Newmont (NEM) 10-Q 30 Apr 09 2009 Q1 Quarterly report Financial data

00 - Document and Entity Inform

00 - Document and Entity Information (USD $)
	3 Months Ended Mar. 31, 2009	Apr. 22, 2009	Jun. 30, 2008
Document and Entity Information [Abstract]
Entity Registrant Name	Newmont Mining Corporation
Entity Central Index Key	0001164727
Document Type	10-Q
Document Period End Date	2009-03-31
Amendment Flag	false
Amendment Description	N/A
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$23,670,310,860
Entity Common Stock, Shares Outstanding		478,974,794

01 - Consolidated Statements of

01 - Consolidated Statements of Income (USD $)
In Millions, except Per Share data	3 Months Ended Mar. 31, 2009		3 Months Ended Mar. 31, 2008
Revenues
Sales - gold, net	$1,391		$1,511
Sales - copper, net	161		432
Total revenues, net	1,552		1,943
Costs and expenses
Costs applicable to sales - gold	668	[1]	641	[1]
Costs applicable to sales - copper	85	[1]	150	[1]
Amortization	192		182
Accretion	9		8
Exploration	41		39
Advanced projects, research and development	31		30
General and administrative	39		29
Other expense, net	77		63
Total costs and expenses	1,142		1,142
Other income (expense)
Other income, net	9		15
Interest expense, net	(32)		(28)
Total other income (expense)	(23)		(13)
Income from continuing operations before income tax expense and other items	387		788
Income tax expense	(105)		(232)
Equity loss of affiliates	(5)		(5)
Income from continuing operations	277		551
Income from discontinued operations	0		6
Net income	277		557
Less: Net income attributable to noncontrolling interests	88		192
Net income attributable to Newmont stockholders	189		365
Net income attributable to Newmont stockholders
Continuing operations	189		359
Discontinued operations	0		6
Net income attributable to Newmont stockholders	$189		$365
Basic:
Continuing operations	0.4		0.8
Discontinued operations	$0		0.01
Income per common share, Basic	0.4		0.81
Diluted:
Continuing operations	0.4		0.79
Discontinued operations	$0		0.01
Income per common share, Diluted	0.4		0.8
Basic weighted-average common shares outstanding	472		453
Diluted weighted-average common shares outstanding	473		457
Cash dividends declared per common share	0.1		0.1
[1]Exclusive of Amortization and Accretion.

02 - Consolidated Balance Sheet

02 - Consolidated Balance Sheets (USD $)
In Millions	Mar. 31, 2009	Dec. 31, 2008
ASSETS
Cash and cash equivalents	$1,451	$435
Marketable securities and other short-term investments	13	12
Trade receivables	166	104
Accounts receivable	383	223
Inventories	475	519
Stockpiles and ore on leach pads	319	324
Deferred income tax assets	194	286
Other current assets	350	458
Current assets	3,351	2,361
Property, plant and mine development, net	10,194	10,132
Investments	753	655
Stockpiles and ore on leach pads	1,237	1,145
Deferred income tax assets	1,120	1,039
Other long-term assets	182	207
Goodwill	188	188
Total assets	17,025	15,727
LIABILITIES
Current portion of long-term debt	223	169
Accounts payable	276	412
Employee-related benefits	172	178
Income and mining taxes	98	58
Other current liabilities	802	779
Current liabilities	1,571	1,596
Long-term debt	2,749	3,072
Reclamation and remediation liabilities	717	716
Deferred income tax liabilities	1,124	1,051
Employee-related benefits	384	379
Other long-term liabilities	251	252
Total liabilities	6,796	7,066
STOCKHOLDERS' EQUITY
Common stock	766	709
Additional paid-in capital	8,024	6,831
Accumulated other comprehensive loss	(208)	(253)
Retained earnings	189	4
Total Newmont stockholders' equity	8,771	7,291
Noncontrolling interests	1,458	1,370
Total stockholders' equity	10,229	8,661
Total liabilities and stockholders' equity	$17,025	$15,727

03 - Consolidated Statements of

03 - Consolidated Statements of Cash Flows (USD $)
In Millions	3 Months Ended Mar. 31, 2009	3 Months Ended Mar. 31, 2008
Operating activities:
Net income	$277	$557
Adjustments to reconcile net income attributable to Newmont common stockholders to net cash from continuing operations:
Amortization	192	182
Income from discontinued operations	0	(6)
Accretion of accumulated reclamation obligations	12	10
Deferred income taxes	(19)	(51)
Write-down of investments	6	22
Stock based compensation and other benefits	14	11
Other operating adjustments and write-downs	35	23
Net change in operating assets and liabilities	(130)	(154)
Net cash provided from continuing operations	387	594
Net cash used in discontinued operations	0	(100)
Net cash provided from operations	387	494
Investing activities:
Additions to property, plant and mine development	(330)	(450)
Investments in marketable debt and equity securities	0	(3)
Acquisitions, net	(11)	(318)
Other	(13)	4
Net cash used in investing activities of continuing operations	(354)	(767)
Net cash used in investing activities of discontinued operations	0	(3)
Net cash used in investing activities	(354)	(770)
Financing activities:
Proceeds from debt, net	1,369	572
Repayment of debt	(1,590)	(376)
Dividends paid to common stockholders	(49)	(45)
Dividends paid to noncontrolling interests	0	(98)
Proceeds from stock issuance, net	1,239	17
Change in restricted cash and other	13	1
Net cash provided from financing activities	982	71
Effect of exchange rate changes on cash	1	(12)
Net change in cash and cash equivalents	1,016	(217)
Cash and cash equivalents at beginning of period	435	1,231
Cash and cash equivalents at end of period	$1,451	$1,014

0601 - Basis of Presentation

0601 - Basis of Presentation
	3 Months Ended Mar. 31, 2009 USD / shares
Basis of Presentation [Abstract]
BASIS OF PRESENTATION	NOTE 1 BASIS OF PRESENTATION The interim Consolidated Financial Statements (interim statements) of Newmont Mining Corporation and its subsidiaries (collectively, Newmont or the Company) are unaudited. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year. These interim statements should be read in conjunction with Newmonts Consolidated Financial Statements included in its Annual Report on Form 10-K for the year ended December31, 2008, filed February19, 2009. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. generally accepted accounting principles (GAAP). Certain amounts for the three months ended March31, 2008 and at December31, 2008 have been revised. The adjustments are of a normal recurring nature except as discussed below. The Company retrospectively adopted FSP No.APB 14-1, Accounting for Convertible Debt Instruments That May be Settled in Cash upon Conversion (Including Partial Cash Settlement) (FSP APB 14-1), which requires an allocation of convertible debt proceeds between the liability component and the embedded conversion option (i.e., the equity component) (see Note 2). Additionally, the Company adopted FASB Statement No.160, Noncontrolling Interests in Consolidated Financial Statements an amendment of ARB No.51 (FAS 160), which requires the noncontrolling interests to be classified as a separate component of net income and stockholders equity. References to A$ refer to Australian currency, C$ to Canadian currency, IDR to Indonesian currency, NZ$ to New Zealand currency and $ to United States currency.

0602 - Summary of Significant A

0602 - Summary of Significant Accounting Policies
	3 Months Ended Mar. 31, 2009 USD / shares
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Recently Adopted Accounting Pronouncements Post-Retirement Benefit Plan In December2008, the Financial Accounting Standards Board (FASB) issued FSP No.FAS 132(R)-1, Employers Disclosures about Post-Retirement Benefit Plan Assets (FSP FAS 132(R)-1), which amends FASB Statement No.132 Employers Disclosures about Pensions and Other Post-Retirement Benefits (FAS 132), to provide guidance on an employers disclosures about plan assets of a defined benefit pension or other post-retirement plan. The objective of FSP FAS 132(R)-1 is to require more detailed disclosures about employers plan assets, including employers investment strategies, major categories of plan assets, concentrations of risk within plan assets, and valuation techniques used to measure the fair value of plan assets. The Company adopted the provisions of FSP FAS 132(R)-1 on January1, 2009. The provisions of this FSP are not required for earlier periods that are presented for comparative purposes. Equity Method Investment In November2008, the Emerging Issues Task Force (EITF) reached consensus on Issue No.08-6, Equity Method Investment Accounting Considerations (EITF 08-6), which clarifies the accounting for certain transactions and impairment considerations involving equity method investments. The intent of EITF 08-6 is to provide guidance on (i)determining the initial measurement of an equity method investment, (ii)recognizing other-than-temporary impairments of an equity method investment and (iii)accounting for an equity method investees issuance of shares. EITF 08-6 was effective for the Companys fiscal year beginning January1, 2009 and has been applied prospectively. The adoption of EITF 08-6 had no impact on the Companys consolidated financial position or results of operations. Equity-Linked Financial Instruments In June2008, the EITF reached consensus on Issue No.07-5, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entitys Own Stock (EITF 07-5). EITF 07-5 clarifies the determination of whether an instrument (or an embedded feature) is indexed to an entitys own stock, which would qualify as a scope exception under FASB Statement No.133, Accounting for Derivative Instruments and Hedging Activities (FAS 133). EITF 07-5 was effective for the Companys fiscal year beginning January1, 2009. The adoption of EITF 07-5 had no impact on the Companys consolidated financial position or results of operations. Accounting for Convertible Debt Instruments In May2008, the FASB issued FSP No.APB 14-1. FSP APB 14-1 applies to convertible debt instruments that, by their stated terms, may be settled in cash (or other assets) upon conversion, including partial cash settlement, unless the embedded conversion option is required to be separately accounted for as a derivative under FASB Statement No.133, Accounting for Derivative Instruments and Hedging Activities (FAS 133). FSP APB 14-1 requires that the liability and equity components of convertible debt instruments within the scope of FSP APB 14-1 be separately accounted for in a manner that reflects the entitys nonconvertible debt borrowing rat

0603 - Advanced Projects, Resea

0603 - Advanced Projects, Research and Develpoment
	3 Months Ended Mar. 31, 2009 USD / shares
Advanced Projects Research And Development [Abstract]
ADVANCED PROJECTS, RESEARCH AND DEVELOPMENT	NOTE 3 ADVANCED PROJECTS, RESEARCH AND DEVELOPMENT Three Months Ended March 31, 2009 2008 Hope Bay $ 5 $ 5 Technical and project services 5 4 Nevada underground 5 Boddington 3 1 Callie Deeps 2 Fort a la Corne JV 1 7 Akyem 1 2 Other 9 11 $ 31 $ 30

0604 - Other Expense, Net

0604 - Other Expense, Net
	3 Months Ended Mar. 31, 2009 USD / shares
Other Expense, Net [Abstract]
OTHER EXPENSE, NET	NOTE 4 OTHER EXPENSE, NET Three Months Ended March 31, 2009 2008 Workforce reduction $ 14 $ Regional administration 12 9 Community development 10 14 Boddington acquisition costs (Note 14) 8 Peruvian royalty 6 7 Batu Hijau divestiture 5 3 Western Australia power plant 3 5 World Gold Council dues 3 3 Accretion, non-operating (Note 23) 3 2 Pension settlement loss (Note 6) 11 Reclamation estimate revisions (Note 23) 2 Other 13 7 $ 77 $ 63

0605 - Other Income, Net

0605 - Other Income, Net
	3 Months Ended Mar. 31, 2009 USD / shares
Other Income, Net [Abstract]
OTHER INCOME, NET	NOTE 5 OTHER INCOME, NET Three Months Ended March 31, 2009 2008 Canadian Oil Sands Trust income $ 4 $ 24 Interest income 3 10 Gain on asset sales, net 1 4 Gain on ineffective portion of derivative instruments, net (Note 16) 3 Foreign currency exchange losses, net (3 ) (6 ) Write-down of investments (Note 17) (6 ) (22 ) Other 10 2 $ 9 $ 15

0606 - Employee Pension and Oth

0606 - Employee Pension and Other Benefit Plans
	3 Months Ended Mar. 31, 2009 USD / shares
Employee Pension and Other Benefit Plans [Abstract]
EMPLOYEE PENSION AND OTHER BENEFIT PLANS	NOTE 6 EMPLOYEE PENSION AND OTHER BENEFIT PLANS Three Months Ended March 31, 2009 2008 Pension benefit costs, net Service cost $ 5 $ 4 Interest cost 8 7 Expected return on plan assets (7 ) (7 ) Amortization of loss 3 1 $ 9 $ 5 Three Months Ended March 31, 2009 2008 Other benefit costs, net Service cost $ 1 $ Interest cost 1 1 $ 2 $ 1 For the three months ended March31, 2009 and 2008, pension settlement losses of $nil and $11, respectively, related to senior management retirements were incurred. These costs were recorded in Other expense, net (see Note 4).

0607 - Stock Based Compensation

0607 - Stock Based Compensation
	3 Months Ended Mar. 31, 2009 USD / shares
Stock Based Compensation [Abstract]
STOCK BASED COMPENSATION	NOTE 7 STOCK BASED COMPENSATION The Company recognized stock option and other stock based compensation as follows: Three Months Ended March 31, 2009 2008 Stock options $ 3 $ 3 Restricted stock 2 2 Restricted stock units 1 Deferred stock awards 3 2 $ 9 $ 7 No stock option awards were granted during the three months ended March31, 2009 and 2008. At March31, 2009, there was $15 of unrecognized compensation cost related to unvested stock options. This cost is expected to be recognized on a weighted-average basis for a period of approximately 2.2years. No restricted stock awards were granted during the three months ended March31, 2009. For the three months ended March31, 2008, 107,920 shares of restricted stock were granted and issued, at the weighted-average fair market value of $49, per underlying share of the Companys common stock. For the three months ended March31, 2009 and 2008, 292,216 and 5,072 shares of restricted stock units, respectively, were granted, at the weighted-average fair market value of $43 and $49, respectively, per underlying share of the Companys common stock. No deferred stock awards were granted during the three months ended March31, 2009 and 2008.

0608 - Income Taxes

0608 - Income Taxes
	3 Months Ended Mar. 31, 2009 USD / shares
Income Taxes [Abstract]
INCOME TAXES	NOTE 8 INCOME TAXES The Company operates in numerous countries around the world and accordingly it is subject to, and pays annual income taxes under, the various income tax regimes in the countries in which it operates. Some of these tax regimes are defined by contractual agreements with the local government, and others are defined by the general corporate income tax laws of the country. The Company has historically filed, and continues to file, all required income tax returns and paid the taxes reasonably determined to be due. The tax rules and regulations in many countries are highly complex and subject to interpretation. From time to time, the Company is subject to a review of its historic income tax filings and in connection with such reviews, disputes can arise with the taxing authorities over the interpretation or application of certain rules to the Companys business conducted within the country involved. At March31, 2009, the Companys total unrecognized tax benefit was $173 for uncertain tax positions taken or expected to be taken on tax returns. Of this, $124 represents the amount of unrecognized tax benefits that, if recognized, would affect the Companys effective income tax rate. Also included in the balance at March31, 2009 are $11 of tax positions that, due to the impact of deferred tax accounting, the disallowance of which would not affect the annual effective tax rate. As a result of (i)statute of limitations that will begin to expire within the next 12months in various jurisdictions, and (ii)possible settlements of audit-related issues with taxing authorities in various jurisdictions with respect to which none of the issues are individually significant, the Company believes that it is reasonably possible that the total amount of its net unrecognized income tax benefits will decrease by approximately $3 to $5 in the next 12months.

0609 - Discontinued Operations

0609 - Discontinued Operations
	3 Months Ended Mar. 31, 2009 USD / shares
Discontinued Operations [Abstract]
DISCONTINUED OPERATIONS	NOTE 9 DISCONTINUED OPERATIONS Discontinued operations include the Companys royalty portfolio and Pajingo operations, both sold in December2007. During the first quarter of 2008, the Company recognized a $7 gain primarily related to additional royalty portfolio revenue in excess of the 2007 estimate and a $2 gain related to additional Pajingo asset sales. During the first quarter of 2008, the Company received $5 in cash and $5 in marketable securities related to the Pajingo asset sales. The following table details selected financial information included in the Income from discontinued operations in the consolidated statements of income: Three Months Ended March 31, 2008 Income from operations: Royalty portfolio $ 7 Gain on sale of Pajingo assets 2 Pre-tax income 9 Income tax expense (3 ) Income from discontinued operations $ 6 The following table details selected financial information included in Net cash used in discontinued operations and Net cash used in investing activities of discontinued operations: Three Months Ended March 31, 2008 Net cash used in discontinued operations: Income from discontinued operations $ 6 Decrease in net operating liabilities (106 ) $ (100 ) Net cash used in investing activities of discontinued operations: Proceeds from asset sales, net $ (3 )

0610 - Non Controlling Interest

0610 - Non Controlling Interests
	3 Months Ended Mar. 31, 2009 USD / shares
Noncontrolling Interests [Abstract]
NONCONTROLLING INTERESTS	NOTE 10 NONCONTROLLING INTERESTS Three Months Ended March 31, 2009 2008 Yanacocha $ 67 $ 91 Batu Hijau 21 101 $ 88 $ 192 Newmont currently has a 45% ownership interest in the Batu Hijau mine, held through the Nusa Tenggara Partnership (NTP) with an affiliate of Sumitomo Corporation of Japan (Sumitomo). Newmont has a 56.25% interest in NTP and the Sumitomo affiliate holds the remaining 43.75%. NTP in turn owns 80% of P.T. Newmont Nusa Tenggara (PTNNT), the Indonesian subsidiary that operates the Batu Hijau mine. Newmont identified NTP as a Variable Interest Entity as a result of certain capital structures and contractual relationships and has fully consolidated Batu Hijau in its consolidated financial statements since January1, 2004. The remaining 20% interest in PTNNT is owned by P.T. Pukuafu Indah (PTPI), an unrelated Indonesian company. NTPs interest in PTNNT is the subject of an international arbitration proceeding and a final award concerning PTNNTs interest was issued by the arbitration panel on March31, 2009. For further information concerning the arbitral award, see Note 27. Newmont has a 51.35% ownership interest in the Yanacocha mine with the remaining interests held by Compaia de Minas Buenaventura, S.A.A. (43.65%) and the International Finance Corporation (5%).

0611 - Income Per Common Share

0611 - Income Per Common Share
	3 Months Ended Mar. 31, 2009 USD / shares
Income Per Common Share [Abstract]
INCOME PER COMMON SHARE	NOTE 11 INCOME PER COMMON SHARE Basic income per common share is computed by dividing income available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted income per common share is computed similarly to basic income per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares had been issued. Three Months Ended March 31, 2009 2008 Numerator: Net income attributable to Newmont stockholders Continuing operations $ 189 $ 359 Discontinued operations 6 $ 189 $ 365 Denominator: Basic 472 453 Effect of employee stock based awards 1 4 Diluted 473 457 Net income attributable to Newmont stockholders per common share Basic: Continuing operations $ 0.40 $ 0.80 Discontinued operations 0.01 $ 0.40 $ 0.81 Diluted: Continuing operations $ 0.40 $ 0.79 Discontinued operations 0.01 $ 0.40 $ 0.80 In February2009, the Company completed a public offering of 34,500,000 shares of common stock for net proceeds of $1,236. Options to purchase 4.6million and 1.2million shares of common stock at average exercise prices of $47.16 and $54.73 were outstanding at March31, 2009 and 2008, respectively, but were not included in the computation of diluted weighted average number of common shares because the strike prices of the options exceeded the price of the common stock. In July2007 and February2009, Newmont issued $1,150 and $518, respectively, of convertible notes that, if converted in the future, would have a potentially dilutive effect on the Companys stock. Under the indenture for the convertible notes, upon conversion Newmont is required to settle the principal amount of the convertible notes in cash and may elect to settle the remaining conversion obligation (stock price in excess of the conversion price) in cash, shares or a combination thereof. The effect on diluted earnings per share is calculated under the net share settlement method in accordance with the FASBs EITF Issue No.04-8, The Effect of Contingently Convertible Instruments on Diluted Earnings per Share. Under the net share settlement method, the Company includes the amount of shares it would take to satisfy the conversion obligation, assuming that all of the convertible notes are surrendered. The average closing price of the Companys common stock for each of the periods presented is used as the basis for determining dilution. The average price of the Companys common stock for all periods presented did not exceed the conversion price of $46.25 and $46.21 for the notes issued in 2009 and 2007, and therefore, did not have a dilutive effect on earnings per share. In connection with the 2007 convertible senior notes offering,

0612 - Comprehensive Income

0612 - Comprehensive Income
	3 Months Ended Mar. 31, 2009 USD / shares
Comprehensive Income [Abstract]
COMPREHENSIVE INCOME	NOTE 12 COMPREHENSIVE INCOME Three Months Ended March 31, 2009 2008 Net income $ 277 $ 557 Other comprehensive income (loss), net of tax: Unrealized gain on marketable securities 93 35 Foreign currency translation adjustments (47 ) (76 ) Change in pension and other benefit liabilities: Net amount reclassified to income 1 7 Change in fair value of cash flow hedge instruments: Net change from periodic revaluations (19 ) 17 Net amount reclassified to income 17 (3 ) Net unrecognized (loss)gain on derivatives (2 ) 14 45 (20 ) Comprehensive income $ 322 $ 537 Comprehensive income attributable to: Newmont stockholders $ 234 $ 345 Noncontrolling interests 88 192 $ 322 $ 537

0613 - Changes In Stockholders

0613 - Changes In Stockholders Equity
	1/1/2009 - 3/31/2009 USD / shares
Changes In Stockholders' Equity [Abstract]
CHANGES IN STOCKHOLDERS' EQUITY	NOTE 13 CHANGES IN STOCKHOLDERS EQUITY Three Months Ended March 31, 2009 2008 Common stock: At beginning of period $ 709 $ 696 Common stock offering 55 Stock based compensation 1 1 Shares issued in exchange for exchangeable shares 1 1 At end of period 766 698 Additional paid-in capital: At beginning of period 6,831 6,916 Common stock offering 1,179 Convertible debt issuance 46 Common stock dividends (45 ) (45 ) Stock based compensation 14 28 Shares issued in exchange for exchangeable shares (1 ) (2 ) At end of period 8,024 6,897 Accumulated other comprehensive (loss)income: At beginning of period (253 ) 957 Other comprehensive (loss)income (Note 12) 45 (20 ) At end of period (208 ) 937 Retained earnings: At beginning of period 4 (809 ) Net income attributable to Newmont stockholders 189 370 Adoption of FSP ABP 14-1 (5 ) Common stock dividends (4 ) At end of period 189 (444 ) Noncontrolling interests: At beginning of period 1,370 1,449 Net income attributable to noncontrolling interests 88 192 Dividends paid to noncontrolling interests (98 ) Acquisition of noncontrolling interest in Miramar Mining Corporation (40 ) At end of period 1,458 1,503 Total stockholders equity $ 10,229 $ 9,591

0614 - Acquisitions

0614 - Acquisitions
	3 Months Ended Mar. 31, 2009 USD / shares
Acquisitions [Abstract]
ACQUISITIONS	NOTE 14 ACQUISITIONS On January27, 2009, the Company entered into a definitive sale and purchase agreement with AngloGold Ashanti Australia Limited (AngloGold) to acquire its 33.33% interest in the Boddington project in Western Australia. Upon expected completion of the acquisition in the second quarter, subject to satisfaction or waiver of certain conditions and approvals, Newmont will own 100% of the project. Consideration for the acquisition consists of $750 payable in cash at closing, $240 payable in cash and/or Newmont common stock, at the Companys option, in December2009, and a contingent payment capped at $100, equal to 50% of the average realized operating margin (if any) exceeding $600 per ounce, payable on one-third of gold sales from Boddington. Newmont will also reimburse all capital expenditures funded by AngloGold from January1, 2009 through the closing date. During the first quarter of 2009, we expensed $8 in acquisition costs, and expect to incur an additional $55-$60 in the second quarter of 2009, primarily related to transfer taxes. In the first quarter of 2009, La Herradura (of which Newmont owns 44%) purchased a mining property near its Mexico operation for cash consideration of $11 (Newmonts 44% share). In December2007, the Company purchased approximately 70% of the common shares of Miramar Mining Corporation (Miramar), which, in addition to the shares previously owned, brought the Companys interest in Miramar to approximately 78%. During the first quarter of 2008, the Company completed the acquisition of 100% of Miramar. All shares were purchased for C$6.25 per share in cash.

0615 - Fair Value Accounting

0615 - Fair Value Accounting
	3 Months Ended Mar. 31, 2009 USD / shares
Fair Value Accounting [Abstract]
FAIR VALUE ACCOUNTING	NOTE 15 FAIR VALUE ACCOUNTING FAS 157 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FAS 157 are described below: 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). The following table sets forth the Companys assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. As required by FAS 157, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value at March 31, 2009 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 833 $ 833 $ $ Marketable equity securities 717 717 Corporate marketable debt securities 4 4 Other marketable debt securities: Auction rate securities 4 4 Asset backed commercial paper 20 20 Trade receivable from provisional copper and gold concentrate sales, net 118 118 $ 1,696 $ 1,672 $ $ 24 Liabilities: Derivative instruments, net $ 99 $ $ 99 $ 8 5/8% debentures (hedged portion) 93 93 $ 192 $ $ 192 $ The Companys cash equivalent instruments are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash instruments that are valued based on quoted market prices in active markets are primarily money market securities and U.S. Treasury securities. The Companys marketable equity securities are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the marketable equity securities is calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company. The Companys corporate marketable debt securities are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The Companys other marketable debt securities include investments in auc

0616 - Derivative Instruments

0616 - Derivative Instruments
	3 Months Ended Mar. 31, 2009 USD / shares
Derivative Instruments [Abstract]
DERIVATIVE INSTRUMENTS	NOTE 16 DERIVATIVE INSTRUMENTS The Company is exposed to certain financial and market risks relating to its ongoing business operations. The primary risks managed by using derivative instruments are foreign currency exchange risk, diesel price risk, and interest rate risk. In accordance with FAS 133, the Company designated currency fixed forward and option contracts as cash flow hedges, diesel forward contracts as cash flow hedges, and interest rate swap contracts as fair value hedges of a fixed-rate borrowing. All of the derivative instruments were transacted for risk management purposes and qualify as hedging instruments under FAS 133. The maximum period over which hedged forecasted transactions are expected to occur is three years. Cash Flow Hedges Foreign Currency Contracts Newmont entered into a series of foreign currency contracts to reduce the variability of the US dollar amount of forecasted foreign currency expenditures caused by changes in currency rates. Newmont entered into IDR/$ forward purchase contracts to hedge up to 80% of the Companys IDR denominated operating expenditures which results in a blended IDR/$ rate realized each period. The hedges are forward purchase contracts with expiration dates ranging up to one year from the date of issue. The principal hedging objective is reduction in the volatility of realized period-on-period IDR/$ rates. For the three months ended March31, 2009 and 2008, the IDR/$ forward purchase contracts increased Batu Hijau Costs applicable to sales by $2 and reduced Batu Hijau Costs applicable to sales by $1, respectively. As of March31, 2009, the Company has hedged 23% of its expected remaining 2009 IDR operating expenditures. Newmont implemented a multi-year systematic, disciplined layered program to hedge up to 85% of the Companys A$ denominated operating expenditures with forward contracts that have expiration dates ranging up to three years from the date of issue. The principal hedging objective is reduction in the volatility of realized period-on-period $/A$ rates. Each month, fixed forward contracts are obtained to hedge 1/36th of the forecasted monthly A$ operating cost exposure in the rolling three-year hedge period resulting in a blended $/A$ rate realized. For the three months ended March31, 2009 and 2008, the A$ operating hedge program increased Australia/New Zealand Costs applicable to sales by $16 and reduced Australia/New Zealand Costs applicable to sales by $1, respectively. As of March 31, 2009, the Company has hedged 63% of its expected remaining 2009 A$ operating expenditures, and 42%, 18% and 6% of its expected 2010, 2011 and 2012 A$ operating expenditures, respectively. Newmont implemented a multi-year systematic, disciplined layered program to hedge up to 75% of the Companys NZ$ denominated operating expenditures with forward contracts that have expiration dates ranging up to two years from the date of issue. The principal hedging objective is reduction in the volatility of realized period-on-period $/NZ$ rates. Each month, fixed forward contracts are obtained to hedge 1/24th of the forecasted monthly NZ$ operating cost exposure in the rolling two-year h

0617 - Investments

0617 - Investments
	3 Months Ended Mar. 31, 2009 USD / shares
Investments Disclosure [Abstract]
INVESTMENTS	NOTE 17 INVESTMENTS At March 31, 2009 Cost/Equity Unrealized Fair/Equity Basis Gain Loss Basis Current: Marketable Equity Securities $ 11 $ 3 $ (1 ) $ 13 Long-term: Marketable Debt Securities: Asset backed securities $ 24 $ $ (4 ) $ 20 Auction rate securities 7 (3 ) 4 Other 4 4 35 (7 ) 28 Marketable Equity Securities: Canadian Oil Sands Trust 243 352 595 Gabriel Resources Ltd. 62 35 97 Shore Gold Inc. 4 4 Other 7 1 8 316 388 704 Other investments, at cost 7 7 Investment in Affiliates: AGR Matthey Joint Venture 14 14 $ 372 $ 388 $ (7 ) $ 753 At December 31, 2008 Cost/Equity Unrealized Fair/Equity Basis Gain Loss Basis Current: Marketable Equity Securities $ 14 $ 1 $ (3 ) $ 12 Long-term: Marketable Debt Securities: Asset backed securities $ 25 $ $ (3 ) $ 22 Auction rate securities 7 (2 ) 5 32 (5 ) 27 Marketable Equity Securities: Canadian Oil Sands Trust 251 283 534 Gabriel Resources Ltd. 64 64 Shore Gold Inc. 6 6 Other 8 (3 ) 5 329 283 (3 ) 609 Other investments, at cost 7 7 Investment in Affiliates: AGR Matthey Joint Venture 12 12 $ 380 $ 283 $ (8 ) $ 655 During the first quarter of 2009, the Company recognized impairments for other-than temporary declines in value of $2 for Shore Gold Inc. and $4 for other marketable equity securities. During the first quarter of 2008, the Company recognized impairments for other-than temporary declines in value of $13 for Gabriel Resources Ltd. and $9 for Shore Gold Inc. The following tables present the gross unrealized losses and fair value of the Companys investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by length of time that the individual securities have been in a continuous unrealized loss position: Less than 12 Months 12 Months or Greater Total Unrealized Unrealized Unrealized

0618 - Inventories

0618 - Inventories
	3 Months Ended Mar. 31, 2009 USD / shares
Inventories [Abstract]
INVENTORIES	NOTE 18 INVENTORIES At March 31, At December 31, 2009 2008 In-process $ 54 $ 53 Concentrate 10 54 Precious metals 37 24 Materials, supplies and other 374 388 $ 475 $ 519 During the first three months of 2009, the Company recorded aggregate write-downs of $1 to reduce the carrying value of material and supplies inventories to net realizable value, primarily related to Kori Kollo (South America). Inventory write-downs are classified as components of Costs applicable to sales.

0619 - Stockpiles and Ore on Le

0619 - Stockpiles and Ore on Leach Pads
	3 Months Ended Mar. 31, 2009 USD / shares
Stockpiles and Ore on Leach Pads [Abstract]
STOCKPILES AND ORE ON LEACH PADS	NOTE 19 STOCKPILES AND ORE ON LEACH PADS At March 31, At December 31, 2009 2008 Current: Stockpiles $ 109 $ 120 Ore on leach pads 210 204 $ 319 $ 324 Long-term: Stockpiles $ 951 $ 873 Ore on leach pads 286 272 $ 1,237 $ 1,145 During the first three months of 2009, the Company recorded aggregate write-downs of $3 to reduce the carrying value of leach pads to net realizable value, related to Kori Kollo (South America). Stockpile and ore on leach pads write-downs are classified as components of Costs applicable to sales.

0620 - Other Assets

0620 - Other Assets
	3 Months Ended Mar. 31, 2009 USD / shares
Other Assets [Abstract]
OTHER ASSETS	NOTE 20 OTHER ASSETS At March 31, At December 31, 2009 2008 Other current assets: Refinery metal inventory and receivable $ 220 $ 168 Other prepaid assets 52 43 Prepaid income and mining taxes 18 187 Notes receivable 9 9 Derivative instruments (Note 16) 8 6 Other 43 45 $ 350 $ 458 Other long-term assets: Debt issuance costs $ 39 $ 29 Restricted cash 20 33 Prepaid royalties 19 19 Corporate-owned life insurance 18 26 Other receivables 17 17 Derivative instruments (Note 16) 10 8 Prepaid maintenance costs 6 13 Other 53 62 $ 182 $ 207

0621 - Debt

0621 - Debt
	3 Months Ended Mar. 31, 2009 USD / shares
Debt [Abstract]
DEBT	NOTE 21 DEBT At March 31, 2009 At December 31, 2008 Current Non-Current Current Non-Current Sale-leaseback of refractory ore treatment plant $ 24 $ 164 $ 24 $ 188 8 5/8% debentures, net of discount (due 2011) 216 214 Corporate revolving credit facility (due 2012) 757 2012 convertible senior notes 446 2014 convertible senior notes 453 448 2017 convertible senior notes 405 401 5 7/8% notes, net of discount (due 2035) 597 597 PTNNT project financing facility 87 219 87 219 PTNNT shareholder loans 72 18 Yanacocha credit facility 14 59 14 62 Yanacocha bonds 100 100 Ahafo project facility 10 75 9 66 Other project financings and capital leases 16 15 17 20 $ 223 $ 2,749 $ 169 $ 3,072 During the first quarter of 2009, the Company repaid all borrowings under its $2,000 revolving credit facility and completed a public offering of $518 convertible senior notes maturing on February15, 2012 for net proceeds of $504. The notes will pay interest semi-annually at a rate of 3.0% per annum. As a result of adopting FSP APB 14-1, the effective interest rate increased to 8.5%. The notes are convertible, at the holders option, equivalent to a conversion price of $46.25 per share of common stock. The portion of the proceeds ($74) related to the conversion feature has been recognized as additional paid-in capital. The Company retrospectively applied FSP APB 14-1 to the 2014 and 2017 convertible senior notes. During the first quarter of 2009, PTNNT shareholders loaned an additional $124 to PTNNT. Total principal outstanding under the shareholder loans was $165 and $41 as of March31, 2009 and December31, 2008, respectively. At March31, 2009 and December31, 2008, 43.75% or approximately $72 and $18, respectively, were due to Nusa Tenggara Mining Corporation, an affiliate of Sumitomo Mining Corporation, an unrelated third party, and was non-recourse to Newmont, with the remainder payable to Newmont. As discussed in Note 27, the Company has agreed to provide a joint and several guarantee for the payment of principle and interest amounts associated with the PTNNT project financing facility, which was non-recourse to Newmont at March 31, 2009. Scheduled minimum debt repayments at March31, 2009 are $192 for the remainder of 2009, $157 in 2010, $332 in 2011, $591 in 2012, $116 in 2013 and $1,584 thereafter.

0622 - Other Liabilities

0622 - Other Liabilities
	3 Months Ended Mar. 31, 2009 USD / shares
Other Liabilities [Abstract]
OTHER LIABILITIES	NOTE 22 OTHER LIABILITIES At March 31, At December 31, 2009 2008 Other current liabilities: Refinery metal payable $ 220 $ 168 Accrued operating costs 122 140 Accrued capital expenditures 127 107 Derivative instruments (Note 16) 81 111 Reclamation and remediation costs (Note 23) 60 64 Interest 45 35 Taxes other than income and mining 33 39 Royalties 32 28 Peruvian royalty 24 18 Deferred income tax 7 8 Other 51 61 $ 802 $ 779 Other long-term liabilities: Income and mining taxes $ 173 $ 167 Derivative instruments (Note 16) 36 43 Other 42 42 $ 251 $ 252

0623 - Reclamation and Remediat

0623 - Reclamation and Remediation Liabilities (Asset Retirement Obligations)
	3 Months Ended Mar. 31, 2009 USD / shares
Reclamation and Remediation Liabilities (Asset Retirement Obligations) [Abstract]
RECLAMATION AND REMEDIATION LIABILITIES (ASSET RETIREMENT OBLIGATIONS)	NOTE 23 RECLAMATION AND REMEDIATION LIABILITIES (ASSET RETIREMENT OBLIGATIONS) At March31, 2009 and December31, 2008, $620 and $617, respectively, were accrued for reclamation obligations relating to mineral properties in accordance with SFAS No.143, Accounting for Asset Retirement Obligations. In addition, the Company is involved in several matters concerning environmental obligations associated with former, primarily historic, mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved. At March31, 2009 and December31, 2008, $157 and $163, respectively, were accrued for such obligations. These amounts are also included in Reclamation and remediation liabilities. The following is a reconciliation of the liability for asset retirement obligations: Three Months Ended March 31, 2009 2008 Balance at beginning of period $ 780 $ 694 Additions, changes in estimates and other (1 ) Liabilities settled (14 ) (11 ) Accretion expense 12 10 Balance at end of period $ 777 $ 693 The current portions of Reclamation and remediation liabilities of $60 and $64 at March31, 2009 and December31, 2008, respectively, are included in Other current liabilities. The Companys reclamation and remediation expenses consisted of: Three Months Ended March 31, 2009 2008 Asset retirement cost amortization $ 7 $ 6 Accretion operating 9 8 Accretion non-operating (Note 4) 3 2 Reclamation estimate revisions non-operating (Note 4) 2 $ 19 $ 18

0624 - Net Change in Operating

0624 - Net Change in Operating Assets and Liabilities
	3 Months Ended Mar. 31, 2009 USD / shares
Net Change in Operating Assets and Liabilities [Abstract]
NET CHANGE IN OPERATING ASSETS AND LIABILITIES	NOTE 24 NET CHANGE IN OPERATING ASSETS AND LIABILITIES Net cash provided from operations attributable to the net change in operating assets and liabilities is composed of the following: Three Months Ended March 31, 2009 2008 Decrease (increase)in operating assets: Trade and accounts receivable $ 29 $ (98 ) Inventories, stockpiles and ore on leach pads (35 ) (4 ) EGR refinery assets (72 ) Other assets 3 (33 ) (Decrease) increase in operating liabilities: Accounts payable and other accrued liabilities (113 ) (8 ) EGR refinery liabilities 72 Reclamation liabilities (Note 23) (14 ) (11 ) $ (130 ) $ (154 )

0625 - Segment Information

0625 - Segment Information
	3 Months Ended Mar. 31, 2009 USD / shares
Segment Information [Abstract]
SEGMENT INFORMATION	NOTE 25 SEGMENT INFORMATION The Companys reportable segments are based upon the Companys management organization structure that is focused on the geographic region for the companys operations. Segment results for 2008 have been retrospectively revised to reflect an organizational change, effective in the first quarter of 2009, that (i)moved the results of the La Herradura operation in Mexico to North America from Other, (ii)moved the results of the Kori Kollo operation in Bolivia to South America from Other and (iii)combined the management of exploration and advanced projects activities under one executive and assigned the legacy exploration segment to the regional reportable segments. Financial information relating to Newmonts segments is as follows: Costs Advanced Applicable to Projects and Pre-Tax Capital Three Months Ended March 31, 2009 Sales Sales Amortization Exploration Income Total Assets Expenditures Nevada $ 468 $ 263 $ 61 $ 14 $ 121 $ 3,201 $ 58 Hope Bay 3 14 (17 ) 1,574 1 La Herradura 23 10 2 13 95 9 Other North America 2 North America 491 273 66 28 117 4,872 68 Yanacocha 427 152 41 4 204 2,023 39 Kori Kollo 16 14 1 68 Other South America 2 (2 ) 3 South America 443 166 42 6 202 2,094 39 Boddington 5 (8 ) 1,928 174 Other Australia/New Zealand 269 145 33 7 73 957 20 Batu Hijau: Gold 59 27 7 Copper 161 85 21 Total Batu Hijau 220 112 28 64 2,460 11 Other Asia Pacific 4 Asia Pacific 489 257 61 12 129 5,349 205 Africa 129 57 18 6 43 1,185 13 Corporate and Other 5 20 (104 ) 3,525 5 Consolidated $ 1,552 $ 753 $ 192 $ 72 $ 387 $ 17,025 $ 330 Costs Advanced

0626 - Consolidating Financial

0626 - Consolidating Financial Statements
	3 Months Ended Mar. 31, 2009 USD / shares
Consolidating Financial Statements [Abstract]
CONSOLIDATING FINANCIAL STATEMENTS	NOTE 26 CONSOLIDATING FINANCIAL STATEMENTS Newmont USA, a 100% owned subsidiary of Newmont Mining Corporation, has fully and unconditionally guaranteed the 5 7/8% publicly traded notes. The following consolidating financial statements are provided for Newmont USA, as guarantor, and for Newmont Mining Corporation, as issuer, as an alternative to providing separate financial statements for the guarantor. The accounts of Newmont Mining Corporation are presented using the equity method of accounting for investments in subsidiaries. Three Months Ended March 31, 2009 Newmont Newmont Mining Mining Newmont Other Corporation Consolidating Statement of Income Corporation USA Subsidiaries Eliminations Consolidated Revenues Sales gold, net $ $ 993 $ 398 $ $ 1,391 Sales copper, net 161 161 1,154 398 1,552 Costs and expenses Costs applicable to sales gold (1) 466 208 (6 ) 668 Costs applicable to sales copper (1) 85 85 Amortization 138 54 192 Accretion 7 2 9 Exploration 22 19 41 Advanced projects, research and development 18 14 (1 ) 31 General and administrative 30 2 7 39 Other 61 16 77 827 315 1,142 Other income (expense) Other income, net (4 ) 6 7 9 Interest income intercompany 32 2 (34 ) Interest expense intercompany (2 ) (32 ) 34 Interest expense, net (18 ) (13 ) (1 ) (32 ) 8 (5 ) (26 ) (23 ) Income (loss)from continuing operations before income tax expense and other items 8 322 57 387 Income tax expense (10 ) (83 ) (12 ) (105 ) Equity income (loss)of affiliates 191 1 26 (223 ) (5 ) Income (loss)from continuing operations 189 240 71 (223 ) 277 Income (loss)from discontinued operations Net income (loss) 189 240 71 (223 ) 277 Less: Net income (loss)attributable to noncontrolling interests 90 13 (15) 88 Net income (loss)attributable to Newmont stockholders $ 189 $ 150 $ 58 $ (208 ) $ 189 (1) Exclusive of Amortization and Accretion. Three Months Ended March 3

0627 - Commitments and Continge

0627 - Commitments and Contingencies
	3 Months Ended Mar. 31, 2009 USD / shares
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 27 COMMITMENTS AND CONTINGENCIES General The Company follows FASB Statement No.5, Accounting for Contingencies, in determining its accruals and disclosures with respect to loss contingencies other than tax contingencies provided for in accordance with FIN 48 (see Note 8). Accordingly, estimated losses from loss contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable (greater than a 75% probability) that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred. Operating Segments The Companys operating segments are identified in Note 25. Except as noted in this paragraph, all of the Companys commitments and contingencies specifically described in this Note 27 relate to the Corporate and Other reportable segment. The Nevada Operations matters under Newmont USA Limited relate to the North America reportable segment. The PT Newmont Minahasa Raya matters relate to the Asia Pacific reportable segment. The Yanacocha matters relate to the South America reportable segment. The Newmont Yandal Operations Pty Limited matter relates to the Asia Pacific reportable segment. The PTNNT matters relate to the Asia Pacific reportable segment. Environmental Matters The Companys mining and exploration activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations so as to protect the public health and environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation costs are based principally on legal and regulatory requirements. At March31, 2009 and December31, 2008, $620 and $617, respectively, were accrued for reclamation costs relating to mineral properties in accordance with FASB Statement No.143, Accounting for Asset Retirement Obligations. The current portions of $46 and $49 at March31, 2009 and December 31, 2008, respectively, are included in Other current liabilities. In addition, the Company is involved in several matters concerning environmental obligations associated with former mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved. The Company believes that the related environmental obligations associated with these sites are similar in nature with respect to the development of remediation plans, their risk profile and the compliance required to meet general environmental standards. Based upon the Companys best estimate o

0628 - Supplementary Data

0628 - Supplementary Data
	3 Months Ended Mar. 31, 2009 USD / shares
Supplementary Data [Abstract]
SUPPLEMENTARY DATA	NOTE 28 SUPPLEMENTARY DATA Ratio of Earnings to Fixed Charges The ratio of earnings to fixed charges for the three months ended March31, 2009 was 8.5. The ratio of earnings to fixed charges represents income from continuing operations before income tax expense, equity loss of affiliates and noncontrolling interests in subsidiaries, divided by interest expense. Interest expense includes amortization of capitalized interest and the portion of rent expense representative of interest. Interest expense does not include interest on income tax liabilities. The computation of the ratio of earnings to fixed charges can be found in Exhibit 12.1.