-GAAP Financial Measures beginning on page 68.

⁽³⁾ All-In Sustaining Costs and Depreciation and amortization include expense for other regional projects.

⁽⁴⁾ In December 2017, Minera Yanacocha S.R.L. (“Yanacocha”) repurchased a 5% interest held by the International Finance Corporation, increasing Newmont’s ownership in Yanacocha from 51.35% to 54.05% as of December 31, 2017. In June 2018, Yanacocha sold a 5% ownership interest to a subsidiary of Sumitomo Corporation, reducing Newmont’s ownership to 51.35% as of June 30, 2018. See Note 10 to our Condensed Consolidated Financial Statements.

Three months ended June 30, 2018 compared to 2017 

Yanacocha, Peru. Gold production was in line with the prior period. Costs applicable to sales per ounce decreased 27% primarily due to lower stockpile and leach pad inventory adjustments and higher by-product credits from the sale of copper and silver concentrates. Depreciation and amortization per ounce decreased 30% primarily due to lower stockpile and leach pad inventory adjustments. All-in sustaining costs per ounce decreased 25% primarily due to lower costs applicable to sales per ounce and lower sustaining capital spend.

Merian, Suriname. Gold production decreased 13% primarily due to a lower drawdown of in-circuit inventory, compared to the prior period, and lower ore grade milled and recovery, partially offset by higher mill throughput. Costs applicable to sales per ounce increased 11% primarily due to lower ounces sold, lower ore grade mined and an unfavorable strip ratio. Depreciation and amortization per ounce decreased 10% primarily due to lower amortization rates. All-in sustaining cost per ounce increased 39% primarily due to higher sustaining capital spend and higher costs applicable to sales per ounce sold.

Six months ended June 30, 2018 compared to 2017

Yanacocha, Peru. Gold production decreased 15% primarily due to lower mill grade and lower leach recoveries, partially offset by higher mill throughput. Costs applicable to sales per ounce was in line with the prior period. Depreciation and amortization per ounce decreased 9% primarily due to lower stockpile and leach pad inventory adjustments and lower amortization rates. All-in sustaining costs per ounce was in line with prior period.

Merian, Suriname. Gold production was in line with prior period as lower ore grade milled and recovery were offset by higher throughput and a higher drawdown of in-circuit inventory. Cost applicable to sales per ounce increased 15% primarily due to lower ore grade mined and an unfavorable strip ratio. Depreciation and amortization per ounce decreased 11% primarily due to lower amortization rates. All-in sustaining cost per ounce increased 30% primarily due to higher sustaining capital spend and higher costs applicable to sales per ounce sold.

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Australia Operations

	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Three Months Ended June 30,
Gold	(ounces in thousands)		($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
Boddington	197	212	$	736	$	697	$	134	$	147	$	826	$	791
Tanami	102	98		714		592		163		153		925		755
Kalgoorlie	92	91		658		611		66		56		753		667
Total/Weighted-Average (3)	391	401	$	710	$	652	$	128	$	130	$	851	$	782
Copper	(pounds in millions)		($ per pound sold)				($ per pound sold)				($ per pound sold)
Boddington	24	22	$	1.59	$	1.27	$	0.30	$	0.27	$	1.87	$	1.55
Copper	(tonnes in thousands)
Boddington	10	10

	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Six Months Ended June 30,
Gold	(ounces in thousands)		($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
Boddington	360	414	$	765	$	681	$	139	$	144	$	873	$	782
Tanami	218	172		654		621		155		178		828		770
Kalgoorlie	179	175		673		615		67		52		787		684
Total/Weighted-Average (3)	757	761	$	709	$	651	$	130	$	135	$	853	$	779
Copper	(pounds in millions)		($ per pound sold)				($ per pound sold)				($ per pound sold)
Boddington	43	41	$	1.63	$	1.29	$	0.30	$	0.26	$	1.95	$	1.55
Copper	(tonnes in thousands)
Boddington	19	19

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

⁽²⁾ All-In Sustaining Costs is a non-GAAP financial measure. See Non-GAAP Financial Measures beginning on page 68.

⁽³⁾ All-In Sustaining Costs and Depreciation and amortization include expense for other regional projects.

Three months ended June 30, 2018 compared to 2017 

Boddington, Australia. Gold production decreased 7% primarily due to lower ore grade milled and recovery, partially offset by higher mill throughput. Copper production increased 9% primarily due to higher mill throughput and recovery, partially offset by lower ore grade milled. Costs applicable to sales per ounceincreased 6% primarily due to lower production and higher oil prices, partially offset by lower mill maintenance costs and lower co-product allocation of costs to gold.  Costs applicable to sales per pound increased 25% primarily due to higher oil prices and a higher co-product allocation of costs to copper, partially offset by lower mill maintenance costs. Depreciation and amortization per ounce decreased 9% primarily due to lower co-product allocation of costs to gold, partially offset by lower ounces sold.  Depreciation and amortization per pound increased 11% primarily due to a higher co-product allocation of costs to copper. All-in sustaining costs per ounce increased 4% primarily due to higher costs applicable to sales per ounce. All-in sustaining costs per pound increased 21% primarily due to higher costs applicable to sales per pound.

Tanami, Australia. Gold production increased 4% primarily due to higher mill recovery. Costs applicable to sales per ounce increased 21% primarily due to higher mine maintenance costs, higher paste fill activity and higher oil prices, partially offset by higher production.Depreciation and amortization per ounceincreased 7% primarily due to asset additions. All-in sustaining costs per ounce increased 23% primarily due to higher costs applicable to sales per ounce, sustaining capital spend and exploration spend.

Kalgoorlie, Australia. Gold production was in line with the prior period as higher mill throughput, recovery and a lower build up of in-circuit inventory were offset by lower ore grades milled as a result of reduced ore tons mined from the pit due to a failure in the East wall of the pit, leading to the processing of lower-grade stockpiles. Costs applicable to sales per ounce increased 8%

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primarily due to higher mining cost per ton as a result of the failure in the East wall of the pit, higher mill maintenance costs and higher oil prices. Depreciation and amortization per ounce increased 18% primarily due to asset additions and higher amortization rates. All-in sustaining costs per ounce increased 13% primarily due to higher costs applicable to sales per ounce and higher exploration, advanced projects and sustaining capital spend.

Six months ended June 30, 2018 compared to 2017

Boddington, Australia. Gold production decreased 13% primarily due to lower ore grade milled and recovery, partially offset by higher mill throughput. Copper production increased 5% primarily due to higher mill throughput and recovery, partially offset by lower ore grade milled.Costs applicable to sales per ounceincreased 12% primarily due to lower production and higher oil prices, partially offset by a lower co-product allocation of costs to gold.  Costs applicable to sales per pound increased 26% primarily due to higher oil prices and a higher co-product allocation of costs to copper, partially offset by higher production. Depreciation and amortization per ounce was in line with the prior year as a lower co-product allocation of costs to gold was offset by lower ounces sold.  Depreciation and amortization per pound increased 15% primarily due to a higher co-product allocation of costs to copper. All-in sustaining costs per ounce increased 12% primarily due to higher costs applicable to sales per ounce. All-in sustaining costs per pound increased 26% primarily due to higher costs applicable to sales per pound.

Tanami, Australia. Gold production increased 27% primarily due to higher mill throughput, ore grade milled and recovery, partially offset by a build-up of in-circuit inventory, compared to a draw-down in the prior period. Throughput was higher primarily due to the Tanami Expansion project achieving commercial production in the third quarter of 2017, coupled with the mill being placed into care and maintenance for 21 days in early 2017 following record high rainfall that blocked transport routes, limiting access to fuel and other resources. Costs applicable to sales per ounce increased 5% primarily due to higher mine and mill maintenance costs, higher paste fill activity and higher oil prices, partially offset by higher production.Depreciation and amortization per ouncedecreased 13% primarily due to higher ounces sold. All-in sustaining costs per ounce increased 8% primarily due to higher costs applicable to sales per ounce and higher exploration and advanced project spend.

Kalgoorlie, Australia. Gold production was in line with prior period as higher mill throughput, recovery and a lower build up of in-circuit inventory were offset by lower ore grades milled as a result of reduced ore tons mined from the pit due to a failure in the East wall of the pit, leading to the processing of lower-grade stockpiles. Costs applicable to sales per ounce increased 9% primarily due to higher mining costs per ton as a result of the failure in the East wall of the pit, higher mill maintenance and site support costs and higher oil prices, partially offset by higher production. Depreciation and amortization per ounce increased 29% primarily due to asset additions and higher amortization rates. All-in sustaining costs per ounce increased 15% primarily due to higher costs applicable to sales per ounce sold and higher exploration, advanced projects and sustaining capital spend.

Africa Operations

	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Three Months Ended June 30,	(ounces in thousands)		($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
Ahafo	100	88	$	897	$	674	$	283	$	169	$	1,003	$	944
Akyem	100	132		624		557		416		305		794		618
Total / Weighted Average (3)	200	220	$	762	$	605	$	349	$	250	$	942	$	795

	Gold or Copper		Costs Applicable				Depreciation and				All-In Sustaining
	Produced		to Sales (1)				Amortization				Costs (2)
	2018	2017	2018		2017		2018		2017		2018		2017
Six Months Ended June 30,	(ounces in thousands)		($ per ounce sold)				($ per ounce sold)				($ per ounce sold)
Ahafo	203	182	$	882	$	743	$	271	$	208	$	982	$	934
Akyem	206	258		628		523		405		287		789		593
Total / Weighted Average (3)	409	440	$	754	$	615	$	337	$	254	$	923	$	773

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.  

⁽²⁾ All-In Sustaining Costs is a non-GAAP financial measure. See Non-GAAP Financial Measures beginning on page 68.  

⁽³⁾ All-In Sustaining Costs and Depreciation and amortization include expense for other regional projects.

64

Three months ended June 30, 2018 compared to 2017 

Ahafo, Ghana. Gold production increased 14% primarily due to a drawdown of in-circuit inventory, compared to a build-up in the prior period, higher ore grade milled from mining at Subika Underground and higher mill recovery, partially offset by lower mill throughput. Costs applicable to sales per ounce increased 33% primarily due to higher stockpile inventory adjustments and higher oil prices, partially offset by higher ounces sold and lower power costs. Depreciation and amortization per ounce increased 67% primarily due to higher stockpile inventory adjustments and higher amortization rates. All-in sustaining costs per ounce increased 6% primarily due to higher costs applicable to sales per ounce, partially offset by lower sustaining capital, exploration and advanced projects spend.

Akyem, Ghana. Gold production decreased 24% primarily due to lower mill throughput, grade and recovery, in addition to a lower drawdown of in-circuit inventory compared to the prior period. Costs applicable to sales per ounce increased 12% primarily due to lower ounces sold, higher stockpile inventory adjustments and higher oil prices, partially offset by lower power costs. Depreciation and amortization per ounce increased 36% primarily due to lower ounces sold and higher stockpile inventory adjustments. All-in sustaining costs per ounce increased 28% primarily due to higher costs applicable to sales per ounce and higher sustaining capital spend.

Six months ended June 30, 2018 compared to 2017

Ahafo, Ghana. Gold production increased 12% primarily due to higher ore grade milled and recovery, as well as a higher drawdown of in-circuit inventory compared to the prior period, partially offset by lower mill throughput. Costs applicable to sales per ounce increased 19% primarily due to higher stockpile inventory adjustments and higher oil prices, partially offset by higher ounces sold and lower power costs. Depreciation and amortization per ounce increased 30% primarily due to higher stockpile inventory adjustments and higher amortization rates. All-in sustaining costs per ounce increased 5% primarily due to higher costs applicable to sales per ounce, partially offset by lower sustaining capital spend.

Akyem, Ghana. Gold production decreased 20% primarily due to lower mill throughput, grade and recovery. Costs applicable to sales per ounce increased 20% primarily due to lower ounces sold, higher stockpile inventory adjustments and higher oil prices, partially offset by lower power costs. Depreciation and amortization per ounce increased 41% primarily due to lower ounces sold and higher stockpile inventory adjustments. All-in sustaining costs per ounce increased 33% primarily due to higher costs applicable to sales and higher sustaining capital spend.

Foreign Currency Exchange Rates

Our foreign operations sell their gold and copper production based on U.S. dollar metal prices and fluctuations in foreign currency exchange rates do not have a material impact on our revenue since gold and copper are sold throughout the world in U.S. dollars. Despite selling gold in London, we have no exposure to the euro or the British pound.

Foreign currency exchange rates can increase or decrease profits to the extent costs are paid in foreign currencies, including the Australian dollar, Peruvian sol and Suriname dollar. Approximately 34% and 35% of Costs applicable to sales for our foreign operations were paid in currencies other than the U.S. dollar during the three months ended June 30, 2018 and 2017, respectively, including approximately 29% denominated in the Australian dollar in the current year. Approximately 35% and 33% of Costs applicable to sales for our foreign operations were paid in currencies other than the U.S. dollar during the six months ended June 30, 2018 and 2017, respectively, including approximately 29% denominated in the Australian dollar in the current year. Variations in the local currency exchange rates in relation to the U.S. dollar at our foreign mining operations did not have a significant impact on Costs applicable to sales on aper ounce basis, net of hedging losses, during the three and six months ended June 30, 2018, compared to the same periods in 2017.

Our Merian mine is located in the country of Suriname, which has been considered a hyperinflationary environment in recent years with a cumulative inflation rate of over 100% for the last three years. Although we have balances denominated in Surinamese dollars that relate to labor and payroll liabilities, substantially all of Merian’s activity is denominated in U.S. dollars. As a result, our exposure to fluctuations in the Surinamese dollar exchange rate is not significant to Newmont’s financial statements. 

65

Liquidity and Capital Resources 

Liquidity Overview

We have a disciplined cash management strategy of maintaining financial flexibility to execute our capital priorities and provide long-term value to our shareholders. Consistent with that strategy, we aim to self-fund development projects and make strategic partnerships focused on profitable growth, while reducing our debt and returning cash to stockholders through dividends.

At June 30, 2018, the Company had $3,127 in Cash and cash equivalents, of which $821  was held in foreign subsidiaries and is primarily held in U.S. dollar denominated accounts with the remainder in foreign currencies readily convertible to U.S. dollars. At June 30, 2018, $321 of the consolidated cash and cash equivalents was attributable to noncontrolling interests primarily related to our Peru and Suriname operations, which is being held to fund those operations. At June 30, 2018, $722 in consolidated cash and cash equivalents ($412 attributable to Newmont) was held at certain foreign subsidiaries that, if repatriated, may be subject to withholding taxes. We expect that there would be no additional tax burden upon repatriation after considering the cash cost associated with the withholding taxes. We believe that our liquidity and capital resources from U.S. operations are adequate to fund our U.S. operations and corporate activities.

We believe our existing consolidated cash and cash equivalents, available capacity on our revolving credit facility, and cash generated from continuing operations will be adequate to satisfy working capital needs, fund future growth, meet debt obligations, pay dividends and meet other liquidity requirements for the foreseeable future. At June 30, 2018, no borrowings were outstanding under our revolving credit facility.

Our financial position was as follows:

	At June 30,		At December 31,
	2018		2017
Cash and cash equivalents	$	3,127	$	3,259
Debt		4,042		4,040
Leases and other financing obligations		79		25
Net Debt	$	994	$	806
Borrowing capacity on revolving credit facility expiring May 2022	$	2,914	$	2,920

Cash Flows

Our Condensed Consolidated Statements of Cash Flows are summarized as follows:

	June 30,
	2018		2017
Net cash provided by (used in) operating activities of continuing operations	$	667	$	902
Net cash provided by (used in) operating activities of discontinued operations		(5)		(9)
Net cash provided by (used in) operating activities	$	662	$	893
Net cash provided by (used in) investing activities	$	(517)	$	(440)
Net cash provided by (used in) financing activities	$	(231)	$	(107)

Net cash provided by (used in) operating activities of continuing operations was $667 during the six months ended June 30, 2018, a decrease of $235 from the six months ended June 30, 2017, primarily due to lower sales and slightly higher costs, coupled with unfavorable working capital changes including an increase in stockpiles and ore on leach pads and increased tax payments, partially offset by increased collections on accounts receivable and higher realized metal prices.

Net cash provided by (used in) investing activities was $(517) during the six months ended June 30, 2018, an increase in cash used of $77 from the six months ended June 30, 2017, primarily due to higher Additions to property, plant and mine development in 2018 driven by higher capital expenditures on development projects, and mineral interest acquisitions of $39, partially offset by purchases of investments in 2017.

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Net cash provided by (used in) financing activities was $(231) during the six months ended June 30, 2018, an increase in cash used of $124 from the six months ended June 30, 2017, primarily due to higher dividends paid of $150, repurchases of common stock for $70 and higher Payments for withholding of employee taxes related to stock-based compensation of $39, partially offset by proceeds from the sale of noncontrolling interests of $48 and lower net distributions to noncontrolling interests.

Capital Expenditures

Cash generated from operations is used to execute our capital priorities, which include sustaining and developing our global portfolio of long-lived assets. We consider sustaining capital as those capital expenditures that are necessary to maintain current production and execute the current mine plan. Capital expenditures to develop new operations, or related to projects at existing operations where these projects will enhance production or reserves, are considered non-sustaining or development capital.

For the six months ended June 30, 2018 and 2017, we had Additions to property, plant and mine development as follows:

	Six Months Ended June 30,
	2018						2017
	Development		Sustaining				Development		Sustaining
	Projects		Capital		Total		Projects		Capital		Total
North America	$	29	$	128	$	157	$	7	$	134	$	141
South America		52		38		90		30		28		58
Australia		18		69		87		29		63		92
Africa		114		33		147		36		29		65
Corporate and other		—		6		6		1		3		4
Accrual basis	$	213	$	274	$	487	$	103	$	257	$	360
Decrease (increase) in non-cash adjustments						2						3
Cash basis					$	489					$	363

For the six months ended June 30, 2018, development projects included Twin Creeks Underground in North America, Merian and Quecher Main in South America, the Tanami Expansion project in Australia and Subika Underground and the Ahafo Mill Expansion in Africa. For the six months ended June 30, 2017, development projects included Merian in South America, the Tanami Expansion project in Australia and Subika Underground and the Ahafo Mill Expansion in Africa.

For the six months ended June 30, 2018 and 2017, sustaining capital included the following:

· North America. Capital expenditures primarily related to surface and underground mine development, tailings facility construction and capitalized component purchases;

· South America. Capital expenditures primarily related to a tailings facility expansion, capitalized component purchases and infrastructure improvements.

· Australia. Capital expenditures primarily related to equipment and capitalized component purchases, underground mine development and tailings and support facilities.

· Africa. Capital expenditures primarily related to water treatment plant construction, a tailings facility expansion, purchase of mining equipment and capitalized component purchases.

Additionally, in December 2017, the Company began the early phases of the Tanami Power project in Australia which includes the construction of a gas pipeline to the Tanami site, and construction and operation of two on-site power stations under agreements that qualify for build-to-suit lease accounting. As of June 30, 2018, the financing obligations under the build-to-suit arrangements were $71.

Refer to our global project pipeline discussion above for additional details. Refer to Note 3 to our Condensed Consolidated Financial Statements and Part I, Item 2 Non-GAAP Financial Measures All-In Sustaining Costs for further information. 

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Contractual Obligations

There have been no material changes in our contractual obligations since December 31, 2017. Refer to Part II, Item 7 in our annual report on Form 10-K, and revisions filed April 26, 2018 on Form 8-K, for the year ended December 31, 2017, for information regarding our contractual obligations.

Off-Balance Sheet Arrangements

There have been no material changes in our off-balance sheet arrangements since December 31, 2017. Refer to Part II, Item 7 in our annual report on Form 10-K, and revisions filed April 26, 2018 on Form 8-K, for the year ended December 31, 2017, for information regarding our off-balance sheet arrangements.

Environmental 

Our mining and exploration activities are subject to various federal and state laws and regulations governing the protection of the environment. We have made, and expect to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. We perform a comprehensive review of our reclamation and remediation liabilities annually and review changes in facts and circumstances associated with these obligations at least quarterly. As of June 30, 2018, with the exception of an adjustment of $8 to a historical mine site obligation for future water management costs, there have been no material changes to our reclamation and remediation obligation since December 31, 2017. See Note 1 of the Condensed Consolidated Financial Statements for further information.

For a complete discussion of the factors that influence our reclamation obligations and the associated risks, refer to Part II, Item 7, Managements’ Discussion and Analysis of Consolidated Financial Condition and Results of Operations under the headings “Environmental” and “Critical Accounting Policies” and refer to Part I, Item 1A, Risk Factors under the heading “Mine closure, reclamation and remediation costs for environmental liabilities may exceed the provisions we have made” for the year ended December 31, 2017, filed February 22, 2018 on Form 10-K, and revisions filed April 26, 2018 on Form 8-K.

For more information on the Company’s reclamation and remediation liabilities, see Notes 5 and 25 to the Condensed Consolidated Financial Statements.

Accounting Developments 

For a discussion of Recently Adopted and Recently Issued Accounting Pronouncements, see Note 2 to the Condensed Consolidated Financial Statements.

Non-GAAP Financial Measures 

Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by U.S. 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. Unless otherwise noted, we present the Non-GAAP financial measures of our continuing operations in the tables below. For additional information regarding our discontinued operations, see Note 9 to the Condensed Consolidated Financial Statements.

Earnings before interest, taxes and depreciation and amortization and Adjusted earnings before interest, taxes and depreciation and amortization

Management uses Earnings before interest, taxes and depreciation and amortization (“EBITDA”) and EBITDA adjusted for non-core or certain items that have a disproportionate impact on our results for a particular period (“Adjusted EBITDA”) as non-GAAP measures to evaluate the Company’s operating performance. EBITDA and Adjusted EBITDA do not represent, and should not be considered an alternative to, net income (loss), operating income (loss), or cash flow from operations as those terms are defined by GAAP, and do not necessarily indicate whether cash flows will be sufficient to fund cash needs. Although Adjusted EBITDA and similar measures are frequently used as measures of operations and the ability to meet debt service requirements by other companies, our calculation of Adjusted EBITDA is not necessarily comparable to such other similarly titled captions of other companies. The

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Company believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and Board of Directors. Management’s determination of the components of Adjusted EBITDA are evaluated periodically and based, in part, on a review of non-GAAP financial measures used by mining industry analysts. Net income (loss) attributable to Newmont stockholders is reconciled to EBITDA and Adjusted EBITDA as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Net income (loss) attributable to Newmont stockholders	$	292	$	175	$	484	$	222
Net income (loss) attributable to noncontrolling interests		6		(24)		5		(13)
Net loss (income) from discontinued operations (1)		(18)		15		(40)		38
Equity loss (income) of affiliates		7		3		16		5
Income and mining tax expense (benefit)		18		166		123		277
Depreciation and amortization		279		310		580		610
Interest expense, net		49		64		102		131
EBITDA	$	633	$	709	$	1,270	$	1,270
Adjustments:
Loss (gain) on asset and investment sales (2)	$	(100)	$	(14)	$	(99)	$	(16)
Restructuring and other (3)		9		1		15		8
Reclamation and remediation charges (4)		8		—		8		3
Change in fair value of marketable equity securities (5)		(5)		—		(5)		—
Acquisition cost adjustments (6)		—		3		—		5
Impairment of long-lived assets (7)		—		—		—		3
Adjusted EBITDA	$	545	$	699	$	1,189	$	1,273

⁽¹⁾ Net loss (income) from discontinued operations relates to (i) adjustments in our Holt royalty obligation, presented net of tax expense (benefit) of $5, $(8), $9 and $(21), respectively, and (ii) Batu Hijau operations, presented net of tax expense (benefit) of $-, $-, $1, $-, respectively. For additional information regarding our discontinued operations, see Note 9 to our Condensed Consolidated Financial Statements.

⁽²⁾ Loss (gain) on asset and investment sales, included in Other income, net, primarily represents a gain from the exchange of certain royalty interests for cash consideration and an equity ownership and warrants in Maverix in June 2018, and a gain from the exchange of our interest in the Fort á la Corne joint venture for equity ownership in Shore Gold Inc. (“Shore Gold”) in June 2017.

⁽³⁾ Restructuring and other, included in Other expense, net, represents certain costs associated with severance, legal and other settlements.

⁽⁴⁾ Reclamation and remediation charges, included in Reclamation and remediation, represent revisions to remediation plans at the Company’s former historic mining operations.

⁽⁵⁾ Change in fair value of marketable equity securities, included in Other income, net, primarily represents unrealized holding gains and losses on marketable equity securities related primarily to Continental Gold Inc.

⁽⁶⁾ Acquisition cost adjustments, included in Other expense, net, represent net adjustments to the contingent consideration and related liabilities associated with the acquisition of the final 33.33% interest in Boddington in June 2009.

⁽⁷⁾ Impairment of long-lived assets, included in Other expense, net, represents non-cash write-downs of long-lived assets.    

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Adjusted net income (loss)

Management uses Adjusted net income (loss) to evaluate the Company’s operating performance and for planning and forecasting future business operations. The Company believes the use of Adjusted net income (loss) allows investors and analysts to understand the results of the continuing operations of the Company and its direct and indirect subsidiaries relating to the sale of products, by excluding certain items that have a disproportionate impact on our results for a particular period. Adjustments to continuing operations are presented before tax and net of our partners’ noncontrolling interests, when applicable. The tax effect of adjustments is presented in the Tax effect of adjustments line and is calculated using the applicable regional tax rate. Management’s determination of the components of Adjusted net income (loss) are evaluated periodically and based, in part, on a review of non-GAAP financial measures used by mining industry analysts. Net income (loss) attributable to Newmont stockholders is reconciled to Adjusted net income (loss) as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Net income (loss) attributable to Newmont stockholders	$	292	$	175	$	484	$	222
Net loss (income) attributable to Newmont stockholders from discontinued operations (1)		(18)		15		(40)		38
Net income (loss) attributable to Newmont stockholders from continuing operations		274		190		444		260
Loss (gain) on asset and investment sales, net (2)		(99)		(14)		(99)		(16)
Restructuring and other, net (3)		7		1		12		7
Reclamation and remediation charges (4)		8		—		8		3
Change in fair value of marketable equity securities (5)		(5)		—		(5)		—
Acquisition cost adjustments (6)		—		3		—		5
Impairment of long-lived assets, net (7)		—		—		—		2
Tax effect of adjustments (8)		18		3		16		(1)
Valuation allowance and other tax adjustments (9)		(59)		65		(47)		124
Adjusted net income (loss)	$	144	$	248	$	329	$	384
Net income (loss) per share, basic (10)	$	0.55	$	0.33	$	0.91	$	0.42
Net loss (income) attributable to Newmont stockholders from discontinued operations		(0.03)		0.03		(0.07)		0.07
Net income (loss) attributable to Newmont stockholders from continuing operations		0.52		0.36		0.84		0.49
Loss (gain) on asset and investment sales, net		(0.18)		(0.03)		(0.18)		(0.03)
Restructuring and other, net		0.01		—		0.02		0.01
Reclamation and remediation charges		0.01		—		0.01		0.01
Change in fair value of marketable equity securities		(0.01)		—		(0.01)		—
Acquisition cost adjustments		—		0.01		—		0.01
Impairment of long-lived assets, net		—		—		—		—
Tax effect of adjustments		0.03		0.01		0.03		—
Valuation allowance and other tax adjustments		(0.11)		0.11		(0.09)		0.23
Adjusted net income (loss) per share, basic	$	0.27	$	0.46	$	0.62	$	0.72

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	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Net income (loss) per share, diluted (10)	$	0.54	$	0.33	$	0.90	$	0.42
Net loss (income) attributable to Newmont stockholders from discontinued operations		(0.03)		0.03		(0.07)		0.07
Net income (loss) attributable to Newmont stockholders from continuing operations		0.51		0.36		0.83		0.49
Loss (gain) on asset and investment sales, net		(0.18)		(0.03)		(0.18)		(0.03)
Restructuring and other, net		0.01		—		0.02		0.01
Reclamation and remediation charges		0.01		—		0.01		0.01
Change in fair value of marketable equity securities		(0.01)		—		(0.01)		—
Acquisition cost adjustments		—		0.01		—		0.01
Impairment of long-lived assets, net		—		—		—		—
Tax effect of adjustments		0.03		0.01		0.03		—
Valuation allowance and other tax adjustments		(0.11)		0.11		(0.09)		0.23
Adjusted net income (loss) per share, diluted	$	0.26	$	0.46	$	0.61	$	0.72
Weighted average common shares (millions):
Basic		533		533		534		533
Diluted		535		535		535		534

⁽¹⁾ Net loss (income) attributable to Newmont stockholders from discontinued operations relates to (i) adjustments in our Holt royalty obligation, presented net of tax expense (benefit) of $5, $(8), $9 and $(21), respectively, and (ii) Batu Hijau operations, presented net of tax expense (benefit) of $-, $-, $1 and $- respectively. For additional information regarding our discontinued operations, see Note 9 to our Condensed Consolidated Financial Statements.

⁽²⁾ Loss (gain) on asset and investment sales, included in Other income, net, primarily represents a gain from the exchange of certain royalty interests for cash consideration and an equity ownership and warrants in Maverix in June 2018, and a gain from the exchange of our interest in the Fort á la Corne joint venture for equity ownership in Shore Gold in June 2017. Amounts are presented net of income (loss) attributable to noncontrolling interests of $1, $-, $- and $-, respectively.

⁽³⁾ Restructuring and other, included in Other expense, net, primarily represents certain costs associated with severance, legal and other settlements Amounts are presented net of income (loss) attributable to noncontrolling interests of $(2), $-, $(3) and $(1), respectively.

⁽⁴⁾ Reclamation and remediation charges, included in Reclamation and remediation, represent revisions to remediation plans at the Company’s former historic mining operations.

⁽⁵⁾ Change in fair value of marketable equity securities, included in Other income, net,  represents unrealized holding gains and losses on marketable equity securities related primarily to Continental Gold Inc.

⁽⁶⁾ Acquisition cost adjustments, included in Other expense, net, represent net adjustments to the contingent consideration and related liabilities associated with the acquisition of the final 33.33% interest in Boddington in June 2009.

⁽⁷⁾ Impairment of long-lived assets, net, included in Other expense, net, represents non-cash write-downs of long-lived assets. Amounts are presented net of income (loss) attributable to noncontrolling interests of $-, $-, $- and $(1), respectively.

⁽⁸⁾ The tax effect of adjustments, included in Income and mining tax benefit (expense),  represents the tax effect of adjustments in footnotes (2) through (7), as described above, and are calculated using the applicable regional tax rate.

⁽⁹⁾ Valuation allowance and other tax adjustments, included in Income and mining tax benefit (expense), is recorded for items such as foreign tax credits, alternative minimum tax credits, capital losses and disallowed foreign losses. The adjustment in the three and six months ended June 30, 2018 is due to a second quarter reduction to the provisional expense for the Tax Cuts and Jobs Act of ($45), a second quarter release of valuation allowance on capital losses of ($15), increases to net operating losses and other deferred tax assets at Yanacocha of $- and $11 respectively, and other tax adjustments of $1 and $7, respectively. Amounts are presented net of income (loss) attributable to noncontrolling interests of $-, $-, $(5), and $-, respectively. The adjustment in the three and six months ended June 30, 2017 is due to increases in tax credit carryovers of $70 and $139, respectively, partially offset by other tax adjustments of ($5) and ($15), respectively.

⁽¹⁰⁾ Per share measures may not recalculate due to rounding.

Free Cash Flow

Management uses Free Cash Flow as a non-GAAP measure to analyze cash flows generated from operations. Free Cash Flow is Net cash provided by (used in) operating activities  less Net cash provided by (used in) operating activities of discontinued operations less Additions to property, plant and mine development as presented on the Condensed Consolidated Statements of Cash Flows. The Company believes Free Cash Flow is also useful as one of the bases for comparing the Company’s performance with its competitors. Although Free Cash Flow and similar measures are frequently used as measures of cash flows generated from operations by other companies, the Company’s calculation of Free Cash Flow is not necessarily comparable to such other similarly titled captions of other companies.

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The presentation of non-GAAP Free Cash Flow is not meant to be considered in isolation or as an alternative to net income as an indicator of the Company’s performance, or as an alternative to cash flows from operating activities as a measure of liquidity as those terms are defined by GAAP, and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. The Company’s definition of Free Cash Flow is limited in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, the Company believes it is important to view Free Cash Flow as a measure that provides supplemental information to the Company’s Condensed Consolidated Statements of Cash Flows.

The following table sets forth a reconciliation of Free Cash Flow, a non-GAAP financial measure, to Net cash provided by (used in) operating activities, which the Company believes to be the GAAP financial measure most directly comparable to Free Cash Flow, as well as information regarding Net cash provided by (used in) investing activities and Net cash provided by (used in) financing activities.

	Six Months Ended June 30,
	2018		2017
Net cash provided by (used in) operating activities	$	662	$	893
Less: Net cash used in (provided by) operating activities of discontinued operations		5		9
Net cash provided by (used in) operating activities of continuing operations		667		902
Less: Additions to property, plant and mine development		(489)		(363)
Free Cash Flow	$	178	$	539
Net cash provided by (used in) investing activities (1)	$	(517)	$	(440)
Net cash provided by (used in) financing activities	$	(231)	$	(107)

⁽¹⁾ Net cash provided by (used in) investing activities includes Additions to property, plant and mine development, which is included in the Company’s computation of Free Cash Flow.

Costs applicable to sales per ounce/pound

Costs applicable to sales per ounce/pound are non-GAAP financial measures. These measures are calculated by dividing the costs applicable to sales of gold and copper by gold ounces or copper pounds sold, respectively. These measures are calculated for the periods presented on a consolidated basis. Costs applicable to sales 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.

The following tables reconcile these non-GAAP measures to the most directly comparable GAAP measures.

Costs applicable to sales per ounce

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Costs applicable to sales (1)	$	919	$	955	$	1,901	$	1,873
Gold sold (thousand ounces)		1,224		1,439		2,536		2,767
Costs applicable to sales per ounce (2)	$	751	$	664	$	750	$	677

⁽¹⁾ Includes by-product credits of $18 and $31 during the three and six months ended June 30, 2018, respectively, and $16 and $26 during the three and six months ended June 30, 2017, respectively.

⁽²⁾ Per ounce measures may not recalculate due to rounding.

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Costs applicable to sales per pound

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Costs applicable to sales (1)	$	46	$	44	$	93	$	83
Copper sold (million pounds)		27		32		54		58
Costs applicable to sales per pound (2)	$	1.70	$	1.38	$	1.72	$	1.43

⁽¹⁾ Includes by-product credits of $1 and $2 during the three and six months ended June 30, 2018, respectively, and $2 and $3 during the three and six months ended June 30, 2017, respectively.

⁽²⁾ Per pound measures may not recalculate due to rounding.

All-In Sustaining Costs

Newmont has worked to develop a metric that expands on GAAP measures, such as cost of goods sold, and non-GAAP measures, such as Costs applicable to sales per ounce, to provide visibility into the economics of our mining operations related to expenditures, operating performance and the ability to generate cash flow from our continuing operations.

Current GAAP measures used in the mining industry, such as cost of goods sold, do not capture all of the expenditures incurred to discover, develop and sustain production. Therefore, we believe that all-in sustaining costs is a non-GAAP measure that provides additional information to management, investors and analysts that aid in the understanding of the economics of our operations and performance compared to other producers and in the investor’s visibility by better defining the total costs associated with production.

All-in sustaining cost (“AISC”) amounts 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 as a result of differences in the underlying accounting principles, policies applied and in accounting frameworks such as in International Financial Reporting Standards (“IFRS”), or by reflecting the benefit from selling non-gold metals as a reduction to AISC. Differences may also arise related to definitional differences of sustaining versus development capital activities based upon each company’s internal policies.

The following disclosure provides information regarding the adjustments made in determining the all-in sustaining costs measure:

Costs applicable to sales. Includes all direct and indirect costs related to current production incurred to execute the current mine plan. We exclude certain exceptional or unusual amounts from Costs applicable to sales(“CAS”), such as significant revisions to recovery amounts. CAS includes by-product credits from certain metals obtained during the process of extracting and processing the primary ore-body. CAS is accounted for on an accrual basis and excludes Depreciation and amortization and Reclamation and remediation, which is consistent with our presentation of CAS on the Condensed Consolidated Statements of Operations. In determining AISC, only the CAS associated with producing and selling an ounce of gold is included in the measure. Therefore, the amount of gold CAS included in AISC is derived from the CAS presented in the Company’s Condensed Consolidated Statements of Operations less the amount of CAS attributable to the production of copper at our Phoenix and Boddington mines. The copper CAS at those mine sites is disclosed in Note 3 to the Condensed Consolidated Financial Statements. The allocation of CAS between gold and copper at the Phoenix and Boddington mines is based upon the relative sales value of gold and copper produced during the period.

Reclamation costs. Includes accretion expense related to Reclamation liabilities and the amortization of the related Asset Retirement Cost (“ARC”) for the Company’s operating properties. Accretion related to the Reclamation liabilities and the amortization of the ARC assets for reclamation does not reflect annual cash outflows but are calculated in accordance with GAAP. The accretion and amortization reflect the periodic costs of reclamation associated with current production and are therefore included in the measure. The allocation of these costs to gold and copper is determined using the same allocation used in the allocation of CAS between gold and copper at the Phoenix and Boddington mines.

Advanced projects, research and development and exploration. Includes incurred expenses related to projects that are designed to increase or enhance current production and exploration. We note that as current resources are depleted, exploration and advanced

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projects are necessary for us to replace the depleting reserves or enhance the recovery and processing of the current reserves. As this relates to sustaining our production, and is considered a continuing cost of a mining company, these costs are included in the AISC measure. These costs are derived from the Advanced projects, research and development and Exploration amounts presented in the Condensed Consolidated Statements of Operations less the amount attributable to the production of copper at our Phoenix and Boddington mines. The allocation of these costs to gold and copper is determined using the same allocation used in the allocation of CAS between gold and copper at the Phoenix and Boddington mines.

General and administrative. Includes costs related to administrative tasks not directly related to current production, but rather related to support our corporate structure and fulfill our obligations to operate as a public company. Including these expenses in the AISC metric provides visibility of the impact that general and administrative activities have on current operations and profitability on a per ounce basis.

Other expense, net. We exclude certain exceptional or unusual expenses from Other expense, net, such as restructuring, as these are not indicative to sustaining our current operations. Furthermore, this adjustment to Other expense, net is also consistent with the nature of the adjustments made toNet income (loss) attributable to Newmont stockholdersas disclosed in the Company’s non-GAAP financial measure Adjusted net income (loss). The allocation of these costs to gold and copper is determined using the same allocation used in the allocation of CAS between gold and copper at the Phoenix and Boddington mines.

Treatment and refining costs. Includes costs paid to smelters for treatment and refining of our concentrates to produce the salable metal. These costs are presented net as a reduction of Sales on our Condensed Consolidated Statements of Operations.

Sustaining capital. We determined sustaining capital as those capital expenditures that are necessary to maintain current production and execute the current mine plan. Capital expenditures to develop new operations, or related to projects at existing operations where these projects will enhance production or reserves, are generally considered non-sustaining or development capital. We determined the classification of sustaining and development capital projects based on a systematic review of our project portfolio in light of the nature of each project. Sustaining capital costs are relevant to the AISC metric as these are needed to maintain the Company’s current operations and provide improved transparency related to our ability to finance these expenditures from current

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operations. The allocation of these costs to gold and copper is determined using the same allocation used in the allocation of CAS between gold and copper at the Phoenix and Boddington mines.

					Advanced
					Projects,
					Research and						Treatment							All-In
	Costs				Development		General		Other		and				All-In		Ounces	Sustaining
Three Months Ended	Applicable		Reclamation		and		and		Expense,		Refining		Sustaining		Sustaining		(000)/Pounds	Costs per
June 30, 2018	to Sales (1)(2)(3)		Costs (4)		Exploration(5)		Administrative		Net (6)		Costs		Capital (7)		Costs		(millions) Sold	oz/lb (8)
Gold
Carlin	$	178	$	2	$	5	$	1	$	—	$	—	$	42	$	228	187	$	1,217
Phoenix		44		—		1		—		—		2		9		56	53		1,057
Twin Creeks		66		—		3		1		—		—		6		76	86		878
Long Canyon		18		—		—		—		—		—		3		21	43		502
CC&V		42		3		1		1		1		—		9		57	67		857
Other North America		—		—		18		1		1		—		2		22	—		—
North America		348		5		28		4		2		2		71		460	436		1,056
Yanacocha		92		9		10		—		2		—		5		118	113		1,049
Merian		61		1		6		—		—		—		18		86	102		833
Other South America		—		—		10		3		—		—		—		13	—		—
South America		153		10		26		3		2		—		23		217	215		1,005
Boddington		130		4		—		—		—		5		7		146	177		826
Tanami		74		—		3		—		—		—		17		94	103		925
Kalgoorlie		62		1		3		—		—		—		5		71	93		753
Other Australia		—		2		3		3		(2)		—		—		6	—		—
Australia		266		7		9		3		(2)		5		29		317	373		851
Ahafo		90		1		2		1		1		—		6		101	101		1,003
Akyem		62		6		—		—		—		—		10		78	99		794
Other Africa		—		—		7		1		—		—		—		8	—		—
Africa		152		7		9		2		1		—		16		187	200		942
Corporate and Other		—		—		18		51		1		—		2		72	—		—
Total Gold	$	919	$	29	$	90	$	63	$	4	$	7	$	141	$	1,253	1,224	$	1,024
Copper
Phoenix	$	14	$	1	$	—	$	—	$	—	$	1	$	2	$	18	7	$	2.57
Boddington		32		—		—		—		—		2		3		37	20		1.87
Total Copper	$	46	$	1	$	—	$	—	$	—	$	3	$	5	$	55	27	$	2.05
Consolidated	$	965	$	30	$	90	$	63	$	4	$	10	$	146	$	1,308

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

⁽²⁾ Includes by-product credits of $19 and excludes co-product revenues of $81.

⁽³⁾ Includes stockpile and leach pad inventory adjustments of $25 at Carlin, $14 at Twin Creeks, $1 at Yanacocha, $18 at Ahafo and $15 at Akyem.

⁽⁴⁾ Reclamation costs include operating accretion and amortization of asset retirement costs of $15 and $15, respectively, and exclude non-operating accretion and reclamation and remediation adjustments of $11 and $11, respectively.

⁽⁵⁾ Advanced projects, research and development and Explorationof $3 at Carlin, $6 at Long Canyon, $2 at Yanacocha, $1 at Tanami, $2 at Ahafo and $4 at Akyem are recorded in “Other” of the respective region for development projects.

⁽⁶⁾ Other expense, net is adjusted for restructuring and other costs of $9.

⁽⁷⁾ Excludes development capital expenditures, capitalized interest and changes in accrued capital, totaling $112. The following are major development projects: Twin Creeks underground, Quecher Main, Merian, Tanami expansions, Subika and Ahafo mill expansions.

⁽⁸⁾ Per ounce and per pound measures may not recalculate due to rounding.

75

					Advanced
					Projects,
					Research and						Treatment							All-In
	Costs				Development		General		Other		and				All-In		Ounces	Sustaining
Three Months Ended	Applicable		Reclamation		and		and		Expense,		Refining		Sustaining		Sustaining		(000)/Pounds	Costs per
June 30, 2017	to Sales (1)(2)(3)		Costs (4)		Exploration(5)		Administrative		Net (6)		Costs		Capital (7)		Costs		(millions) Sold	oz/lb (8)
Gold
Carlin	$	170	$	2	$	5	$	—	$	—	$	—	$	47	$	224	222	$	1,009
Phoenix		46		2		3		—		—		3		2		56	57		982
Twin Creeks		61		1		2		—		—		—		10		74	124		597
Long Canyon		13		1		—		—		—		—		—		14	45		311
CC&V		74		1		3		1		—		—		4		83	132		629
Other North America		—		—		9		—		2		—		—		11	—		—
North America		364		7		22		1		2		3		63		462	580		797
Yanacocha		134		18		5		1		2		—		9		169	120		1,408
Merian		64		—		4		—		—		—		4		72	120		600
Other South America		—		—		12		3		1		—		—		16	—		—
South America		198		18		21		4		3		—		13		257	240		1,071
Boddington		147		1		1		—		—		5		13		167	211		791
Tanami		58		1		1		—		—		—		14		74	98		755
Kalgoorlie		55		—		1		—		—		—		4		60	90		667
Other Australia		—		—		7		2		—		—		2		11	—		—
Australia		260		2		10		2		—		5		33		312	399		782
Ahafo		60		1		9		—		2		—		12		84	89		944
Akyem		73		3		1		—		—		—		4		81	131		618
Other Africa		—		—		6		4		—		—		—		10	—		—
Africa		133		4		16		4		2		—		16		175	220		795
Corporate and Other		—		—		14		47		3		—		1		65	—		—
Total Gold	$	955	$	31	$	83	$	58	$	10	$	8	$	126	$	1,271	1,439	$	883
Copper
Phoenix	$	16	$	—	$	—	$	—	$	—	$	—	$	4	$	20	10	$	2.00
Boddington		28		1		—		—		—		4		1		34	22		1.55
Total Copper	$	44	$	1	$	—	$	—	$	—	$	4	$	5	$	54	32	$	1.69
Consolidated	$	999	$	32	$	83	$	58	$	10	$	12	$	131	$	1,325

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

⁽²⁾ Includes by-product credits of $18 and exclude co-product revenues of $76.

⁽³⁾ Includes stockpile and leach pad inventory adjustments of $9 at Carlin, $8 at Twin Creeks, $24 at Yanacocha and $5 at Akyem.

⁽⁴⁾ Reclamation costs include operating accretion and amortization of asset retirement costs of $20 and $12, respectively, and exclude non-operating accretion and reclamation and remediation adjustments of $6 and $17, respectively.

⁽⁵⁾ Advanced projects, research and development and Explorationof $5 at Long Canyon, $3 at Yanacocha, $5 at Tanami, $1 at Ahafo and $4 at Akyem are recorded in “Other” of the respective region for development projects.

⁽⁶⁾ Other expense, net is adjusted for restructuring and other costs of $1 and acquisition cost adjustments of $3.

⁽⁷⁾ Excludes development capital expenditures, capitalized interest and changes in accrued capital, totaling $52. The following are major development projects: Merian, Subika underground and the Tanami and Ahafo mill expansions.

⁽⁸⁾ Per ounce and per pound measures may not recalculate due to rounding.

76

					Advanced
					Projects,
					Research and						Treatment							All-In
	Costs				Development		General		Other		and				All-In		Ounces	Sustaining
Six Months Ended	Applicable		Reclamation		and		and		Expense,		Refining		Sustaining		Sustaining		(000)/Pounds	Costs per
June 30, 2018	to Sales (1)(2)(3)		Costs (4)		Exploration(5)		Administrative		Net (6)		Costs		Capital (7)		Costs		(millions) Sold	oz/lb (8)
Gold
Carlin	$	377	$	5	$	9	$	3	$	—	$	—	$	72	$	466	416	$	1,119
Phoenix		106		1		2		1		—		4		14		128	130		983
Twin Creeks		130		1		5		1		1		—		11		149	169		882
Long Canyon		34		1		—		—		—		—		5		40	87		464
CC&V		81		3		3		1		1		—		18		107	129		831
Other North America		—		—		31		1		2		—		4		38	—		—
North America		728		11		50		7		4		4		124		928	931		996
Yanacocha		206		19		16		—		3		—		11		255	220		1,160
Merian		128		1		9		—		—		—		27		165	227		727
Other South America		—		—		21		6		1		—		—		28	—		—
South America		334		20		46		6		4		—		38		448	447		1,002
Boddington		258		6		—		—		—		10		20		294	337		873
Tanami		150		1		8		—		1		—		29		189	229		828
Kalgoorlie		122		2		6		—		—		—		13		143	181		787
Other Australia		—		2		6		5		(3)		—		1		11	—		—
Australia		530		11		20		5		(2)		10		63		637	747		853
Ahafo		180		2		4		1		1		—		13		201	205		982
Akyem		129		12		—		—		1		—		20		162	206		789
Other Africa		—		—		13		3		—		—		—		16	—		—
Africa		309		14		17		4		2		—		33		379	411		923
Corporate and Other		—		—		31		100		1		—		6		138	—		—
Total Gold	$	1,901	$	56	$	164	$	122	$	9	$	14	$	264	$	2,530	2,536	$	998
Copper
Phoenix	$	30	$	1	$	—	$	—	$	—	$	1	$	4	$	36	15		2.35
Boddington		63		1		—		—		—		5		6		75	39		1.95
Total Copper	$	93	$	2	$	—	$	—	$	—	$	6	$	10	$	111	54	$	2.06
Consolidated	$	1,994	$	58	$	164	$	122	$	9	$	20	$	274	$	2,641

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

⁽²⁾ Includes by-product credits of $33 and excludes co-product copper revenues of $159.

⁽³⁾ Includes stockpile and leach pad inventory adjustments of $46 at Carlin, $26 at Twin Creeks, $19 at Yanacocha, $33 at Ahafo and $28 at Akyem.

⁽⁴⁾ Reclamation costs include operating accretion and amortization of asset retirement costs of $30 and $28, respectively, and exclude non-operating accretion and reclamation and remediation adjustments of $21 and $14, respectively.

⁽⁵⁾ Advanced projects, research and development and Exploration of $6 at Carlin, $12 at Long Canyon, $6 at Yanacocha, $2 at Tanami, $4 at Ahafo and $7 at Akyem are recorded in “Other” of the respective region for development projects.

⁽⁶⁾ Other expense, net is adjusted for restructuring and other costs of $15.

⁽⁷⁾ Excludes development capital expenditures, capitalized interest and changes in accrued capital, totaling $215. The following are major development projects: Twin Creeks underground, Quecher Main, Merian, Tanami expansions, Subika and Ahafo mill expansions.

⁽⁸⁾ Per ounce and per pound measures may not recalculate due to rounding.

77

					Advanced
					Projects,
					Research and						Treatment							All-In
	Costs				Development		General		Other		and				All-In		Ounces	Sustaining
Six Months Ended	Applicable		Reclamation		and		and		Expense,		Refining		Sustaining		Sustaining		(000)/Pounds	Costs per
June 30, 2017	to Sales (1)(2)(3)		Costs (4)		Exploration(5)		Administrative		Net (6)		Costs		Capital (7)		Costs		(millions) Sold	oz/lb (8)
Gold
Carlin	$	378	$	3	$	8	$	1	$	—	$	—	$	95	$	485	439	$	1,105
Phoenix		90		3		4		—		—		6		6		109	103		1,058
Twin Creeks		111		2		4		1		—		—		17		135	208		649
Long Canyon		25		1		—		—		—		—		1		27	77		351
CC&V		149		2		7		1		—		—		8		167	260		642
Other North America		—		—		17		—		3		—		2		22	—		—
North America		753		11		40		3		3		6		129		945	1,087		869
Yanacocha		253		31		7		2		3		—		20		316	268		1,179
Merian		112		—		8		—		—		—		8		128	228		561
Other South America		—		—		24		6		1		—		—		31	—		—
South America		365		31		39		8		4		—		28		475	496		958
Boddington		269		3		1		—		1		9		26		309	395		782
Tanami		108		1		1		—		—		—		24		134	174		770
Kalgoorlie		107		1		3		—		—		—		8		119	174		684
Other Australia		—		—		11		4		—		—		2		17	—		—
Australia		484		5		16		4		1		9		60		579	743		779
Ahafo		136		3		11		—		2		—		19		171	183		934
Akyem		135		6		1		—		1		—		10		153	258		593
Other Africa		—		—		12		5		—		—		—		17	—		—
Africa		271		9		24		5		3		—		29		341	441		773
Corporate and Other		—		—		26		93		4		—		3		126	—		—
Total Gold	$	1,873	$	56	$	145	$	113	$	15	$	15	$	249	$	2,466	2,767	$	891
Copper
Phoenix	$	34	$	1	$	—	$	—	$	—	$	1	$	5	$	41	20	$	2.05
Boddington		49		1		—		—		—		6		3		59	38		1.55
Total Copper	$	83	$	2	$	—	$	—	$	—	$	7	$	8	$	100	58	$	1.72
Consolidated	$	1,956	$	58	$	145	$	113	$	15	$	22	$	257	$	2,566

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

⁽²⁾ Includes by-product credits of $29 and excludes co-product revenues of $147.

⁽³⁾ Includes stockpile and leach pad inventory adjustments of $27 at Carlin, $11 at Twin Creeks, $30 at Yanacocha, $13 at Ahafo and $5 at Akyem.

⁽⁴⁾ Reclamation costs include operating accretion and amortization of asset retirement costs of $40 and $18, respectively, and exclude non-operating accretion and reclamation and remediation adjustments of $10 and $22, respectively.

⁽⁵⁾ Advanced projects, research and development and Explorationof $10 at Long Canyon, $5 at Yanacocha, $8 at Tanami, $5 at Ahafo and $5 at Akyem are recorded in “Other” of the respective region for development projects.

⁽⁶⁾ Other expense, net is adjusted for restructuring and other costs of $8, acquisition cost adjustments of $5 and impairment of long-lived assets of $3.

⁽⁷⁾ Excludes development capital expenditures, capitalized interest and changes in accrued capital, totaling $106. The following are major development projects: Merian, Long Canyon, Tanami expansions, Subika underground and Ahafo mill expansion.  

⁽⁸⁾ Per ounce and per pound measures may not recalculate due to rounding.

Safe Harbor Statement 

Certain statements contained in this report (including information incorporated by reference herein) are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are intended to be covered by the safe harbor provided for under these sections. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)”, “estimate(s)”, “should”, “intend(s)” and similar expressions are intended to identify forward-looking statements. Our forward-looking statements may include, without limitation:

· estimates regarding future earnings and the sensitivity of earnings to gold, copper and other metal prices;

· estimates of future mineral production and sales;

· estimates of future production costs, other expenses and taxes for specific operations and on a consolidated basis;

· estimates of future cash flows and the sensitivity of cash flows to gold and other metal prices;

78

· estimates of future capital expenditures, construction, production or closure activities and other cash needs, for specific operations and on a consolidated basis, and expectations as to the funding or timing thereof; 

· estimates as to the projected development of certain ore deposits, including the timing of such development, the costs of such development and other capital costs, financing plans for these deposits and expected production commencement dates;

· estimates of reserves and statements regarding future exploration results and reserve replacement and the sensitivity of reserves to metal price changes;

· statements regarding the availability of, and terms and costs related to, future borrowing or financing and expectations regarding future debt repayments or debt tender transactions;  

· estimates regarding future exploration expenditures, results and reserves;

· statements regarding fluctuations in financial and currency markets;

· estimates regarding potential cost savings, productivity, operating performance and ownership and cost structures;

· expectations regarding statements regarding future transactions, including, without limitation, statements related to future acquisitions and projected benefits, synergies and costs associated with acquisitions and related matters;

· expectations regarding the start-up time, design, mine life, production and costs applicable to sales and exploration potential of our projects;

· statements regarding future hedge and derivative positions or modifications thereto;

· statements regarding political, economic or governmental conditions and environments;

· statements regarding the impacts of changes in the legal and regulatory environment in which we operate;

· estimates of future costs, accruals for reclamation costs and other liabilities for certain environmental matters, including without limitation with respect to our Yanacocha operation;

· estimates of income taxes and expectations relating to tax contingencies or tax audits; and

· estimates of pension and other post-retirement costs.

Where we express 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, our 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 those forward-looking statements. Such risks include, but are not limited to: 

· the price of gold, copper and other metal prices and commodities;

· the cost of operations;

· currency fluctuations;

· geological and metallurgical assumptions;

· operating performance of equipment, processes and facilities;

· labor relations; 

· timing of receipt of necessary governmental permits or approvals;

· domestic and foreign laws or regulations, particularly relating to the environment, mining and processing;

· changes in tax laws;

· domestic and international economic and political conditions;

· our ability to obtain or maintain necessary financing; and

· other risks and hazards associated with mining operations.

More detailed information regarding these factors is included in the section titled Item 1, Business; Item 1A, Risk Factors in the Annual Report on Form 10-K for the year ended December 31, 2017 filed February 22, 2018 and elsewhere throughout this report. Many of these factors are beyond our ability to control or predict. Given these uncertainties, readers are cautioned not to place undue reliance on our forward-looking statements.

All subsequent written and oral forward-looking statements attributable to Newmont or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. We disclaim any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

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ITEM 3.       QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK (dollars in millions, except per ounce and per pound amounts).

Metal Prices

Changes in the market price of gold significantly affect our profitability and cash flow. Gold prices can fluctuate widely due to numerous factors, such as demand; forward selling by producers; central bank sales, purchases and lending; investor sentiment; the strength of the U.S. dollar; inflation, deflation, or other general price instability and global mine production levels. Changes in the market price of copper also affect our profitability and cash flow. Copper is traded on established international exchanges and copper prices generally reflect market supply and demand, but can also be influenced by speculative trading in the commodity or by currency exchange rates.

Decreases in the market price of gold and copper can also significantly affect the value of our product inventory, stockpiles and leach pads, and it may be necessary to record a write-down to the net realizable value. Net realizable value represents the estimated future sales price based on short-term and long-term metals prices, less estimated costs to complete production and bring the product to sale. The primary factors that influence the need to record write-downs of our stockpiles, leach pads and product inventory include short-term and long-term metals prices and costs for production inputs such as labor, fuel and energy, materials and supplies as well as realized ore grades and recovery rates. The significant assumptions in determining the stockpile, leach pad and product inventory adjustments for each mine site reporting unit at June 30, 2018 included production cost and capitalized expenditure assumptions unique to each operation, a short-term and long-term gold price of $1,306 and $1,300 per ounce, respectively, a short-term and long-term copper price of $3.12 and $3.00 per pound, respectively, and a short-term and long-term U.S. to Australian dollar exchange rate of $0.76 and $0.80, respectively.

The net realizable value measurement involves the use of estimates and assumptions unique to each mining operation regarding current and future operating and capital costs, metal recoveries, production levels, commodity prices, proven and probable reserve quantities, engineering data and other factors. A high degree of judgment is involved in determining such assumptions and estimates and no assurance can be given that actual results will not differ significantly from those estimates and assumptions.

Hedging

Our strategy is to provide shareholders with leverage to changes in gold and copper prices by selling our production at spot market prices. Consequently, we do not hedge our gold and copper sales. We have and may continue to manage certain risks associated with commodity input costs, interest rates and foreign currencies using the derivative market.

By using hedges, we are affected by credit risk, market risk and market liquidity risk. Credit risk is the risk that a third party might fail to fulfill its performance obligations under the terms of a financial instrument. We mitigate credit risk by entering into derivatives with high credit quality counterparties, limiting the amount of exposure to each counterparty and monitoring the financial condition of the counterparties. Market risk is the risk that the fair value of a derivative might be adversely affected by a change in underlying commodity prices, interest rates or currency exchange rates, and that this in turn affects our financial condition. We manage market risk by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken. We mitigate this potential risk to our financial condition by establishing trading agreements with counterparties under which we are not required to post any collateral or be subject to any margin calls on our derivatives. Our counterparties cannot require settlement solely because of an adverse change in the fair value of a derivative. Market liquidity risk is the risk that a derivative cannot be eliminated quickly, by either liquidating it or by establishing an offsetting position. Under the terms of our trading agreements, counterparties cannot require us to immediately settle outstanding derivatives, except upon the occurrence of customary events of default such as covenant breaches, including financial covenants, insolvency or bankruptcy. We further mitigate market liquidity risk by spreading out the maturity of our derivatives over time.

Cash Flow Hedges

The diesel derivative and foreign currency contracts are designated as cash flow hedges, and as such, the effective portion of unrealized changes in market value have been recorded in Accumulated other comprehensive income (loss) and are reclassified to income during the period in which the hedged transaction affects earnings.

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Diesel Price Risk

We had the following diesel derivative contracts outstanding at June 30, 2018:

	Expected Maturity Date
					Total/
	2018	2019	2020	2021	Average
Diesel Fixed Forward Contracts:
North America
Diesel gallons (millions)	7	3	3	1	14
Average rate ($/gallon)	1.68	1.78	1.97	2.04	1.79
South America
Diesel gallons (millions)	—	—	2	—	2
Average rate ($/gallon)	—	—	1.88	1.99	1.89
Australia
Diesel barrels (thousands)	—	12	73	17	102
Average rate ($/barrel)	—	85.93	77.06	79.69	78.54

The fair value of the diesel derivative contracts was a net asset position of $7 at June 30, 2018 and $6 at December 31, 2017.

Foreign Currency Exchange Risk

The fair value of A$ foreign currency derivative contracts was a net liability position of $1 at December 31, 2017.

Commodity Price Exposure

Our provisional gold and copper sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the gold and copper concentrates at the prevailing indices’ prices at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to final settlement.

At June 30, 2018, Newmont had gold sales of 78,000 ounces priced at an average of $1,251 per ounce, subject to final pricing over the next several months. Each $25 change in the price for provisionally priced gold sales would have an approximate $1 effect on our Net income (loss) attributable to Newmont stockholders. The London Bullion Market Association P.M. closing settlement price at June 30, 2018 for gold was $1,250 per ounce.

At June 30, 2018, Newmont had copper sales of 13 million pounds priced at an average of $3.01 per pound, subject to final pricing over the next several months. Each $0.10 change in the price for provisionally priced copper sales would have an approximate $1 effect on our Net income (loss) attributable to Newmont stockholders. The LME closing settlement price at June 30, 2018 for copper was $3.02 per pound.

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ITEM 4.       CONTROLS AND PROCEDURES. 

During the fiscal period covered by this report, the Company’s management, with the participation of the Chief Executive Officer and Chief Financial Officer of the Company, carried out an evaluation of the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). Based on such evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the period covered by this report, the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the required time periods and are designed to ensure that information required to be disclosed in its reports is accumulated and communicated to the Company’s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

There were no changes in the Company’s internal control over financial reporting that occurred during the three months ended June 30, 2018, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II—OTHER INFORMATION

ITEM 1.       LEGAL PROCEEDINGS. 

Information regarding legal proceedings is contained in Note 25 to the Condensed Consolidated Financial Statements contained in this Report and is incorporated herein by reference.

ITEM 1A.     RISK FACTORS.

There were no material changes to the risk factors disclosed in Item 1, Business; Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the SEC on February 22, 2018.

ITEM 2.       UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

	(a)	(b)		(c)	(d)
				Total Number of	Maximum Number (or
	Total			Shares Purchased	Approximate Dollar Value)
	Number	Average		as Part of	of Shares that may
	of Shares	Price Paid		Publicly Announced	yet be Purchased
Period	Purchased(1)	Per Share(1)		Plans or Programs(2)	under the Plans or Programs(2)
April 1, 2018 through April 30, 2018	3,481	$	40.22	—	$	26,030,716
May 1, 2018 through May 31, 2018	161,205	$	39.66	159,840	$	19,691,707
June 1, 2018 through June 30, 2018	154	$	40.05	—	$	19,691,707

⁽¹⁾ The total number of shares purchased (and the average price paid per share) reflects: (i) shares purchased pursuant to the repurchase program described in (2) below; and (ii) represents shares delivered to the Company from stock awards held by employees upon vesting for the purpose of covering the recipients’ tax withholding obligations, totaling 3,481 shares, 1,365 shares and 154 shares for the fiscal months of April, May and June 2018, respectively.

⁽²⁾ On February 20, 2018, the Company’s Board of Directors authorized a new stock repurchase program, under which the Company was authorized to repurchase shares of outstanding common stock to offset the dilutive impact of employee stock award vesting in the current year, provided that the aggregate value of shares of common stock repurchased does not exceed $90 million, and no shares of common stock may be repurchased under the program after December 31, 2018. The Company repurchased 159,840 shares in the second quarter under the repurchase program, representing an aggregate value of $6, and such shares were then retired. To the extent, additional employee stock award vesting occurs later in the year in connection with retirements, terminations or previously scheduled vestings, the Company intends to use the repurchase program exclusively to offset dilution, subject to the limitations set forth above. The repurchase program may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock. The extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including trading volume, market conditions, legal requirements, business conditions and other factors.

ITEM 3.       DEFAULTS UPON SENIOR SECURITIES. 

None.

ITEM 4.       MINE SAFETY DISCLOSURES. 

At Newmont, safety is a core value. No work-related fatalities occurred at any Newmont site or facility in 2017 or the first quarter of 2018. However, a tragic event occurred in April 2018, which resulted in the death of six contractors who were working on the construction of a structure at the Ahafo Mill Expansion project in Ghana. We deeply grieve these losses along with families, friends, colleagues and the entire Newmont family. Newmont Ghana has fully cooperated with the Government of Ghana’s Minerals Commission to support their investigation of the accident. We are committed to honoring our obligations and working closely with the Minerals Commission to develop detailed action plans to address their investigation report’s findings and to integrate lessons across its business. This tragic accident stands as a sobering reminder that we must forever remain vigilant in continually improving our safety culture. It is with great humility and resolve that we renew our commitment to making sure our people go home safe every day. 

Our health and safety management system, which includes detailed standards and procedures for safe production, addresses topics such as employee training, risk management, workplace inspection, emergency response, accident investigation and program auditing. In addition to strong leadership and involvement from all levels of the organization, these programs and procedures form the

83

cornerstone of safety at Newmont, ensuring that employees are provided a safe and healthy environment and are intended to reduce workplace accidents, incidents and losses, comply with all mining-related regulations and provide support for both regulators and the industry to improve mine safety.

In addition, we have established our “Rapid Response” process to mitigate and prevent the escalation of adverse consequences if existing risk management controls fail, particularly if an incident may have the potential to seriously impact the safety of employees, the community or the environment. This process provides appropriate support to an affected site to complement their technical response to an incident, so as to reduce the impact by considering the environmental, strategic, legal, financial and public image aspects of the incident, to ensure communications are being carried out in accordance with legal and ethical requirements and to identify actions in addition to those addressing the immediate hazards.

The operation of our U.S. based mines is subject to regulation by the Federal Mine Safety and Health Administration (“MSHA”) under the Federal Mine Safety and Health Act of 1977 (the “Mine Act”). MSHA inspects our mines on a regular basis and issues various citations and orders when it believes a violation has occurred under the Mine Act. Following passage of The Mine Improvement and New Emergency Response Act of 2006, MSHA significantly increased the numbers of citations and orders charged against mining operations. The dollar penalties assessed for citations issued has also increased in recent years.

Newmont is required to report certain mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K, and that required information is included in Exhibit 95 and is incorporated by reference into this Quarterly Report. The fatalities in Ghana are not represented in Exhibit 95 due to the fact that our operations in Ghana are not regulated by MSHA.

ITEM 5.       OTHER INFORMATION. 

None.

ITEM 6.       EXHIBITS. 

Exhibit Number		Description
12.1	-	Computation of Ratio of Earnings to Fixed Charges, filed herewith.
31.1	-	Certification Pursuant to Rule 13A-14 or 15-D-14 of the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 signed by the Principal Executive Officer, filed herewith.
31.2	-	Certification Pursuant to Rule 13A-14 or 15-D-14 of the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 signed by the Principal Financial Officer, filed herewith.
32.1	-	Statement Required by 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed by the Principal Executive Officer, furnished herewith.
32.2	-	Statement Required by 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed by the Principal Financial Officer, furnished herewith.
95	-	Information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, filed herewith.
101	-	101.INS	XBRL Instance
		101.SCH	XBRL Taxonomy Extension Schema
		101.CAL	XBRL Taxonomy Extension Calculation
		101.DEF	XBRL Taxonomy Extension Definition
		101.LAB	XBRL Taxonomy Extension Labels
		101.PRE	XBRL Taxonomy Extension Presentation

84

SIGNATURES 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	NEWMONT  MINING  CORPORATION
	(Registrant)
Date: July 26, 2018	/s/ NANCY K. BUESE
	Nancy K. Buese
	Executive Vice President and Chief Financial Officer
	(Principal Financial Officer)
Date: July 26, 2018	/s/ JOHN W. KITLEN
	John W. Kitlen
	Vice President, Controller and Chief Accounting Officer
	(Principal Accounting Officer)

85

EX-12.1

Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in millions, except ratio)

	Six Months Ended
	June 30,
	2018
Income before income and mining tax and other items (1)	$	588
Adjustments:
Fixed charges excluding capitalized interest		109
Earnings available for fixed charges	$	697
Fixed Charges:
Interest expense, net (2)	$	102
Portion of rental expense representative of interest		7
Fixed charges added to earnings		109
Capitalized interest		18
Total Fixed Charges	$	127
Ratio of earnings to fixed charges		5.49

(1) Represents amount from continuing operations.

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

EX-31.1

Exhibit 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

(Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002)

I, Gary J. Goldberg, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Newmont Mining Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ GARY J. GOLDBERG

Gary J. Goldberg

Chief Executive Officer

(Principal Executive Officer)

July 26, 2018

EX-31.2

Exhibit 31.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

(Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002)

I, Nancy K. Buese, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Newmont Mining Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ NANCY K. BUESE

Nancy K. Buese

Chief Financial Officer

(Principal Financial Officer)

July 26, 2018

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

(Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002)

In connection with the Quarterly Report on Form 10-Q for the quarter ended June 30, 2018 of Newmont Mining Corporation (the “Company”) as filed with the Securities and Exchange Commission on the date hereof (the “Report”) and pursuant to 18. U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, I, Gary J. Goldberg, Chief Executive Officer of the Company, certify, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ GARY J. GOLDBERG

Gary J. Goldberg

Chief Executive Officer

(Principal Executive Officer)

July 26, 2018

Note: A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

(Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002)

In connection with the Quarterly Report on Form 10-Q for the quarter ended June 30, 2018 of Newmont Mining Corporation (the “Company”) as filed with the Securities and Exchange Commission on the date hereof (the “Report”) and pursuant to 18. U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, I, Nancy K. Buese, Chief Financial Officer of the Company, certify, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ NANCY K. BUESE

Nancy K. Buese

Chief Financial Officer

(Principal Financial Officer)

July 26, 2018

Note: A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-95

Exhibit 95

Mine Safety Disclosure

The following disclosures are provided pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”) and Item 104 of Regulation S-K, which require certain disclosures by companies required to file periodic reports under the Securities Exchange Act of 1934, as amended, that operate mines regulated under the Federal Mine Safety and Health Act of 1977 (the “Mine Act”). The disclosures reflect our U.S. mining operations only as the requirements of the Act and Item 104 of Regulation S-K do not apply to our mines operated outside the United States.

Mine Safety Information. Whenever the Federal Mine Safety and Health Administration (“MSHA”) believes a violation of the Mine Act, any health or safety standard or any regulation has occurred, it may issue a citation which describes the alleged violation and fixes a time within which the U.S. mining operator (e.g. our subsidiary, Newmont USA Limited) must abate the alleged violation. In some situations, such as when MSHA believes that conditions pose a hazard to miners, MSHA may issue an order removing miners from the area of the mine affected by the condition until the alleged hazards are corrected. When MSHA issues a citation or order, it generally proposes a civil penalty, or fine, as a result of the alleged violation, that the operator is ordered to pay. Citations and orders can be contested and appealed, and as part of that process, are often reduced in severity and amount, and are sometimes dismissed. The number of citations, orders and proposed assessments vary depending on the size and type (underground or surface) of the mine as well as by the MSHA inspector(s) assigned.

The below table reflects citations and orders issued to us by MSHA during the quarter ended June 30, 2018. The proposed assessments for the quarter ended June 30, 2018 were taken from the MSHA data retrieval system as of July 9, 2018.

Additional information about the Act and MSHA references used in the table follows.

· Section 104(a) S&S Citations: Citations received from MSHA under section 104(a) of the Mine Act for violations of mandatory health or safety standards that could significantly and substantially contribute to the cause and effect of a mine safety or health hazard.

· Section 104(b) Orders: Orders issued by MSHA under section 104(b) of the Mine Act, which represents a failure to abate a citation under section 104(a) within the period of time prescribed by MSHA. This results in an order of immediate withdrawal from the area of the mine affected by the condition until MSHA determines that the violation has been abated.

· Section 104(d) S&S Citations and Orders: Citations and orders issued by MSHA under section 104(d) of the Mine Act for unwarrantable failure to comply with mandatory, significant and substantial health or safety standards.

· Section 110(b)(2) Violations: Flagrant violations issued by MSHA under section 110(b)(2) of the Mine Act.

· Section 107(a) Orders: Orders issued by MSHA under section 107(a) of the Mine Act for situations in which MSHA determined an “imminent danger” (as defined by MSHA) existed.

			Section
			104(d) S&S			($ in millions)
	Section	Section	Citations	Section	Section	Proposed
	104(a) S&S	104(b)	and	110(b)	107(a)	MSHA
Mine (1)	Citations (2)	Orders	Orders (2)	Violations	Orders	Assessments (3)		Fatalities
Chukar	—	—	—	—	—	$	—	—
Cripple Creek & Victor	—	—	—	—	—	$	—	—
Emigrant	1	—	—	—	—	$	—	—
Exodus	—	—	—	—	—	$	—	—
Genesis	—	—	—	—	—	$	—	—
Leeville	5	—	—	—	—	$	<0.1	—
Lone Tree	—	—	—	—	—	$	—	—
Long Canyon	—	—	—	—	—	$	—	—
Mill 6	—	—	—	—	—	$	—	—
Pete Bajo	—	—	—	—	—	$	—	—
Phoenix	—	—	—	—	—	$	—	—
South Area	1	—	—	—	—	$	<0.1	—
Twin Creeks	—	—	—	—	—	$	—	—
Twin Underground(4)	—	—	—	—	—	$	—	—
TOTAL	7	—	—	—	—	$	<0.1	—

(1) The definition of a mine under section 3 of the Mine Act includes the mine, as well as other items used in, or to be used in, or resulting from, the work of extracting minerals, such as land, structures, facilities, equipment, machines, tools, and minerals

preparation facilities. Unless otherwise indicated, any of these other items associated with a single mine have been aggregated in the totals for that mine. MSHA assigns an identification number to each mine and may or may not assign separate identification numbers to related facilities such as preparation facilities. We are providing the information in the table by mine rather than MSHA identification number because that is how we manage and operate our mining business and we believe this presentation will be more useful to investors than providing information based on MSHA identification numbers.

(2) 7 Section 104(a) S&S Citations and 0 Section 104(d) S&S Citations and Orders were subject to contest as of June 30, 2018.

(3) Represents the total dollar value of the proposed assessment from MSHA under the Mine Act pursuant to the citations and or orders preceding such dollar value in the corresponding row. No proposed assessments of the orders or citations listed above had yet been posted to the MSHA data retrieval system or made available to the Company by MSHA as of July 9, 2018. Proposed assessments aggregate to $3,842 for the quarter, with proposed assessments at Emigrant of not yet assessed, at Leeville of $3,380, and at South Area of $462.

(4) Formerly Vista.

Pattern or Potential Pattern of Violations. During the quarter ended June 30, 2018, none of the mines operated by us received written notice from MSHA of (a) a pattern of violations of mandatory health or safety standards that are of such nature as could have significantly and substantially contributed to the cause and effect of mine health or safety hazards under section 104(e) of the Mine Act or (b) the potential to have such a pattern.

Pending Legal Actions. The following table reflects pending legal actions before the Federal Mine Safety and Health Review Commission (the “Commission”), an independent adjudicative agency that provides administrative trial and appellate review of legal disputes arising under the Mine Act, as of June 30, 2018, together with the number of legal actions instituted and the number of legal actions resolved as of June 30, 2018.

		Legal Actions	Legal Actions
	Pending Legal	Instituted during	Resolved during
	Actions as of	the quarter ended	the quarter ended
Mine (1)	June 30, 2018 (2)	June 30, 2018	June 30, 2018
Chukar	—	—	—
Cripple Creek & Victor	2	2	—
Emigrant	—	—	—
Exodus	—	—	—
Genesis	—	—	—
Leeville	1	1	3
Lone Tree	—	—	—
Long Canyon	—	—	—
Mill 6	—	—	—
Pete Bajo	—	—	—
Phoenix	—	—	—
South Area	—	—	—
Twin Creeks	—	—	—
Twin Underground	—	—	—
TOTAL	3	3	3

(1) The definition of a mine under section 3 of the Mine Act includes the mine, as well as other items used in, or to be used in, or resulting from, the work of extracting minerals, such as land, structures, facilities, equipment, machines, tools and minerals preparation facilities. Unless otherwise indicated, any of these other items associated with a single mine have been aggregated in the totals for that mine. MSHA assigns an identification number to each mine and may or may not assign separate identification numbers to related facilities such as preparation facilities. We are providing the information in the table by mine rather than MSHA identification number because that is how we manage and operate our mining business and we believe this presentation will be more useful to investors than providing information based on MSHA identification numbers.

(2) The foregoing list includes legal actions which were initiated prior to the current reporting period and which do not necessarily relate to citations, orders or proposed assessments issued by MSHA during the quarter ended June 30, 2018. The number of legal actions noted above are reported on a per docket basis.

Legal actions pending before the Commission may involve, among other questions, challenges by operators to citations, orders and penalties they have received from MSHA or complaints of discrimination by miners under section 105 of the Mine Act. The following is a brief description of the types of legal actions that may be brought before the Commission.

· Contests of Citations and Orders: A contest proceeding may be filed with the Commission by operators, miners or miners’ representatives to challenge the issuance of a citation or order issued by MSHA.

· Contests of Proposed Penalties (Petitions for Assessment of Penalties): A contest of a proposed penalty is an administrative proceeding before the Commission challenging a civil penalty that MSHA has proposed for the alleged violation contained in a citation or order. The validity of the citation may also be challenged in this proceeding as well.

· Complaints for Compensation: A complaint for compensation may be filed with the Commission by miners entitled to compensation when a mine is closed by certain withdrawal orders issued by MSHA. The purpose of the proceeding is to determine the amount of compensation, if any, due miners idled by the orders.

· Complaints of Discharge, Discrimination or Interference: A discrimination proceeding is a case that involves a miner’s allegation that he or she has suffered a wrong by the operator because he or she engaged in some type of activity protected under the Mine Act, such as making a safety complaint.

· Applications for Temporary Relief: An application for temporary relief from any modification or termination of any order or from any order issued under section 104 of the Mine Act.

· Appeals of Judges’ Decisions or Orders to the Commission: A filing with the Commission of a petition for discretionary review of a Judge’s decision or order by a person who has been adversely affected or aggrieved by such decision or order.

The following table reflects the types of legal actions pending before the Commission as of June 30, 2018.

						Appeals of
				Complaints of		Judges'
	Contests of	Contests of		Discharge,	Applications	Decisions or
	Citations and	Proposed	Complaints for	Discrimination or	for Temporary	Orders to the
Mine (1)	Orders	Penalties (2)	Compensation	Interference	Relief	Commission
Chukar	—	—	—	—	—	—
Cripple Creek & Victor	—	2	—	—	—	—
Emigrant	—	—	—	—	—	—
Exodus	—	—	—	—	—	—
Genesis	—	—	—	—	—	—
Leeville	—	1	—	—	—	—
Lone Tree	—	—	—	—	—	—
Long Canyon	—	—	—	—	—	—
Mill 6	—	—	—	—	—	—
Pete Bajo	—	—	—	—	—	—
Phoenix	—	—	—	—	—	—
South Area	—	—	—	—	—	—
Twin Creeks	—	—	—	—	—	—
Twin Underground	—	—	—	—	—	—
TOTAL	—	3	—	—	—	—

(1) The definition of a mine under section 3 of the Mine Act includes the mine, as well as other items used in, or to be used in, or resulting from, the work of extracting minerals, such as land, structures, facilities, equipment, machines, tools and minerals preparation facilities. Unless otherwise indicated, any of these other items associated with a single mine have been aggregated in the totals for that mine. MSHA assigns an identification number to each mine and may or may not assign separate identification numbers to related facilities such as preparation facilities. We are providing the information in the table by mine rather than MSHA identification number because that is how we manage and operate our mining business and we believe this presentation will be more useful to investors than providing information based on MSHA identification numbers.

(2) The number of contests of proposed penalties noted above is reported on a per docket basis. If presented on a per citation basis the number of contests of proposed penalties would be Cripple Creek & Victor: 8; and Leeville: 9.

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Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 19, 2018
Document And Entity Information
Entity Registrant Name	NEWMONT MINING CORP /DE/
Entity Central Index Key	0001164727
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		533,398,733

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Sales (Note 4)		$ 1,662	$ 1,875	$ 3,479	$ 3,565
Costs and expenses
Costs applicable to sales (1)	[1]	965	999	1,994	1,956
Depreciation and amortization		279	310	580	610
Reclamation and remediation (Note 5)		37	43	65	72
Exploration		54	51	94	87
Advanced projects, research and development		36	32	70	58
General and administrative		63	58	122	113
Other expense, net (Note 6)		13	14	24	31
Total costs and expenses		1,447	1,507	2,949	2,927
Other income (expense):
Other income, net (Note 7)		139	31	160	22
Interest expense, net of capitalized interest		(49)	(64)	(102)	(131)
Total other income (expense)		90	(33)	58	(109)
Income (loss) before income and mining tax and other items		305	335	588	529
Income and mining tax benefit (expense) (Note 8)		(18)	(166)	(123)	(277)
Equity income (loss) of affiliates		(7)	(3)	(16)	(5)
Net income (loss) from continuing operations		280	166	449	247
Net income (loss) from discontinued operations (Note 9)		18	(15)	40	(38)
Net income (loss)		298	151	489	209
Net loss (income) attributable to noncontrolling interests (Note 10)		(6)	24	(5)	13
Net income (loss) attributable to Newmont stockholders		292	175	484	222
Net income (loss) attributable to Newmont stockholders:
Continuing operations		274	190	444	260
Discontinued operations		18	(15)	40	(38)
Net income (loss) attributable to Newmont stockholders		$ 292	$ 175	$ 484	$ 222
Net income (loss) per common share, Basic (Note 11):
Continuing operations (in dollars per share)		$ 0.52	$ 0.36	$ 0.84	$ 0.49
Discontinued operations (in dollars per share)		0.03	(0.03)	0.07	(0.07)
Net income (loss) per common share, basic (in dollars per share)		0.55	0.33	0.91	0.42
Net income (loss) per common share, Diluted (Note 11)
Continuing operations (in dollars per share)		0.51	0.36	0.83	0.49
Discontinued operations (in dollars per share)		0.03	(0.03)	0.07	(0.07)
Net income (loss) per common share, diluted (in dollars per share)		0.54	0.33	0.90	0.42
Cash dividends declared per common share		$ 0.14	$ 0.05	$ 0.28	$ 0.10

[1] Excludes Depreciation and amortization and Reclamation and remediation.

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ 298	$ 151	$ 489	$ 209
Other comprehensive income (loss):
Change in marketable securities, net of tax of $-, $-, $- and $-, respectively	(1)	(4)	1	(11)
Foreign currency translation adjustments	(1)		(4)	4
Change in pension and other post-retirement benefits, net of tax of $(2), $(1), $(3) and $(5), respectively	4	3	9	9
Change in fair value of cash flow hedge instruments, net of tax of $(2), $(3), $(3) and $(7), respectively	5	5	9	14
Other comprehensive income (loss)	7	4	15	16
Comprehensive income (loss)	305	155	504	225
Comprehensive income (loss) attributable to:
Comprehensive income (loss) attributable to Newmont stockholders	299	179	499	238
Noncontrolling interests	6	(24)	5	(13)
Comprehensive income (loss)	$ 305	$ 155	$ 504	$ 225

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parentheticals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Unrealized gain (loss) on marketable securities, tax
Change in pension and other post-retirement benefits, tax	(2)	(1)	(3)	(5)
Change in fair value of cash flow hedge instruments, tax	$ (2)	$ (3)	$ (3)	$ (7)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating activities:
Net income (loss)	$ 489	$ 209
Adjustments:
Depreciation and amortization	580	610
Stock-based compensation (Note 13)	38	35
Reclamation and remediation	61	68
Loss (income) from discontinued operations (Note 9)	(40)	38
Deferred income taxes	(19)	76
Gain on asset and investment sales, net	(99)	(16)
Write-downs of inventory and stockpiles and ore on leach pads	158	92
Other operating adjustments	9	58
Net change in operating assets and liabilities (Note 23)	(510)	(268)
Net cash provided by (used in) operating activities of continuing operations	667	902
Net cash provided by (used in) operating activities of discontinued operations (1)	(5)	(9)
Net cash provided by (used in) operating activities	662	893
Investing activities:
Additions to property, plant and mine development	(489)	(363)
Acquisitions, net	(39)
Proceeds from sales of investments	15	19
Purchases of investments	(6)	(113)
Other	2	17
Net cash provided by (used in) investing activities	(517)	(440)
Financing activities:
Dividends paid to common stockholders	(150)	(54)
Repurchase of common stock	(70)
Distributions to noncontrolling interests	(69)	(80)
Funding from noncontrolling interests	52	46
Proceeds from sale of noncontrolling interests	48
Payments for withholding of employee taxes related to stock-based compensation	(39)	(13)
Other	(3)	(6)
Net cash provided by (used in) financing activities	(231)	(107)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2)	2
Net change in cash, cash equivalents and restricted cash	(88)	348
Cash, cash equivalents and restricted cash at beginning of period	3,298	2,782
Cash, cash equivalents and restricted cash at end of period	3,210	3,130
Discontinued operations disposed of by sale
Adjustments:
Loss (income) from discontinued operations (Note 9)	(40)	38
Holt Royalty obligation | Holloway Mining Company | Discontinued operations disposed of by sale
Adjustments:
Loss (income) from discontinued operations (Note 9)	(36)	38
Net cash provided by (used in) operating activities of discontinued operations (1)	$ (5)	(6)
Batu Hijau share sale and purchase agreement | PTNNT | Discontinued operations disposed of by sale
Adjustments:
Net cash provided by (used in) operating activities of discontinued operations (1)		$ (3)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$ 3,127	$ 3,259	$ 3,105
Restricted cash included in Other current	$ 1		$ 2
Location of current restricted cash	us-gaap:OtherAssetsCurrent		us-gaap:OtherAssetsCurrent
Restricted cash included in Other noncurrent	$ 82		$ 23
Location of noncurrent restricted cash	us-gaap:OtherAssetsNoncurrent		us-gaap:OtherAssetsNoncurrent
Total cash, cash equivalents and restricted cash	$ 3,210	$ 3,298	$ 3,130	$ 2,782

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 3,127	$ 3,259
Trade receivables (Note 4)	133	124
Other accounts receivables	101	113
Investments (Note 16)	56	62
Inventories (Note 17)	697	679
Stockpiles and ore on leach pads (Note 18)	711	676
Other current assets	142	153
Current assets	4,967	5,066
Property, plant and mine development, net	12,351	12,338
Investments (Note 16)	353	280
Stockpiles and ore on leach pads (Note 18)	1,837	1,848
Deferred income tax assets	537	549
Other non-current assets	610	565
Total assets	20,655	20,646
LIABILITIES
Lease and other financing obligations, current (Note 20)	13	4
Accounts payable	360	375
Employee-related benefits	240	309
Income and mining taxes payable	71	248
Other current liabilities (Note 21)	396	462
Current liabilities	1,080	1,398
Debt (Note 19)	4,042	4,040
Lease and other financing obligations, noncurrent (Note 20)	66	21
Reclamation and remediation liabilities (Note 5)	2,369	2,345
Deferred income tax liabilities	589	595
Employee-related benefits	392	386
Other non-current liabilities (Note 21)	284	342
Total liabilities	8,822	9,127
Contingently redeemable noncontrolling interest (Note 10)	48
EQUITY
Common stock	857	855
Treasury stock	(69)	(30)
Additional paid-in capital	9,595	9,592
Accumulated other comprehensive income (loss) (Note 22)	(162)	(292)
Retained earnings	592	410
Newmont stockholders' equity	10,813	10,535
Noncontrolling interests	972	984
Total equity	11,785	11,519
Total liabilities and equity	$ 20,655	$ 20,646

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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Millions, $ in Millions	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interests	Total
Changes in Equity
Cumulative-effect adjustment of adopting ASU No. 2016-01 | ASU No. 2016-01				$ 115	$ (115)
Sale of noncontrolling interest							$ 48
Contingently redeemable noncontrolling interest, Balance at end of period at Jun. 30, 2018							48
Balance at beginning of period at Dec. 31, 2017	$ 855	$ (30)	$ 9,592	(292)	410	$ 984	11,519
Balance at beginning of period, shares at Dec. 31, 2017	534.0	(1.0)
Changes in Equity
Net income (loss)					484	5	489
Other comprehensive income (loss)				15			15
Dividends declared					(150)		(150)
Distributions declared to noncontrolling interests						(69)	(69)
Cash calls requested from noncontrolling interests						52	52
Repurchase and retirement of common stock	$ (3)		(30)		(37)		$ (70)
Repurchase and retirement of common stock (in shares)	(2.0)						(1.9)
Withholding of employee taxes related to stock-based compensation		$ (39)					$ (39)
Withholding of employee taxes related to stock-based compensation (in shares)		(1.0)					1.0
Stock-based awards and related share issuances	$ 5		33				$ 38
Stock-based awards and related share issuances, shares	3.0
Balance at end of period at Jun. 30, 2018	$ 857	$ (69)	$ 9,595	$ (162)	$ 592	$ 972	$ 11,785
Balance at end of period, shares at Jun. 30, 2018	535.0	(2.0)

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BASIS OF PRESENTATION

6 Months Ended

Jun. 30, 2018

BASIS OF PRESENTATION

BASIS OF PRESENTATION

NOTE 1     BASIS OF PRESENTATION

The interim Condensed Consolidated Financial Statements (“interim statements”) of Newmont Mining Corporation and its subsidiaries (collectively, “Newmont” or the “Company”) are unaudited. In the opinion of management, all adjustments (including normal recurring adjustments) and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year. These interim statements should be read in conjunction with Newmont’s Consolidated Financial Statements for the year ended December 31, 2017 filed on February 22, 2018 on Form 10-K and revisions filed April 26, 2018 on Form 8-K. The year-end balance sheet data was derived from the audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by United States (“U.S.”) generally accepted accounting principles (“GAAP”) have been condensed or omitted. References to “A$” refers to Australian currency and “C$” refers to Canadian currency.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Risks and Uncertainties

As a global mining company, the Company’s revenue, profitability and future rate of growth are substantially dependent on prevailing prices for gold and copper. Historically, the commodity markets have been very volatile, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and on the quantities of reserves that the Company can economically produce. The carrying value of the Company’s Property, plant and mine development,  net;Inventories;Stockpiles and ore on leach pads and Deferred income tax assets are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. The Company must make these estimates and assumptions because certain information used is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. Actual results could differ from these estimates.

Contingently Redeemable Noncontrolling Interest

Certain noncontrolling interests in consolidated entities meet the definition of redeemable financial instruments if the ability to redeem the interest is outside of the control of the consolidating entity. In such cases, these financial instruments are required to be classified outside of permanent equity (referred to as temporary equity).

Revenue Recognition

The Company adopted ASC 606, Revenue from contracts with customers, on January 1, 2018. Changes to the accounting policy as a result of adoption are discussed below. 

Newmont generates revenue by selling gold and copper produced from its mining operations. Refer to Note 3 for further information regarding the Company’s operating segments.

The majority of the Company’s Sales come from the sale of refined gold; however, the end product at the Company’s gold operations is generally doré bars. Doré is an alloy consisting primarily of gold but also containing silver and other metals. Doré is sent to refiners to produce bullion that meets the required market standard of 99.95% gold. Under the terms of the Company’s refining agreements, the doré bars are refined for a fee, and the Company’s share of the refined gold and the separately-recovered silver is credited to its bullion account. Gold from doré bars credited to its bullion account is typically sold to banks or refiners.

A portion of gold sold from Boddington and Kalgoorlie in Australia, Phoenix in Nevada and CC&V in Colorado is sold in the form of concentrate which includes copper and silver. The Company’s Sales also come from the sale of copper. Copper sales are generally in the form of concentrate, which is sold to smelters for further treatment and refining, and cathode. Copper sold from Boddington in Australia is sold in concentrate form and copper sold from Phoenix in Nevada is sold in either concentrate or cathode form.

Generally, if a metal expected to be mined represents more than 10 to 20% of the life of mine sales value of all the metal expected to be mined, co-product accounting should apply. When the Company applies co-product accounting at an operation, revenue is recognized for each co-product metal sold, and shared costs applicable to sales are allocated based on the relative sales values of the co-product metals produced. Generally, if metal expected to be mined is less than the 10 to 20% of the life of mine sales value, by-product accounting should apply. Revenues from by-product sales, which are immaterial, are credited to Costs applicable to sales as a by-product credit. Copper is produced as a co-product at Phoenix and Boddington. Copper and silver is produced as a by-product at certain of the Company’s other operations.

Gold Sales from Doré Production

The Company recognizes revenue for gold from doré production when it satisfies the performance obligation of transferring gold inventory to the customer, which generally occurs upon transfer of gold bullion credits as this is the point at which the customer obtains the ability to direct the use and obtain substantially all of the remaining benefits of ownership of the asset.

The Company generally recognizes the sale of gold bullion credits at the prevailing market price when gold bullion credits are delivered to the customer. The transaction price is determined based on the agreed upon market price and the number of ounces delivered. Payment is due upon delivery of gold bullion credits to the customer’s account.

Gold and Copper Sales from Concentrate Production

The Company recognizes revenue for gold and copper from concentrate production, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer. This generally occurs as material passes over the vessel's rail at the port of loading based on the date from the bill of lading, as the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the material and the customer has the risk of loss. Newmont has elected to account for shipping and handling costs for concentrate contracts as fulfillment activities and not as promised goods or services; therefore these activities are not considered separate performance obligations.

The Company generally sells gold and copper concentrate based on the future monthly average market price for a future month, dependent on the relevant contract, following the month in which the delivery to the customer takes place. The amount of revenue recognized for concentrates is initially recorded on a provisional basis based on the forward prices for the estimated month of settlement and the Company’s estimated metal quantities based on assay data. The Company’s sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward price at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through Sales each period prior to final settlement. The Company also adjusts estimated metal quantities used in computing provisional sales using new information and assay data from the smelter as it is received (if any).

A provisional payment is generally due upon delivery of the concentrate to the customer. Final payment is due upon final settlement of price and quantity with the customer.

The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations and updated quantities between the date the sale is recorded and the date of final settlement. If a significant decline in metal prices occurs, or assay data results in a significant change in quantity between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the provisional payment received on the sale.

Copper Sales from Cathode Production

The Company recognizes revenue for copper from cathode production when it transfers control of copper cathode to the customer, which occurs when the material is picked up by the carrier. The Company generally sells copper cathode based on the weekly average market price for the week following production. The transaction price is determined based on this agreed upon price and the number of pounds delivered. Payment is due upon final settlement of price and quantity with the customer. 

Recently Adopted Accounting Pronouncements

Revenue Recognition

In May 2014, ASU No. 2014-09 was issued related to revenue from contracts with customers. This ASU was further amended in August 2015, March 2016, April 2016, May 2016, December 2016 and September 2017 by ASU No. 2015-14, No. 2016-08, No. 2016-10, No. 2016-12, No. 2016-20 and No. 2017-13, respectively. The new standard provides a five-step approach to be applied to all contracts with customers and also requires expanded disclosures about revenue recognition.

The company retrospectively adopted this standard as of January 1, 2018. As there were no contracts outstanding as of December 31, 2017, there was no cumulative effect adjustment required to be recognized at January 1, 2018. The comparative information has not been adjusted and continues to be reported under the accounting standards in effect for those periods.

The adoption of this standard primarily impacts the timing of revenue recognition on certain concentrate contracts based on the Company’s determination of when control is transferred. Revenue related to concentrate shipments is now generally recognized upon completion of loading the material for shipment to the customer and satisfaction of the Company’s significant performance obligation. Prior to the adoption of this standard, revenue was recognized for these contracts when the price was determinable, the concentrate had been loaded on a vessel or received by the customer, risk and title had been transferred and collection of the sales price was reasonably assured.

Investments

In January 2016, ASU No. 2016-01 was issued related to financial instruments. This ASU was further amended in February 2018 by ASU No. 2018-03. The new guidance requires entities to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income. This new guidance also updates certain disclosure requirements for these investments. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017, and upon adoption, an entity should apply the amendments with the cumulative effect of initially applying the guidance recognized at January 1, 2018. The Company adopted this standard as of January 1, 2018. Upon adoption, the Company reclassified $115 of unrealized holding gains and losses and deferred income taxes related to investments in marketable equity securities from Accumulated other comprehensive income (loss) to Retained earnings in the Consolidated Balance Sheets.

Statement of Cash Flows

In August 2016, ASU No. 2016-15 was issued related to the statement of cash flows. This new guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017. The Company adopted the guidance as of January 1, 2018. Upon adoption, the Company reclassified $6 for the six months ended June 30, 2017 of Acquisitions, net previously reported as a cash outflow from investing activities, to operating activities on the Consolidated Statements of Cash Flows related to contingent consideration payments.

Intra-Entity Transfers

In October 2016, ASU No. 2016-16 was issued related to the intra-entity transfers of assets other than inventory. This new guidance requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017. The Company adopted this guidance as of January 1, 2018, and determined it had no impact on the Consolidated Financial Statements or disclosures.

Restricted Cash

In November 2016, ASU No. 2016-18 was issued related to the inclusion of restricted cash in the statement of cash flows. This new guidance requires that a statement of cash flows present the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017, and early adoption is permitted. The Company retrospectively adopted this guidance as of December 31, 2017. Upon adoption, the Company included a reconciliation of Cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total shown in the Consolidated Statements of Cash Flows. Adoption of this guidance had no other impact on the Consolidated Financial Statements or disclosures.

Employee Benefits

In March 2017, ASU No. 2017-07 was issued related to the presentation of net periodic pension and postretirement cost. The new guidance requires the service cost component of net benefit costs to be classified similar to other compensation costs arising from services rendered by employees. Other components of net benefit costs are required to be classified separately from the service cost and outside income from operations. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance resulted in the recognition of other components of net benefit costs within Other income, net rather than Costs applicable to sales or General and administrative and is no longer included in costs that benefit the inventory or production process. Adoption of this guidance did not have a material impact on the Consolidated Financial Statements or disclosures.

Hedging

In August 2017, ASU No. 2017-12 was issued related to hedge accounting. The new guidance expands the ability to hedge nonfinancial risk components, eliminates the current requirement to separately measure and report hedge ineffectiveness, and requires the entire change in fair value of a hedging instrument to be presented in the same income statement line as the hedged item, when reclassified from Accumulated other comprehensive income (loss). The guidance also eases certain hedge effectiveness documentation and assessment requirements. This update is effective in fiscal years, including interim periods, beginning after December 15, 2018, and early adoption is permitted. The Company adopted this guidance as of January 1, 2018, and there was no material impact on the Consolidated Financial Statements or disclosures as a result of adoption.

Recently Issued Accounting Pronouncements

Leases

In February 2016, ASU No. 2016-02 was issued related to leases, which was further amended in September 2017 by ASU No. 2017-13, in January 2018 by ASU No. 2018-01 and in July 2018 by ASU No. 2018-10. The new guidance modifies the classification criteria and requires lessees to recognize right-of-use assets and lease liabilities arising from most leases on the balance sheet with additional disclosures about leasing arrangements. This update is effective in fiscal years, including interim periods, beginning after December 15, 2018, and early adoption is permitted. The Company anticipates adopting the new guidance as of January 1, 2019.

The Company has begun its assessment of the new guidance and the impact it will have on the Consolidated Financial Statements and disclosures, and expects to complete its analysis in 2018. To date, the Company has formed a cross-functional implementation team; commenced a completeness assessment over the lease population; begun the evaluation of the various practical expedients and policy elections that will be adopted; started to establish new policies, procedures and internal controls related to the new standard; and commenced the review of contracts that are expected to be outstanding as of the adoption date.

Management is still completing its assessment of the impacts; however, based on the procedures performed, management has identified certain service contracts that contain embedded leases under the revised guidance. The Company expects that the adoption of the new standard will gross up the Consolidated Balance Sheets with the recognition of right-of-use assets and lease liabilities related to operating leases. The Company does not expect there will be a material impact to the Consolidated Statements of Operations and the Consolidated Statements of Cash Flows. The Company is in the process of assessing the required disclosures of the new standard, and expects to provide additional qualitative and quantitative disclosures related to leasing arrangements upon adoption.

Other Comprehensive Income Reclassifications Related to Tax Reform

In February 2018, ASU 2018-02 was issued allowing companies the option to reclassify to retained earnings the tax effects related to items in Accumulated other comprehensive income (loss) as a result of the Tax Cuts and Jobs Act (the “Act”) that was enacted on December 22, 2017. This update is effective in fiscal years, including interim periods, beginning after December 15, 2018, and early adoption is permitted. This guidance should be applied either in the period of adoption or retrospectively to each period in which the effects of the change in the U.S. federal income tax rate in the Act is recognized. The Company is still completing its assessment of the impacts and anticipated adoption date of this guidance.

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SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2018

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 3     SEGMENT INFORMATION

The Company has organized its operations into four geographic regions. The geographic regions include North America, South America, Australia and Africa and represent the Company’s operating segments. The results of these operating segments are reviewed by the Company’s chief operating decision maker to make decisions about resources to be allocated to the segments and assess their performance. As a result, these operating segments represent the Company’s reportable segments. Notwithstanding this structure, the Company internally reports information on a mine-by-mine basis for each mining operation and has chosen to disclose this information on the following tables. Income (loss) before income and mining tax and other items from reportable segments does not reflect general corporate expenses, interest (except project-specific interest) or income and mining taxes. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. Newmont’s business activities that are not considered operating segments are included in Corporate and Other. Although they are not required to be included in this footnote, they are provided for reconciliation purposes.

Unless otherwise noted, the Company presents only the reportable segments of its continuing operations in the tables below. The financial information relating to the Company’s segments is as follows:

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Three Months Ended June 30, 2018
Carlin	$	244	$	178	$	43	$	8	$	13	$	42
Phoenix:
Gold		63		44		10
Copper		21		14		4
Total Phoenix		84		58		14		1		10		11
Twin Creeks		114		66		16		3		33		22
Long Canyon		56		18		19		6		11		2
CC&V		88		42		14		1		25		9
Other North America		—		—		1		9		(9)		2
North America		586		362		107		28		83		88
Yanacocha		147		92		22		12		(3)		24
Merian		132		61		20		6		46		27
Other South America		—		—		4		8		(13)		1
South America		279		153		46		26		30		52
Boddington:
Gold		220		130		24
Copper		60		32		6
Total Boddington		280		162		30		—		92		10
Tanami		134		74		16		4		43		26
Kalgoorlie		122		62		6		3		53		5
Other Australia		—		—		2		2		(2)		—
Australia		536		298		54		9		186		41
Ahafo		132		90		29		4		6		64
Akyem		129		62		41		4		21		11
Other Africa		—		—		—		1		(3)		—
Africa		261		152		70		9		24		75
Corporate and Other		—		—		2		18		(18)		2
Consolidated	$	1,662	$	965	$	279	$	90	$	305	$	258

⁽¹⁾ Consolidated capital expenditures on a cash basis were $258.  

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Three Months Ended June 30, 2017
Carlin	$	279	$	170	$	46	$	5	$	55	$	48
Phoenix:
Gold		67		46		12
Copper		24		16		4
Total Phoenix		91		62		16		3		9		4
Twin Creeks		156		61		17		2		72		9
Long Canyon		57		13		18		5		21		3
CC&V		166		74		33		3		53		4
Other North America		—		—		1		4		(5)		1
North America		749		380		131		22		205		69
Yanacocha		149		134		34		8		(59)		9
Merian		150		64		26		4		54		22
Other South America		—		—		3		9		(16)		—
South America		299		198		63		21		(21)		31
Boddington:
Gold		262		147		31
Copper		52		28		6
Total Boddington		314		175		37		1		94		14
Tanami		123		58		15		6		55		28
Kalgoorlie		113		55		5		1		52		4
Other Australia		—		—		1		2		(5)		2
Australia		550		288		58		10		196		48
Ahafo		112		60		15		10		25		36
Akyem		165		73		40		5		45		6
Other Africa		—		—		—		1		(4)		—
Africa		277		133		55		16		66		42
Corporate and Other		—		—		3		14		(111)		2
Consolidated	$	1,875	$	999	$	310	$	83	$	335	$	192

⁽¹⁾ Includes an increase in accrued capital expenditures of $9; consolidated capital expenditures on a cash basis were $183.

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Six Months Ended June 30, 2018
Carlin	$	548	$	377	$	95	$	15	$	55	$	72
Phoenix:
Gold		163		106		25
Copper		47		30		8
Total Phoenix		210		136		33		2		36		18
Twin Creeks		224		130		31		5		64		40
Long Canyon		115		34		38		12		30		5
CC&V		171		81		29		3		51		18
Other North America		—		—		1		13		(15)		4
North America		1,268		758		227		50		221		157
Yanacocha		290		206		52		22		(31)		40
Merian		298		128		42		9		120		49
Other South America		—		—		7		15		(29)		1
South America		588		334		101		46		60		90
Boddington:
Gold		430		258		47
Copper		112		63		12
Total Boddington		542		321		59		—		166		26
Tanami		301		150		35		10		110		47
Kalgoorlie		239		122		12		6		101		13
Other Australia		—		—		3		4		(4)		1
Australia		1,082		593		109		20		373		87
Ahafo		270		180		55		8		22		126
Akyem		271		129		83		7		45		21
Other Africa		—		—		—		2		(5)		—
Africa		541		309		138		17		62		147
Corporate and Other		—		—		5		31		(128)		6
Consolidated	$	3,479	$	1,994	$	580	$	164	$	588	$	487

⁽¹⁾ Includes a decrease in accrued capital expenditures of $2; consolidated capital expenditures on a cash basis were $489.

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Six Months Ended June 30, 2017
Carlin	$	543	$	378	$	99	$	8	$	54	$	96
Phoenix:
Gold		121		90		23
Copper		50		34		9
Total Phoenix		171		124		32		4		7		10
Twin Creeks		258		111		31		4		107		17
Long Canyon		96		25		31		10		30		7
CC&V		322		149		65		7		99		8
Other North America		—		—		1		7		(10)		3
North America		1,390		787		259		40		287		141
Yanacocha		328		253		70		12		(50)		20
Merian		283		112		47		8		114		38
Other South America		—		—		7		19		(35)		—
South America		611		365		124		39		29		58
Boddington:
Gold		490		269		57
Copper		97		49		10
Total Boddington		587		318		67		1		180		29
Tanami		215		108		31		9		75		52
Kalgoorlie		217		107		9		3		95		8
Other Australia		—		—		3		3		(20)		3
Australia		1,019		533		110		16		330		92
Ahafo		226		136		38		16		34		53
Akyem		319		135		74		6		100		12
Other Africa		—		—		—		2		(5)		—
Africa		545		271		112		24		129		65
Corporate and Other		—		—		5		26		(246)		4
Consolidated	$	3,565	$	1,956	$	610	$	145	$	529	$	360

⁽¹⁾ Includes a decrease in accrued capital expenditures of $3; consolidated capital expenditures on a cash basis were $363.

XML

SALES

6 Months Ended

Jun. 30, 2018

SALES

Sales

NOTE 4     SALES

The following table presents the Company’s Sales by mining operation, product and inventory type:

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Three Months Ended June 30, 2018
Carlin	$	244	$	—	$	—	$	—	$	244
Phoenix		30		33		9		12		84
Twin Creeks		114		—		—		—		114
Long Canyon		56		—		—		—		56
CC&V		88		—		—		—		88
North America		532		33		9		12		586
Yanacocha		147		—		—		—		147
Merian		132		—		—		—		132
South America		279		—		—		—		279
Boddington		64		156		60		—		280
Tanami		134		—		—		—		134
Kalgoorlie		122		—		—		—		122
Australia		320		156		60		—		536
Ahafo		132		—		—		—		132
Akyem		129		—		—		—		129
Africa		261		—		—		—		261
Consolidated	$	1,392	$	189	$	69	$	12	$	1,662

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Three Months Ended June 30, 2017
Carlin	$	279	$	—	$	—	$	—	$	279
Phoenix		30		37		12		12		91
Twin Creeks		156		—		—		—		156
Long Canyon		57		—		—		—		57
CC&V		161		5		—		—		166
North America		683		42		12		12		749
Yanacocha		149		—		—		—		149
Merian		150		—		—		—		150
South America		299		—		—		—		299
Boddington		64		198		52		—		314
Tanami		123		—		—		—		123
Kalgoorlie		113		—		—		—		113
Australia		300		198		52		—		550
Ahafo		112		—		—		—		112
Akyem		165		—		—		—		165
Africa		277		—		—		—		277
Consolidated	$	1,559	$	240	$	64	$	12	$	1,875

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Six Months Ended June 30, 2018
Carlin	$	548	$	—	$	—	$	—	$	548
Phoenix		71		92		21		26		210
Twin Creeks		224		—		—		—		224
Long Canyon		115		—		—		—		115
CC&V		171		—		—		—		171
North America		1,129		92		21		26		1,268
Yanacocha		290		—		—		—		290
Merian		298		—		—		—		298
South America		588		—		—		—		588
Boddington		123		307		112		—		542
Tanami		301		—		—		—		301
Kalgoorlie		239		—		—		—		239
Australia		663		307		112		—		1,082
Ahafo		270		—		—		—		270
Akyem		271		—		—		—		271
Africa		541		—		—		—		541
Consolidated	$	2,921	$	399	$	133	$	26	$	3,479

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Six Months Ended June 30, 2017
Carlin	$	543	$	—	$	—	$	—	$	543
Phoenix		54		67		27		23		171
Twin Creeks		258		—		—		—		258
Long Canyon		96		—		—		—		96
CC&V		311		11		—		—		322
North America		1,262		78		27		23		1,390
Yanacocha		328		—		—		—		328
Merian		283		—		—		—		283
South America		611		—		—		—		611
Boddington		123		367		97		—		587
Tanami		215		—		—		—		215
Kalgoorlie		217		—		—		—		217
Australia		555		367		97		—		1,019
Ahafo		226		—		—		—		226
Akyem		319		—		—		—		319
Africa		545		—		—		—		545
Consolidated	$	2,973	$	445	$	124	$	23	$	3,565

The following table details the receivables included within Trade receivables:

	At June 30,		At December 31,
	2018		2017
Receivables from Sales:
Gold sales from doré	$	36	$	—
Gold and copper sales from concentrate production		96		117
Copper sales from cathode production		1		7
Total receivables from Sales	$	133	$	124

The impact to Sales from revenue initially recognized in previous periods due to the changes in the final pricing and changes in quantities resulting from assays is an increase (decrease) of $(1) and $(1), respectively, for the three months ended June 30, 2018 and an increase (decrease) of $1 and $(6), respectively, for the three months ended June 30, 2017.  

The impact to Sales from revenue initially recognized in previous periods due to the changes in the final pricing and changes in quantities resulting from assays is an increase (decrease) of $(3) and $1, respectively, for the six months ended June 30, 2018 and an increase (decrease) of $11 and $2, respectively, for the six months ended June 30, 2017.  

The following tables summarize the impacts of adopting this standard on the Company’s Condensed Consolidated Financial Statements for the three and six months ended June 30, 2018:

	Three Months Ended June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Statement of Operations	As Reported		Change		of ASC 606
Sales	$	1,662	$	89	$	1,751
Costs applicable to sales	$	965	$	54	$	1,019
Depreciation and amortization	$	279	$	12	$	291
Income (loss) before income and mining tax and other items	$	305	$	23	$	328
Income and mining tax benefit (expense)	$	(18)	$	(6)	$	(24)
Net income (loss)	$	298	$	17	$	315
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	274	$	17	$	291
Discontinued operations		18		—		18
	$	292	$	17	$	309
Net income (loss) per common share
Basic:
Continuing operations	$	0.52	$	0.03	$	0.55
Discontinued operations		0.03		—		0.03
	$	0.55	$	0.03	$	0.58
Diluted:
Continuing operations	$	0.51	$	0.03	$	0.54
Discontinued operations		0.03		—		0.03
	$	0.54	$	0.03	$	0.57

	Six Months Ended June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Statement of Operations	As Reported		Change		of ASC 606
Sales	$	3,479	$	(16)	$	3,463
Costs applicable to sales	$	1,994	$	(8)	$	1,986
Depreciation and amortization	$	580	$	(2)	$	578
Income (loss) before income and mining tax and other items	$	588	$	(6)	$	582
Income and mining tax benefit (expense)	$	(123)	$	2	$	(121)
Net income (loss)	$	489	$	(4)	$	485
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	444	$	(4)	$	440
Discontinued operations		40		—		40
	$	484	$	(4)	$	480
Net income (loss) per common share
Basic:
Continuing operations	$	0.84	$	(0.01)	$	0.83
Discontinued operations		0.07		—		0.07
	$	0.91	$	(0.01)	$	0.90
Diluted:
Continuing operations	$	0.83	$	(0.01)	$	0.82
Discontinued operations		0.07		—		0.07
	$	0.90	$	(0.01)	$	0.89

	Six Months Ended June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Statement of  Cash Flows	As Reported		Change		of ASC 606
Operating activities:
Net income (loss)	$	489	$	(4)	$	485
Adjustments:
Depreciation and amortization	$	580	$	(2)	$	578
Net change in operating assets and liabilities	$	(510)	$	6	$	(504)
Net cash provided by (used in) operating activities of continuing operations	$	667	$	—	$	667

	At June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Balance Sheet	As Reported		Change		of ASC 606
Trade receivables	$	133	$	(16)	$	117
Inventories	$	697	$	10	$	707
Total assets	$	20,655	$	(6)	$	20,649
Income and mining taxes payable	$	71	$	(2)	$	69
Total liabilities	$	8,822	$	(2)	$	8,820
Retained earnings	$	592	$	(4)	$	588
Newmont stockholders' equity	$	10,813	$	(4)	$	10,809
Total equity	$	11,785	$	(4)	$	11,781
Total liabilities and equity	$	20,655	$	(6)	$	20,649

XML

RECLAMATION AND REMEDIATION

6 Months Ended

Jun. 30, 2018

RECLAMATION AND REMEDIATION

RECLAMATION AND REMEDIATION

NOTE 5     RECLAMATION AND REMEDIATION

The Company’s mining and exploration activities are subject to various domestic and international laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation and remediation costs are based principally on current legal and regulatory requirements.

The Company’s Reclamation and remediation expense consisted of:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Reclamation adjustments	$	—	$	15	$	—	$	15
Reclamation accretion		25		25		49		48
Total reclamation expense		25		40		49		63
Remediation adjustments		11		2	$	14	$	7
Remediation accretion		1		1		2		2
Total remediation expense		12		3	$	16	$	9
	$	37	$	43	$	65	$	72

Reclamation and remediation adjustments. In June 2018, the Company updated assumptions at a historic mine site for future water management costs of $8. In June 2017,  the Company updated reclamation liability assumptions at Yanacocha regarding water treatment costs on non-operating leach pads of $15. 

The following are reconciliations of Reclamation and remediationliabilities: 

	2018		2017
Reclamation balance at January 1,	$	2,144	$	1,913
Additions, changes in estimates and other		—		15
Payments, net		(13)		(11)
Accretion expense		49		48
Reclamation balance at June 30,	$	2,180	$	1,965

	2018		2017
Remediation balance at January 1,	$	304	$	312
Additions, changes in estimates and other		8		2
Payments, net		(20)		(21)
Accretion expense		2		2
Remediation balance at June 30,	$	294	$	295

The current portion of reclamation liabilities was $60 at June 30, 2018 and December 31, 2017, and was included in Other current liabilities. The current portion of remediation liabilities was $45 and $43 at June 30, 2018 and December 31, 2017, respectively, and was included in Other current liabilities.  

At June 30, 2018 and December 31, 2017,  $2,180 and $2,144, respectively, were accrued for reclamation obligations relating to operating properties. In addition, the Company is involved in several matters concerning environmental remediation obligations associated with former, primarily historic, mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved.

At June 30, 2018 and December 31, 2017,  $294 and $304, respectively, were accrued for such environmental remediation obligations. Depending upon the ultimate resolution of these matters, the Company believes that it is reasonably possible that the liability for these matters could be as much as 43% greater or 0% lower than the amount accrued at June 30, 2018. These amounts are included in Other current liabilities and Reclamation and remediation liabilities. The amounts accrued are reviewed periodically based upon facts and circumstances available at the time. Changes in estimates are recorded in Reclamation and remediation in the period estimates are revised.

Non-current restricted cash held for purposes of settling reclamation and remediation obligations was $34 and $38 at June 30, 2018 and December 31, 2017, respectively. Of the amounts at June 30, 2018,  $25 was related to the Ahafo and Akyem mines in Ghana, Africa, $8 was related to the Con mine in Yellowknife, Northwest Territory, Canada, and $1 was related to the San Jose Reservoir in Yanacocha, Peru. Of the amount at December 31, 2017,  $25 was related to the Ahafo and Akyem mines, $6 was related to the Con mine, $6 was related to the San Jose Reservoir, and $1 was related to the Midnite mine in Washington state.

Included in Other non-current assets at June 30, 2018 and December 31, 2017, was $58 and $64, respectively, of non-current restricted investments, which are legally pledged for purposes of settling reclamation and remediation obligations related to the San Jose Reservoir in Yanacocha, Midnight mine site and for various locations in North America.

Refer to Note 25 for further discussion of reclamation and remediation matters.

XML

OTHER EXPENSE, NET

6 Months Ended

Jun. 30, 2018

OTHER EXPENSE, NET

OTHER EXPENSE, NET

NOTE 6     OTHER EXPENSE, NET

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Restructuring and other	$	9	$	1	$	15	$	8
Acquisition cost adjustments		—		3		—		5
Impairment of long-lived assets		—		—		—		3
Other		4		10		9		15
	$	13	$	14	$	24	$	31

Restructuring and other. Restructuring and other represents certain costs associated with severance, legal and other settlements for all periods presented.

Acquisition cost adjustments. Acquisition cost adjustments represent net adjustments during 2017 to the contingent consideration and related liabilities associated with the acquisition of the final 33.33% interest in Boddington in June 2009.

Impairment of long-lived assets. Impairment of long-lived assets primarily relates to non-cash write-downs of obsolete assets at Yanacocha and Australia in 2017.

XML

OTHER INCOME, NET

6 Months Ended

Jun. 30, 2018

OTHER INCOME, NET.

OTHER INCOME, NET

NOTE 7     OTHER INCOME, NET

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Gain (loss) on asset and investment sales, net	$	100	$	14	$	99	$	16
Interest		13		6		24		10
Foreign currency exchange, net		14		(4)		21		(21)
Change in fair value of marketable equity securities		5		—		5		—
Tanami insurance proceeds		—		13		—		13
Other		7		2		11		4
	$	139	$	31	$	160	$	22

Gain (loss) on asset and investment sales, net. In June 2018, the Company exchanged certain royalty interests carried at cost for cash consideration, an equity ownership in Maverix Metals Inc. ("Maverix") and warrants in Maverix, resulting in a pre-tax gain of $100.  For additional information regarding this transaction, see Note 16. 

In June 2017, the Company exchanged its interest in the Fort á la Corne joint venture for equity ownership in Shore Gold Inc., resulting in a pre-tax gain of $15.  

Foreign currency exchange, net. Although the majority of the Company’s balances are denominated in U.S. dollars, foreign currency exchange gains (losses) are recognized on balances to be satisfied in local currencies. These balances primarily relate to the timing of payments for employee-related benefits and other current liabilities in Australia, Peru and Suriname.

Tanami insurance proceeds.In June 2017, the Company recorded business interruption insurance proceeds of $13 associated with the heavy rainfall at Tanami during the first quarter of 2017.

XML

INCOME AND MINING TAXES

6 Months Ended

Jun. 30, 2018

INCOME AND MINING TAXES

INCOME AND MINING TAXES

NOTE 8     INCOME AND MINING TAXES

A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2017				2018				2017
Income (loss) before income and mining tax and other items			$	305			$	335			$	588			$	529
U.S. Federal statutory tax rate	21	%	$	64	35	%	$	117	21	%	$	123	35	%	$	185
Reconciling items:
Percentage depletion	(3)			(8)	(13)			(42)	(4)			(25)	(14)			(74)
Change in valuation allowance on deferred tax assets	(5)			(15)	21			72	1			3	26			139
Adjustment to provisional expense related to the Tax Cuts and Job Act	(15)			(45)	—			—	(8)			(45)	—			—
Mining and other taxes	3			9	5			16	5			30	7			35
Foreign rate differential	5			15	—			—	8			46	—			—
Other	—			(2)	2			3	(2)			(9)	(2)			(8)
Income and mining tax expense	6	%	$	18	50	%	$	166	21	%	$	123	52	%	$	277

During the three months ended June 30, 2018, the Company released valuation allowance on capital losses of ($15) as a result of the exchange of certain royalty interests for cash consideration and shares and warrants in Maverix.

During the second quarter, the Company completed a fixed asset study regarding the deductibility of certain mineral interests related to Boddington. Based on the work performed to date, the Company determined it will be able to realize certain Australian deferred tax assets and recorded a tax benefit of $45 during the quarter. This adjustment was treated as a change to the provisional amount recorded in the fourth quarter of 2017 for the impacts of US tax reform as it relates to balances impacted by the tax restructuring completed at year-end. The Company expects to record additional updates to the provisional amounts for the impacts of US tax reform during the last half of 2018 following completion of the 2017 income tax returns and within the 12 month time frame provided under the SEC’s Staff Accounting Bulletin 118.  

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NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS

6 Months Ended

Jun. 30, 2018

NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS

NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS

NOTE 9     NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS

The details of Net income (loss) from discontinued operations are set forth below:

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Holt royalty obligation	$	17	$	(15)	$	36	$	(38)
Batu Hijau contingent consideration (1)		1		—		4		—
Net income (loss) from discontinued operations	$	18	$	(15)	$	40	$	(38)

(1) See Note 15 for details on the Batu Hijau contingent consideration.

The Holt Royalty Obligation

At June 30, 2018 and December 31, 2017, the estimated fair value of the Holt royalty obligation was $193 and $243, respectively. Changes to the estimated fair value resulting from periodic revaluations are recorded to Net income (loss) from discontinued operations, net of tax. During the three and six months ended June 30, 2018, the Company recorded a gain (loss) of $17 and $36, net of a tax benefit (expense) of $(5) and $(9), respectively, related to the Holt royalty obligation. During the three and six months ended June 30, 2017, the Company recorded a gain (loss) of $(15) and $(38), net of tax benefit (expense) of $8 and $21, respectively, related to the Holt royalty obligation.

During the six months ended June 30, 2018 and 2017, the Company paid $5 and $6, respectively, related to the Holt royalty obligation. Refer to Note 14 for additional information on the Holt royalty obligation.

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NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

6 Months Ended

Jun. 30, 2018

NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

NOTE 10     NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Merian	$	11	$	13	$	28	$	26
Yanacocha		(5)		(37)		(23)		(38)
Other		—		—		—		(1)
	$	6	$	(24)	$	5	$	(13)

Newmont has a 75.0% economic interest in Suriname Gold Project C.V. (“Merian”), with the remaining interests held by Staatsolie Maatschappij Suriname N.V. (“Staatsolie”), a company wholly owned by the Republic of Suriname. Newmont consolidates Merian, through its wholly-owned subsidiary, Newmont Suriname LLC., in its Condensed Consolidated Financial Statements as the primary beneficiary in the variable interest entity.

In December 2017, Minera Yanacocha S.R.L. (“Yanacocha”) repurchased a 5% ownership interest from International Finance Corporation, which resulted in Newmont’s ownership in Yanacocha increasing from 51.35% to 54.05%, with the remaining interests held by Buenaventura (which increased from 43.65% to 45.95%). In June 2018, Yanacocha sold a  5% ownership interest to Summit Global Management II VB, a subsidiary of Sumitomo Corporation (“Sumitomo”), in exchange for $48 in cash, which resulted in Newmont’s and Buenaventura’s ownership returning to 51.35% and 43.65%, respectively.

Under the terms of the transaction, Sumitomo has the option to require Yanacocha to repurchase the interest for $48 if the Yanacocha Sulfides project does not adequately progress by June 2022 or if the project is approved with an incremental rate of return below a contractually agreed upon rate.  Consequently, Sumitomo’s interest has been classified outside of permanent equity as Contingently redeemable noncontrolling interest on the Condensed Consolidated Balance Sheets. Under the terms of the sales agreement, the cash paid by Sumitomo at closing has been placed in escrow for repayment in the event the option is exercised. As a result of this transaction, the Company concluded that Newmont will continue to consolidate Yanacocha in its Condensed Consolidated Financial Statements under the voting interest model.

The following summarizes the assets and liabilities of Merian, (including noncontrolling interests):

	At June 30,  2018		At December 31, 2017
Current assets:
Cash and cash equivalents	$	44	$	27
Trade receivables		23		—
Inventories		81		79
Stockpiles and ore on leach pads		31		21
Other current assets (1)		4		6
		183		133
Non-current assets:
Property, plant and mine development, net		777		769
Other non-current assets (2)		3		8
Total assets	$	963	$	910
Current liabilities:
Accounts payable	$	27	$	22
Other current liabilities (3)		26		28
		53		50
Non-current liabilities:
Reclamation and remediation liabilities		18		18
Other non-current liabilities (4)		1		1
Total liabilities	$	72	$	69

⁽¹⁾ Other current assets include other accounts receivables, prepaid assets and other current assets.

⁽²⁾ Other non-current assets include intangibles, stockpiles and ore on leach pads.

⁽³⁾ Other current liabilities include employee-related benefits and other current liabilities.

⁽⁴⁾ Other non-current liabilities include employee-related benefits.

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NET INCOME (LOSS) PER COMMON SHARE

6 Months Ended

Jun. 30, 2018

NET INCOME (LOSS) PER COMMON SHARE

NET INCOME (LOSS) PER COMMON SHARE

NOTE 11    NET INCOME (LOSS) PER COMMON SHARE

Basic net income (loss) per common share is computed by dividing income available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed similarly, except that weighted average common shares is increased to reflect all dilutive instruments, including employee stock awards and convertible debt instruments. The dilutive effects of Newmont’s dilutive securities are calculated using the treasury stock method and only those instruments that result in a reduction in net income per share are included in the calculation.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	274	$	190	$	444	$	260
Discontinued operations		18		(15)		40		(38)
	$	292	$	175	$	484	$	222
Weighted average common shares (millions):
Basic		533		533		534		533
Effect of employee stock-based awards		2		2		1		1
Diluted		535		535		535		534
Net income (loss) per common share attributable to Newmont stockholders:
Basic:
Continuing operations	$	0.52	$	0.36	$	0.84	$	0.49
Discontinued operations		0.03		(0.03)		0.07		(0.07)
	$	0.55	$	0.33	$	0.91	$	0.42
Diluted:
Continuing operations	$	0.51	$	0.36	$	0.83	$	0.49
Discontinued operations		0.03		(0.03)		0.07		(0.07)
	$	0.54	$	0.33	$	0.90	$	0.42

During the three and six months ended June 30, 2018, the Company repurchased and retired approximately 0.2 million and 1.9 million shares of its common stock for $6 and $70, respectively. Additionally, during the three and six months ended June 30, 2018, the Company withheld a nominal amount and 1.0 million shares for payments of employee withholding taxes related to the vesting of stock awards.

When treasury shares are retired, the Company's policy is to allocate the excess of the repurchase price over the par value of shares acquired to both Retained earnings and Additional paid-in capital. The portion allocated to Additional paid-in capital is calculated on a pro-rata basis of the shares to be retired and the total shares issued and outstanding as of the date of the retirement.

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EMPLOYEE PENSION AND OTHER BENEFIT PLANS

6 Months Ended

Jun. 30, 2018

EMPLOYEE PENSION AND OTHER BENEFIT PLANS

EMPLOYEE PENSION AND OTHER BENEFIT PLANS

NOTE 12    EMPLOYEE PENSION AND OTHER BENEFIT PLANS

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Pension benefit costs, net (1):
Service cost	$	8	$	8	$	16	$	15
Interest cost		11		11		21		22
Expected return on plan assets		(17)		(16)		(34)		(31)
Amortization, net		8		7		16		14
Settlements		—		—		—		4
	$	10	$	10	$	19	$	24

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Other benefit costs (credits), net (1):
Service cost	$	1	$	1	$	1	$	1
Interest cost	$	1	$	1	$	2	$	2
Amortization, net		(2)		(3)		(4)		(4)
	$	—	$	(1)	$	(1)	$	(1)

⁽¹⁾ Service costs are included in Costs applicable to sales or General and administrative and the other components of benefit costs and settlements are included in Other income, net.

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STOCK-BASED COMPENSATION

6 Months Ended

Jun. 30, 2018

STOCK-BASED COMPENSATION

STOCK BASED COMPENSATION

NOTE 13    STOCK-BASED COMPENSATION

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Stock-based compensation:
Performance leveraged stock units	$	7	$	9	$	16	$	17
Restricted stock units		12		10		22		17
Strategic stock units		—		—		—		1
	$	19	$	19	$	38	$	35

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FAIR VALUE ACCOUNTING

6 Months Ended

Jun. 30, 2018

FAIR VALUE ACCOUNTING

FAIR VALUE ACCOUNTING

NOTE 14    FAIR VALUE ACCOUNTING

Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

Level 1Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2Quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, quoted prices or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability and model-based valuation techniques (e.g. the Black-Scholes model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

Level 3Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	Fair Value at June 30, 2018
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	3,127	$	3,127	$	—	$	—
Restricted cash		83		83		—		—
Trade receivable from provisional gold and copper concentrate sales, net		86		—		86		—
Diesel forward derivative contracts		7		—		7		—
Marketable equity securities		178		166		12		—
Restricted marketable debt securities		51		22		29		—
Restricted other assets		7		7		—		—
Batu Hijau contingent consideration		27		—		—		27
	$	3,566	$	3,405	$	134	$	27
Liabilities:
Debt (1)	$	4,391	$	—	$	4,391	$	—
Holt royalty obligation		193		—		—		193
	$	4,584	$	—	$	4,391	$	193

	Fair Value at December 31, 2017
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	3,259	$	3,259	$	—	$	—
Restricted cash		39		39		—		—
Trade receivable from provisional gold and copper concentrate sales, net		111		—		111		—
Diesel forward derivative contracts		6		—		6		—
Marketable equity securities		165		165		—		—
Restricted marketable debt securities		55		17		38		—
Restricted other assets		9		9		—		—
Batu Hijau contingent consideration		23		—		—		23
	$	3,667	$	3,489	$	155	$	23
Liabilities:
Debt (1)	$	4,671	$	—	$	4,671	$	—
Foreign exchange forward derivative contracts		1		—		1		—
Holt royalty obligation		243		—		—		243
	$	4,915	$	—	$	4,672	$	243

⁽¹⁾ Debt, exclusive of capital leases, is carried at amortized cost. The outstanding carrying value was $4,042 and $4,040 at June 30, 2018 and December 31, 2017, respectively. The fair value measurement of debt was based on an independent third party pricing source.

The fair values of the derivative instruments in the table above are presented on a net basis. The gross amounts related to the fair value of the derivative instruments above are included in Note 15. All other fair value disclosures in the above table are presented on a gross basis.

The Company’s cash and cash equivalents and restricted cash and restricted cash equivalents are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash and cash equivalent instruments and restricted cash are valued based on quoted market prices in active markets and are primarily money market securities and U.S. Treasury securities.

The Company’s net trade receivables from provisional gold and copper concentrate sales, which contain an embedded derivative and are subject to final pricing, are valued using quoted market prices based on forward curves for the particular metal. As the contracts themselves are not traded on an exchange, these receivables are classified within Level 2 of the fair value hierarchy.

The Company’s derivative instruments are valued using pricing models, and the Company generally uses similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices, forward curves, measures of volatility, and correlations of such inputs. The Company’s derivatives trade in liquid markets, and as such, model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.

The Company’s marketable equity securities with readily determinable fair values are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the marketable equity securities are calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company. The Company’s marketable equity securities without readily determinable fair values are primarily comprised of warrants in publicly traded companies and are valued using a Black-Scholes model using quoted market prices in active markets of the underlying securities. As the contracts themselves are not traded on the exchange, these equity securities are classified within Level 2 of the fair value hierarchy.

The Company’s restricted marketable debt securities are primarily U.S. government issued bonds and international bonds. The Company’s South American debt securities are classified within Level 1 of the fair value hierarchy, using published market prices of actively traded securities. The Company’s North American debt securities are classified within Level 2 of the fair value hierarchy as they are valued using pricing models which are based on prices of similar, actively traded securities.

The Company’s restricted other assets primarily consist of bank issued certificate of deposits that have maturities over 90 days and marketable equity securities. Both are classified within Level 1 of the fair value hierarchy as their fair values are based on quoted prices available in active markets.

The estimated value of the Batu Hijau contingent consideration was determined using (i) a discounted cash flow model, (ii) a Monte Carlo valuation model to simulate future copper prices using the Company’s long-term copper price, and (iii) estimated production and/or development dates for Batu Hijau Phase 7 and the Elang projects in Indonesia. The contingent consideration is classified within Level 3 of the fair value hierarchy.

The estimated fair value of the Holt royalty obligation was determined using (i) a discounted cash flow model, (ii) a Monte Carlo valuation model to simulate future gold prices using the Company’s long-term gold price, (iii) various gold production scenarios from reserve and resource information and (iv) a weighted average discount rate. The royalty obligation is classified within Level 3 of the fair value hierarchy.

The following tables set forth a summary of the quantitative and qualitative information related to the unobservable inputs used in the calculation of the Company’s Level 3 financial assets and liabilities at June 30, 2018 and December 31, 2017:  

	At June 30,				Range/Weighted
Description	2018		Valuation technique	Unobservable input	average
Batu Hijau contingent consideration	$	27	Monte Carlo	Discount rate		17.50	%
				Short-term copper price	$	3.12
				Long-term copper price	$	3.00
Holt royalty obligation	$	193	Monte Carlo	Discount rate		3.99	%
				Short-term gold price	$	1,306
				Long-term gold price	$	1,300
				Gold production scenarios (in 000's of ounces)		334 - 1,576

	At December 31,				Range/Weighted
Description	2017		Valuation technique	Unobservable input	average
Batu Hijau contingent consideration	$	23	Monte Carlo	Discount rate		17.50	%
				Short-term copper price	$	3.09
				Long-term copper price	$	3.00
Holt royalty obligation	$	243	Monte Carlo	Discount rate		3.32	%
				Short-term gold price	$	1,275
				Long-term gold price	$	1,300
				Gold production scenarios (in 000's of ounces)		402 - 1,779

The following tables set forth a summary of changes in the fair value of the Company’s Level 3 financial assets and liabilities:

	Batu Hijau				Holt
	Contingent		Total		Royalty		Total
	Consideration (1)		Assets		Obligation (1)		Liabilities
Fair value at December 31, 2017	$	23	$	23	$	243	$	243
Settlements		—		—		(5)		(5)
Revaluation		4		4		(45)		(45)
Fair value at June 30, 2018	$	27	$	27	$	193	$	193

	Asset
	Backed		Batu Hijau				Holt
	Commercial		Contingent		Total		Royalty		Total
	Paper (2)		Consideration (1)		Assets		Obligation (1)		Liabilities
Fair value at December 31, 2016	$	18	$	13	$	31	$	187	$	187
Settlements		(18)		—		(18)		(6)		(6)
Revaluation		—		—		—		59		59
Fair value at June 30, 2017	$	—	$	13	$	13	$	240	$	240

⁽¹⁾ The gain (loss) recognized is included in Net income (loss) from discontinued operations.

⁽²⁾ The gain (loss) recognized is included in Other income, net.

.

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DERIVATIVE INSTRUMENTS

6 Months Ended

Jun. 30, 2018

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS

NOTE 15    DERIVATIVE INSTRUMENTS

The Company’s strategy is to provide shareholders with leverage to changes in gold and copper prices by selling its production at spot market prices. Consequently, the Company does not hedge its gold and copper sales. The Company has and will continue to manage certain risks associated with commodity input costs, interest rates and foreign currencies using the derivative market.

Cash Flow Hedges

The Company uses hedge programs to mitigate the variability of its operating costs primarily related to diesel price fluctuations. Prior to adoption of ASU No. 2017-12, Newmont’s hedge portfolio consisted of Nevada diesel swaps and Australian dollar foreign currency forwards. Subsequent to the adoption of this ASU, the Company initiated new diesel hedge programs for all of its Nevada sites in North America, Merian in South America and Boddington, Tanami and KCGM in Australia.

The following diesel contracts were transacted for risk management purposes and qualify as cash flow hedges. The unrealized changes in market value have been recorded in Accumulated other comprehensive income (loss) and are reclassified to income during the period in which the hedged transaction affects earnings.

The Company had the following diesel derivative contracts outstanding at June 30, 2018:  

	Expected Maturity Date
					Total/
	2018	2019	2020	2021	Average
Diesel Fixed Forward Contracts:
North America
Diesel gallons (millions)	7	3	3	1	14
Average rate ($/gallon)	1.68	1.78	1.97	2.04	1.79
South America
Diesel gallons (millions)	—	—	2	—	2
Average rate ($/gallon)	—	—	1.88	1.99	1.89
Australia
Diesel barrels (thousands)	—	12	73	17	102
Average rate ($/barrel)	—	85.93	77.06	79.69	78.54

The hedging instruments consist of a series of financially settled fixed forward contracts, which run through the second quarter of 2021 in North America, South America, and Australia.

Derivative Instrument Fair Values

The Company had the following derivative instruments designated as hedges at June 30, 2018 and December 31, 2017:  

	Fair Values of Derivative Instruments
	At June 30, 2018
	Other		Other		Other		Other
	Current		Non-current		Current		Non-current
	Assets		Assets		Liabilities		Liabilities
Diesel fixed forwards	$	5	$	2	$	—	$	—

	Fair Values of Derivative Instruments
	At December 31, 2017
	Other		Other		Other		Other
	Current		Non-current		Current		Non-current
	Assets		Assets		Liabilities		Liabilities
A$ operating fixed forwards	$	—	$	—	$	1	$	—
Diesel fixed forwards		6		—		—		—
	$	6	$	—	$	1	$	—

As of June 30, 2018 and December 31, 2017, all hedging instruments held by the Company were subject to enforceable master netting arrangements held by various financial institutions. In general, the terms of the Company’s agreements provide for offsetting of amounts payable or receivable between it and the counterparty, at the election of both parties, for transactions that occur on the same date and in the same currency. The Company’s agreements also provide that in the event of an early termination, the counterparties have the right to offset amounts owed or owing under that and any other agreement with the same counterparty. The Company’s accounting policy is to not offset these positions in its accompanying balance sheets. As of June 30, 2018 and December 31, 2017, the potential effect of netting derivative assets against liabilities due to the master netting agreement was not significant.

The following table shows the effect of cash flow hedge accounting in the Company’s Condensed Consolidated Statements of Operations.

	(Gain) Loss Recognized from Cash Flow Hedges
	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Total Costs applicable to sales	$	965	$	999	$	1,994	$	1,956
Amount of (gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss) from diesel hedging instruments	$	(2)	$	1	$	(4)	$	3
Amount of (gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss) from foreign currency hedging instruments	$	2	$	7	$	5	$	15
Total Interest expense, net	$	49	$	64	$	102	$	131
Amount of (gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss) from discontinued interest rate hedging instruments	$	3	$	3	$	6	$	5

The following table shows the location and amount of (gains) losses reported in the Company’s Condensed Consolidated Financial Statements related to the Company’s hedges.

	Foreign Currency				Diesel Fixed				Interest
	Exchange Contracts				Forward Contracts				Rate Contracts
	2018		2017		2018		2017		2018		2017
For the three months ended June 30,
Cash flow hedging relationships:
(Gain) loss recognized in Other comprehensive income (loss)	$	—	$	—	$	(4)	$	3	$	—	$	—
(Gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss)	$	2	$	7	$	(2)	$	1	$	3	$	3
For the six months ended June 30,
Cash flow hedging relationships:
(Gain) loss recognized in Other comprehensive income (loss)	$	—	$	(4)	$	(5)	$	6	$	—	$	—
(Gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss)	$	5	$	15	$	(4)	$	3	$	6	$	5

Over the next 12 months, the Company expects to reclassify from Accumulated other comprehensive income (loss) to income a loss of approximately $5, net of tax, related to unrealized hedge losses.

Batu Hijau Contingent Consideration

Consideration received by the Company in conjunction with the sale of PT Newmont Nusa Tenggara included the Contingent Payment and the Elang Development deferred payment deeds, which were determined to be financial instruments that met the definition of a derivative, but do not qualify for hedge accounting, under ASC 815. See Note 14 for additional information. Contingent consideration of $27 and $23 was included in Other non-current assets in the Company's Condensed Consolidated Balance Sheets as of June 30, 2018 and December 31, 2017, respectively.  

Provisional Gold and Copper Sales

The Company’s provisional gold and copper concentrate sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the gold and copper concentrates at the prevailing indices’ prices at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to final settlement.

The impact to Sales from revenue recognized due to the changes in the final pricing is an increase (decrease) of $(6) and $(2) for the three months ended June 30, 2018 and 2017, respectively, and an increase (decrease) of $(8) and $10 for the six months ended June 30, 2018 and 2017, respectively.

At June 30, 2018, Newmont had gold and copper sales of 78,000 ounces and 13 million pounds priced at an average of $1,251 per ounce and $3.01 per pound, respectively, subject to final pricing over the next several months.

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INVESTMENTS

6 Months Ended

Jun. 30, 2018

INVESTMENTS

INVESTMENTS

NOTE 16    INVESTMENTS

	At June 30, 2018
	Fair Value/
	Equity Basis (1)
Current:
Marketable equity securities	$	56
Non-current:
Marketable equity securities:
Continental Gold Inc.	$	108
Warrants		12
Other marketable equity securities		2
		122
Other investments		5
Equity method investments:
TMAC Resources Inc. (28.71%)		102
Maverix Metals Inc. (27.98%)		78
Minera La Zanja S.R.L. (46.94%)		46
		226
	$	353
Non-current restricted investments: (2)
Marketable debt securities (3)	$	51
Other assets		7
	$	58

	At December 31, 2017
	Cost/Equity		Unrealized				Fair Value/
	Basis		Gain		Loss		Equity Basis (1)
Current:
Marketable equity securities	$	38	$	32	$	(8)	$	62
Non-current:
Marketable equity securities:
Continental Gold Inc.	$	109	$	—	$	(8)	$	101
Warrants		7		—		—		7
Other marketable equity securities		4		—		(2)		2
		120		—		(10)		110
Other investments		5		—		—		5
Equity method investments:
TMAC Resources Inc. (28.79%)		115		—		—		115
Minera La Zanja S.R.L. (46.94%)		50		—		—		50
		165		—		—		165
	$	290	$	—	$	(10)	$	280
Non-current restricted investments: (2)
Marketable debt securities	$	58	$	—	$	(3)	$	55
Other assets		8		1		—		9
	$	66	$	1	$	(3)	$	64

⁽¹⁾ Subsequent to the adoption of ASU No. 2016-01 on January 1, 2018, unrealized gains and losses related to marketable equity securities are recorded in Other income, net. Previously, gains and losses related to unrealized marketable equity securities were recorded in Other comprehensive income (loss).

⁽²⁾ Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. For further information regarding these amounts, see Note 5.

⁽³⁾ There were nominal unrealized gains or losses recorded in Accumulated other comprehensive income (loss) as of June 30, 2018, related to marketable debt securities.

In June 2018, Newmont sold $11 of restricted marketable debt securities for cash in order to fund future remediation work at the Midnite Mine.  

In June 2018, Newmont exchanged certain royalty interests for cash consideration of $17, received in July, and non-cash consideration comprised of 60 million common shares in Maverix and 10 million common share warrants in Maverix, with fair values upon closing of $78 and $5, respectively. Following the transaction, Newmont held a 27.98% equity ownership in Maverix. The Company determined the Maverix investment qualified as an equity method investment.

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INVENTORIES

6 Months Ended

Jun. 30, 2018

Inventories

INVENTORIES

INVENTORIES

NOTE 17    INVENTORIES

	At June 30,		At December 31,
	2018		2017
Materials and supplies	$	436	$	416
In-process		135		131
Concentrate and copper cathode		91		83
Precious metals		35		49
	$	697	$	679

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STOCKPILES AND ORE ON LEACH PADS

6 Months Ended

Jun. 30, 2018

Stockpiles and ore on leach pads

STOCKPILES AND ORE ON LEACH PADS

STOCKPILES AND ORE ON LEACH PADS

NOTE 18    STOCKPILES AND ORE ON LEACH PADS

	At June 30,		At December 31,
	2018		2017
Current:
Stockpiles	$	351	$	330
Ore on leach pads		360		346
	$	711	$	676
Non-current:
Stockpiles	$	1,454	$	1,502
Ore on leach pads		383		346
	$	1,837	$	1,848

	At June 30,		At December 31,
	2018		2017
Stockpiles and ore on leach pads:
Carlin	$	469	$	441
Phoenix		68		68
Twin Creeks		329		340
Long Canyon		45		34
CC&V		333		314
Yanacocha		263		270
Merian		31		25
Boddington		445		431
Tanami		1		4
Kalgoorlie		126		125
Ahafo		386		409
Akyem		52		63
	$	2,548	$	2,524

During the three and six months ended June 30, 2018, the Company recorded write-downs of $73 and $152, respectively, classified as components of Costs applicable to sales, and write-downs of $28 and $57, respectively, classified as components of Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs during the three months ended June 30, 2018,  $31 is related to Carlin, $17 to Twin Creeks, $2 to Yanacocha,  $26 to Ahafo and $25 to Akyem. Of the write-downs during the six months ended June 30, 2018,  $57 is related to Carlin, $33 to Twin Creeks,  $26 to Yanacocha, $46 to Ahafo and $47 to Akyem.

During the three and six months ended June 30, 2017, the Company recorded write-downs of $46 and $86, respectively, classified as components of Costs applicable to sales, and write-downs of $18 and $31, respectively, classified as components of Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs during the three months ended June 30, 2017,  $11 was related to Carlin, $13 to Twin Creeks, $32 to Yanacocha and $8 to Akyem. Of the write-downs during the six months ended June 30, 2017,  $34 was related to Carlin, $16 to Twin Creeks, $41 to Yanacocha, $18 to Ahafo and $8 to Akyem.

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DEBT

6 Months Ended

Jun. 30, 2018

DEBT

DEBT

NOTE 19    DEBT

Scheduled minimum debt repayments are $- for the remainder of 2018, $626 in 2019, $- in 2020,  $- in 2021,  $992 in 2022 and $2,474 thereafter.

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LEASE AND OTHER FINANCING OBLIGATIONS

6 Months Ended

Jun. 30, 2018

COMMITMENTS AND CONTINGENCIES

LEASE AND OTHER FINANCING OBLIGATIONS

NOTE 20     LEASE AND OTHER FINANCING OBLIGATIONS

Scheduled minimum capital lease repayments are $2 in 2018,  $3 in 2019,  $1 in 2020,  $1 in 2021,  $1 in 2022 and $1 thereafter.

In December 2017, the Company began the early phases of the Tanami Power project which includes the construction of a gas pipeline to the Tanami site, and construction and operation of two on-site power stations under agreements that qualify for build-to-suit lease accounting. As of June 30, 2018 and December 31, 2017, the financing obligations under the build-to-suit arrangements were $71 and $14, of which $10 was classified as current as of June 30, 2018.

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OTHER LIABILITIES

6 Months Ended

Jun. 30, 2018

OTHER LIABILITIES

OTHER LIABILITIES

NOTE 21    OTHER LIABILITIES

	At June 30,		At December 31,
	2018		2017
Other current liabilities:
Accrued operating costs	$	109	$	124
Reclamation and remediation liabilities		105		103
Accrued capital expenditures		69		77
Accrued interest		52		52
Royalties		37		63
Holt royalty obligation		14		15
Taxes other than income and mining		5		7
Derivative instruments		—		1
Other		5		20
	$	396	$	462
Other non-current liabilities:
Holt royalty obligation	$	179	$	228
Income and mining taxes		43		47
Power supply agreements		30		32
Social development obligations		21		22
Other		11		13
	$	284	$	342

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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jun. 30, 2018

RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 22    RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

					Pension and		Unrealized Gain
	Unrealized Gain		Foreign		Other		(Loss) on
	(Loss) on		Currency		Post-retirement		Cash flow
	Marketable		Translation		Benefit		Hedge
	Securities, net		Adjustments		Adjustments		Instruments		Total
Balance at December 31, 2017	$	(116)	$	130	$	(208)	$	(98)	$	(292)
Cumulative effect adjustment of adopting ASU No. 2016-01		115		—		—		—		115
Net current-period other comprehensive income (loss):
Change in other comprehensive income (loss) before reclassifications		1		(4)		—		4		1
Reclassifications from accumulated other comprehensive income (loss)		—		—		9		5		14
Other comprehensive income (loss)	$	1	$	(4)	$	9	$	9	$	15
Balance at June 30, 2018	$	—	$	126	$	(199)	$	(89)	$	(162)

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)								Affected Line Item in the Condensed Consolidated Statements of Operations
	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Pension and other post-retirement benefit adjustments:
Amortization	$	6	$	4	$	12	$	10	Other income, net
Settlements		—		—		—		4	Other income, net
Total before tax		6		4		12		14
Tax		(2)		(1)		(3)		(5)
Net of tax	$	4	$	3	$	9	$	9
Hedge instruments adjustments:
Operating cash flow hedges	$	—	$	8	$	1	$	18	Costs applicable to sales
Interest rate contracts		3		3		6		5	Interest expense, net
Total before tax		3		11		7		23
Tax		(1)		(4)		(2)		(8)
Net of tax	$	2	$	7	$	5	$	15
Total reclassifications for the period, net of tax	$	6	$	10	$	14	$	24

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NET CHANGE IN OPERATING ASSETS AND LIABILITIES

6 Months Ended

Jun. 30, 2018

NET CHANGE IN OPERATING ASSETS AND LIABILITIES

NET CHANGE IN OPERATING ASSETS AND LIABILITIES

NOTE 23    NET CHANGE IN OPERATING ASSETS AND LIABILITIES

Net cash provided by (used in) operating activities of continuing operations attributable to the net change in operating assets and liabilities is composed of the following:

	Six Months Ended June 30,
	2018		2017
Decrease (increase) in operating assets:
Trade and other accounts receivables	$	37	$	(22)
Inventories, stockpiles and ore on leach pads		(211)		(118)
Other assets		(17)		—
Increase (decrease) in operating liabilities:
Accounts payable and other accrued liabilities		(123)		(128)
Reclamation and remediation liabilities		(33)		(32)
Accrued tax liabilities		(163)		32
	$	(510)	$	(268)

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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

6 Months Ended

Jun. 30, 2018

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

NOTE 24    CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

The following Condensed Consolidating Financial Statements are presented to satisfy disclosure requirements of Rule 3-10(e) of Regulation S-X resulting from the inclusion of Newmont USA Limited (“Newmont USA”), a wholly-owned subsidiary of Newmont, as a co-registrant with Newmont on debt securities issued under a shelf registration statement on Form S-3 filed under the Securities Act of 1933 under which securities of Newmont (including debt securities guaranteed by Newmont USA) may be issued (the “Shelf Registration Statement”). In accordance with Rule 3-10(e) of Regulation S-X, Newmont USA, as the subsidiary guarantor, is 100% owned by Newmont, the guarantees are full and unconditional, and no other subsidiary of Newmont guaranteed any security issued under the Shelf Registration Statement. There are no restrictions on the ability of Newmont or Newmont USA to obtain funds from its subsidiaries by dividend or loan.

	Three Months Ended June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	419	$	1,243	$	—	$	1,662
Costs and expenses:
Costs applicable to sales (1)		—		281		684		—		965
Depreciation and amortization		1		75		203		—		279
Reclamation and remediation		—		4		33		—		37
Exploration		—		15		39		—		54
Advanced projects, research and development		—		8		28		—		36
General and administrative		—		22		41		—		63
Other expense, net		—		1		12		—		13
		1		406		1,040		—		1,447
Other income (expense):
Other income, net		(5)		20		124		—		139
Interest income - intercompany		17		11		12		(40)		—
Interest expense - intercompany		(11)		—		(29)		40		—
Interest expense, net		(48)		—		(1)		—		(49)
		(47)		31		106		—		90
Income (loss) before income and mining tax and other items		(48)		44		309		—		305
Income and mining tax benefit (expense)		10		(7)		(21)		—		(18)
Equity income (loss) of affiliates		330		(20)		(7)		(310)		(7)
Net income (loss) from continuing operations		292		17		281		(310)		280
Net income (loss) from discontinued operations		—		—		18		—		18
Net income (loss)		292		17		299		(310)		298
Net loss (income) attributable to noncontrolling interests:		—		—		(6)		—		(6)
Net income (loss) attributable to Newmont stockholders	$	292	$	17	$	293	$	(310)	$	292
Comprehensive income (loss)	$	299	$	17	$	299	$	(310)	$	305
Comprehensive loss (income) attributable to noncontrolling interests		—		—		(6)		—		(6)
Comprehensive income (loss) attributable to Newmont stockholders	$	299	$	17	$	293	$	(310)	$	299

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

	Three Months Ended June 30, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	517	$	1,358	$	—	$	1,875
Costs and expenses:
Costs applicable to sales (1)		—		280		719		—		999
Depreciation and amortization		1		82		227		—		310
Reclamation and remediation		—		4		39		—		43
Exploration		—		13		38		—		51
Advanced projects, research and development		—		2		30		—		32
General and administrative		—		18		40		—		58
Other expense, net		—		2		12		—		14
		1		401		1,105		—		1,507
Other income (expense):
Other income, net		23		3		5		—		31
Interest income - intercompany		23		24		15		(62)		—
Interest expense - intercompany		(14)		(4)		(44)		62		—
Interest expense, net		(59)		(1)		(4)		—		(64)
		(27)		22		(28)		—		(33)
Income (loss) before income and mining tax and other items		(28)		138		225		—		335
Income and mining tax benefit (expense)		9		(22)		(153)		—		(166)
Equity income (loss) of affiliates		194		(150)		(11)		(36)		(3)
Net income (loss) from continuing operations		175		(34)		61		(36)		166
Net income (loss) from discontinued operations		—		—		(15)		—		(15)
Net income (loss)		175		(34)		46		(36)		151
Net loss (income) attributable to noncontrolling interests		—		—		24		—		24
Net income (loss) attributable to Newmont stockholders		175		(34)		70		(36)		175
Comprehensive income (loss)		179		(29)		41		(36)		155
Comprehensive loss (income) attributable to noncontrolling interests		—		—		24		—		24
Comprehensive income (loss) attributable to Newmont stockholders	$	179	$	(29)	$	65	$	(36)	$	179

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

	Six Months Ended June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	931	$	2,548	$	—	$	3,479
Costs and expenses:
Costs applicable to sales (1)		—		605		1,389		—		1,994
Depreciation and amortization		2		162		416		—		580
Reclamation and remediation		—		7		58		—		65
Exploration		—		26		68		—		94
Advanced projects, research and development		—		14		56		—		70
General and administrative		—		41		81		—		122
Other expense, net		—		2		22		—		24
		2		857		2,090		—		2,949
Other income (expense):
Other income, net		3		27		130		—		160
Interest income - intercompany		51		22		21		(94)		—
Interest expense - intercompany		(19)		—		(75)		94		—
Interest expense, net		(97)		(2)		(3)		—		(102)
		(62)		47		73		—		58
Income (loss) before income and mining tax and other items		(64)		121		531		—		588
Income and mining tax benefit (expense)		13		(21)		(115)		—		(123)
Equity income (loss) of affiliates		535		(77)		(16)		(458)		(16)
Net income (loss) from continuing operations		484		23		400		(458)		449
Net income (loss) from discontinued operations		—		—		40		—		40
Net income (loss)		484		23		440		(458)		489
Net loss (income) attributable to noncontrolling interests		—		—		(5)		—		(5)
Net income (loss) attributable to Newmont stockholders	$	484	$	23	$	435	$	(458)	$	484
Comprehensive income (loss)	$	499	$	23	$	440	$	(458)	$	504
Comprehensive loss (income) attributable to noncontrolling interests		—		—		(5)		—		(5)
Comprehensive income (loss) attributable to Newmont stockholders	$	499	$	23	$	435	$	(458)	$	499

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

	Six Months Ended June 30, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	941	$	2,624	$	—	$	3,565
Costs and expenses:
Costs applicable to sales (1)		—		583		1,373		—		1,956
Depreciation and amortization		2		165		443		—		610
Reclamation and remediation		—		7		65		—		72
Exploration		—		22		65		—		87
Advanced projects, research and development		—		3		55		—		58
General and administrative		—		35		78		—		113
Other expense, net		—		8		23		—		31
		2		823		2,102		—		2,927
Other income (expense):
Other income, net		26		3		(7)		—		22
Interest income - intercompany		47		24		22		(93)		—
Interest expense - intercompany		(22)		(4)		(67)		93		—
Interest expense, net		(121)		(3)		(7)		—		(131)
		(70)		20		(59)		—		(109)
Income (loss) before income and mining tax and other items		(72)		138		463		—		529
Income and mining tax benefit (expense)		25		(22)		(280)		—		(277)
Equity income (loss) of affiliates		269		(234)		(13)		(27)		(5)
Net income (loss) from continuing operations		222		(118)		170		(27)		247
Net income (loss) from discontinued operations		—		—		(38)		—		(38)
Net income (loss)		222		(118)		132		(27)		209
Net loss (income) attributable to noncontrolling interests		—		—		13		—		13
Net income (loss) attributable to Newmont stockholders	$	222	$	(118)	$	145	$	(27)	$	222
Comprehensive income (loss)	$	238	$	(109)	$	123	$	(27)	$	225
Comprehensive loss (income) attributable to noncontrolling interests		—		—		13		—		13
Comprehensive income (loss) attributable to Newmont stockholders	$	238	$	(109)	$	136	$	(27)	$	238

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

	Six Months Ended June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
Net cash provided by (used in) operating activities of continuing operations	$	(63)	$	251	$	479	$	—	$	667
Net cash provided by (used in) operating activities of discontinued operations		—		—		(5)		—		(5)
Net cash provided by (used in) operating activities		(63)		251		474		—		662
Investing activities:
Additions to property, plant and mine development		—		(125)		(364)		—		(489)
Acquisitions, net		—		—		(39)		—		(39)
Proceeds from sales of investments		—		11		4		—		15
Purchases of investments		—		—		(6)		—		(6)
Other		—		2		—		—		2
Net cash provided by (used in) investing activities		—		(112)		(405)		—		(517)
Financing activities:
Dividends paid to common stockholders		(150)		—		—		—		(150)
Repurchase of common stock		(70)		—		—		—		(70)
Distributions to noncontrolling interests		—		—		(69)		—		(69)
Funding from noncontrolling interests		—		—		52		—		52
Proceeds from sale of noncontrolling interests		—		—		48		—		48
Payments for withholding of employee taxes related to stock-based compensation		—		(39)		—		—		(39)
Net intercompany borrowings (repayments)		283		(99)		(184)		—		—
Other		—		(1)		(2)		—		(3)
Net cash provided by (used in) financing activities		63		(139)		(155)		—		(231)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		—		—		(2)		—		(2)
Net change in cash, cash equivalents and restricted cash		—		—		(88)		—		(88)
Cash, cash equivalents and restricted cash at beginning of period		—		—		3,298		—		3,298
Cash, cash equivalents and restricted cash at end of period	$	—	$	—	$	3,210	$	—	$	3,210
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	—	$	—	$	3,127	$	—	$	3,127
Restricted cash included in Other current assets		—		—		1		—		1
Restricted cash included in Other noncurrent assets		—		—		82		—		82
Total cash, cash equivalents and restricted cash	$	—	$	—	$	3,210	$	—	$	3,210

	Six Months Ended June 30, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
Net cash provided by (used in) operating activities of continuing operations	$	(116)	$	222	$	796	$	—	$	902
Net cash provided by (used in) operating activities of discontinued operations		—		—		(9)		—		(9)
Net cash provided by (used in) operating activities		(116)		222		787		—		893
Investing activities:
Additions to property, plant and mine development		—		(121)		(242)		—		(363)
Acquisitions, net		—		—		—		—		—
Proceeds from sales of investments		—		—		19		—		19
Purchases of investments		(109)		—		(4)		—		(113)
Other		—		2		15		—		17
Net cash provided by (used in) investing activities		(109)		(119)		(212)		—		(440)
Financing activities:
Dividends paid to common stockholders		(54)		—		—		—		(54)
Repurchase of common stock		—		—		—		—		—
Distributions to noncontrolling interests		—		—		(80)		—		(80)
Funding from noncontrolling interests		—		—		46		—		46
Proceeds from sale of noncontrolling interests		—		—		—		—		—
Payments for withholding of employee taxes related to stock-based compensation		—		(13)		—		—		(13)
Net intercompany borrowings (repayments)		282		(90)		(192)		—		—
Other		(3)		(1)		(2)		—		(6)
Net cash provided by (used in) financing activities		225		(104)		(228)		—		(107)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		—		—		2		—		2
Net change in cash, cash equivalents and restricted cash		—		(1)		349		—		348
Cash, cash equivalents and restricted cash at beginning of period		—		1		2,781		—		2,782
Cash, cash equivalents and restricted cash at end of period	$	—	$	—	$	3,130	$	—	$	3,130
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	—	$	—	$	3,105	$	—	$	3,105
Restricted cash included in Other current assets		—		—		2		—		2
Restricted cash included in Other noncurrent assets		—		—		23		—		23
Total cash, cash equivalents and restricted cash	$	—	$	—	$	3,130	$	—	$	3,130

	At June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets:
Cash and cash equivalents	$	—	$	—	$	3,127	$	—	$	3,127
Trade receivables		—		15		118		—		133
Other accounts receivables		—		—		101		—		101
Intercompany receivable		2,075		4,882		3,692		(10,649)		—
Investments		—		—		56		—		56
Inventories		—		167		530		—		697
Stockpiles and ore on leach pads		—		215		496		—		711
Other current assets		—		40		102		—		142
Current assets		2,075		5,319		8,222		(10,649)		4,967
Property, plant and mine development, net		16		3,059		9,303		(27)		12,351
Investments		113		5		235		—		353
Investments in subsidiaries		13,250		(463)		16		(12,803)		—
Stockpiles and ore on leach pads		—		643		1,194		—		1,837
Deferred income tax assets		87		—		450		—		537
Non-current intercompany receivable		738		527		6		(1,271)		—
Other non-current assets		—		244		366		—		610
Total assets	$	16,279	$	9,334	$	19,792	$	(24,750)	$	20,655
Liabilities:
Lease and other financing obligations	$	—	$	1	$	12	$	—	$	13
Accounts payable		—		74		286		—		360
Intercompany payable		1,364		2,529		6,756		(10,649)		—
Employee-related benefits		—		100		140		—		240
Income and mining taxes		—		8		63		—		71
Other current liabilities		52		115		229		—		396
Current liabilities		1,416		2,827		7,486		(10,649)		1,080
Debt		4,042		—		—		—		4,042
Lease and other financing obligations		—		3		63		—		66
Reclamation and remediation liabilities		—		312		2,057		—		2,369
Deferred income tax liabilities		—		125		464		—		589
Employee-related benefits		1		223		168		—		392
Non-current intercompany payable		7		—		1,291		(1,298)		—
Other non-current liabilities		—		13		271		—		284
Total liabilities		5,466		3,503		11,800		(11,947)		8,822
Contingently redeemable noncontrolling interest		—		—		48		—		48
Equity:
Newmont stockholders’ equity		10,813		5,831		6,972		(12,803)		10,813
Noncontrolling interests		—		—		972		—		972
Total equity		10,813		5,831		7,944		(12,803)		11,785
Total liabilities and equity	$	16,279	$	9,334	$	19,792	$	(24,750)	$	20,655

	At December 31, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets:
Cash and cash equivalents	$	—	$	—	$	3,259	$	—	$	3,259
Trade receivables		—		18		106		—		124
Other accounts receivables		—		—		113		—		113
Intercompany receivable		2,053		4,601		3,484		(10,138)		—
Investments		—		—		62		—		62
Inventories		—		181		498		—		679
Stockpiles and ore on leach pads		—		196		480		—		676
Other current assets		—		38		115		—		153
Current assets		2,053		5,034		8,117		(10,138)		5,066
Property, plant and mine development, net		17		3,082		9,266		(27)		12,338
Investments		106		4		170		—		280
Investments in subsidiaries		12,012		(311)		—		(11,701)		—
Stockpiles and ore on leach pads		—		648		1,200		—		1,848
Deferred income tax assets		84		5		460		—		549
Non-current intercompany receivable		1,700		401		7		(2,108)		—
Other non-current assets		—		255		310		—		565
Total assets	$	15,972	$	9,118	$	19,530	$	(23,974)	$	20,646
Liabilities:
Lease and other financing obligations	$	—	$	1	$	3	$	—	$	4
Accounts payable		—		83		292		—		375
Intercompany payable		1,338		2,145		6,655		(10,138)		—
Employee-related benefits		—		143		166		—		309
Income and mining taxes		—		18		230		—		248
Other current liabilities		52		163		247		—		462
Current liabilities		1,390		2,553		7,593		(10,138)		1,398
Debt		4,040		—		—		—		4,040
Lease and other financing obligations		—		4		17		—		21
Reclamation and remediation liabilities		—		309		2,036		—		2,345
Deferred income tax liabilities		—		121		474		—		595
Employee-related benefits		—		222		164		—		386
Non-current intercompany payable		7		—		2,128		(2,135)		—
Other non-current liabilities		—		18		324		—		342
Total liabilities		5,437		3,227		12,736		(12,273)		9,127
Contingently redeemable noncontrolling interest		—		—		—		—		—
Equity:
Newmont stockholders’ equity		10,535		5,891		5,810		(11,701)		10,535
Noncontrolling interests		—		—		984		—		984
Total equity		10,535		5,891		6,794		(11,701)		11,519
Total liabilities and equity	$	15,972	$	9,118	$	19,530	$	(23,974)	$	20,646

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COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2018

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES (Environmental)

NOTE 25    COMMITMENTS AND CONTINGENCIES

General

Estimated losses from contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the contingency and estimated range of loss, if determinable, is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.

Operating Segments

The Company’s operating and reportable segments are identified in Note 3. Except as noted in this paragraph, all of the Company’s commitments and contingencies specifically described herein are included in Corporate and Other. The Yanacocha matters relate to the South America reportable segment. The Fronteer matters relate to the North America reportable segment.

Environmental Matters

Refer to Note 5 for further information regarding reclamation and remediation. Details about certain of the more significant matters are discussed below.

Newmont USA Limited - 100% Newmont Owned

Ross-Adams mine site. By letter dated June 5, 2007, the U.S. Forest Service (“USFS”) notified Newmont that it had expended approximately $0.3 in response costs to address environmental conditions at the Ross-Adams mine in Prince of Wales, Alaska, and requested Newmont USA Limited pay those costs and perform an Engineering Evaluation/Cost Analysis (“EE/CA”) to assess what future response activities might need to be completed at the site. Newmont agreed to perform the EE/CA pursuant to the requirements of an Administrative Settlement Agreement and Order on Consent (“ASAOC”) between the USFS and Newmont. The EE/CA was provided to the USFS in April 2015. During the first quarter of 2016, the USFS confirmed approval of the EE/CA, and Newmont issued written notice to the USFS certifying that all requirements of the ASAOC had been completed. During the third quarter of 2016, Newmont received a notice of completion of work per the ASAOC from the USFS, which finalized the ASAOC. The USFS issued an Action Memorandum in April 2018 to select the preferred Removal Action alternative identified in the EE/CA. Newmont is continuing to negotiate the terms of a future agreement with the USFS for Newmont to implement the approved Removal Action. No assurances can be made at this time with respect to the outcome of such negotiations and Newmont cannot predict the likelihood of additional expenditures related to this matter.

Dawn Mining Company LLC (“Dawn”) - 51% Newmont Owned

Midnite mine site and Dawn mill site. Dawn previously leased an open pit uranium mine, currently inactive, on the Spokane Indian Reservation in the State of Washington. The mine site is subject to regulation by agencies of the U.S. Department of Interior (the Bureau of Indian Affairs and the Bureau of Land Management), as well as the U.S. Environmental Protection Agency (“EPA”).

As per the Consent Decree approved by the U.S. District Court for the Eastern District of Washington on January 17, 2012, the following actions were required of Newmont, Dawn, the Department of the Interior and the EPA: (i) Newmont and Dawn would design, construct and implement the cleanup plan selected by the EPA in 2006 for the Midnite mine site; (ii) Newmont and Dawn would reimburse the EPA for its costs associated with overseeing the work; (iii) the Department of the Interior would contribute a lump sum amount toward past EPA costs and future costs related to the cleanup of the Midnite mine site; (iv) Newmont and Dawn would be responsible for all other EPA oversight costs and Midnite mine site cleanup costs; and (v) Newmont would post a surety bond for work at the site.

During 2012, the Department of Interior contributed its share of past EPA costs and future costs related to the cleanup of the Midnite mine site in a lump sum payment of $42, which Newmont classified as restricted assets with interest on the Condensed Consolidated Balance Sheets for all periods presented. In 2016, Newmont completed the remedial design process (with the exception of the new water treatment plant (“WTP”) design which was awaiting the approval of the new National Pollutant Discharge Elimination System (“NPDES”) permit). Subsequently, the new NPDES permit was received in 2017 and the WTP design commenced in 2018. Newmont is managing the remediation project to implement Phase 1 remedial actions during the 2018 construction season with a focus on preparations to backfill Pit 4. In June 2018, $11 was released from the trust account for remedial work completed. 

The Dawn mill site is regulated by the Washington Department of Health and is in the process of being closed. Remediation at the Dawn mill site began in 2013. The Tailing Disposal Area 1-4 reclamation earthworks component was completed during 2017 with the embankment erosion protection completed in Q2 2018. The remaining closure activity will consist primarily of addressing groundwater issues.

The remediation liability for the Midnite mine site and Dawn mill site is approximately $171 at June 30, 2018.

Other Legal Matters

Minera Yanacocha S.R.L. – 51.35% Newmont Owned

Administrative Actions. The Peruvian government agency responsible for environmental evaluation and inspection, Organismo Evaluacion y Fiscalizacion Ambiental (“OEFA”), conducts periodic reviews of the Yanacocha site. In 2011, 2012, 2013, 2015, 2016, 2017 and 2018, OEFA issued notices of alleged violations of OEFA standards to Yanacocha and Conga relating to past inspections. OEFA has resolved some alleged violations with minimal or no findings. In 2015 and 2016, the water authority of Cajamarca issued notices of alleged regulatory violations, and resolved some allegations in 2017 with no findings. The experience with OEFA and the water authority is that in the case of a finding of violation, remedial action is often the outcome rather than a significant fine. The alleged OEFA violations currently range from zero to 44,540 units and the water authority alleged violations range from zero to 59 units, with each unit having a potential fine equivalent to approximately $.001287 based on current exchange rates ($0 to $57). Yanacocha and Conga are responding to all notices of alleged violations, but cannot reasonably predict the outcome of the agency allegations.

Conga Project Constitutional Claim. On October 18, 2012, Marco Antonio Arana Zegarra filed a constitutional claim against the Ministry of Energy and Mines and Yanacocha requesting the Court to order the suspension of the Conga project as well as to declare not applicable the October 27, 2010, directorial resolution approving the Conga project Environmental Impact Assessment (“EIA”). On October 23, 2012, a Cajamarca judge dismissed the claims based on formal grounds finding that: (i) plaintiffs had not exhausted previous administrative proceedings; (ii) the directorial resolution approving the Conga EIA is valid, and was not challenged when issued in the administrative proceedings; (iii) there was inadequate evidence to conclude that the Conga project is a threat to the constitutional right of living in an adequate environment and; (iv) the directorial resolution approving the Conga project EIA does not guarantee that the Conga project will proceed, so there was no imminent threat to be addressed by the Court. The plaintiffs appealed the dismissal of the case. The Civil Court of the Superior Court of Cajamarca confirmed the above mentioned resolution and the plaintiff presented an appeal. On March 13, 2015, the Constitutional Court published its ruling stating that the case should be sent back to the first court with an order to formally admit the case and start the judicial process in order to review the claim and the proofs presented by the plaintiff. Yanacocha has answered the claim. Neither the Company nor Yanacocha can reasonably predict the outcome of this litigation.

Yanacocha Tax Dispute. In 2000, Yanacocha paid Buenaventura and Minas Conga S.R.L. a total of $29 to assume their respective contractual positions in mining concession agreements with Chaupiloma Dos de Cajamarca S.M.R.L. The contractual rights allowed Yanacocha the opportunity to conduct exploration on the concessions, but not a purchase of the concessions. The tax authority alleges that the payments to Buenaventura and Minas Conga S.R.L. were acquisitions of mining concessions requiring the amortization of the amounts under the Peru Mining Law over the life of the mine. Yanacocha expensed the amounts at issue in the initial year since the payments were not for the acquisition of a concession but rather these expenses represent the payment of an intangible and therefore, amortizable in a single year or proportionally for up to ten years according to Income Tax Law. In 2010, the tax court in Peru ruled in favor of Yanacocha and the tax authority appealed the issue to the judiciary. The first appellate court confirmed the ruling of the tax court in favor of Yanacocha. However, in November, 2015, a Superior Court in Peru made an appellate decision overturning the two prior findings in favor of Yanacocha. Yanacocha has appealed the Superior Court ruling to the Peru Supreme Court. The potential liability in this matter is in the form of fines and interest in an amount up to $83. While the Company has assessed that the likelihood of a ruling against Yanacocha in the Supreme Court as remote, it is not possible to fully predict the outcome of this litigation.

NWG Investments Inc. v. Fronteer Gold Inc.

In April 2011, Newmont acquired Fronteer Gold Inc. (“Fronteer”).

Fronteer acquired NewWest Gold Corporation (“NewWest Gold”) in September 2007. At the time of that acquisition, NWG Investments Inc. (“NWG”) owned approximately 86% of NewWest Gold and an individual named Jacob Safra owned or controlled 100% of NWG. Prior to its acquisition of NewWest Gold, Fronteer entered into a June 2007 lock-up agreement with NWG providing that, among other things, NWG would support Fronteer’s acquisition of NewWest Gold. At that time, Fronteer owned approximately 47% of Aurora Energy Resources Inc. (“Aurora”), which, among other things, had a uranium exploration project in Labrador, Canada.

NWG contends that, during the negotiations leading up to the lock-up agreement, Fronteer represented to NWG, among other things, that Aurora would commence uranium mining in Labrador by 2013, that this was a firm date, that Aurora faced no current environmental issues in Labrador and that Aurora’s competitors faced delays in commencing uranium mining. NWG further contends that it entered into the lock-up agreement and agreed to support Fronteer’s acquisition of NewWest Gold in reliance upon these purported representations. On October 11, 2007, less than three weeks after the Fronteer-NewWest Gold transaction closed, a member of the Nunatsiavut Assembly introduced a motion calling for the adoption of a moratorium on uranium mining in Labrador. On April 8, 2008, the Nunatsiavut Assembly adopted a three-year moratorium on uranium mining in Labrador. NWG contends that Fronteer was aware during the negotiations of the NWG/Fronteer lock-up agreement that the Nunatsiavut Assembly planned on adopting this moratorium and that its adoption would preclude Aurora from commencing uranium mining by 2013, but Fronteer nonetheless fraudulently induced NWG to enter into the lock-up agreement.

On September 24, 2012, NWG served a summons and complaint on the Company, and then amended the complaint to add Newmont Canada Holdings ULC as a defendant. The complaint also named Fronteer Gold Inc. and Mark O’Dea as defendants. The complaint sought rescission of the merger between Fronteer and NewWest Gold and $750 in damages. In August 2013 the Supreme Court of New York, New York County issued an order granting the defendants’ motion to dismiss on forum non conveniens. Subsequently, NWG filed a notice of appeal of the decision and then a notice of dismissal of the appeal on March 24, 2014.

On February 26, 2014, NWG filed a lawsuit in Ontario Superior Court of Justice against Fronteer Gold Inc., Newmont Mining Corporation, Newmont Canada Holdings ULC, Newmont FH B.V. and Mark O’Dea. The Ontario complaint is based upon substantially the same allegations contained in the New York lawsuit with claims for fraudulent and negligent misrepresentation. NWG seeks disgorgement of profits since the close of the NWG deal on September 24, 2007 and damages in the amount of C$1.2 billion. Newmont, along with other defendants, served the plaintiff with its statement of defense on October 17, 2014. Newmont intends to vigorously defend this matter, but cannot reasonably predict the outcome.

Other Commitments and Contingencies

Newmont is from time to time involved in various legal proceedings related to its business. Except in the above described proceedings, management does not believe that adverse decisions in any pending or threatened proceeding or that amounts that may be required to be paid by reason thereof will have a material adverse effect on the Company’s financial condition or results of operations.

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SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2018

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 26    SUBSEQUENT EVENTS

In July 2018, Newmont signed a definitive agreement for the purchase of a 50% interest in the Galore Creek Partnership from NovaGold Resources Inc. for cash consideration of $100, as well as deferred payments of $100 and contingent payments of $75.  Galore Creek is located in the traditional territory of the Tahltan Nation in northwestern British Columbia, Canada.  In connection with the purchase from NovaGold, we also entered into a revised partnership agreement with Teck Resources Limited, who holds the remaining 50% interest.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Risks and Uncertainties

Risks and Uncertainties

As a global mining company, the Company’s revenue, profitability and future rate of growth are substantially dependent on prevailing prices for gold and copper. Historically, the commodity markets have been very volatile, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and on the quantities of reserves that the Company can economically produce. The carrying value of the Company’s Property, plant and mine development,  net;Inventories;Stockpiles and ore on leach pads and Deferred income tax assets are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. The Company must make these estimates and assumptions because certain information used is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. Actual results could differ from these estimates.

Contingently Redeemable Noncontrolling Interest

Contingently Redeemable Noncontrolling Interest

Certain noncontrolling interests in consolidated entities meet the definition of redeemable financial instruments if the ability to redeem the interest is outside of the control of the consolidating entity. In such cases, these financial instruments are required to be classified outside of permanent equity (referred to as temporary equity).

Revenue Recognition

Revenue Recognition

The Company adopted ASC 606, Revenue from contracts with customers, on January 1, 2018. Changes to the accounting policy as a result of adoption are discussed below. 

Newmont generates revenue by selling gold and copper produced from its mining operations. Refer to Note 3 for further information regarding the Company’s operating segments.

The majority of the Company’s Sales come from the sale of refined gold; however, the end product at the Company’s gold operations is generally doré bars. Doré is an alloy consisting primarily of gold but also containing silver and other metals. Doré is sent to refiners to produce bullion that meets the required market standard of 99.95% gold. Under the terms of the Company’s refining agreements, the doré bars are refined for a fee, and the Company’s share of the refined gold and the separately-recovered silver is credited to its bullion account. Gold from doré bars credited to its bullion account is typically sold to banks or refiners.

A portion of gold sold from Boddington and Kalgoorlie in Australia, Phoenix in Nevada and CC&V in Colorado is sold in the form of concentrate which includes copper and silver. The Company’s Sales also come from the sale of copper. Copper sales are generally in the form of concentrate, which is sold to smelters for further treatment and refining, and cathode. Copper sold from Boddington in Australia is sold in concentrate form and copper sold from Phoenix in Nevada is sold in either concentrate or cathode form.

Generally, if a metal expected to be mined represents more than 10 to 20% of the life of mine sales value of all the metal expected to be mined, co-product accounting should apply. When the Company applies co-product accounting at an operation, revenue is recognized for each co-product metal sold, and shared costs applicable to sales are allocated based on the relative sales values of the co-product metals produced. Generally, if metal expected to be mined is less than the 10 to 20% of the life of mine sales value, by-product accounting should apply. Revenues from by-product sales, which are immaterial, are credited to Costs applicable to sales as a by-product credit. Copper is produced as a co-product at Phoenix and Boddington. Copper and silver is produced as a by-product at certain of the Company’s other operations.

Gold Sales from Doré Production

The Company recognizes revenue for gold from doré production when it satisfies the performance obligation of transferring gold inventory to the customer, which generally occurs upon transfer of gold bullion credits as this is the point at which the customer obtains the ability to direct the use and obtain substantially all of the remaining benefits of ownership of the asset.

The Company generally recognizes the sale of gold bullion credits at the prevailing market price when gold bullion credits are delivered to the customer. The transaction price is determined based on the agreed upon market price and the number of ounces delivered. Payment is due upon delivery of gold bullion credits to the customer’s account.

Gold and Copper Sales from Concentrate Production

The Company recognizes revenue for gold and copper from concentrate production, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer. This generally occurs as material passes over the vessel's rail at the port of loading based on the date from the bill of lading, as the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the material and the customer has the risk of loss. Newmont has elected to account for shipping and handling costs for concentrate contracts as fulfillment activities and not as promised goods or services; therefore these activities are not considered separate performance obligations.

The Company generally sells gold and copper concentrate based on the future monthly average market price for a future month, dependent on the relevant contract, following the month in which the delivery to the customer takes place. The amount of revenue recognized for concentrates is initially recorded on a provisional basis based on the forward prices for the estimated month of settlement and the Company’s estimated metal quantities based on assay data. The Company’s sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward price at the time of sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through Sales each period prior to final settlement. The Company also adjusts estimated metal quantities used in computing provisional sales using new information and assay data from the smelter as it is received (if any).

A provisional payment is generally due upon delivery of the concentrate to the customer. Final payment is due upon final settlement of price and quantity with the customer.

The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations and updated quantities between the date the sale is recorded and the date of final settlement. If a significant decline in metal prices occurs, or assay data results in a significant change in quantity between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the provisional payment received on the sale.

Copper Sales from Cathode Production

The Company recognizes revenue for copper from cathode production when it transfers control of copper cathode to the customer, which occurs when the material is picked up by the carrier. The Company generally sells copper cathode based on the weekly average market price for the week following production. The transaction price is determined based on this agreed upon price and the number of pounds delivered. Payment is due upon final settlement of price and quantity with the customer. 

Recently Adopted and Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Revenue Recognition

In May 2014, ASU No. 2014-09 was issued related to revenue from contracts with customers. This ASU was further amended in August 2015, March 2016, April 2016, May 2016, December 2016 and September 2017 by ASU No. 2015-14, No. 2016-08, No. 2016-10, No. 2016-12, No. 2016-20 and No. 2017-13, respectively. The new standard provides a five-step approach to be applied to all contracts with customers and also requires expanded disclosures about revenue recognition.

The company retrospectively adopted this standard as of January 1, 2018. As there were no contracts outstanding as of December 31, 2017, there was no cumulative effect adjustment required to be recognized at January 1, 2018. The comparative information has not been adjusted and continues to be reported under the accounting standards in effect for those periods.

The adoption of this standard primarily impacts the timing of revenue recognition on certain concentrate contracts based on the Company’s determination of when control is transferred. Revenue related to concentrate shipments is now generally recognized upon completion of loading the material for shipment to the customer and satisfaction of the Company’s significant performance obligation. Prior to the adoption of this standard, revenue was recognized for these contracts when the price was determinable, the concentrate had been loaded on a vessel or received by the customer, risk and title had been transferred and collection of the sales price was reasonably assured.

Investments

In January 2016, ASU No. 2016-01 was issued related to financial instruments. This ASU was further amended in February 2018 by ASU No. 2018-03. The new guidance requires entities to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income. This new guidance also updates certain disclosure requirements for these investments. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017, and upon adoption, an entity should apply the amendments with the cumulative effect of initially applying the guidance recognized at January 1, 2018. The Company adopted this standard as of January 1, 2018. Upon adoption, the Company reclassified $115 of unrealized holding gains and losses and deferred income taxes related to investments in marketable equity securities from Accumulated other comprehensive income (loss) to Retained earnings in the Consolidated Balance Sheets.

Statement of Cash Flows

In August 2016, ASU No. 2016-15 was issued related to the statement of cash flows. This new guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017. The Company adopted the guidance as of January 1, 2018. Upon adoption, the Company reclassified $6 for the six months ended June 30, 2017 of Acquisitions, net previously reported as a cash outflow from investing activities, to operating activities on the Consolidated Statements of Cash Flows related to contingent consideration payments.

Intra-Entity Transfers

In October 2016, ASU No. 2016-16 was issued related to the intra-entity transfers of assets other than inventory. This new guidance requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017. The Company adopted this guidance as of January 1, 2018, and determined it had no impact on the Consolidated Financial Statements or disclosures.

Restricted Cash

In November 2016, ASU No. 2016-18 was issued related to the inclusion of restricted cash in the statement of cash flows. This new guidance requires that a statement of cash flows present the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017, and early adoption is permitted. The Company retrospectively adopted this guidance as of December 31, 2017. Upon adoption, the Company included a reconciliation of Cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total shown in the Consolidated Statements of Cash Flows. Adoption of this guidance had no other impact on the Consolidated Financial Statements or disclosures.

Employee Benefits

In March 2017, ASU No. 2017-07 was issued related to the presentation of net periodic pension and postretirement cost. The new guidance requires the service cost component of net benefit costs to be classified similar to other compensation costs arising from services rendered by employees. Other components of net benefit costs are required to be classified separately from the service cost and outside income from operations. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance resulted in the recognition of other components of net benefit costs within Other income, net rather than Costs applicable to sales or General and administrative and is no longer included in costs that benefit the inventory or production process. Adoption of this guidance did not have a material impact on the Consolidated Financial Statements or disclosures.

Hedging

In August 2017, ASU No. 2017-12 was issued related to hedge accounting. The new guidance expands the ability to hedge nonfinancial risk components, eliminates the current requirement to separately measure and report hedge ineffectiveness, and requires the entire change in fair value of a hedging instrument to be presented in the same income statement line as the hedged item, when reclassified from Accumulated other comprehensive income (loss). The guidance also eases certain hedge effectiveness documentation and assessment requirements. This update is effective in fiscal years, including interim periods, beginning after December 15, 2018, and early adoption is permitted. The Company adopted this guidance as of January 1, 2018, and there was no material impact on the Consolidated Financial Statements or disclosures as a result of adoption.

Recently Issued Accounting Pronouncements

Leases

In February 2016, ASU No. 2016-02 was issued related to leases, which was further amended in September 2017 by ASU No. 2017-13, in January 2018 by ASU No. 2018-01 and in July 2018 by ASU No. 2018-10. The new guidance modifies the classification criteria and requires lessees to recognize right-of-use assets and lease liabilities arising from most leases on the balance sheet with additional disclosures about leasing arrangements. This update is effective in fiscal years, including interim periods, beginning after December 15, 2018, and early adoption is permitted. The Company anticipates adopting the new guidance as of January 1, 2019.

The Company has begun its assessment of the new guidance and the impact it will have on the Consolidated Financial Statements and disclosures, and expects to complete its analysis in 2018. To date, the Company has formed a cross-functional implementation team; commenced a completeness assessment over the lease population; begun the evaluation of the various practical expedients and policy elections that will be adopted; started to establish new policies, procedures and internal controls related to the new standard; and commenced the review of contracts that are expected to be outstanding as of the adoption date.

Management is still completing its assessment of the impacts; however, based on the procedures performed, management has identified certain service contracts that contain embedded leases under the revised guidance. The Company expects that the adoption of the new standard will gross up the Consolidated Balance Sheets with the recognition of right-of-use assets and lease liabilities related to operating leases. The Company does not expect there will be a material impact to the Consolidated Statements of Operations and the Consolidated Statements of Cash Flows. The Company is in the process of assessing the required disclosures of the new standard, and expects to provide additional qualitative and quantitative disclosures related to leasing arrangements upon adoption.

Other Comprehensive Income Reclassifications Related to Tax Reform

In February 2018, ASU 2018-02 was issued allowing companies the option to reclassify to retained earnings the tax effects related to items in Accumulated other comprehensive income (loss) as a result of the Tax Cuts and Jobs Act (the “Act”) that was enacted on December 22, 2017. This update is effective in fiscal years, including interim periods, beginning after December 15, 2018, and early adoption is permitted. This guidance should be applied either in the period of adoption or retrospectively to each period in which the effects of the change in the U.S. federal income tax rate in the Act is recognized. The Company is still completing its assessment of the impacts and anticipated adoption date of this guidance.

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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2018

SEGMENT INFORMATION

Financial Information of Company's Segments

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Three Months Ended June 30, 2018
Carlin	$	244	$	178	$	43	$	8	$	13	$	42
Phoenix:
Gold		63		44		10
Copper		21		14		4
Total Phoenix		84		58		14		1		10		11
Twin Creeks		114		66		16		3		33		22
Long Canyon		56		18		19		6		11		2
CC&V		88		42		14		1		25		9
Other North America		—		—		1		9		(9)		2
North America		586		362		107		28		83		88
Yanacocha		147		92		22		12		(3)		24
Merian		132		61		20		6		46		27
Other South America		—		—		4		8		(13)		1
South America		279		153		46		26		30		52
Boddington:
Gold		220		130		24
Copper		60		32		6
Total Boddington		280		162		30		—		92		10
Tanami		134		74		16		4		43		26
Kalgoorlie		122		62		6		3		53		5
Other Australia		—		—		2		2		(2)		—
Australia		536		298		54		9		186		41
Ahafo		132		90		29		4		6		64
Akyem		129		62		41		4		21		11
Other Africa		—		—		—		1		(3)		—
Africa		261		152		70		9		24		75
Corporate and Other		—		—		2		18		(18)		2
Consolidated	$	1,662	$	965	$	279	$	90	$	305	$	258

⁽¹⁾ Consolidated capital expenditures on a cash basis were $258.  

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Three Months Ended June 30, 2017
Carlin	$	279	$	170	$	46	$	5	$	55	$	48
Phoenix:
Gold		67		46		12
Copper		24		16		4
Total Phoenix		91		62		16		3		9		4
Twin Creeks		156		61		17		2		72		9
Long Canyon		57		13		18		5		21		3
CC&V		166		74		33		3		53		4
Other North America		—		—		1		4		(5)		1
North America		749		380		131		22		205		69
Yanacocha		149		134		34		8		(59)		9
Merian		150		64		26		4		54		22
Other South America		—		—		3		9		(16)		—
South America		299		198		63		21		(21)		31
Boddington:
Gold		262		147		31
Copper		52		28		6
Total Boddington		314		175		37		1		94		14
Tanami		123		58		15		6		55		28
Kalgoorlie		113		55		5		1		52		4
Other Australia		—		—		1		2		(5)		2
Australia		550		288		58		10		196		48
Ahafo		112		60		15		10		25		36
Akyem		165		73		40		5		45		6
Other Africa		—		—		—		1		(4)		—
Africa		277		133		55		16		66		42
Corporate and Other		—		—		3		14		(111)		2
Consolidated	$	1,875	$	999	$	310	$	83	$	335	$	192

⁽¹⁾ Includes an increase in accrued capital expenditures of $9; consolidated capital expenditures on a cash basis were $183.

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Six Months Ended June 30, 2018
Carlin	$	548	$	377	$	95	$	15	$	55	$	72
Phoenix:
Gold		163		106		25
Copper		47		30		8
Total Phoenix		210		136		33		2		36		18
Twin Creeks		224		130		31		5		64		40
Long Canyon		115		34		38		12		30		5
CC&V		171		81		29		3		51		18
Other North America		—		—		1		13		(15)		4
North America		1,268		758		227		50		221		157
Yanacocha		290		206		52		22		(31)		40
Merian		298		128		42		9		120		49
Other South America		—		—		7		15		(29)		1
South America		588		334		101		46		60		90
Boddington:
Gold		430		258		47
Copper		112		63		12
Total Boddington		542		321		59		—		166		26
Tanami		301		150		35		10		110		47
Kalgoorlie		239		122		12		6		101		13
Other Australia		—		—		3		4		(4)		1
Australia		1,082		593		109		20		373		87
Ahafo		270		180		55		8		22		126
Akyem		271		129		83		7		45		21
Other Africa		—		—		—		2		(5)		—
Africa		541		309		138		17		62		147
Corporate and Other		—		—		5		31		(128)		6
Consolidated	$	3,479	$	1,994	$	580	$	164	$	588	$	487

⁽¹⁾ Includes a decrease in accrued capital expenditures of $2; consolidated capital expenditures on a cash basis were $489.

							Advanced		Income (Loss)
			Costs		Depreciation		Projects, Research		before Income
			Applicable		and		and Development		and Mining Tax		Capital
	Sales		to Sales		Amortization		and Exploration		and Other Items		Expenditures(1)
Six Months Ended June 30, 2017
Carlin	$	543	$	378	$	99	$	8	$	54	$	96
Phoenix:
Gold		121		90		23
Copper		50		34		9
Total Phoenix		171		124		32		4		7		10
Twin Creeks		258		111		31		4		107		17
Long Canyon		96		25		31		10		30		7
CC&V		322		149		65		7		99		8
Other North America		—		—		1		7		(10)		3
North America		1,390		787		259		40		287		141
Yanacocha		328		253		70		12		(50)		20
Merian		283		112		47		8		114		38
Other South America		—		—		7		19		(35)		—
South America		611		365		124		39		29		58
Boddington:
Gold		490		269		57
Copper		97		49		10
Total Boddington		587		318		67		1		180		29
Tanami		215		108		31		9		75		52
Kalgoorlie		217		107		9		3		95		8
Other Australia		—		—		3		3		(20)		3
Australia		1,019		533		110		16		330		92
Ahafo		226		136		38		16		34		53
Akyem		319		135		74		6		100		12
Other Africa		—		—		—		2		(5)		—
Africa		545		271		112		24		129		65
Corporate and Other		—		—		5		26		(246)		4
Consolidated	$	3,565	$	1,956	$	610	$	145	$	529	$	360

⁽¹⁾ Includes a decrease in accrued capital expenditures of $3; consolidated capital expenditures on a cash basis were $363.

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SALES (Tables)

6 Months Ended

Jun. 30, 2018

SALES

Schedule of sales by mining operation, product and by inventory type

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Three Months Ended June 30, 2018
Carlin	$	244	$	—	$	—	$	—	$	244
Phoenix		30		33		9		12		84
Twin Creeks		114		—		—		—		114
Long Canyon		56		—		—		—		56
CC&V		88		—		—		—		88
North America		532		33		9		12		586
Yanacocha		147		—		—		—		147
Merian		132		—		—		—		132
South America		279		—		—		—		279
Boddington		64		156		60		—		280
Tanami		134		—		—		—		134
Kalgoorlie		122		—		—		—		122
Australia		320		156		60		—		536
Ahafo		132		—		—		—		132
Akyem		129		—		—		—		129
Africa		261		—		—		—		261
Consolidated	$	1,392	$	189	$	69	$	12	$	1,662

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Three Months Ended June 30, 2017
Carlin	$	279	$	—	$	—	$	—	$	279
Phoenix		30		37		12		12		91
Twin Creeks		156		—		—		—		156
Long Canyon		57		—		—		—		57
CC&V		161		5		—		—		166
North America		683		42		12		12		749
Yanacocha		149		—		—		—		149
Merian		150		—		—		—		150
South America		299		—		—		—		299
Boddington		64		198		52		—		314
Tanami		123		—		—		—		123
Kalgoorlie		113		—		—		—		113
Australia		300		198		52		—		550
Ahafo		112		—		—		—		112
Akyem		165		—		—		—		165
Africa		277		—		—		—		277
Consolidated	$	1,559	$	240	$	64	$	12	$	1,875

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Six Months Ended June 30, 2018
Carlin	$	548	$	—	$	—	$	—	$	548
Phoenix		71		92		21		26		210
Twin Creeks		224		—		—		—		224
Long Canyon		115		—		—		—		115
CC&V		171		—		—		—		171
North America		1,129		92		21		26		1,268
Yanacocha		290		—		—		—		290
Merian		298		—		—		—		298
South America		588		—		—		—		588
Boddington		123		307		112		—		542
Tanami		301		—		—		—		301
Kalgoorlie		239		—		—		—		239
Australia		663		307		112		—		1,082
Ahafo		270		—		—		—		270
Akyem		271		—		—		—		271
Africa		541		—		—		—		541
Consolidated	$	2,921	$	399	$	133	$	26	$	3,479

			Gold Sales		Copper Sales
	Gold Sales		from		from		Copper Sales
	from Doré		Concentrate		Concentrate		from Cathode
	Production		Production		Production		Production		Total Sales
Six Months Ended June 30, 2017
Carlin	$	543	$	—	$	—	$	—	$	543
Phoenix		54		67		27		23		171
Twin Creeks		258		—		—		—		258
Long Canyon		96		—		—		—		96
CC&V		311		11		—		—		322
North America		1,262		78		27		23		1,390
Yanacocha		328		—		—		—		328
Merian		283		—		—		—		283
South America		611		—		—		—		611
Boddington		123		367		97		—		587
Tanami		215		—		—		—		215
Kalgoorlie		217		—		—		—		217
Australia		555		367		97		—		1,019
Ahafo		226		—		—		—		226
Akyem		319		—		—		—		319
Africa		545		—		—		—		545
Consolidated	$	2,973	$	445	$	124	$	23	$	3,565

Schedule of receivables included within Trade Receivables

	At June 30,		At December 31,
	2018		2017
Receivables from Sales:
Gold sales from doré	$	36	$	—
Gold and copper sales from concentrate production		96		117
Copper sales from cathode production		1		7
Total receivables from Sales	$	133	$	124

ASU No. 2014-09 Revenue Recognition

SALES

Schedule of impact of adoption during period

	Three Months Ended June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Statement of Operations	As Reported		Change		of ASC 606
Sales	$	1,662	$	89	$	1,751
Costs applicable to sales	$	965	$	54	$	1,019
Depreciation and amortization	$	279	$	12	$	291
Income (loss) before income and mining tax and other items	$	305	$	23	$	328
Income and mining tax benefit (expense)	$	(18)	$	(6)	$	(24)
Net income (loss)	$	298	$	17	$	315
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	274	$	17	$	291
Discontinued operations		18		—		18
	$	292	$	17	$	309
Net income (loss) per common share
Basic:
Continuing operations	$	0.52	$	0.03	$	0.55
Discontinued operations		0.03		—		0.03
	$	0.55	$	0.03	$	0.58
Diluted:
Continuing operations	$	0.51	$	0.03	$	0.54
Discontinued operations		0.03		—		0.03
	$	0.54	$	0.03	$	0.57

	Six Months Ended June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Statement of Operations	As Reported		Change		of ASC 606
Sales	$	3,479	$	(16)	$	3,463
Costs applicable to sales	$	1,994	$	(8)	$	1,986
Depreciation and amortization	$	580	$	(2)	$	578
Income (loss) before income and mining tax and other items	$	588	$	(6)	$	582
Income and mining tax benefit (expense)	$	(123)	$	2	$	(121)
Net income (loss)	$	489	$	(4)	$	485
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	444	$	(4)	$	440
Discontinued operations		40		—		40
	$	484	$	(4)	$	480
Net income (loss) per common share
Basic:
Continuing operations	$	0.84	$	(0.01)	$	0.83
Discontinued operations		0.07		—		0.07
	$	0.91	$	(0.01)	$	0.90
Diluted:
Continuing operations	$	0.83	$	(0.01)	$	0.82
Discontinued operations		0.07		—		0.07
	$	0.90	$	(0.01)	$	0.89

	Six Months Ended June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Statement of  Cash Flows	As Reported		Change		of ASC 606
Operating activities:
Net income (loss)	$	489	$	(4)	$	485
Adjustments:
Depreciation and amortization	$	580	$	(2)	$	578
Net change in operating assets and liabilities	$	(510)	$	6	$	(504)
Net cash provided by (used in) operating activities of continuing operations	$	667	$	—	$	667

	At June 30, 2018
					Balance without
			Effect of		Adoption
Condensed Consolidated Balance Sheet	As Reported		Change		of ASC 606
Trade receivables	$	133	$	(16)	$	117
Inventories	$	697	$	10	$	707
Total assets	$	20,655	$	(6)	$	20,649
Income and mining taxes payable	$	71	$	(2)	$	69
Total liabilities	$	8,822	$	(2)	$	8,820
Retained earnings	$	592	$	(4)	$	588
Newmont stockholders' equity	$	10,813	$	(4)	$	10,809
Total equity	$	11,785	$	(4)	$	11,781
Total liabilities and equity	$	20,655	$	(6)	$	20,649

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RECLAMATION AND REMEDIATION (Tables)

6 Months Ended

Jun. 30, 2018

RECLAMATION AND REMEDIATION

Reclamation and Remediation Expense

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Reclamation adjustments	$	—	$	15	$	—	$	15
Reclamation accretion		25		25		49		48
Total reclamation expense		25		40		49		63
Remediation adjustments		11		2	$	14	$	7
Remediation accretion		1		1		2		2
Total remediation expense		12		3	$	16	$	9
	$	37	$	43	$	65	$	72

Reconciliation of Reclamation Liabilities

	2018		2017
Reclamation balance at January 1,	$	2,144	$	1,913
Additions, changes in estimates and other		—		15
Payments, net		(13)		(11)
Accretion expense		49		48
Reclamation balance at June 30,	$	2,180	$	1,965

Reconciliation of Remediation Liabilities

	2018		2017
Remediation balance at January 1,	$	304	$	312
Additions, changes in estimates and other		8		2
Payments, net		(20)		(21)
Accretion expense		2		2
Remediation balance at June 30,	$	294	$	295

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OTHER EXPENSE, NET (Tables)

6 Months Ended

Jun. 30, 2018

OTHER EXPENSE, NET

Other Expense, Net

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Restructuring and other	$	9	$	1	$	15	$	8
Acquisition cost adjustments		—		3		—		5
Impairment of long-lived assets		—		—		—		3
Other		4		10		9		15
	$	13	$	14	$	24	$	31

XML

OTHER INCOME, NET (Tables)

6 Months Ended

Jun. 30, 2018

OTHER INCOME, NET.

Other Income, Net

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Gain (loss) on asset and investment sales, net	$	100	$	14	$	99	$	16
Interest		13		6		24		10
Foreign currency exchange, net		14		(4)		21		(21)
Change in fair value of marketable equity securities		5		—		5		—
Tanami insurance proceeds		—		13		—		13
Other		7		2		11		4
	$	139	$	31	$	160	$	22

XML

INCOME AND MINING TAXES (Tables)

6 Months Ended

Jun. 30, 2018

INCOME AND MINING TAXES

Income and Mining Tax Expense Reconciliation

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2017				2018				2017
Income (loss) before income and mining tax and other items			$	305			$	335			$	588			$	529
U.S. Federal statutory tax rate	21	%	$	64	35	%	$	117	21	%	$	123	35	%	$	185
Reconciling items:
Percentage depletion	(3)			(8)	(13)			(42)	(4)			(25)	(14)			(74)
Change in valuation allowance on deferred tax assets	(5)			(15)	21			72	1			3	26			139
Adjustment to provisional expense related to the Tax Cuts and Job Act	(15)			(45)	—			—	(8)			(45)	—			—
Mining and other taxes	3			9	5			16	5			30	7			35
Foreign rate differential	5			15	—			—	8			46	—			—
Other	—			(2)	2			3	(2)			(9)	(2)			(8)
Income and mining tax expense	6	%	$	18	50	%	$	166	21	%	$	123	52	%	$	277

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NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2018

NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS

Schedule of Net income (loss) from discontinued operations

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Holt royalty obligation	$	17	$	(15)	$	36	$	(38)
Batu Hijau contingent consideration (1)		1		—		4		—
Net income (loss) from discontinued operations	$	18	$	(15)	$	40	$	(38)

(1) See Note 15 for details on the Batu Hijau contingent consideration.

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NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS (Tables)

6 Months Ended

Jun. 30, 2018

NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

Schedule of Net Income (Loss) Attributable to Noncontrolling Interests

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Merian	$	11	$	13	$	28	$	26
Yanacocha		(5)		(37)		(23)		(38)
Other		—		—		—		(1)
	$	6	$	(24)	$	5	$	(13)

Schedule summarizing the consolidated assets and liabilities of VIE

	At June 30,  2018		At December 31, 2017
Current assets:
Cash and cash equivalents	$	44	$	27
Trade receivables		23		—
Inventories		81		79
Stockpiles and ore on leach pads		31		21
Other current assets (1)		4		6
		183		133
Non-current assets:
Property, plant and mine development, net		777		769
Other non-current assets (2)		3		8
Total assets	$	963	$	910
Current liabilities:
Accounts payable	$	27	$	22
Other current liabilities (3)		26		28
		53		50
Non-current liabilities:
Reclamation and remediation liabilities		18		18
Other non-current liabilities (4)		1		1
Total liabilities	$	72	$	69

⁽¹⁾ Other current assets include other accounts receivables, prepaid assets and other current assets.

⁽²⁾ Other non-current assets include intangibles, stockpiles and ore on leach pads.

⁽³⁾ Other current liabilities include employee-related benefits and other current liabilities.

⁽⁴⁾ Other non-current liabilities include employee-related benefits.

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NET INCOME (LOSS) PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2018

NET INCOME (LOSS) PER COMMON SHARE

Summary of Income (Loss) per Common Share, Basic and Diluted

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	274	$	190	$	444	$	260
Discontinued operations		18		(15)		40		(38)
	$	292	$	175	$	484	$	222
Weighted average common shares (millions):
Basic		533		533		534		533
Effect of employee stock-based awards		2		2		1		1
Diluted		535		535		535		534
Net income (loss) per common share attributable to Newmont stockholders:
Basic:
Continuing operations	$	0.52	$	0.36	$	0.84	$	0.49
Discontinued operations		0.03		(0.03)		0.07		(0.07)
	$	0.55	$	0.33	$	0.91	$	0.42
Diluted:
Continuing operations	$	0.51	$	0.36	$	0.83	$	0.49
Discontinued operations		0.03		(0.03)		0.07		(0.07)
	$	0.54	$	0.33	$	0.90	$	0.42

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EMPLOYEE PENSION AND OTHER BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2018

Pension Benefits

EMPLOYEE-RELATED BENEFITS

Schedule of components of the net periodic pension and other benefits costs

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Pension benefit costs, net (1):
Service cost	$	8	$	8	$	16	$	15
Interest cost		11		11		21		22
Expected return on plan assets		(17)		(16)		(34)		(31)
Amortization, net		8		7		16		14
Settlements		—		—		—		4
	$	10	$	10	$	19	$	24

Other Benefits

EMPLOYEE-RELATED BENEFITS

Schedule of components of the net periodic pension and other benefits costs

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Other benefit costs (credits), net (1):
Service cost	$	1	$	1	$	1	$	1
Interest cost	$	1	$	1	$	2	$	2
Amortization, net		(2)		(3)		(4)		(4)
	$	—	$	(1)	$	(1)	$	(1)

⁽¹⁾ Service costs are included in Costs applicable to sales or General and administrative and the other components of benefit costs and settlements are included in Other income, net.

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STOCK BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2018

STOCK-BASED COMPENSATION

Schedule of stock based compensation by award

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Stock-based compensation:
Performance leveraged stock units	$	7	$	9	$	16	$	17
Restricted stock units		12		10		22		17
Strategic stock units		—		—		—		1
	$	19	$	19	$	38	$	35

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FAIR VALUE ACCOUNTING (Tables)

6 Months Ended

Jun. 30, 2018

FAIR VALUE ACCOUNTING

Fair Value Measurement of Assets and Liabilities

	Fair Value at June 30, 2018
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	3,127	$	3,127	$	—	$	—
Restricted cash		83		83		—		—
Trade receivable from provisional gold and copper concentrate sales, net		86		—		86		—
Diesel forward derivative contracts		7		—		7		—
Marketable equity securities		178		166		12		—
Restricted marketable debt securities		51		22		29		—
Restricted other assets		7		7		—		—
Batu Hijau contingent consideration		27		—		—		27
	$	3,566	$	3,405	$	134	$	27
Liabilities:
Debt (1)	$	4,391	$	—	$	4,391	$	—
Holt royalty obligation		193		—		—		193
	$	4,584	$	—	$	4,391	$	193

	Fair Value at December 31, 2017
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	3,259	$	3,259	$	—	$	—
Restricted cash		39		39		—		—
Trade receivable from provisional gold and copper concentrate sales, net		111		—		111		—
Diesel forward derivative contracts		6		—		6		—
Marketable equity securities		165		165		—		—
Restricted marketable debt securities		55		17		38		—
Restricted other assets		9		9		—		—
Batu Hijau contingent consideration		23		—		—		23
	$	3,667	$	3,489	$	155	$	23
Liabilities:
Debt (1)	$	4,671	$	—	$	4,671	$	—
Foreign exchange forward derivative contracts		1		—		1		—
Holt royalty obligation		243		—		—		243
	$	4,915	$	—	$	4,672	$	243

⁽¹⁾ Debt, exclusive of capital leases, is carried at amortized cost. The outstanding carrying value was $4,042 and $4,040 at June 30, 2018 and December 31, 2017, respectively. The fair value measurement of debt was based on an independent third party pricing source.

Fair Value Inputs Assets Liabilities Quantitative Information

	At June 30,				Range/Weighted
Description	2018		Valuation technique	Unobservable input	average
Batu Hijau contingent consideration	$	27	Monte Carlo	Discount rate		17.50	%
				Short-term copper price	$	3.12
				Long-term copper price	$	3.00
Holt royalty obligation	$	193	Monte Carlo	Discount rate		3.99	%
				Short-term gold price	$	1,306
				Long-term gold price	$	1,300
				Gold production scenarios (in 000's of ounces)		334 - 1,576

	At December 31,				Range/Weighted
Description	2017		Valuation technique	Unobservable input	average
Batu Hijau contingent consideration	$	23	Monte Carlo	Discount rate		17.50	%
				Short-term copper price	$	3.09
				Long-term copper price	$	3.00
Holt royalty obligation	$	243	Monte Carlo	Discount rate		3.32	%
				Short-term gold price	$	1,275
				Long-term gold price	$	1,300
				Gold production scenarios (in 000's of ounces)		402 - 1,779

Changes in the Fair Value of the Company's Level 3 Financial Assets

	Batu Hijau				Holt
	Contingent		Total		Royalty		Total
	Consideration (1)		Assets		Obligation (1)		Liabilities
Fair value at December 31, 2017	$	23	$	23	$	243	$	243
Settlements		—		—		(5)		(5)
Revaluation		4		4		(45)		(45)
Fair value at June 30, 2018	$	27	$	27	$	193	$	193

	Asset
	Backed		Batu Hijau				Holt
	Commercial		Contingent		Total		Royalty		Total
	Paper (2)		Consideration (1)		Assets		Obligation (1)		Liabilities
Fair value at December 31, 2016	$	18	$	13	$	31	$	187	$	187
Settlements		(18)		—		(18)		(6)		(6)
Revaluation		—		—		—		59		59
Fair value at June 30, 2017	$	—	$	13	$	13	$	240	$	240

⁽¹⁾ The gain (loss) recognized is included in Net income (loss) from discontinued operations.

⁽²⁾ The gain (loss) recognized is included in Other income, net.

.

Changes in the Fair Value of the Company's Level 3 Financial Liabilities

	Asset
	Backed		Batu Hijau				Holt
	Commercial		Contingent		Total		Royalty		Total
	Paper (1)		Consideration (2)		Assets		Obligation (2)		Liabilities
Fair value at December 31, 2017	$	—	$	23	$	23	$	243	$	243
Settlements		—		—		—		(5)		(5)
Revaluation		—		4		4		(45)		(45)
Fair value at June 30, 2018	$	—	$	27	$	27	$	193	$	193

	Asset
	Backed		Batu Hijau				Holt
	Commercial		Contingent		Total		Royalty		Total
	Paper (2)		Consideration (1)		Assets		Obligation (1)		Liabilities
Fair value at December 31, 2016	$	18	$	13	$	31	$	187	$	187
Settlements		(18)		—		(18)		(6)		(6)
Revaluation		—		—		—		59		59
Fair value at June 30, 2017	$	—	$	13	$	13	$	240	$	240

(1)The gain (loss) recognized is included in Net income (loss) from discontinued operations.

(2)The gain (loss) recognized is included in Other income, net.

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DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2018

DERIVATIVE INSTRUMENTS

Fair Values of Derivative Instruments Designated as Hedges

	Fair Values of Derivative Instruments
	At June 30, 2018
	Other		Other		Other		Other
	Current		Non-current		Current		Non-current
	Assets		Assets		Liabilities		Liabilities
Diesel fixed forwards	$	5	$	2	$	—	$	—

	Fair Values of Derivative Instruments
	At December 31, 2017
	Other		Other		Other		Other
	Current		Non-current		Current		Non-current
	Assets		Assets		Liabilities		Liabilities
A$ operating fixed forwards	$	—	$	—	$	1	$	—
Diesel fixed forwards		6		—		—		—
	$	6	$	—	$	1	$	—

Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)								Affected Line Item in the Condensed Consolidated Statements of Operations
	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Pension and other post-retirement benefit adjustments:
Amortization	$	6	$	4	$	12	$	10	Other income, net
Settlements		—		—		—		4	Other income, net
Total before tax		6		4		12		14
Tax		(2)		(1)		(3)		(5)
Net of tax	$	4	$	3	$	9	$	9
Hedge instruments adjustments:
Operating cash flow hedges	$	—	$	8	$	1	$	18	Costs applicable to sales
Interest rate contracts		3		3		6		5	Interest expense, net
Total before tax		3		11		7		23
Tax		(1)		(4)		(2)		(8)
Net of tax	$	2	$	7	$	5	$	15
Total reclassifications for the period, net of tax	$	6	$	10	$	14	$	24

Location and Amount of Gains (Losses) Reported in Consolidated Financial Statements

	Foreign Currency				Diesel Fixed				Interest
	Exchange Contracts				Forward Contracts				Rate Contracts
	2018		2017		2018		2017		2018		2017
For the three months ended June 30,
Cash flow hedging relationships:
(Gain) loss recognized in Other comprehensive income (loss)	$	—	$	—	$	(4)	$	3	$	—	$	—
(Gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss)	$	2	$	7	$	(2)	$	1	$	3	$	3
For the six months ended June 30,
Cash flow hedging relationships:
(Gain) loss recognized in Other comprehensive income (loss)	$	—	$	(4)	$	(5)	$	6	$	—	$	—
(Gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss)	$	5	$	15	$	(4)	$	3	$	6	$	5

Cash Flow Hedges

DERIVATIVE INSTRUMENTS

Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

	(Gain) Loss Recognized from Cash Flow Hedges
	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Total Costs applicable to sales	$	965	$	999	$	1,994	$	1,956
Amount of (gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss) from diesel hedging instruments	$	(2)	$	1	$	(4)	$	3
Amount of (gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss) from foreign currency hedging instruments	$	2	$	7	$	5	$	15
Total Interest expense, net	$	49	$	64	$	102	$	131
Amount of (gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss) from discontinued interest rate hedging instruments	$	3	$	3	$	6	$	5

Cash Flow Hedges | Diesel forward contracts

DERIVATIVE INSTRUMENTS

Outstanding Derivative Contracts

	Expected Maturity Date
					Total/
	2018	2019	2020	2021	Average
Diesel Fixed Forward Contracts:
North America
Diesel gallons (millions)	7	3	3	1	14
Average rate ($/gallon)	1.68	1.78	1.97	2.04	1.79
South America
Diesel gallons (millions)	—	—	2	—	2
Average rate ($/gallon)	—	—	1.88	1.99	1.89
Australia
Diesel barrels (thousands)	—	12	73	17	102
Average rate ($/barrel)	—	85.93	77.06	79.69	78.54

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INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2018

INVESTMENTS

Schedule of investments

	At June 30, 2018
	Fair Value/
	Equity Basis (1)
Current:
Marketable equity securities	$	56
Non-current:
Marketable equity securities:
Continental Gold Inc.	$	108
Warrants		12
Other marketable equity securities		2
		122
Other investments		5
Equity method investments:
TMAC Resources Inc. (28.71%)		102
Maverix Metals Inc. (27.98%)		78
Minera La Zanja S.R.L. (46.94%)		46
		226
	$	353
Non-current restricted investments: (2)
Marketable debt securities (3)	$	51
Other assets		7
	$	58

Schedule of reconciliation of cost to fair value for Available-for-sale and other investments

	At December 31, 2017
	Cost/Equity		Unrealized				Fair Value/
	Basis		Gain		Loss		Equity Basis (1)
Current:
Marketable equity securities	$	38	$	32	$	(8)	$	62
Non-current:
Marketable equity securities:
Continental Gold Inc.	$	109	$	—	$	(8)	$	101
Warrants		7		—		—		7
Other marketable equity securities		4		—		(2)		2
		120		—		(10)		110
Other investments		5		—		—		5
Equity method investments:
TMAC Resources Inc. (28.79%)		115		—		—		115
Minera La Zanja S.R.L. (46.94%)		50		—		—		50
		165		—		—		165
	$	290	$	—	$	(10)	$	280
Non-current restricted investments: (2)
Marketable debt securities	$	58	$	—	$	(3)	$	55
Other assets		8		1		—		9
	$	66	$	1	$	(3)	$	64

⁽¹⁾ Subsequent to the adoption of ASU No. 2016-01 on January 1, 2018, unrealized gains and losses related to marketable equity securities are recorded in Other income, net. Previously, gains and losses related to unrealized marketable equity securities were recorded in Other comprehensive income (loss).

⁽²⁾ Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. For further information regarding these amounts, see Note 5.

⁽³⁾ There were nominal unrealized gains or losses recorded in Accumulated other comprehensive income (loss) as of June 30, 2018, related to marketable debt securities.

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INVENTORIES (Tables)

6 Months Ended

Jun. 30, 2018

Inventories

Summary of Inventories

	At June 30,		At December 31,
	2018		2017
Materials and supplies	$	436	$	416
In-process		135		131
Concentrate and copper cathode		91		83
Precious metals		35		49
	$	697	$	679

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STOCKPILES AND ORE ON LEACH PADS (Tables)

6 Months Ended

Jun. 30, 2018

STOCKPILES AND ORE ON LEACH PADS

Stockpiles and Ore on Leach Pads

	At June 30,		At December 31,
	2018		2017
Current:
Stockpiles	$	351	$	330
Ore on leach pads		360		346
	$	711	$	676
Non-current:
Stockpiles	$	1,454	$	1,502
Ore on leach pads		383		346
	$	1,837	$	1,848

Stockpiles and Ore on Leach Pads, by Segment

	At June 30,		At December 31,
	2018		2017
Stockpiles and ore on leach pads:
Carlin	$	469	$	441
Phoenix		68		68
Twin Creeks		329		340
Long Canyon		45		34
CC&V		333		314
Yanacocha		263		270
Merian		31		25
Boddington		445		431
Tanami		1		4
Kalgoorlie		126		125
Ahafo		386		409
Akyem		52		63
	$	2,548	$	2,524

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OTHER LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2018

OTHER LIABILITIES

Other Liabilities

	At June 30,		At December 31,
	2018		2017
Other current liabilities:
Accrued operating costs	$	109	$	124
Reclamation and remediation liabilities		105		103
Accrued capital expenditures		69		77
Accrued interest		52		52
Royalties		37		63
Holt royalty obligation		14		15
Taxes other than income and mining		5		7
Derivative instruments		—		1
Other		5		20
	$	396	$	462
Other non-current liabilities:
Holt royalty obligation	$	179	$	228
Income and mining taxes		43		47
Power supply agreements		30		32
Social development obligations		21		22
Other		11		13
	$	284	$	342

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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Jun. 30, 2018

RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Change in Accumulated Other Comprehensive Income (Loss)

					Pension and		Unrealized Gain
	Unrealized Gain		Foreign		Other		(Loss) on
	(Loss) on		Currency		Post-retirement		Cash flow
	Marketable		Translation		Benefit		Hedge
	Securities, net		Adjustments		Adjustments		Instruments		Total
Balance at December 31, 2017	$	(116)	$	130	$	(208)	$	(98)	$	(292)
Cumulative effect adjustment of adopting ASU No. 2016-01		115		—		—		—		115
Net current-period other comprehensive income (loss):
Change in other comprehensive income (loss) before reclassifications		1		(4)		—		4		1
Reclassifications from accumulated other comprehensive income (loss)		—		—		9		5		14
Other comprehensive income (loss)	$	1	$	(4)	$	9	$	9	$	15
Balance at June 30, 2018	$	—	$	126	$	(199)	$	(89)	$	(162)

Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)								Affected Line Item in the Condensed Consolidated Statements of Operations
	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Pension and other post-retirement benefit adjustments:
Amortization	$	6	$	4	$	12	$	10	Other income, net
Settlements		—		—		—		4	Other income, net
Total before tax		6		4		12		14
Tax		(2)		(1)		(3)		(5)
Net of tax	$	4	$	3	$	9	$	9
Hedge instruments adjustments:
Operating cash flow hedges	$	—	$	8	$	1	$	18	Costs applicable to sales
Interest rate contracts		3		3		6		5	Interest expense, net
Total before tax		3		11		7		23
Tax		(1)		(4)		(2)		(8)
Net of tax	$	2	$	7	$	5	$	15
Total reclassifications for the period, net of tax	$	6	$	10	$	14	$	24

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NET CHANGE IN OPERATING ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2018

NET CHANGE IN OPERATING ASSETS AND LIABILITIES

Net cash provided by (used in) operating activities of continuing operations attributable to the net change in operating assets and liabilities

	Six Months Ended June 30,
	2018		2017
Decrease (increase) in operating assets:
Trade and other accounts receivables	$	37	$	(22)
Inventories, stockpiles and ore on leach pads		(211)		(118)
Other assets		(17)		—
Increase (decrease) in operating liabilities:
Accounts payable and other accrued liabilities		(123)		(128)
Reclamation and remediation liabilities		(33)		(32)
Accrued tax liabilities		(163)		32
	$	(510)	$	(268)

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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)

6 Months Ended

Jun. 30, 2018

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Condensed Consolidating Statement of Operation

	Three Months Ended June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	419	$	1,243	$	—	$	1,662
Costs and expenses:
Costs applicable to sales (1)		—		281		684		—		965
Depreciation and amortization		1		75		203		—		279
Reclamation and remediation		—		4		33		—		37
Exploration		—		15		39		—		54
Advanced projects, research and development		—		8		28		—		36
General and administrative		—		22		41		—		63
Other expense, net		—		1		12		—		13
		1		406		1,040		—		1,447
Other income (expense):
Other income, net		(5)		20		124		—		139
Interest income - intercompany		17		11		12		(40)		—
Interest expense - intercompany		(11)		—		(29)		40		—
Interest expense, net		(48)		—		(1)		—		(49)
		(47)		31		106		—		90
Income (loss) before income and mining tax and other items		(48)		44		309		—		305
Income and mining tax benefit (expense)		10		(7)		(21)		—		(18)
Equity income (loss) of affiliates		330		(20)		(7)		(310)		(7)
Net income (loss) from continuing operations		292		17		281		(310)		280
Net income (loss) from discontinued operations		—		—		18		—		18
Net income (loss)		292		17		299		(310)		298
Net loss (income) attributable to noncontrolling interests:		—		—		(6)		—		(6)
Net income (loss) attributable to Newmont stockholders	$	292	$	17	$	293	$	(310)	$	292
Comprehensive income (loss)	$	299	$	17	$	299	$	(310)	$	305
Comprehensive loss (income) attributable to noncontrolling interests		—		—		(6)		—		(6)
Comprehensive income (loss) attributable to Newmont stockholders	$	299	$	17	$	293	$	(310)	$	299

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

	Three Months Ended June 30, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	517	$	1,358	$	—	$	1,875
Costs and expenses:
Costs applicable to sales (1)		—		280		719		—		999
Depreciation and amortization		1		82		227		—		310
Reclamation and remediation		—		4		39		—		43
Exploration		—		13		38		—		51
Advanced projects, research and development		—		2		30		—		32
General and administrative		—		18		40		—		58
Other expense, net		—		2		12		—		14
		1		401		1,105		—		1,507
Other income (expense):
Other income, net		23		3		5		—		31
Interest income - intercompany		23		24		15		(62)		—
Interest expense - intercompany		(14)		(4)		(44)		62		—
Interest expense, net		(59)		(1)		(4)		—		(64)
		(27)		22		(28)		—		(33)
Income (loss) before income and mining tax and other items		(28)		138		225		—		335
Income and mining tax benefit (expense)		9		(22)		(153)		—		(166)
Equity income (loss) of affiliates		194		(150)		(11)		(36)		(3)
Net income (loss) from continuing operations		175		(34)		61		(36)		166
Net income (loss) from discontinued operations		—		—		(15)		—		(15)
Net income (loss)		175		(34)		46		(36)		151
Net loss (income) attributable to noncontrolling interests		—		—		24		—		24
Net income (loss) attributable to Newmont stockholders		175		(34)		70		(36)		175
Comprehensive income (loss)		179		(29)		41		(36)		155
Comprehensive loss (income) attributable to noncontrolling interests		—		—		24		—		24
Comprehensive income (loss) attributable to Newmont stockholders	$	179	$	(29)	$	65	$	(36)	$	179

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

	Six Months Ended June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	931	$	2,548	$	—	$	3,479
Costs and expenses:
Costs applicable to sales (1)		—		605		1,389		—		1,994
Depreciation and amortization		2		162		416		—		580
Reclamation and remediation		—		7		58		—		65
Exploration		—		26		68		—		94
Advanced projects, research and development		—		14		56		—		70
General and administrative		—		41		81		—		122
Other expense, net		—		2		22		—		24
		2		857		2,090		—		2,949
Other income (expense):
Other income, net		3		27		130		—		160
Interest income - intercompany		51		22		21		(94)		—
Interest expense - intercompany		(19)		—		(75)		94		—
Interest expense, net		(97)		(2)		(3)		—		(102)
		(62)		47		73		—		58
Income (loss) before income and mining tax and other items		(64)		121		531		—		588
Income and mining tax benefit (expense)		13		(21)		(115)		—		(123)
Equity income (loss) of affiliates		535		(77)		(16)		(458)		(16)
Net income (loss) from continuing operations		484		23		400		(458)		449
Net income (loss) from discontinued operations		—		—		40		—		40
Net income (loss)		484		23		440		(458)		489
Net loss (income) attributable to noncontrolling interests		—		—		(5)		—		(5)
Net income (loss) attributable to Newmont stockholders	$	484	$	23	$	435	$	(458)	$	484
Comprehensive income (loss)	$	499	$	23	$	440	$	(458)	$	504
Comprehensive loss (income) attributable to noncontrolling interests		—		—		(5)		—		(5)
Comprehensive income (loss) attributable to Newmont stockholders	$	499	$	23	$	435	$	(458)	$	499

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

	Six Months Ended June 30, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Operation	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Sales	$	—	$	941	$	2,624	$	—	$	3,565
Costs and expenses:
Costs applicable to sales (1)		—		583		1,373		—		1,956
Depreciation and amortization		2		165		443		—		610
Reclamation and remediation		—		7		65		—		72
Exploration		—		22		65		—		87
Advanced projects, research and development		—		3		55		—		58
General and administrative		—		35		78		—		113
Other expense, net		—		8		23		—		31
		2		823		2,102		—		2,927
Other income (expense):
Other income, net		26		3		(7)		—		22
Interest income - intercompany		47		24		22		(93)		—
Interest expense - intercompany		(22)		(4)		(67)		93		—
Interest expense, net		(121)		(3)		(7)		—		(131)
		(70)		20		(59)		—		(109)
Income (loss) before income and mining tax and other items		(72)		138		463		—		529
Income and mining tax benefit (expense)		25		(22)		(280)		—		(277)
Equity income (loss) of affiliates		269		(234)		(13)		(27)		(5)
Net income (loss) from continuing operations		222		(118)		170		(27)		247
Net income (loss) from discontinued operations		—		—		(38)		—		(38)
Net income (loss)		222		(118)		132		(27)		209
Net loss (income) attributable to noncontrolling interests		—		—		13		—		13
Net income (loss) attributable to Newmont stockholders	$	222	$	(118)	$	145	$	(27)	$	222
Comprehensive income (loss)	$	238	$	(109)	$	123	$	(27)	$	225
Comprehensive loss (income) attributable to noncontrolling interests		—		—		13		—		13
Comprehensive income (loss) attributable to Newmont stockholders	$	238	$	(109)	$	136	$	(27)	$	238

⁽¹⁾ Excludes Depreciation and amortization and Reclamation and remediation.

Condensed Consolidating Statement of Cash Flows

	Six Months Ended June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
Net cash provided by (used in) operating activities of continuing operations	$	(63)	$	251	$	479	$	—	$	667
Net cash provided by (used in) operating activities of discontinued operations		—		—		(5)		—		(5)
Net cash provided by (used in) operating activities		(63)		251		474		—		662
Investing activities:
Additions to property, plant and mine development		—		(125)		(364)		—		(489)
Acquisitions, net		—		—		(39)		—		(39)
Proceeds from sales of investments		—		11		4		—		15
Purchases of investments		—		—		(6)		—		(6)
Other		—		2		—		—		2
Net cash provided by (used in) investing activities		—		(112)		(405)		—		(517)
Financing activities:
Dividends paid to common stockholders		(150)		—		—		—		(150)
Repurchase of common stock		(70)		—		—		—		(70)
Distributions to noncontrolling interests		—		—		(69)		—		(69)
Funding from noncontrolling interests		—		—		52		—		52
Proceeds from sale of noncontrolling interests		—		—		48		—		48
Payments for withholding of employee taxes related to stock-based compensation		—		(39)		—		—		(39)
Net intercompany borrowings (repayments)		283		(99)		(184)		—		—
Other		—		(1)		(2)		—		(3)
Net cash provided by (used in) financing activities		63		(139)		(155)		—		(231)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		—		—		(2)		—		(2)
Net change in cash, cash equivalents and restricted cash		—		—		(88)		—		(88)
Cash, cash equivalents and restricted cash at beginning of period		—		—		3,298		—		3,298
Cash, cash equivalents and restricted cash at end of period	$	—	$	—	$	3,210	$	—	$	3,210
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	—	$	—	$	3,127	$	—	$	3,127
Restricted cash included in Other current assets		—		—		1		—		1
Restricted cash included in Other noncurrent assets		—		—		82		—		82
Total cash, cash equivalents and restricted cash	$	—	$	—	$	3,210	$	—	$	3,210

	Six Months Ended June 30, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Statement of Cash Flows	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Operating activities:
Net cash provided by (used in) operating activities of continuing operations	$	(116)	$	222	$	796	$	—	$	902
Net cash provided by (used in) operating activities of discontinued operations		—		—		(9)		—		(9)
Net cash provided by (used in) operating activities		(116)		222		787		—		893
Investing activities:
Additions to property, plant and mine development		—		(121)		(242)		—		(363)
Acquisitions, net		—		—		—		—		—
Proceeds from sales of investments		—		—		19		—		19
Purchases of investments		(109)		—		(4)		—		(113)
Other		—		2		15		—		17
Net cash provided by (used in) investing activities		(109)		(119)		(212)		—		(440)
Financing activities:
Dividends paid to common stockholders		(54)		—		—		—		(54)
Repurchase of common stock		—		—		—		—		—
Distributions to noncontrolling interests		—		—		(80)		—		(80)
Funding from noncontrolling interests		—		—		46		—		46
Proceeds from sale of noncontrolling interests		—		—		—		—		—
Payments for withholding of employee taxes related to stock-based compensation		—		(13)		—		—		(13)
Net intercompany borrowings (repayments)		282		(90)		(192)		—		—
Other		(3)		(1)		(2)		—		(6)
Net cash provided by (used in) financing activities		225		(104)		(228)		—		(107)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		—		—		2		—		2
Net change in cash, cash equivalents and restricted cash		—		(1)		349		—		348
Cash, cash equivalents and restricted cash at beginning of period		—		1		2,781		—		2,782
Cash, cash equivalents and restricted cash at end of period	$	—	$	—	$	3,130	$	—	$	3,130
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	—	$	—	$	3,105	$	—	$	3,105
Restricted cash included in Other current assets		—		—		2		—		2
Restricted cash included in Other noncurrent assets		—		—		23		—		23
Total cash, cash equivalents and restricted cash	$	—	$	—	$	3,130	$	—	$	3,130

Condensed Consolidating Balance Sheet

	At June 30, 2018
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets:
Cash and cash equivalents	$	—	$	—	$	3,127	$	—	$	3,127
Trade receivables		—		15		118		—		133
Other accounts receivables		—		—		101		—		101
Intercompany receivable		2,075		4,882		3,692		(10,649)		—
Investments		—		—		56		—		56
Inventories		—		167		530		—		697
Stockpiles and ore on leach pads		—		215		496		—		711
Other current assets		—		40		102		—		142
Current assets		2,075		5,319		8,222		(10,649)		4,967
Property, plant and mine development, net		16		3,059		9,303		(27)		12,351
Investments		113		5		235		—		353
Investments in subsidiaries		13,250		(463)		16		(12,803)		—
Stockpiles and ore on leach pads		—		643		1,194		—		1,837
Deferred income tax assets		87		—		450		—		537
Non-current intercompany receivable		738		527		6		(1,271)		—
Other non-current assets		—		244		366		—		610
Total assets	$	16,279	$	9,334	$	19,792	$	(24,750)	$	20,655
Liabilities:
Lease and other financing obligations	$	—	$	1	$	12	$	—	$	13
Accounts payable		—		74		286		—		360
Intercompany payable		1,364		2,529		6,756		(10,649)		—
Employee-related benefits		—		100		140		—		240
Income and mining taxes		—		8		63		—		71
Other current liabilities		52		115		229		—		396
Current liabilities		1,416		2,827		7,486		(10,649)		1,080
Debt		4,042		—		—		—		4,042
Lease and other financing obligations		—		3		63		—		66
Reclamation and remediation liabilities		—		312		2,057		—		2,369
Deferred income tax liabilities		—		125		464		—		589
Employee-related benefits		1		223		168		—		392
Non-current intercompany payable		7		—		1,291		(1,298)		—
Other non-current liabilities		—		13		271		—		284
Total liabilities		5,466		3,503		11,800		(11,947)		8,822
Contingently redeemable noncontrolling interest		—		—		48		—		48
Equity:
Newmont stockholders’ equity		10,813		5,831		6,972		(12,803)		10,813
Noncontrolling interests		—		—		972		—		972
Total equity		10,813		5,831		7,944		(12,803)		11,785
Total liabilities and equity	$	16,279	$	9,334	$	19,792	$	(24,750)	$	20,655

	At December 31, 2017
	(Issuer)		(Guarantor)		(Non-Guarantor)				Newmont
	Newmont								Mining
	Mining		Newmont		Other				Corporation
Condensed Consolidating Balance Sheet	Corporation		USA		Subsidiaries		Eliminations		Consolidated
Assets:
Cash and cash equivalents	$	—	$	—	$	3,259	$	—	$	3,259
Trade receivables		—		18		106		—		124
Other accounts receivables		—		—		113		—		113
Intercompany receivable		2,053		4,601		3,484		(10,138)		—
Investments		—		—		62		—		62
Inventories		—		181		498		—		679
Stockpiles and ore on leach pads		—		196		480		—		676
Other current assets		—		38		115		—		153
Current assets		2,053		5,034		8,117		(10,138)		5,066
Property, plant and mine development, net		17		3,082		9,266		(27)		12,338
Investments		106		4		170		—		280
Investments in subsidiaries		12,012		(311)		—		(11,701)		—
Stockpiles and ore on leach pads		—		648		1,200		—		1,848
Deferred income tax assets		84		5		460		—		549
Non-current intercompany receivable		1,700		401		7		(2,108)		—
Other non-current assets		—		255		310		—		565
Total assets	$	15,972	$	9,118	$	19,530	$	(23,974)	$	20,646
Liabilities:
Lease and other financing obligations	$	—	$	1	$	3	$	—	$	4
Accounts payable		—		83		292		—		375
Intercompany payable		1,338		2,145		6,655		(10,138)		—
Employee-related benefits		—		143		166		—		309
Income and mining taxes		—		18		230		—		248
Other current liabilities		52		163		247		—		462
Current liabilities		1,390		2,553		7,593		(10,138)		1,398
Debt		4,040		—		—		—		4,040
Lease and other financing obligations		—		4		17		—		21
Reclamation and remediation liabilities		—		309		2,036		—		2,345
Deferred income tax liabilities		—		121		474		—		595
Employee-related benefits		—		222		164		—		386
Non-current intercompany payable		7		—		2,128		(2,135)		—
Other non-current liabilities		—		18		324		—		342
Total liabilities		5,437		3,227		12,736		(12,273)		9,127
Contingently redeemable noncontrolling interest		—		—		—		—		—
Equity:
Newmont stockholders’ equity		10,535		5,891		5,810		(11,701)		10,535
Noncontrolling interests		—		—		984		—		984
Total equity		10,535		5,891		6,794		(11,701)		11,519
Total liabilities and equity	$	15,972	$	9,118	$	19,530	$	(23,974)	$	20,646

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Adopted Accounting Pronouncements - Revenue Recognition (Details)	6 Months Ended
	Jun. 30, 2018
Revenue recognition
Dore' market standard for percentage of gold	99.95%
Minimum
Revenue recognition
Co-product accounting, percent of metal mined as a percent of the life of mine sales value	10.00%
Product accounting, percent of metal mined as a percent of the life of mine sales value	10.00%
Maximum
Revenue recognition
Co-product accounting, percent of metal mined as a percent of the life of mine sales value	20.00%
Product accounting, percent of metal mined as a percent of the life of mine sales value	20.00%

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Adopted Accounting Pronouncements - Cumulative Effect Revenue Recognition (Details) - ASU No. 2014-09 Revenue Recognition $ in Millions	Jan. 31, 2018 USD ($)	Dec. 31, 2017 contract
Revenue Recognition
Number of contracts outstanding | contract		0
Effect of Change
Revenue Recognition
Cumulative effect adjustment | $	$ 0

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Adopted Accounting Pronouncements - Investments (Details) - ASU No. 2016-01 - USD ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss)
Recently Adopted Accounting Pronouncements
Cumulative effect adjustment		$ 115
Retained Earnings
Recently Adopted Accounting Pronouncements
Cumulative effect adjustment		$ (115)
Adjustments | Accumulated Other Comprehensive Income (Loss)
Recently Adopted Accounting Pronouncements
Cumulative effect adjustment	$ 115
Adjustments | Retained Earnings
Recently Adopted Accounting Pronouncements
Cumulative effect adjustment	$ (115)

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Adopted Accounting Pronouncements - Cash flow impact (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Statement of cash flows
Net cash provided by (used in) investing activities	$ (517)	$ (440)
Net cash provided by (used in) operating activities	$ 662	893
Adjustments | ASU No. 2016-15 Statement of Cash Flows
Statement of cash flows
Net cash provided by (used in) investing activities		6
Net cash provided by (used in) operating activities		$ (6)

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SEGMENT INFORMATION - Financial Information Table (Details) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) segment	Jun. 30, 2017 USD ($)
Segment Information
Sales (Note 4)		$ 1,662	$ 1,875	$ 3,479	$ 3,565
Costs applicable to sales	[1]	965	999	1,994	1,956
Depreciation and amortization		279	310	580	610
Advanced Projects, Research and Development, and Exploration		90	83	164	145
Income (Loss) before Income and Mining Tax and Other Items		305	335	588	529
Capital Expenditures		258	192	487	360
Additional disclosures
Increase (decrease) in accrued capital expenditures			9	(2)	(3)
Consolidated capital expenditures on a cash basis		258	183	$ 489	363
Operating Segments
Segment Information
Number of operating segments | segment				4
Corporate and other
Segment Information
Depreciation and amortization		2	3	$ 5	5
Advanced Projects, Research and Development, and Exploration		18	14	31	26
Income (Loss) before Income and Mining Tax and Other Items		(18)	(111)	(128)	(246)
Capital Expenditures		2	2	6	4
North America | Operating Segments
Segment Information
Sales (Note 4)		586	749	1,268	1,390
Costs applicable to sales		362	380	758	787
Depreciation and amortization		107	131	227	259
Advanced Projects, Research and Development, and Exploration		28	22	50	40
Income (Loss) before Income and Mining Tax and Other Items		83	205	221	287
Capital Expenditures		88	69	157	141
North America | Operating Segments | Carlin
Segment Information
Sales (Note 4)		244	279	548	543
Costs applicable to sales		178	170	377	378
Depreciation and amortization		43	46	95	99
Advanced Projects, Research and Development, and Exploration		8	5	15	8
Income (Loss) before Income and Mining Tax and Other Items		13	55	55	54
Capital Expenditures		42	48	72	96
North America | Operating Segments | Phoenix
Segment Information
Sales (Note 4)		84	91	210	171
Costs applicable to sales		58	62	136	124
Depreciation and amortization		14	16	33	32
Advanced Projects, Research and Development, and Exploration		1	3	2	4
Income (Loss) before Income and Mining Tax and Other Items		10	9	36	7
Capital Expenditures		11	4	18	10
North America | Operating Segments | Phoenix | Gold
Segment Information
Sales (Note 4)		63	67	163	121
Costs applicable to sales		44	46	106	90
Depreciation and amortization		10	12	25	23
North America | Operating Segments | Phoenix | Copper
Segment Information
Sales (Note 4)		21	24	47	50
Costs applicable to sales		14	16	30	34
Depreciation and amortization		4	4	8	9
North America | Operating Segments | Twin Creeks
Segment Information
Sales (Note 4)		114	156	224	258
Costs applicable to sales		66	61	130	111
Depreciation and amortization		16	17	31	31
Advanced Projects, Research and Development, and Exploration		3	2	5	4
Income (Loss) before Income and Mining Tax and Other Items		33	72	64	107
Capital Expenditures		22	9	40	17
North America | Operating Segments | Long Canyon
Segment Information
Sales (Note 4)		56	57	115	96
Costs applicable to sales		18	13	34	25
Depreciation and amortization		19	18	38	31
Advanced Projects, Research and Development, and Exploration		6	5	12	10
Income (Loss) before Income and Mining Tax and Other Items		11	21	30	30
Capital Expenditures		2	3	5	7
North America | Operating Segments | Cripple Creek and Victor mine
Segment Information
Sales (Note 4)		88	166	171	322
Costs applicable to sales		42	74	81	149
Depreciation and amortization		14	33	29	65
Advanced Projects, Research and Development, and Exploration		1	3	3	7
Income (Loss) before Income and Mining Tax and Other Items		25	53	51	99
Capital Expenditures		9	4	18	8
North America | Operating Segments | Other North America
Segment Information
Depreciation and amortization		1	1	1	1
Advanced Projects, Research and Development, and Exploration		9	4	13	7
Income (Loss) before Income and Mining Tax and Other Items		(9)	(5)	(15)	(10)
Capital Expenditures		2	1	4	3
South America | Operating Segments
Segment Information
Sales (Note 4)		279	299	588	611
Costs applicable to sales		153	198	334	365
Depreciation and amortization		46	63	101	124
Advanced Projects, Research and Development, and Exploration		26	21	46	39
Income (Loss) before Income and Mining Tax and Other Items		30	(21)	60	29
Capital Expenditures		52	31	90	58
South America | Operating Segments | Yanacocha
Segment Information
Sales (Note 4)		147	149	290	328
Costs applicable to sales		92	134	206	253
Depreciation and amortization		22	34	52	70
Advanced Projects, Research and Development, and Exploration		12	8	22	12
Income (Loss) before Income and Mining Tax and Other Items		(3)	(59)	(31)	(50)
Capital Expenditures		24	9	40	20
South America | Operating Segments | Merian
Segment Information
Sales (Note 4)		132	150	298	283
Costs applicable to sales		61	64	128	112
Depreciation and amortization		20	26	42	47
Advanced Projects, Research and Development, and Exploration		6	4	9	8
Income (Loss) before Income and Mining Tax and Other Items		46	54	120	114
Capital Expenditures		27	22	49	38
South America | Operating Segments | Other South America
Segment Information
Depreciation and amortization		4	3	7	7
Advanced Projects, Research and Development, and Exploration		8	9	15	19
Income (Loss) before Income and Mining Tax and Other Items		(13)	(16)	(29)	(35)
Capital Expenditures		1		1
Australia | Operating Segments
Segment Information
Sales (Note 4)		536	550	1,082	1,019
Costs applicable to sales		298	288	593	533
Depreciation and amortization		54	58	109	110
Advanced Projects, Research and Development, and Exploration		9	10	20	16
Income (Loss) before Income and Mining Tax and Other Items		186	196	373	330
Capital Expenditures		41	48	87	92
Australia | Operating Segments | Boddington
Segment Information
Sales (Note 4)		280	314	542	587
Costs applicable to sales		162	175	321	318
Depreciation and amortization		30	37	59	67
Advanced Projects, Research and Development, and Exploration			1		1
Income (Loss) before Income and Mining Tax and Other Items		92	94	166	180
Capital Expenditures		10	14	26	29
Australia | Operating Segments | Boddington | Gold
Segment Information
Sales (Note 4)		220	262	430	490
Costs applicable to sales		130	147	258	269
Depreciation and amortization		24	31	47	57
Australia | Operating Segments | Boddington | Copper
Segment Information
Sales (Note 4)		60	52	112	97
Costs applicable to sales		32	28	63	49
Depreciation and amortization		6	6	12	10
Australia | Operating Segments | Tanami
Segment Information
Sales (Note 4)		134	123	301	215
Costs applicable to sales		74	58	150	108
Depreciation and amortization		16	15	35	31
Advanced Projects, Research and Development, and Exploration		4	6	10	9
Income (Loss) before Income and Mining Tax and Other Items		43	55	110	75
Capital Expenditures		26	28	47	52
Australia | Operating Segments | Kalgoorlie
Segment Information
Sales (Note 4)		122	113	239	217
Costs applicable to sales		62	55	122	107
Depreciation and amortization		6	5	12	9
Advanced Projects, Research and Development, and Exploration		3	1	6	3
Income (Loss) before Income and Mining Tax and Other Items		53	52	101	95
Capital Expenditures		5	4	13	8
Australia | Operating Segments | Other Australia
Segment Information
Depreciation and amortization		2	1	3	3
Advanced Projects, Research and Development, and Exploration		2	2	4	3
Income (Loss) before Income and Mining Tax and Other Items		(2)	(5)	(4)	(20)
Capital Expenditures			2	1	3
Africa | Operating Segments
Segment Information
Sales (Note 4)		261	277	541	545
Costs applicable to sales		152	133	309	271
Depreciation and amortization		70	55	138	112
Advanced Projects, Research and Development, and Exploration		9	16	17	24
Income (Loss) before Income and Mining Tax and Other Items		24	66	62	129
Capital Expenditures		75	42	147	65
Africa | Operating Segments | Ahafo
Segment Information
Sales (Note 4)		132	112	270	226
Costs applicable to sales		90	60	180	136
Depreciation and amortization		29	15	55	38
Advanced Projects, Research and Development, and Exploration		4	10	8	16
Income (Loss) before Income and Mining Tax and Other Items		6	25	22	34
Capital Expenditures		64	36	126	53
Africa | Operating Segments | Akyem
Segment Information
Sales (Note 4)		129	165	271	319
Costs applicable to sales		62	73	129	135
Depreciation and amortization		41	40	83	74
Advanced Projects, Research and Development, and Exploration		4	5	7	6
Income (Loss) before Income and Mining Tax and Other Items		21	45	45	100
Capital Expenditures		11	6	21	12
Africa | Operating Segments | Other Africa
Segment Information
Advanced Projects, Research and Development, and Exploration		1	1	2	2
Income (Loss) before Income and Mining Tax and Other Items		$ (3)	$ (4)	$ (5)	$ (5)

[1] Excludes Depreciation and amortization and Reclamation and remediation.

XML

SALES - Disaggregation of revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
SALES
Total sales	$ 1,662	$ 1,875	$ 3,479	$ 3,565
Gold Sales from Dore' Production
SALES
Total sales	1,392	1,559	2,921	2,973
Gold Sales from Concentrate Production
SALES
Total sales	189	240	399	445
Copper Sales from Concentrate Production
SALES
Total sales	69	64	133	124
Copper Sales from Cathode Production
SALES
Total sales	12	12	26	23
Operating Segments | North America
SALES
Total sales	586	749	1,268	1,390
Operating Segments | North America | Gold Sales from Dore' Production
SALES
Total sales	532	683	1,129	1,262
Operating Segments | North America | Gold Sales from Concentrate Production
SALES
Total sales	33	42	92	78
Operating Segments | North America | Copper Sales from Concentrate Production
SALES
Total sales	9	12	21	27
Operating Segments | North America | Copper Sales from Cathode Production
SALES
Total sales	12	12	26	23
Operating Segments | North America | Carlin
SALES
Total sales	244	279	548	543
Operating Segments | North America | Carlin | Gold Sales from Dore' Production
SALES
Total sales	244	279	548	543
Operating Segments | North America | Phoenix
SALES
Total sales	84	91	210	171
Operating Segments | North America | Phoenix | Gold Sales from Dore' Production
SALES
Total sales	30	30	71	54
Operating Segments | North America | Phoenix | Gold Sales from Concentrate Production
SALES
Total sales	33	37	92	67
Operating Segments | North America | Phoenix | Copper Sales from Concentrate Production
SALES
Total sales	9	12	21	27
Operating Segments | North America | Phoenix | Copper Sales from Cathode Production
SALES
Total sales	12	12	26	23
Operating Segments | North America | Twin Creeks
SALES
Total sales	114	156	224	258
Operating Segments | North America | Twin Creeks | Gold Sales from Dore' Production
SALES
Total sales	114	156	224	258
Operating Segments | North America | Long Canyon
SALES
Total sales	56	57	115	96
Operating Segments | North America | Long Canyon | Gold Sales from Dore' Production
SALES
Total sales	56	57	115	96
Operating Segments | North America | Cripple Creek and Victor mine
SALES
Total sales	88	166	171	322
Operating Segments | North America | Cripple Creek and Victor mine | Gold Sales from Dore' Production
SALES
Total sales	88	161	171	311
Operating Segments | North America | Cripple Creek and Victor mine | Gold Sales from Concentrate Production
SALES
Total sales		5		11
Operating Segments | South America
SALES
Total sales	279	299	588	611
Operating Segments | South America | Gold Sales from Dore' Production
SALES
Total sales	279	299	588	611
Operating Segments | South America | Yanacocha
SALES
Total sales	147	149	290	328
Operating Segments | South America | Yanacocha | Gold Sales from Dore' Production
SALES
Total sales	147	149	290	328
Operating Segments | South America | Merian
SALES
Total sales	132	150	298	283
Operating Segments | South America | Merian | Gold Sales from Dore' Production
SALES
Total sales	132	150	298	283
Operating Segments | Australia
SALES
Total sales	536	550	1,082	1,019
Operating Segments | Australia | Gold Sales from Dore' Production
SALES
Total sales	320	300	663	555
Operating Segments | Australia | Gold Sales from Concentrate Production
SALES
Total sales	156	198	307	367
Operating Segments | Australia | Copper Sales from Concentrate Production
SALES
Total sales	60	52	112	97
Operating Segments | Australia | Boddington
SALES
Total sales	280	314	542	587
Operating Segments | Australia | Boddington | Gold Sales from Dore' Production
SALES
Total sales	64	64	123	123
Operating Segments | Australia | Boddington | Gold Sales from Concentrate Production
SALES
Total sales	156	198	307	367
Operating Segments | Australia | Boddington | Copper Sales from Concentrate Production
SALES
Total sales	60	52	112	97
Operating Segments | Australia | Tanami
SALES
Total sales	134	123	301	215
Operating Segments | Australia | Tanami | Gold Sales from Dore' Production
SALES
Total sales	134	123	301	215
Operating Segments | Australia | Kalgoorlie
SALES
Total sales	122	113	239	217
Operating Segments | Australia | Kalgoorlie | Gold Sales from Dore' Production
SALES
Total sales	122	113	239	217
Operating Segments | Africa
SALES
Total sales	261	277	541	545
Operating Segments | Africa | Gold Sales from Dore' Production
SALES
Total sales	261	277	541	545
Operating Segments | Africa | Ahafo
SALES
Total sales	132	112	270	226
Operating Segments | Africa | Ahafo | Gold Sales from Dore' Production
SALES
Total sales	132	112	270	226
Operating Segments | Africa | Akyem
SALES
Total sales	129	165	271	319
Operating Segments | Africa | Akyem | Gold Sales from Dore' Production
SALES
Total sales	$ 129	$ 165	$ 271	$ 319

XML

SALES - Receivables Balance (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Receivables from Sales:
Total receivables from Sales	$ 133	$ 124
Gold Sales from Dore' Production
Receivables from Sales:
Total receivables from Sales	36
Gold and copper sales from concentrate production
Receivables from Sales:
Total receivables from Sales	96	117
Copper Sales from Cathode Production
Receivables from Sales:
Total receivables from Sales	$ 1	$ 7

XML

SALES - Impact of changes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
SALES
Increase in Sales due to changes in final pricing	$ (1)	$ 1	$ (3)	$ 11
Impact to Sales due to changes in quantities resulting from assays	(1)	(6)	1	2
Increase (decrease) to Sales from provisional pricing mark-to-market	$ (6)	$ (2)	$ (8)	$ 10

XML

SALES - Impact of adoption - Statement of Operations (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Condensed Consolidated Statement of Operations
Sales		$ 1,662	$ 1,875	$ 3,479	$ 3,565
Costs applicable to sales	[1]	965	999	1,994	1,956
Depreciation and amortization		279	310	580	610
Income (loss) before income and mining tax and other items		305	335	588	529
Income and mining tax benefit (expense)		(18)	(166)	(123)	(277)
Net income (loss)		298	151	489	209
Net income (loss) attributable to Newmont stockholders:
Continuing operations		274	190	444	260
Discontinued operations		18	(15)	40	(38)
Net income (loss) attributable to Newmont stockholders		$ 292	$ 175	$ 484	$ 222
Net income (loss) per common share - Basic:
Continuing operations (in dollars per share)		$ 0.52	$ 0.36	$ 0.84	$ 0.49
Discontinued operations (in dollars per share)		0.03	(0.03)	0.07	(0.07)
Net income (loss) per common share, basic (in dollars per share)		0.55	0.33	0.91	0.42
Net income (loss) per common share - Diluted:
Continuing operations (in dollars per share)		0.51	0.36	0.83	0.49
Discontinued operations (in dollars per share)		0.03	(0.03)	0.07	(0.07)
Net income (loss) per common share, diluted (in dollars per share)		$ 0.54	$ 0.33	$ 0.90	$ 0.42
Effect of Change | ASU No. 2014-09 Revenue Recognition
Condensed Consolidated Statement of Operations
Sales		$ 89		$ (16)
Costs applicable to sales		54		(8)
Depreciation and amortization		12		(2)
Income (loss) before income and mining tax and other items		23		(6)
Income and mining tax benefit (expense)		(6)		2
Net income (loss)		17		(4)
Net income (loss) attributable to Newmont stockholders:
Continuing operations		17		(4)
Net income (loss) attributable to Newmont stockholders		$ 17		$ (4)
Net income (loss) per common share - Basic:
Continuing operations (in dollars per share)		$ 0.03		$ (0.01)
Net income (loss) per common share, basic (in dollars per share)		0.03		(0.01)
Net income (loss) per common share - Diluted:
Continuing operations (in dollars per share)		0.03		(0.01)
Net income (loss) per common share, diluted (in dollars per share)		$ 0.03		$ (0.01)
Balance without Adoption of ASC 606
Condensed Consolidated Statement of Operations
Sales		$ 1,751		$ 3,463
Costs applicable to sales		1,019		1,986
Depreciation and amortization		291		578
Income (loss) before income and mining tax and other items		328		582
Income and mining tax benefit (expense)		(24)		(121)
Net income (loss)		315		485
Net income (loss) attributable to Newmont stockholders:
Continuing operations		291		440
Discontinued operations		18		40
Net income (loss) attributable to Newmont stockholders		$ 309		$ 480
Net income (loss) per common share - Basic:
Continuing operations (in dollars per share)		$ 0.55		$ 0.83
Discontinued operations (in dollars per share)		0.03		0.07
Net income (loss) per common share, basic (in dollars per share)		0.58		0.90
Net income (loss) per common share - Diluted:
Continuing operations (in dollars per share)		0.54		0.82
Discontinued operations (in dollars per share)		0.03		0.07
Net income (loss) per common share, diluted (in dollars per share)		$ 0.57		$ 0.89

[1] Excludes Depreciation and amortization and Reclamation and remediation.

XML

SALES - Impact of adoption - Cash flow changes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Operating activities:
Net income (loss)	$ 298	$ 151	$ 489	$ 209
Adjustments:
Depreciation and amortization	279	$ 310	580	610
Net change in operating assets and liabilities (Note 23)			(510)	(268)
Net cash provided by (used in) continuing operating activities			667	$ 902
Effect of Change | ASU No. 2014-09 Revenue Recognition
Operating activities:
Net income (loss)	17		(4)
Adjustments:
Depreciation and amortization	12		(2)
Net change in operating assets and liabilities (Note 23)			6
Balance without Adoption of ASC 606
Operating activities:
Net income (loss)	315		485
Adjustments:
Depreciation and amortization	$ 291		578
Net change in operating assets and liabilities (Note 23)			(504)
Net cash provided by (used in) continuing operating activities			$ 667

XML

SALES - Impact of adoption - Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Condensed Consolidated Balance Sheet
Trade receivables	$ 133	$ 124
Inventories	697	679
Total assets	20,655	20,646
Income and mining taxes payable	71	248
Total liabilities	8,822	9,127
Retained earnings	592	410
Newmont stockholders' equity	10,813	10,535
Total equity	11,785	11,519
Total liabilities and equity	20,655	$ 20,646
Effect of Change | ASU No. 2014-09 Revenue Recognition
Condensed Consolidated Balance Sheet
Trade receivables	(16)
Inventories	10
Total assets	(6)
Income and mining taxes payable	(2)
Total liabilities	(2)
Retained earnings	(4)
Newmont stockholders' equity	(4)
Total equity	(4)
Total liabilities and equity	(6)
Balance without Adoption of ASC 606
Condensed Consolidated Balance Sheet
Trade receivables	117
Inventories	707
Total assets	20,649
Income and mining taxes payable	69
Total liabilities	8,820
Retained earnings	588
Newmont stockholders' equity	10,809
Total equity	11,781
Total liabilities and equity	$ 20,649

XML

RECLAMATION AND REMEDIATION - Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
RECLAMATION AND REMEDIATION
Reclamation adjustment		$ 15		$ 15
Reclamation accretion	$ 25	25	$ 49	48
Total reclamation expense	25	40	49	63
Remediation adjustment	11	2	14	7
Remediation accretion	1	1	2	2
Total remediation expense	12	3	16	9
Reclamation and remediation expense	$ 37	$ 43	$ 65	$ 72

XML

RECLAMATION AND REMEDIATION - Reconciliation of Obligation (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Change in reclamation liability
Balance at beginning of period					$ 2,144	$ 1,913
Additions, changes in estimates and other		$ 15				15
Payments, net					(13)	(11)
Accretion expense			$ 25	$ 25	49	48
Balance at end of period	$ 2,180	1,965	2,180	1,965	2,180	1,965
Change in remediation liability
Balance at beginning of period					304	312
Additions, changes in estimates and other	8				8	2
Payments, net					(20)	(21)
Accretion expense			1	1	2	2
Balance at end of period	$ 294	$ 295	$ 294	$ 295	$ 294	$ 295

XML

RECLAMATION AND REMEDIATION - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Reclamation and remediation
Asset retirement obligation	$ 2,180	$ 2,144	$ 1,965	$ 1,913
Environmental remediation obligations	294	304	$ 295	$ 312
Other current liabilities
Reclamation and remediation
Reclamation obligation, current	60	60
Remediation obligation, current	45	43
Other noncurrent assets
Reclamation and remediation
Asset retirement obligation restricted assets	34	38
Other noncurrent assets | Marketable equity securities
Reclamation and remediation
Asset retirement obligation restricted assets	58	64
Other noncurrent assets | Ahafo and Akyem Mines
Reclamation and remediation
Asset retirement obligation restricted assets	25	25
Other noncurrent assets | Con Mine
Reclamation and remediation
Asset retirement obligation restricted assets	8	6
Other noncurrent assets | San Jose Reservoir
Reclamation and remediation
Asset retirement obligation restricted assets	$ 1	6
Other noncurrent assets | Midnite Mine
Reclamation and remediation
Asset retirement obligation restricted assets		$ 1

XML

OTHER EXPENSE, NET (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
OTHER EXPENSE, NET
Restructuring and other	$ 9	$ 1	$ 15	$ 8
Impairment of long-lived assets				3
Acquisition cost adjustments		3		5
Other	4	10	9	15
Other expense, net	$ 13	$ 14	$ 24	$ 31

XML

OTHER EXPENSE, NET - Other information (Details)	Jun. 30, 2009
Boddington
Acquisition cost adjustments
Boddington final interest acquired	33.33%

XML

OTHER INCOME, NET - Summary (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
OTHER INCOME, NET
Gain (loss) on asset and investment sales, net	$ 100	$ 14	$ 99	$ 16
Interest	13	6	24	10
Foreign currency exchange, net	14	(4)	21	(21)
Change in fair value of marketable securities	5		5
Tanami insurance proceeds		13		13
Other	7	2	11	4
Other Income, net	$ 139	$ 31	$ 160	$ 22

XML

OTHER INCOME, NET - Other information (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Other information
Gain (loss) on asset and investment sales, net			$ 100	$ 14	$ 99	$ 16
Other income, net
Other information
Gain (loss) on asset and investment sales, net	$ 100
Other income, net | Fort a' la Corne
Other information
Gain (loss) on asset and investment sales, net		$ 15

XML

INCOME AND MINING TAXES - Tax Expense Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reconciling item, percentage
U.S. Federal statutory tax rate (as a percent)	21.00%	35.00%	21.00%	35.00%
Percentage depletion (as a percent)	(3.00%)	(13.00%)	(4.00%)	(14.00%)
Change in valuation allowance on deferred tax assets (as a percent)	(5.00%)	21.00%	1.00%	26.00%
Mining and other taxes (as a percent)	3.00%	5.00%	5.00%	7.00%
Foreign rate differential	5.00%		8.00%
Other (as a percent)		2.00%	(2.00%)	(2.00%)
Adjustment to provisional expense related to the Tax Cuts and Job Act (as a percent)	(15.00%)		(8.00%)
Income and mining tax expense (as a percent)	6.00%	50.00%	21.00%	52.00%
Reconciling item, amount
Income (loss) before income and mining tax and other items	$ 305	$ 335	$ 588	$ 529
U.S. Federal statutory tax rate	64	117	123	185
Percentage depletion	(8)	(42)	(25)	(74)
Change in valuation allowance on deferred tax assets	(15)	72	3	139
Mining and other taxes	9	16	30	35
Foreign rate differential	15		46
Other	(2)	3	(9)	(8)
Adjustment to provisional expense related to the Tax Cuts and Job Act	(45)		(45)
Income and mining tax expense	(18)	$ (166)	$ (123)	$ (277)
Maverix [Member]
Reconciling item, amount
Change in valuation allowance on deferred tax assets	(15)
Australia
Reconciling item, amount
Adjustment to provisional expense related to the Tax Cuts and Job Act	$ (45)

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NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS - Summary (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net income (loss) from discontinued operations, net of tax
Net income (loss) from discontinued operations (Note 9)	$ 18	$ (15)	$ 40	$ (38)
Discontinued operations disposed of by sale
Net income (loss) from discontinued operations, net of tax
Net income (loss) from discontinued operations (Note 9)	18	(15)	40	(38)
Holt Royalty obligation | Holloway Mining Company | Discontinued operations disposed of by sale
Net income (loss) from discontinued operations, net of tax
Net income (loss) from discontinued operations (Note 9)	17	$ (15)	36	$ (38)
Batu Hijau contingent consideration | PTNNT | Discontinued operations disposed of by sale
Net income (loss) from discontinued operations, net of tax
Net income (loss) from discontinued operations (Note 9)	$ 1		$ 4

XML

NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS - Holt Royalty Obligation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Disposal group
Net income (loss) from discontinued operations (Note 9)	$ 18	$ (15)	$ 40	$ (38)
Discontinued operations disposed of by sale
Disposal group
Net income (loss) from discontinued operations (Note 9)	18	(15)	40	(38)
Holloway Mining Company | Discontinued operations disposed of by sale | Holt Royalty obligation
Disposal group
Fair value of royalty obligation	193		193		$ 243
Net income (loss) from discontinued operations (Note 9)	17	(15)	36	(38)
Income and mining tax benefit (expense)	$ (5)	$ 8	(9)	21
Royalty paid			$ 5	$ 6

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NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS - Net Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
Net income (loss) attributable to noncontrolling interests	$ 6	$ (24)	$ 5	$ (13)
Merian
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
Net income (loss) attributable to noncontrolling interests	(5)	(37)	(23)	(38)
Minera Yanacocha
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
Net income (loss) attributable to noncontrolling interests	$ 11	$ 13	$ 28	26
Other
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
Net income (loss) attributable to noncontrolling interests				$ (1)

XML

NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS - Ownership (Details) $ in Millions	1 Months Ended		6 Months Ended
	Jun. 30, 2018 USD ($)	Dec. 31, 2017	Jun. 30, 2018 USD ($)	Nov. 30, 2017
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
Contingently redeemable noncontrolling interest (Note 10)	$ 48		$ 48
Minera Yanacocha
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
Percentage of total shares repurchased		5.00%
Percentage of total shares reissued	5
Buenaventura
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
Noncontrolling interest, ownership percentage by noncontrolling owners	43.65%	45.95%	43.65%	43.65%
Minera Yanacocha
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
Ownership/Economic interest in subsidiaries	51.35%	54.05%	51.35%	51.35%
Primary Beneficiary | Merian
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
Ownership interest held (as a percent)			75.00%

XML

NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS - Consolidated Assets and Liabilities of VIE (Details) - Primary Beneficiary - Merian - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Assets and liabilities of VIE
Current assets	$ 183	$ 133
Total assets	963	910
Current liabilities	53	50
Total liabilities	72	69
Cash And Cash Equivalents
Assets and liabilities of VIE
Current assets	44	27
Trade Receivables
Assets and liabilities of VIE
Current assets	23
Inventories
Assets and liabilities of VIE
Current assets	81	79
Stockpiles and ore on leach pads
Assets and liabilities of VIE
Current assets	31	21
Other current assets
Assets and liabilities of VIE
Current assets	4	6
Property Plant And Mine Development
Assets and liabilities of VIE
Non-current assets	777	769
Other noncurrent assets
Assets and liabilities of VIE
Non-current assets	3	8
Accounts Payable [Member]
Assets and liabilities of VIE
Current liabilities	27	22
Other current liabilities
Assets and liabilities of VIE
Current liabilities	26	28
Reclamation and remediation liabilities
Assets and liabilities of VIE
Non-current liabilities	18	18
Other non-current liabilities
Assets and liabilities of VIE
Non-current liabilities	$ 1	$ 1

XML

NET INCOME (LOSS) PER COMMON SHARE - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net income (loss) attributable to Newmont stockholders:
Continuing operations	$ 274	$ 190	$ 444	$ 260
Discontinued operations	18	(15)	40	(38)
Net income (loss) attributable to Newmont stockholders	$ 292	$ 175	$ 484	$ 222
Weighted average common shares (millions):
Basic	533	533	534	533
Effect of employee stock-based awards	2	2	1	1
Diluted	535	535	535	534
Net income (loss) per common share - Basic:
Continuing operations (in dollars per share)	$ 0.52	$ 0.36	$ 0.84	$ 0.49
Discontinued operations (in dollars per share)	0.03	(0.03)	0.07	(0.07)
Net income (loss) per common share, basic	0.55	0.33	0.91	0.42
Net income (loss) per common share - Diluted:
Continuing operations (in dollars per share)	0.51	0.36	0.83	0.49
Discontinued operations (in dollars per share)	0.03	(0.03)	0.07	(0.07)
Net income (loss) per common share, diluted	$ 0.54	$ 0.33	$ 0.90	$ 0.42

XML

NET INCOME (LOSS) PER COMMON SHARE - Shares Repurchased and Retired (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
NET INCOME (LOSS) PER COMMON SHARE
Repurchase and retirement of common stock (in shares)	0.2	1.9
Repurchase and retirement of common stock	$ 6	$ 70
Withholding of employee taxes related to stock-based compensation (in shares)		1.0

XML

EMPLOYEE PENSION AND OTHER BENEFIT PLANS - Net Periodic Pension Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Pension Benefits
Net periodic pension and other benefits costs
Service cost	$ 8	$ 8	$ 16	$ 15
Interest cost	11	11	21	22
Expected return on plan assets	(17)	(16)	(34)	(31)
Amortization, net	8	7	16	14
Settlements				4
Total benefit cost	10	10	19	24
Other Benefits
Net periodic pension and other benefits costs
Service cost	1	1	1	1
Interest cost	1	1	2	2
Amortization, net	$ (2)	(3)	(4)	(4)
Total benefit cost		$ (1)	$ (1)	$ (1)

XML

STOCK-BASED COMPENSATION - Compensation Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Stock-based compensation:
Stock-based compensation	$ 19	$ 19	$ 38	$ 35
PSU
Stock-based compensation:
Stock-based compensation	7	9	16	17
RSU
Stock-based compensation:
Stock-based compensation	$ 12	$ 10	$ 22	17
SSU
Stock-based compensation:
Stock-based compensation				$ 1

XML

FAIR VALUE ACCOUNTING - Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Recurring
Assets:
Cash and cash equivalents	$ 3,127	$ 3,259
Restricted cash	83	39
Total assets	3,566	3,667
Liabilities:
Debt (1)	4,391	4,671
Total liabilities	4,584	4,915
Recurring | Holt Royalty obligation
Liabilities:
Holt royalty obligation	193	243
Recurring | Other Assets
Assets:
Restricted assets	7	9
Recurring | Batu Hijau contingent consideration
Assets:
Batu Hijau contingent consideration	27	23
Recurring | Provisional copper and gold concentrate receivables
Assets:
Trade receivable, net	86	111
Recurring | Foreign exchange forward contracts
Liabilities:
Derivative instruments, net		1
Recurring | Diesel forward contracts
Assets:
Derivative assets	7	6
Recurring | Level 1
Assets:
Cash and cash equivalents	3,127	3,259
Restricted cash	83	39
Total assets	3,405	3,489
Recurring | Level 1 | Other Assets
Assets:
Restricted assets	7	9
Recurring | Level 2
Assets:
Total assets	134	155
Liabilities:
Debt (1)	4,391	4,671
Total liabilities	4,391	4,672
Recurring | Level 2 | Provisional copper and gold concentrate receivables
Assets:
Trade receivable, net	86	111
Recurring | Level 2 | Foreign exchange forward contracts
Liabilities:
Derivative instruments, net		1
Recurring | Level 2 | Diesel forward contracts
Assets:
Derivative assets	7	6
Recurring | Level 3
Assets:
Total assets	27	23
Liabilities:
Total liabilities	193	243
Recurring | Level 3 | Holt Royalty obligation
Liabilities:
Holt royalty obligation	193	243
Recurring | Level 3 | Batu Hijau contingent consideration
Assets:
Batu Hijau contingent consideration	27	23
Recurring | Marketable equity securities
Assets:
Marketable securities	178	165
Recurring | Marketable equity securities | Level 1
Assets:
Marketable securities	166	165
Recurring | Marketable equity securities | Level 2
Assets:
Marketable securities	12
Recurring | Marketable debt securities
Assets:
Restricted assets	51	55
Recurring | Marketable debt securities | Level 1
Assets:
Restricted assets	22	17
Recurring | Marketable debt securities | Level 2
Assets:
Restricted assets	29	38
Carrying value
Liabilities:
Debt (1)	$ 4,042	$ 4,040

XML

FAIR VALUE ACCOUNTING - Quantitative Information (Details) oz in Thousands, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2018 USD ($) oz $ / oz $ / lb	Dec. 31, 2017 USD ($) oz $ / oz $ / lb	Jun. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Quantitative and Qualitative Information - Unobservable Inputs
Financial assets, fair value	$ 27	$ 23	$ 13	$ 31
Financial liabilities, fair value	193	243	240	187
Holt Royalty obligation
Quantitative and Qualitative Information - Unobservable Inputs
Financial liabilities, fair value	193	243	240	187
Asset-backed commercial paper
Quantitative and Qualitative Information - Unobservable Inputs
Financial assets, fair value				18
Batu Hijau contingent consideration
Quantitative and Qualitative Information - Unobservable Inputs
Financial assets, fair value	27	23	$ 13	$ 13
Level 3 | Monte Carlo | Holt Royalty obligation
Quantitative and Qualitative Information - Unobservable Inputs
Financial liabilities, fair value	$ 193	$ 243
Discount Rate (as a percent)	3.99%	3.32%
Short-term gold price (in dollars per ounce) | $ / oz	1,306	1,275
Long-term gold price (in dollars per ounce) | $ / oz	1,300	1,300
Level 3 | Monte Carlo | Holt Royalty obligation | Minimum
Quantitative and Qualitative Information - Unobservable Inputs
Gold production scenarios (in 000's of ounces) | oz	334	402
Level 3 | Monte Carlo | Holt Royalty obligation | Maximum
Quantitative and Qualitative Information - Unobservable Inputs
Gold production scenarios (in 000's of ounces) | oz	1,576	1,779
Level 3 | Monte Carlo | Batu Hijau contingent consideration
Quantitative and Qualitative Information - Unobservable Inputs
Financial assets, fair value	$ 27	$ 23
Discount Rate (as a percent)	17.50%	17.50%
Short-term copper price (in dollars per pound) | $ / lb	3.12	3.09
Long-term copper price (in dollars per pound) | $ / lb	3.00	3.00

XML

FAIR VALUE ACCOUNTING - Changes in the Fair Value of Level 3 Financial Assets and Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Summary of changes in Level 3 financial assets
Balance at beginning of period, assets	$ 23	$ 31
Settlements		(18)
Revaluation	4
Balance at end of period, assets	27	13
Summary of changes in Level 3 financial liabilities
Balance at beginning of period, liabilities	243	187
Settlements	(5)	(6)
Revaluation	(45)	59
Balance at end of period, liabilities	193	240
Holt Royalty obligation
Summary of changes in Level 3 financial liabilities
Balance at beginning of period, liabilities	243	187
Settlements	(5)	(6)
Revaluation	(45)	59
Balance at end of period, liabilities	193	240
Asset-backed commercial paper
Summary of changes in Level 3 financial assets
Balance at beginning of period, assets		18
Settlements		(18)
Batu Hijau contingent consideration
Summary of changes in Level 3 financial assets
Balance at beginning of period, assets	23	13
Revaluation	4
Balance at end of period, assets	$ 27	$ 13

XML

DERIVATIVE INSTRUMENTS - Diesel Derivative Contracts Outstanding (Details) - Cash Flow Hedges gal in Thousands	6 Months Ended
	Jun. 30, 2018 $ / gal $ / bbl gal
North America
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	14,000
Average rate ($/gallon or $/barrel) | $ / gal	1.79
South America
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	2,000
Average rate ($/gallon or $/barrel) | $ / gal	1.89
Australia
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	102
Average rate ($/gallon or $/barrel) | $ / bbl	78.54
Diesel forward contracts maturing in 2018 | North America
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	7,000
Average rate ($/gallon or $/barrel) | $ / gal	1.68
Diesel forward contracts maturing in 2019 | North America
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	3,000
Average rate ($/gallon or $/barrel) | $ / gal	1.78
Diesel forward contracts maturing in 2019 | Australia
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	12
Average rate ($/gallon or $/barrel) | $ / bbl	85.93
Diesel forward contracts maturing in 2020 | North America
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	3,000
Average rate ($/gallon or $/barrel) | $ / gal	1.97
Diesel forward contracts maturing in 2020 | South America
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	2,000
Average rate ($/gallon or $/barrel) | $ / gal	1.88
Diesel forward contracts maturing in 2020 | Australia
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	73
Average rate ($/gallon or $/barrel) | $ / bbl	77.06
Diesel forward contracts maturing in 2021 | North America
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	1,000
Average rate ($/gallon or $/barrel) | $ / gal	2.04
Diesel forward contracts maturing in 2021 | South America
Derivative contracts
Average rate ($/gallon or $/barrel) | $ / gal	1.99
Diesel forward contracts maturing in 2021 | Australia
Derivative contracts
Diesel gallons (millions) or barrels (thousands)	17
Average rate ($/gallon or $/barrel) | $ / bbl	79.69

XML

DERIVATIVE INSTRUMENTS - Fair Values of Instruments Designated as Hedges (Details) - Cash Flow Hedges - Designated Hedge - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Other current assets
Derivative contracts
Fair Value of Derivative Instruments, Assets		$ 6
Other current assets | Diesel forward contracts
Derivative contracts
Fair Value of Derivative Instruments, Assets	$ 5	6
Other noncurrent assets | Diesel forward contracts
Derivative contracts
Fair Value of Derivative Instruments, Assets	$ 2
Other current liabilities
Derivative contracts
Fair Value of Derivative Instruments, Liabilities		1
Other current liabilities | Foreign exchange forward contracts | AUD
Derivative contracts
Fair Value of Derivative Instruments, Liabilities		$ 1

XML

DERIVATIVE INSTRUMENTS - Effect of Cash Flow Hedge Accounting (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Costs applicable to sales	[1]	$ 965	$ 999	$ 1,994	$ 1,956
Interest expense, net		49	64	102	131
Operating cash flow hedges | Unrealized Gain (Loss) on Cash flow Hedge Instruments | Reclassification Out of Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Costs applicable to sales			8	1	18
Diesel forward contracts | Unrealized Gain (Loss) on Cash flow Hedge Instruments | Reclassification Out of Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Costs applicable to sales		(2)	1	(4)	3
Foreign currency hedging instruments | Unrealized Gain (Loss) on Cash flow Hedge Instruments | Reclassification Out of Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Costs applicable to sales		2	7	5	15
Interest rate contracts | Unrealized Gain (Loss) on Cash flow Hedge Instruments | Reclassification Out of Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Interest expense, net		$ 3	$ 3	$ 6	$ 5

[1] Excludes Depreciation and amortization and Reclamation and remediation.

XML

DERIVATIVE INSTRUMENTS - Location and Amount of Gains (Losses) Reported in Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivative contracts
Approximate loss amount to be reclassified from accumulated other comprehensive income (loss), net of tax to income			$ 5
Cash Flow Hedges | Foreign exchange forward contracts
Derivative contracts
(Gain) loss recognized in Other comprehensive income (loss)				$ (4)
(Gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss)	$ 2	$ 7	5	15
Cash Flow Hedges | Diesel forward contracts
Derivative contracts
(Gain) loss recognized in Other comprehensive income (loss)	(4)	3	(5)	6
(Gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss)	(2)	1	(4)	3
Cash Flow Hedges | Interest rate contracts
Derivative contracts
(Gain) loss reclassified from Accumulated other comprehensive income (loss) into income (loss)	$ 3	$ 3	$ 6	$ 5

XML

DERIVATIVE INSTRUMENTS - Batu Hijau Contingent Consideration (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Contingent Payment | Other noncurrent assets
Batu Hijau Contingent Consideration
Batu Hijau contingent consideration	$ 27	$ 23

XML

DERIVATIVE INSTRUMENTS - Embedded Derivatives (Details) oz in Thousands, lb in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018 USD ($) $ / oz $ / lb	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) lb oz $ / oz $ / lb	Jun. 30, 2017 USD ($)
Provisional Gold and Copper Sales - Embedded derivatives
Increase (decrease) to Sales from provisional pricing mark-to-market | $	$ (6)	$ (2)	$ (8)	$ 10
Gold Contracts - Embedded Derivative
Provisional Gold and Copper Sales - Embedded derivatives
Provisional pricing quantity sales (in ounces or pounds) | oz			78
Average price, subject to final pricing (in USD per ounce or pound) | $ / oz	1,251		1,251
Copper Contracts - Embedded Derivative
Provisional Gold and Copper Sales - Embedded derivatives
Provisional pricing quantity sales (in ounces or pounds) | lb			13
Average price, subject to final pricing (in USD per ounce or pound) | $ / lb	3.01		3.01

XML

INVESTMENTS - Marketable Securities - ASU 2016-01 Amortized Cost and Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Fair/Equity Basis (1)
Equity method investments		$ 165
Total unrestricted investments	$ 353	280
TMAC
Fair/Equity Basis (1)
Equity method investments		$ 115
Investments
Ownership interest (as a percent)	28.71%	28.79%
Minera La Zanja S.R.L.
Fair/Equity Basis (1)
Equity method investments		$ 50
Investments
Ownership interest (as a percent)	46.94%	46.94%
Maverix [Member]
Investments
Ownership interest (as a percent)	27.98%
Investments - current | Marketable equity securities
Fair/Equity Basis (1)
Marketable equity securities	$ 56
Investments - noncurrent
Fair/Equity Basis (1)
Marketable equity securities	122
Other investments	5
Equity method investments	226
Total unrestricted investments	353
Non-current restricted investments: (2)
Marketable debt securities	51
Other assets	7
Non-current restricted investments	58
Investments - noncurrent | TMAC
Fair/Equity Basis (1)
Equity method investments	102
Investments - noncurrent | Minera La Zanja S.R.L.
Fair/Equity Basis (1)
Equity method investments	46
Investments - noncurrent | Maverix [Member]
Fair/Equity Basis (1)
Equity method investments	78
Investments - noncurrent | Marketable equity securities | Continental
Fair/Equity Basis (1)
Marketable equity securities	108
Investments - noncurrent | Marketable equity securities | Warrant [Member]
Fair/Equity Basis (1)
Marketable equity securities	12
Investments - noncurrent | Marketable equity securities | Other marketable equity securities
Fair/Equity Basis (1)
Marketable equity securities	$ 2

XML

INVESTMENTS - Marketable Securities - Amortized Cost/Fair Value (Details) - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Investments
Investments, Cost/Equity Basis		$ 290
Unrealized Loss		(10)
Investments, Fair/Equity Basis	$ 353	280
Equity method investments		165
TMAC
Investments
Equity method investments		$ 115
Ownership interest (as a percent)	28.71%	28.79%
Minera La Zanja S.R.L.
Investments
Equity method investments		$ 50
Ownership interest (as a percent)	46.94%	46.94%
Maverix [Member]
Investments
Ownership interest (as a percent)	27.98%
Marketable debt securities
Investments
Sale of restricted marketable debt securities	$ 11
Investments - current | Marketable equity securities
Investments
Cost/Equity Basis		$ 38
Unrealized Gain		32
Unrealized Loss		(8)
Fair/Equity Basis - Current Marketable Equity Securities		62
Investments - noncurrent
Investments
Other investments, at cost		5
Investments, Fair/Equity Basis	353
Equity method investments	226
Investments - noncurrent | TMAC
Investments
Equity method investments	102
Investments - noncurrent | Minera La Zanja S.R.L.
Investments
Equity method investments	46
Investments - noncurrent | Maverix [Member]
Investments
Equity method investments	$ 78
Investments - noncurrent | Continental
Investments
Cost/Equity Basis		109
Unrealized Loss		(8)
Fair/Equity Basis - Long-Term Marketable Securities		101
Investments - noncurrent | Warrant [Member]
Investments
Cost/Equity Basis		7
Fair/Equity Basis - Long-Term Marketable Securities		7
Investments - noncurrent | Marketable equity securities
Investments
Cost/Equity Basis		120
Unrealized Loss		(10)
Fair/Equity Basis - Long-Term Marketable Securities		110
Investments - noncurrent | Other marketable equity securities
Investments
Cost/Equity Basis		4
Unrealized Loss		(2)
Fair/Equity Basis - Long-Term Marketable Securities		2
Other noncurrent assets
Investments
Non-current restricted investments, Cost/Equity Basis		66
Unrealized Gain		1
Unrealized Loss		(3)
Non-current restricted investments, Fair/Equity Basis		64
Other noncurrent assets | Marketable debt securities
Investments
Non-current restricted investments, Cost/Equity Basis		58
Unrealized Loss		(3)
Non-current restricted investments, Fair/Equity Basis		55
Other noncurrent assets | Other assets
Investments
Non-current restricted investments, Cost/Equity Basis		8
Unrealized Gain		1
Non-current restricted investments, Fair/Equity Basis		$ 9

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INVESTMENTS - Equity Method (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended
	Jul. 31, 2018	Jun. 30, 2018
Schedule of Investments [Line Items]
Cash consideration	$ 17
Maverix [Member]
Schedule of Investments [Line Items]
Ownership interest held after sale (as a percent)		27.98%
Maverix [Member] | Common Stock
Schedule of Investments [Line Items]
Shares issued in subsidiary sale of stock		60
Fair value upon closing of shares issued		$ 78
Maverix [Member] | Warrant [Member]
Schedule of Investments [Line Items]
Shares issued in subsidiary sale of stock		10
Fair value upon closing of shares issued		$ 5

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INVENTORIES - Summary of Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Inventory, net
Materials and supplies	$ 436	$ 416
In-process	135	131
Concentrate and copper cathode	91	83
Precious metals	35	49
Total inventories	$ 697	$ 679

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STOCKPILES AND ORE ON LEACH PADS - By location (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Stockpiles And Ore On Leach Pads
Current stockpiles and ore on leach pads	$ 711	$ 676
Long-term stockpiles and ore on leach pads	1,837	1,848
Stockpiles and ore on leach pads	2,548	2,524
Stockpiles
Stockpiles And Ore On Leach Pads
Current stockpiles and ore on leach pads	351	330
Long-term stockpiles and ore on leach pads	1,454	1,502
Ore on Leach Pads
Stockpiles And Ore On Leach Pads
Current stockpiles and ore on leach pads	360	346
Long-term stockpiles and ore on leach pads	383	346
Operating Segments | Carlin
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	469	441
Operating Segments | Phoenix
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	68	68
Operating Segments | Twin Creeks
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	329	340
Operating Segments | Long Canyon
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	45	34
Operating Segments | Cripple Creek and Victor mine
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	333	314
Operating Segments | Yanacocha
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	263	270
Operating Segments | Merian
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	31	25
Operating Segments | Boddington
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	445	431
Operating Segments | Tanami
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	1	4
Operating Segments | Kalgoorlie
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	126	125
Operating Segments | Ahafo
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	386	409
Operating Segments | Akyem
Stockpiles And Ore On Leach Pads
Stockpiles and ore on leach pads	$ 52	$ 63

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STOCKPILES AND ORE ON LEACH PADS - Write-downs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Write-downs
Inventory write-downs			$ 158	$ 92
Stockpiles and ore on leach pads | Carlin
Write-downs
Inventory write-downs	$ 31	$ 11	57	34
Stockpiles and ore on leach pads | Twin Creeks
Write-downs
Inventory write-downs	17	13	33	16
Stockpiles and ore on leach pads | Yanacocha
Write-downs
Inventory write-downs	2	32	26	41
Stockpiles and ore on leach pads | Ahafo
Write-downs
Inventory write-downs	26		46	18
Stockpiles and ore on leach pads | Akyem
Write-downs
Inventory write-downs	25	8	47	8
Stockpiles and ore on leach pads | Costs applicable to sales
Write-downs
Inventory write-downs	73	46	152	86
Stockpiles and ore on leach pads | Depreciation and amortization
Write-downs
Inventory write-downs	$ 28	$ 18	$ 57	$ 31

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DEBT - Maturities (Details) $ in Millions	Jun. 30, 2018 USD ($)
Scheduled minimum debt repayments
Remainder of 2018	$ 0
2019	626
2020	0
2021	0
2022	992
Debt repayments, thereafter	$ 2,474

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LEASE AND OTHER FINANCING OBLIGATIONS (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018 USD ($) facility	Dec. 31, 2017 USD ($)
Scheduled minimum capital lease repayments
Remainder of 2018	$ 2
2019	3
2020	1
2021	1
2022	1
Capital lease repayments, thereafter	1
Other information
Financing obligation, current	$ 13	$ 4
Tanami Power project
Other information
Number of on-site power stations | facility	2
Financing obligation	$ 71	$ 14
Financing obligation, current	$ 10

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OTHER LIABILITIES (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Other current liabilities:
Accrued operating costs	$ 109	$ 124
Reclamation and remediation liabilities	105	103
Accrued capital expenditures	69	77
Accrued interest	52	52
Royalties	37	63
Holt royalty obligation	14	15
Taxes other than income and mining	5	7
Derivative instruments		1
Other	5	20
Other current liabilities, total	396	462
Other long-term liabilities:
Holt property royalty	179	228
Income and mining taxes	43	47
Power supply agreements	30	32
Social development obligations	21	22
Other	11	13
Other long-term liabilities, total	$ 284	$ 342

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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Components of AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance at beginning of period			$ 11,519
Other comprehensive income (loss)	$ 7	$ 4	15	$ 16
Balance at end of period	11,785		11,785
Unrealized gain (loss) on marketable securities, net
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance at beginning of period			(116)
Change in other comprehensive income (loss) before reclassifications			1
Other comprehensive income (loss)			1
Foreign Currency Translation Adjustments
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance at beginning of period			130
Change in other comprehensive income (loss) before reclassifications			(4)
Other comprehensive income (loss)			(4)
Balance at end of period	126		126
Pension and other post-retirement benefit adjustments
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance at beginning of period			(208)
Reclassifications from accumulated other comprehensive income (loss)			9
Other comprehensive income (loss)			9
Balance at end of period	(199)		(199)
Unrealized Gain (Loss) on Cash flow Hedge Instruments
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance at beginning of period			(98)
Change in other comprehensive income (loss) before reclassifications			4
Reclassifications from accumulated other comprehensive income (loss)			5
Other comprehensive income (loss)			9
Balance at end of period	(89)		(89)
Accumulated Other Comprehensive Income (Loss)
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance at beginning of period			(292)
Change in other comprehensive income (loss) before reclassifications			1
Reclassifications from accumulated other comprehensive income (loss)			14
Other comprehensive income (loss)			15
Balance at end of period	$ (162)		$ (162)
ASU No. 2016-01 | Unrealized gain (loss) on marketable securities, net
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Cumulative-effect adjustment of adopting ASU No. 2016-01					$ 115
ASU No. 2016-01 | Accumulated Other Comprehensive Income (Loss)
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Cumulative-effect adjustment of adopting ASU No. 2016-01					$ 115

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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Other income, net		$ (139)	$ (31)	$ (160)	$ (22)
Costs applicable to sales	[1]	965	999	1,994	1,956
Interest expense, net		49	64	102	131
Total before tax		(305)	(335)	(588)	(529)
Tax		18	166	123	277
Net of tax		(298)	(151)	(489)	(209)
Pension and other post-retirement benefit adjustments
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Total before tax		6	4	12	14
Tax		(2)	(1)	(3)	(5)
Net of tax		4	3	9	9
Reclassifications from accumulated other comprehensive income (loss)				9
Accumulated defined benefit pension plans adjustment, amortization
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Other income, net		6	4	12	10
Accumulated defined benefit pension plans adjustment, settlements
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Other income, net					4
Unrealized Gain (Loss) on Cash flow Hedge Instruments
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassifications from accumulated other comprehensive income (loss)				5
Reclassification Out of Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassifications from accumulated other comprehensive income (loss)		6	10	14	24
Reclassification Out of Accumulated Other Comprehensive Income | Unrealized Gain (Loss) on Cash flow Hedge Instruments
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Total before tax		3	11	7	23
Tax		(1)	(4)	(2)	(8)
Net of tax		2	7	5	15
Reclassification Out of Accumulated Other Comprehensive Income | Operating cash flow hedges | Unrealized Gain (Loss) on Cash flow Hedge Instruments
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Costs applicable to sales			8	1	18
Reclassification Out of Accumulated Other Comprehensive Income | Interest rate contracts | Unrealized Gain (Loss) on Cash flow Hedge Instruments
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Interest expense, net		$ 3	$ 3	$ 6	$ 5

[1] Excludes Depreciation and amortization and Reclamation and remediation.

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NET CHANGE IN OPERATING ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Decrease (increase) in operating assets:
Trade and other accounts receivables	$ 37	$ (22)
Inventories, stockpiles and ore on leach pads	(211)	(118)
Other assets	(17)
Increase (decrease) in operating liabilities:
Accounts payable and other accrued liabilities	(123)	(128)
Reclamation and remediation liabilities	(33)	(32)
Accrued tax liabilities	(163)	32
Net change in operating assets and liabilities	$ (510)	$ (268)

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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Additional Information (Details)	Jun. 30, 2018
Newmont USA
Condensed Financial Statements
Percent ownership held by Newmont	100.00%

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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Operations (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Condensed Consolidating Statement of Operations
Sales		$ 1,662	$ 1,875	$ 3,479	$ 3,565
Costs and expenses
Costs applicable to sales (1)	[1]	965	999	1,994	1,956
Depreciation and amortization		279	310	580	610
Reclamation and remediation		37	43	65	72
Exploration		54	51	94	87
Advanced projects, research and development		36	32	70	58
General and administrative		63	58	122	113
Other expense, net		13	14	24	31
Total costs and expenses		1,447	1,507	2,949	2,927
Other income (expense):
Other income, net		139	31	160	22
Interest expense, net of capitalized interest		(49)	(64)	(102)	(131)
Total other income (expense)		90	(33)	58	(109)
Income (loss) before income and mining tax and other items		305	335	588	529
Income and mining tax benefit (expense)		(18)	(166)	(123)	(277)
Equity income (loss) of affiliates		(7)	(3)	(16)	(5)
Net income (loss) from continuing operations		280	166	449	247
Net income (loss) from discontinued operations (Note 9)		18	(15)	40	(38)
Net income (loss)		298	151	489	209
Net income (loss) attributable to noncontrolling interests		(6)	24	(5)	13
Net income (loss) attributable to Newmont stockholders		292	175	484	222
Comprehensive income (loss)		305	155	504	225
Comprehensive loss (income) attributable to noncontrolling interests		(6)	24	(5)	13
Comprehensive income (loss) attributable to Newmont stockholders		299	179	499	238
Eliminations
Other income (expense):
Interest income - intercompany		(40)	(62)	(94)	(93)
Interest expense - intercompany		40	62	94	93
Equity income (loss) of affiliates		(310)	(36)	(458)	(27)
Net income (loss) from continuing operations		(310)	(36)	(458)	(27)
Net income (loss)		(310)	(36)	(458)	(27)
Net income (loss) attributable to Newmont stockholders		(310)	(36)	(458)	(27)
Comprehensive income (loss)		(310)	(36)	(458)	(27)
Comprehensive income (loss) attributable to Newmont stockholders		(310)	(36)	(458)	(27)
Newmont Mining Corporation | Reportable Legal Entities
Costs and expenses
Depreciation and amortization		1	1	2	2
Total costs and expenses		1	1	2	2
Other income (expense):
Other income, net		(5)	23	3	26
Interest income - intercompany		17	23	51	47
Interest expense - intercompany		(11)	(14)	(19)	(22)
Interest expense, net of capitalized interest		(48)	(59)	(97)	(121)
Total other income (expense)		(47)	(27)	(62)	(70)
Income (loss) before income and mining tax and other items		(48)	(28)	(64)	(72)
Income and mining tax benefit (expense)		10	9	13	25
Equity income (loss) of affiliates		330	194	535	269
Net income (loss) from continuing operations		292	175	484	222
Net income (loss)		292	175	484	222
Net income (loss) attributable to Newmont stockholders		292	175	484	222
Comprehensive income (loss)		299	179	499	238
Comprehensive income (loss) attributable to Newmont stockholders		299	179	499	238
Newmont USA | Reportable Legal Entities
Condensed Consolidating Statement of Operations
Sales		419	517	931	941
Costs and expenses
Costs applicable to sales (1)		281	280	605	583
Depreciation and amortization		75	82	162	165
Reclamation and remediation		4	4	7	7
Exploration		15	13	26	22
Advanced projects, research and development		8	2	14	3
General and administrative		22	18	41	35
Other expense, net		1	2	2	8
Total costs and expenses		406	401	857	823
Other income (expense):
Other income, net		20	3	27	3
Interest income - intercompany		11	24	22	24
Interest expense - intercompany			(4)		(4)
Interest expense, net of capitalized interest			(1)	(2)	(3)
Total other income (expense)		31	22	47	20
Income (loss) before income and mining tax and other items		44	138	121	138
Income and mining tax benefit (expense)		(7)	(22)	(21)	(22)
Equity income (loss) of affiliates		(20)	(150)	(77)	(234)
Net income (loss) from continuing operations		17	(34)	23	(118)
Net income (loss)		17	(34)	23	(118)
Net income (loss) attributable to Newmont stockholders		17	(34)	23	(118)
Comprehensive income (loss)		17	(29)	23	(109)
Comprehensive income (loss) attributable to Newmont stockholders		17	(29)	23	(109)
Other Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Operations
Sales		1,243	1,358	2,548	2,624
Costs and expenses
Costs applicable to sales (1)		684	719	1,389	1,373
Depreciation and amortization		203	227	416	443
Reclamation and remediation		33	39	58	65
Exploration		39	38	68	65
Advanced projects, research and development		28	30	56	55
General and administrative		41	40	81	78
Other expense, net		12	12	22	23
Total costs and expenses		1,040	1,105	2,090	2,102
Other income (expense):
Other income, net		124	5	130	(7)
Interest income - intercompany		12	15	21	22
Interest expense - intercompany		(29)	(44)	(75)	(67)
Interest expense, net of capitalized interest		(1)	(4)	(3)	(7)
Total other income (expense)		106	(28)	73	(59)
Income (loss) before income and mining tax and other items		309	225	531	463
Income and mining tax benefit (expense)		(21)	(153)	(115)	(280)
Equity income (loss) of affiliates		(7)	(11)	(16)	(13)
Net income (loss) from continuing operations		281	61	400	170
Net income (loss) from discontinued operations (Note 9)		18	(15)	40	(38)
Net income (loss)		299	46	440	132
Net income (loss) attributable to noncontrolling interests		(6)	24	(5)	13
Net income (loss) attributable to Newmont stockholders		293	70	435	145
Comprehensive income (loss)		299	41	440	123
Comprehensive loss (income) attributable to noncontrolling interests		(6)	24	(5)	13
Comprehensive income (loss) attributable to Newmont stockholders		$ 293	$ 65	$ 435	$ 136

[1] Excludes Depreciation and amortization and Reclamation and remediation.

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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017
Operating activities:
Net cash provided by (used in) continuing operating activities			$ 667	$ 902
Net cash provided by (used in) operating activities of discontinued operations			(5)	(9)
Net cash provided by (used in) operating activities			662	893
Investing activities:
Additions to property, plant and mine development	$ (258)	$ (183)	(489)	(363)
Acquisitions, net			(39)
Proceeds from sales of investments			15	19
Other			2	17
Purchases of investments			(6)	(113)
Net cash provided by (used in) investing activities			(517)	(440)
Financing activities:
Dividends paid to common stockholders			(150)	(54)
Repurchase of common stock			(70)
Distributions to noncontrolling interests			(69)	(80)
Funding from noncontrolling interests			52	46
Sale of noncontrolling interests			48
Payments for withholding of employee taxes related to stock-based compensation			(39)	(13)
Other			(3)	(6)
Net cash provided by (used in) financing activities			(231)	(107)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(2)	2
Net change in cash, cash equivalents and restricted cash			(88)	348
Cash, cash equivalents and restricted cash at beginning of period			3,298	2,782
Cash, cash equivalents and restricted cash at end of period	3,210	3,130	3,210	3,130
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents					$ 3,127	$ 3,259	$ 3,105
Restricted cash included in Other current					$ 1		$ 2
Location of current restricted cash					us-gaap:OtherAssetsCurrent		us-gaap:OtherAssetsCurrent
Restricted cash included in Other noncurrent					$ 82		$ 23
Location of noncurrent restricted cash					us-gaap:OtherAssetsNoncurrent		us-gaap:OtherAssetsNoncurrent
Total cash, cash equivalents and restricted cash	3,210	3,130	3,298	2,782	$ 3,210	3,298	$ 3,130
Newmont Mining Corporation | Reportable Legal Entities
Operating activities:
Net cash provided by (used in) continuing operating activities			(63)	(116)
Net cash provided by (used in) operating activities			(63)	(116)
Investing activities:
Purchases of investments				(109)
Net cash provided by (used in) investing activities				(109)
Financing activities:
Dividends paid to common stockholders			(150)	(54)
Repurchase of common stock			(70)
Net intercompany borrowings (repayments)			283	282
Other				(3)
Net cash provided by (used in) financing activities			63	225
Newmont USA | Reportable Legal Entities
Operating activities:
Net cash provided by (used in) continuing operating activities			251	222
Net cash provided by (used in) operating activities			251	222
Investing activities:
Additions to property, plant and mine development			(125)	(121)
Proceeds from sales of investments			11
Other			2	2
Net cash provided by (used in) investing activities			(112)	(119)
Financing activities:
Payments for withholding of employee taxes related to stock-based compensation			(39)	(13)
Net intercompany borrowings (repayments)			(99)	(90)
Other			(1)	(1)
Net cash provided by (used in) financing activities			(139)	(104)
Net change in cash, cash equivalents and restricted cash				(1)
Cash, cash equivalents and restricted cash at beginning of period				1
Reconciliation of cash, cash equivalents and restricted cash:
Total cash, cash equivalents and restricted cash				1
Other Subsidiaries | Reportable Legal Entities
Operating activities:
Net cash provided by (used in) continuing operating activities			479	796
Net cash provided by (used in) operating activities of discontinued operations			(5)	(9)
Net cash provided by (used in) operating activities			474	787
Investing activities:
Additions to property, plant and mine development			(364)	(242)
Acquisitions, net			(39)
Proceeds from sales of investments			4	19
Other				15
Purchases of investments			(6)	(4)
Net cash provided by (used in) investing activities			(405)	(212)
Financing activities:
Distributions to noncontrolling interests			(69)	(80)
Funding from noncontrolling interests			52	46
Sale of noncontrolling interests			48
Net intercompany borrowings (repayments)			(184)	(192)
Other			(2)	(2)
Net cash provided by (used in) financing activities			(155)	(228)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(2)	2
Net change in cash, cash equivalents and restricted cash			(88)	349
Cash, cash equivalents and restricted cash at beginning of period			3,298	2,781
Cash, cash equivalents and restricted cash at end of period	3,210	3,130	3,210	3,130
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents					3,127	3,259	3,105
Restricted cash included in Other current					1		2
Restricted cash included in Other noncurrent					82		23
Total cash, cash equivalents and restricted cash	$ 3,210	$ 3,130	$ 3,298	$ 2,781	$ 3,210	$ 3,298	$ 3,130

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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017
Assets
Cash and cash equivalents	$ 3,127	$ 3,259	$ 3,105
Trade receivables (Note 4)	133	124
Other accounts receivables	101	113
Investments	56	62
Inventories	697	679
Stockpiles and ore on leach pads	711	676
Other current assets	142	153
Current assets	4,967	5,066
Property, plant and mine development, net	12,351	12,338
Investments	353	280
Stockpiles and ore on leach pads	1,837	1,848
Deferred income tax assets	537	549
Other non-current assets	610	565
Total assets	20,655	20,646
Liabilities
Lease and other financing obligations, current (Note 20)	13	4
Accounts payable	360	375
Employee-related benefits	240	309
Income and mining taxes	71	248
Other current liabilities	396	462
Current liabilities	1,080	1,398
Debt	4,042	4,040
Lease and other financing obligations, noncurrent (Note 20)	66	21
Reclamation and remediation liabilities	2,369	2,345
Deferred income tax liabilities	589	595
Employee-related benefits	392	386
Other non-current liabilities	284	342
Total liabilities	8,822	9,127
Contingently redeemable noncontrolling interest (Note 10)	48
Equity
Newmont stockholders' equity	10,813	10,535
Noncontrolling interests	972	984
Total equity	11,785	11,519
Total liabilities and equity	20,655	20,646
Eliminations
Assets
Intercompany receivable	(10,649)	(10,138)
Current assets	(10,649)	(10,138)
Property, plant and mine development, net	(27)	(27)
Investments in subsidiaries	(12,803)	(11,701)
Non-current intercompany receivable	(1,271)	(2,108)
Total assets	(24,750)	(23,974)
Liabilities
Intercompany payable	(10,649)	(10,138)
Current liabilities	(10,649)	(10,138)
Non-current intercompany payable	(1,298)	(2,135)
Total liabilities	(11,947)	(12,273)
Equity
Newmont stockholders' equity	(12,803)	(11,701)
Total equity	(12,803)	(11,701)
Total liabilities and equity	(24,750)	(23,974)
Newmont Mining Corporation | Reportable Legal Entities
Assets
Intercompany receivable	2,075	2,053
Current assets	2,075	2,053
Property, plant and mine development, net	16	17
Investments	113	106
Investments in subsidiaries	13,250	12,012
Deferred income tax assets	87	84
Non-current intercompany receivable	738	1,700
Total assets	16,279	15,972
Liabilities
Intercompany payable	1,364	1,338
Other current liabilities	52	52
Current liabilities	1,416	1,390
Debt	4,042	4,040
Employee-related benefits	1
Non-current intercompany payable	7	7
Total liabilities	5,466	5,437
Equity
Newmont stockholders' equity	10,813	10,535
Total equity	10,813	10,535
Total liabilities and equity	16,279	15,972
Newmont USA | Reportable Legal Entities
Assets
Trade receivables (Note 4)	15	18
Intercompany receivable	4,882	4,601
Inventories	167	181
Stockpiles and ore on leach pads	215	196
Other current assets	40	38
Current assets	5,319	5,034
Property, plant and mine development, net	3,059	3,082
Investments	5	4
Investments in subsidiaries	(463)	(311)
Stockpiles and ore on leach pads	643	648
Deferred income tax assets		5
Non-current intercompany receivable	527	401
Other non-current assets	244	255
Total assets	9,334	9,118
Liabilities
Lease and other financing obligations, current (Note 20)	1	1
Accounts payable	74	83
Intercompany payable	2,529	2,145
Employee-related benefits	100	143
Income and mining taxes	8	18
Other current liabilities	115	163
Current liabilities	2,827	2,553
Lease and other financing obligations, noncurrent (Note 20)	3	4
Reclamation and remediation liabilities	312	309
Deferred income tax liabilities	125	121
Employee-related benefits	223	222
Other non-current liabilities	13	18
Total liabilities	3,503	3,227
Equity
Newmont stockholders' equity	5,831	5,891
Total equity	5,831	5,891
Total liabilities and equity	9,334	9,118
Other Subsidiaries | Reportable Legal Entities
Assets
Cash and cash equivalents	3,127	3,259	$ 3,105
Trade receivables (Note 4)	118	106
Other accounts receivables	101	113
Intercompany receivable	3,692	3,484
Investments	56	62
Inventories	530	498
Stockpiles and ore on leach pads	496	480
Other current assets	102	115
Current assets	8,222	8,117
Property, plant and mine development, net	9,303	9,266
Investments	235	170
Investments in subsidiaries	16
Stockpiles and ore on leach pads	1,194	1,200
Deferred income tax assets	450	460
Non-current intercompany receivable	6	7
Other non-current assets	366	310
Total assets	19,792	19,530
Liabilities
Lease and other financing obligations, current (Note 20)	12	3
Accounts payable	286	292
Intercompany payable	6,756	6,655
Employee-related benefits	140	166
Income and mining taxes	63	230
Other current liabilities	229	247
Current liabilities	7,486	7,593
Lease and other financing obligations, noncurrent (Note 20)	63	17
Reclamation and remediation liabilities	2,057	2,036
Deferred income tax liabilities	464	474
Employee-related benefits	168	164
Non-current intercompany payable	1,291	2,128
Other non-current liabilities	271	324
Total liabilities	11,800	12,736
Contingently redeemable noncontrolling interest (Note 10)	48
Equity
Newmont stockholders' equity	6,972	5,810
Noncontrolling interests	972	984
Total equity	7,944	6,794
Total liabilities and equity	$ 19,792	$ 19,530

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COMMITMENTS AND CONTINGENCIES - Environmental Matters (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Accrual for future reclamation costs
Asset retirement obligation	$ 2,180	$ 2,144	$ 1,965	$ 1,913
Environmental remediation obligations	294	304	$ 295	$ 312
Other current liabilities
Accrual for future reclamation costs
Reclamation obligation, current	$ 60	$ 60
Reclamation and remediation liabilities
Accrual for future reclamation costs
Range of reclamation and remediation liabilities upper limit	43.00%
Range of reclamation and remediation liabilities lower limit	0.00%

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COMMITMENTS AND CONTINGENCIES - Environmental Matters by Site (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 05, 2007	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2012
Loss contingencies
Reclamation and remediation (Note 4)			$ 12.0	$ 3.0	$ 16.0	$ 9.0
Environmental remediation obligations		$ 294.0	294.0	$ 295.0	294.0	$ 295.0	$ 304.0	$ 312.0
Midnite Mine
Loss contingencies
Department of Interior contribution for past and future cleanup costs									$ 42.0
Reclamation and remediation (Note 4)		11.0
Environmental remediation | Ross-Adams Mine Site
Loss contingencies
Damages sought	$ 0.3
Environmental remediation | Midnite Mine
Loss contingencies
Environmental remediation obligations		$ 171.0	$ 171.0		$ 171.0
Newmont USA
Loss contingencies
Percent ownership held by Newmont		100.00%	100.00%		100.00%
Dawn Mining Company
Loss contingencies
Percent ownership held by Newmont		51.00%	51.00%		51.00%

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COMMITMENTS AND CONTINGENCIES - Other Legal Matters - Administrative Matters (Details) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Nov. 30, 2015 judgment	Jun. 30, 2018 USD ($) item $ / item	Dec. 31, 2000 USD ($)	Dec. 31, 2017	Nov. 30, 2017
Minera Yanacocha
Loss contingencies
Percent ownership held by Newmont		51.35%		54.05%	51.35%
Contractual right to conduct exploration
Loss contingencies
Intangible asset acquired | $			$ 29
Intangible asset, useful life			10 years
Yanacocha Tax Dispute
Loss contingencies
Number of rulings overturned | judgment	2
Yanacocha Tax Dispute | Maximum
Loss contingencies
Potential liability, including fines and interest | $		$ 83
Minera Yanacocha
Loss contingencies
Potential fine for each unit alleged violations (in dollars per unit) | $ / item		0.001287
Minera Yanacocha | Minimum
Loss contingencies
Potential fine for alleged violations | $		$ 0
Minera Yanacocha | Maximum
Loss contingencies
Potential fine for alleged violations | $		$ 57
Minera Yanacocha | OEFA | Minimum
Loss contingencies
Number of units with alleged violations | item		0
Minera Yanacocha | OEFA | Maximum
Loss contingencies
Number of units with alleged violations | item		44,540
Minera Yanacocha | Water Authority | Minimum
Loss contingencies
Number of units with alleged violations | item		0
Minera Yanacocha | Water Authority | Maximum
Loss contingencies
Number of units with alleged violations | item		59

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COMMITMENTS AND CONTINGENCIES - NWG Investments Inc v. Fronteer Gold Inc. (Details) $ in Millions, $ in Billions	Feb. 26, 2014 CAD ($)	Sep. 24, 2012 USD ($)	Apr. 08, 2008	Sep. 30, 2007	Jun. 30, 2007
North America | Pending Litigation
Loss contingencies
Uranium mining moratorium term			3 years
Jacob Safra | NWG Investments Inc
Loss contingencies
Ownership/Economic interest				100.00%
NWG Investments Inc | NewWest Gold
Loss contingencies
Ownership/Economic interest				86.00%
NWG Investments Inc | NWG New York Case | Pending Litigation
Loss contingencies
Damages sought		$ 750
NWG Investments Inc | NWG Ontario Complaint | Pending Litigation
Loss contingencies
Damages sought	$ 1.2
Fronteer | Aurora
Loss contingencies
Ownership/Economic interest					47.00%

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SUBSEQUENT EVENTS (Details) - Subsequent Event [Member] $ in Millions	1 Months Ended
	Jul. 31, 2018 USD ($)
Galore Creek [Member] | Teck Resources [Member]
Subsequent Event [Line Items]
Ownership interest (as a percent)	50.00%
Galore Creek [Member]
Subsequent Event [Line Items]
Ownership interest acquired	50.00%
Cash consideration	$ 100
Deferred payments	100
Contingent consideration liability	$ 75