Newmont Generates Third Quarter Net Cash From Continuing Operations of $198 Million ($0.44 per Share); Maintains 2008 Guidance



    
    This release should be read in conjunction with Newmont's Third Quarter
    2008 Form 10-Q filed with the Securities and Exchange Commission on
October
    29, 2008 (available at http://www.newmont.com).

    
    DENVER, Oct. 29 /CNW/ -- Newmont Mining Corporation (NYSE:   NEM) today
announced third quarter results, with net cash from continuing operations of
$198 million ($0.44 per share) on equity gold sales of 1.28 million ounces at
an average realized gold price of $865 per ounce. Costs applicable to sales
were $480 per ounce, and adjusted net income(1) was $176 million ($0.39 per
share).  Net income on a GAAP basis was $196 million ($0.43 per share) during
the third quarter.

    
    Third Quarter 2008 Highlights:
    --  Net cash provided from continuing operations of $198 million ($0.44
        per share);
    --  Equity gold sales of 1.28 million ounces at an average realized gold
        price of $865 per ounce;
    --  Adjusted net income(1) of $176 million ($0.39 per share);
    --  Maintaining 2008 equity gold sales and cost applicable to sales
        guidance.
    
    "Despite the current strains on global financial markets, Newmont remains
well positioned with a strong balance sheet, a disciplined project review and
execution process, and a continued focus on the daily operation of our
business," said Richard O'Brien, President and Chief Executive Officer.  "Our
focus on operational execution continues to yield positive results as we
delivered the fifth straight quarter of solid performance in line with our
plans."
    Mr. O'Brien went on to add, "We continue to advance our future
cornerstone of the Asia-Pacific region, Boddington in Australia, towards a
targeted start-up in early to mid-2009.  Building on the successful transition
of the Yanacocha gold mill and Nevada power plant from projects to operations
during the second quarter, we are confident in our ability to execute the
successful completion of the Boddington project, which will become the largest
gold mine in Australia and a strategic asset in our portfolio for years to
come."
    The Company is maintaining its initial 2008 annual equity gold sales
guidance at between 5.1 and 5.4 million ounces and its original costs
applicable to sales guidance of between $425 and $450 per ounce.  The
Company's costs applicable to sales forecast for 2008 now assumes an oil price
of $75 per barrel and an Australian dollar exchange rate of 0.75 for the
balance of the year.  Costs applicable to sales are expected to change by
approximately $1 per ounce for every $10 change in the oil price and by
roughly $1 per ounce for every 0.10 change in the Australian dollar exchange
rate during the remainder of the year.

    
    (1) See reconciliation from Adjusted net income to GAAP Net income.
    Regional Operations
    
    In the third quarter of 2008, the Company reported equity gold sales of
1.28 million ounces at costs applicable to sales of $480 per ounce.  The
Company's operations delivered equity gold sales slightly below management's
expectations as lower than expected sales in Nevada and at Batu Hijau were
partially offset by higher than expected sales in Australia and at Yanacocha.
The Company's third quarter costs applicable to sales per ounce were impacted
by higher than expected costs in Nevada, at Batu Hijau and at Kori Kollo,
offset by lower than expected costs in Australia, at Yanacocha and at Ahafo.
    Nevada -- Nevada sold 544,000 equity ounces at costs applicable to sales
of $497 per ounce during the third quarter.  Equity sales were lower than
expected primarily due to the continued suspension of operations at the third
party operated Getchell mine and the Yukon-Nevada Gold processing facility,
slower than anticipated recoveries from the Carlin South and Twin Creeks leach
pads, and lower throughput at Midas.  Costs applicable to sales per ounce
during the third quarter were higher than expected due to lower than expected
gold sales, continued high diesel and contracted services costs, and lower
by-product credits due to lower copper prices and volumes, partially offset by
a full quarter of commercial operation at the Nevada power plant.  The Company
now expects Nevada costs applicable to sales for 2008 to be between $410 and
$440 per ounce, compared to previous guidance of $400 to $430 per ounce.
    Yanacocha -- Equity gold sales during the third quarter at Yanacocha in
Peru were 225,000 ounces at costs applicable to sales of $362 per ounce.
Equity sales were above expectations due to a change in mine sequence that
resulted in more leach tons placed during the second quarter, which produced
higher than anticipated ounces in the third quarter, partially offset by
higher than anticipated finished goods inventory.  In addition, gold sales
were higher than expected as production from the gold mill exceeded
expectations with throughput, grades and recoveries higher than expected.
Yanacocha costs applicable to sales were lower than expected due to higher
than expected gold sales, partially offset by higher workers participation and
diesel costs, and lower silver by-product credits.  With the gold mill
performance and overall gold sales exceeding expectations through the third
quarter, the Company is lowering its expected costs applicable to sales
guidance for 2008 to between $350 and $370 per ounce from the previous range
of between $370 and $390 per ounce.
    Australia/New Zealand -- Equity gold sales during the third quarter in
the Australia/New Zealand region were 312,000 ounces at costs applicable to
sales of $570 per ounce.  Equity gold sales continued to exceed expectations
as higher grades and recoveries at Jundee, and higher throughput and
recoveries at Waihi more than offset lower grades and recoveries at Kalgoorlie
and Tanami, and lower grades at Waihi.  Australia/New Zealand regional costs
applicable to sales were lower than expected due to higher sales at Jundee and
a more favorable Australian dollar exchange rate during the quarter, partially
offset by higher diesel and maintenance costs.  Australia/New Zealand regional
costs applicable to sales are expected to change by roughly $4 per ounce for
every 0.10 change in the Australian dollar exchange rate during the remainder
of the year.
    Batu Hijau -- Equity gold and copper sales during the third quarter at
Batu Hijau in Indonesia were 12,000 ounces and 20 million pounds,
respectively, at costs applicable to sales of $718 per ounce and $1.98 per
pound, respectively.  Equity gold and copper sales were lower than expected
primarily due to the timing of concentrate shipments that resulted in third
quarter gold and copper production of 20,000 ounces and 11 million pounds,
respectively, not being shipped during the third quarter.  Equity gold and
copper production was slightly lower than planned as throughput was lower than
expected due to harder Phase 5 ore and limited access to Phase 4 ore caused by
the extensive rainfall in the first half of 2008.  Total costs applicable to
sales were consistent with expectations, with higher unit costs largely driven
by lower sales volume during the third quarter.  The Company estimates costs
applicable to sales per unit increased by approximately $115 per ounce and
$0.27 per pound due to the timing of shipments.  With the increased unit costs
during the third quarter and the recent decrease in the copper price relative
to the gold price, which will likely result in a larger proportion of costs
allocated to gold sales, the Company now expects gold costs applicable to
sales guidance for 2008 to be slightly higher at between $360 and $400 per
ounce compared to previous guidance of $340 to $380 per ounce.  The Company
continues to expect copper costs applicable to sales guidance for 2008 to be
between $1.50 and $1.75 per pound.
    Ahafo -- Equity gold sales during the third quarter at Ahafo in Ghana
were 141,000 ounces at costs applicable to sales of $402 per ounce.  Equity
gold sales were slightly higher than anticipated due to higher recoveries and
the processing of higher grade material, partially offset by lower throughput.
Power costs at Ahafo continued to be lower than anticipated due to higher
availability of power from the Volta River Authority (VRA), partially offset
by a rate increase for power supplied by the VRA that came into effect on July
1, 2008.  As a result, the Company again lowered its costs applicable to sales
guidance for 2008 at Ahafo to between $400 and $450 per ounce, compared to
previous guidance of between $450 and $500 per ounce.
    Regional operating variances from the year ago quarter, as disclosed in
the Company's previous earnings releases, are outlined in the Results of
Consolidated Operations section of the Company's Form 10-Q filed with the
Securities and Exchange Commission and available at http://www.newmont.com.
    
    Capital Update
    
    Consolidated capital expenditures were $458 million during the third
quarter, with nearly 50% attributed to the Boddington project in Australia.
The Company is maintaining its 2008 consolidated capital expenditure guidance
at between $1.7 and $2.0 billion.
    Boddington -- Development of the Boddington project in Australia was
approximately 85% complete at the end of the third quarter, with start-up
expected in early to mid-2009.  After completing a detailed review of
projected scope and cost to completion, the Company now expects its share of
total capital costs to be between $1.7 and $1.9 billion primarily due to an
approximate one quarter delay in the project schedule, a tightening Australian
labor market and continued industry-wide commodity cost inflation.  Despite
continued cost pressures, the Company remains confident in the plant design
and 12 month ramp-up schedule.  With equity gold and copper reserves at
December 31, 2007 of 11.1 million ounces and 1.0 billion pounds, respectively,
the deposit currently has an expected mine life in excess of 20 years.  The
Company continues to view Boddington as a cornerstone asset within its
portfolio.
    A detailed explanation of regional capital expenditures during the third
quarter is outlined in the Liquidity and Capital Resources section of the
Company's Form 10-Q filed with the Securities and Exchange Commission and
available at http://www.newmont.com.



    
    Consolidated Statements of Income (Loss)
    

    
                                         Three Months Ended  Nine Months Ended
                                            September 30,      September 30,
                                            2008     2007     2008      2007
                                    (unaudited, in millions, except per share)
    

    
    Revenues
      Sales -- gold, net                   $1,302   $1,069   $4,152    $3,016
      Sales -- copper, net                     90      547      705     1,100
                                            1,392    1,616    4,857     4,116
    

    
    Costs and expenses
      Costs applicable to sales --
       gold (1)                               722      587    2,018     1,803
      Costs applicable to sales --
       copper (1)                              88      105      342       356
      Loss on settlement of price-capped
       forward sales contracts                 --       --       --       531
      Midas redevelopment                      --       10       --        10
      Amortization                            189      167      555       532
      Accretion                                 9        8       25        23
      Exploration                              57       47      155       132
      Advanced projects, research and
       development                             45       16      114        45
      General and administrative               37       37      103       104
      Write-down of investments                34       --       90        --
      Other expense, net                       73       42      254       170
                                            1,254    1,019    3,656     3,706
    

    
    Other income (expense)
      Other income, net                       100       46      190       100
      Interest expense, net of
       capitalized interest                   (26)     (28)     (73)      (77)
                                               74       18      117        23
    

    
    Income from continuing operations
     before income tax, minority interest
     and equity loss of affiliates            212      615    1,318       433
    Income tax expense                         (3)     (86)    (201)     (111)
    Minority interest in income of
     consolidated subsidiaries                (31)    (198)    (291)     (352)
    Equity loss of affiliates                  (1)      --       (6)       --
    Income (loss) from continuing
     operations                               177      331      820       (30)
    Income (loss) from discontinued
     operations                                19       66       23    (1,567)
    Net income (loss)                        $196     $397     $843   $(1,597)
    

    
    Income (loss) per common share
       Basic:
          Income (loss) from continuing
           operations                       $0.39    $0.73    $1.81    $(0.07)
          Income (loss) from discontinued
           operations                        0.04     0.15     0.05     (3.47)
          Net income (loss)                 $0.43    $0.88    $1.86    $(3.54)
    

    
       Diluted:
          Income (loss) from continuing
           operations                       $0.39    $0.73    $1.80    $(0.07)
          Income (loss) from
           discontinued operations           0.04     0.15     0.05     (3.47)
          Net income (loss)                 $0.43    $0.88    $1.85    $(3.54)
    

    
    Basic weighted-average common shares
     outstanding                              454      452      454       451
    Diluted weighted-average common
     shares outstanding                       455      453      456       451
    Cash dividends declared per common
     share                                  $0.10    $0.10    $0.30     $0.30
    

    
    (1)  Exclusive of Loss on settlement of price-capped forward sales
         contracts, Midas redevelopment, Amortization and Accretion.
    
    The Company's financial statements can be found on its website at
http://www.newmont.com.



    
    Consolidated Balance Sheets
    

    
                                            At September 30,  At December 31,
                                                  2008             2007
                                                (unaudited, in millions)
                   ASSETS
    Cash and cash equivalents                      $854            $1,231
    Marketable securities and other
     short-term investments                          26                61
    Trade receivables                               162               177
    Accounts receivable                             160               168
    Inventories                                     508               463
    Stockpiles and ore on leach pads                335               373
    Deferred income tax assets                      104               112
    Other current assets                            476                87
      Current assets                              2,625             2,672
    Property, plant and mine development, net    10,172             9,140
    Investments                                   1,307             1,527
    Long-term stockpiles and ore on leach pads    1,022               788
    Deferred income tax assets                    1,134             1,027
    Other long-term assets                          249               234
    Goodwill                                        188               186
    Assets of operations held for sale                1                24
      Total assets                              $16,698           $15,598
    

    
                  LIABILITIES
    Current portion of long-term debt              $142              $255
    Accounts payable                                331               339
    Employee-related benefits                       175               153
    Income and mining taxes                          82                88
    Other current liabilities                       820               665
      Current liabilities                         1,550             1,500
    Long-term debt                                3,355             2,683
    Reclamation and remediation liabilities         624               623
    Deferred income tax liabilities               1,156             1,025
    Employee-related benefits                       192               226
    Other long-term liabilities                     182               150
    Liabilities of operations held for sale          88               394
      Total liabilities                           7,147             6,601
    

    
    Minority interests in subsidiaries            1,476             1,449
    

    
             STOCKHOLDERS' EQUITY
    Common stock                                    704               696
    Additional paid-in capital                    6,624             6,696
    Accumulated other comprehensive income          704               957
    Retained earnings (deficit)                      43              (801)
      Total stockholders' equity                  8,075             7,548
      Total liabilities and stockholders'
       equity                                   $16,698           $15,598
    
    The Company's financial statements can be found on its website at
http://www.newmont.com.



    
    Consolidated Statements of Cash Flows
    

    
                                        Three Months Ended  Nine Months Ended
                                           September 30,      September 30,
                                           2008      2007      2008    2007
                                               (unaudited, in millions)
    

    
    Operating activities:
      Net income (loss)                      $196      $397     $843  $(1,597)
      Adjustments to reconcile net income
       (loss) to net cash from continuing
       operations:
        Amortization                          189       167      555      532
        (Income) loss from discontinued
         operations                           (19)      (66)     (23)   1,567
        Accretion of accumulated reclamation
         obligations                           11        10       32       29
        Deferred income taxes                 (11)     (125)    (214)    (268)
        Write-down of investments              34        --       90       --
        Stock based compensation and other
         benefits                              14        11       38       36
        Minority interest in income of
         consolidated subsidiaries             31       198      291      352
        Gain on asset sales, net              (57)       (9)     (70)     (13)
        Reclamation estimate revisions         13         1       74       18
        Other operating adjustments and
         write-downs                           36        (6)      61       24
    Net change in operating assets and
     liabilities                             (239)      (59)    (503)    (785)
    Net cash provided from (used in)
     continuing operations                    198       519    1,174     (105)
    Net cash provided from (used in)
     discontinued operations                    1        37     (111)      98
    Net cash provided from (used in)
     operations                               199       556    1,063       (7)
    Investing activities:
      Additions to property, plant and mine
       development                           (458)     (449)  (1,355)  (1,159)
      Investments in marketable debt and
       equity securities                       (1)      (82)     (18)    (240)
      Proceeds from sale of marketable debt
       and equity securities                   33        74       50      208
      Acquisitions, net                        --        --     (325)      --
      Cash received on repayment of Batu
       Hijau carried interest                  --        --       --      161
      Other                                    42        20       26       25
    Net cash used in investing activities
     of continuing operations                (384)     (437)  (1,622)  (1,005)
    Net cash provided from (used in)
     investing activities of discontinued
     operations                                --        80       (6)     154
    Net cash used in investing activities    (384)     (357)  (1,628)    (851)
    Financing activities:
      Proceeds from debt, net               1,778     1,567    2,801    2,728
      Repayment of debt                    (1,625)   (1,233)  (2,252)  (1,651)
      Dividends paid to common stockholders   (45)      (46)    (136)    (136)
      Dividends paid to minority interests   (100)       (1)    (247)    (116)
      Proceeds from stock issuance              3         6       27       20
      Purchase of Company share call
       options                                 --      (366)      --     (366)
      Issuance of Company share warrants       --       248       --      248
      Change in restricted cash and other      12         5       19        7
    Net cash provided from financing
     activities                                23       180      212      734
    Effect of exchange rate changes on
     cash                                     (20)        6      (24)      11
    Net change in cash and cash
     equivalents                             (182)      385     (377)    (113)
    Cash and cash equivalents at
     beginning of period                    1,036       668    1,231    1,166
    Cash and cash equivalents at end of
     period                                  $854    $1,053     $854   $1,053
    
    The Company's financial statements can be found on its website at
http://www.newmont.com.  Detailed explanation of the Company's cash flow
statement is outlined in the Liquidity and Capital Resources section of the
Form 10-Q filed with the Securities and Exchange Commission and available at
http://www.newmont.com.



    
    Sales Statistics
    

    
                                         Three Months Ended  Nine Months Ended
                                              Sept. 30,          Sept. 30,
                                            2008     2007      2008     2007
    Gold
    Consolidated ounces sold (thousands)
      Nevada (1)                              544      583    1,624    1,674
      Yanacocha                               438      360    1,410    1,127
      Australia/New Zealand
        Jundee                                105       78      305      211
        Tanami                                 86       93      276      336
        Kalgoorlie                             80       83      212      249
        Waihi                                  41       21      106       62
                                              312      275      899      858
    

    
      Batu Hijau (2)                           28      200      185      374
      Ahafo (3)                               141      113      380      361
    

    
      Other
        Kori Kollo                             23       20       64       66
        La Herradura                           22       19       71       64
        Golden Giant                           --       --       --       12
                                               45       39      135      142
                                            1,508    1,570    4,633    4,536
    Equity ounces sold (thousands)
      Nevada (1)                              544      583    1,624    1,674
      Yanacocha                               225      185      724      579
      Australia/New Zealand
        Jundee                                105       78      305      211
        Tanami                                 86       93      276      336
        Kalgoorlie                             80       83      212      249
        Waihi                                  41       21      106       62
                                              312      275      899      858
      Batu Hijau (2)                           12       90       83      179
      Ahafo (3)                               141      113      380      361
      Other
        Kori Kollo                             21       17       57       58
        La Herradura                           22       19       71       64
        Golden Giant                           --       --       --       12
                                               43       36      128      134
                                            1,277    1,282    3,838    3,785
      Discontinued Operations
        Pajingo                                --       44       --      131
                                            1,277    1,326    3,838    3,916
    Copper
      Batu Hijau pounds sold (millions) (2)
        Consolidated                           44      163      201      351
        Equity                                 20       74       90      170
    

    
    (1)     Includes incremental start-up ounces of 1 in the first nine
            months of 2008.
    (2)     Economic interest decreased to 45% from 52.875% on May 25, 2007.
    (3)     Includes incremental start-up ounces of 3 and 19 for the third
            quarter and first nine months of 2008, respectively.
    
    This information and other detailed regional production statistics can be
found in the Regional Operating Statistics section of the Company's website at
http://www.newmont.com.



    
    CAS and Consolidated Capital Expenditures Statistics
    

    
                                                  Three              Nine
                                              Months Ended       Months Ended
                                                Sept. 30,          Sept. 30,
                                               2008     2007     2008     2007
    Gold
      Costs Applicable to Sales ($/ounce) (1)
        Nevada                                 $497     $421     $446     $460
        Yanacocha                               362      329      346      327
        Australia/New Zealand
          Jundee                                414      414      411      487
          Tanami                                638      426      588      409
          Kalgoorlie                            790      591      807      565
          Waihi                                 397      485      428      481
                                                570      477      560      479
    

    
        Batu Hijau                              718      140      412      198
        Ahafo                                   402      438      416      374
    

    
        Other Operations
          Kori Kollo                          1,284      379      757      354
          La Herradura                          468      358      391      313
          Golden Giant                           --       --       --      177
                                                890      369      565      320
      Average                                  $480     $374     $438     $398
    

    
    Copper
      Costs Applicable to Sales ($/pound) (1)
        Batu Hijau                            $1.98    $0.64    $1.70    $1.01
    



    
                                                  Three              Nine
                                              Months Ended       Months Ended
                                                Sept. 30,          Sept. 30,
                                               2008    2007      2008     2007
    Consolidated Capital Expenditures
     ($ million)
      Nevada                                    $87     $176     $259     $453
      Yanacocha                                  48       67      125      181
      Australia/New Zealand                     253      144      721      368
      Batu Hijau                                 11       19       72       43
      Africa                                     17       38       85       94
      Hope Bay                                   33       --       63       --
      Other Operations                            6        4       22       12
      Corporate and Other                         3        1        8        8
    Total                                      $458     $449   $1,355   $1,159
    

    
    (1) Exclusive of Loss on settlement of price-capped forward sales
        contracts, Midas redevelopment, Amortization and Accretion.
    
    This information and other detailed regional production statistics can be
found in the Regional Operating Statistics section of the Company's website at
http://www.newmont.com.
    
    Supplemental Information
    
    Classification Reporting Changes -- Certain amounts for the three and
nine months ended September 30, 2007 have been reclassified to conform to the
2008 presentation. The Company reclassified the World Gold Council dues from
General and administrative to Other expense, net, reclassified Accretion from
Costs applicable to sales to a separate Accretion line item, reclassified
regional administrative and community development from Costs applicable to
sales to Other expense, net and reclassified marketing costs from Costs
applicable to sales to General and administrative. The Consolidated Statements
of Income (Loss) and the Consolidated Statements of Cash Flows have also been
reclassified for discontinued operations. These changes were reflected for all
periods presented.
    Reconciliation of Adjusted Net Income to GAAP Net Income -- Management of
the Company uses the non-GAAP financial measure Adjusted net income to
evaluate the Company's operating performance, and for planning and forecasting
future business operations.  The Company believes the use of Adjusted net
income allows investors and analysts to compare the results of the continuing
operations of the Company and its direct and indirect subsidiaries relating to
the production and sale of minerals to similar operating results of other
mining companies, by excluding exceptional or unusual items, income or loss
from discontinued operations and the permanent impairment of assets, including
marketable securities and goodwill.  Management's determination of the
components of Adjusted net income are evaluated periodically and based, in
part, on a review of non-GAAP financial measures used by mining industry
analysts.
    Adjusted net income is not, and should not be used as, an alternative to
GAAP Net income as reflected in the consolidated financial statements of the
Company.  Adjusted net income is not a measure of financial performance under
GAAP and this measure should not be considered in isolation or as a substitute
to performance measures calculated in accordance with GAAP.  The table below
sets forth a reconciliation of Adjusted net income to GAAP Net income, which
is the most directly comparable GAAP financial measure.



    
    Description ($ million except per share, after-tax)    Q3 2008   Per Share
    Adjusted net income                                     $176       $0.39
    Write-down of marketable securities(1)                   (22)      (0.05)
    Reclamation obligations                                   (9)      (0.02)
    Write-down of accounts receivable                         (5)      (0.01)
    Gain on sale of exploration property                      19        0.04
    Tax restructuring                                         18        0.04
    GAAP Income from continuing operations                  $177       $0.39
    Income from discontinued operations                       19        0.04
    GAAP Net income                                         $196       $0.43
    

    
    (1) Net of gains on sales.
    
    2008 Annual Guidance -- The table below sets forth the Company's annual
guidance and forecast assumptions as of the respective dates indicated below:



    
    2008 Annual
     Guidance --
     Description      Oct 2008       July 2008      Apr 2008        Feb 2008
    

    
    Equity gold
     sales (Kozs)    5,100-5,400    5,100-5,400    5,100-5,400    5,100-5,400
    Costs applicable
     to sales ($/oz)  $425-$450      $425-$450      $425-$450      $425-$450
    Equity copper
     sales (Mlbs)      125-150        125-150        125-150        155-165
    Costs applicable
     to sales ($/lb) $1.50-$1.75    $1.50-$1.75    $1.50-$1.75    $1.30-$1.40
    Consolidated
     capital
     expenditures
     ($ M)          $1,700-$2,000  $1,700-$2,000  $1,800-$2,000  $1,800-$2,000
    Amortization
     ($ M)            $725-$775      $725-$775      $725-$775      $725-$775
    Exploration
     ($ M)            $220-$230      $220-$230      $220-$230      $220-$230
    Advanced
     projects,
     research and
     development
     ($ M)            $160-$190      $160-$190      $160-$190      $120-$180
    General and
     administrative
     expenses ($ M)   $140-$150      $140-$150      $140-$150      $140-$150
    Interest expense,
     net of
     capitalized
     interest ($ M)    $90-$110       $60-$80        $60-$80       $110-$120
    Effective tax
     rate              19%-23%        22%-26%        28%-32%        30%-34%
    

    
    Forecast
     Assumptions      Oct 2008       July 2008      Apr 2008        Feb 2008
    Oil Price
     ($/bbl)             $75           $125            $90            $80
    Australian Dollar
     Exchange Rate      0.750          0.950          0.925          0.875
    
    To view complete financial disclosure, including regional mine
statistics, Results of Consolidated Operations, Liquidity and Capital
Resources, Management's Discussion & Analysis, the Form 10-Q, and a complete
outline of the 2008 Operating and Financial guidance by region, please see
http://www.newmont.com.
    The Company's third quarter earnings conference call and web cast
presentation will be held on Wednesday, October 29, 2008 beginning at 10:00
a.m. Eastern Time (8:00 a.m. Mountain Time).  To participate:

    
    Dial-In Number       800-369-1835
    Intl Dial-In Number  630-395-0129
    Leader               John Seaberg
    Password             Newmont
    Replay Number        800-262-4960
    Intl Reply Number    203-369-3221
    
    The conference call will also be simultaneously carried on our web site
at http://www.newmont.com under Investor Relations/Presentations and will be
archived there for a limited time.
    
    Cautionary Statement:
    
    This news release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended that are intended to be
covered by the safe harbor created by such sections.  Such forward-looking
statements include, without limitation, (i) estimates of future mineral
production and sales; (ii) estimates of future costs applicable to sales,
other expenses and taxes for specific operations and on a consolidated basis;
(iii) estimates of future capital expenditures, construction, production or
closure activities; and (iv) statements regarding potential cost savings,
productivity, operating performance, and cost structure.  Where the Company
expresses or implies an expectation or belief as to future events or results,
such expectation or belief is expressed in good faith and believed to have a
reasonable basis.  However, forward-looking statements are subject to risks,
uncertainties and other factors, which could cause actual results to differ
materially from future results expressed, projected or implied by such
forward-looking statements.  Such risks include, but are not limited to, gold
and other metals price volatility, currency fluctuations, increased production
costs and variances in ore grade or recovery rates from those assumed in
mining plans, political and operational risks in the countries in which we
operate, and governmental regulation and judicial outcomes.  For a more
detailed discussion of such risks and other factors, see the Company's 2007
Annual Report on Form 10-K, filed on February 21, 2008, with the Securities
and Exchange Commission, as well as the Company's other SEC filings.  The
Company does not undertake any obligation to release publicly revisions to any
"forward-looking statement," to reflect events or circumstances after the date
of this news release, or to reflect the occurrence of unanticipated events,
except as may be required under applicable securities laws.




For further information:

For further information: investors, John Seaberg, +1-303-837-5743,
john.seaberg@newmont.com, or media, Omar Jabara, +1-303-837-5114,
omar.jabara@newmont.com, both of Newmont Mining Corporation Web Site:
http://www.newmont.com/

Organization Profile

Newmont Mining Corporation

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