Newmont Reports Record Operating Cash Flow of $2.9 Billion and Adjusted Net
Income(1) of $1.4 Billion ($2.79 per Share) in 2009


    


    
</pre>
<p><span class="xn-location">DENVER</span>, <span class="xn-chron">Feb. 25</span> /CNW/ -- Newmont Mining Corporation (NYSE:   NEM) ("Newmont" or "the Company") today announced record operating cash flow of <span class="xn-money">$2.9 billion</span> and adjusted net income of <span class="xn-money">$1.4 billion</span> (<span class="xn-money">$2.79</span> per share) in 2009 on record revenues of <span class="xn-money">$7.7 billion</span> from equity gold sales of 5.3 million ounces at costs applicable to sales of <span class="xn-money">$417</span> per ounce.  Record revenues of <span class="xn-money">$2.5 billion</span> were generated in the fourth quarter, with <span class="xn-money">$1.0 billion</span> in operating cash flow generated on equity gold sales of 1.5 million ounces at costs applicable to sales of <span class="xn-money">$413</span> per ounce.</p>
<pre>
    

    2009 Highlights:

    --  Net cash from continuing operations of $2.9 billion, up 109% from
2008;
    --  Adjusted net income(1) of $1.4 billion ($2.79 per share), up 72% from
        2008;
    --  Revenues of $7.7 billion, up 26% from 2008, on average realized gold
        price of $977 per ounce and average realized copper price of $2.60;
    --  Equity gold sales of 5.3 million ounces and equity copper sales of 226
        million pounds;
    --  Costs applicable to sales for gold of $417 per ounce, down 4% from
        2008;
    --  Costs applicable to sales for copper of $0.64 per pound, down 54% from
        2008;
    --  Equity gold sales and costs applicable to sales in line with original
        2009 outlook;
    --  Gold operating margin(2) increased 28% on a gold price increase of
12%;
    --  Acquisition of remaining 33.3% of Boddington;
    --  Raised $1.7 billion of equity and convertible debt to fund the
        Boddington acquisition;
    --  Successful offering of $2.0 billion of unsecured debt; and
    --  Commercial production achieved at Boddington.


    
</pre>
<p>"The combination of slightly higher production, lower costs and gold price leverage generated cash flow from operations of <span class="xn-money">$2.9 billion</span> on record revenues of <span class="xn-money">$7.7 billion</span>, while our gold operating margin expanded to 57%," said Richard O'Brien, President and Chief Executive Officer. "With the completion of construction of Boddington late last year, we now turn our attention to the development of our next generation of projects, including Akyem in <span class="xn-location">Ghana</span>, Conga in <span class="xn-location">Peru</span>, <span class="xn-person">Hope Bay</span> in <span class="xn-location">Canada</span> and our portfolio of growth projects in Nevada."</p>
<pre>
    

    Fourth Quarter Highlights:

    
</pre>
<p>For the fourth quarter of 2009, the Company reported equity gold sales of 1.5 million ounces at costs applicable to sales of <span class="xn-money">$413</span> per ounce.  Equity gold sales were higher than expected in Nevada, at Yanacocha in <span class="xn-location">Peru</span> and at Ahafo in <span class="xn-location">Ghana</span>, offset by lower than expected sales from Boddington in <span class="xn-location">Australia</span>.  Costs applicable to sales were in line with expectations.</p>
<pre>
    

    --  Net cash from continuing operations of $1.0 billion, up 323% from
2008;
    --  Adjusted net income(1) of $561 million ($1.14 per share), up 379% from
        2008;
    --  Revenues of $2.5 billion, up 90% from a year ago, on average realized
        gold price of $1,102 per ounce and average realized copper price of
        $3.24;
    --  Equity gold sales of 1.5 million ounces and equity copper sales of 72
        million pounds;
    --  Costs applicable to sales for gold of $413 per ounce, down 7% from a
        year ago;
    --  Costs applicable to sales for copper of $0.64 per pound, down 2% from
a
        year ago;
    --  Gold operating margin(2) increased 145% on a gold price increase of
        38%; and
    --  Commercial production achieved at Boddington.


    Summary of 2010 Outlook:

    
</pre>
<p>Equity gold production is expected to increase slightly to between 5.3 and 5.5 million ounces, primarily as a result of the continuing 12-month ramp-up to full production of Boddington, partially offset by lower production from Nevada and Yanacocha, as described below.  The Company expects 2010 gold costs applicable to sales to increase slightly to between <span class="xn-money">$450</span> and <span class="xn-money">$480</span> per ounce accounting for Boddington on a co-product basis, or to between <span class="xn-money">$440 to $470</span> per ounce on a by-product basis, due to lower production from Nevada and Yanacocha.  The Company accounts for Boddington on a co-product basis due to the significant revenues from copper. The Company's costs applicable to sales outlook assumes an average oil price of <span class="xn-money">$80</span> per barrel and an average Australian dollar exchange rate of <span class="xn-money">$0.80</span>.  Costs applicable to sales in 2010, inclusive of hedges, are expected to change by approximately <span class="xn-money">$6</span> per ounce for every <span class="xn-money">$10</span> change in the oil price and by approximately <span class="xn-money">$7</span> per ounce for every <span class="xn-money">$0.10</span> change in the Australian dollar exchange rate.</p>
<p/>
<p>In 2010, the Company anticipates consolidated capital expenditures to decline by approximately 15% from 2009 to between <span class="xn-money">$1.4</span> and <span class="xn-money">$1.6 billion</span> (<span class="xn-money">$1.2 to $1.4 billion</span> on an equity basis) due to the completion of Boddington in 2009, offset partially by approximately <span class="xn-money">$0.6 billion</span> (on a consolidated basis) of investment in the next generation of major projects, including Akyem in <span class="xn-location">Ghana</span>, Conga in <span class="xn-location">Peru</span>, <span class="xn-person">Hope Bay</span> in <span class="xn-location">Canada</span> and the portfolio of growth projects in Nevada, as described further below.  The remaining capital expenditures in 2010 are expected to be associated with maintenance and sustaining expenditures.</p>
<pre>
    

    Regional Operations and Outlook:

    
</pre>
<p> </p>
<p> </p>
<pre>
    
                                     North America
                                     -------------


    
</pre>
<p>Nevada - Nevada sold 567,000 equity ounces of gold at costs applicable to sales of <span class="xn-money">$495</span> per ounce during the fourth quarter.  Equity gold sales were above expectations due to higher grade from the underground operations and improved leach pad recoveries.  During the quarter, costs applicable to sales were lower than expected as higher production was partially offset by higher underground mining costs and production taxes.  Equity sales for the year were 2.0 million ounces at costs applicable to sales of <span class="xn-money">$521</span> per ounce.</p>
<p/>
<p>In 2010, the Company expects equity gold production from Nevada of approximately 1.6 to 1.7 million ounces due to lower production from the Carlin operations and the closure of Deep Post, partially offset by increased production at Leeville.  Production from the Carlin operations is expected to be impacted by a geotechnical event that occurred at Gold Quarry in late <span class="xn-chron">December 2009</span>, limiting access to ore that was originally scheduled to be mined in 2010 and 2011.  Following a series of geotechnical, mine planning and ore blending analyses conducted by the Company in January and <span class="xn-chron">February 2010</span>, the Company now expects up to approximately 150,000 equity ounces of gold production to be deferred from Gold Quarry in 2010 and 2011. The Company currently anticipates mining these deferred ounces in 2012 and 2013, while continuing to study opportunities to safely accelerate that production.  2010 costs applicable to sales in Nevada are expected to increase to between <span class="xn-money">$590</span> and <span class="xn-money">$630</span> per ounce, primarily due to lower production and higher contracted mining costs, diesel and input commodity price assumptions.</p>
<p/>
<p>La Herradura - Equity gold sales at La Herradura in <span class="xn-location">Mexico</span> during the fourth quarter were 34,000 ounces at costs applicable to sales of <span class="xn-money">$351</span> per ounce.  Equity gold sales were higher than expected due to higher leach placement.  Costs applicable to sales were lower than expected due to higher sales and by-product credits.  Equity gold sales for the year were 113,000 ounces at costs applicable to sales of <span class="xn-money">$372</span> per ounce. La Herradura equity gold production is expected to reach 140,000 to 150,000 ounces in 2010 with costs applicable to sales of between <span class="xn-money">$400</span> and <span class="xn-money">$430</span> per ounce.</p>
<p/>
<p>For 2011(3), equity gold production in the <span class="xn-location">North America</span> region is expected to remain at 2010 levels, with the potential for slightly higher production in 2012, primarily due to higher production from underground and open pits from the Nevada Growth projects as well as higher production from La Herradura in <span class="xn-location">Mexico</span> and mining of the deferred ounces at Gold Quarry in Nevada.  Costs applicable to sales in 2011 and 2012 are expected to remain near 2010 levels, with the potential of decreasing with the addition of the growth projects in Nevada and La Herradura production.</p>
<p/>
<p> </p>
<p> </p>
<pre>
    
                                     South America
                                     -------------


    
</pre>
<p>Yanacocha - Equity gold sales during the fourth quarter at Yanacocha in <span class="xn-location">Peru</span> were 262,000 ounces at costs applicable to sales of <span class="xn-money">$303</span> per ounce.  Equity gold sales were slightly below expectations due to lower leach production, offset in part by higher mill production due to higher grades and recoveries.  Costs applicable to sales were slightly higher than expected due to higher royalties and workers' participation from higher realized gold prices, partially offset by higher gold sales and by-product credits.  Equity gold sales for the year were 1.06 million ounces at costs applicable to sales of <span class="xn-money">$311</span> per ounce.</p>
<p/>
<p>Equity gold production at Yanacocha is anticipated to decrease from 2009 levels to between 750,000 and 810,000 ounces in 2010, primarily due to lower ore tons mined and lower grades.  Costs applicable to sales are anticipated to increase to between <span class="xn-money">$360</span> and <span class="xn-money">$400</span> per ounce due to lower production and higher contracted services and supplies.</p>
<p/>
<p>Equity gold production and costs applicable to sales in the <span class="xn-location">South America</span> region in 2011 and 2012(3) are expected to remain near 2010 levels.  As the Company continues to advance the Conga project toward a final development decision in 2010, permitting dependant, the anticipated first production at Conga in the late 2014 to 2015 timeframe could add, on a 100% basis,  annual gold production of approximately 650,000 to 750,000 ounces, as well as annual copper production of up to 160 to 210 million pounds during the first five years of steady-state operations at average costs applicable to sales of approximately <span class="xn-money">$300 to $400</span> per ounce and <span class="xn-money">$0.95 to $1.25</span> per pound, respectively.</p>
<p/>
<p> </p>
<p> </p>
<pre>
    
                                     Asia Pacific
                                     ------------


    
</pre>
<p>Boddington - At Boddington, ramp-up to full production in the plant is proceeding according to plan.  Equity gold sales during the fourth quarter were 103,000 ounces at costs applicable to sales of <span class="xn-money">$468</span> per ounce (<span class="xn-money">$352</span> per ounce on a by-product basis). Equity gold production is anticipated to reach 800,000 to 875,000 ounces in 2010 with costs applicable to sales of <span class="xn-money">$375 to $395</span> per ounce on a co-product basis (<span class="xn-money">$295 to $315</span> per ounce on a by-product basis).  After ramping up to full production, we continue to expect Boddington's first five years of annual production to average approximately 1.0 million ounces. Additionally, in 2010 equity copper production at Boddington is anticipated to reach 65 to 75 million pounds at costs applicable to sales of between <span class="xn-money">$1.30</span> and <span class="xn-money">$1.45</span> per pound.</p>
<p/>
<p>Other Australia/New Zealand - Equity gold sales during the fourth quarter were 292,000 ounces at costs applicable to sales of <span class="xn-money">$528</span> per ounce.  Equity gold sales met expectations as higher production at Jundee was offset by lower production at Tanami.  Costs applicable to sales were in line with expectations. Equity gold sales for the year were 1.2 million ounces at costs applicable to sales of <span class="xn-money">$512</span> per ounce.  Equity gold production at the Company's other Australian/New Zealand operations in 2010 is expected to be between 1.06 and 1.16 million ounces at costs applicable to sales of <span class="xn-money">$530 to $570</span> per ounce.</p>
<p/>
<p>Batu Hijau - Equity gold and copper sales during the fourth quarter at Batu Hijau in <span class="xn-location">Indonesia</span> were 68,000 ounces and 63 million pounds at costs applicable to sales of <span class="xn-money">$175</span> per ounce and <span class="xn-money">$0.58</span> per pound, respectively. Equity gold and copper sales met expectations as did costs applicable to sales.  Equity gold and copper sales for the year were 239,000 ounces and 217 million pounds at costs applicable to sales of <span class="xn-money">$214</span> per ounce and <span class="xn-money">$0.62</span> per pound, respectively.</p>
<p/>
<p>2010 equity gold production at Batu Hijau, assuming the current economic interest of 52.44%, is expected to increase to between 390,000 and 425,000 ounces, primarily due to a higher economic interest and higher ore grades as mining occurs in the bottom of Phase 5.  Costs applicable to sales are expected to increase to between <span class="xn-money">$265</span> and <span class="xn-money">$285</span> per ounce due to higher waste stripping.  Equity copper production is expected to increase to be between 285 and 310 million pounds at costs applicable to sales of between <span class="xn-money">$0.75</span> and <span class="xn-money">$0.85</span> per pound.</p>
<p/>
<p>Equity gold production in the Asia Pacific region in 2011 and 2012(3) is expected to remain near 2010 levels, primarily due to increased production at Boddington and extended mine-life at Jundee and Waihi, offsetting declining production at Tanami and Batu Hijau.  Over the same period, costs applicable to sales are anticipated to increase as lower cost production from Boddington will be offset by higher costs at Batu Hijau in <span class="xn-location">Indonesia</span> as the Company continues stripping Phase 6.</p>
<p/>
<p> </p>
<p> </p>
<pre>
    
                                        Africa
                                        ------


    
</pre>
<p>Ahafo - Equity gold sales during the fourth quarter at Ahafo in <span class="xn-location">Ghana</span> were 134,000 ounces at costs applicable to sales of <span class="xn-money">$506</span> per ounce.  Equity gold sales were higher than expected due to a drawdown of finished goods inventory.  Costs applicable to sales were higher than expected due to higher labor, contracted services and maintenance costs.  Equity sales for the year were 546,000 ounces at costs applicable to sales of <span class="xn-money">$444</span> per ounce.</p>
<p/>
<p>2010 equity gold production at Ahafo is expected to decline to between 460,000 and 500,000 ounces due to mining additional waste material and lower ore grade.  Costs applicable to sales are anticipated to increase to <span class="xn-money">$515 to $555</span> per ounce, primarily as a result of lower production, higher diesel price assumptions and higher labor and royalty costs.</p>
<p/>
<p>Equity gold production and costs applicable to sales in the <span class="xn-location">Africa</span> region in 2011 and 2012(3) are expected to remain near 2010 levels. With the granting of the required mining license earlier this year, the Company is advancing the development of Akyem. First production is currently anticipated in late 2013 to 2014 with the addition of up to 480,000 to 550,000 equity gold ounces annually during the first five years of operation at costs applicable to sales of between <span class="xn-money">$350</span> and <span class="xn-money">$450</span> per ounce. Additionally, the potential future development of the Subika underground project should sustain production at Ahafo at 2010 levels. Collectively, the addition of potential production from the Akyem and Subika underground projects could more than double the Company's equity gold sales in <span class="xn-location">Ghana</span> over the next five years.</p>
<pre>
    

    Consolidated Capital Expenditures Update:

    
</pre>
<p>Consolidated capital expenditures were <span class="xn-money">$455 million</span> during the fourth quarter, with approximately 33% related to completion of the Boddington project in <span class="xn-location">Australia</span>.  For the year, the Company's consolidated capital expenditures were approximately <span class="xn-money">$1.8 billion</span>, approximately 62% of which was related to Boddington.</p>
<p/>
<p>For 2010, the Company anticipates lower consolidated capital expenditures of between <span class="xn-money">$1.4</span> and <span class="xn-money">$1.6 billion</span> (<span class="xn-money">$1.2 to $1.4 billion</span> on an equity basis) with approximately 30% to be invested in each of the <span class="xn-location">North America</span> and Asia Pacific regions, and the remaining 40% at other locations.  Approximately 40% of the 2010 capital is expected to be related to major project initiatives, including further development of the Akyem project in <span class="xn-location">Ghana</span>, the Conga project in <span class="xn-location">Peru</span>, <span class="xn-person">Hope Bay</span> in <span class="xn-location">Canada</span> and other projects, while the remaining 60% is expected to be for maintenance and sustaining expenditures.</p>
<pre>
    


    
</pre>
<p> </p>
<p> </p>
<p>2010 Operating and Financial Outlooks(3):</p>
<p> </p>
<pre>
    
                            2010 Outlook    2010 Outlook      2010 Outlook
    Region               Equity Production      CAS      Consolidated Capital
                            (Kozs, Mlbs)    ($/oz, $/lb)   Expenditures ($M)
                           -------------    -----------      -------------
    Nevada                 1,600 - 1,725    $590 - $630       $355 - $375
    La Herradura             140 - 150      $400 - $430        $55 - $65
    Hope Bay                 $65 - $75
      North America        1,740 - 1,885    $575 - $615       $475 - $515
    Yanacocha                750 - 810      $360 - $400       $165 - $175
    Conga                   $155 - $165
      South America          750 - 810      $360 - $400       $320 - $340
    Boddington 1             800 - 875      $375 - $395       $140 - $155
    Other Australia/NZ     1,060 - 1,160    $530 - $570       $210 - $225
    Batu Hijau 2             390 - 425      $265 - $285       $110 - $130
      Asia Pacific         2,250 - 2,460    $400 - $440       $460 - $510
    Ahafo                    460 - 500      $515 - $555       $120 - $130
    Akyem                    $95 - $105
      Africa                 460 - 500      $515 - $555       $215 - $235
    Corporate/Other          $48 - $52
                           -------------    -----------      -------------
    Total Gold             5,300 - 5,500    $450 - $480     $1,400 - $1,600
                           -------------    -----------      -------------
    Boddington - Copper       65 - 75      $1.30 - $1.45           
    Batu Hijau - Copper 2    285 - 310     $0.75 - $0.85           
                           -------------    -----------      -------------
    Total Copper             350 - 380     $0.85 - $0.95
                           -------------    -----------      -------------
                                   
    1 Boddington shown on a co-product basis.     
    2 Assumes Batu Hijau economic interest of 52.44%.
    
</pre>
<p> </p>
<pre>
    
    The 2010 outlook for costs applicable to sales with Boddington on a
    by-product basis would be $295 to $315 per ounce, $375 to $415 per ounce
    for the Asia Pacific region and $440 to $470 per ounce for the Company,
    with no Boddington copper revenue or CAS. 
    
</pre>
<p> </p>
<p> </p>
<p> </p>
<pre>
    
    The following table sets out the Company's financial outlook for 2010 and 
    corresponding outlook assumptions.
    
</pre>
<p> </p>
<pre>
    
    Description                               2010 Outlook
                                                  ($M)
                                              ------------
    General & Administrative                  $160 - $170
    Interest Expense                          $270 - $290
    DD&A                                      $940 - $970
    Exploration Expense                       $190 - $220
    Advanced Projects & R&D                   $185 - $210
    Tax Rate                                   28% - 32%
    
</pre>
<p> </p>
<pre>
    
    Assumptions                                     
    Gold Price ($/ounce)                          $900
    Copper Price ($/pound)                       $2.50
    Oil Price ($/barrel)                          $80
    Australian Dollar Exchange Rate              $0.80
    
</pre>
<p> </p>
<p> </p>
<p> </p>
<p>Statements of Consolidated Income </p>
<p> </p>
<pre>
    
                                     Three Months Ended  Twelve Months Ended
                                         December 31,        December 31,
                                        2009      2008      2009      2008
                                        ----      ----      ----      ----
                                         (in millions, except per share)
                                         (unaudited)          (audited)
    Revenues
      Sales - gold, net               $1,985    $1,278    $6,386    $5,372
      Sales - copper, net                533        47     1,319       752
                                       -----     -----     -----     -----
                                       2,518     1,325     7,705     6,124
                                       -----     -----     -----     -----
    Costs and expenses
      Costs applicable to
       sales - gold (1)                  743       712     2,726     2,681
      Costs applicable to
       sales - copper (1)                106        57       323       399
      Amortization                       240       190       806       738
      Accretion                            9         8        34        31
      Exploration                         40        59       187       213
      Advanced projects, research
       and development                    35        53       135       166
      General and administrative          41        41       159       144
      Write-down of property,
       plant and mine development          4       135         7       137
      Other expense, net                 127       104       383       351
                                       -----     -----     -----     -----
                                       1,345     1,359     4,760     4,860
                                       -----     -----     -----     -----
    Other income (expense)
      Other income, net                   45        23        88       123
      Interest expense, net              (55)      (37)     (120)     (135)
                                       -----     -----     -----     -----
                                         (10)      (14)      (32)      (12)
                                       -----     -----     -----     -----
    Income from continuing
     operations before income tax
     and other items                   1,163       (48)    2,913     1,252
    Income tax expense                  (294)       93      (788)     (100)
    Equity income (loss)
     of affiliates                        (2)        1       (16)       (5)
                                       -----     -----     -----     -----
    Income from continuing
     operations                          867        46     2,109     1,147
    Income (loss) from
     discontinued operations              (2)       (4)      (16)       13
                                       -----     -----     -----     -----
    Net income                           865        42     2,093     1,160
    Net income attributable
     to noncontrolling interests        (307)      (38)     (796)     (329)
                                       -----     -----     -----     -----
    Net income attributable
     to Newmont stockholders            $558        $4    $1,297      $831
                                       =====     =====     =====     =====
    Net income attributable
     to Newmont stockholders:
      Continuing operations             $560        $8    $1,308      $816
      Discontinued operations             (2)       (4)      (11)       15
                                       -----     -----     -----     -----
                                        $558        $4    $1,297      $831
                                       =====     =====     =====     =====
    Net income per common share
      Basic:
        Continuing operations          $1.14     $0.02     $2.68     $1.80
        Discontinued operations            -     (0.01)    (0.02)     0.03
                                       -----     -----     -----     -----
                                       $1.14     $0.01     $2.66     $1.83
                                       =====     =====     =====     =====
      Diluted:
        Continuing operations          $1.13     $0.02     $2.68     $1.80
        Discontinued operations            -     (0.01)    (0.02)     0.03
                                       -----     -----     -----     -----
                                       $1.13     $0.01     $2.66     $1.83
                                       =====     =====     =====     =====
    Basic weighted-average
     common shares outstanding           491       454       487       454
                                       =====     =====     =====     =====
    Diluted weighted-average
     common shares outstanding           493       455       487       455
                                       =====     =====     =====     =====
    Cash dividends declared
     per common share                  $0.10     $0.10     $0.40     $0.40
                                       =====     =====     =====     =====
    
</pre>
<p> </p>
<p>(1) Exclusive of Amortization and Accretion.</p>
<p> </p>
<pre>
    
    The Company's financial statements can be found on its website
    at www.newmont.com.
    
</pre>
<p> </p>
<p> </p>
<p> </p>
<pre>
    
    Consolidated Balance Sheets
                                                     At December 31,
                                                  2009              2008
                                                  ----              ----
                                                 (audited, in millions)
           ASSETS
     Cash and cash equivalents                   $3,215              $435
     Trade receivables                              438               104
     Accounts receivable                            102               214
     Investments                                     56                12
     Inventories                                    493               507
     Stockpiles and ore on leach pads               403               290
     Deferred income tax assets                     215               284
     Other current assets                           900               455
                                                -------           -------
       Current assets                             5,822             2,301
     Property, plant and mine development, net   12,370            10,128
     Investments                                  1,186               655
     Stockpiles and ore on leach pads             1,502             1,136
     Deferred income tax assets                     937             1,039
     Other long-term assets                         482               395
     Assets of operations held for sale               -                73
                                                -------           -------
       Total assets                             $22,299           $15,727
                                                =======           =======
                                                        
           LIABILITIES                                 
     Current portion of debt                       $157              $165
     Accounts payable                               396               411
     Employee-related benefits                      250               170
     Income and mining taxes                        200                61
     Other current liabilities                    1,317               770
                                                -------           -------
        Current liabilities                       2,320             1,577
     Debt                                         4,652             3,072
     Reclamation and remediation liabilities        805               699
     Deferred income tax liabilities              1,341             1,051
     Employee-related benefits                      381               379
     Other long-term liabilities                    174               252
     Liabilities of operations held for sale         13                36
                                                -------           -------
        Total liabilities                         9,686             7,066
                                                -------           -------
                                                        
           EQUITY                                      
     Common stock                                   770               709
     Additional paid-in capital                   8,158             6,831
     Accumulated other
      comprehensive income (loss)                   626              (253)
     Retained earnings                            1,149                 4
                                                -------           -------
     Newmont stockholders' equity                10,703             7,291
     Noncontrolling interests                     1,910             1,370
                                                -------           -------
        Total equity                             12,613             8,661
                                                -------           -------
        Total liabilities and equity            $22,299           $15,727
                                                =======           =======
    
</pre>
<p> </p>
<pre>
    
    The Company's financial statements can be found on its website
    at www.newmont.com. 
    
</pre>
<p> </p>
<p> </p>
<p> </p>
<p>Statements of Consolidated Cash Flows </p>
<p> </p>
<pre>
    
                                 Three Months Ended     Twelve Months Ended
                                 ------------------     -------------------
                                     December 31,           December 31,
                                    2009     2008          2009      2008
                                    ----     ----          ----      ----
                              (unaudited, in millions) (audited, in millions)
    Operating activities:              
      Net income                   $865       $42        $2,093     $1,160
      Adjustments:                     
        Amortization                240       190           806        738  
        Stock based
         compensation
         and other benefits          13        12            57         50  
        Accretion of
         accumulated
         reclamation
         obligations                 12        11            46         41  
        Revaluation of
         contingent
         consideration               23         -            23          -
        Loss (income) from 
         discontinued
         operations                   2         4            16        (13)  
        Reclamation estimate
         revisions                   13        27            13        101  
        Write-down of property,
         plant and mine
         development                  4       134             7        137  
        Impairment of marketable
         securities                   -        24             6        114  
        Deferred income taxes        (6)      (93)            1       (315)  
        Gain on asset sales, net    (21)       (2)          (24)       (72)  
        Other operating
         adjustments and 
         write-downs                 23        13            97         83  
        Net change in operating
         assets and liabilities    (200)     (133)         (227)      (627)
                                 ------    ------        ------     ------
    Net cash provided from
     continuing operations          968       229         2,914      1,397  
    Net cash provided from
     (used in) discontinued
     operations                      30         1            33       (104)  
                                 ------    ------        ------     ------
    Net cash provided
     from operations                998       230         2,947      1,293  
                                 ------    ------        ------     ------
    Investing activities:              
      Additions to property,
       plant and mine
       development                 (455)     (520)       (1,769)    (1,870)  
      Acquisitions, net            (241)        -       (1,007)      (325)  
      Sales of marketable
       securities                     7         -            17         50  
      Purchases of marketable
       securities                    (5)        1            (5)       (17)  
      Other                           1       (10)          (17)        16  
                                 ------    ------        ------     ------
    Net cash used in investing
     activities of continuing
     operations                    (693)     (529)       (2,781)    (2,146)  
    Net cash used in investing
     activities of
     discontinued operations          -         -             -        (11)  
                                 ------    ------        ------     ------
    Net cash used in
     investing activities          (693)     (529)       (2,781)    (2,157)  
                                 ------    ------        ------     ------
    Financing activities:              
      Proceeds from debt, net        (3)    2,277         4,299      5,078  
      Repayment of debt            (127)   (2,234)       (2,731)    (4,483)  
      Proceeds from stock
       issuance, net                 30         2         1,278         29  
      Sale of subsidiary
       shares to noncontrolling
       interests                    638         -           638          -
      Acquisition of subsidiary
       shares from
       noncontrolling
       interests                   (287)        -          (287)         -
      Dividends paid to
       noncontrolling
       interests                   (279)     (142)         (394)      (389)  
      Dividends paid to
       common stockholders          (49)      (46)         (196)      (182)  
      Change in restricted
       cash and other               (40)       55           (35)        74  
                                 ------    ------        ------     ------
    Net cash provided from
     (used in) financing
     activities of continuing
     operations                    (117)      (88)        2,572        127  
    Net cash used in financing
     activities of
     discontinued operations          -        (1)           (2)        (4)  
                                 ------    ------        ------     ------
    Net cash provided from
     (used in) financing
     activities                    (117)      (89)        2,570        123  
                                 ------    ------        ------     ------
    Effect of exchange
     rate changes on cash             5       (30)           44        (54)  
                                 ------    ------        ------     ------
    Net change in cash and
     cash equivalents               193      (418)        2,780       (795)  
    Cash and cash equivalents
     at beginning of period       3,022       853           435      1,230
                                 ------    ------        ------     ------
    Cash and cash equivalents
     at end of period            $3,215      $435        $3,215       $435  
                                 ======    ======        ======     ======
    
</pre>
<p> </p>
<pre>
    
    The Company's financial statements can be found on its website
    at www.newmont.com.
    
</pre>
<p> </p>
<p> </p>
<p> </p>
<p>Sales Statistics</p>
<p> </p>
<pre>
    
                                      Three Months Ended  Twelve Months Ended
                                      ------------------  -------------------
                                          December 31,        December 31,
                                        2009      2008      2009      2008
                                        ----      ----      ----      ----
    Gold                                    
    Consolidated ounces sold (thousands):   
      North America                         
        Nevada (1)                       567       601     2,005     2,225
        La Herradura                      34        24       113        95
                                         601       625     2,118     2,320
                                       -----     -----     -----     -----
      South America                         
        Yanacocha                        510       433     2,068     1,843
                                             
      Asia Pacific                          
        Boddington (2)                   103         -       103         -
        Jundee                           108        72       413       377
        Tanami                            53        89       291       365
        Kalgoorlie                        97        92       336       304
        Waihi                             34        35       118       141
        Batu Hijau                       169       114       550       299
                                       -----     -----     -----     -----
                                         564       402     1,811     1,486
                                       -----     -----     -----     -----
      Africa                                
        Ahafo (3)                        134       141       546       521
                                       -----     -----     -----     -----
                                       1,809     1,601     6,543     6,170
                                       =====     =====     =====     =====
    Copper                                  
    Consolidated pounds sold (millions):    
      Asia Pacific                          
        Boddington                         9         -         9         -
        Batu Hijau                       156        89       498       290
                                       -----     -----     -----     -----
                                         165        89       507       290
                                       =====     =====     =====     =====
    Gold                                    
    Equity ounces sold (thousands):         
      North America                         
        Nevada (1)                       567       601     2,005     2,225
        La Herradura                      34        24       113        95
                                       -----     -----     -----     -----
                                         601       625     2,118     2,320
                                       -----     -----     -----     -----
      South America                         
        Yanacocha                        262       222     1,062       946
    
</pre>
<p> </p>
<pre>
    
      Asia Pacific                          
        Boddington (2)                   103         -       103         -
        Jundee                           108        72       413       377
        Tanami                            53        89       291       365
        Kalgoorlie                        97        92       336       304
        Waihi                             34        35       118       141
        Batu Hijau                        68        52       239       135
                                       -----     -----     -----     -----
                                         463       340     1,500     1,322
                                       -----     -----     -----     -----
      Africa                                
        Ahafo (3)                        134       141       546       521
                                       -----     -----     -----     -----
                                       1,460     1,328     5,226     5,109
                                       -----     -----     -----     -----
    Discontinued Operations                 
        Kori Kollo                         -        18        33        75
                                       -----     -----     -----     -----
                                       1,460     1,346     5,259     5,184
                                       =====     =====     =====     =====
    Copper                                  
    Equity pounds sold (millions):          
      Asia Pacific                          
        Boddington                         9         -         9         -
        Batu Hijau                        63        40       217       130
                                       -----     -----     -----     -----
                                          72        40       226       130
                                       =====     =====     =====     =====
    
</pre>
<p> </p>
<pre>
    
    (1) Includes incremental start-up ounces of 1 for the twelve months
        ended December 31, 2009 and December 31, 2008.
    (2) Includes incremental start-up ounces of 8 for the three months
        and twelve months ended December 31, 2009.
    (3) Includes incremental start-up ounces of 18 for the twelve months
        ended December 31, 2008.
    
</pre>
<p> </p>
<pre>
    
    This information and other detailed regional production statistics can be
    found in the Regional Operating Statistics section of the Company's
    website at www.newmont.com.
    
</pre>
<p> </p>
<p> </p>
<p> </p>
<p>CAS and Capital Expenditures Statistics</p>
<p> </p>
<pre>
    
                                      Three Months Ended  Twelve Months Ended
                                      ------------------  -------------------
                                         December 31,        December 31,  
                                        2009      2008      2009      2008
                                        ----      ----      ----      ----
    Gold                                    
      Costs Applicable
       to Sales ($/ounce) (1)               
        North America                       
          Nevada                        $495      $497      $521      $460
          La Herradura                   351       414       372       397
                                       -----     -----     -----     -----
                                         487       494       513       457
                                       -----     -----     -----     -----
        South America                       
          Yanacocha                      303       344       311       346
                                             
        Asia Pacific                        
          Boddington                     468         -       468         -
          Jundee                         306       323       331       395
          Tanami                         816       655       650       604
          Kalgoorlie                     609       654       624       760
          Waihi                          540       275       481       390
          Batu Hijau                     175       418       214       414
                                       -----     -----     -----     -----
                                         410       496       418       524
                                       -----     -----     -----     -----
        Africa                              
          Ahafo                          506       385       444       408
                                       -----     -----     -----     -----
    Average                             $413      $444      $417      $436
                                       =====     =====     =====     =====
    Copper                                  
      Costs Applicable
       to Sales ($/pound) (1)               
        Asia Pacific                        
          Boddington                   $1.77        $-     $1.77        $-
          Batu Hijau                    0.58      0.65      0.62      1.38
                                       -----     -----     -----     -----
    Average                            $0.64     $0.65     $0.64     $1.38
                                       =====     =====     =====     =====
    
</pre>
<p> </p>
<p> </p>
<pre>
    
                                      Three Months Ended  Twelve Months Ended
                                      ------------------  -------------------
                                         December 31,        December 31,  
                                        2009      2008      2009      2008
                                        ----      ----      ----      ----
    Consolidated Capital
     Expenditures ($million)                
        North America                       
          Nevada                         $51       $72      $205      $299
          Hope Bay                         1        19         5        82
          La Herradura                    20        10        54        27
                                       -----     -----     -----     -----
                                          72       101       264       408
                                       -----     -----     -----     -----
        South America                       
          Yanacocha                       52       110       146       236
                                             
        Asia Pacific                        
          Boddington                     132       211     1,093       815
          Jundee                           8         7        29        36
          Tanami                          32        18        74        52
          Kalgoorlie                       5         4        11        14
          Waihi                            2         4         8        28
          Batu Hijau                      14        18        44        83
          Other Asia Pacific               1         1         3         2
                                       -----     -----     -----     -----
                                         194       263     1,262     1,030
                                       -----     -----     -----     -----
        Africa                              
          Ahafo                           33        33        75       109
          Akyem                            6         1        10         2
                                       -----     -----     -----     ----- 
                                          39        34        85       111
                                       -----     -----     -----     -----
          Corporate and Other              4        14        16        20
                                       -----     -----     -----     -----
    Total - Accrual Basis                361       522     1,773     1,805
                                       -----     -----     -----     -----
    Change in Capital Accrual             94       (2)       (4)        65
                                       -----     -----     -----     -----
    Total - Cash Basis                  $455      $520    $1,769    $1,870
                                       =====     =====     =====     =====
    
</pre>
<p> </p>
<p>(1) Excludes Amortization and Accretion.</p>
<p> </p>
<pre>
    
    This information and other detailed regional production statistics
    can be found in the Regional Operating Statistics section of the
    Company's website at www.newmont.com.


    Supplemental Information:

    Non-GAAP Financial Measures

    
</pre>
<p>Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by 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.</p>
<pre>
    


    Reconciliation of Adjusted Net Income to GAAP Net Income

    
</pre>
<p>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.</p>
<pre>
    


    
</pre>
<p> </p>
<p> </p>
<pre>
    
    The table below sets forth a reconciliation of adjusted net income
    to GAAP Net income, the directly comparable GAAP financial measure.
    
</pre>
<p> </p>
<pre>
    
    ($million except per
     share, after-tax)                Q4 2009    Q4 2008   2009      2008
                                      -------    -------  ------    ------
    GAAP Net income (1)                 $558        $4    $1,297      $831
    Boddington acquisition costs           -         -        44         -
    Boddington contingent consideration   15         -        15         -
    Impairment of assets                   -       111         8       182
    Net gain on asset sales              (14)       (2)      (16)      (47)
    Income tax estimate revisions          -         -         -      (159)
    (Income) loss from
     discontinued operations (1)           2         4        11      (15)
    Adjusted net income                 $561      $117    $1,359      $792
                                      =======    =======  ======    ======
    Adjusted net income per share      $1.14     $0.26     $2.79     $1.74
                                      =======    =======  ======    ======
                                            
    (1) Attributable to Newmont stockholders.


    
</pre>
<p>Reconciliation of Boddington Co-Product Costs Applicable to Sales to By-Product Costs Applicable to Sales</p>
<p/>
<p>Revenue and Costs applicable to sales for Boddington are presented in the Consolidated Financial Statements for both gold and copper due to the significant portion of copper production (approximately 15-20% of total revenue based on the latest life-of-mine plan and metal price assumptions). The co-product method allocates costs applicable to sales to each metal based on specifically identifiable costs where applicable and on a relative proportion of revenue values for other costs. Management also assesses the performance of the Boddington mine on a by-product basis due to the majority of revenues being derived from gold and to determine contingent consideration payments that may be paid to AngloGold to acquire the remaining 33.33% interest in Boddington. The by-product method deducts copper revenue from costs applicable to sales as shown in the following table.</p>
<pre>
    


    
</pre>
<p> </p>
<p> </p>
<pre>
    
    Boddington                       By-Product
                                       method         Co-Product method
                                     ----------   -------------------------
    Q4 2009                             Gold      Gold     Copper     Total
                                     ----------   -------------------------
    ($million except per ounce/pound)
    Revenue, net                        $101      $101       $27      $128
    Production costs:                       
      Direct mining and
       production costs                   58        46        12        58
      By-product credits                 (28)       (1)        -        (1)
      Royalties and production taxes       5         4         1         5
      Other                               (2)       (5)        3        (2)
                                        ----       ----     ----      ----  
      Costs applicable to sales           33        44        16        60
      Amortization and accretion          20        16         4        20
                                        ----       ----     ----      ----  
      Total production costs              53        60        20        80
                                        ----       ----     ----      ----  
        Gross margin                      48        41         7        48
                                        ====       ====     ====      ====
    Gold ounces sold (000)(1)             95        95          
    Costs applicable to
     sales per ounce                    $352      $468          
    Copper pounds sold (millions)        N/A                   9          
    Costs applicable to
     sales per pound                     N/A               $1.77          
    
</pre>
<p> </p>
<pre>
    
    (1) Excludes incremental start-up sales of 8 ounces.

    
</pre>
<p>To view more detailed financial disclosure, including regional mine statistics, Results of Consolidated Operations, Liquidity and Capital Resources, Management's Discussion & Analysis, relevant Risk Factors, and a complete outline of the 2009 Operating and Financial guidance by region, please see the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on <span class="xn-chron">February 25, 2010</span>, available at <a href="http://www.newmont.com">www.newmont.com</a>.</p>
<p/>
<p>The Company's fourth quarter and year-end earnings conference call and web cast presentation will be held on <span class="xn-chron">Thursday, February 25, 2010</span> beginning at <span class="xn-chron">10:00 a.m. Eastern Time</span> (<span class="xn-chron">8:00 a.m. Mountain Time</span>).  To participate:</p>
<p/>
<p> </p>
<p> </p>
<pre>
    
    Dial-In Number               800.779.3178
    Intl Dial-In Number          415.228.4957
    Leader                       John Seaberg
    Passcode                     Newmont 
    Replay Number                866.451.8896
    Intl Replay Number           203.369.1202
    Replay Passcode              2010

    
</pre>
<p>The conference call also will be simultaneously carried on our web site at <a href="http://www.newmont.com">www.newmont.com</a> under Investor Relations/Presentations and will be archived there for a limited time.</p>
<pre>
    

    Cautionary Statement:

    
</pre>
<p>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 which are intended to be covered by the safe harbor created by such sections and other applicable laws.  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; (iv) statements regarding future exploration expenditures, results and reserves; (v) statements regarding fluctuations in capital and currency markets; (vi) statements regarding potential cost savings, productivity, operating performance, and cost structure; (vii) expectations regarding the ramp-up, mine life, production and costs applicable to sales and exploration potential of Boddington and the Company's other projects; and (viii) expectations regarding the impacts of operating, technical or geotechnical issues in connection with the Company's projects or operations.  Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect.  Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the Company's projects being consistent with current expectations and mine plans; (iii) political developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar to the U.S. dollar, as well as other the exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper and oil; (vi) prices for key supplies being approximately consistent with current levels; and (vii) the accuracy of our current mineral reserve and mineral resource estimates. 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 2009 Annual Report on Form 10-K, filed on <span class="xn-chron">February 25, 2010</span>, 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.</p>
<pre>
    

    (1) See reconciliation of adjusted net income to GAAP net income.
    
</pre>
<p>(2 ) "Gold operating margin" defined as average realized price per ounce less costs applicable to sales per ounce, excluding amortization and accretion per ounce.</p>
<p>(3) All references to expected production at each of our operations and regions are based on current mine plans, assumptions and current geotechnical, metallurgical, hydrological and other physical conditions.</p>
<pre>
    








    

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 Web Site: http://www.newmont.com

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Newmont Mining Corporation

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