(Mark One) | ||
þ
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934 |
|
For the Fiscal Year Ended December 31, 2008 | ||
or
|
||
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934 |
|
For the Transition Period From to |
Delaware
(State or Other Jurisdiction of Incorporation or Organization) |
84-1611629
(I.R.S. Employer Identification No.) |
|
6363 South Fiddlers Green Circle
Greenwood Village, Colorado (Address of Principal Executive Offices) |
80111
(Zip Code) |
Title of Each Class
|
Name of Each Exchange on Which Registered
|
|
Common Stock, $1.60 par value
|
New York Stock Exchange |
Large accelerated filer þ | Accelerated filer o | Non-accelerated filer o | Smaller reporting company o |
i
ii
ITEM 1. | BUSINESS (dollars in millions except per share, per ounce and per pound amounts) |
Revenues | Long-Lived Assets | |||||||||||||||||||||||
2008 | 2007 | 2006 | 2008 | 2007 | 2006 | |||||||||||||||||||
United States
|
31 | % | 29 | % | 29 | % | 26 | % | 29 | % | 24 | % | ||||||||||||
Peru
|
26 | % | 20 | % | 32 | % | 13 | % | 13 | % | 11 | % | ||||||||||||
Australia/New Zealand
|
17 | % | 15 | % | 15 | % | 20 | % | 15 | % | 20 | % | ||||||||||||
Indonesia
|
16 | % | 28 | % | 19 | % | 17 | % | 17 | % | 17 | % | ||||||||||||
Canada
|
| | 1 | % | 14 | % | 16 | % | 18 | % | ||||||||||||||
Ghana
|
7 | % | 6 | % | 3 | % | 9 | % | 9 | % | 9 | % | ||||||||||||
Other
(1)
|
3 | % | 2 | % | 1 | % | 1 | % | 1 | % | 1 | % |
(1) | Other includes Mexico and Bolivia. |
1
2
Year
|
High | Low | Average | |||||||||
1999
|
$ | 326 | $ | 253 | $ | 279 | ||||||
2000
|
$ | 313 | $ | 264 | $ | 279 | ||||||
2001
|
$ | 293 | $ | 256 | $ | 271 | ||||||
2002
|
$ | 349 | $ | 278 | $ | 310 | ||||||
2003
|
$ | 416 | $ | 320 | $ | 363 | ||||||
2004
|
$ | 454 | $ | 375 | $ | 410 | ||||||
2005
|
$ | 536 | $ | 411 | $ | 444 | ||||||
2006
|
$ | 725 | $ | 525 | $ | 604 | ||||||
2007
|
$ | 841 | $ | 608 | $ | 695 | ||||||
2008
|
$ | 1,011 | $ | 713 | $ | 872 | ||||||
2009 (through February 11, 2009)
|
$ | 938 | $ | 810 | $ | 874 |
3
Year
|
High | Low | Average | |||||||||
1999
|
$ | 0.84 | $ | 0.61 | $ | 0.71 | ||||||
2000
|
$ | 0.91 | $ | 0.73 | $ | 0.82 | ||||||
2001
|
$ | 0.83 | $ | 0.60 | $ | 0.72 | ||||||
2002
|
$ | 0.77 | $ | 0.64 | $ | 0.71 | ||||||
2003
|
$ | 1.05 | $ | 0.70 | $ | 0.81 | ||||||
2004
|
$ | 1.49 | $ | 1.06 | $ | 1.30 | ||||||
2005
|
$ | 2.11 | $ | 1.39 | $ | 1.67 | ||||||
2006
|
$ | 3.99 | $ | 2.06 | $ | 3.05 | ||||||
2007
|
$ | 3.77 | $ | 2.37 | $ | 3.24 | ||||||
2008
|
$ | 4.08 | $ | 1.26 | $ | 3.15 | ||||||
2009 (through February 11, 2009)
|
$ | 1.60 | $ | 1.38 | $ | 1.48 |
4
2008 | 2007 | 2006 | ||||||||||
(millions of equity ounces) | ||||||||||||
Opening balance
|
86.5 | 93.9 | 93.2 | |||||||||
Total
additions
(1)
|
5.2 | 0.8 | 5.9 | |||||||||
Acquisitions
(2)
|
| | 3.7 | |||||||||
Depletion
|
(6.7 | ) | (7.3 | ) | (7.4 | ) | ||||||
Other
divestments
(3)
|
| (0.9 | ) | (1.5 | ) | |||||||
Closing balance
|
85.0 | 86.5 | 93.9 | |||||||||
(1) | The impact of the change in gold price assumption on reserve additions was 1.9 million, 0.7 million and 3.1 million equity ounces in 2008, 2007 and 2006, respectively. | |
(2) | In March 2006, reserves were increased by 2.6 million equity ounces from the acquisition of an additional 22.22% interest in the Boddington project. In January 2006, reserves were increased by 1.1 million equity ounces from the acquisition of the remaining 15% interest in Akyem. | |
(3) | In December 2007, we sold the Pajingo operation. In May 2007, Newmonts economic interest in Batu Hijau was reduced from 52.875% to 45% when a minority owner fully repaid a loan from a Newmont subsidiary. In August 2006, the government of Uzbekistan expropriated the Companys 50% interest in the Zarafshan-Newmont Joint Venture. |
5
6
| Statements regarding future earnings; | |
| Estimates of future mineral production and sales, for specific operations and on a consolidated or equity basis; | |
| Estimates of future costs applicable to sales, other expenses and taxes for specific operations and on a consolidated basis; | |
| Estimates of future cash flows; | |
| Estimates of future capital expenditures and other cash needs, for specific operations and on a consolidated basis, and expectations as to the funding thereof; | |
| Estimates regarding timing of future capital expenditures, construction, production or closure activities; | |
| Statements as to the projected development of certain ore deposits, including the timing of such development, the costs of such development and financing plans for these deposits; | |
| Estimates of reserves and statements regarding future exploration results and reserve replacement and the sensitivity of reserves to metal price changes; | |
| Statements regarding the availability, terms and costs related to future borrowing, debt repayment and financing; | |
| Statements regarding modifications to hedge and derivative positions; | |
| Statements regarding political, economic or governmental conditions and environments; | |
| Statements regarding future transactions; | |
| Statements regarding the impacts of changes in the legal and regulatory environment in which we operate; and | |
| Estimates of future costs and other liabilities for certain environmental matters. |
7
ITEM 1A. | RISK FACTORS (dollars in millions except per share, per ounce and per pound amounts) |
| Risks related to the mining industry generally; and | |
| Risks related to Newmont. |
| Sales or leasing of gold by governments and central banks; | |
| U.S. dollar strength; | |
| Recession or reduced economic activity; | |
| Speculative selling; | |
| Decreased industrial, jewelry or investment demand; | |
| Increased supply from production, disinvestment and scrap; | |
| Sales by producers in forward and other hedging transactions; and | |
| Devaluing local currencies (relative to gold and copper priced in U.S. dollars) leading to lower production costs and higher production in certain regions. |
8
| Reduce revenues further through production declines due to cessation of the mining of deposits, or portions of deposits, that have become uneconomic at the then-prevailing gold or copper price; | |
| Reduce or eliminate the profit that we currently expect from ore stockpiles and ore on leach pads; | |
| Halt or delay the development of new projects; | |
| Reduce funds available for exploration; and | |
| Reduce existing reserves by removing ores from reserves that can no longer be economically processed at prevailing prices. |
9
| Cancellation or renegotiation of contracts; | |
| Disadvantages of competing against companies from countries that are not subject to U.S. laws and regulations, including the Foreign Corrupt Practices Act; | |
| Changes in foreign laws or regulations; | |
| Royalty and tax increases or claims by governmental entities, including retroactive claims; | |
| Expropriation or nationalization of property; | |
| Currency fluctuations (particularly in countries with high inflation); | |
| Foreign exchange controls; |
10
| Restrictions on the ability of local operating companies to sell gold offshore for U.S. dollars, or on the ability of such companies to hold U.S. dollars or other foreign currencies in offshore bank accounts; | |
| Import and export regulations, including restrictions on the export of gold; | |
| Restrictions on the ability to pay dividends offshore; | |
| Risk of loss due to civil strife, acts of war, guerrilla activities, insurrection and terrorism; | |
| Risk of loss due to disease and other potential endemic health issues; and | |
| Other risks arising out of foreign sovereignty over the areas in which our operations are conducted, including risks inherent in contracts with government owned entities. |
11
12
13
14
| Availability of labor, power, transportation, commodities and infrastructure; | |
| Changes in input commodity prices and labor costs; | |
| Fluctuations in currency exchange rates; | |
| Availability and terms of financing; | |
| Difficulty of estimating construction costs over a period of years; | |
| Delays in obtaining environmental or other government permits; | |
| Weather and severe climate impacts; and | |
| Potential delays related to social and community issues. |
15
16
17
29
128
151
152
153
154
155
156
159
160
161
162
163
E-2
E-3
E-4
E-5
E-6
E-7
ITEM 2.
PROPERTIES
(dollars in millions except per share, per ounce and per pound
amounts)
18
Table of Contents
19
Table of Contents
20
Table of Contents
21
Table of Contents
22
Table of Contents
23
Table of Contents
24
Table of Contents
Nevada, USA
Yanacocha, Peru
2008
2007
2006
2008
2007
2006
194,092
214,127
191,438
211,525
208,871
217,501
2,500
1,942
1,651
24,755
25,526
17,882
4,196
19,843
14,042
22,138
97,823
98,319
118,511
0.093
0.098
0.127
0.082
0.027
0.035
0.026
0.018
0.019
0.026
81.8
%
81.2
%
81.1
%
88.2
%
1,878
2,004
2,059
304
381
332
364
1,505
1,565
2,612
1
6
100
2,260
2,342
2,523
1,809
1,565
2,612
2,225
2,341
2,534
1,843
1,565
2,572
$
464
$
445
$
398
$
354
$
310
$
175
(39
)
(26
)
(15
)
(27
)
(22
)
(16
)
30
15
8
16
13
14
5
3
3
3
12
2
460
437
394
346
313
175
111
94
74
92
103
67
3
2
3
5
6
3
$
574
$
533
$
471
$
443
$
422
$
245
Australia/New Zealand
Batu Hijau, Indonesia
2008
2007
2006
2008
2007
2006
48,416
56,259
54,221
195,804
244,907
293,159
3,896
3,547
3,658
12,256
11,932
13,070
37,818
46,782
47,026
0.106
0.102
0.102
0.009
0.014
0.012
91.5
%
91.3
%
90.9
%
75.2
%
81.9
%
79.5
%
1,195
1,117
1,216
269
548
448
1,187
1,153
1,176
299
494
435
$
526
$
449
$
353
$
406
$
225
$
193
(9
)
(5
)
(10
)
(10
)
(8
)
(9
)
32
29
28
18
15
13
3
6
2
552
479
373
414
232
197
103
94
78
85
50
46
5
5
5
6
3
2
$
660
$
578
$
456
$
505
$
285
$
245
25
Table of Contents
Africa
2008
2007
2006
50,567
44,235
19,999
8,262
8,090
3,515
0.075
0.060
0.065
89.7
%
92.0
%
88.3
%
506
456
197
19
5
525
456
202
521
446
202
$
380
$
355
$
237
(1
)
(1
)
(1
)
27
21
18
2
1
3
408
376
257
126
96
94
3
1
1
$
537
473
352
Other Operations
Total Gold
2008
2007
2006
2008
2007
2006
12
59
4,152
4,137
3,979
181
175
208
2,067
2,072
3,184
20
6
105
181
187
267
6,239
6,215
7,268
180
185
267
6,255
6,184
7,186
$
451
$
334
$
214
$
433
$
384
$
285
(15
)
(18
)
(11
)
(25
)
(18
)
(13
)
27
(1
)
26
17
14
103
7
10
6
6
2
566
322
213
440
389
288
100
91
69
104
93
71
9
10
9
4
4
3
$
675
$
423
$
291
$
548
$
486
$
362
(1)
Incremental
start-up
includes the removal and production of de minimis saleable
materials during development and is recorded as
Other
income
, net of incremental mining and processing costs.
26
Table of Contents
Batu Hijau, Indonesia
2008
2007
2006
37,818
46,782
47,026
0.47
%
0.60
%
0.55
%
80.6
%
86.1
%
87.3
%
285
484
454
290
428
435
$
1.38
$
1.05
$
0.67
0.28
0.22
0.15
0.02
0.01
0.01
$
1.68
$
1.28
$
0.83
27
Table of Contents
December 31, 2008
Proven Reserves
Probable Reserves
Proven and Probable Reserves
Newmont
Grade
Grade
Grade
Metallurgical
Share
Tonnage
(2)
(oz/ton)
Ounces
(3)
Tonnage
(2)
(oz/ton)
Ounces
(3)
Tonnage
(2)
(oz/ton)
Ounces
(3)
Recovery
(3)
(000)
(000)
(000)
(000)
(000)
(000)
100
%
12,000
0.072
860
190,400
0.043
8,190
202,400
0.045
9,050
74
%
100
%
1,700
0.256
430
10,000
0.322
3,220
11,700
0.313
3,650
89
%
100
%
600
0.498
280
300
0.332
110
900
0.436
390
95
%
100
%
299,800
0.021
6,310
299,800
0.021
6,310
72
%
25
%
1,900
0.507
970
700
0.483
360
2,600
0.500
1,330
92
%
100
%
9,200
0.098
900
42,500
0.072
3,060
51,700
0.077
3,960
80
%
100
%
36,000
0.026
940
36,000
0.026
940
66
%
100
%
32,000
0.075
2,400
2,200
0.030
60
34,200
0.072
2,460
78
%
93,400
0.073
6,780
545,900
0.039
21,310
639,300
0.044
28,090
78
%
51.35
%
317,200
0.019
6,080
317,200
0.019
6,080
79
%
51.35
%
20,800
0.026
530
20,800
0.026
530
74
%
51.35
%
19,200
0.023
430
188,300
0.030
5,720
207,500
0.030
6,150
69
%
40,000
0.024
960
505,500
0.023
11,800
545,500
0.023
12,760
74
%
66.67
%
125,500
0.026
3,310
457,700
0.022
10,060
583,200
0.023
13,370
81
%
100
%
3,500
0.096
340
2,800
0.337
930
6,300
0.202
1,270
91
%
50
%
23,100
0.061
1,410
40,600
0.063
2,560
63,700
0.062
3,970
85
%
50
%
14,400
0.031
450
14,400
0.031
450
76
%
50
%
37,500
0.049
1,860
40,600
0.063
2,560
78,100
0.056
4,420
84
%
100
%
4,000
0.167
660
7,500
0.108
820
11,500
0.129
1,480
96
%
100
%
300
0.267
80
2,600
0.107
280
2,900
0.124
360
89
%
170,800
0.037
6,250
511,200
0.029
14,650
682,000
0.031
20,900
83
%
45
%
166,000
0.013
2,110
182,800
0.009
1,570
348,800
0.011
3,680
76
%
45
%
131,400
0.003
410
131,400
0.003
410
72
%
166,000
0.013
2,110
314,200
0.006
1,980
480,200
0.009
4,090
76
%
100
%
5,900
0.039
230
119,200
0.077
9,150
125,100
0.075
9,380
87
%
100
%
147,200
0.052
7,660
147,200
0.052
7,660
89
%
5,900
0.039
230
266,400
0.063
16,810
272,300
0.063
17,040
88
%
88
%
9,100
0.018
160
2,400
0.014
30
11,500
0.017
190
52
%
44
%
36,900
0.025
910
39,200
0.025
980
76,100
0.025
1,890
66
%
46,000
0.023
1,070
41,600
0.024
1,010
87,600
0.024
2,080
65
%
522,100
0.033
17,400
2,184,800
0.031
67,560
2,706,900
0.031
84,960
80
%
28
Table of Contents
December 31, 2007
Proven Reserves
Probable Reserves
Proven and Probable Reserves
Newmont
Grade
Grade
Grade
Metallurgical
Share
Tonnage
(2)
(oz/ton)
Ounces
(3)
Tonnage
(2)
(oz/ton)
Ounces
(3)
Tonnage
(2)
(oz/ton)
Ounces
(3)
Recovery
(3)
(000)
(000)
(000)
(000)
(000)
(000)
100
%
17,700
0.065
1,140
195,800
0.043
8,380
213,500
0.045
9,520
71
%
100
%
1,500
0.318
490
5,700
0.407
2,330
7,200
0.388
2,820
94
%
100
%
600
0.539
340
400
0.428
190
1,000
0.493
530
95
%
100
%
278,100
0.027
7,600
278,100
0.027
7,600
75
%
25
%
2,100
0.477
990
700
0.402
290
2,800
0.458
1,280
92
%
100
%
4,200
0.072
300
47,900
0.079
3,780
52,100
0.078
4,080
80
%
100
%
40,200
0.026
1,060
40,200
0.026
1,060
66
%
100
%
30,900
0.079
2,440
1,500
0.030
40
32,400
0.077
2,480
77
%
97,200
0.070
6,760
530,100
0.043
22,610
627,300
0.047
29,370
77
%
51.35
%
317,200
0.019
6,080
317,200
0.019
6,080
79
%
51.35
%
20,700
0.027
560
20,700
0.027
560
76
%
51.35
%
26,400
0.023
600
229,200
0.030
6,940
255,600
0.029
7,540
69
%
47,100
0.025
1,160
546,400
0.024
13,020
593,500
0.024
14,180
74
%
66.67
%
124,900
0.026
3,240
352,000
0.022
7,850
476,900
0.023
11,090
82
%
100
%
3,000
0.148
450
3,700
0.283
1,040
6,700
0.222
1,490
91
%
50
%
32,500
0.061
1,980
33,600
0.065
2,190
66,100
0.063
4,170
86
%
50
%
13,500
0.031
420
13,500
0.031
420
79
%
50
%
46,000
0.052
2,400
33,600
0.065
2,190
79,600
0.058
4,590
85
%
100
%
6,600
0.140
920
6,700
0.115
770
13,300
0.127
1,690
95
%
100
%
3,800
0.131
500
3,800
0.131
500
89
%
180,500
0.039
7,010
399,800
0.031
12,350
580,300
0.033
19,360
85
%
45
%
132,700
0.013
1,780
246,200
0.008
2,050
378,900
0.010
3,830
77
%
45
%
114,300
0.004
410
114,300
0.004
410
64
%
132,700
0.013
1,780
360,500
0.007
2,460
493,200
0.009
4,240
76
%
100
%
124,000
0.078
9,720
124,000
0.078
9,720
87
%
100
%
147,200
0.052
7,660
147,200
0.052
7,660
89
%
271,200
0.064
17,380
271,200
0.064
17,380
88
%
88
%
7,800
0.018
140
17,400
0.016
280
25,200
0.017
420
59
%
44
%
32,600
0.023
760
35,100
0.023
820
67,700
0.023
1,580
66
%
40,400
0.022
900
52,500
0.021
1,100
92,900
0.022
2,000
65
%
497,900
0.035
17,610
2,160,500
0.032
68,920
2,658,400
0.033
86,530
80
%
(1)
The term reserve means that part of a mineral
deposit that can be economically and legally extracted or
produced at the time of the reserve determination.
The term economically, as used in the definition of
reserve, means that profitable extraction or production has been
established or analytically demonstrated in a full feasibility
study to be viable and justifiable under reasonable investment
and market assumptions.
The term legally, as used in the definition of
reserve, does not imply that all permits needed for mining and
processing have been obtained or that other legal issues have
been completely resolved. However, for a reserve to exist,
Newmont must have a justifiable expectation, based on
Table of Contents
applicable laws and regulations, that issuance of permits or
resolution of legal issues necessary for mining and processing
at a particular deposit will be accomplished in the ordinary
course and in a timeframe consistent with Newmonts current
mine plans.
The term proven reserves means reserves for which
(a) quantity is computed from dimensions revealed in
outcrops, trenches, workings or drill holes; (b) grade
and/or quality are computed from the results of detailed
sampling; and (c) the sites for inspection, sampling and
measurements are spaced so closely and the geologic character is
sufficiently defined that size, shape, depth and mineral content
of reserves are well established.
The term probable reserves means reserves for which
quantity and grade are computed from information similar to that
used for proven reserves, but the sites for sampling are farther
apart or are otherwise less adequately spaced. The degree of
assurance, although lower than that for proven reserves, is high
enough to assume continuity between points of observation.
References to equity ounces or equity
pounds mean that portion of gold or copper produced, sold
or included in proven and probable reserves that is attributable
to our ownership or economic interest.
Proven and probable equity reserves were calculated using
different cut-off grades. The term cut-off grade
means the lowest grade of mineralized material considered
economic to process. Cut-off grades vary between deposits
depending upon prevailing economic conditions, mineability of
the deposit, by-products, amenability of the ore to gold or
copper extraction, and type of milling or leaching facilities
available.
2008 reserves were calculated at a $725, A$850 or NZ$1,000 per
ounce gold price unless otherwise noted.
2007 reserves were calculated at a $575, A$750 or NZ$850 per
ounce gold price unless otherwise noted.
(2)
Tonnages include allowances for losses resulting from mining
methods. Tonnages are rounded to the nearest 100,000.
(3)
Ounces or pounds are estimates of metal contained in ore
tonnages and do not include allowances for processing losses.
Metallurgical recovery rates represent the estimated amount of
metal to be recovered through metallurgical extraction
processes. Ounces are rounded to the nearest 10,000.
(4)
Cut-off grades utilized in Nevada 2008 reserves were as follows:
oxide leach material not less than 0.006 ounce per ton; oxide
mill material not less than 0.025 ounce per ton; refractory
leach material not less than 0.025 ounce per ton; and refractory
mill material not less than 0.052 ounce per ton.
(5)
Includes undeveloped reserves at Castle Reef and Emigrant
deposits for combined total undeveloped reserves of
1.4 million ounces.
(6)
Also contains reserves of 5.9 million ounces of silver with
a metallurgical recovery of 88%.
(7)
Gold cut-off grade varies with level of copper credits.
(8)
Reserve estimates provided by Barrick, the operator of the
Turquoise Ridge joint venture.
(9)
In-process material is the material on leach pads at the end of
the year from which gold remains to be recovered. In-process
material reserves are reported separately where tonnage or
ounces are greater than 5% of the total site-reported reserves
and ounces are greater than 100,000.
(10)
Stockpiles are comprised primarily of material that has been set
aside to allow processing of higher grade material in the mills.
Stockpiles increase or decrease depending on current mine plans.
Stockpile reserves are reported separately where tonnage or
ounces are greater than 5% of the total site-reported reserves
and ounces are greater than 100,000.
(11)
Deposit is currently undeveloped. Gold cut-off grade varies with
level of copper credits.
30
Table of Contents
(12)
Reserves include the currently undeveloped deposit at Corimayo,
which contains reserves of 1.2 million equity ounces.
Cut-off grades utilized in 2008 reserves were as follows: oxide
leach material not less than 0.004 ounce per ton; and oxide mill
material not less than 0.030 ounce per ton.
(13)
Deposit is currently being developed. Mill startup is expected
in mid-2009. Gold cut-off grade varies with level of copper
credits. In March 2009, we expect to close the acquisition
transaction for the additional 33.33% interest in Boddington
from AngloGold Ashanti Ltd., which would increase Newmonts
share to 100% and add approximately 6.7 million ounces to
our equity reserves.
(14)
Cut-off grade utilized in 2008 reserves not less than 0.020
ounce per ton.
(15)
Cut-off grade utilized in 2008 reserves not less than 0.026
ounce per ton.
(16)
Cut-off grade utilized in 2008 reserves not less than 0.029
ounce per ton.
(17)
Cut-off grade utilized in 2008 reserves not less than 0.023
ounce per ton.
(18)
Gold cut-off grade varies with level of copper credits.
(19)
Includes undeveloped reserves at Amoma, Yamfo South, Yamfo
Central, Techire West, Subenso South, Subenso North, Yamfo
Northeast and Susuan totaling 3.7 million ounces. Cut-off
grade utilized in 2008 reserves not less than 0.018 ounce per
ton.
(20)
Deposit is undeveloped. Cut-off grade utilized in 2008 reserves
not less than 0.012 ounce per ton.
(21)
Cut-off grade utilized in 2008 reserves not less than 0.004
ounce per ton.
(22)
Cut-off grade utilized in 2008 reserves not less than 0.009
ounce per ton.
December 31, 2008
Proven Reserves
Probable Reserves
Proven and Probable Reserves
Newmont
Grade
Grade
Grade
Metallurgical
Share
Tonnage
(2)
(Cu %)
Pounds
(3)
Tonnage
(2)
(Cu %)
Pounds
(3)
Tonnage
(2)
(Cu %)
Pounds
(3)
Recovery
(3)
(000)
(000)
(000)
(millions)
(millions)
(millions)
45
%
166,000
0.48
%
1,600
182,800
0.40
%
1,460
348,800
0.44
%
3,060
77
%
45
%
131,400
0.34
%
890
131,400
0.34
%
890
67
%
45
%
166,000
0.48
%
1,600
314,200
0.37
%
2,350
480,200
0.41
%
3,950
75
%
66.67
%
125,500
0.11
%
280
457,700
0.11
%
1,000
583,200
0.11
%
1,280
83
%
51.35
%
317,200
0.26
%
1,660
317,200
0.26
%
1,660
85
%
100
%
302,000
0.15
%
890
302,000
0.15
%
890
61
%
291,500
0.32
%
1,880
1,391,100
0.21
%
5,900
1,682,600
0.23
%
7,780
77
%
December 31, 2007
Proven Reserves
Probable Reserves
Proven and Probable Reserves
Newmont
Grade
Grade
Grade
Metallurgical
Share
Tonnage
(2)
(Cu %)
Pounds
(3)
Tonnage
(2)
(Cu %)
Pounds
(3)
Tonnage
(2)
(Cu %)
Pounds
(3)
Recovery
(3)
(000)
(000)
(000)
(millions)
(millions)
(millions)
45
%
132,700
0.50
%
1,330
246,200
0.40
%
1,970
378,900
0.43
%
3,300
79
%
45
%
114,300
0.36
%
820
114,300
0.36
%
820
64
%
45
%
132,700
0.50
%
1,330
360,500
0.39
%
2,790
493,200
0.42
%
4,120
76
%
66.67
%
124,900
0.11
%
280
351,600
0.11
%
750
476,500
0.11
%
1,030
83
%
51.35
%
317,200
0.26
%
1,660
317,200
0.26
%
1,660
85
%
100
%
279,600
0.13
%
740
279,600
0.13
%
740
66
%
257,600
0.31
%
1,610
1,308,900
0.23
%
5,940
1,566,500
0.24
%
7,550
78
%
(1)
See footnote (1) to the Gold Proven and Probable Equity
Reserves tables above. Copper reserves for 2008 were calculated
at a $2.00 or A$2.40 per pound copper price. Copper reserves for
2007 were calculated at a $1.75 or A$2.00 per pound copper price.
31
Table of Contents
(2)
See footnote (2) to the Gold Proven and Probable Equity
Reserves tables above. Tonnages are rounded to nearest 100,000.
(3)
See footnote (3) to the Gold Proven and Probable Equity
Reserves tables above. Pounds are rounded to the nearest
10 million.
(4)
Copper cut-off grade varies with level of gold credits.
(5)
Stockpiles are comprised primarily of material that has been set
aside to allow processing of higher grade material in the mills.
Stockpiles increase or decrease depending on current mine plans.
Stockpiles are reported separately where tonnage or contained
metal are greater than 5% of the total site reported reserves.
(6)
Deposit is currently being developed. Mill startup is expected
in mid-2009. Copper cut-off grade varies with level of gold
grade. In March 2009, we expect to close the acquisition
transaction for the additional 33.33% interest in Boddington
from AngloGold Ashanti Ltd., which would increase Newmonts
share to 100% and add approximately 640 million pounds to
our equity reserves.
(7)
Deposit is undeveloped. Copper cut-off grade varies with level
of gold grade.
(8)
Copper cut-off grade varies with level of gold grade.
Equity
Ounces
(in millions)
86.5
(6.7
)
5.2
85.0
(1)
Reserves mined and processed in 2008.
(2)
Revisions and additions are due to reserve conversions,
optimizations, model updates, metal price changes and updated
operating costs and recoveries.
ITEM 3.
LEGAL
PROCEEDINGS
ITEM 4.
SUBMISSION
OF MATTERS TO A VOTE OF SECURITY HOLDERS
32
Table of Contents
ITEM 4A.
EXECUTIVE
OFFICERS OF THE REGISTRANT
Age
54
President and Chief Executive Officer
40
Executive Vice President and Chief Financial Officer
52
Executive Vice President, Legal and External Affairs
42
Executive Vice President, Strategic Development
49
Executive Vice President, Operations
48
Executive Vice President, Development
53
Senior Vice President, North American Operations
53
Senior Vice President, African Operations
53
Senior Vice President, South American Operations
54
Vice President, Accounting and Tax
51
Vice President and Chief Accounting Officer
53
Vice President and Treasurer
33
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34
Table of Contents
ITEM 5.
MARKET
FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS
AND ISSUER PURCHASE OF EQUITY SECURITIES
2008
2007
High
Low
High
Low
$
56.22
$
45.30
$
47.71
$
41.42
$
52.68
$
42.93
$
45.00
$
38.53
$
53.37
$
33.73
$
48.26
$
39.44
$
40.70
$
21.54
$
54.50
$
44.75
(a)
(b)
(c)
(d)
Maximum Number
Total Number of
(or Approximate
Total
Shares Purchased
Dollar Value)
Number of
Average
as Part of Publicly
of Shares That May Yet
Shares
Price Paid
Announced Plans
be Purchased under
Purchased
per Share
or Programs
the Plans or Programs
4,275
(1)
$
22.83
N/A
$
N/A
$
N/A
(1)
Represents shares delivered to the Company from restricted stock
held by a Company employee upon vesting for purposes of covering
the recipients tax withholding obligation.
35
Table of Contents
ITEM 6.
SELECTED
FINANCIAL DATA (dollars in millions, except per
share)
Years Ended December 31,
2008
2007
2006
2005
2004
$
6,199
$
5,526
$
4,882
$
4,265
$
4,222
$
829
$
(963
)
$
563
$
278
$
416
$
853
$
(1,886
)
$
791
$
322
$
443
$
1.83
$
(2.13
)
$
1.25
$
0.62
$
0.94
0.05
(2.04
)
0.51
0.10
0.17
(0.11
)
$
1.88
$
(4.17
)
$
1.76
$
0.72
$
1.00
$
1.82
$
(2.13
)
$
1.25
$
0.62
$
0.93
0.05
(2.04
)
0.51
0.10
0.17
(0.11
)
$
1.87
$
(4.17
)
$
1.76
$
0.72
$
0.99
$
0.40
$
0.40
$
0.40
$
0.40
$
0.30
At December 31,
2008
2007
2006
2005
2004
$
15,839
$
15,598
$
15,601
$
13,992
$
12,776
$
3,542
$
2,938
$
1,911
$
1,918
$
1,590
$
7,102
$
7,548
$
9,337
$
8,376
$
7,938
(1)
Net income includes the cumulative effect of a change in
accounting principle related to a net expense for the
consolidation of Batu Hijau of $47 ($0.11 per share, basic) net
of tax and minority interest in 2004.
(2)
Net income (loss) includes income (loss) from discontinued
operations for Merchant Banking, Pajingo, Zarafshan, Holloway
and Golden Grove of $24 ($0.05 per share, basic), ($923) ($2.04
per share, basic), $228 ($0.51 per share, basic), $44 ($0.10 per
share, basic) and $74 ($0.17 per share, basic) net of tax in
2008, 2007, 2006, 2005 and 2004, respectively.
36
Table of Contents
ITEM 7.
MANAGEMENTS
DISCUSSION AND ANALYSIS OF CONSOLIDATED FINANCIAL CONDITION AND
RESULTS OF OPERATIONS (dollars in millions, except per share,
per ounce and per pound amounts)
Overview,
which provides a brief summary of
our consolidated results and financial position and the primary
factors affecting those results, as well as a summary of our
expectations for 2009;
Accounting Developments,
which provides a
discussion of recent changes to our accounting policies that
have affected our consolidated results and financial position;
Critical Accounting Policies,
which provides
an analysis of the accounting policies we consider critical
because of their effect on the reported amounts of assets,
liabilities, income
and/or
expenses in our consolidated financial statements
and/or
because they require difficult, subjective or complex judgments
by our management;
Consolidated Financial Results,
which
includes a discussion of our consolidated financial results for
the last three years;
Results of Consolidated Operations,
which
sets forth an analysis of the operating results for the last
three years;
Recently Issued Accounting Pronouncements,
which summarizes recently published authoritative accounting
guidance, how it might apply to us and how it might affect our
future results; and
Liquidity and Capital Resources,
which
contains a discussion of our cash flows and liquidity, investing
activities and financing activities, contractual obligations and
off-balance sheet arrangements.
37
Table of Contents
Years Ended December 31,
2008
2007
2006
$
6,199
$
5,526
$
4,882
$
829
$
(963
)
$
563
$
853
$
(1,886
)
$
791
$
1.83
$
(2.13
)
$
1.25
$
1.88
$
(4.17
)
$
1.76
6,255
6,184
7,186
290
428
435
$
874
$
697
$
594
$
2.59
$
2.86
$
1.54
$
440
$
389
$
288
$
1.38
$
1.05
$
0.67
(1)
Includes incremental
start-up
ounces of 20, 6 and 100 in 2008, 2007 and 2006, respectively.
Incremental
start-up
includes the removal and production of de minimis saleable
materials during development and is recorded as
Other
income
, net of incremental mining and processing costs.
(2)
After treatment and refining charges and excluding settlement of
price-capped forward sales contracts.
(3)
Excludes
Amortization
,
Accretion
, the 2007
Loss
on settlement of price-capped forward sales contracts
and
the 2007
Midas redevelopment
.
Reclamation and remediation costs ($102, primarily at former
mining operations);
Advanced projects, research and development expense ($166,
primarily at our Fort a la Corne JV diamond, Hope Bay,
Euronimba and Ghana investments);
Losses on write-down of marketable equity securities and other
assets ($251, as the credit crisis affected the market for
junior mining companies);
38
Table of Contents
Write-down of property, plant and mine development ($137,
primarily related to assets in Canada, Indonesia and
Nevada); and
Tax planning and restructuring ($159).
December 31,
2008
2007
$
3,542
$
2,938
$
7,102
$
7,548
$
435
$
1,231
$
621
$
1,500
Net proceeds from the issuance of debt of $591;
Net cash provided from continuing operations of $1,403;
Capital expenditures of $1,875;
Completion of the Miramar acquisition for $325;
Dividends paid to common shareholders of $182;
Dividends paid to minority interests of $389; and
Changes in the value of our marketable equity securities as a
result of broad declines in the equity markets.
Fluctuations in gold and copper prices;
We expect higher 2009 consolidated gold sales of approximately
6.35 to 6.85 million ounces, primarily as a result of the
start-up
of
Boddington, completion of the acquisition of the remaining
33.33% of Boddington, as well as increased gold sales at
Yanacocha and Batu Hijau, partially offset by lower sales in
Nevada;
Costs applicable to sales gold
for 2009 are
expected to be approximately $400 to $440 per ounce due to the
start-up
of
lower cost production from Boddington (100%), higher expected
gold sales from our Yanacocha and Batu Hijau operations, as well
as lower oil price and Australian dollar exchange rate
assumptions, partially offset by lower by-product credits
resulting from lower copper price assumptions;
We expect 2009 consolidated copper sales of approximately 460 to
510 million pounds at
Costs applicable to sales
of
approximately $0.65 to $0.75 per pound as a result of higher
expected sales, processing higher grade ore and lower waste
removal costs.
We anticipate capital expenditures of approximately $1,400 to
$1,600 in 2009, with approximately 60% in Australia/New Zealand,
15% in Nevada and the remaining 25% invested at other locations.
Approximately 45% of the 2009 capital budget is allocated to
sustaining investments, with the remaining 55% allocated to
project development initiatives, including completion of the
Boddington project (100%) in Australia;
39
Table of Contents
In March 2009, we expect to close the acquisition transaction
for the additional 33.33% interest in Boddington from AngloGold
Ashanti Ltd. for $750 payable in cash at closing, $240 payable
in cash
and/or
Newmont common stock, at our option, in December 2009, and a
royalty capped at $100, equal to 50% of the average realized
operating margin (Revenue less
Costs applicable to sales
on a by-product basis), if any, exceeding $600 per ounce,
payable on one-third of gold sales from Boddington.
We expect 2009 exploration expenditures of approximately $165 to
$175 and 2009 advanced projects, research and development
expenditures of approximately $120 to $150.
In February 2009, we completed a public offering of $518
convertible senior notes, maturing February 15, 2012 for
net proceeds of $504.
In February 2009, we completed a public offering of 34,500,000
of our common shares for net proceeds of $1,233.
The completion of the Boddington project as well as potential
future investments in the Hope Bay project in Canada, the Akyem
project in Ghana and the Conga project in Peru will require
significant funding. Our operating cash flow may become
insufficient to meet the funding requirements of these
investments, fund our ongoing business activities and pay
dividends. Our ability to raise and service significant new
sources of capital will be a function of macroeconomic
conditions, future gold and copper prices and our operational
performance, among other factors. In the event of lower gold and
copper prices, unanticipated operating or financial challenges,
or new funding limitations, our ability to pursue new business
opportunities, invest in existing and new projects, fund our
ongoing business activities and pay dividends could be
significantly constrained; and
Our 2009 expectations, particularly with respect to sales
volumes and costs applicable to sales per ounce or pound, may
differ significantly from actual quarter and full year results
due to the
start-up
of
our Boddington project (100%) and variations in: mine planning
and sequencing, ore grades and hardness, metal recoveries, waste
removal, commodity input prices, foreign currency exchange rates
and gold and copper sales prices.
40
Table of Contents
Unadjusted quoted prices in active markets that are accessible
at the measurement date for identical, unrestricted assets or
liabilities;
Quoted prices in markets that are not active, or inputs that are
observable, either directly or indirectly, for substantially the
full term of the asset or liability;
Prices or valuation techniques that require inputs that are both
significant to the fair value measurement and unobservable
(supported by little or no market activity).
41
Table of Contents
Fair Value at December 31, 2008
Total
Level 1
Level 2
Level 3
$
14
$
14
$
$
621
621
27
27
$
662
$
635
$
$
27
$
5
$
5
$
$
140
140
92
92
$
237
$
5
$
232
$
42
Table of Contents
$
31
(7
)
3
$
27
43
Table of Contents
44
Table of Contents
45
Table of Contents
46
Table of Contents
47
Table of Contents
48
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49
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Years Ended December 31,
2008
2007
2006
$
5,460
$
4,332
$
4,241
(13
)
(27
)
(30
)
$
5,447
$
4,305
$
4,211
6,255
6,184
7,186
(20
)
(6
)
(100
)
6,235
6,178
7,086
$
876
$
701
$
599
$
874
$
697
$
594
2008 vs.
2007 vs.
2007
2006
$
40
$
(544
)
1,088
635
14
3
$
1,142
$
94
(1)
Incremental
start-up
includes the removal and production of de minimis saleable
materials during development and is recorded as
Other
income
, net of incremental mining and processing costs.
50
Table of Contents
Years Ended December 31,
2008
2007
2006
$
878
$
1,409
$
1,333
(47
)
(34
)
165
(1
)
(633
)
831
1,374
865
(79
)
(153
)
(194
)
$
752
$
1,221
$
671
290
428
435
$
3.03
$
3.30
$
3.07
(0.16
)
(0.09
)
0.38
(1.46
)
2.87
3.21
1.99
(0.28
)
(0.35
)
(0.45
)
$
2.59
$
2.86
$
1.54
2008 vs.
2007 vs.
2007
2006
$
(443
)
$
(15
)
(100
)
524
74
41
$
(469
)
$
550
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Years Ended December 31,
2008
2007
2006
$
1,929
$
1,616
$
1,441
1,613
1,093
1,543
321
305
250
264
224
198
342
214
190
123
66
71
1,050
809
709
261
351
264
435
306
124
83
61
48
75
60
77
8
35
158
129
160
1
1
(30
)
$
5,447
$
4,305
$
4,211
$
752
$
1,221
$
671
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Costs Applicable to Sales
Amortization
Years Ended December 31,
Years Ended December 31,
2008
2007
2006
2008
2007
2006
$
1,022
$
1,021
$
960
$
246
$
220
$
180
637
490
450
170
160
172
220
181
150
39
37
30
231
191
158
16
24
25
149
138
107
34
26
26
55
42
23
33
22
10
655
552
438
122
109
91
124
114
86
25
25
20
205
168
52
63
43
19
38
29
19
8
7
8
64
28
26
10
10
9
2
12
1
102
59
57
18
17
18
2,745
2,404
2,043
644
574
500
399
450
292
80
96
66
1
1
3
3
3
3
1
1
18
21
16
23
25
23
$
3,144
$
2,854
$
2,335
$
747
$
695
$
589
53
Table of Contents
Years Ended December 31,
2008
2007
2006
$
39
$
$
26
23
15
25
15
7
3
7
6
15
6
7
10
4
3
6
46
24
22
$
166
$
62
$
81
54
Table of Contents
Years Ended December 31,
2008
2007
2006
$
102
$
29
$
47
65
58
55
48
38
38
18
11
1
18
10
22
15
3
13
17
11
11
13
10
8
3
9
1
3
12
22
48
48
50
$
360
$
246
$
251
Years Ended December 31,
2008
2007
2006
$
110
$
47
$
30
32
30
29
50
67
12
3
19
10
16
19
10
4
(60
)
(12
)
25
5
(114
)
(46
)
(40
)
16
7
13
$
123
$
106
$
53
55
Table of Contents
56
Table of Contents
57
Table of Contents
Years Ended December 31,
2008
2007
2006
$
232
$
108
$
256
98
299
103
(1
)
3
4
$
329
$
410
$
363
Years Ended December 31,
2008
2007
2006
$
(2
)
$
1
$
1
(3
)
(8
)
(2
)
6
3
$
(5
)
$
(1
)
$
2
58
Table of Contents
Years Ended December 31,
2008
2007
2006
$
$
119
$
157
$
6
$
123
$
67
8
12
6
6
131
85
1
8
77
13
1
85
13
905
266
30
(1,665
)
(101
)
7
(544
)
293
17
(379
)
(65
)
$
24
$
(923
)
$
228
59
Table of Contents
(1)
Includes incremental
start-up
ounces of 20, 6 and 100 in 2008, 2007 and 2006, respectively.
(2)
Excludes
Amortization
,
Accretion
,
Loss on
settlement of price-capped forward sales contracts
and the
2007
Midas redevelopment.
(3)
Consolidated gold ounces and copper pounds sold includes
minority interests share.
(4)
Economic interest decreased to 45% from 52.875% on May 25,
2007.
higher production at Yanacocha due to
start-up
of
milling operations;
higher production at Ahafo due to higher ore grades; partially
offset by
lower production at Batu Hijau due to lower ore grades,
throughput and recovery.
lower production at Nevada due to lower ore grades;
lower production at Yanacocha due to lower ore grade and tons
placed on the leach pads; partially offset by
a full year of operations at Ahafo and Leeville and Phoenix
(Nevada); and
higher production at Batu Hijau due to higher ore grades.
60
Table of Contents
Gold Ounces
Sold
(1)
Costs Applicable to
Sales
(2)
Amortization
2008
2007
2006
2008
2007
2006
2008
2007
2006
(in thousands)
($ per ounce)
($ per ounce)
2,225
2,341
2,534
$
460
$
437
$
394
$
111
$
94
$
74
(1)
Includes incremental
start-up
ounces of 1, 6, and 100 in 2008, 2007 and 2006, respectively.
(2)
Excludes
Amortization, Accretion
, the 2007
Loss on
settlement of price-capped forward sales contracts
and the
2007
Midas redevelopment
.
61
Table of Contents
Gold Ounces
Sold
(1)
Costs Applicable to
Sales
(2)
Amortization
2008
2007
2006
2008
2007
2006
2008
2007
2006
(in thousands)
($ per ounce)
($ per ounce)
1,843
1,565
2,572
$
346
$
313
$
175
$
92
$
103
$
67
(1)
Consolidated gold ounces sold includes minority interests
share (51.35% owned).
(2)
Excludes
Amortization
,
Accretion
and the 2007
Loss on settlement of price-capped forward sales
contracts
.
62
Table of Contents
Gold Ounces Sold
Costs Applicable to
Sales
(1)
Amortization
2008
2007
2006
2008
2007
2006
2008
2007
2006
(in thousands)
($ per ounce)
($ per ounce)
377
298
306
$
395
462
$
351
$
91
$
88
$
85
365
439
418
604
413
359
108
85
72
304
323
332
760
591
477
52
74
76
141
93
120
390
451
191
234
226
83
1,187
1,153
1,176
$
552
$
479
$
373
$
103
$
94
$
78
(1)
Excludes
Amortization
,
Accretion
and the 2007
Loss on settlement of price-capped forward sales
contracts
.
63
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64
Table of Contents
Gold Ounces or Copper Pounds Sold
Costs Applicable to
Sales
(1)
Amortization
2008
2007
2006
2008
2007
2006
2008
2007
2006
(ounces in thousands)
($ per ounce)
($ per ounce)
299
494
435
$
414
$
232
$
197
$
85
$
50
$
46
(pounds in millions)
($ per pound)
($ per pound)
290
428
435
$
1.38
$
1.05
$
0.67
$
0.28
$
0.22
$
0.15
(1)
Excludes
Amortization
,
Accretion
and the 2007
Loss on settlement of price-capped forward sales
contracts
.
(2)
Consolidated gold ounces and copper pounds sold includes
minority interests share.
(3)
Economic interest decreased to 45% from 52.875% on May 25,
2007.
65
Table of Contents
66
Table of Contents
Gold Ounces
Sold
(1)
Costs Applicable to
Sales
(2)
Amortization
2008
2007
2006
2008
2007
2006
2008
2007
2006
(in thousands)
($ per ounce)
($ per ounce)
521
446
202
$
408
$
376
$
257
$
126
$
96
$
94
(1)
Includes incremental
start-up
ounces of 19 in 2008.
(2)
Excludes
Amortization
,
Accretion
and the 2007
Loss on settlement of price-capped forward sales
contracts
.
67
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Gold Ounces Sold
Costs Applicable to
Sales
(1)
Amortization
2008
2007
2006
2008
2007
2006
2008
2007
2006
(in thousands)
($ per ounce)
($ per ounce)
95
86
79
$
397
$
340
$
244
$
86
$
77
$
114
85
87
129
754
325
200
116
117
68
12
59
177
200
10
180
185
267
$
566
$
322
$
213
$
100
$
91
$
69
(1)
Excludes
Amortization
,
Accretion
and the 2007
Loss on settlement of price-capped forward sales
contracts
.
(2)
Consolidated gold ounces sold includes minority interests
share.
68
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69
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70
Table of Contents
71
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Years Ended December 31,
2008
2007
2006
6,255
6,184
7,186
$
874
$
697
$
594
$
440
$
389
$
288
290
428
435
$
2.59
$
2.86
$
1.54
$
1.38
$
1.05
$
0.67
(1)
Includes incremental
start-up
ounces of 20, 6 and 100 in 2008, 2007 and 2006, respectively.
Incremental
start-up
includes the removal and production of de minimis saleable
materials during development and is recorded as
Other
income
, net of incremental mining and processing costs.
(2)
After treatment and refining charges and excluding settlement of
price-capped forward sales contracts.
(3)
Excludes
Amortization
,
Accretion
, the 2007
Loss
on settlement of price-capped forward sales contracts
and
the 2007
Midas redevelopment
.
72
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Years Ended December 31,
2008
2007
2006
$
337
$
588
$
705
239
253
269
37
41
23
49
41
31
14
5
14
27
39
28
833
468
93
2
5
3
962
599
192
84
74
106
115
114
177
2
20
57
117
134
234
82
5
3
1
28
10
10
33
13
11
21
11
20
$
1,875
$
1,672
$
1,537
73
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74
Table of Contents
75
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Years Ended December 31,
2008
2007
2006
$
(111
)
$
90
$
74
48
34
10
(22
)
$
(111
)
$
138
$
96
Years Ended December 31,
2008
2007
2006
$
(6
)
$
1,197
$
353
(6
)
(20
)
77
88
(2
)
(2
)
7
$
(6
)
$
1,354
$
338
76
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77
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Payments Due by Period
Less Than
1-3
4-5
More Than
Total
1 Year
Years
Years
5 Years
$
4,369
$
213
$
1,435
$
775
$
1,946
297
52
163
73
9
1,352
68
195
118
971
231
70
87
40
34
167
167
99
12
34
17
36
187
19
56
38
74
198
49
59
36
54
1,067
406
623
35
3
$
7,967
$
889
$
2,652
$
1,132
$
3,294
(1)
Amounts represent principal ($3,541) and estimated interest
payments ($1,125) assuming no early extinguishment.
(2)
Mining operations are subject to extensive environmental
regulations in the jurisdictions in which they operate. Pursuant
to environmental regulations, we are required to close our
operations and reclaim and remediate the lands that operations
have disturbed. The estimated undiscounted cash outflows of
these remediation and reclamation obligations are reflected
here. For more information regarding remediation and reclamation
liabilities, see Note 25 to the Consolidated Financial
Statements.
(3)
Contractual obligations for
Employee-related benefits
include severance, workers participation, pension
funding and other benefit plans. Pension plan funding beyond
2013 cannot be reasonably estimated given variable market
conditions and actuarial assumptions and are not included.
(4)
As of December 31, 2008, our FIN 48 liability and
FIN 48 interest payable were $130 and $37, respectively. We
are unable to reasonably estimate the timing of our FIN 48
liability and interest payments beyond 2009 due to uncertainties
in the timing of the effective settlement of tax positions.
(5)
Purchase obligations are not recorded in the Consolidated
Financial Statements. Purchase obligations represent contractual
obligations for purchase of power, materials and supplies,
consumables, inventories and capital projects.
(6)
Other contractual obligations that are not reflected in our
Consolidated Financial Statements include labor and service
contracts. Payments related to derivative contracts cannot be
reasonably estimated given variable market conditions. See
Note 14 to the Consolidated Financial Statements.
78
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79
Table of Contents
Total Capitalization as of December 31, 2008
Pro-Forma
Pro-Forma
Actual
Adjustments
Balance
$
447
$
1,737
$
2,184
$
$
444
$
444
575
(127
)
448
575
(174
)
401
2,390
2,390
$
3,540
$
143
$
3,683
$
709
$
55
$
764
6,639
1,444
8,083
(253
)
(253
)
7
(30
)
(23
)
$
7,102
$
1,469
$
8,571
$
10,642
$
1,612
$
12,254
80
Table of Contents
ITEM 7A.
QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK (dollars in
millions except per share, per ounce and per pound
amounts)
81
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82
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83
Table of Contents
Expected Maturity Date
Fair Value
Total/
At December 31,
2009
2010
2011
Average
2008
2007
$
35
$
$
$
35
$
(4
)
(1)
$
(1
)
(1)
10,238
10,238
$
376
$
282
$
85
$
743
$
(85
)
(2)
$
(2)
0.79
0.78
0.74
0.78
$
37
$
12
$
$
49
$
(6
)
(3)
$
(3)
0.67
0.62
0.66
$
325
$
$
$
325
$
(40
)
(4)
$
(1
)
(4)
0.80
0.80
$
28
$
$
$
28
$
1
(4)
$
1
(4)
0.70
0.70
(1)
The fair value of the IDR operating forward purchase contracts
includes $4 and $1 in
Other current liabilities
as of
December 31, 2008 and December 31, 2007, respectively.
(2)
The fair value of the A$ operating forward purchase contracts
includes $1 in
Other current assets,
$1 in
Other
long-term assets
, $45 in
Other current liabilities
,
and $42 in
Other long-term liabilities
as of
December 31, 2008. The fair value of the A$ operating
forward purchase contracts included $2 in
Other current
assets,
$2 in
Other long-term assets
, $1 in
Other
current liabilities
, and $3 in
Other long-term
liabilities
as of December 31, 2007.
(3)
The fair value of the NZ$ operating forward purchase contracts
includes $5 in
Other current liabilities
and $1 in
Other long-term liabilities
as of December 31, 2008.
(4)
The fair value of the capital hedge program related to the
construction of the Boddington project includes $3 in
Other
current assets
for A$ bought call option and forward
purchase contracts and $42 in
Other current liabilities
for A$ forward purchase contracts as of December 31,
2008. The fair value of the capital hedge program included $1 in
Other current assets
for A$ bought call option contracts
and $1 in
Other current liabilities
for A$ forward
purchase contracts as of December 31, 2007.
84
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Expected Maturity Date
Fair Value
Total/
At December 31,
At December 31,
2009
Average
2008
2007
$
37
$
37
$
(15
)
(1)
$
2.49
2.49
(1)
The fair value of the diesel forward purchase contracts includes
$15 in
Other current liabilities
as of December 31,
2008.
85
Table of Contents
2008
2007
$
1,961
$
1,965
$
1,909
$
2,206
$
+/−8.4
$
+/−10.8
(1)
Excludes specialized and hybrid debt instruments for which it is
not practicable to estimate fair values and pro forma fair
values or sensitivities. These instruments include the
Sale-Leaseback of the Refractory Ore Treatment Plant, PTNNT
project financing facility, Yanacocha project financing and
certain capital leases. The estimated fair value quoted above
may or may not reflect the actual trading value of these
instruments.
(2)
The pro forma information assumes a +/−10 basis point
change in market interest rates as of December 31 of each year,
and reflects the corresponding estimated change in the fair
value of fixed rate debt outstanding at that date under that
assumption. Actual changes in the timing and amount of interest
rate variations may differ from the above assumptions.
86
Table of Contents
ITEM 8.
FINANCIAL
STATEMENTS AND SUPPLEMENTARY DATA
87
Table of Contents
88
Table of Contents
89
Table of Contents
Years Ended December 31,
2008
2007
2006
(in millions, except per share)
$
5,447
$
4,305
$
4,211
752
1,221
671
6,199
5,526
4,882
2,745
2,404
2,043
399
450
292
531
11
747
695
589
32
29
27
214
177
166
166
62
81
144
142
136
1,122
137
10
3
360
246
251
4,944
5,879
3,588
123
106
53
(102
)
(105
)
(97
)
21
1
(44
)
1,276
(352
)
1,250
(113
)
(200
)
(326
)
(329
)
(410
)
(363
)
(5
)
(1
)
2
829
(963
)
563
24
(923
)
228
$
853
$
(1,886
)
$
791
$
1.83
$
(2.13
)
$
1.25
0.05
(2.04
)
0.51
$
1.88
$
(4.17
)
$
1.76
$
1.82
$
(2.13
)
$
1.25
0.05
(2.04
)
0.50
$
1.87
$
(4.17
)
$
1.75
454
452
450
455
452
452
$
0.40
$
0.40
$
0.40
(1)
Exclusive of Loss on settlement of price-capped forward sales
contracts, Midas redevelopment, Amortization and Accretion.
(2)
Exclusive of Amortization and Accretion.
90
Table of Contents
At December 31,
2008
2007
(in millions)
$
435
$
1,231
12
61
104
177
223
168
519
463
324
373
286
112
458
87
2,361
2,672
10,132
9,140
655
1,531
1,145
788
1,145
1,027
213
230
188
186
24
$
15,839
$
15,598
LIABILITIES
$
169
$
255
412
339
178
153
58
88
779
665
1,596
1,500
3,373
2,683
716
623
1,051
1,025
379
226
252
150
394
7,367
6,601
1,370
1,449
709
696
6,639
6,696
(253
)
957
7
(801
)
7,102
7,548
$
15,839
$
15,598
91
Table of Contents
Accumulated
Additional
Retained
Other
Total
Common Stock
Paid-In
Earnings
Comprehensive
Stockholders
Shares
Amount
Capital
(Deficit)
Income (Loss)
Equity
(in millions)
448
$
666
$
6,578
$
754
$
378
$
8,376
791
791
322
322
(180
)
(180
)
(81
)
(81
)
(27
)
(27
)
3
5
131
136
6
(6
)
451
$
677
$
6,703
$
1,284
$
673
$
9,337
(1,886
)
(1,886
)
284
284
(90
)
(91
)
(181
)
(108
)
(108
)
2
4
88
92
15
(15
)
248
248
(238
)
(238
)
453
$
696
$
6,696
$
(801
)
$
957
$
7,548
853
853
(1,210
)
(1,210
)
(137
)
(45
)
(182
)
2
2
91
93
11
(11
)
455
$
709
$
6,639
$
7
$
(253
)
$
7,102
92
Table of Contents
Years Ended December 31,
2008
2007
2006
(in millions)
$
853
$
(1,886
)
$
791
(573
)
113
272
(387
)
138
(14
)
(139
)
18
12
9
15
5
(130
)
33
17
(125
)
2
(177
)
5
(2
)
224
(120
)
47
(1,210
)
284
322
$
(357
)
$
(1,602
)
$
1,113
93
Table of Contents
Years Ended December 31,
2008
2007
2006
(in millions)
$
853
$
(1,886
)
$
791
747
695
589
329
410
363
(300
)
(152
)
(127
)
114
46
137
10
3
(72
)
(16
)
(19
)
102
29
47
50
46
50
42
37
30
(24
)
923
(228
)
(9
)
(9
)
(46
)
1,122
(48
)
76
25
71
(642
)
(755
)
(347
)
1,403
525
1,129
(111
)
138
96
1,292
663
1,225
(1,875
)
(1,672
)
(1,537
)
50
224
2,216
(17
)
(258
)
(1,493
)
(325
)
(953
)
(348
)
161
16
31
20
(2,151
)
(2,467
)
(1,142
)
(6
)
1,354
338
(2,157
)
(1,113
)
(804
)
5,078
3,008
198
(4,487
)
(2,036
)
(111
)
(389
)
(270
)
(264
)
(182
)
(181
)
(180
)
29
51
78
(366
)
248
(48
)
74
11
(6
)
123
465
(333
)
(7
)
123
465
(340
)
(54
)
50
3
(796
)
65
84
1,231
1,166
1,082
$
435
$
1,231
$
1,166
94
Table of Contents
NOTE 1
THE
COMPANY
NOTE 2
SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES
95
Table of Contents
96
Table of Contents
97
Table of Contents
98
Table of Contents
99
Table of Contents
100
Table of Contents
101
Table of Contents
102
Table of Contents
103
Table of Contents
104
Table of Contents
Level 1
Unadjusted quoted prices in active markets that are accessible
at the measurement date for identical, unrestricted assets or
liabilities;
Level 2
Quoted prices in markets that are not active, or inputs that are
observable, either directly or indirectly, for substantially the
full term of the asset or liability;
Level 3
Prices or valuation techniques that require inputs that are both
significant to the fair value measurement and unobservable
(supported by little or no market activity).
Fair Value at December 31, 2008
Total
Level 1
Level 2
Level 3
$
14
$
14
$
$
621
621
27
27
$
662
$
635
$
$
27
$
5
$
5
$
$
140
140
92
92
$
237
$
5
$
232
$
105
Table of Contents
$
31
(7
)
3
$
27
106
Table of Contents
107
Table of Contents
108
Table of Contents
109
Table of Contents
NOTE 3
PRICE-CAPPED
FORWARD SALES CONTRACTS
NOTE 4
MIDAS
REDEVELOPMENT
110
Table of Contents
NOTE 5
ADVANCED
PROJECTS, RESEARCH AND DEVELOPMENT
Years Ended December 31,
2008
2007
2006
$
39
$
$
26
23
15
25
15
7
3
7
6
15
6
7
10
4
3
6
46
24
22
$
166
$
62
$
81
NOTE 6
OTHER EXPENSE,
NET
Years Ended December 31,
2008
2007
2006
$
102
$
29
$
47
65
58
55
48
38
38
18
11
1
18
10
22
15
3
13
17
11
11
13
10
8
3
9
1
3
12
22
48
48
50
$
360
$
246
$
251
111
Table of Contents
NOTE 7
OTHER INCOME,
NET
Years Ended December 31,
2008
2007
2006
$
110
$
47
$
30
32
30
29
50
67
12
3
19
10
16
19
10
4
(60
)
(12
)
25
5
(114
)
(46
)
(40
)
16
7
13
$
123
$
106
$
53
NOTE 8
INCOME
TAXES
Years Ended December 31,
2008
2007
2006
$
(62
)
$
121
$
(351
)
(473
)
(453
)
(413
)
(352
)
(453
)
235
(1
)
15
65
153
112
300
152
127
$
(113
)
$
(200
)
$
(326
)
Years Ended December 31,
2008
2007
2006
$
564
$
(155
)
$
188
712
(197
)
1,062
$
1,276
$
(352
)
$
1,250
112
Table of Contents
Years Ended December 31,
2008
2007
2006
$
1,276
$
(352
)
$
1,250
35
%
35
%
35
%
(447
)
123
(438
)
130
70
77
(31
)
17
3
(5
)
(10
)
(7
)
19
4
15
(20
)
(7
)
(70
)
69
(3
)
4
21
1
4
23
(393
)
27
159
48
(8
)
(5
)
(9
)
$
(113
)
$
(200
)
$
(326
)
113
Table of Contents
At December 31,
2008
2007
$
65
$
59
49
89
890
610
138
68
138
141
111
128
2
101
78
64
158
1,558
1,331
(513
)
(509
)
1,045
822
(22
)
(11
)
(44
)
(149
)
(602
)
(629
)
(5
)
(25
)
(26
)
(673
)
(840
)
$
372
$
(18
)
At December 31,
2008
2007
$
286
$
112
1,145
1,027
(8
)
(132
)
(1,051
)
(1,025
)
$
372
$
(18
)
At December 31, 2007
$
1
$
1
114
Table of Contents
2008
2007
$
230
$
267
29
18
50
14
(57
)
(9
)
(71
)
(14
)
(30
)
(16
)
$
181
$
230
115
Table of Contents
116
Table of Contents
At December 31,
2008
2007
$
1,092
$
678
(720
)
(696
)
$
372
$
(18
)
At December 31,
2008
2007
$
23
$
124
35
343
$
58
$
467
NOTE 9
MINORITY INTEREST
IN INCOME OF CONSOLIDATED SUBSIDIARIES
Years Ended December 31,
2008
2007
2006
$
232
$
108
$
256
98
299
103
(1
)
3
4
$
329
$
410
$
363
117
Table of Contents
NOTE 10
EQUITY (LOSS)
INCOME OF AFFILIATES
Years Ended December 31,
2008
2007
2006
$
(2
)
$
1
$
1
(3
)
(8
)
(2
)
6
3
$
(5
)
$
(1
)
$
2
NOTE 11
DISCONTINUED
OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE
118
Table of Contents
Years Ended December 31,
2008
2007
2006
$
$
119
$
157
$
6
$
123
$
67
8
12
6
6
131
85
1
8
77
13
1
85
13
905
266
30
(1,665
)
(101
)
7
(544
)
293
17
(379
)
(65
)
$
24
$
(923
)
$
228
119
Table of Contents
At December 31,
2007
$
20
3
1
$
24
$
378
16
$
394
Years Ended December 31,
2008
2007
2006
$
24
$
(923
)
$
228
46
51
55
37
(990
)
(309
)
(46
)
(13
)
1,665
18
96
(135
)
313
6
$
(111
)
$
138
$
96
$
(6
)
$
1,274
$
353
90
8
(6
)
(20
)
(2
)
(10
)
(2
)
7
$
(6
)
$
1,354
$
338
$
$
$
(7
)
120
Table of Contents
NOTE 12
STOCKHOLDERS
EQUITY AND INCOME (LOSS) PER SHARE
121
Table of Contents
Years Ended December 31,
2008
2007
2006
$
829
$
(963
)
$
563
24
(923
)
228
$
853
$
(1,886
)
$
791
454
452
450
1
2
455
452
452
$
1.83
$
(2.13
)
$
1.25
0.05
(2.04
)
0.51
$
1.88
$
(4.17
)
$
1.76
$
1.82
$
(2.13
)
$
1.25
0.05
(2.04
)
0.50
$
1.87
$
(4.17
)
$
1.75
122
Table of Contents
NOTE 13
ACQUISITIONS
$
38
1,880
40
94
35
2,087
53
681
734
$
1,353
123
Table of Contents
NOTE 14
DERIVATIVE
INSTRUMENTS
124
Table of Contents
Expected Maturity Date
Fair Value
Total/
At December 31,
2009
2010
2011
Average
2008
2007
$
35
$
$
$
35
$
(4
)
(1)
$
(1
)
(1)
10,238
10,238
$
376
$
282
$
85
$
743
$
(85
)
(2)
$
(2)
0.79
0.78
0.74
0.78
$
37
$
12
$
$
49
$
(6
)
(3)
$
(3)
0.67
0.62
0.66
$
325
$
$
$
325
$
(40
)
(4)
$
(1
)
(4)
0.80
0.80
$
28
$
$
$
28
$
1
(4)
$
1
(4)
0.70
0.70
(1)
The fair value of the IDR operating forward purchase contracts
includes $4 and $1 in
Other current liabilities
as of
December 31, 2008 and December 31, 2007, respectively.
(2)
The fair value of the A$ operating forward purchase contracts
includes $1 in
Other current assets,
$1 in
Other
long-term assets
, $45 in
Other current liabilities
,
and $42 in
Other long-term liabilities
as of
December 31, 2008. The fair value of the A$ operating
forward purchase contracts included $2 in
Other current
assets,
$2 in
Other long-term assets
, $1 in
Other
current liabilities
, and $3 in
Other long-term
liabilities
as of December 31, 2007.
(3)
The fair value of the NZ$ operating forward purchase contracts
includes $5 in
Other current liabilities
and $1 in
Other long-term liabilities
as of December 31, 2008.
(4)
The fair value of the capital hedge program related to the
construction of the Boddington project includes $3 in
Other
current assets
for A$ bought call option and forward
purchase contracts and $42 in
Other current liabilities
for A$ forward purchase contracts as of December 31,
2008. The fair value of the capital hedge program included $1 in
Other current assets
for A$ bought call option contracts
and $1 in
Other current liabilities
for A$ forward
purchase contracts as of December 31, 2007.
125
Table of Contents
Expected Maturity Date
Fair Value
Total/
At December 31,
At December 31,
2009
Average
2008
2007
$
37
$
37
$
(15
)
(1)
$
2.49
2.49
(1)
The fair value of the diesel forward purchase contracts includes
$15 in
Other current liabilities
as of December 31,
2008.
126
Table of Contents
NOTE 15
INVESTMENTS
At December 31, 2008
Cost/Equity
Unrealized
Fair/Equity
Basis
Gain
Loss
Basis
$
14
$
1
$
(3
)
$
12
$
7
$
$
(2
)
$
5
25
(3
)
22
32
(5
)
27
251
283
534
64
64
6
6
8
(3
)
5
329
283
(3
)
609
7
7
12
12
$
380
$
283
$
(8
)
$
655
127
Table of Contents
At December 31, 2007
Cost/Equity
Unrealized
Fair/Equity
Basis
Gain
Loss
Basis
$
19
$
39
$
$
58
3
3
$
22
$
39
$
$
61
$
7
$
$
(2
)
$
5
31
31
38
(2
)
36
316
907
1,223
94
94
80
80
37
15
(7
)
45
527
922
(7
)
1,442
4
4
29
29
17
17
3
3
49
49
$
618
$
922
$
(9
)
$
1,531
Table of Contents
Less Than 12 Months
12 Months or Greater
Total
Unrealized
Unrealized
Unrealized
Fair Value
Losses
Fair Value
Losses
Fair Value
Losses
$
6
$
6
$
$
$
6
$
6
22
3
5
2
27
5
$
28
$
9
$
5
$
2
$
33
$
11
Less Than 12 Months
12 Months or Greater
Total
Unrealized
Unrealized
Unrealized
Fair Value
Losses
Fair Value
Losses
Fair Value
Losses
$
16
$
7
$
$
$
16
$
7
5
2
5
2
$
21
$
9
$
$
$
21
$
9
NOTE 16
INVENTORIES
At December 31,
2008
2007
$
53
$
64
54
69
24
27
388
303
$
519
$
463
129
Table of Contents
NOTE 17
STOCKPILES AND
ORE ON LEACH PADS
At December 31,
2008
2007
$
120
$
204
204
169
$
324
$
373
$
873
$
528
272
260
$
1,145
$
788
NOTE 18
OTHER
ASSETS
At December 31,
2008
2007
$
187
$
10
168
43
37
9
13
51
27
$
458
$
87
$
35
$
40
33
93
26
19
19
20
17
21
13
6
8
6
62
25
$
213
$
230
130
Table of Contents
NOTE 19
PROPERTY, PLANT
AND MINE DEVELOPMENT
Depreciable
At December 31, 2008
At December 31, 2007
Life
Accumulated
Net Book
Accumulated
Net Book
(In Years)
Cost
Amortization
Value
Cost
Amortization
Value
$
105
$
$
105
$
88
$
$
88
1 - 25
9,158
(4,411
)
4,747
7,786
(4,110
)
3,676
1 - 25
2,063
(933
)
1,130
1,951
(896
)
1,055
1 - 25
2,767
(563
)
2,204
2,830
(509
)
2,321
1 - 25
384
(191
)
193
335
(165
)
170
1,753
1,753
1,830
1,830
$
16,230
$
(6,098
)
$
10,132
$
14,820
$
(5,680
)
$
9,140
2 - 18
$
425
$
(268
)
$
157
$
378
$
(228
)
$
150
At December 31, 2008
At December 31, 2007
Amortization
Gross
Gross
Period
Carrying
Accumulated
Net Book
Carrying
Accumulated
Net Book
(in years)
Value
Amortization
Value
Value
Amortization
Value
1 - 25
$
804
$
(556
)
$
248
$
766
$
(502
)
$
264
372
372
386
386
1,591
(7
)
1,584
1,678
(7
)
1,671
$
2,767
$
(563
)
$
2,204
$
2,830
$
(509
)
$
2,321
131
Table of Contents
NOTE 20
GOODWILL
Australia/
New Zealand
Exploration
Consolidated
$
186
$
1,129
$
1,315
23
23
209
1,129
1,338
(23
)
(23
)
(7
)
(7
)
(1,122
)
(1,122
)
186
186
2
2
$
188
$
$
188
132
Table of Contents
NOTE 21
DEBT
At December 31,
2008
2007
Current
Non-Current
Current
Non-Current
$
24
$
188
$
22
$
212
214
218
757
575
575
575
575
597
597
119
87
219
87
306
18
14
62
14
76
100
100
9
66
17
20
13
24
$
169
$
3,373
$
255
$
2,683
133
Table of Contents
134
Table of Contents
135
Table of Contents
136
Table of Contents
At December 31,
2008
2007
$
87
$
79
35
25
6
5
5
6
4
3
41
35
$
178
$
153
At December 31,
2008
2007
$
235
$
107
85
66
39
33
10
9
10
11
$
379
$
226
137
Table of Contents
138
Table of Contents
Pension Benefits
Other Benefits
2008
2007
2008
2007
$
447
$
448
$
68
$
79
15
18
2
3
29
27
5
5
74
(18
)
17
(17
)
(8
)
(1
)
(21
)
(31
)
(18
)
(15
)
(3
)
(3
)
19
1
$
518
$
447
$
89
$
68
$
421
$
383
N/A
N/A
$
341
$
260
$
$
(94
)
12
73
98
3
3
(3
)
(21
)
(31
)
(18
)
(15
)
(3
)
(3
)
17
$
278
$
341
$
$
139
Table of Contents
2008
2007
Market Value of
Funded
Market Value of
Funded
PBO
Plan Assets
Status
PBO
Plan Assets
Status
$
395
$
232
$
(163
)
$
309
$
278
$
(31
)
30
(30
)
41
(41
)
44
36
(8
)
38
45
7
19
(19
)
23
(23
)
30
10
(20
)
36
18
(18
)
$
518
$
278
$
(240
)
$
447
$
341
$
(106
)
Pension Benefits
Other Benefits
2008
2007
2008
2007
$
$
7
$
$
$
240
$
113
$
89
$
68
$
261
$
81
$
(9
)
$
(28
)
9
10
(6
)
(7
)
270
91
(15
)
(35
)
(94
)
(32
)
5
12
$
176
$
59
$
(10
)
$
(23
)
Pension Benefit Costs
Other Benefit Costs
2008
2007
2006
2008
2007
2006
$
15
$
18
$
18
$
2
$
3
$
3
29
27
24
5
5
4
(28
)
(22
)
(18
)
3
6
8
(2
)
1
1
1
(1
)
(1
)
(1
)
9
(2
)
13
17
$
33
$
47
$
42
$
4
$
7
$
4
140
Table of Contents
Pension Benefits
Other Benefits
2008
2007
2006
2008
2007
2006
$
196
$
(9
)
$
(7
)
$
17
$
(19
)
$
(11
)
(16
)
(23
)
(8
)
2
(1
)
(1
)
(1
)
1
1
1
$
179
$
(33
)
$
(16
)
$
20
$
(18
)
$
(10
)
$
212
$
14
$
26
$
24
$
(11
)
$
(6
)
Pension
Other
Benefits
Benefits
$
8
$
(2
)
1
(1
)
$
9
$
(3
)
Pension Benefits
Other Benefits
As of December 31,
As of December 31,
2008
2007
2008
2007
6.05
%
6.8
%
6.05
%
6.8
%
5.0
%
5.0
%
5.0
%
5.0
%
Pension Benefits
Other Benefits
Years Ended December 31,
Years Ended December 31,
2008
2007
2006
2008
2007
2006
6.8
%
5.9
%
5.75
%
6.8
%
5.9
%
5.75
%
8.0
%
8.0
%
8.0
%
N/A
N/A
N/A
5.0
%
4.0
%
4.0
%
5.0
%
4.0
%
4.0
%
141
Table of Contents
Actual at
December 31,
Target
2008
45
%
37
%
20
%
14
%
35
%
41
%
%
8
%
One-Percentage-Point
One-Percentage-Point
Increase
Decrease
$
1
$
(1
)
$
13
$
(10
)
142
Table of Contents
Pension
Other Benefit
Benefits
Plans
$
25
$
4
21
4
21
4
24
4
28
5
175
29
$
294
$
50
NOTE 23
STOCK BASED
COMPENSATION
143
Table of Contents
2008
2007
2006
2005
2004
3.1
%
4.6
%
4.9
%
4.2
%
3.4
%
1.0
%
1.0
%
0.7
%
1.0
%
0.8
%
5
5
5
4
4
30
%
32
%
34
%
38
%
41
%
2008
2007
2006
Weighted
Weighted
Weighted
Average
Average
Average
Number of
Exercise
Number of
Exercise
Number of
Exercise
Shares
Price
Shares
Price
Shares
Price
6,234,814
$
41.09
7,503,608
$
39.08
9,433,669
$
35.90
1,416,963
$
40.77
1,066,500
$
42.06
1,238,750
$
57.71
(931,741
)
$
30.88
(1,706,303
)
$
29.93
(2,397,816
)
$
31.50
(257,032
)
$
49.17
(628,991
)
$
46.30
(770,995
)
$
53.23
6,463,004
$
42.17
6,234,814
$
41.09
7,503,608
$
39.08
4,464,475
$
42.01
4,687,127
$
39.15
5,333,035
$
34.60
$
11.96
$
13.36
$
19.76
Options Outstanding
Options Exercisable
Weighted
Average
Remaining
Weighted
Weighted
Contractual
Average
Average
Number
Life
Exercise
Number
Exercise
Outstanding
(in Years)
Price
Exercisable
Price
110,762
0.8
$
18.37
110,762
$
18.37
1,177,114
5.0
$
26.15
877,114
$
25.89
426,666
6.3
$
38.05
429,962
$
38.05
3,849,462
7.3
$
44.59
2,340,630
$
45.15
899,000
7.3
$
57.71
706,007
$
57.71
6,463,004
5.3
$
42.17
4,464,475
$
42.01
144
Table of Contents
2008
2007
2006
835,982
1,484,732
2,020,049
$
47.21
$
47.05
$
40.80
Year Ended December 31,
2008
2007
2006
$
16
$
17
$
29
6
4
1
12
9
8
$
34
$
31
$
37
145
Table of Contents
NOTE 24
OTHER
LIABILITIES
At December 31,
2008
2007
$
168
$
158
147
111
3
107
172
64
71
39
23
35
40
28
34
18
5
8
132
43
38
$
779
$
665
At December 31,
2008
2007
$
167
$
113
43
3
42
34
$
252
$
150
NOTE 25
RECLAMATION AND
REMEDIATION LIABILITIES (ASSET RETIREMENT OBLIGATIONS)
146
Table of Contents
$
598
95
(54
)
18
37
694
148
(104
)
42
$
780
Years Ended December 31,
2008
2007
2006
$
26
$
28
$
23
32
29
27
10
8
3
102
29
47
$
170
$
94
$
100
147
Table of Contents
NOTE 26
ACCUMULATED OTHER
COMPREHENSIVE (LOSS) INCOME
At December 31,
2008
2007
$
218
$
791
(206
)
181
(176
)
(59
)
10
23
(99
)
21
$
(253
)
$
957
NOTE 27
RELATED PARTY
TRANSACTIONS
Years Ended December 31,
2008
2007
2006
$
10
$
9
$
$
$
135
$
66
$
3
$
2
$
1
$
$
2
$
3
148
Table of Contents
NOTE 28
NET CHANGE IN
OPERATING ASSETS AND LIABILITIES
Years Ended December 31,
2008
2007
2006
$
80
$
17
$
(110
)
(354
)
(95
)
(382
)
38
(209
)
6
(25
)
(55
)
(629
)
230
(38
)
(104
)
(54
)
(60
)
$
(642
)
$
(755
)
$
(347
)
NOTE 29
SUPPLEMENTAL CASH
FLOW INFORMATION
Years Ended December 31,
2008
2007
2006
$
785
$
324
$
403
$
97
$
88
$
96
149
Table of Contents
NOTE 30
OPERATING LEASE
COMMITMENTS
NOTE 31
SEGMENT AND
RELATED INFORMATION
Accretion, which was previously reported in
Costs applicable
to sales
has been reclassified to a separate
Accretion
line item.
Regional administrative and community development, which were
previously reported in
Costs applicable to sales
have
been reclassified to
Other expense, net
for all periods
presented.
Marketing, which was reported in
Costs applicable to sales
has been reclassified to
General and administrative
.
Write-down of investments, which was reported in Costs and
expenses has been reclassified to
Other income, net
.
The Other Operations reportable segment includes the
La Herradura, Kori Kollo and Golden Giant operations.
150
Table of Contents
Australia/
Other
Nevada
Yanacocha
New Zealand
Batu Hijau
Africa
Operations
$
1,929
$
1,613
$
1,050
$
261
$
435
$
158
$
$
$
$
752
$
$
$
1,022
$
637
$
655
$
124
$
205
$
102
$
$
$
$
399
$
$
$
246
$
170
$
122
$
25
$
63
$
18
$
$
$
$
80
$
$
$
$
$
3
$
$
$
$
6
$
10
$
5
$
8
$
1
$
2
$
$
$
$
$
$
$
12
$
6
$
9
$
2
$
12
$
4
$
4
$
$
2
$
10
$
$
$
45
$
76
$
83
$
44
$
17
$
18
$
7
$
11
$
51
$
5
$
14
$
2
$
$
8
$
$
23
$
$
1
$
600
$
717
$
219
$
301
$
151
$
14
$
$
$
(5
)
$
$
$
$
337
$
239
$
962
$
84
$
117
$
33
Table of Contents
Total
Corporate
Operations
Hope Bay
Exploration
and Other
Consolidated
$
5,446
$
$
$
1
$
5,447
$
752
$
$
$
$
752
$
2,745
$
$
$
$
2,745
$
399
$
$
$
$
399
$
644
$
$
$
$
644
$
80
$
$
$
$
80
$
3
$
1
$
1
$
18
$
23
$
32
$
$
$
$
32
$
$
$
214
$
$
214
$
45
$
39
$
3
$
79
$
166
$
16
$
$
$
121
$
137
$
283
$
$
$
77
$
360
$
90
$
1
$
32
$
$
123
$
32
$
$
$
70
$
102
$
2,002
$
(39
)
$
(186
)
$
(501
)
$
1,276
$
(5
)
$
$
$
$
(5
)
$
1,772
$
82
$
$
21
$
1,875
Table of Contents
Australia/
Other
Nevada
Yanacocha
New Zealand
Batu Hijau
Africa
Operations
$
1,616
$
1,093
$
809
$
351
$
306
$
129
$
$
$
$
1,221
$
$
$
1,021
$
490
$
552
$
114
$
168
$
59
$
$
$
$
450
$
$
$
$
$
$
$
$
$
11
$
$
$
$
$
$
220
$
160
$
109
$
25
$
43
$
17
$
$
$
$
96
$
$
$
$
$
3
$
$
$
$
5
$
9
$
6
$
6
$
1
$
2
$
$
$
$
$
$
$
7
$
9
$
6
$
$
15
$
$
$
$
$
$
$
$
$
$
2
$
8
$
$
$
37
$
74
$
39
$
23
$
10
$
(9
)
$
10
$
16
$
(8
)
$
17
$
4
$
7
$
$
3
$
$
37
$
1
$
1
$
325
$
363
$
81
$
829
$
73
$
65
$
$
$
(7
)
$
$
$
$
588
$
253
$
599
$
74
$
134
$
13
Table of Contents
Total
Corporate
Operations
Exploration
and Other
Consolidated
$
4,304
$
$
1
$
4,305
$
1,221
$
$
$
1,221
$
2,404
$
$
$
2,404
$
450
$
$
$
450
$
$
$
531
$
531
$
11
$
$
$
11
$
574
$
$
$
574
$
96
$
$
$
96
$
3
$
1
$
21
$
25
$
29
$
$
$
29
$
$
177
$
$
177
$
37
$
$
25
$
62
$
$
1,122
$
$
1,122
$
10
$
$
$
10
$
174
$
$
72
$
246
$
46
$
2
$
58
$
106
$
42
$
$
63
$
105
$
1,736
$
(1,300
)
$
(788
)
$
(352
)
$
(7
)
$
$
6
$
(1
)
$
1,661
$
$
11
$
1,672
Table of Contents
Australia/
Other
Nevada
Yanacocha
New Zealand
Batu Hijau
Africa
Operations
$
1,441
$
1,543
$
709
$
264
$
124
$
160
$
$
$
$
671
$
$
$
960
$
450
$
438
$
86
$
52
$
57
$
$
$
$
292
$
$
$
180
$
172
$
91
$
20
$
19
$
18
$
$
$
$
66
$
$
$
$
$
3
$
$
$
1
$
6
$
7
$
6
$
5
$
$
3
$
$
$
$
$
$
$
10
$
6
$
2
$
2
$
28
$
1
$
$
1
$
$
1
$
$
$
36
$
105
$
36
$
18
$
8
$
(18
)
$
22
$
19
$
7
$
(45
)
$
1
$
7
$
$
12
$
$
44
$
(1
)
$
1
$
270
$
808
$
135
$
357
$
19
$
105
$
$
$
(1
)
$
$
$
$
705
$
269
$
192
$
106
$
234
$
11
Table of Contents
Total
Corporate
Operations
Exploration
and Other
Consolidated
$
4,241
$
$
(30
)
$
4,211
$
671
$
$
$
671
$
2,043
$
$
$
2,043
$
292
$
$
$
292
$
500
$
$
$
500
$
66
$
$
$
66
$
4
$
3
$
16
$
23
$
27
$
$
$
27
$
$
166
$
$
166
$
49
$
$
32
$
81
$
2
$
$
1
$
3
$
185
$
1
$
65
$
251
$
11
$
6
$
36
$
53
$
56
$
$
41
$
97
$
1,694
$
(164
)
$
(280
)
$
1,250
$
(1
)
$
$
3
$
2
$
1,517
$
$
20
$
1,537
At December 31,
2008
2007
$
188
$
186
$
3,215
$
3,104
1,902
1,908
2,633
1,876
2,371
2,471
1,181
1,082
1,621
1,566
166
157
37
24
2,713
3,386
15,839
15,574
24
$
15,839
$
15,598
Table of Contents
Years Ended December 31,
2008
2007
2006
$
4,831
$
3,837
$
4,053
464
562
355
307
512
85
231
248
154
170
165
79
32
101
76
164
101
80
$
6,199
$
5,526
$
4,882
At December 31,
2008
2007
$
3,034
$
2,932
2,371
1,555
1,980
1,744
1,671
1,639
1,461
1,357
1,051
974
77
74
$
11,645
$
10,275
157
Table of Contents
NOTE 32
CONSOLIDATING
FINANCIAL STATEMENTS
For the Year Ended December 31, 2008
Newmont
Newmont
Mining
Condensed Consolidating
Mining
Newmont
Other
Corporation
Corporation
USA
Subsidiaries
Eliminations
Consolidated
$
$
3,961
$
1,486
$
$
5,447
752
752
4,713
1,486
6,199
1,887
879
(21
)
2,745
399
399
558
190
(1
)
747
25
7
32
132
82
214
63
107
(4
)
166
113
6
25
144
15
122
137
1
246
112
1
360
1
3,438
1,505
4,944
(40
)
112
51
123
278
24
(302
)
(8
)
(294
)
302
(41
)
(56
)
(5
)
(102
)
189
80
(248
)
21
188
1,355
(267
)
1,276
(66
)
(105
)
58
(113
)
(347
)
10
8
(329
)
707
4
102
(818
)
(5
)
829
907
(97
)
(810
)
829
24
5
3
(8
)
24
$
853
$
912
$
(94
)
$
(818
)
$
853
158
Table of Contents
For the Year Ended December 31, 2007
Newmont
Newmont
Mining
Condensed Consolidating
Mining
Newmont
Other
Corporation
Corporation
USA
Subsidiaries
Eliminations
Consolidated
$
$
3,181
$
1,124
$
$
4,305
1,221
1,221
4,402
1,124
5,526
1,683
739
(18
)
2,404
450
450
531
531
11
11
541
155
(1
)
695
22
7
29
113
64
177
34
30
(2
)
62
117
4
21
142
1,122
1,122
8
2
10
203
43
246
3,713
2,166
5,879
35
104
(33
)
106
210
52
(262
)
(7
)
(255
)
262
(49
)
(44
)
(12
)
(105
)
189
112
(300
)
1
189
801
(1,342
)
(352
)
(56
)
38
(182
)
(200
)
(451
)
321
(280
)
(410
)
(1,096
)
4
(236
)
1,327
(1
)
(963
)
392
(1,439
)
1,047
(963
)
(923
)
(124
)
(760
)
884
(923
)
$
(1,886
)
$
268
$
(2,199
)
$
1,931
$
(1,886
)
Table of Contents
For the Year Ended December 31, 2006
Newmont
Newmont
Mining
Condensed Consolidating
Mining
Newmont
Other
Corporation
Corporation
USA
Subsidiaries
Eliminations
Consolidated
$
$
3,342
$
869
$
$
4,211
671
671
4,013
869
4,882
1,542
511
(10
)
2,043
292
292
475
114
589
19
8
27
120
46
166
44
36
1
81
125
3
8
136
3
3
37
184
30
251
37
2,804
748
(1
)
3,588
13
6
34
53
121
79
(200
)
(7
)
(193
)
200
(27
)
(62
)
(8
)
(97
)
100
23
(167
)
(44
)
63
1,232
(46
)
1
1,250
(54
)
(303
)
31
(326
)
(364
)
(17
)
18
(363
)
554
119
(671
)
2
563
565
87
(652
)
563
228
(65
)
208
(143
)
228
$
791
$
500
$
295
$
(795
)
$
791
Table of Contents
At December 31, 2008
Newmont
Newmont
Mining
Mining
Newmont
Other
Corporation
Corporation
USA
Subsidiaries
Eliminations
Consolidated
$
$
310
$
125
$
$
435
1
11
12
97
7
104
1,941
913
370
(3,001
)
223
407
112
519
276
48
324
238
48
286
1
223
234
458
1,942
2,465
955
(3,001
)
2,361
5,329
4,822
(19
)
10,132
11
644
655
6,247
25
828
(7,100
)
1,040
105
1,145
61
873
211
1,145
1,983
320
153
(2,243
)
213
188
188
$
10,233
$
10,063
$
7,906
$
(12,363
)
$
15,839
$
$
160
$
9
$
$
169
524
587
2,292
(2,991
)
412
147
31
178
21
36
1
58
15
312
461
(9
)
779
560
1,242
2,794
(3,000
)
1,596
2,504
802
67
3,373
1
519
196
716
364
687
1,051
3
341
35
379
283
182
2,049
(2,262
)
252
3,351
3,450
5,828
(5,262
)
7,367
1,432
202
(264
)
1,370
61
(61
)
709
709
6,419
2,647
4,334
(6,761
)
6,639
(253
)
(173
)
(138
)
311
(253
)
7
2,707
(2,381
)
(326
)
7
6,882
5,181
1,876
(6,837
)
7,102
$
10,233
$
10,063
$
7,906
$
(12,363
)
$
15,839
Table of Contents
At December 31, 2007
Newmont
Newmont
Mining
Mining
Newmont
Other
Corporation
Corporation
USA
Subsidiaries
Eliminations
Consolidated
$
$
790
$
441
$
$
1,231
3
58
61
174
3
177
1,407
1,730
405
(3,374
)
168
378
85
463
330
43
373
89
23
112
1
51
35
87
1,408
3,545
1,093
(3,374
)
2,672
5,189
3,971
(20
)
9,140
11
1,520
1,531
4,299
22
772
(5,093
)
718
70
788
119
680
228
1,027
4,037
325
131
(4,263
)
230
186
186
2
22
24
$
9,863
$
10,492
$
7,993
$
(12,750
)
$
15,598
$
$
135
$
120
$
$
255
456
1,795
1,459
(3,371
)
339
111
42
153
66
(49
)
71
88
20
302
349
(6
)
665
542
2,294
2,041
(3,377
)
1,500
1,747
935
1
2,683
456
167
623
66
357
602
1,025
2
193
31
226
263
113
4,058
(4,284
)
150
41
262
91
394
2,661
4,610
6,991
(7,661
)
6,601
1,467
273
(291
)
1,449
61
(61
)
696
696
6,350
2,647
2,434
(4,735
)
6,696
957
(28
)
517
(489
)
957
(801
)
1,796
(2,283
)
487
(801
)
7,202
4,415
729
(4,798
)
7,548
$
9,863
$
10,492
$
7,993
$
(12,750
)
$
15,598
Table of Contents
For the Year Ended December 31, 2008
Newmont
Newmont
Mining
Condensed Consolidating
Mining
Newmont
Other
Corporation
Corporation
USA
Subsidiaries
Eliminations
Consolidated
$
853
$
912
$
(94
)
$
(818
)
$
853
27
787
(440
)
818
1,192
17
(590
)
(69
)
(642
)
897
1,109
(603
)
1,403
(130
)
19
(111
)
897
979
(584
)
1,292
(712
)
(1,163
)
(1,875
)
50
50
(17
)
(17
)
(7
)
(318
)
(325
)
17
(1
)
16
(702
)
(1,449
)
(2,151
)
(10
)
4
(6
)
(712
)
(1,445
)
(2,157
)
757
(120
)
(46
)
591
(1,518
)
(287
)
1,805
(385
)
(4
)
(389
)
(182
)
(182
)
29
29
17
48
9
74
(897
)
(744
)
1,764
123
(3
)
(51
)
(54
)
(480
)
(316
)
(796
)
790
441
1,231
$
$
310
$
125
$
$
435
Table of Contents
For the Year Ended December 31, 2007
Newmont
Newmont
Mining
Condensed Consolidating
Mining
Newmont
Other
Corporation
Corporation
USA
Subsidiaries
Eliminations
Consolidated
$
(1,886
)
$
268
$
(2,199
)
$
1,931
$
(1,886
)
871
1,138
3,088
(1,931
)
3,166
66
(549
)
(272
)
(755
)
(949
)
857
617
525
27
111
138
(949
)
884
728
663
(940
)
(732
)
(1,672
)
224
224
(222
)
(36
)
(258
)
(953
)
(953
)
161
161
24
7
31
(753
)
(1,714
)
(2,467
)
1
122
1,231
1,354
1
(631
)
(483
)
(1,113
)
1,125
(148
)
(5
)
972
71
(91
)
20
(270
)
(270
)
(181
)
(181
)
51
51
(366
)
(366
)
248
248
6
5
11
948
(503
)
20
465
50
50
(250
)
315
65
1,040
126
1,166
$
$
790
$
441
$
$
1,231
164
Table of Contents
For the Year Ended December 31, 2006
Newmont
Newmont
Mining
Condensed Consolidating
Mining
Newmont
Other
Corporation
Corporation
USA
Subsidiaries
Eliminations
Consolidated
$
791
$
500
$
295
$
(795
)
$
791
(826
)
892
(176
)
795
685
64
(354
)
(57
)
(347
)
29
1,038
62
1,129
(12
)
108
96
29
1,026
170
1,225
(1,116
)
(421
)
(1,537
)
2,216
2,216
(1,442
)
(51
)
(1,493
)
(348
)
(348
)
12
8
20
(330
)
(812
)
(1,142
)
48
3
287
338
48
(327
)
(525
)
(804
)
89
(2
)
87
6
(400
)
394
(264
)
(264
)
(168
)
(12
)
(180
)
78
78
(48
)
(48
)
6
(12
)
(6
)
(78
)
(635
)
380
(333
)
(7
)
(7
)
(78
)
(642
)
380
(340
)
4
(1
)
3
(1
)
61
24
84
1
979
102
1,082
$
$
1,040
$
126
$
$
1,166
165
Table of Contents
NOTE 33
COMMITMENTS AND
CONTINGENCIES
166
Table of Contents
167
Table of Contents
168
Table of Contents
169
Table of Contents
170
Table of Contents
171
Table of Contents
172
Table of Contents
173
Table of Contents
NOTE 34
UNAUDITED
SUPPLEMENTARY DATA
2008
Three Months Ended
March 31
June 30
September 30
December 31
$
1,943
$
1,522
$
1,392
$
1,342
$
962
$
571
$
384
$
359
$
364
$
279
$
177
$
9
$
6
$
(2
)
$
19
$
1
$
370
$
277
$
196
$
10
$
0.81
$
0.61
$
0.39
$
0.02
$
0.01
$
$
0.04
$
$
0.82
$
0.61
$
0.43
$
0.02
$
0.80
$
0.61
$
0.39
$
0.02
$
0.01
$
$
0.04
$
$
0.81
$
0.61
$
0.43
$
0.02
453
454
454
454
457
456
455
455
$
0.10
$
0.10
$
0.10
$
0.10
$
45.30
$
52.16
$
38.76
$
40.70
2007
Three Months Ended
March 31
June 30
September 30
December 31
$
1,224
$
1,276
$
1,616
$
1,410
$
285
$
(163
)
$
739
$
545
$
40
$
(401
)
$
331
$
(933
)
$
28
$
(1,661
)
$
66
$
644
$
68
$
(2,062
)
$
397
$
(289
)
$
0.09
$
(0.89
)
$
0.73
$
(2.06
)
$
0.06
$
(3.68
)
$
0.15
$
1.43
$
0.15
$
(4.57
)
$
0.88
$
(0.63
)
$
0.09
$
(0.89
)
$
0.73
$
(2.06
)
$
0.06
$
(3.68
)
$
0.15
$
1.43
$
0.15
$
(4.57
)
$
0.88
$
(0.63
)
451
451
452
452
452
451
453
452
$
0.10
$
0.10
$
0.10
$
0.10
$
41.99
$
39.06
$
44.73
$
48.83
(1)
Revenues less
Costs applicable to sales, Loss on settlement
of price-capped forward sales contracts
,
Midas
redevelopment, Amortization
and
Accretion
.
174
Table of Contents
NOTE 35
SUBSEQUENT
EVENTS
175
Table of Contents
Total Capitalization as of
December 31, 2008
Pro-Forma
Pro-Forma
Actual
Adjustments
Balance
$
447
$
1,737
$
2,184
$
$
444
$
444
575
(127
)
448
575
(174
)
401
2,392
2,392
$
3,542
$
143
$
3,685
$
709
$
55
$
764
6,639
1,444
8,083
(253
)
(253
)
7
(30
)
(23
)
$
7,102
$
1,469
$
8,571
$
10,644
$
1,612
$
12,256
176
Table of Contents
ITEM 9.
CHANGES
IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
ITEM 9A.
CONTROLS
AND PROCEDURES
177
Table of Contents
ITEM 10.
DIRECTORS
AND EXECUTIVE OFFICERS OF THE REGISTRANT
ITEM 11.
EXECUTIVE
COMPENSATION
ITEM 12.
SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED STOCKHOLDER MATTERS
Number of Securities
Remaining Available for
Future Issuance under
Number of Securities to be
Weighted-Average
Equity Compensation
Issued Upon Exercise of
Exercise Price of
Plans (Excluding
Outstanding Options,
Outstanding Options,
Securities Reflected in
Warrants and Rights
Warrants and Rights
Column (a))
(a)
(b)
(1)
(c)
6,614,823
(3
)
$
43.88
13,514,010
(4)
547,275
(5
)
$
24.00
7,162,098
$
38.03
13,514,010
(1)
The weighted average exercise price does not take into account
the shares issuable upon vesting of director stock units and
restricted stock units.
(2)
Newmonts 2005 Stock Incentive Plan was approved by the
stockholders on April 27, 2005. A maximum of
20,000,000 shares of Newmonts Common Stock were
authorized to be issued under this plan. Out of this maximum
number of shares, no more than 10,000,000 shares may be
awarded as restricted stock and other stock based awards and no
more than 1,000,000 shares may be awarded as non-employee
director stock awards. In addition, no more than
1,000,000 shares may be awarded without agreements
providing for vesting in full in three years or more, subject to
certain exceptions such as shares subject to performance-based
conditions.
(3)
This number does not include 8,526 shares of common stock
issuable upon exercise of outstanding options granted under
certain equity plans assumed by Newmont in acquisitions. The
weighted average exercise price of outstanding options granted
under the assumed plans as of
178
Table of Contents
December 31, 2008 was $20.12. Newmont cannot grant any
additional options or awards under these assumed plans.
(4)
Securities remaining available for future issuance under the
2005 Stock Incentive Plan. No additional grants or awards will
be made under any of the Companys other plans.
(5)
Shares of common stock issuable upon exercise of outstanding
options granted under the 1999 Employees Stock Plan. Options
have a term of 10 years and vest in periods ranging from
two to four years.
ITEM 13.
CERTAIN
RELATIONSHIPS AND RELATED TRANSACTIONS
ITEM 14.
PRINCIPAL
ACCOUNTANT FEES AND SERVICES
179
ITEM 15.
EXHIBITS AND
FINANCIAL STATEMENT SCHEDULES
(a)
Financial
Statements
Page
88
90
91
92
93
94
95
(b)
Exhibits
180
Table of Contents
By:
S-1
Table of Contents
Director
Director
Director
Director
Director
*By:
Attorney-in-Fact
S-2
Table of Contents
Exhibit
2
.1
Agreement dated October 8, 2007, among Registrant, Newmont
Mining B.C. Limited and Miramar Mining Corporation. Incorporated
by reference to Exhibit 2.1 to Registrants Form 8-K
filed with the Securities and Exchange Commission on October 10,
2007 and Exhibit 7.3 to Registrants Schedule 13D filed
with the Securities and Exchange Commission on October 9, 2007.
2
.2
Acquisition Agreement, dated November 30, 2007, between
Registrant and Franco-Nevada Corporation. Incorporated by
reference to Exhibit 99.1 to Registrants Form 8-K/A
filed with the Securities and Exchange Commission on December
26, 2007.
3
.1
Certificate of Incorporation of Registrant. Incorporated herein
by reference to Appendix F to the Registrants Registration
Statement on Form S-4 (File No. 333-76506), filed with the
Securities and Exchange Commission on January 10, 2002.
3
.2
Certificate of Designations of Special Voting Stock.
Incorporated herein by reference to Exhibit 3.3 to the
Registrants Registration Statement on Form 8-A relating to
the registration of its common stock, filed with the Securities
and Exchange Commission on February 15, 2002.
3
.3
Certificate of Amendment to the Certificate of Incorporation of
Registrant. Incorporated herein by reference to Exhibit 3.4 to
the Registrants Registration Statement on Form 8-A
relating to the registration of its common stock, filed with the
Securities and Exchange Commission on February 15, 2002.
3
.4
Certificate of Designations of $3.25 Convertible Preferred Stock
of Registrant. Incorporated herein by reference to Exhibit 3.6
to the Registrants Registration Statement on Form 8-A
relating to the registration of its $3.25 convertible preferred
stock, filed with the Securities and Exchange Commission on
February 15, 2002.
3
.5
By-laws of the Registrant as amended and restated effective
April 24, 2007, Incorporated by reference to Exhibit 3(1) to
Registrants Form 10-Q for March 31, 2007, and filed with
the Securities and Exchange Commission on April 27, 2007.
4
.1
Indenture, dated as of March 22, 2005, among Newmont Mining
Corporation, Newmont USA Limited and Citibank, N.A. Incorporated
by reference to Exhibit 4.1 to Registrants Form 8-K
filed with the Securities and Exchange Commission on March 22,
2005.
4
.2
Form of 5.875% Note due 2035 issued pursuant to Indenture,
dated as of March 22, 2005, among Registrant, Newmont USA
Limited and Citibank, N.A. Incorporated by reference to Exhibit
4.2 to Registrants Form 8-K filed with the Securities
and Exchange Commission on March 22, 2005.
4
.3
Indenture, dated as of July 17, 2007, among Registrant, Newmont
USA Limited and The Bank of New York Trust Company, N.A.
relating to 1.250% Convertible Senior Notes due 2014.
Incorporated by reference to Exhibit 4.1 to Registrants
Quarterly Report on Form 10-Q for the period June 30,
2007, filed with the Securities and Exchange Commission on
August 2, 2007.
4
.4
Indenture, dated as of July 17, 2007, among Registrant, Newmont
USA Limited and The Bank of New York Trust Company, N.A relating
to 1.625% Convertible Senior Notes due 2017. Incorporated
by reference to Exhibit 4.2 to Registrants Quarterly
Report on Form 10-Q for the period June 30, 2007,
filed with the Securities and Exchange Commission on August 2,
2007.
4
.5
Indenture, dated as of February 3, 2009, by and among Newmont
Mining Corporation, Newmont USA Limited and The Bank of New York
Mellon Trust Company, N.A., as trustee (including form of
3.00% Convertible Senior Note due 2012).Incorporated by
reference to Exhibit 4.1 of Registrants Form 8-K
filed with the Securities and Exchange Commission on February 3,
2009.
E-1
Table of Contents
Exhibit
4
.6
Pass Through Trust Agreement dated as of July 15, 1994, between
Newmont Gold Company (now known as Newmont USA
Limited) and The First National Bank of Chicago relating
to the Pass Through Certificates, Series 1994-A1. (The front
cover of this Exhibit indicates the material differences between
such Exhibit and the substantially similar (except for
price-related information) Pass-Through Agreement between
Newmont Gold Company (now known as Newmont USA
Limited) and The First National Bank of Chicago relating
to the Pass-Through Certificates, Series 1994-A2.) Incorporated
by reference to Exhibit 4.1 to Newmont Gold Companys
Quarterly Report on Form 10-Q for the quarter ended September
30, 1994.
4
.7
Lease dated as of September 30, 1994, between Newmont Gold
Company (now known as Newmont USA Limited) and
Shawmut Bank Connecticut, National Association relating to Trust
No. 1 and a 75% undivided interest in Newmont Gold
Companys refractory gold ore treatment facility. (The
front cover of this Exhibit indicates the material differences
between such Exhibit and the substantially similar (except for
price-related information) entered into on the same date
relating to the remaining 25% undivided interest in the
facility.) Incorporated by reference to Exhibit 4.2 to Newmont
Gold Companys Quarterly Report on Form 10-Q for the
quarter ended September 30, 1994.
4
.8
Trust Indenture and Security Agreement dated as of July 15,
1994, between Shawmut Bank Connecticut, National Association and
The First National Bank of Chicago relating to Trust No. 1 and a
75% undivided interest in Newmont Gold Companys (now known
as Newmont USA Limited) refractory gold ore
treatment facility. (The front cover of this Exhibit indicates
the material differences between such Exhibit and the
substantially similar (except for price-related information)
entered into on the same date relating to the remaining 25%
undivided interest in the facility.) Incorporated by reference
to Exhibit 4.3 to Newmont Gold Companys Quarterly Report
on Form 10-Q for the quarter ended September 30, 1994.
4
.9
See
footnote
(1)
.
10
.1
Savings Equalization Plan, amended and restated, of Newmont USA
Limited, a wholly owned subsidiary of the Registrant, effective
December 31, 2008, filed herewith.
10
.2
Pension Equalization Plan, amended and restated, of Newmont USA
Limited, a wholly owned subsidiary of the Registrant, effective
December 31, 2008, filed herewith.
10
.3
1996 Employees Stock Plan amended and restated effective as of
March 17, 1999. Incorporated by reference to Exhibit 10(d) to
Newmont Mining Corporations Annual Report on Form 10-K for
the year ended December 31, 1998.
10
.4
1999 Employees Stock Plan. Incorporated by reference to Exhibit
10(e) to Newmont Mining Corporations Annual Report on Form
10-K for the year ended December 31, 1998.
10
.5
2005 Stock Incentive Plan, amended and restated effective
October 26, 2005. Incorporated by reference to Exhibit 10.1 of
Registrants Form 8-K filed with the Securities and
Exchange Commission on October 31, 2005.
10
.6
Form of Award Agreement used for Executive Officers to grant
stock options pursuant to Registrants 1996 Employees Stock
Plan. Incorporated herein by reference to Exhibit 99.2 of
Registrants Form 8-K filed with the Securities and
Exchange Commission on December 13, 2004.
10
.7
Form of Award Agreement used for Executive Officers to grant
stock options pursuant to Registrants 1999 Employees Stock
Plan. Incorporated herein by reference to Exhibit 10.1 of
Registrants Form 8-K filed with the Securities and
Exchange Commission on March 2, 2005.
10
.8
Form of Award Agreement used for Executive Officers to grant
restricted stock pursuant to Registrants 1999 Employees
Stock Plan. Incorporated herein by reference to Exhibit 10.1 of
Registrants Form 8-K filed with the Securities and
Exchange Commission on March 2, 2005.
Table of Contents
Exhibit
10
.9
Form of Award Agreement used for Executive Officers to grant
restricted stock units pursuant to Registrants 1999
Employees Stock Plan. Incorporated herein by reference to
Exhibit 10.2 of Registrants Form 8-K filed with the
Securities and Exchange Commission on March 2, 2005.
10
.10
Form of Award Agreement used for Executive Officers to grant
stock options pursuant to Registrants 2005 Stock Incentive
Plan. Incorporated herein by reference to Exhibit 10.2 of
Registrants Form 8-K filed with the Securities and
Exchange Commission on October 26, 2005.
10
.11
Form of Award Agreement used for Executive Officers to grant
restricted stock pursuant to Registrants 2005 Stock
Incentive Plan. Incorporated herein by reference to Exhibit 10.3
of Registrants Form 8-K filed with the Securities and
Exchange Commission on October 26, 2005.
10
.12
Award Agreement for Richard OBrien dated April 30,
2007 to grant restricted stock pursuant to Registrants
2005 Stock Incentive Plan. Incorporated herein by reference to
Exhibit 10.2 to Registrants Form 10-Q for the period March
31, 2007, filed with the Securities and Exchange Commission on
April 27, 2007.
10
.13
Award Agreement for Richard OBrien dated October 31,
2008 to grant restricted stock pursuant to Registrants
2005 Stock Incentive Plan, filed herewith
10
.14
Award Agreement for Richard OBrien dated October 31,
2008 to grant stock options pursuant to Registrants 2005
Stock Incentive Plan, filed herewith.
10
.15
Form of Award Agreement used for non-employee directors to grant
director stock units pursuant to the 2005 Stock Incentive Plan.
Incorporated herein by reference to Exhibit 10.1 of
Registrants Form 8-K filed with the Securities and
Exchange Commission on June 17, 2005.
10
.16
Annual Incentive Compensation Payroll Practice of the
Registrant, amended and restated effective January 1, 2007.
Incorporated by reference to Exhibit 10.33 to Registrants
Form 10-Q for the period June 30, 2007, filed with the
Securities and Exchange Commission on August 2, 2007.
10
.17
Employee Performance Incentive Compensation Payroll Practice of
Registrant, amended and restated effective January 1, 2007.
Incorporated herein by reference to Exhibit 10.33 to
Registrants Form 10-Q for the period June 30, 2007,
filed with the Securities and Exchange Commission on August 2,
2007.
10
.18
Senior Executive Compensation Program effective as of January 1,
2008. Incorporated by reference to Exhibit 10.17 to Newmont
Mining Corporations Annual Report on Form 10-K for the
year ended December 31, 2007.
10
.19
Amended and Restated Officers Death Benefit Plan effective
January 1, 2004 of Newmont USA Limited, a wholly owned
subsidiary of Registrant. Incorporated herein by reference to
Exhibit 10.1 to Registrants Form 8-K filed with the
Securities and Exchange Commission on December 22, 2004.
10
.20
Executive Change of Control Plan, amended and restated effective
December 31, 2008, of Newmont USA Limited, a wholly owned
subsidiary of Registrant, filed herewith.
10
.21
Newmont Mining Corporation 2000 Non-Employee Directors Stock
Plan, as Amended and Restated as of May 17, 2000. Incorporated
by reference to Exhibit 10 to Newmont Mining Corporations
Quarterly Report on Form 10-Q for the quarter ended September
30, 2000.
Table of Contents
Exhibit
10
.22
Credit Agreement dated as of July 30, 2004, as amended and
restated as of July 28, 2005, as amended and restated April 24,
2007, among Newmont Mining Corporation, Newmont USA Limited, JP
Morgan Chase Bank, N.A., Australia and New Zealand Banking Group
Limited, Banco Bilbao Vizcaya SA, Bank of Montreal Chicago
Branch, The Bank of New York, The Bank of Nova Scotia, The Bank
of Tokyo-Mitsubishi, Ltd., BNP Paribas, Calyon New York Branch,
CIBC Inc., Citicorp USA Inc., Commonwealth Bank of Australia New
York Branch, Deutsche Bank AG New York Branch, HSBC Bank USA,
National Association, Mizuho Corporate Bank, Ltd., Royal Bank of
Canada, The Royal Bank of Scotland, plc, Societe Generale,
Sumitomo Mitsui Banking Corporation, UBS Loan Finance LLC, US
Bank N.A. Incorporated by reference as Exhibit 10.1 to
Registrants Quarterly Report on Form 10-Q for the period
March 31, 2007, filed with the Securities and Exchange
Commission on April 27, 2007.
10
.23
Summary of Non-Employee Director Compensation and Benefits,
effective January 1, 2008. Incorporated by reference as
Exhibit 10.34 to Registrants Annual Report on
Form 10-K
for the year ended December 31, 2007.
10
.24
Summary of Executive Compensation, filed herewith.
10
.25
Purchase Agreement, dated as of July 11, 2007, by and among
Newmont Mining Corporation, Newmont USA Limited and
J.P. Morgan Securities Inc. and Citigroup Global Markets
Inc., as Representatives of the several Initial Purchasers
listed in Schedule I thereto. Incorporated by reference as
Exhibit 10.1 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.26
Confirmation of Convertible Note Hedge, dated as of July 11,
2007, between Newmont Mining Corporation and JPMorgan Chase
Bank, National Association, London Branch (with respect to 2014
Notes). Incorporated by reference as Exhibit 10.2 to
Registrants Form 10-Q for the period June 30, 2007,
filed with the Securities and Exchange Commission on August 2,
2007.
10
.27
Confirmation of Convertible Note Hedge, dated as of July 11,
2007, between Newmont Mining Corporation and JPMorgan Chase
Bank, National Association, London Branch (with respect to 2017
Notes). Incorporated by reference as Exhibit 10.3 to
Registrants Form 10-Q for the period June 30, 2007,
filed with the Securities and Exchange Commission on August 2,
2007.
10
.28
Confirmation of Convertible Note Hedge, dated as of July 11,
2007, between Newmont Mining Corporation and Citibank, N.A.
(with respect to 2014 Notes). Incorporated by reference as
Exhibit 10.4 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007. 2007.
10
.29
Confirmation of Convertible Note Hedge, dated as of July 11,
2007, between Newmont Mining Corporation and Citibank, N.A.
(with respect to 2017 Notes). Incorporated by reference as
Exhibit 10.5 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.30
Confirmation of Convertible Note Hedge, dated as of July 11,
2007, between Newmont Mining Corporation and UBS AG, London
Branch (with respect to 2014 Notes). Incorporated by reference
as Exhibit 10.6 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.31
Confirmation of Convertible Note Hedge, dated as of July 11,
2007, between Newmont Mining Corporation and UBS AG, London
Branch (with respect to 2017 Notes). Incorporated by reference
as Exhibit 10.7 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.32
Confirmation of Convertible Note Hedge, dated as of July 11,
2007, between Newmont Mining Corporation and Deutsche Bank AG,
London Branch (with respect to 2014 Notes). Incorporated by
reference as Exhibit 10.8 to Registrants Form 10-Q for the
period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
Table of Contents
Exhibit
10
.33
Confirmation of Convertible Note Hedge, dated as of July 11,
2007, between Newmont Mining Corporation and Deutsche Bank AG,
London Branch (with respect to 2017 Notes). Incorporated by
reference as Exhibit 10.9 to Registrants Form 10-Q for the
period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.34
Confirmation of Convertible Note Warrant Transaction, dated as
of July 11, 2007, between Newmont Mining Corporation and
JPMorgan Chase Bank, National Association, London Branch (with
respect to 2014 Notes). Incorporated by reference as Exhibit
10.10 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.35
Confirmation of Convertible Note Warrant Transaction, dated as
of July 11, 2007, between Newmont Mining Corporation and
JPMorgan Chase Bank, National Association, London Branch (with
respect to 2017 Notes). Incorporated by reference as Exhibit
10.11 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.36
Confirmation of Convertible Note Warrant Transaction, dated as
of July 11, 2007, between Newmont Mining Corporation and
Citibank, N.A. (with respect to 2014 Notes). Incorporated by
reference as Exhibit 10.12 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.37
Confirmation of Convertible Note Warrant Transaction, dated as
of July 11, 2007, between Newmont Mining Corporation and
Citibank, N.A. (with respect to 2017 Notes). Incorporated by
reference as Exhibit 10.13 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.38
Confirmation of Convertible Note Warrant Transaction, dated as
of July 11, 2007, between Newmont Mining Corporation and UBS AG,
London Branch (with respect to 2014 Notes). Incorporated by
reference as Exhibit 10.14 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.39
Confirmation of Convertible Note Warrant Transaction, dated as
of July 11, 2007, between Newmont Mining Corporation and UBS AG,
London Branch (with respect to 2017 Notes). Incorporated by
reference as Exhibit 10.15 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.40
Confirmation of Convertible Note Warrant Transaction, dated as
of July 11, 2007, between Newmont Mining Corporation and
Deutsche Bank AG, London Branch (with respect to 2014 Notes).
Incorporated by reference as Exhibit 10.16 to Registrants
Form 10-Q for the period June 30, 2007, filed with the
Securities and Exchange Commission on August 2, 2007.
10
.41
Confirmation of Convertible Note Warrant Transaction, dated as
of July 11, 2007, between Newmont Mining Corporation and
Deutsche Bank AG, London Branch (with respect to 2017 Notes).
Incorporated by reference as Exhibit 10.17 to Registrants
on Form 10-Q for the period June 30, 2007, filed with the
Securities and Exchange Commission on August 2, 2007.
10
.42
Confirmation of Convertible Note Hedge, dated as of July 13,
2007, between Newmont Mining Corporation and JPMorgan Chase
Bank, National Association, London Branch (with respect to 2014
Notes). Incorporated by reference as Exhibit 10.18 to
Registrants Form 10-Q for the period June 30, 2007,
filed with the Securities and Exchange Commission on August 2,
2007.
10
.43
Confirmation of Convertible Note Hedge, dated as of July 13,
2007, between Newmont Mining Corporation and JPMorgan Chase
Bank, National Association, London Branch (with respect to 2017
Notes). Incorporated by reference as Exhibit 10.19 to
Registrants Form 10-Q for the period June 30, 2007,
filed with the Securities and Exchange Commission on August 2,
2007.
Table of Contents
Exhibit
10
.44
Confirmation of Convertible Note Hedge, dated as of July 13,
2007, between Newmont Mining Corporation and Citibank, N.A.
(with respect to 2014 Notes). Incorporated by reference as
Exhibit 10.20 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.45
Confirmation of Convertible Note Hedge, dated as of July 13,
2007, between Newmont Mining Corporation and Citibank, N.A.
(with respect to 2017 Notes). Incorporated by reference as
Exhibit 10.21 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.46
Confirmation of Convertible Note Hedge, dated as of July 13,
2007, between Newmont Mining Corporation and UBS AG, London
Branch (with respect to 2014 Notes). Incorporated by reference
as Exhibit 10.22 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.47
Confirmation of Convertible Note Hedge, dated as of July 13,
2007, between Newmont Mining Corporation and UBS AG, London
Branch (with respect to 2017 Notes). Incorporated by reference
as Exhibit 10.23 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.48
Confirmation of Convertible Note Hedge, dated as of July 13,
2007, between Newmont Mining Corporation and Deutsche Bank AG,
London Branch (with respect to 2014 Notes). Incorporated by
reference as Exhibit 10.24 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.49
Confirmation of Convertible Note Hedge, dated as of July 13,
2007, between Newmont Mining Corporation and Deutsche Bank AG,
London Branch (with respect to 2017 Notes). Incorporated by
reference as Exhibit 10.25 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.50
Confirmation of Convertible Note Warrant Transaction, dated as
of July 13, 2007, between Newmont Mining Corporation and
JPMorgan Chase Bank, National Association, London Branch (with
respect to 2014 Notes). Incorporated by reference as Exhibit
10.26 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.51
Confirmation of Convertible Note Warrant Transaction, dated as
of July 13, 2007, between Newmont Mining Corporation and
JPMorgan Chase Bank, National Association, London Branch (with
respect to 2017 Notes). Incorporated by reference as Exhibit
10.27 to Registrants Form 10-Q for the period
June 30, 2007, filed with the Securities and Exchange
Commission on August 2, 2007.
10
.52
Confirmation of Convertible Note Warrant Transaction, dated as
of July 13, 2007, between Newmont Mining Corporation and
Citibank, N.A. (with respect to 2014 Notes). Incorporated by
reference as Exhibit 10.28 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.53
Confirmation of Convertible Note Warrant Transaction, dated as
of July 13, 2007, between Newmont Mining Corporation and
Citibank, N.A. (with respect to 2017 Notes). Incorporated by
reference as Exhibit 10.29 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.54
Confirmation of Convertible Note Warrant Transaction, dated as
of July 13, 2007, between Newmont Mining Corporation and UBS AG,
London Branch (with respect to 2014 Notes). Incorporated by
reference as Exhibit 10.30 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
10
.55
Confirmation of Convertible Note Warrant Transaction, dated as
of July 13, 2007, between Newmont Mining Corporation and UBS AG,
London Branch (with respect to 2017 Notes). Incorporated by
reference as Exhibit 10.31 to Registrants Form 10-Q for
the period June 30, 2007, filed with the Securities and
Exchange Commission on August 2, 2007.
Table of Contents
Exhibit
10
.56
Confirmation of Convertible Note Warrant Transaction, dated as
of July 13, 2007, between Newmont Mining Corporation and
Deutsche Bank AG, London Branch (with respect to 2014 Notes).
Incorporated by reference as Exhibit 10.32 to Registrants
Form 10-Q for the period June 30, 2007, filed with the
Securities and Exchange Commission on August 2, 2007.
10
.57
Confirmation of Convertible Note Warrant Transaction, dated as
of July 13, 2007, between Newmont Mining Corporation and
Deutsche Bank AG, London Branch (with respect to 2017 Notes).
Incorporated by reference as Exhibit 10.33 to Registrants
Form 10-Q for the period June 30, 2007, filed with the
Securities and Exchange Commission on August 2, 2007.
10
.58
Office Space and Office Services Agreement between Newmont (USA)
Limited and Wayne W. Murdy effective January 1, 2008.
Incorporated by reference as Exhibit 10.37 to Registrants
Form 10-Q for the period June 30, 2007, filed with the
Securities and Exchange Commission on August 2, 2007.
10
.59
Sale and Purchase Agreement, dated as of January 27, 2009 with
AngloGold Ashanti Australia Limited. Incorporated by reference
as Exhibit 10.1 to Registrants Form 8-K filed with
the Securities and Exchange Commission on January 28, 2009.
10
.60
Contract of Work dated December 2, 1986, between the Government
of the Republic of Indonesia and PT Newmont Nusa Tenggara.
Incorporated by reference as Exhibit 10.1 to Registrants
Form 10-Q filed with the Securities and Exchange Commission on
July 24, 2008.
12
.1
Statement re Computation of Ratio of Earnings to Fixed Charges,
filed herewith.
21
Subsidiaries of Newmont Mining Corporation, filed herewith.
23
.1
Consent of PricewaterhouseCoopers LLP, filed herewith.
24
Power of Attorney, filed herewith.
31
.1
Certification Pursuant to Rule 13A-14 or 15D-14 of the
Securities Exchange Act of 1934, as adopted pursuant to Section
302 of the Sarbanes-Oxley Act of 2002 signed by the Principal
Executive Officer, filed herewith.
31
.2
Certification Pursuant to Rule 13A-14 or 15D-14 of the
Securities Exchange Act of 1934, as adopted pursuant to Section
302 of the Sarbanes-Oxley Act of 2002 signed by the Principal
Financial Officer, filed herewith.
32
.1
Statement Required by 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed
by Principal Executive Officer, furnished herewith.
32
.2
Statement Required by 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed
by Chief Financial Officer, furnished herewith.
100
(2)
The following materials from the Annual Report on Form 10-K of
Newmont Mining Corporation for the year ended December 31, 2008,
filed on February 18, 2009, formatted in XBRL (eXtensible
Business Reporting Language): (i) Statements of Consolidated
Income (Loss), (ii) Consolidated Balance Sheets, (iii)
Statements of Consolidated Changes in Stockholders Equity,
(iv) Statements of Consolidated Comprehensive (Loss) Income,
(v) Statements of Consolidated Cash Flows, (vi) document
and entity information, and (vii) related notes to these
financial statements tagged as blocks of text.
(1)
In reliance upon Item 601(b)(4)(iii) of
Regulation S-K,
various instruments defining the rights of holders of long-term
debt of the Newmont Mining Corporation are not being filed
herewith because the total of securities authorized under each
such instrument does not exceed 10% of the total assets of
Newmont Mining Corporation. Newmont Mining Corporation hereby
agrees to furnish a copy of any such instrument to the
Commission upon request.
(2)
In accordance with Rule 402 of
Regulation S-T,
the information in this Exhibit 100 shall not be deemed
filed for the purposes of section 18 of the
Securities Exchange Act of 1934, as amended (the Exchange
Act), or otherwise subject to the liability of that
section, and shall not be incorporated by reference into any
registration statement or other document filed under the
Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by the specific reference in
such filing.
Page | ||||
ARTICLE I
|
||||
|
||||
DEFINITIONS
|
1 | |||
|
||||
ARTICLE II
ELIGIBILITY AND PARTICIPATION |
||||
|
||||
Section 2.01. Eligibility and Participation
|
5 | |||
|
||||
Section 2.02. Enrollment
|
6 | |||
|
||||
Section 2.03. Plan Re-entry
|
6 | |||
|
||||
Section 2.04. Failure of Eligibility
|
6 | |||
|
||||
Section 2.05. Forfeiture Upon Termination for Cause
|
6 | |||
|
||||
ARTICLE III
CONTRIBUTION DEFERRALS |
||||
|
||||
Section 3.01. Participant Base Compensation Deferrals
|
6 | |||
|
||||
Section 3.02. Bonus Deferrals
|
7 | |||
|
||||
Section 3.03. Company Deferrals
|
8 | |||
|
||||
ARTICLE IV
INVESTMENT OF DEFERRALS AND ACCOUNTING |
||||
|
||||
Section 4.01. Investment Credit
|
8 | |||
|
||||
Section 4.02. Limitations on Investments
|
8 | |||
|
||||
Section 4.03. Underlying Investments
|
8 | |||
|
||||
ARTICLE V
DISTRIBUTIONS |
||||
|
||||
Section 5.01. Distribution Elections Generally
|
9 | |||
|
||||
Section 5.02. Time of Distribution
|
9 | |||
|
||||
Section 5.03. Form of Distribution
|
10 | |||
|
||||
Section 5.04. Vesting of Benefits
|
10 | |||
|
||||
Section 5.05. Election Changes
|
11 | |||
|
||||
Section 5.06. Domestic Relations Orders
|
11 | |||
|
||||
Section 5.07. Unforeseeable Emergency
|
12 | |||
|
||||
Section 5.08. Beneficiaries
|
12 |
Page | ||||
ARTICLE VI
COMMITTEES |
||||
|
||||
Section 6.01. Appointment of Committees
|
13 | |||
|
||||
Section 6.02. Responsibilities of the Administration Committee
|
13 | |||
|
||||
Section 6.03. Responsibilities of the Investment Committee
|
13 | |||
|
||||
Section 6.04. Responsibilities of the Appeals Committee
|
13 | |||
|
||||
Section 6.05. Organization of Committees
|
14 | |||
|
||||
Section 6.06. Indemnification of Committee Members
|
14 | |||
|
||||
ARTICLE VII
CLAIMS PROCEDURES |
||||
|
||||
Section 7.01. Filing a Claim
|
14 | |||
|
||||
Section 7.02. Review of Initial Claim
|
15 | |||
|
||||
Section 7.03. Appeal of Denial of Initial Claim
|
15 | |||
|
||||
Section 7.04. Review of Appeal
|
15 | |||
|
||||
Section 7.05. Form of Notice to Claimant
|
15 | |||
|
||||
Section 7.06. Discretionary Authority of Committees
|
16 | |||
|
||||
ARTICLE VIII
TRUST |
||||
|
||||
Section 8.01. Trust Agreement
|
16 | |||
|
||||
Section 8.02. Expenses of Trust
|
16 | |||
|
||||
ARTICLE IX
AMENDMENT AND TERMINATION |
||||
|
||||
Section 9.01. Termination of Plan
|
16 | |||
|
||||
Section 9.02. Amendment by Board of Directors
|
17 | |||
|
||||
ARTICLE X
MISCELLANEOUS |
||||
|
||||
Section 10.01. Funding of Benefits; No Fiduciary Relationship
|
17 | |||
|
||||
Section 10.02. Inalienability of Benefits
|
17 | |||
|
||||
Section 10.03. Disposition of Unclaimed Distributions
|
18 | |||
|
||||
Section 10.04. Tax Withholding
|
18 | |||
|
||||
Section 10.05. Employment Status
|
18 | |||
|
||||
Section 10.06. Validity and Severability
|
18 | |||
|
||||
Section 10.07. Governing Law
|
18 | |||
|
||||
Section 10.08. Right of Offset
|
18 |
Page | ||||
Section 10.09. Conformance With Applicable Laws
|
18 | |||
|
||||
Section 10.10. Payments Due Minors or Incapacitated Persons
|
19 | |||
|
||||
Section 10.11. Distribution Delay for Specified Employees
|
19 | |||
|
||||
ARTICLE XI
TRANSITION RULES AND ELECTIONS |
||||
|
||||
Section 11.01. Code Section 409A Restatement Grandfather
|
19 | |||
|
||||
Section 11.02. Election of Time and Form of Payment for Amounts Credited From January
1, 2005 to December 31, 2008
|
19 | |||
|
||||
Section 11.03. Distribution Scheduled for 2008
|
20 | |||
|
||||
Section 11.04. Credits Made in 2008
|
20 |
| Base Compensation Deferral Account. | ||
| Bonus Compensation Deferral Account. | ||
| Company Deferral Account. |
Years of Vesting Service | Vested Portion | |||
Less than 1
|
0 | % | ||
1
|
20 | |||
2
|
40 | |||
3
|
60 | |||
4 or more
|
100 |
NEWMONT USA LIMITED | ||||||
|
||||||
|
By | /s/ Alan R. Blank | ||||
|
||||||
|
Executive Vice President, Legal and External Affairs | |||||
|
Page | ||||
ARTICLE I
|
||||
|
||||
DEFINITIONS
|
1 | |||
|
||||
ARTICLE II
|
||||
ELIGIBILITY AND PARTICIPATION
|
||||
|
||||
Section 2.01. Eligibility and Participation
|
5 | |||
Section 2.02. Failure of Eligibility
|
6 | |||
Section 2.03. Forfeiture Upon Termination for Cause
|
6 | |||
|
||||
ARTICLE III
|
||||
|
||||
FUNDING
|
6 | |||
|
||||
ARTICLE IV
|
||||
EXECUTIVE RETIREMENT BENEFITS
|
||||
|
||||
Section 4.01. Normal Retirement Benefit
|
7 | |||
Section 4.02. Early Retirement Benefit
|
8 | |||
Section 4.03. Benefits on Other Termination of Employment
|
8 | |||
Section 4.04. Method and Time of Payment
|
8 | |||
Section 4.05. Nonduplication of Benefits
|
8 | |||
|
||||
ARTICLE V
|
||||
SPOUSAL BENEFITS
|
||||
|
||||
Section 5.01. Pre-Retirement Spousal Benefit
|
9 | |||
Section 5.02. Post-Retirement Spousal Benefit
|
9 | |||
|
||||
ARTICLE VI
|
||||
ADMINISTRATION
|
||||
|
||||
Section 6.01. Appointment of Committees
|
9 | |||
Section 6.02. Responsibilities of the Administration Committee
|
9 | |||
Section 6.03. Responsibilities of the Appeals Committee
|
10 | |||
Section 6.04. Organization of Committees
|
10 | |||
Section 6.05. Indemnification of Committee Members
|
10 | |||
|
||||
ARTICLE VII
|
||||
CLAIMS PROCEDURES
|
||||
|
||||
Section 7.01. Filing a Claim
|
11 | |||
Section 7.02. Review of Initial Claim
|
11 | |||
Section 7.03. Appeal of Denial of Initial Claim
|
11 | |||
Section 7.04. Review of Appeal
|
11 | |||
Section 7.05. Form of Notice to Claimant
|
12 | |||
Section 7.06. Discretionary Authority of Committees
|
12 | |||
Section 7.07. Limitation on Claims
|
12 |
Page | ||||
ARTICLE VIII
|
||||
AMENDMENT AND TERMINATION
|
||||
|
||||
Section 8.01. Termination of Plan
|
12 | |||
Section 8.02. Amendment by Company
|
13 | |||
|
||||
ARTICLE IX
|
||||
MISCELLANEOUS
|
||||
|
||||
Section 9.01. Inalienability of Benefits
|
13 | |||
Section 9.02. Domestic Relations Orders
|
13 | |||
Section 9.03. Disposition of Unclaimed Payments
|
13 | |||
Section 9.04. Withholding
|
14 | |||
Section 9.05. Participation in Plan by Affiliates
|
14 | |||
Section 9.06. Notices
|
14 | |||
Section 9.07. Employment Status
|
14 | |||
Section 9.08. Successors
|
14 | |||
Section 9.09. Validity and Severability
|
14 | |||
Section 9.10. Governing Law
|
14 | |||
Section 9.11. Right of Offset
|
14 | |||
Section 9.12. Conformance With Applicable Laws
|
15 | |||
Section 9.13. Payments Due Minors or Incapacitated Persons
|
15 | |||
Section 9.14. Distribution Delay for Specified Employees
|
15 |
NEWMONT USA LIMITED | ||||||
|
||||||
|
By | /s/ Alan R. Blank | ||||
|
||||||
|
Executive Vice President, Legal and External Affairs | |||||
|
2
3
4
NEWMONT MINING CORPORATION
|
||||
By: | /s/ Sharon E. Thomas | |||
Sharon E. Thomas | ||||
Vice President and Secretary | ||||
/s/ Richard T. OBrien
Richard T. OBrien
|
5
2
3
4
5
6
7
NEWMONT MINING CORPORATION
|
||||
By: | /s/ Sharon E. Thomas | |||
Sharon E. Thomas | ||||
Vice President and Secretary | ||||
/s/ Richard T. OBrien
Richard T. OBrien
|
8
Page | ||||
INTRODUCTION
|
1 | |||
|
||||
ARTICLE I
|
||||
|
||||
DEFINITIONS
|
1 | |||
|
||||
ARTICLE II
|
||||
ELIGIBILITY
|
||||
|
||||
Section 2.01. Eligibility Requirements
|
6 | |||
|
||||
Section 2.02. Duration of Participation
|
7 | |||
|
||||
ARTICLE III
|
||||
BENEFITS
|
||||
|
||||
Section 3.01. Separation Benefits
|
7 | |||
|
||||
Section 3.02. Timing and Amount of Separation Benefits
|
7 | |||
|
||||
Section 3.03. Other Benefits Payable
|
9 | |||
|
||||
Section 3.04. Certain Additional Payments by the Employer
|
9 | |||
|
||||
Section 3.05. Coordination With Governmental Plans
|
12 | |||
|
||||
Section 3.06. Payment Due at the Time of Death
|
13 | |||
|
||||
ARTICLE IV
|
||||
TERMINATION OF BENEFITS
|
||||
|
||||
Section 4.01. Termination of Benefits Generally
|
13 | |||
|
||||
ARTICLE V
|
||||
|
||||
CONTINUATION OF HEALTH CARE COVERAGE
|
13 | |||
|
||||
ARTICLE VI
|
||||
|
||||
PROTECTION OF MEDICAL PRIVACY
|
13 | |||
|
||||
ARTICLE VII
|
||||
ADMINISTRATION COMMITTEE
|
||||
|
||||
Section 7.01. Appointment of the Administration Committee
|
13 | |||
|
||||
Section 7.02. Responsibilities of the Administration Committee
|
14 | |||
|
||||
Section 7.03. Organization of the Administration Committee
|
14 | |||
|
||||
Section 7.04. Indemnification of Administration Committee Members
|
14 | |||
|
||||
Section 7.05. Benefits Claims and Appeals
|
15 |
Page | ||||
ARTICLE VIII
|
||||
MISCELLANEOUS
|
||||
|
||||
Section 8.01. Full Settlement
|
15 | |||
|
||||
Section 8.02. Confidential Information
|
16 | |||
|
||||
Section 8.03. Unfunded Plan Status
|
16 | |||
|
||||
Section 8.04. Employment Status
|
16 | |||
|
||||
Section 8.05. Validity and Severability
|
16 | |||
|
||||
Section 8.06. Governing Law
|
16 | |||
|
||||
Section 8.07. Right of Offset
|
16 | |||
|
||||
Section 8.08. Conformance With Applicable Laws
|
17 | |||
|
||||
Section 8.09. Payments Due Minors or Incapacitated Persons
|
17 | |||
|
||||
Section 8.10. Distribution Delay for Specified Employees
|
17 | |||
|
||||
ARTICLE IX
|
||||
DURATION, AMENDMENT AND TERMINATION
|
||||
|
||||
Section 9.01. Duration
|
17 | |||
|
||||
Section 9.02. Amendment or Termination
|
17 | |||
|
||||
Section 9.03. Procedure for Extension, Amendment or Termination
|
18 |
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 1 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 2 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 3 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 4 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 5 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 6 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 7 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 8 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 9 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 10 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 11 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 12 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 13 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 14 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 15 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 16 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 17 of 19
Executive Change of Control Plan of Newmont
Effective December 31, 2008
Page 18 of 19
Name and Current Position | Base Salary ($) | |||
Richard T. OBrien
|
$ | 1,000,000 | ||
President and Chief Executive Officer
|
||||
Russell Ball
|
$ | 540,000 | ||
Executive Vice President and Chief Financial Officer
|
||||
Randy Engel
|
$ | 490,000 | ||
Executive Vice President, Strategic Development
|
||||
Guy Lansdown
|
$ | 560,000 | ||
Executive Vice President, Development
|
| Participate in Senior Executive Compensation Program (filed as Exhibit 10.18 to this Annual Report on Form 10-K (Form 10-K), which includes award of Financial Performance Shares, a Strategic Objectives Bonus and Corporate Performance Bonus. | |
| Participate in a long-term stock option incentive practice. See Proxy Statement pursuant to Section 14(a) of Securities Exchange Act of 1934 filed February 28, 2008 (Proxy Statement) for description of the stock option program. |
Target | ||||||||||||||||
Financial | Maximum | Target Corporate | ||||||||||||||
Performance | Strategic | Performance | ||||||||||||||
Stock | Objectives Bonus | Bonus (% of | Target Stock | |||||||||||||
(% of annual | (% of annual base | annual base | Option Grant | |||||||||||||
base salary) | salary ) | salary) | (# options) | |||||||||||||
Richard T. OBrien
|
135 | 125 | 62.5 | 90,000 | ||||||||||||
Russell Ball
|
110 | 75 | 37.5 | 40,000 | ||||||||||||
Randy Engel
|
110 | 75 | 37.5 | 40,000 | ||||||||||||
Guy Lansdown
|
110 | 75 | 37.5 | 40,000 |
| Participate in the Companys broad-based benefit programs generally available to U.S. based salaried employees, including health, disability, and life insurance programs, qualified 401(k), pension plan and severance plan. See Proxy Statement for description of disability benefits, qualified 401(k) plan, pension plan and severance plan. |
| Participate in Companys non-qualified savings plan, non-qualified pension plan, executive change of control plan and officers death benefit plan (filed as Exhibits to this Form 10-K). See Proxy Statement for description of the nonqualified savings plan, non-qualified pension plan, executive change of control plan and officers death benefit plan. |
| Receive certain perquisites, including country club or social membership for the Chief Executive Officer and personal use of administrative assistant services. See Proxy Statement for description of such perquisites. |
Years Ended December 31, | ||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Earnings:
|
||||||||||||||||||||
Income (loss) from continuing operations
before income tax expense and accounting
change
(1) (2)
|
$ | 1,276 | $ | (352 | ) | $ | 1,250 | $ | 924 | $ | 1,048 | |||||||||
Adjustments:
|
||||||||||||||||||||
Fixed charges added to earnings
|
114 | 112 | 103 | 101 | 101 | |||||||||||||||
Dividends from equity affiliates
|
| 2 | 1 | | 2 | |||||||||||||||
Amortization of capitalized interest
|
17 | 18 | 13 | 16 | 16 | |||||||||||||||
|
||||||||||||||||||||
|
$ | 1,407 | $ | (220 | ) | $ | 1,367 | $ | 1,041 | $ | 1,167 | |||||||||
|
||||||||||||||||||||
Fixed Charges:
|
||||||||||||||||||||
Net interest expense
(3)
|
$ | 102 | $ | 105 | $ | 97 | $ | 97 | $ | 97 | ||||||||||
Portion of rental expense representative
of interest
|
12 | 7 | 6 | 4 | 4 | |||||||||||||||
|
||||||||||||||||||||
Fixed charges added to earnings
|
114 | 112 | 103 | 101 | 101 | |||||||||||||||
Capitalized interest
|
47 | 50 | 57 | 39 | 13 | |||||||||||||||
|
||||||||||||||||||||
|
$ | 161 | $ | 162 | $ | 160 | $ | 140 | $ | 114 | ||||||||||
|
||||||||||||||||||||
Ratio of earnings to fixed charges
|
8.7 | (4) | 8.5 | 7.4 | 10.2 |
(1) | Income (loss) from continuing operations before income tax expense, minority interest, equity (loss) income of affiliates and cumulative effect of a change in accounting principle. | |
(2) | Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included in Income tax expense . | |
(3) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. | |
(4) | Earnings for 2007 were inadequate to cover fixed charges by $382. |
Name | State/Country of Incorporation | Ownership Percentage | ||
Newmont Mining Corporation
|
Delaware, USA | |||
Dacia Exploration S.R.L.
|
Romania | 100% | ||
DAfrico (Overseas) Ltd
|
Cyprus | 100% | ||
Moydow Limited
|
Ghana | 100% | ||
Newmont LaSource SAS
|
France | 16.9251% | ||
N.I. Limited
|
Bermuda | 7% | ||
Newmont Australia Holdings Pty Ltd
|
Victoria, Australia | 100% | ||
Newmont Australia Limited
|
Victoria, Australia | 70.68% | ||
Australian Tenement Holdings Pty Ltd
|
Victoria, Australia | 100% | ||
Bardini Pty Ltd
|
Western Australia | 100% | ||
National Shareholder Services Pty Ltd
|
Western Australia | 100% | ||
Newmont AP Power Pty Ltd
|
Western Australia | 100% | ||
Newmont Capital Pty Ltd
|
New South Wales, Australia | 100% | ||
Pacific-Nevada Mining Pty Ltd
|
Australian Capital Territory | 100% | ||
Newmont Metals Pty Ltd
|
Australian Capital Territory | 100% | ||
Newmont Golden Grove Operations Pty Ltd
|
Western Australia | 100% | ||
Newmont Midas Holdings Limited
|
Nevada, USA | 9.1% | ||
Newmont Midas Operations Inc.
|
Nevada, USA | 100% | ||
Newmont Mining Finance Pty Ltd
|
Australian Capital Territory | 100% | ||
Newmont Mining Holdings Pty Ltd
|
South Australia | 100% | ||
Newmont ACM Pty Ltd
|
Victoria, Australia | 100% | ||
Australian Consolidated Minerals Pty Ltd
|
Western Australia | 100% | ||
Newmont Exploration Pty Ltd
|
South Australia | 100% | ||
Newmont Gold Pty Ltd
|
Western Australia | 100% | ||
GMK Investments Pty Ltd
|
South Australia | 100% | ||
GMKI Pty Ltd
|
Australia Capital Territory | 100% | ||
GPS Finance Pty Ltd
|
Australia Capital Territory | 100% | ||
Newmont Power Pty Ltd
|
South Australia | 100% | ||
NP Kalgoorlie Pty Ltd
|
South Australia | 100% | ||
Goldfields Power Pty Ltd
|
Western Australia | 50% | ||
Newmont Yandal Operations Pty Ltd
|
Victoria, Australia | 12.557% | ||
Clynton Court Pty Ltd
|
Victoria, Australia | 100% | ||
Great Central Holdings Pty Ltd
|
Victoria, Australia | 100% | ||
Eagle Mining Pty Ltd
|
Western Australia | 100% | ||
Hunter Resources Pty Ltd
|
Queensland, Australia | 100% | ||
Quotidian No. 117 Pty Ltd
|
Victoria, Australia | 100% | ||
Matlock Mining Pty Ltd
|
Western Australia | 46.5% | ||
Matlock Mining Pty Ltd
|
Western Australia | 53.5% | ||
Australian Metals Corporation Pty Ltd
|
Western Australia | 100% | ||
Great Central Mines Pty Ltd
|
Western Australia | 100% | ||
Matlock Castellano Pty Ltd
|
Western Australia | 100% | ||
Great Central Investments Pty Ltd
|
Victoria, Australia | 100% | ||
Newmont Wiluna Mines Pty Ltd
|
Western Australia | 100% | ||
Newmont Wiluna Gold Pty Ltd
|
Queensland, Australia | 100% | ||
Newmont Wiluna Metals Pty Ltd
|
Western Australia | 100% | ||
Newmont Finance Limited
|
South Australia | 100% | ||
Newmont GMK Holdings Pty Ltd
|
Western Australia | 100% | ||
Kalgoorlie Lake View Pty Ltd
|
Victoria, Australia | 100% | ||
Kalgoorlie Consolidated Gold Mines Pty Ltd.
|
Western Australia | 50% |
1
Name | State/Country of Incorporation | Ownership Percentage | ||
Macapa Pty Ltd
|
Western Australia | 100% | ||
Newmont GRPL Pty Ltd
|
Western Australia | 100% | ||
Norkal Pty Ltd
|
Western Australia | 100% | ||
North Kalgurli Mines Pty Ltd
|
Western Australia | 100% | ||
Newmont Gold Exploration Pty Ltd
|
Western Australia | 100% | ||
Newmont Gold Marketing & Finance Pty Ltd
|
South Australia | 100% | ||
Australian Gold Alliance Pty Ltd
|
South Australia | 100% | ||
AGR Management Services Pty Ltd
|
Western Australia | 40% | ||
AGR Matthey (NZ) Limited
|
New Zealand | 40% | ||
Newmont Gold Treasury Pty Ltd
|
South Australia | 100% | ||
Newmont Group Finance Pty Ltd
|
South Australia | 100% | ||
Newmont NGL Holdings Pty Ltd
|
Northern Territory, Australia | 100% | ||
Newmont Boddington Holdings Pty Ltd
|
South Australia | 100% | ||
Newmont Boddington Investments Pty Ltd
|
South Australia | 100% | ||
Newmont Boddington Pty Ltd
|
South Australia | 100% | ||
BGM Management Company Pty Ltd
|
Western Australia | 100% | ||
Newmont Kaltails Pty Ltd
|
Victoria, Australia | 100% | ||
Newmont Pajingo Pty Ltd
|
Western Australia | 100% | ||
Newmont Tanami Pty Ltd
|
South Australia | 57.39% | ||
Otter Gold Mines Pty Ltd
|
Victoria, Australia | 100% | ||
Otter Gold Pty Ltd
|
New South Wales, Australia | 100% | ||
Wirralie Gold Mines Pty Ltd
|
Queensland, Australia | 100% | ||
Newmont Pacific Energy Pty Ltd
|
New South Wales, Australia | 100% | ||
Yandal Gold Holdings Pty Ltd
|
Australian Capital Territory | 100% | ||
Yandal Gold Pty Ltd
|
Western Australia | 100% | ||
Newmont Yandal Operations Pty Ltd
|
Victoria, Australia | 59.6361% | ||
Newmont International Exploration Pty Ltd
|
South Australia | 100% | ||
Newmont Asia Pty Ltd
|
South Australia | 100% | ||
Kepala Burung Offshore Pty Ltd
|
Victoria, Australia | 36.11% | ||
Newmont International Holdings Pty Ltd
|
South Australia | 100% | ||
Newmont Mining Services Pty Ltd
|
South Australia | 100% | ||
Newmont Pacific Pty Ltd
|
New South Wales, Australia | 100% | ||
Newmont Tanami Pty Ltd
|
South Australia | 42.61% | ||
Newmont Woodcutters Pty Ltd
|
New South Wales, Australia | 100% | ||
Newmont Yandal Operations Pty Ltd
|
Victoria, Australia | 27.8069% | ||
Newmont Capital Limited
|
Nevada, USA | 88.65% | ||
Newmont Australia Limited
|
Victoria, Australia | 13.14% | ||
Newmont USA Limited
|
Delaware, USA | 100% | ||
Balkhash Mining and Exploration Inc.
|
Delaware, USA | 100% | ||
Battle Mountain Gold Company
|
Nevada, USA | 100% | ||
Battle Mountain Exploration Company
|
Texas, USA | 100% | ||
Battle Mountain (Irian Jaya) Ltd.
|
Nevada, USA | 100% | ||
PT Iriana Mutiara Mining
|
Indonesia | 80% | ||
Battle Mountain Resources Inc.
|
Nevada, USA | 100% | ||
Empresa Minera Inti Raymi S.A.
|
Bolivia | 60.5% | ||
Minera BMG
|
Nevada, USA | 100% | ||
Minera Choluteca S.A. de C.V.
|
Honduras | 50% | ||
Newmont Australia Investment Limited
|
Delaware, USA | 100% | ||
Newmont Bolivia Limited
|
Nevada, USA | 100% | ||
Empresa Minera Inti Raymi S.A.
|
Bolivia | 27.5% | ||
Empresa Minera La Joya S.R.L.
|
Bolivia | 75.5% | ||
Newmont Canada Corporation
|
Nova Scotia, Canada | 11.86% | ||
PT Newmont Minahasa Raya
|
Indonesia | 80% | ||
Silidor Mines Inc.
|
Quebec | 100% | ||
Newmont McCoy Cove Limited
|
Nevada, USA | 100% |
2
Name | State/Country of Incorporation | Ownership Percentage | ||
Newmont Nova Scotia ULC
|
Nova Scotia, Canada | 100% | ||
Newmont Canada Corporation
|
Nova Scotia, Canada | .98% | ||
Canmont Mining Properties Limited
|
Delaware, USA | 100% | ||
Newmont Altin Madencilik Limited Sirketi
|
Turkey | 1% | ||
Newmont Global Employment Limited Partnership
|
Bermuda | 1% | ||
Dawn Mining Company LLC
|
Delaware, USA | 51% | ||
Elko Land and Livestock Company
|
Nevada, USA | 100% | ||
G.F. Holdings B.V.
|
Netherlands | 100% | ||
Hospah Coal Company
|
Delaware | 100% | ||
Idarado Mining Company
|
Delaware, USA | 100% | ||
Idarado Legacy, LLC
|
Colorado, USA | 80% | ||
Minera El Bermejal S. de R.L. de C.V.
|
Mexico | 44% | ||
Minera Newmont (Chile) Limitada
|
Chile | 99% | ||
Minera Penmont S. de R.L. de C.V.
|
Mexico | 44% | ||
New Verde Mines LLC
|
Delaware, USA | 100% | ||
Newmont de Mexico S.A. de C.V.
|
Mexico | 99% | ||
Newmont Exploration of Canada Ltd.
|
Canada | 100% | ||
Newmont Global Employment Limited
|
Bermuda | 99% | ||
Newmont Gold Company
|
Delaware, USA | 100% | ||
Newmont GTR LLC
|
Nevada, USA | 100% | ||
Newmont Indonesia Investment Limited
|
Delaware, USA | 100% | ||
Newmont Indonesia Limited
|
Delaware, USA | 100% | ||
Nusa Tenggara Partnership
|
Netherlands | 56.25% | ||
PT Newmont Nusa Tenggara
|
Indonesia | 80% | ||
PT Investama Utama Indonesia
|
Indonesia | 49% | ||
PT Bhinneka Investama Indonesia
|
Indonesia | 27.56% | ||
PT Investama Utama Indonesia
|
Indonesia | 51% | ||
Newmont International Services Limited
|
Delaware, USA | 100% | ||
PT Newmont Pacific Nusantara
|
Indonesia | 1% | ||
Newmont Kazakhstan Gold Limited
|
Delaware, USA | 100% | ||
Newmont Latin America Limited
|
Delaware, USA | 100% | ||
Minera Los Tapados S.A.
|
Peru | .0144% | ||
Minera Newmont (Chile) Limitada
|
Chile | 1% | ||
Newmont de Mexico S.A. de C.V.
|
Mexico | 1% | ||
Newmont Midas Holdings Limited
|
Nevada, USA | 90.9% | ||
Newmont Midas Operations Inc.
|
Nevada, USA | 100% | ||
Newmont Nevada Energy Investment LLC
|
Delaware, USA | 100% | ||
Newmont NL Limited
|
Delaware, USA | 100% | ||
Newmont North America Exploration Limited
|
Delaware, USA | 100% | ||
Newmont Overseas Exploration Limited
|
Delaware, USA | 100% | ||
Newmont Altin Madencilik Limited Sirketi
|
Turkey | 99% | ||
PT Newmont Pacific Nusantara
|
Indonesia | 99% | ||
Suriname Gold Company, LLC
|
Delaware, USA | 50% | ||
Newmont Peru Limited
|
Delaware, USA | 100% | ||
Minera Chaupiloma Dos de Cajamarca S.R.L.
|
Peru | 40% | ||
Minera Los Tapados S.A.
|
Peru | 99.9856 | ||
Newmont Investment Holdings LLC
|
Delaware, USA | 100% | ||
Newmont Perú S.R.L.
|
Peru | .00026% | ||
Newmont Perú S.R.L.
|
Peru | 99.99974% | ||
Minera La Zanja S.R.L.
|
Peru | 46.9444% | ||
Newmont Realty Company
|
Delaware, USA | 100% | ||
Newmont Russia Limited
|
Delaware, USA | 100% | ||
Newmont Second Capital Corporation
|
Delaware, USA | 100% | ||
Minas Conga S.R.L.
|
Peru | 40% | ||
Minera Yanacocha S.R.L.
|
Peru | 51.35% |
3
Name | State/Country of Incorporation | Ownership Percentage | ||
Newmont Mines Limited
|
Delaware, USA | 100% | ||
Newmont Technologies Limited
|
Nevada, USA | 100% | ||
Newmont (Uzbekistan) Limited
|
Cyprus | 60% | ||
Resurrection Mining Company
|
Delaware, USA | 100% | ||
San Juan Basin Coal Holding Company
|
Delaware, USA | 100% | ||
Santa Fe Pacific Gold Corporation
|
Delaware, USA | 100% | ||
Yandal Bond Company Limited
|
Delaware, USA | 100% | ||
Newmont Holdings ULC
|
Nova Scotia, Canada | 100% | ||
Newmont Mining Corporation of Canada Limited
|
Canada | 100% | ||
Newmont Australia Limited
|
Western Australia | 16.18% | ||
Newmont Canada Corporation
|
Nova Scotia, Canada | 87.16% | ||
Newmont Capital Limited
|
Nevada, USA | 11.35% | ||
Newmont Mining B.C. Limited
|
British Columbia, Canada | 100% | ||
Miramar Mining Corporation
|
British Columbia, Canada | 78% | ||
Miramar Bathurst Resources Ltd.
|
British Columbia, Canada | 100% | ||
Miramar Gold Corporation
|
Nevada, USA | 100% | ||
Miramar Mining Canada Ltd.
|
British Columbia, Canada | 100% | ||
Miramar Northern Mining Ltd.
|
British Columbia, Canada | 100% | ||
Con Exploration Ltd.
|
British Columbia, Canada | 100% | ||
Hope Bay Mining Ltd.
|
British Columbia, Canada | 100% | ||
Miramar HBG Inc.
|
Quebec, Canada | 100% | ||
Miramar Resources Ltd.
|
British Columbia, Canada | 100% | ||
Orcana Resources Inc.
|
Nevada, USA | 100% | ||
Talapoosa Mining Corporation
|
British Columbia, Canada | 100% | ||
Talapoosa Mining Inc.
|
Nevada, USA | 100% | ||
688282 British Columbia Ltd.
|
British Columbia, Canada | 100% | ||
Vol Mines Ltd.
|
Ontario, Canada | 100% | ||
Newmont Insurance (Singapore) Pte Ltd
|
Singapore | 100% | ||
N.I. Limited
|
Bermuda | 93% | ||
Newmont LaSource SAS
|
France | 16.7001% | ||
Autin Investments BV
|
Netherlands | 100% | ||
Euronimba Ltd
|
Jersey, U.K. | 43.5% | ||
Societe Des Mines de Fer de Guinee
|
Guinea | 95% | ||
Gold Discovery Company
|
Cayman Islands | 55% | ||
Newmont Golden Ridge Limited
|
Ghana | 100% | ||
Newmont Ghana Gold Limited
|
Ghana | 100% | ||
Societe Miniere de Sabodala
|
Senegal | 50.6% | ||
Newmont Mineral Holdings B.V.
|
Netherlands | 100% | ||
European Gold Refineries Holding SA
|
Switzerland | 60.64% | ||
Finorafa S.A.
|
Switzerland | 100% | ||
Valcambi S.A.
|
Switzerland | 100% | ||
Newmont Nusa Tenggara Holdings B.V.
|
Netherlands | 100% | ||
Newmont Mining U.K. Limited
|
United Kingdom | 100% | ||
Newmont Ventures Limited
|
Delaware | 100% | ||
Newmont (Guyana) Incorporated
|
Guyana | 100% | ||
NVL (Guinée) SARL
|
Guinea | 100% | ||
Newmont Waihi Gold Limited
|
New Zealand | 100% | ||
Waihi Gold Company Limited
|
New Zealand | 100% | ||
Newmont (Uzbekistan) Limited
|
Cyprus | 40% | ||
Normandy Overseas Holding Company Sdn Bhd
|
Malaysia | 100% | ||
Normandy Company (Malaysia) Sdn Bhd
|
Malaysia | 100% | ||
Newmont International Group BV
|
Netherlands | 100% | ||
Newmont Latin America Inc.
|
Canada | 100% | ||
Newmont LaSource SAS
|
France | 66.3748% |
4
Signature | Title | |
/s/ Glen A. Barton
|
Director | |
Glen A. Barton
|
||
|
||
/s/ Vincent A. Calarco
|
Non-Executive Chairman | |
Vincent A. Calarco
|
||
|
||
/s/ Joseph A. Carrabba
|
Director | |
Joseph A. Carrabba
|
||
|
||
/s/ Noreen Doyle
|
Director | |
Noreen Doyle
|
||
|
||
/s/ Veronica M. Hagen
|
Director | |
Veronica M. Hagen
|
||
|
||
/s/ Michael S. Hamson
|
Director | |
Michael S. Hamson
|
Signature | Title | |
/s/ Robert J. Miller
|
Director | |
Robert J. Miller
|
||
|
||
/s/ Richard T. OBrien
|
Director, President and Chief Executive Officer
(Principal Executive Officer) |
|
|
||
/s/ John B. Prescott
|
Director | |
John B. Prescott
|
||
|
||
Donald C. Roth
|
Director | |
Donald C. Roth
|
||
|
||
/s/ James V. Taranik
|
Director | |
James V. Taranik
|
||
|
||
/s/ Simon Thompson
|
Director | |
Simon Thompson
|
||
|
||
/s/ Russell D. Ball
|
Executive Vice President and Chief Financial Officer
(Principal Financial Officer) |
|
|
||
/s/ Roger Johnson
|
Vice President and Chief Accounting Officer
(Principal Accounting Officer) |
-2-
|
/s/
Richard T. OBrien
|
|||
|
Chief Executive Officer |
C-1
|
/s/
Russell. Ball
|
|||
|
Chief Financial Officer |
C-2
|
/s/
Richard T. OBrien
|
|||
|
Chief Executive Officer |
C-3
|
/s/
Russell Ball
|
|||
|
Chief Financial Officer |
C-4