Newmont (NEM) 10-K 19 Feb 09 2008 FY Annual report Financial data

Consolidated Balance Sheets

Consolidated Balance Sheets (USD $)
In Millions, except Share data	Dec. 31, 2008	Dec. 31, 2007
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash and cash equivalents	$435	$1,231
Short-term Investments [Abstract]
Marketable securities and other short-term investments	12	61
Accounts Receivable, Net, Current [Abstract]
Trade receivables	104	177
Accounts receivable	223	168
Inventory, Net [Abstract]
Inventories	519	463
Prepaid Expense, Current [Abstract]
Stockpiles and ore on leach pads	324	373
Deferred income tax assets	286	112
Other current assets	458	87
Current assets	2,361	2,672
Property, Plant and Equipment, Net [Abstract]
Property, plant and mine development, net	10,132	9,140
Marketable Securities, Noncurrent [Abstract]
Investments	655	1,531
Accounts Receivable, Net, Noncurrent [Abstract]
Stockpiles and ore on leach pads	1,145	788
Assets Held-for-sale, Long Lived [Abstract]
Deferred income tax assets	1,145	1,027
Other long-term assets	213	230
Regulated Entity, Other Assets, Noncurrent [Abstract]
Goodwill	188	186
Assets of operations held for sale	0	24
Total assets	15,839	15,598
Accounts Payable and Accrued Liabilities [Abstract]
Current portion of long-term debt	169	255
Accounts payable	412	339
Employee-related benefits	178	153
Taxes Payable [Abstract]
Income and mining taxes	58	88
Other current liabilities	779	665
Current liabilities	1,596	1,500
Long-term Debt, Noncurrent [Abstract]
Long-term debt	3,373	2,683
Asset Retirement Obligations, Noncurrent [Abstract]
Reclamation and remediation liabilities	716	623
Customer Advances or Deposits, Noncurrent [Abstract]
Deferred income tax liabilities	1,051	1,025
Employee-related benefits	379	226
Other long-term liabilities	252	150
Liabilities of operations held for sale	0	394
Total liabilities	7,367	6,601
Minority Interest [Abstract]
Minority interest in subsidiaries	1,370	1,449
Stockholders' Equity [Abstract]
Common stock	709	696
Common stock, par value	1.6	1.6
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	443,000,000	435,000,000
Treasury stock, shares	264,000	304,000
Common stock, outstanding shares	443,000,000	435,000,000
Common stock, exchangeable shares issued	56,000,000	56,000,000
Common stock, exchangeable shares redeemed	44,000,000	38,000,000
Common stock, exchangeable shares outstanding	12,000,000	18,000,000
Additional Paid in Capital [Abstract]
Additional paid-in capital	6,639	6,696
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive (loss) income	(253)	957
Retained Earnings (Accumulated Deficit) [Abstract]
Retained earnings (deficit)	7	(801)
Total stockholders' equity	7,102	7,548
Total liabilities and stockholders' equity	$15,839	$15,598

Statements of Consolidated Inco

Statements of Consolidated Income (Loss) (USD $)
In Millions, except Per Share data	12 Months Ended Dec. 31, 2008		12 Months Ended Dec. 31, 2007		12 Months Ended Dec. 31, 2006
Revenue Mineral Sales [Abstract]
Sales - gold, net	$5,447		$4,305		$4,211
Sales - copper, net	752		1,221		671
Total revenues, net	6,199		5,526		4,882
Mineral Extraction Processing and Marketing Costs [Abstract]
Costs applicable to sales - gold	2,745	[2]	2,404	[2]	2,043	[2]
Costs applicable to sales - copper	399	[1]	450	[1]	292	[1]
Loss on settlement of price-capped forward sales contracts			531
Midas redevelopment			11
Depreciation and Amortization [Abstract]
Amortization	747		695		589
Accretion	32		29		27
Exploration	214		177		166
Advanced projects, research and development	166		62		81
General and administrative	144		142		136
Selling, General and Administrative Expense [Abstract]
Write-down of goodwill			1,122
Write-down of property, plant and mine development	137		10		3
Other expense, net	360		246		251
Total costs and expenses	4,944		5,879		3,588
Other Nonoperating Income (Expense) [Abstract]
Other income, net	123		106		53
Interest Expense [Abstract]
Interest expense, net of capitalized interest	(102)		(105)		(97)
Capitalized interest	47		50		57
Total other income (expense)	21		1		(44)
Income (loss) from continuing operations before income tax, minority interest and equity (loss) income of affiliates	1,276		(352)		1,250
Income Tax Expense (Benefit) [Abstract]
Income tax expense	(113)		(200)		(326)
Minority Interest in Net Income (Loss) of Consolidated Entities [Abstract]
Minority interest in income of consolidated subsidiaries	(329)		(410)		(363)
Income (Loss) from Discontinued Operations, Net of Tax [Abstract]
Equity (loss) income of affiliates	(5)		(1)		2
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax [Abstract]
Income (loss) from continuing operations	829		(963)		563
Income (loss) from discontinued operations	24		(923)		228
Net income (loss)	$853		($1,886)		$791
Income (Loss) before Extraordinary Items and Cumulative Effect of Change in Accounting Principle, Per Basic Share [Abstract]
Income (loss) from continuing operations per common share, basic	1.83		-2.13		1.25
Income (loss) from discontinued operations per common share, basic	0.05		-2.04		0.51
Net income (loss) per common share, basic	1.88		-4.17		1.76
Income (Loss) before Extraordinary Items and Cumulative Effect of Change in Accounting Principle, Per Diluted Share [Abstract]
Income (loss) from continuing operations per common share, diluted	1.82		-2.13		1.25
Income (loss) from discontinued operations per common share, diluted	0.05		-2.04		0.5
Net income (loss) per common share, diluted	1.87		-4.17		1.75
Earnings Per Share, Diluted, Other Disclosures [Abstract]
Basic weighted-average common shares outstanding	454		452		450
Diluted weighted-average common shares outstanding	455		452		452
Cash dividends declared per common share	0.4		0.4		0.4
[1]Exclusive of Amortization and Accretion.
[2]Exclusive of Loss on settlement of price-capped forward sales contracts, Midas redevelopment, Amortization and Accretion.

Statements of Consolidated Comp

Statements of Consolidated Comprehensive (Loss) Income (USD $)
In Millions	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007	12 Months Ended Dec. 31, 2006
Net Income (Loss) [Abstract]
Net income (loss)	$853	($1,886)	$791
Other Comprehensive Income (Loss), Tax [Abstract]
Unrealized (loss) gain on marketable securities, net of tax benefit (expense)	(573)	113	272
Tax benefit (expense) on unrealized (loss) gain on marketable securities	105	(19)	(49)
Other Comprehensive Income, Foreign Currency Transaction and Translation Adjustment, Net of Tax, Period Increase (Decrease) [Abstract]
Foreign currency translation adjustments	(387)	138	(14)
Other Comprehensive Income, Defined Benefit Plans Adjustment, Net of Tax, Period Increase (Decrease) [Abstract]
Tax benefit (expense) on change in pension liability	69	(18)	(9)
Net change from periodic valuations of pension liability	(139)	18	12
Net amount of pension liability reclassified to income	9	15	5
Net unrecognized loss on pension liability	(130)	33	17
Other Comprehensive Income, Derivatives Qualifying as Hedges, Net of Tax, Period Increase (Decrease) [Abstract]
Tax and minority interests benefit (expense)	53	(1)	(26)
Net change from periodic revaluations of cash flow hedge instruments	(125)	2	(177)
Net amount of cash flow hedge instruments reclassified to income	5	(2)	224
Net unrecognized (loss) gain on derivatives	(120)		47
Other comprehensive (loss) income	(1,210)	284	322
Comprehensive (loss) income	($357)	($1,602)	$1,113

Statement of Shareholders' Equi

Statement of Shareholders' Equity and Other Comprehensive Income (USD $)
In Millions	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)	Total
Beginning Balance at Dec. 31, 2005	$666	$6,578	$754	$378	$8,376
Shares, Beginning Balance at Dec. 31, 2005	448
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			791		791
Other comprehensive (loss) income				322	322
Adjustments to Additional Paid in Capital [Abstract]
Common stock dividends			(180)		(180)
Adoption of EITF 04-06			(81)		(81)
Adoption of FAS 158				(27)	(27)
Stock based compensation and related share issuances, value	5	131			136
Stock based compensation and related share issuances, shares	3
Shares issued in exchange for exchangeable shares	6	(6)
Other Comprehensive Income (Loss), Net of Tax, Period Increase (Decrease) [Abstract]
Ending Balance at Dec. 31, 2006	677	6,703	1,284	673	9,337
Shares, Ending Balance at Dec. 31, 2006	451
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			(1,886)		(1,886)
Other comprehensive (loss) income				284	284
Adjustments to Additional Paid in Capital [Abstract]
Common stock dividends		(90)	(91)		(181)
Adoption of FIN 48			(108)		(108)
Stock based compensation and related share issuances, value	4	88			92
Stock based compensation and related share issuances, shares	2
Shares issued in exchange for exchangeable shares	15	(15)
Warrants issued		248			248
Other Comprehensive Income (Loss), Net of Tax, Period Increase (Decrease) [Abstract]
Call options purchased, net of deferred tax assets		(238)			(238)
Call options purchased, deferred tax asset effect		128			128
Ending Balance at Dec. 31, 2007	696	6,696	(801)	957	7,548
Shares, Ending Balance at Dec. 31, 2007	453
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			853		853
Other comprehensive (loss) income				(1,210)	(1,210)
Adjustments to Additional Paid in Capital [Abstract]
Common stock dividends		(137)	(45)		(182)
Stock based compensation and related share issuances, value	2	91			93
Stock based compensation and related share issuances, shares	2
Shares issued in exchange for exchangeable shares	11	(11)
Other Comprehensive Income (Loss), Net of Tax, Period Increase (Decrease) [Abstract]
Ending Balance at Dec. 31, 2008	$709	$6,639	$7	($253)	$7,102
Shares, Ending Balance at Dec. 31, 2008	455

Statement of Consolidated Cash

Statement of Consolidated Cash Flows (USD $)
In Millions	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007	12 Months Ended Dec. 31, 2006
Income (Loss) from Continuing Operations [Abstract]
Net income (loss)	$853	($1,886)	$791
Adjustments to Reconcile to Income (Loss) from Continuing Operations [Abstract]
Amortization	747	695	589
Restructuring Costs [Abstract]
Minority interest in income of consolidated subsidiaries	329	410	363
Deferred income taxes	(300)	(152)	(127)
Asset Impairment Charges [Abstract]
Write-down of investments	114	46
Write-down of property, plant and mine development	137	10	3
Gain on asset sales, net	(72)	(16)	(19)
Environmental Expense and Liabilities [Abstract]
Reclamation estimate revisions	102	29	47
Stock based compensation and other benefits	50	46	50
Gain (Loss) on Sale of Property [Abstract]
Accretion of accumulated reclamation obligations	42	37	30
Income (loss) from discontinued operations	(24)	923	(228)
Hedge gain, net	(9)	(9)	(46)
Income (Loss) from Discontinued Operations, Net of Tax [Abstract]
Write-down of goodwill		1,122
Revenue from prepaid forward sales obligation			(48)
Other operating adjustments and write-downs	76	25	71
Increase (Decrease) in Operating Capital [Abstract]
Net change in operating assets and liabilities	(642)	(755)	(347)
Net cash provided from continuing operations	1,403	525	1,129
Net cash (used in) provided from discontinued operations	(111)	138	96
Net cash provided from operations	1,292	663	1,225
Payments to Acquire Productive Assets [Abstract]
Additions to property, plant and mine development	(1,875)	(1,672)	(1,537)
Proceeds from Sale and Maturity of Marketable Securities [Abstract]
Proceeds from sale of marketable debt and equity securities	50	224	2,216
Proceeds from Sale and Collection of Receivables [Abstract]
Investments in marketable debt and equity securities	(17)	(258)	(1,493)
Payments to Acquire Businesses, Net of Cash Acquired [Abstract]
Acquisitions, net	(325)	(953)	(348)
Payments to Acquire Interest in Subsidiaries and Affiliates [Abstract]
Cash received on repayment of Batu Hijau carried interest		161
Other	16	31	20
Net cash used in investing activities of continuing operations	(2,151)	(2,467)	(1,142)
Net cash (used in) provided from investing activities of discontinued operations	(6)	1,354	338
Net cash used in investing activities	(2,157)	(1,113)	(804)
Proceeds from Issuance of Long-term Debt [Abstract]
Proceeds from debt, net	5,078	3,008	198
Repayments of Long-term Debt [Abstract]
Repayment of debt	(4,487)	(2,036)	(111)
Payments for Repurchase of Equity [Abstract]
Dividends paid to minority interests	(389)	(270)	(264)
Dividends paid to common stockholders	(182)	(181)	(180)
Proceeds from stock issuance	29	51	78
Purchase of Company share call options		(366)
Issuance of Company share warrants		248
Early extinguishment of prepaid forward sales obligation			(48)
Change in restricted cash and other	74	11	(6)
Net cash provided from (used in) financing activities of continuing operations	123	465	(333)
Net cash used in financing activities of discontinued operations			(7)
Net cash provided from (used in) financing activities	123	465	(340)
Effect of Exchange Rate on Cash and Cash Equivalents [Abstract]
Effect of exchange rate changes on cash	(54)	50	3
Net change in cash and cash equivalents	(796)	65	84
Cash and cash equivalents at beginning of period	1,231	1,166	1,082
Cash and cash equivalents at end of period	$435	$1,231	$1,166

Notes To Consolidated Financial

Notes To Consolidated Financial Statements
	12 Months Ended Dec. 31, 2008 USD / shares
Financial Notes (Text Block)
THE COMPANY	NOTE1 THE COMPANY Newmont Mining Corporation and its affiliates and subsidiaries (collectively, Newmont or the Company) predominantly operate in a single industry, namely, exploration for and production of gold. The Companys sales result from operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, Bolivia, New Zealand and Mexico. The cash flow and profitability of the Companys operations are significantly affected by the market price of gold, and to a lesser extent, copper. The prices of gold and copper can fluctuate widely and are affected by numerous factors beyond the Companys control. References to A$ refers to Australian currency, C$ to Canadian currency, NZ$ to New Zealand currency, IDR to Indonesian currency and $ to United States currency.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The Companys Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of the Companys Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production amortization calculations; environmental, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpile and leach pad inventories; estimates of fair value for certain reporting units and asset impairments (including impairments of goodwill, long-lived assets and investments); write-downs of inventory, stockpiles and ore on leach pads to net realizable value; post employment, post-retirement and other employee benefit liabilities; valuation allowances for deferred tax assets; reserves for contingencies and litigation; and the fair value and accounting treatment of financial instruments including marketable securities and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from these estimates under different assumptions or conditions. Principles of Consolidation The Consolidated Financial Statements include the accounts of Newmont Mining Corporation and more-than-50%-owned subsidiaries that it controls and entities over which control is achieved through means other than voting rights. The Company also includes its pro-rata share of assets, liabilities and operations for unincorporated joint ventures in which it has an interest. All significant intercompany balances and transactions have been eliminated. The functional currency for the majority of the Companys operations, including the Australian operations, is the U.S.dollar. The functional currency of the Canadian operations is the Canadian dollar. The Company follows Financial Accounting Standards Board (FASB) Interpretation No.46(R) Consolidation of Variable Interest Entities (FIN46(R)), which provides guidance on the identification and reporting for entities over which control is achieved through means other than voting rights. FIN46(R) defines such entities as Variable Interest Entities (VIEs). Prior to May25, 2007, the Company considered PT Newmont Nusa Tenggara (PTNNT or Batu Hijau) a VIE since a minority interests 20% ownership in PTNNT was not obligated to absorb the expected losses of the entity. On May25, 2007, the minority partner fully repaid the loan (including accrued interest) and as a result, the Companys economic interest was
PRICE-CAPPED FORWARD SALES CONTRACTS	NOTE3 PRICE-CAPPED FORWARD SALES CONTRACTS In 2001, the Company entered into transactions that closed out certain call options. The options were replaced with a series of forward sales contracts requiring physical delivery of the same quantity of gold over slightly extended future periods. Under the terms of the contracts, the Company would realize the lower of the spot price on the delivery date or the capped price, ranging from $381 to $392 per ounce. The forward sales contracts were accounted for as normal sales contracts under FAS133 and FASB Statement No.138 Accounting for Certain Derivative Instruments and Certain Hedging Activities-an Amendment to FASB Statement No.133 (FAS138). The initial fair value of the forward sales contracts was recorded as deferred revenue, and the fair value of these contracts was not included on the Condensed Consolidated Balance Sheets. In June 2007, the Company paid $578 to settle all of the 1.85million ounce price-capped forward sales contracts. The Company reported a $531 pre-tax loss on the early settlement of the contracts, after a $47 reversal of previously recognized deferred revenue.
MIDAS REDEVELOPMENT	NOTE4 MIDAS REDEVELOPMENT In June 2007, a fatal accident occurred at the Midas mine in Nevada, which resulted in a temporary suspension of operations at the mine to initiate rescue and subsequent recovery efforts. As a result, the Mine Safety and Health Administration (MSHA) issued an order requiring operations to temporarily cease at the mine. During the third and fourth quarters of 2007, activities were undertaken, at the direction of MSHA, to regain entry into the mine in order to resume commercial production which restarted in October 2007. The redevelopment and holding costs of $11 in 2007 included access development, inspection, preventative repairs and road and mill maintenance.
ADVANCED PROJECTS, RESEARCH AND DEVELOPMENT	NOTE5 ADVANCED PROJECTS, RESEARCH AND DEVELOPMENT Years Ended December31, 2008 2007 2006 Hope Bay $ 39 $ $ Forta la Corne JV 26 Technical and project services 23 15 25 Euronimba 15 7 3 Akyem 7 6 15 Phoenix 6 7 10 Conga 4 3 6 Other 46 24 22 $ 166 $ 62 $ 81
OTHER EXPENSE, NET	NOTE6 OTHER EXPENSE, NET Years Ended December31, 2008 2007 2006 Reclamation estimate revisions (Note25) $ 102 $ 29 $ 47 Community development 65 58 55 Regional administration 48 38 38 Western Australia power plant 18 11 1 Peruvian royalty 18 10 22 Batu Hijau divestiture and arbitration 15 3 Pension settlement loss (Note22) 13 17 World Gold Council dues 11 11 13 Accretion, non-operating (Note25) 10 8 3 Provision for bad debts 9 1 Buyat Bay settlement and other (Note33) 3 12 22 Other 48 48 50 $ 360 $ 246 $ 251
OTHER INCOME, NET	NOTE7 OTHER INCOME, NET Years Ended December31, 2008 2007 2006 Canadian Oil Sands Trust income $ 110 $ 47 $ 30 Gain on sale of exploration property 32 Gain on sale of investments, net 30 Interest income 29 50 67 Income from development projects, net 12 3 19 Gain on other asset sales, net 10 16 19 Gain (loss) on ineffective portion of derivative instruments, net (Note14) 10 4 (60 ) Foreign currency exchange (losses) gains, net (12 ) 25 5 Write-down of investments (Note15) (114 ) (46 ) Loss on early retirement of debt (40 ) Other 16 7 13 $ 123 $ 106 $ 53
INCOME TAXES	NOTE8 INCOME TAXES The Companys Income tax (expense) benefit consisted of: Years Ended December31, 2008 2007 2006 Current: United States $ (62 ) $ 121 $ Foreign (351 ) (473 ) (453 ) (413 ) (352 ) (453 ) Deferred: United States 235 (1 ) 15 Foreign 65 153 112 300 152 127 $ (113 ) $ (200 ) $ (326 ) The Companys Income (loss) from continuing operations before income tax, minority interest and equity (loss) income of affiliates consisted of: Years Ended December31, 2008 2007 2006 United States $ 564 $ (155 ) $ 188 Foreign 712 (197 ) 1,062 $ 1,276 $ (352 ) $ 1,250 The Companys income tax expense differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons: Years Ended December31, 2008 2007 2006 Income (loss) from continuing operations before income tax, minority interest and equity (loss) income of affiliates $ 1,276 $ (352 ) $ 1,250 United States statutory corporate income tax rate 35 % 35 % 35 % Income tax (expense) benefit computed at United States statutory corporate income tax rate (447 ) 123 (438 ) Reconciling items: Percentage depletion and Canadian Resource Allowance 130 70 77 Change in valuation allowance on deferred tax assets (31 ) 17 3 Effect of foreign earnings, net of allowable credits (5 ) (10 ) (7 ) U.S. tax effect of minority interest attributable to non-U.S. investees 19 4 15 Rate differential for foreign earnings indefinitely reinvested (20 ) (7 ) (70 ) Resolution of prior years uncertain income tax matters 69 (3 ) 4 Foreign currency translation of monetary assets 21 1 Tax effect of changes in tax laws 4 23 Tax effect of impairment of goodwill (393 ) U.S. tax payable and book/tax basis analysis 27 Tax effect of loss generated on change in form of a non-U.S. subsidiary 159 Ch
MINORITY INTEREST IN INCOME OF CONSOLIDATED SUBSIDIARIES	NOTE9 MINORITY INTEREST IN INCOME OF CONSOLIDATED SUBSIDIARIES Years Ended December31, 2008 2007 2006 Yanacocha $ 232 $ 108 $ 256 Batu Hijau 98 299 103 Other (1 ) 3 4 $ 329 $ 410 $ 363 Newmont 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 VIE as a result of certain capital structures and contractual relationships. As a result, Newmont fully consolidates Batu Hijau in its consolidated financial statements. The remaining 20% interest in PTNNT is owned by P.T.Pukuafu Indah (PTPI), an unrelated Indonesian company. Because PTPI had been advanced a loan by NTP and was not obligated to absorb the expected losses of PTNNT, PTPIs interest was initially considered a carried interest and Newmont reported a 52.875% economic interest in Batu Hijau, which reflected Newmonts actual economic interest in the mine until such time as the loan was fully repaid (including accrued interest). On May25, 2007, PTPI fully repaid the loan (including accrued interest) from NTP. As a result of the loan repayment, Newmonts economic interest in Batu Hijau was reduced from 52.875% to 45% and the Company recorded a net charge of $25 (after-tax) against Minority interest expense in the second quarter of 2007. During the second quarter of 2008, PTNNT advanced PTPI $20, which is included in Other long-term assets. Newmont has a 51.35% ownership interest in Minera Yanacocha SR.L. (Yanacocha), with the remaining interests held by Compaia de Minas Buenaventura, S.A.A. (43.65%) and the International Finance Corporation (5%).
EQUITY (LOSS) INCOME OF AFFILIATES	NOTE10 EQUITY (LOSS) INCOME OF AFFILIATES Years Ended December31, 2008 2007 2006 AGR Matthey Joint Venture $ (2 ) $ 1 $ 1 Regis Resources NL (3 ) (8 ) (2 ) European Gold Refineries 6 3 $ (5 ) $ (1 ) $ 2 AGR Matthey Joint Venture Newmont holds a 40% interest in the AGR Matthey Joint Venture (AGR), a gold refinery, with Johnson Matthey (Australia) Ltd. and the West Australian Mint holding the remaining interests. Newmont has no guarantees related to this investment. Newmont received dividends of $nil, $2 and $1 during 2008, 2007 and 2006, respectively, from its interests in AGR. See also Note27 for details of Newmonts transactions with AGR. Regis Resources NL Newmont holds a 43% interest in Regis Resources NL, which is primarily a gold exploration company with substantial landholding in Western Australia. Newmont has no guarantees related to this investment. European Gold Refineries Prior to May1, 2008, Newmont held a 46.72% interest in European Gold Refineries (EGR), sole owner of Valcambi SA, a London Good Delivery precious metals refiner and manufacturer of precious metal coins, medallions and luxury watch components. See Note13 for a discussion of the acquisition of additional shares resulting in the consolidation of EGR in 2008.
DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE	NOTE11 DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE Discontinued operations include the royalty portfolio and Pajingo operation, both sold in 2007, as well as the Zarafshan-Newmont Joint Venture (Zarafshan) expropriated by the Uzbekistan government in 2006 and the Holloway operation and Martabe project, both sold in 2006. In December 2007, the Company sold substantially all of Pajingos assets for cash and marketable equity securities totaling $23 resulting in a gain of $8. Additional Pajingo asset sales resulted in a gain of $1 in 2008. In June 2007, the Companys Board of Directors approved a plan to cease Merchant Banking activities. As part of this plan, Newmont decided to dispose of the assets recorded in the royalty portfolio and a portion of the marketable equity securities portfolio and to cease further investments in marketable equity securities that do not support Newmonts core gold mining business. In June 2007, Newmont recorded a $1,665 non-cash charge to impair the goodwill associated with the Merchant Banking Segment. In December 2007, Newmont received net cash proceeds of $1,187 and recognized a gain of $905 related to the sale of the royalty portfolio. In 2008, Newmont recognized additional royalty portfolio revenue of $6 in excess of the 2007 estimate and recorded a $19 tax benefit related to the US tax return true-up on the sale of the royalty portfolio. In 2006, Newmont recorded an impairment loss of $101 due to the Uzbekistan governments expropriation of the Zarafshan operation. In 2007, after pursuing international arbitration,Newmont received proceeds of $80 and recognized a gain of $77 related to the settlement. In 2006, Newmont received $271net cash proceeds for the Alberta oil sands project, resulting in a $266 gain, received $42net cash proceeds and approximately 43million Agincourt shares valued at $37 for the Martabe project, resulting in a $30 gain and received $40net cash proceeds plus certain royalties for the Holloway assets, resulting in a $13 gain. Newmont has accounted for these dispositions in accordance with FASB Statement No.144 Accounting for the Impairment or Disposal of Long-Lived Assets. The Company has reclassified the balance sheet amounts and the income statement results from the historical presentation to Assets and Liabilities of operations held for sale on the Consolidated Balance Sheets and to Income (loss) from discontinued operations in the Consolidated Statements of Income (Loss) for all periods presented. The Consolidated Statements of Cash Flows have been reclassified for assets held for sale and discontinued operations for all periods presented. The following table details selected financial information included in the Income (loss) from discontinued operations in the Consolidated Statements of Income (Loss): Years Ended December31, 2008 2007 2006 Sales gold, net $ $ 119 $ 157 Income from operations: Royalty portfolio $ 6 $ 123 $ 67 Pajingo
STOCKHOLDERS' EQUITY AND INCOME (LOSS) PER SHARE	NOTE12 STOCKHOLDERS EQUITY AND INCOME (LOSS) PER SHARE Newmont Common Stock In October 2007, Newmont filed a shelf registration statement on FormS-3 under which it can issue an indeterminate number or amount of common stock, preferred stock, debt securities, guarantees of debt securities and warrants from time to time at indeterminate prices. It also included the resale of an indeterminate amount of common stock, preferred stock and debt securities from time to time upon exercise of warrants or conversion of convertible securities. The Company paid common stock dividends of $0.40 per share in 2008, 2007 and 2006. Treasury Stock Treasury stock is acquired by the Company when certain restricted stock awards vest or are forfeited (see Note23). At vesting, a participant has a tax liability and, pursuant to the participants award agreement, may elect withholding of restricted stock to satisfy tax withholding obligations. The withheld or forfeited stock is accounted for as treasury stock and carried at the par value of the related common stock. Exchangeable Shares In connection with the acquisition of Franco-Nevada Corporation (Franco) in February 2002, certain holders of Franco common stock received 0.8 of an exchangeable share of Newmont Mining Corporation of Canada Limited (formerly Franco) for each share of common stock held. These exchangeable shares are convertible, at the option of the holder, into shares of Newmont common stock on a one-for-one basis, and entitle holders to dividends and other rights economically equivalent to holders of Newmont common stock. As of December31, 2008 and 2007, the value of these no-par shares was included in Additional paid-in capital. Call Spread Transactions In connection with the issuance of $1,150 of convertible notes in July 2007 (see Note21), the Company entered into separate convertible note hedge transactions and separate warrant transactions with respect to the Companys common stock to minimize the impact of the potential dilution upon conversion of the convertible notes. The Company purchased call options in private transactions to cover 24,887,956shares of the Companys common stock at a strike price of $46.21 per share, subject to adjustment in certain circumstances, for approximately $366. The call options generally allow the Company to receive shares of the Companys common stock from counterparties equal to the number of shares of common stock payable to the holders of the notes upon conversion. The Company also sold warrants in private transactions permitting the purchasers to acquire up to 24,887,956shares of the Companys common stock at an exercise price of $60.27, subject to adjustments in certain circumstances, for total proceeds of approximately $248. The Company has analyzed the Call Spread Transactions under EITF Issue No.00-19, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Companys Own Stock, and other relevant literature, and determined that they meet the criteria for classification as equity transactions. As a result, the Company recorded the purchase of the call options as a reduct
ACQUISITIONS	NOTE13 ACQUISITIONS In April 2008, the Company purchased 15,960 additional shares of EGR for $11 in cash bringing its ownership interest to 56.67% from 46.72%. EGR owns 100% of Valcambi SA (Valcambi), a London Good Delivery precious metals refiner and manufacturer of precious metal coins, medallions and luxury watch components. The additional interest resulted in the consolidation of EGR as of May1, 2008 and increased Other current assets and Other current liabilities by $229 and $206, respectively. EGRs revenue and expenses are included in Other income, net reflecting the service fee and secondary nature of EGRs business to the Companys central operations. Prior to consolidation, the Company accounted for EGR using the equity method of accounting. In November 2008, EGR repurchased 6.55% of its own shares from a minority shareholder bringing Newmonts ownership to 60.64%. In December 2007, 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. With the completion of the Miramar acquisition, the Company controls the Hope Bay project, a large undeveloped gold property in Nunavut, Canada. The acquisition and development of the Hope Bay project is consistent with the Companys strategic focus on generating value through exploration and project development and was acquired with the intention of adding higher grade ore reserves and developing a new core gold mining district in a AAA-rated country. The purchase price paid has been allocated to the assets acquired and liabilities assumed based upon their estimated fair values on the respective closing dates as follows: Assets: Cash and cash equivalents $ 38 Property, plant and mine development, net 1,880 Investments 40 Deferred income tax assets 94 Other assets 35 2,087 Liabilities: Accrued liabilities 53 Deferred income tax liabilities 681 734 Net assets acquired $ 1,353 In September 2006, Newmont acquired a 40% interest in Shore Gold Inc.s Forta la Corne JV diamond project in Saskatchewan, Canada for cash consideration of $152. In March 2006, Newmont acquired Newcrest Mining Limiteds 22.22% interest in the Boddington project, bringing its interest in the project, at that time, to 66.67%, for cash consideration of $173. In January 2006, Newmont acquired the remaining 15% interest in the Akyem project for cash consideration of $23, bringing its interest in the project to 100%.
DERIVATIVE INSTRUMENTS	NOTE14 DERIVATIVE INSTRUMENTS Newmonts strategy is to provide shareholders with leverage to changes in the gold price by selling the Companys gold production at market prices. Prior to 2007, however, Newmont entered into derivative contracts to protect the selling price for certain anticipated gold and copper production. During 2007, the Company delivered into the last of the copper collar contracts and settled all price-capped forward gold sales contracts. The Company continues to manage risks associated with commodity inputs, interest rates and foreign currencies using the derivative market. For 2008, 2007 and 2006, net gains (losses) of $10, $4 and $(60), respectively, were included in Other income, net for the ineffective portion of derivative instruments designated as fair value and cash flow hedges. All of the currency and diesel contracts have been designated as cash flow hedges of future expenditures, and as such, changes in the market value have been recorded in Accumulated other comprehensive (loss) income. The amount to be reclassified from Accumulated other comprehensive (loss) income, net of tax to income for derivative instruments during the next 12months is a loss of approximately $33. The maximum period over which hedged forecasted transactions are expected to occur is 3years. Foreign Currency Contracts Newmont entered into a series of foreign currency contracts to hedge the variability of the US dollar amount of forecasted foreign currency expenditures caused by changes in currency rates. Newmont entered into IDR/$ 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 which increased Batu Hijau Costs applicable to sales by $2 in 2008, and reduced Batu Hijau Costs applicable to sales by $4 and $11 in 2007 and 2006, respectively. As of December31, 2008, the Company has hedged 31% of its expected 2009 IDR operating expenditures. During the third quarter of 2007, Newmont began a multi-year systematic, disciplined layered program to hedge up to 85% of the Companys A$ 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 1/36thof the forecasted monthly A$ operating cost exposure in the rolling three-year hedge period resulting in a blended $/A$ rate realized. During 2008 and 2007, the A$ operating hedge program increased Australia/New Zealand Costs applicable to sales by $13 and reduced Australia/New Zealand Costs applicable to sales by $1, respectively. As of December31, 2008, the Company has hedged 66%, 38% and 12% of its expected 2009, 2010 and 2011 A$ operating expenditures, respectively, which includes our 66.67% ownership in Boddington. During the first quarter of 2008, Newmont began a multi-year systematic, disciplined layered progra
INVESTMENTS	NOTE15 INVESTMENTS At December31, 2008 Cost/Equity Unrealized Fair/Equity Basis Gain Loss Basis Current: Marketable Equity Securities $ 14 $ 1 $ (3 ) $ 12 Long-term: Marketable Debt Securities: Auction rate securities $ 7 $ $ (2 ) $ 5 Asset backed securities 25 (3 ) 22 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 (Note10): AGR Matthey Joint Venture 12 12 $ 380 $ 283 $ (8 ) $ 655 At December31, 2007 Cost/Equity Unrealized Fair/Equity Basis Gain Loss Basis Current: Marketable Equity Securities $ 19 $ 39 $ $ 58 Other investments, at cost 3 3 $ 22 $ 39 $ $ 61 Long-term: Marketable Debt Securities: Auction rate securities $ 7 $ $ (2 ) $ 5 Asset backed securities 31 31 38 (2 ) 36 Marketable Equity Securities: Canadian Oil Sands Trust 316 907 1,223 Gabriel Resources Ltd. 94 94 Shore Gold Inc. 80 80 Other 37 15 (7 ) 45 527 922 (7 ) 1,442 Other investments, at cost 4
INVENTORIES	NOTE16 INVENTORIES At December31, 2008 2007 In-process $ 53 $ 64 Concentrate 54 69 Precious metals 24 27 Materials, supplies and other 388 303 $ 519 $ 463 The Company recorded aggregate write-downs of $5, $3 and $2 for 2008, 2007 and 2006, respectively, to reduce the carrying value of inventories to net realizable value. Write-downs in 2008 were related to Nevada and Batu Hijau. Write-downs in 2007 were related to Australia/New Zealand. Write-downs in 2006 were related to Golden Giant (Other Operations). Inventory write-downs are classified as components of Costs applicable to sales.
STOCKPILES AND ORE ON LEACH PADS	NOTE17 STOCKPILES AND ORE ON LEACH PADS At December31, 2008 2007 Current: Stockpiles $ 120 $ 204 Ore on leach pads 204 169 $ 324 $ 373 Long-term: Stockpiles $ 873 $ 528 Ore on leach pads 272 260 $ 1,145 $ 788 At December31, 2008, stockpiles were primarily located at Batu Hijau ($612), Nevada ($214) and Australia/New Zealand ($98) and leach pads were primarily located at Yanacocha ($264) and Nevada ($165). The Company recorded aggregate write-downs of $20, $14 and $2 for 2008, 2007 and 2006, respectively, to reduce the carrying value of stockpiles and leach pads to net realizable value. Write-downs in 2008 were related to Kori Kollo (Other Operations) and Australia/New Zealand. Write-downs in 2007 were primarily related to Yanacocha and Australia/New Zealand. The write-down in 2006 was related to Australia/New Zealand. Stockpile and ore on leach pads write-downs are classified as components of Costs applicable to sales.
OTHER ASSETS	NOTE18 OTHER ASSETS At December31, 2008 2007 Other current assets: Prepaid income and mining taxes $ 187 $ 10 Refinery metal inventory and receivable 168 Other prepaid assets 43 37 Notes receivable 9 13 Other 51 27 $ 458 $ 87 Other long-term assets: Debt issuance costs $ 35 $ 40 Restricted cash 33 93 Corporate-owned life insurance 26 19 Prepaid royalties 19 20 Other receivables 17 21 Prepaid maintenance costs 13 6 Derivative instruments (Note14) 8 6 Other 62 25 $ 213 $ 230
PROPERTY, PLANT AND MINE DEVELOPMENT	NOTE19 PROPERTY, PLANT AND MINE DEVELOPMENT Depreciable At December31, 2008 At December31, 2007 Life Accumulated Net Book Accumulated Net Book (In Years) Cost Amortization Value Cost Amortization Value Land $ 105 $ $ 105 $ 88 $ $ 88 Facilities and equipment 1 - 25 9,158 (4,411 ) 4,747 7,786 (4,110 ) 3,676 Mine development 1 - 25 2,063 (933 ) 1,130 1,951 (896 ) 1,055 Mineral interests 1 - 25 2,767 (563 ) 2,204 2,830 (509 ) 2,321 Asset retirement cost 1 - 25 384 (191 ) 193 335 (165 ) 170 Construction-in-progress 1,753 1,753 1,830 1,830 $ 16,230 $ (6,098 ) $ 10,132 $ 14,820 $ (5,680 ) $ 9,140 Leased assets included above in facilities and equipment 2 - 18 $ 425 $ (268 ) $ 157 $ 378 $ (228 ) $ 150 At December31, 2008 At December31, 2007 Amortization Gross Gross Period Carrying Accumulated Net Book Carrying Accumulated Net Book Mineral Interests (in years) Value Amortization Value Value Amortization Value Production stage 1 - 25 $ 804 $ (556 ) $ 248 $ 766 $ (502 ) $ 264 Development stage 372 372 386 386 Exploration stage 1,591 (7 ) 1,584 1,678 (7 ) 1,671 $ 2,767 $ (563 ) $ 2,204 $ 2,830 $ (509 ) $ 2,321 Construction-in-progress during 2008 of $1,753 included $1,325 at Australia/New Zealand primarily related to the Boddington project, $139 at Africa primarily related to the Akyem project, the development of the Amoma pit at Ahafo and other infrastructure in Ahafo, $133 at Nevada primarily related to tailings dam expansions at Carlin and Twin Creeks and a truck shop at Carlin and $132 at Yanacocha
GOODWILL	NOTE20 GOODWILL The carrying amount of goodwill by reporting unit as of December31, 2008 and 2007 and changes in the carrying amount of goodwill are summarized in the following table: Australia/ New Zealand Exploration Consolidated Balance at January1, 2006 $ 186 $ 1,129 $ 1,315 Boddington acquisition from Newcrest Mining Ltd. preliminary 23 23 Balance at December31, 2006 209 1,129 1,338 Boddington acquisition from Newcrest Mining Ltd. final (23 ) (23 ) Pre-acquisition income tax contingency adjustment (7 ) (7 ) Exploration impairment (1,122 ) (1,122 ) Balance at December31, 2007 186 186 Pre-acquisition income tax contingency adjustment 2 2 Balance at December31, 2008 $ 188 $ $ 188 In 2007, annual testing for impairment pursuant to FASNo.142 (comparison of implied goodwill value to carrying value) resulted in a goodwill impairment charge for the Exploration Segment of $1,122. The impairment resulted primarily from adverse changes in valuation assumptions and the application of a revised industry definition of value beyond proven and probable reserves (VBPP). The changes to valuation assumptions included: (i)a significantly lower assumed annual reserve growth rate (from 4% to 3%), (ii)a significant change in the financial markets resulting in a significant increase in the discount rate (from 8% to 10%), and (iii)an increase in finding costs due to a combination of increased spending and reduced exploration success. The revised definition of VBPP ascribes more value to tangible mineral interest than the original definition used by the Company. As a result of applying the new definition of VBPP, the higher value ascribed to the Exploration Segments tangible mineral interests reduced the implied value of the Exploration Segments goodwill to a negligible value. Based on the negligible valuation, the Exploration Segment goodwill was impaired and the full $1,122 of goodwill was recorded as a non-cash write-down of goodwill as of December31, 2007.
DEBT	NOTE21 DEBT At December31, 2008 2007 Current Non-Current Current Non-Current Sale-leaseback of refractory ore treatment plant $ 24 $ 188 $ 22 $ 212 85/8%debentures, net of discount (due 2011) 214 218 Corporate revolving credit facility (due 2012) 757 2014 convertible senior notes 575 575 2017 convertible senior notes 575 575 57/8%notes, net of discount (due 2035) 597 597 Newmont Australia 75/8% guaranteed notes 119 PTNNT project financing facility 87 219 87 306 PTNNT shareholder loans 18 Yanacocha credit facility 14 62 14 76 Yanacocha bonds 100 100 Ahafo project facility 9 66 Other project financings and capital leases 17 20 13 24 $ 169 $ 3,373 $ 255 $ 2,683 Scheduled minimum debt repayments are $169 in 2009, $156 in 2010, $329 in 2011, $901 in 2012, $115 in 2013 and $1,872 thereafter. Sale-Leaseback of Refractory Ore Treatment Plant In September 1994, the Company entered into a sale and leaseback agreement for its refractory ore treatment plant located in Carlin, Nevada. The lease term is 21years and aggregate future minimum lease payments, which include interest, were $263 and $299 as of December31, 2008 and 2007, respectively. Future minimum lease payments are $37 in 2009, $36 in 2010, $39 in 2011, $70 in 2012, $36 in 2013 and $45 thereafter. The lease includes purchase options during and at the end of the lease at predetermined prices. The interest rate on this sale-leaseback transaction is 6.36%. In connection with this transaction, the Company entered into certain interest rate hedging contracts that were settled for a gain of $11, which is recognized as a reduction of interest expense over the term of the lease. Including this gain, the effective interest rate on the borrowing is 6.15%. The related asset is specialized, therefore it is not practicable to estimate the fair value of this debt. 57/8%Notes In March 2005, Newmont issued uncollateralized notes with a principal amount of $600 due April 2035 bearing an annual interest rate of 57/8%. Interest on the notes is paid semi-annually in April and October. Using prevailing interest rates on similar instruments, the estimated fair value of these notes was $449 and $523 as of December31, 2008 and 2007, respectively. The foregoing fair value estimate was prepared by an independent third party and may or may not reflect the actual trading value of this debt. 85/8%Debe
EMPLOYEE-RELATED BENEFITS	NOTE22 EMPLOYEE-RELATED BENEFITS At December31, 2008 2007 Current: Accrued payroll and withholding taxes $ 87 $ 79 Peruvian workers participation 35 25 Accrued severance 6 5 Employee pension benefits 5 6 Other post-retirement plans 4 3 Other employee-related payables 41 35 $ 178 $ 153 At December31, 2008 2007 Long-term: Employee pension benefits $ 235 $ 107 Other post-retirement benefit plans 85 66 Accrued severance 39 33 Peruvian workers participation 10 9 Other employee-related payables 10 11 $ 379 $ 226 Pension Plans The Companys pension plans include:(1)two qualified non-contributory defined benefit plans (for salaried employees and substantially all domestic hourly union employees); (2)one non-qualified plan (for salaried employees whose benefits under the qualified plan are limited by federal legislation); (3)two qualified plans for salaried and hourly Canadian employees; (4)one non-qualified plan for employees of PTNNT; (5)an international plan for select employees who are not eligible to participate in the U.S.-based plans because of citizenship; (6)one non-qualified plan for members of the board of directors; (7)one non-qualified plan for former employees under terminated plans; and (8)three qualified plans for salaried and hourly employees of the former Miramar operations, acquired in December 2007. The vesting period for plans identified in (1)and (2)is five years of service. These plans benefit formulas are based on an employees years of credited service and either (i)such employees highest consecutive five years average pay (salaried plan) or (ii)a flat dollar amount adjusted by a service-weighted multiplier (hourly plan). The Canadian plan provides for full vesting of benefits upon remittance and the benefit formula is based on a percentage of annual pay. The PTNNT plan is based on Indonesian Labor Law and provides for benefits to employees at age55 or if employment is terminated at mine closing. The benefits formula under the Indonesian Labor Law is based on an employees current salary and years of service prior to retirement or termination of employment at mine closing. The international retirement plans basic and savings accounts have a graded vesting schedule and are fully vested after four years of service. The international retirement plans supplemental account is vested after attaining age55 with 10years of service or attaining age62. The plans benefit formula is based on a percentage of compensation as defined in the plan document. The former Miramar operations plans will continue for current retired members and no additional employees will become eligible for benefits under thes
STOCK BASED COMPENSATION	NOTE23 STOCK BASED COMPENSATION Employee Stock Options The Company has a Stock Incentive Plan (Stock Plan) for executives and eligible employees. Under this Stock Plan, options to purchase shares of stock can be granted with exercise prices not less than fair market value of the underlying stock at the date of grant. Fair market value of a share of common stock as of the grant date is the average of the high and low sales prices for a share of the Companys common stock on the New York Stock Exchange. The Company also maintains prior stock plans, but no longer grants awards under these plans. Options granted under the Companys stock plans vest over periods of three years or more and are exercisable over a period of time not to exceed 10years from grant date. As of December31, 2008, 13,514,010shares were available for future grants under the Stock Plan. During 2008, 2007 and 2006, 1,416,963, 1,066,500 and 1,238,750 stock option awards were granted, respectively. The value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires the input of subjective assumptions, including the expected term of the option award and stock price volatility. The expected term of options granted is derived from historical data on employee exercise and post-vesting employment termination experience. Expected volatility is based on the historical volatility of our stock at the time grants are issued (generally in April). These estimates involve inherent uncertainties and the application of management judgment. In addition, we are required to estimate the expected forfeiture rate and only recognize expense for those options expected to vest. As a result, if other assumptions had been used, our recorded stock based compensation expense would have been different from that reported. The Black-Scholes option-pricing model used the following assumptions: 2008 2007 2006 2005 2004 Weighted-average risk-free interest rate 3.1 % 4.6 % 4.9 % 4.2 % 3.4 % Dividend yield 1.0 % 1.0 % 0.7 % 1.0 % 0.8 % Expected life in years 5 5 5 4 4 Volatility 30 % 32 % 34 % 38 % 41 % The following table summarizes annual activity for all stock options for each of the three years ended December 31: 2008 2007 2006 Weighted Weighted Weighted Average Average Average Number of Exercise Number of Exercise Number of Exercise Shares Price Shares Price Shares Price Outstanding at beginning of year 6,234,814 $ 41.09 7,503,608 $ 39.08 9,433,669 $ 35.90 Granted
OTHER LIABILITIES	NOTE24 OTHER LIABILITIES At December31, 2008 2007 Other current liabilities: Refinery metal payable $ 168 $ Accrued operating costs 158 147 Derivative instruments (Note14) 111 3 Accrued capital expenditures 107 172 Reclamation and remediation costs (Note25) 64 71 Taxes other than income and mining 39 23 Interest 35 40 Royalties 28 34 Peruvian royalty 18 5 Deferred income tax (Note8) 8 132 Other 43 38 $ 779 $ 665 At December31, 2008 2007 Other long-term liabilities: Income and mining taxes $ 167 $ 113 Derivative instruments (Note14) 43 3 Other 42 34 $ 252 $ 150
RECLAMATION AND REMEDIATION LIABILITIES (ASSET RETIREMENT OBLIGATIONS)	NOTE25 RECLAMATION AND REMEDIATION LIABILITIES (ASSET RETIREMENT OBLIGATIONS) The Companys mining and exploration activities are subject to various federal and state 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. As of December31, 2008 and 2007, $617 and $569, respectively, were accrued for reclamation obligations relating to currently or recently producing mineral properties. 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. As of December31, 2008 and 2007, $163 and $125, respectively, were accrued for such obligations. These amounts are also included in Reclamation and remediation liabilities. Included in Other long-term assets as of December31, 2008 and 2007 is $23 and $28, respectively, of restricted cash that is legally restricted for purposes of settling asset retirement obligations related to Hope Bay and former Miramar operations. Also included in Other long-term assets as of December31, 2008 is $13 related to commitments in Peru. The following is a reconciliation of the total liability for reclamation and remediation: Balance January1, 2007 $ 598 Additions, change in estimates and other 95 Liabilities settled (54 ) Acquisition/Disposition of liability, net 18 Accretion expense 37 Balance December31, 2007 694 Additions, change in estimates and other 148 Liabilities settled (104 ) Accretion expense 42 Balance December31, 2008 $ 780 The current portions of Reclamation and remediation liabilities of $64 and $71 as of December31, 2008 and 2007, respectively, are included in Other current liabilities. The Companys reclamation and remediation expenses consisted of: Years Ended December31, 2008 2007 2006 Asset retirement cost amortization $ 26 $ 28 $ 23 Accretion, operating 32 29 27 Accretion, non-operating (Note6) 10 8 3 Reclamation estimate revisions (Note6) 102 29 47 $ 170 $ 94 $ 100 Asset retirement cost amortization is a c
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	NOTE26 ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME At December31, 2008 2007 Unrealized gain on marketable securities, net of $55 and $161 tax expense, respectively $ 218 $ 791 Foreign currency translation adjustments (206 ) 181 Pension liability adjustments, net of $94 and $32 tax benefit, respectively (176 ) (59 ) Other post-retirement benefit adjustments, net of $5 and $12 tax expense, respectively 10 23 Changes in fair value of cash flow hedge instruments, net of tax and minority interests benefit (expense) of $44 and $(9), respectively (99 ) 21 $ (253 ) $ 957
RELATED PARTY TRANSACTIONS	NOTE27 RELATED PARTY TRANSACTIONS Newmont had transactions with EGR and AGR, as follows: Years Ended December31, 2008 2007 2006 Gold and silver sales: AGR $ 10 $ 9 $ EGR $ $ 135 $ 66 Refining fees paid: AGR $ 3 $ 2 $ 1 EGR $ $ 2 $ 3 During 2008, Newmont increased its investment in EGR to 60.64%, and the additional interest resulted in the consolidation of EGR. See Notes10 and 13 for a discussion of Newmonts investments in AGR and EGR, respectively.
NET CHANGE IN OPERATING ASSETS AND LIABILITIES	NOTE28 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: Years Ended December31, 2008 2007 2006 Decrease (increase) in operating assets: Trade and accounts receivable $ 80 $ 17 $ (110 ) Inventories, stockpiles and ore on leach pads (354 ) (95 ) (382 ) EGR refinery assets 38 Other assets (209 ) 6 (25 ) (Decrease) increase in operating liabilities: Accounts payable and other accrued liabilities (55 ) (629 ) 230 EGR refinery liabilities (38 ) Reclamation liabilities (Note25) (104 ) (54 ) (60 ) $ (642 ) $ (755 ) $ (347 ) The decrease in accounts payable and other accrued liabilities in 2007 includes $276 from the settlement of pre-acquisition Australian income taxes of Normandy and $174 from the final settlement of copper collar contracts.
SUPPLEMENTAL CASH FLOW INFORMATION	NOTE29 SUPPLEMENTAL CASH FLOW INFORMATION Years Ended December31, 2008 2007 2006 Income taxes, net of refunds $ 785 $ 324 $ 403 Interest, net of amounts capitalized $ 97 $ 88 $ 96 Noncash Investing Activities and Financing Activities Minera Yanacocha entered into mining equipment leases that resulted in non-cash increases to Property, plant and mine development, net and Long-term debt of $12 in 2008 and $28 in 2007. In 2008, Nevada entered into warehouse equipment leases that resulted in non-cash increases to Property, plant and mine development, net and Long-term debt of $2. In March 2007, the Company completed an agreement with Oxiana Resources (Oxiana) and Agincourt Resources (Agincourt) in connection with Oxianas offer to acquire Agincourt. The transaction followed the Companys sale in 2006 of the Martabe project to Agincourt in exchange for Agincourt shares, and as a result, the Company received Oxiana shares classified as marketable equity securities valued at $64 in return for its 43million Agincourt shares classified as marketable equity securities. In December 2007, the Company sold its royalty portfolio for total cash consideration of $1,197 less $21 in expenses of which $11 was paid in 2008. Newmont also sold its Pajingo operation for total consideration of $23 which includes $14 received in cash and $9 received in marketable equity securities. In 2006, the Company delivered 161,111 ounces of gold in connection with the prepaid forward sales obligation, resulting in a noncash reduction in debt of $48.
OPERATING LEASE COMMITMENTS	NOTE30 OPERATING LEASE COMMITMENTS The Company leases certain assets, such as equipment and facilities, under operating leases expiring at various dates through 2020. Future minimum annual lease payments are $12 in 2009, 2010 and 2011, $10 in 2012, $9 in 2013 and $44 thereafter, totaling $99. Rent expense for 2008, 2007 and 2006 was $36, $33 and $17, respectively.
SEGMENT AND RELATED INFORMATION	NOTE31 SEGMENT AND RELATED INFORMATION Newmont predominantly operates in a single industry, namely exploration for and production of gold. Newmonts major operations include Nevada, Yanacocha, Australia/New Zealand, Batu Hijau and Africa. Newmont also has an Exploration Segment. The Exploration Segment is responsible for all activities, regardless of location, associated with the Companys efforts to discover new mineralized material that will advance into proven and probable reserves. The Company identifies its reportable segments as those consolidated mining operations or functional groups that represent more than 10% of the combined revenue, profit or loss or total assets of all reported operating segments. Consolidated mining operations or functional groups not meeting this threshold are aggregated at the applicable geographic or corporate level for segment reporting purposes. Earnings from operations do not reflect general corporate expenses, interest (except project-specific interest) or income taxes (except for equity investments). Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. During 2008, Newmont made certain reclassifications in its segment reporting presentation for 2007 and 2006 to conform to changes in presentation reflected in internal management reports, including the following: 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 LaHerradura, Kori Kollo and Golden Giant operations. Australia/ Other Nevada Yanacocha New Zealand Batu Hijau Africa Operations Year Ended December31, 2008 Sales, net: Gold $ 1,929 $ 1,613 $ 1,050 $ 261 $ 435 $ 158 Copper $ $ $ $ 752 $ $ Cost applicable to sales: Gold $ 1,022 $ 637 $ 655 $ 124 $ 205 $ 102 Copper $ $ $ $ 399 $ $ Amortization: Gold $ 246 $ 170 $ 122 $ 25 $
CONSOLIDATING FINANCIAL STATEMENTS	NOTE32 CONSOLIDATING FINANCIAL STATEMENTS The following Consolidating Financial Statements are presented to satisfy disclosure requirements of Rule3-10(e) of RegulationS-X resulting from the inclusion of Newmont USA Limited (Newmont USA), a wholly-owned subsidiary of Newmont, as a co-registrant with Newmont on a shelf registration statement on FormS-3 filed under the Securities Act of 1933 under which securities of Newmont (including debt securities which may be guaranteed by Newmont USA) may be issued from time to time (the Shelf Registration Statement). To the extent Newmont issues debt securities under the Shelf Registration Statement, it is expected that Newmont USA will provide a guarantee of that debt. In accordance with Rule3-10(e) of RegulationS-X, Newmont USA, as the subsidiary guarantor, is 100% owned by Newmont, the guarantee will be full and unconditional, and it is not expected that any other subsidiary of Newmont will guarantee any security issued under the Shelf Registration Statement. There are no significant restrictions on the ability of Newmont USA to obtain funds from its subsidiaries by dividend or loan. For the Year Ended December31, 2008 Newmont Newmont Mining Condensed Consolidating Mining Newmont Other Corporation Statement of Income Corporation USA Subsidiaries Eliminations Consolidated Revenues Sales gold, net $ $ 3,961 $ 1,486 $ $ 5,447 Sales copper, net 752 752 4,713 1,486 6,199 Costs and expenses Costs applicable to sales (exclusive of amortization and accretion shown separately below) Gold 1,887 879 (21 ) 2,745 Copper 399 399 Amortization 558 190 (1 ) 747 Accretion 25 7 32 Exploration 132 82 214 Advanced projects, research and development 63 107 (4 ) 166 General and administrative 113 6 25 144 Write-down of property, plant and mine development 15 122 137 Other expense, net 1 246 112 1 360 1 3,438 1,505 4,944 Other (expense) income
COMMITMENTS AND CONTINGENCIES	NOTE33 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 FIN48 (see Note8). 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 Note31. Except as noted in this paragraph, all of the Companys commitments and contingencies specifically described in this Note33 relate to the Corporate and Other reportable segment. The Nevada Operations matters under Newmont USA Limited relate to the Nevada reportable segment. The PT Newmont Minahasa Raya matters relate to the Other Operations reportable segment. The Yanacocha matters relate to the Yanacocha reportable segment. The Newmont Yandal Operations Pty Limited matter relates to the Australia/New Zealand reportable segment. The PTNNT matters relate to the Batu Hijau 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 December31, 2008 and 2007, $617 and $569, 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 $49 and $57 at December31, 2008 and 2007, 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 of
UNAUDITED SUPPLEMENTARY DATA	NOTE34 UNAUDITED SUPPLEMENTARY DATA Quarterly Data The following is a summary of selected quarterly financial information (unaudited): 2008 Three Months Ended March31 June30 September30 December31 Revenues $ 1,943 $ 1,522 $ 1,392 $ 1,342 Gross profit(1) $ 962 $ 571 $ 384 $ 359 Income from continuing operations $ 364 $ 279 $ 177 $ 9 Income (loss) from discontinued operations $ 6 $ (2 ) $ 19 $ 1 Net income $ 370 $ 277 $ 196 $ 10 Income from continuing operations, per common share, basic $ 0.81 $ 0.61 $ 0.39 $ 0.02 Income from discontinued operations, per common share, basic $ 0.01 $ $ 0.04 $ Net income per common share, basic $ 0.82 $ 0.61 $ 0.43 $ 0.02 Income from continuing operations, per common share, diluted $ 0.80 $ 0.61 $ 0.39 $ 0.02 Income from discontinued operations, per common share, diluted $ 0.01 $ $ 0.04 $ Net income per common share, diluted $ 0.81 $ 0.61 $ 0.43 $ 0.02 Basic weighted-average shares outstanding 453 454 454 454 Diluted weighted-average shares outstanding 457 456 455 455 Dividends declared per common share $ 0.10 $ 0.10 $ 0.10 $ 0.10 Closing price of common stock $ 45.30 $ 52.16 $ 38.76 $ 40.70 2007 Three Months Ended March31 June30 September30 December31 Revenues $ 1,224 $ 1,276 $ 1,616 $ 1,410 Gross profit (loss)(1) $ 285 $ (163 ) $ 739 $ 545 Income (loss) from continuing operations $ 40 $ (401 ) $ 331 $ (933 ) Income (loss) from discontinued operations $ 28 $ (1,661 ) $ 66 $ 644 Net income (loss) $ 68 $ (2,062 ) $ 397 $ (289 ) Income (loss) from continuing operations, per common share, basic $ 0.09 $ (0.89 ) $ 0.73 $ (2.06 ) Income (loss) from discontinued operations, per common share, basic $ 0.06 $ (3.68 ) $ 0.15 $ 1.43 Net income (loss) per common share, basic $ 0.15 $ (4.57 ) $ 0
SUBSEQUENT EVENTS	NOTE35 SUBSEQUENT EVENTS On January27, 2009, the Company entered into a definitive sale and purchase agreement with AngloGold Ashanti Australia Limited to acquire its 33.33% interest in the Boddington project in Western Australia. Upon expected completion of the acquisition, 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 December 2009, and a royalty 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. The valuation date for the transaction is January1, 2009 and the transaction is expected to close in March 2009, subject to satisfaction or waiver of certain conditions and approvals. On February3, 2009, the Company completed a public offering of $518 convertible senior notes, including notes offered to cover over-allotments, maturing on February15, 2012 for net proceeds of $504 after deducting the underwriters discount and estimated expenses of the offering. The notes will pay interest semi-annually at a rate of 3.00% per annum. The notes are convertible, at the holders option, equivalent to a conversion price of $46.25 per share of common stock. On February3, 2009, the Company completed a public offering of 34,500,000shares of common stock, including shares offered to cover over-allotments, at a price of $37.00, for net proceeds of $1,233 after deducting the underwriters discount and estimated expenses of the offering. Such offerings were made pursuant to our automatic shelf registration statement on FormS-3. See Item7, Managements Discussion and Analysis of Consolidated Financial Condition and Results of Operations Shelf Registration Statement. The following table represents the pro-forma capitalization of the Company assuming the completion of the public offerings of the convertible senior notes and common stock noted above as well as the impact of the adoption of FSP APB 14-1. FSP APB 14-1 applies to convertible debt instruments and requires that the liability and equity components of convertible debt instruments within the scope be separately accounted for in a manner that reflects the entitys nonconvertible debt borrowing rate. This requires an allocation of the convertible debt proceeds between the liability component and the embedded conversion option (i.e., the equity component). The difference between the principal amount of the debt and the amount of the proceeds allocated to the liability component will be reported as a debt discount and subsequently amortized to earnings over the instruments expected life using the effective interest method. FSP APB 14-1 is effective for the Companys fiscal year beginning January1, 2009 and will be applied retrospectively to all periods presented. Total Capitalization as of December31, 2008 Pro-Forma Pro-Forma Actual Adjustments Balance Cash, cash equivalents, marketable securities and other short-term instruments $ 447

Document and Entity Information

Document and Entity Information (USD $)
	12 Months Ended Dec. 31, 2008
Document and Entity Information
Entity Registrant Name	Newmont Mining Corporation
Entity Central Index Key	0001164727
Document Type	10-K
Document Period End Date	2008-12-31
Amendment Flag	false
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	478,507,759