Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in millions except ratio)

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

	Years Ended December 31,
	2014		2013			2012		2011		2010
Income (loss) before income and mining tax and other items	$	506	$	(3,606	)	$	3,114	$	1,810	$	3,997
Adjustments:
Fixed charges excluding capitalized interest		379		320			272		267		295
Amortization of interest capitalized		-		-			19		31		7
Dividends from equity affiliates		19		74			26		24		26
Earnings (losses) available for fixed charges	$	904	$	(3,212	)	$	3,431	$	2,132	$	4,325
Fixed Charges:
Net interest expense (1)	$	361	$	303		$	249	$	244	$	279
Portion of rental expense representative of interest		18		17			23		23		16
Fixed charges added to earnings		379		320			272		267		295
Capitalized interest		23		88			107		52		21
Total Fixed Charges	$	402	$	408		$	379	$	319	$	316
Ratio of earnings to fixed charges  (2)		2.2		-			9.1		6.7		13.7

⁽¹⁾ Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.

⁽²⁾ Earnings for 2013 were inadequate to cover fixed charges by $3,620.