Newmont (NEM) 10-Q 2011 Q2 Quarterly report

Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratio)

	Six Months Ended
	June 30, 2011
Earnings:
Income before income and mining tax and other items(1)	$	1,820
Adjustments:
Fixed charges added to earnings		136
Amortization of capitalized interest		12
	$	1,968
Fixed Charges:
Net interest expense(2)	$	128
Portion of rental expense representative of interest		8
Fixed charges added to earnings		136
Capitalized interest		17
	$	153
Ratio of earnings to fixed charges		12.9

(1)	Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included inIncome and mining tax expense.
(2)	Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.