Newmont (NEM) 8-K Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations

Exhibit 99.2

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in millions except ratio)

The ratio of earnings to fixed charges represents income before income and mining tax expense, noncontrolling interests, equity income (loss) of affiliates, discontinued operations and cumulative effect of changes in accounting principles, divided by interest expense. Interest expense includes amortization of capitalized interest and the portion of rent expense representative of interest. The financial information of all prior periods has been reclassified to reflect discontinued operations.

	Years Ended December 31,
	2013			2012		2011		2010		2009
Earnings:
Income (Loss) before income and mining tax and other items(1)	$	(3,606	)	$	3,114	$	1,810	$	3,997	$	2,954
Adjustments:
Fixed charges added to earnings		320			272		267		295		135
Dividends from equity affiliates		—			19		31		7		2
Amortization of capitalized interest		74			26		24		26		17
	$	(3,212	)	$	3,431	$	2,132	$	4,325	$	3,108
Fixed Charges:
Net interest expense(2)	$	303		$	249	$	244	$	279	$	120
Portion of rental expense representative of interest		17			23		23		16		15
Fixed charges added to earnings		320			272		267		295		135
Capitalized interest		88			107		52		21		111
	$	408		$	379	$	319	$	316	$	246
Ratio of earnings to fixed charges		—	(3)		9.1		6.7		13.7		12.6

⁽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.

⁽³⁾  Earnings for 2013 were inadequate to cover fixed charges by $3,620.