Newmont Gold Reserves Increase to 93.5 Million Ounces
DENVER, Feb. 24, 2011 /CNW/ --
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Newmont Mining Corporation (NYSE: NEM) ('Newmont' or 'the Company') today announced it increased attributable gold reserves by 1.7 million ounces to 93.5 million ounces in 2010. Highlights include:
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-- Attributable gold reserves of 93.5 million ounces, an increase of 2%
from 2009;
-- Average grade of gold reserves unchanged from 2009 at 0.029 ounces per
ton;
-- Record attributable copper reserves of 9.4 billion pounds, an increase
of 3% from 2009; and
-- Reserves calculated at $950 per ounce and $2.50 per pound,
respectively.
>>
Attributable gold Measured and Indicated non-reserve mineralization ('NRM')(1) for 2010 was 1.3 billion tons at an average grade of 0.019 ounces per ton, up from 1.1 billion tons at an average grade of 0.020 ounces per ton for 2009. In addition, attributable gold Inferred NRM was 504 million tons at an average grade of 0.026 ounces per ton. Attributable copper Measured and Indicated NRM for 2010 was 849 million tons at an average grade of 0.15%, up from 796 million tons at a grade of 0.17% from 2009. In addition, attributable copper Inferred NRM was 390 million tons at an average grade of 0.15%. Gold and copper NRM were calculated using prices of $1,150 per ounce and $3.00 per pound, respectively.
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(Photo: http://photos.prnewswire.com/prnh/20110224/LA53860-a)
(Photo: http://photos.prnewswire.com/prnh/20110224/LA53860-b)
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North America was the largest contributor to higher gold reserves in 2010, with significant additions at Leeville-Turf, Twin Creeks, Phoenix and La Herradura. Other significant reserve additions were at Tanami in the Asia Pacific region and at Ahafo in the Africa region. North America also had the largest contribution to NRM, with significant additions at Greater Gold Quarry, Leeville-Turf, Buffalo Valley and Twin Creeks. Initial NRM was declared at the Merian project in Suriname. Other significant contributors to NRM included KCGM and Tanami in the Asia Pacific region.
For 2011, Newmont has budgeted $360 million (on a consolidated basis, including capitalized expenditures) for its exploration program, an increase of approximately 44% from 2010. The significant increase allows for accelerated exploration in all regions including at Leeville-Turf and Hope Bay in North America, Merian and Yanacocha Sulfides in South America, and Elang in Asia Pacific.
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Exploration Expenditure ($ Million)
(Photo: http://photos.prnewswire.com/prnh/20110224/LA53860-c)
(Photo: http://photos.prnewswire.com/prnh/20110224/LA53860-d)
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'We are proud of our recent exploration efforts delivering significant organic additions to our reserves,' said Guy Lansdown, EVP of Discovery & Development. 'These results have encouraged us to significantly increase our exploration spending in 2011. We believe our global portfolio of land positions offers considerable opportunity for continued reserve growth in our operating districts through the drill bit. Additionally, our generative exploration activities continue to allow us to look beyond current geographies into exciting new opportunities.'
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Near-Mine Exploration: 2010 Highlights and 2011 Planned Activity
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Newmont's 2010 Near Mine Exploration program produced strong results from more than 100 drill rigs and one million meters of drilling. Results spanned the breadth of the resource pipeline, including replacement of depleted reserves from the drill bit. Newmont's resource pipeline is well-positioned for aggressive development in 2011 with a 44% budget increase, which will allow Newmont to aggressively develop known targets, determine the full extent of emerging targets, test the viability of new early stage projects and explore for new discoveries.
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Highlights of the 2010 Near-Mine Exploration Program
-- Leeville-Turf: Reserves and NRM were added through an extensive
surface
and underground drilling campaign;
-- Subika Expansion: An underground exploration drift was initiated in
2010 and advanced to 2,635 meters, while open pit reserves increased
by
1.1 Moz; and
-- Merian: Initial NRM of 1.8 Moz was added in Suriname. A mineral
agreement is currently being negotiated.
Leeville-Turf, Nevada
>>
At the Leeville-Turf underground mine, 59.5 km of combined surface and underground drilling contributed to expansion of reserves and NRM in 2010. Underground programs added 364 core holes with positive outcomes adding 1.8 Moz of attributable reserves, 0.6 Moz of NRM and expanded known mineralization in all directions. Following the discovery of ore-grade mineralization up to 1 km from existing workings in early 2010, $25 million was added to the exploration budget for 20 km of deep surface exploration drilling (as deep as 1,200 meters) up to 2.4 kilometers north of the Turf orebody. Drill intercepts located approximately 450 and 2,700 meters north of the Turf workings encountered 9 m of 14.6 g/t and 10 m of 14 g/t, respectively.
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Greater Gold Quarry, Nevada
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Expansion of the Greater Gold Quarry pit contributed to a 1.0 Moz attributable NRM addition in 2010 drawing from a 326 hole (59 km) drilling program and phased layback re-design. There is excellent potential to expand reserves of oxide and refractory ore at Gold Quarry as large-scale drilling programs will continue for at least the next 2-4 years.
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Twin Creeks, Nevada
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Drilling at Twin Creeks in 2010 included 74 holes (11.5 km). The program supported cutoff grade changes, pit re-designs and stockpile assignments that combined to add 1.4 Moz of attributable reserves and 0.44 Moz of attributable NRM.
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Western Oxides, Peru
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At Yanacocha in Peru, the Western District Oxides program at La Quinua Sur, El Tapado and Cerro Negro added 0.6 Moz of attributable reserves. Higher gold price, new metallurgical results and 89 holes drilled in 2008-2009 provided context for updated layback designs and reserve additions.
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Merian, Suriname
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Based on a total of 179 km drilled in 1,494 holes over the life of the project and positive 2010 prefeasibility studies, 1.8 Moz of attributable NRM was added at the Merian project joint venture. In parallel, the Company is working to finalize a Mineral Agreement with the government of Suriname.
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Subika Expansion, Ghana
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At the Subika Expansion project, drilling of 28 km in 41 holes aimed at expanding underground and open pit mineral extensions, added 1.1 Moz of attributable open pit reserves in 2010. The calculation of underground NRM from 91 holes with 25 km of underground core drilling in 2010 will be confirmed through model and stope design updates in mid-2011. Concurrently, the exploration drift initiated in 2010 advanced 2,635 meters, vent raises were completed and initial test stope production is anticipated in early 2011. Completion of an underground pre-feasibility study is anticipated in the second quarter of 2011.
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Tanami, Australia
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At the Tanami underground mine, the 2007 discovery of the Auron orebody and accelerated drill development has expanded 2010 attributable reserves by 0.7 Moz and attributable NRM by 1.1 Moz. Drill totals in 2010 added 51 km in 130 core holes. The Auron orebody sits stratigraphically beneath the Callie mine with potential to access ore from existing underground workings. Auron has potential to significantly expand mine life at Tanami. Drilling is designed to continue to prove continuity of this orebody and add resources in 2011.
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Hope Bay, Nunavut (Canada)
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At Hope Bay, underground drilling, drifting and preparation for test mining will continue in 2011 along with continued exploration of the belt for new discoveries. Overall drill productivity throughout Hope Bay will increase approximately 50% to an estimated 70-90 km in 2011. The program will focus on confirmation and expansion of known ore bodies plus exploration on the 90 currently identified district targets.
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2011 New Near-Mine Activity
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Higher metal prices combined with new drilling, metallurgical testing and study work in 2010 led to renewed evaluations on several projects with strong potential to advance in the resource portfolio. These include the Sleeping Giants (Mike, Fiberline, Copper Basin and Greater Phoenix) in Nevada, Yanacocha Verde in South America and Elang in Indonesia.
In 2010, a series of internal pre-scoping assessments were completed on the Sleeping Giants in Nevada to evaluate these assets in the context of current metal pricing, current global portfolio opportunities and approximately 20 km of new drilling information. Positive results on these efforts resulted in four of these very large assets advancing into scoping studies and further exploration as part of the early development pipeline.
Elang is a copper and gold porphyry deposit lying 60 km east of the Batu Hijau mine in Indonesia. Increased gold and copper prices enabled the Company to re-evaluate economic potential with positive preliminary results in an early-stage conceptual setting. Drill permits are approved for the deposit and a 6-10 km drill program is anticipated in 2011 to improve confidence in and possibly expand the consolidated 25 Moz gold and 16 Blb copper target (based on a 3rd party JORC-compliant resource estimate effective June 2010).
At the Yanacocha Verde project in Peru, exciting new metallurgical results may unlock gold and copper mineralization directly below the oxide deposits in the Yanacocha district. The exploration program is focused on quickly advancing to pilot-scale testing and resource conversion drilling.
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Generative Exploration: 2010 Results and 2011 Planned Activity
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In 2010, Newmont continued to position its Generative Exploration program in the top five percent most prospective geological domains worldwide, where the potential exists for district size opportunities. With a $50 million budget, the Generative Exploration program continued its success of finding and delivering district potential targets into the project pipeline as part of its commitment to organic growth.
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Highlights include:
-- A new discovery with significant potential at Cassador(2) in Suriname,
building on the previous discoveries at Merian and Saramacca and
confirming the potential of the district;
-- Highly promising early stage scout drilling results in the West
African
program;
-- Generation of twenty quality targets with significant potential for
the
2011 drilling program; and
-- Further consolidation of land positions in Peru, Alaska and Mali.
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The new discovery at Cassador in Suriname in the Guiana Shield is a good example of Newmont's successful exploration ventures in discovering and building the next mineral district. Limited exploration scout drilling to date confirmed the target potential over a 1 km strike length and down to a depth of approximately 200 meters. In addition, there is evidence from scout drilling that the mineralized system extends at least 3 km along strike; it contains a number of blind shoots parallel to the main structure and it extends for at least another 100 meters at depth with the system getting stronger. There are also a number of structures parallel to the main structure with encouraging soil geochemical and trench results.
Based on the size and quality of the current portfolio of undrilled targets the Company has increased the Generative Exploration budget to approximately $60 million in 2011, representing a 20% increase relative to 2010. Highlights of the 2011 program include:
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-- Further test the upside potential at Cassador in Suriname;
-- Follow up on early stage promising results in West Africa;
-- Drill test 15 to 20 quality targets totaling approximately 95,000
meters in PNG, Solomon Islands, Haiti, Peru and West Africa; and
-- Generate 15 to 20 quality new targets to sustain a strong worldwide
portfolio.
Supplemental Information:
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Attributable Proven, Probable, and Combined Gold Reserves(1)
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Deposits/Districts by Reporting Unit
Newmont
Share
>>
<<
North America
Carlin Open Pits, Nevada(2) 100%
Carlin Underground, Nevada 100%
Midas, Nevada(3) 100%
Phoenix, Nevada 100%
Twin Creeks, Nevada 100%
Turquoise Ridge, Nevada(4) 25%
Nevada In-Process(5) 100%
Nevada Stockpiles(6) 100%
Total Nevada
La Herradura, Mexico (7) 44%
------------------------ ---
TOTAL NORTH AMERICA
-------------------
SOUTH AMERICA
Conga, Peru(8) 51.35%
Yanacocha Open Pits(9) 51.35%
Yanacocha In-Process(5) 51.35%
Total Yanacocha, Peru
La Zanja, Peru(10) 46.94%
------------------ -----
TOTAL SOUTH AMERICA
-------------------
Asia Pacific
Batu Hijau Open Pit(11) 48.50%
Batu Hijau Stockpiles(6)(11) 48.50%
Total Batu Hijau, Indonesia 48.50%
Boddington, Western Australia 100%
Duketon, Western Australia (12) 16.2%
Jundee, Western Australia 100%
Kalgoorlie Open Pit and Underground 50%
Kalgoorlie Stockpiles(6) 50%
Total Kalgoorlie, Western
Australia 50%
Tanami, Northern Territories 100%
Waihi, New Zealand 100%
------------------ ---
TOTAL ASIA PACIFIC
------------------
Africa
Ahafo Open Pits(13) 100%
Ahafo Stockpiles(6) 100%
Total Ahafo, Ghana 100%
Akyem, Ghana(14) 100%
---------------- ---
TOTAL AFRICA
------------
TOTAL NEWMONT WORLDWIDE
-----------------------
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December 31, 2010
-----------------
Deposits/Districts by
Reporting Unit Proven Reserves
---------------
Tonnage Grade Gold
(000 (000
tons) (oz/ton) ozs)
----- -------- -----
North America
Carlin Open Pits,
Nevada(2) 36,600 0.064 2,340
Carlin Underground,
Nevada 5,800 0.272 1,570
Midas, Nevada(3) 200 0.394 100
Phoenix, Nevada 0 0
Twin Creeks, Nevada 11,400 0.097 1,110
Turquoise Ridge,
Nevada(4) 1,400 0.458 640
Nevada In-Process(5) 28,500 0.022 610
Nevada Stockpiles(6) 33,900 0.077 2,630
Total Nevada 117,800 0.076 9,000
La Herradura, Mexico
(7) 44,600 0.023 1,010
-------------------- ------ ----- -----
TOTAL NORTH AMERICA 162,400 0.062 10,010
------------------- ------- ----- ------
SOUTH AMERICA
Conga, Peru(8) 0 0
Yanacocha Open Pits(9) 23,500 0.028 650
Yanacocha In-
Process(5) 21,300 0.025 540
Total Yanacocha, Peru 44,800 0.027 1,190
La Zanja, Peru(10) 10,100 0.018 180
------------------ ------ ----- ---
TOTAL SOUTH AMERICA 54,900 0.025 1,370
------------------- ------ ----- -----
Asia Pacific
Batu Hijau Open
Pit(11) 168,800 0.014 2,420
Batu Hijau
Stockpiles(6)(11) 0 0
Total Batu Hijau, Indonesia 168,800 0.014 2,420
Boddington, Western
Australia 181,900 0.021 3,760
Duketon, Western
Australia (12) 1,800 0.056 100
Jundee, Western
Australia 3,100 0.051 160
Kalgoorlie Open Pit
and Underground 15,000 0.061 910
Kalgoorlie
Stockpiles(6) 15,100 0.031 470
Total Kalgoorlie, Western
Australia 30,100 0.046 1,380
Tanami, Northern
Territories 6,400 0.151 970
Waihi, New Zealand 0 0
------------------ --- ---
TOTAL ASIA PACIFIC 392,100 0.022 8,790
------------------ ------- ----- -----
Africa
Ahafo Open Pits(13) 0 0
Ahafo Stockpiles(6) 14,100 0.033 460
Total Ahafo, Ghana 14,100 0.033 460
Akyem, Ghana(14) 0 0
---------------- --- ---
TOTAL AFRICA 14,100 0.033 460
------------ ------ ----- ---
TOTAL NEWMONT
WORLDWIDE 623,500 0.033 20,630
------------- ------- ----- ------
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December 31, 2010
-----------------
Deposits/Districts by
Reporting Unit Probable Reserves
-----------------
Tonnage Grade Gold
(000 (oz/ (000
tons) ton) ozs)
----- ----- -----
North America
Carlin Open Pits,
Nevada(2) 226,900 0.040 8,980
Carlin Underground,
Nevada 8,800 0.330 2,910
Midas, Nevada(3) 300 0.264 90
Phoenix, Nevada 329,800 0.018 6,090
Twin Creeks, Nevada 46,400 0.071 3,280
Turquoise Ridge,
Nevada(4) 1,700 0.456 770
Nevada In-Process(5) 0 0
Nevada Stockpiles(6) 2,800 0.028 80
Total Nevada 616,700 0.036 22,200
La Herradura, Mexico (7) 61,100 0.021 1,280
------------------------ ------ ----- -----
TOTAL NORTH AMERICA 677,800 0.035 23,480
------------------- ------- ----- ------
SOUTH AMERICA
Conga, Peru(8) 317,200 0.019 6,080
Yanacocha Open Pits(9) 118,800 0.032 3,790
Yanacocha In-Process(5) 0 0
Total Yanacocha, Peru 118,800 0.032 3,790
La Zanja, Peru(10) 10,500 0.016 160
------------------ ------ ----- ---
TOTAL SOUTH AMERICA 446,500 0.022 10,030
------------------- ------- ----- ------
Asia Pacific
Batu Hijau Open Pit(11) 124,600 0.006 700
Batu Hijau
Stockpiles(6)(11) 170,700 0.004 610
Total Batu Hijau, Indonesia 295,300 0.004 1,310
Boddington, Western
Australia 885,900 0.019 16,540
Duketon, Western
Australia (12) 4,500 0.055 250
Jundee, Western Australia 1,600 0.373 600
Kalgoorlie Open Pit and
Underground 40,700 0.059 2,390
Kalgoorlie Stockpiles(6) 0 0
Total Kalgoorlie, Western
Australia 40,700 0.059 2,390
Tanami, Northern
Territories 7,900 0.134 1,070
Waihi, New Zealand 4,200 0.110 460
------------------ ----- ----- ---
TOTAL ASIA PACIFIC 1,240,100 0.018 22,620
------------------ --------- ----- ------
Africa
Ahafo Open Pits(13) 148,300 0.064 9,540
Ahafo Stockpiles(6) 0 0
Total Ahafo, Ghana 148,300 0.064 9,540
Akyem, Ghana(14) 137,900 0.052 7,200
---------------- ------- ----- -----
TOTAL AFRICA 286,200 0.059 16,740
------------ ------- ----- ------
TOTAL NEWMONT WORLDWIDE 2,650,600 0.027 72,870
----------------------- --------- ----- ------
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<<
December 31, 2010
-----------------
Deposits/Districts by Proven and Probable
Reporting Unit Reserves
--------------------
Tonnage Grade Gold
(000 (oz/ (000
tons) ton) ozs)
----- ----- -----
North America
Carlin Open Pits,
Nevada(2) 263,500 0.043 11,320
Carlin Underground,
Nevada 14,600 0.307 4,480
Midas, Nevada(3) 500 0.319 190
Phoenix, Nevada 329,800 0.018 6,090
Twin Creeks, Nevada 57,800 0.076 4,390
Turquoise Ridge,
Nevada(4) 3,100 0.457 1,410
Nevada In-Process(5) 28,500 0.022 610
Nevada Stockpiles(6) 36,700 0.074 2,710
Total Nevada 734,500 0.042 31,200
La Herradura, Mexico
(7) 105,700 0.022 2,290
-------------------- ------- ----- -----
TOTAL NORTH AMERICA 840,200 0.040 33,490
------------------- ------- ----- ------
SOUTH AMERICA
Conga, Peru(8) 317,200 0.019 6,080
Yanacocha Open Pits(9) 142,300 0.031 4,440
Yanacocha In-
Process(5) 21,300 0.025 540
Total Yanacocha, Peru 163,600 0.030 4,980
La Zanja, Peru(10) 20,600 0.017 340
------------------ ------ ----- ---
TOTAL SOUTH AMERICA 501,400 0.023 11,400
------------------- ------- ----- ------
Asia Pacific
Batu Hijau Open
Pit(11) 293,400 0.011 3,120
Batu Hijau
Stockpiles(6)(11) 170,700 0.004 610
Total Batu Hijau, Indonesia 464,100 0.008 3,730
Boddington, Western
Australia 1,067,800 0.019 20,300
Duketon, Western
Australia (12) 6,300 0.055 350
Jundee, Western
Australia 4,700 0.160 760
Kalgoorlie Open Pit
and Underground 55,700 0.059 3,300
Kalgoorlie
Stockpiles(6) 15,100 0.031 470
Total Kalgoorlie, Western
Australia 70,800 0.053 3,770
Tanami, Northern
Territories 14,300 0.142 2,040
Waihi, New Zealand 4,200 0.110 460
------------------ ----- ----- ---
TOTAL ASIA PACIFIC 1,632,200 0.019 31,410
------------------ --------- ----- ------
Africa
Ahafo Open Pits(13) 148,300 0.064 9,540
Ahafo Stockpiles(6) 14,100 0.033 460
Total Ahafo, Ghana 162,400 0.062 10,000
Akyem, Ghana(14) 137,900 0.052 7,200
---------------- ------- ----- -----
TOTAL AFRICA 300,300 0.057 17,200
------------ ------- ----- ------
TOTAL NEWMONT
WORLDWIDE 3,274,100 0.029 93,500
------------- --------- ----- ------
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<<
December 31, 2010
-----------------
Metallurgical
Deposits/Districts by Reporting Unit Recovery
--------------
>>
<<
North America
Carlin Open Pits, Nevada(2) 75%
Carlin Underground, Nevada 88%
Midas, Nevada(3) 95%
Phoenix, Nevada 73%
Twin Creeks, Nevada 79%
Turquoise Ridge, Nevada(4) 92%
Nevada In-Process(5) 62%
Nevada Stockpiles(6) 78%
Total Nevada 78%
La Herradura, Mexico (7) 66%
------------------------ ---
TOTAL NORTH AMERICA 77%
------------------- ---
SOUTH AMERICA
Conga, Peru(8) 79%
Yanacocha Open Pits(9) 70%
Yanacocha In-Process(5) 74%
Total Yanacocha, Peru 71%
La Zanja, Peru(10) 66%
------------------ ---
TOTAL SOUTH AMERICA 75%
------------------- ---
Asia Pacific
Batu Hijau Open Pit(11) 78%
Batu Hijau Stockpiles(6)(11) 69%
Total Batu Hijau, Indonesia 76%
Boddington, Western Australia 82%
Duketon, Western Australia (12) 94%
Jundee, Western Australia 91%
Kalgoorlie Open Pit and Underground 85%
Kalgoorlie Stockpiles(6) 78%
Total Kalgoorlie, Western
Australia 84%
Tanami, Northern Territories 95%
Waihi, New Zealand 89%
------------------ ---
TOTAL ASIA PACIFIC 83%
------------------ ---
Africa
Ahafo Open Pits(13) 87%
Ahafo Stockpiles(6) 86%
Total Ahafo, Ghana 87%
Akyem, Ghana(14) 88%
---------------- ---
TOTAL AFRICA 88%
------------ ---
TOTAL NEWMONT WORLDWIDE 81%
----------------------- ---
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<<
December 31, 2009
-----------------
Deposits/Districts
by Reporting Unit Proven Probable Reserves
--------------------------
Tonnage Grade Gold
(oz/ (000
(000 tons) ton) ozs)
---------- ----- -----
North America
Carlin Open Pits,
Nevada(2) 259,300 0.044 11,400
Carlin Underground,
Nevada 9,700 0.311 2,990
Midas, Nevada(3) 700 0.425 300
Phoenix, Nevada 285,000 0.020 5,670
Twin Creeks, Nevada 50,200 0.077 3,850
Turquoise Ridge,
Nevada(4) 2,600 0.507 1,360
Nevada In-Process(5) 33,800 0.021 730
Nevada Stockpiles(6) 29,500 0.075 2,210
Total Nevada 670,800 0.042 28,510
La Herradura, Mexico
(7) 93,200 0.019 1,780
-------------------- ------ ----- -----
TOTAL NORTH AMERICA 764,000 0.040 30,290
------------------- ------- ----- ------
SOUTH AMERICA
Conga, Peru(8) 317,200 0.019 6,080
Yanacocha Open
Pits(9) 131,500 0.036 4,750
Yanacocha In-
Process(5) 26,400 0.025 660
Total Yanacocha, Peru 157,900 0.034 5,410
La Zanja, Peru(10) 18,800 0.018 340
------------------ ------ ----- ---
TOTAL SOUTH AMERICA 493,900 0.024 11,830
------------------- ------- ----- ------
Asia Pacific
Batu Hijau Open
Pit(11) 368,800 0.010 3,780
Batu Hijau
Stockpiles(6)(11) 193,800 0.004 720
Total Batu Hijau, Indonesia 562,600 0.008 4,500
Boddington, Western
Australia 966,400 0.022 20,960
Duketon, Western
Australia (12) 0 0
Jundee, Western
Australia 7,400 0.159 1,170
Kalgoorlie Open Pit
and Underground 60,800 0.062 3,750
Kalgoorlie
Stockpiles(6) 14,300 0.031 440
Total Kalgoorlie, Western
Australia 75,100 0.056 4,190
Tanami, Northern
Territories 13,100 0.125 1,640
Waihi, New Zealand 4,000 0.101 410
------------------ ----- ----- ---
TOTAL ASIA PACIFIC 1,628,600 0.020 32,870
------------------ --------- ----- ------
Africa
Ahafo Open Pits(13) 128,700 0.068 8,810
Ahafo Stockpiles(6) 9,300 0.034 320
Total Ahafo, Ghana 138,000 0.066 9,130
Akyem, Ghana(14) 147,200 0.052 7,660
---------------- ------- ----- -----
TOTAL AFRICA 285,200 0.059 16,790
------------ ------- ----- ------
TOTAL NEWMONT
WORLDWIDE 3,171,700 0.029 91,780
------------- --------- ----- ------
>>
<<
Reserves are calculated at a gold price of US$950, A$1100, or
NZ$1,350 per ounce unless otherwise noted. 2009 reserves were
calculated at a gold price of US$800, A$1000, or NZ$1,200 per
ounce unless otherwise noted. Tonnage amounts have been rounded to
the nearest 100,000 unless they are less than 50,000, and gold
ounces have been rounded to the nearest 10,000.
(2) Includes undeveloped reserves at the Emigrant deposits for combined
total undeveloped reserves of 1.2 million ounces.
(3) Also contains reserves of 2.8 million ounces of silver with a
metallurgical recovery of 88%.
(4) Reserve estimates provided by Barrick, the operator of the Turquoise
Ridge Joint Venture.
(5) In-process material is the material on leach pads at the end of each
year from which gold remains to be recovered. In-process material
reserves are reported separately where tonnage or contained ounces
are greater than 5% of the total site-reported reserves and
contained ounces are greater than 100,000.
(6) Stockpiles are comprised primarily of material that has been set
aside to allow processing of higher grade material in the mills.
Stockpiles increase or decrease depending on current mine plans.
Stockpile reserves are reported separately where tonnage or
contained ounces are greater than 5% of the total site-reported
reserves and contained ounces are greater than 100,000.
(7) Includes undeveloped reserves at Noche Buena totaling 0.3 million
attributable ounces.
(8) Deposit is currently undeveloped.
(9) Reserves include the currently undeveloped deposit at La Quinua Sur,
which contains reserves of 0.8 million attributable ounces.
(10) Reserves estimates were provided by Buenaventura, the operator of the
La Zanja project.
(11) Percentage reflects Newmont's economic interest at December 31, 2010.
In April 2010 our economic interest decreased from 52.44% to 48.50%
as a result of the divestiture required under the Contract of Work
(12) Reserve estimates provided by Regis Resources Ltd, in which Newmont
holds a 16.2% interest.
(13) Includes undeveloped reserves at Yamfo South, Yamfo Central, Techire
West, Subenso South, Subenso North, Yamfo Northeast, and Susuan
totaling 3.2 million ounces.
(14) Deposit is undeveloped.
>>
<<
Attributable Gold Mineralized Material Not in Reserves(1)(2)
>>
<<
December 31, 2010
-----------------
Deposits/Districts
Newmont
Share
>>
<<
North America
Buffalo Valley, Nevada 80%
Carlin Trend Open Pit, Nevada 100%
Carlin Trend Underground, Nevada 100%
Lone Tree Complex, Nevada 100%
Midas, Nevada 100%
Phoenix, Nevada 100%
Twin Creeks, Nevada 100%
Turquoise Ridge (3), Nevada 25%
Nevada Stockpiles (4), Nevada 100%
Total Nevada
La Herradura, Mexico 44%
-------------------- ---
TOTAL NORTH AMERICA
-------------------
SOUTH AMERICA
Conga, Peru 51.35%
Yanacocha, Peru 51.35%
Merian, Suriname 50%
La Zanja(5), Peru 46.94%
----------------- -----
TOTAL SOUTH AMERICA
-------------------
ASIA PACIFIC
Batu Hijau (6), Indonesia 48.50%
Boddington, Western Australia 100%
Jundee, Western Australia 100%
Kalgoorlie, Western Australia 50%
Tanami, Northern Territory 100%
Waihi, New Zealand 100%
------------------ ---
TOTAL ASIA PACIFIC
------------------
AFRICA
Ahafo, Ghana 100%
Akyem, Ghana 100%
------------ ---
TOTAL AFRICA
------------
TOTAL NEWMONT WORLDWIDE
-----------------------
>>
<<
December 31, 2010
-----------------
Measured
Deposits/Districts Material
--------
Tonnage Grade
(000 (oz/
tons) ton)
----- -----
North America
Buffalo Valley, Nevada 0
Carlin Trend Open Pit, Nevada 12,900 0.024
Carlin Trend Underground, Nevada 3,700 0.283
Lone Tree Complex, Nevada 0
Midas, Nevada 20 0.152
Phoenix, Nevada 0 0.000
Twin Creeks, Nevada 3,300 0.060
Turquoise Ridge (3), Nevada 300 0.422
Nevada Stockpiles (4), Nevada 1,100 0.077
Total Nevada 21,320 0.083
La Herradura, Mexico 8,500 0.018
-------------------- ----- -----
TOTAL NORTH AMERICA 29,820 0.065
------------------- ------ -----
SOUTH AMERICA
Conga, Peru 0
Yanacocha, Peru 4,300 0.012
Merian, Suriname 0
La Zanja(5), Peru 200
----------------- ---
TOTAL SOUTH AMERICA 4,500 0.012
------------------- ----- -----
ASIA PACIFIC
Batu Hijau (6), Indonesia 23,800 0.017
Boddington, Western Australia 39,300 0.014
Jundee, Western Australia 0
Kalgoorlie, Western Australia 1,900 0.064
Tanami, Northern Territory 0
Waihi, New Zealand 0
------------------ ---
TOTAL ASIA PACIFIC 65,000 0.016
------------------ ------ -----
AFRICA
Ahafo, Ghana 0
Akyem, Ghana 0
------------ ---
TOTAL AFRICA 0
------------ ---
TOTAL NEWMONT WORLDWIDE 99,320 0.031
----------------------- ------ -----
>>
<<
December 31, 2010
-----------------
Indicated
Deposits/Districts Material
----------
Tonnage Grade
(000 (oz/
tons) ton)
----- -----
North America
Buffalo Valley, Nevada 18,300 0.020
Carlin Trend Open Pit, Nevada 78,900 0.019
Carlin Trend Underground, Nevada 500 0.330
Lone Tree Complex, Nevada 4,200 0.022
Midas, Nevada 100 0.172
Phoenix, Nevada 150,900 0.013
Twin Creeks, Nevada 34,600 0.037
Turquoise Ridge (3), Nevada 400 0.392
Nevada Stockpiles (4), Nevada
Total Nevada 287,900 0.019
La Herradura, Mexico 27,600 0.007
-------------------- ------ -----
TOTAL NORTH AMERICA 315,500 0.018
------------------- ------- -----
SOUTH AMERICA
Conga, Peru 58,000 0.013
Yanacocha, Peru 120,400 0.021
Merian, Suriname 28,900 0.039
La Zanja(5), Peru 200 0.000
----------------- --- -----
TOTAL SOUTH AMERICA 207,500 0.016
------------------- ------- -----
ASIA PACIFIC
Batu Hijau (6), Indonesia 130,500 0.007
Boddington, Western Australia 420,500 0.013
Jundee, Western Australia 1,000 0.178
Kalgoorlie, Western Australia 45,000 0.023
Tanami, Northern Territory 900 0.067
Waihi, New Zealand 0
------------------ ---
TOTAL ASIA PACIFIC 597,900 0.013
------------------ ------- -----
AFRICA
Ahafo, Ghana 81,000 0.042
Akyem, Ghana 14,900 0.019
------------ ------ -----
TOTAL AFRICA 95,900 0.038
------------ ------ -----
TOTAL NEWMONT WORLDWIDE 1,216,800 0.018
----------------------- --------- -----
>>
<<
December 31, 2010
-----------------
Measured
Indicated
Deposits/Districts Material
-----------
Tonnage Grade
(000 (oz/
tons) ton)
----- -----
North America
Buffalo Valley, Nevada 18,300 0.020
Carlin Trend Open Pit, Nevada 91,800 0.020
Carlin Trend Underground, Nevada 4,200 0.29
Lone Tree Complex, Nevada 4,200 0.022
Midas, Nevada 120 0.167
Phoenix, Nevada 150,900 0.013
Twin Creeks, Nevada 37,900 0.039
Turquoise Ridge (3), Nevada 700 0.406
Nevada Stockpiles (4), Nevada 1,100 0.077
Total Nevada 309,220 0.024
La Herradura, Mexico 36,100 0.010
-------------------- ------ -----
TOTAL NORTH AMERICA 345,320 0.022
------------------- ------- -----
SOUTH AMERICA
Conga, Peru 58,000 0.013
Yanacocha, Peru 124,700 0.021
Merian, Suriname 28,900 0.039
La Zanja(5), Peru 400 0.000
----------------- --- -----
TOTAL SOUTH AMERICA 212,000 0.016
------------------- ------- -----
ASIA PACIFIC
Batu Hijau (6), Indonesia 154,300 0.008
Boddington, Western Australia 459,800 0.013
Jundee, Western Australia 1,000 0.178
Kalgoorlie, Western Australia 46,862 0.025
Tanami, Northern Territory 900 0.067
Waihi, New Zealand 0
------------------ ---
TOTAL ASIA PACIFIC 662,862 0.013
------------------ ------- -----
AFRICA
Ahafo, Ghana 81,000 0.042
Akyem, Ghana 14,900 0.019
------------ ------ -----
TOTAL AFRICA 95,900 0.038
------------ ------ -----
TOTAL NEWMONT WORLDWIDE 1,316,082 0.019
----------------------- --------- -----
>>
<<
December 31, 2010
-----------------
Inferred
Deposits/Districts Material
--------
Tonnage Grade
(000 (oz/
tons) ton)
----- -----
North America
Buffalo Valley, Nevada 900 0.017
Carlin Trend Open Pit, Nevada 22,100 0.024
Carlin Trend Underground, Nevada 1,300 0.345
Lone Tree Complex, Nevada 0
Midas, Nevada 0 0.214
Phoenix, Nevada 54,300 0.015
Twin Creeks, Nevada 12,000 0.019
Turquoise Ridge (3), Nevada 1,200 0.494
Nevada Stockpiles (4), Nevada 2,300 0.043
Total Nevada 94,100 0.029
La Herradura, Mexico 20,900 0.014
-------------------- ------ -----
TOTAL NORTH AMERICA 115,000 0.026
------------------- ------- -----
SOUTH AMERICA
Conga, Peru 79,000 0.011
Yanacocha, Peru 23,000 0.018
Merian, Suriname 18,400 0.036
La Zanja(5), Peru 3,800 0.014
----------------- ----- -----
TOTAL SOUTH AMERICA 124,200 0.011
------------------- ------- -----
ASIA PACIFIC
Batu Hijau (6), Indonesia 47,700 0.002
Boddington, Western Australia 160,200 0.014
Jundee, Western Australia 3,600 0.077
Kalgoorlie, Western Australia 1,100 0.146
Tanami, Northern Territory 10,300 0.170
Waihi, New Zealand 300 0.140
------------------ --- -----
TOTAL ASIA PACIFIC 223,200 0.021
------------------ ------- -----
AFRICA
Ahafo, Ghana 39,900 0.084
Akyem, Ghana 1,900 0.032
------------ ----- -----
TOTAL AFRICA 41,800 0.082
------------ ------ -----
TOTAL NEWMONT WORLDWIDE 504,200 0.026
----------------------- ------- -----
>>
<<
(1) Mineralized material is reported exclusive of reserves.
(2) Mineralized Material calculated at a gold price of US$950, A$1,200,
or NZ$1,400 per ounce unless otherwise noted. 2009 Mineralized
material was calculated at a gold price of US$850, A$1,000, or
NZ$1,175 per ounce. Tonnage amounts have been rounded to the nearest
100,000.
(3) Mineralized material estimates were provided by Barrick, the operator
of the Turquoise Ridge Joint Venture.
(4) Stockpiles are comprised primarily of material that has been set
aside to allow processing of higher grade material in the mills.
Stockpiles increase or decrease depending on current mine plans.
(5) Mineralized material estimates were provided by Buenaventura, the
operator of the La Zanja Project.
(6) Percentage reflects Newmont's economic interest at December 31, 2009.
In November and December 2009 our
economic interest increased from 45% to 52.44% as a result of
transactions with a noncontrolling partner, partially
offset by divestiture required under the Contract of Work.
>>
<<
Attributable Copper Reserves(1)
December 31, 2010
>>
Deposits/Districts Newmont Share
<<
North America
Phoenix, Nevada 100%
Phoenix Copper Leach, Nevada
(2) 100%
----------------------------- ---
TOTAL NORTH AMERICA
-------------------
South America
Conga, Peru(3) 51.35%
-------------- -----
TOTAL SOUTH AMERICA
-------------------
Asia Pacific
Batu Hijau(3) 48.50%
Batu Hijau, Stockpiles(3)(4) 48.50%
Batu Hijau, Indonesia 48.50%
Boddington, Western Australia
(5) 100.00%
------------------------------ ------
TOTAL ASIA PACIFIC
------------------
TOTAL NEWMONT WORLDWIDE
-----------------------
>>
<<
Proven Reserves
---------------
Deposits/Districts Tonnage Grade Copper
(million
(000 tons) (Cu%) pounds)
---------- ----- ---------
North
America
Phoenix, Nevada 0 0
Phoenix Copper Leach, Nevada
(2) 0 0
----------------------------- --- ---
TOTAL
NORTH
AMERICA 0 0
-------- --- ---
South
America
Conga, Peru(3) 0 0
-------------- --- ---
TOTAL
SOUTH
AMERICA 0 0
-------- --- ---
Asia
Pacific
Batu Hijau(3) 168,800 0.50% 1,700
Batu Hijau, Stockpiles(3)(4) 0 0
Batu Hijau, Indonesia 168,800 0.50% 1,700
Boddington, Western Australia
(5) 181,900 0.10% 380
------------------------------ ------- ---- ---
TOTAL ASIA
PACIFIC 350,700 0.30% 2,080
---------- ------- ---- -----
TOTAL
NEWMONT
WORLDWIDE 350,700 0.30% 2,080
---------- ------- ---- -----
>>
<<
Probable Reserves
-----------------
Deposits/Districts Tonnage Grade Copper
(million
(000 tons) (Cu%) pounds)
---------- ----- ---------
North
America
Phoenix, Nevada 332,600 0.15% 1,030
Phoenix Copper Leach, Nevada
(2) 132,900 0.23% 610
----------------------------- ------- ---- ---
TOTAL
NORTH
AMERICA 465,500 0.18% 1,640
-------- ------- ---- -----
South
America
Conga, Peru(3) 317,200 0.26% 1,660
-------------- ------- ---- -----
TOTAL
SOUTH
AMERICA 317,200 0.26% 1,660
-------- ------- ---- -----
Asia
Pacific
Batu Hijau(3) 124,600 0.34% 860
Batu Hijau, Stockpiles(3)(4) 170,700 0.35% 1,200
Batu Hijau, Indonesia 295,300 0.35% 2,060
Boddington, Western Australia
(5) 885,900 0.11% 1,980
------------------------------ ------- ---- -----
TOTAL
ASIA
PACIFIC 1,181,200 0.17% 4,040
-------- --------- ---- -----
TOTAL
NEWMONT
WORLDWIDE 1,963,900 0.19% 7,340
---------- --------- ---- -----
>>
<<
Proven Probable Reserves
--------------------------
Deposits/Districts Tonnage Grade Copper
(million
(000 tons) (Cu%) pounds)
---------- ----- ---------
North
America
Phoenix, Nevada 332,600 0.15% 1,030
Phoenix Copper Leach, Nevada
(2) 132,900 0.23% 610
----------------------------- ------- ---- ---
TOTAL
NORTH
AMERICA 465,500 0.18% 1,640
-------- ------- ---- -----
South
America
Conga, Peru(3) 317,200 0.26% 1,660
-------------- ------- ---- -----
TOTAL
SOUTH
AMERICA 317,200 0.26% 1,660
-------- ------- ---- -----
Asia
Pacific
Batu Hijau(3) 293,400 0.44% 2,560
Batu Hijau, Stockpiles(3)(4) 170,700 0.35% 1,200