Newmont Reports 2018 Reserves and Resources; Delivered 6.7Mozs of Reserves through exploration, Resources increase

Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) reported gold Reserves of 65.4 million attributable ounces for 2018 compared to 68.5 million ounces at the end of 2017. New additions of 6.7 million ounces exceeded the Companys target, but were offset by negative revisions of 3.6 million ounces and depletion of 6.1 million ounces. Gold Resources1 increased significantly to 55.0 million ounces in 2018 compared to 48.2 million ounces in 2017 at a constant gold price.

The Company outperformed its exploration target, adding 6.7 million ounces of gold Reserves by the drill bit, demonstrating the success of Newmonts exploration program. Revisions of 3.6 million ounces were largely driven by model changes at Phoenix and cost and pit design changes at Carlin. Newmont reported 5.1 million ounces of attributable mine production in 2018 resulting in 6.1 million contained ounces of reserve depletion.

Notable reserve additions for the year include a first-time declaration of 2.2 million equity ounces from the Yanacocha Sulfides project, 0.8 million ounces each at Tanami and Cripple Creek & Victor (CC&V), 0.6 million ounces at Ahafo Open Pits, 0.5 million ounces at Carlin Underground and 0.4 million equity ounces at Turquoise Ridge.

The Companys average gold Reserve grade increased four percent to 1.19 grams per tonne compared to 1.14 grams per tonne in the prior year, largely due to higher grade additions at Yanacocha Sulfides, Tanami, and Carlin Underground.

Newmonts gold Resources increased significantly to 55.0 million ounces, up 14 percent from 48.2 million ounces in 2017 at a constant gold price, and more than offsetting the conversion of Resource ounces to Reserves. Positive changes to the Companys resource base included 9.5 million ounces added through exploration and studies and 5.3 million ounces through the acquisition of a 50 percent interest in the Galore Creek project. These additions were offset by the conversion of 7.7 million ounces to Reserves, along with net negative revisions of 2.2 million ounces primarily driven by Phoenix.

Notable resource additions include 1.8 million equity ounces at KCGM, 1.6 million ounces at Tanami, 1.0 million equity ounces at Yanacocha, 0.8 million equity ounces at Merian, 0.8 million ounces each at Boddington and CC&V and 0.5 million ounces at Ahafo Open Pits.

Newmonts gold Resource grade decreased to 0.76 grams per tonne compared to 0.92 grams per tonne in the prior year, largely due to the acquisition of Galore Creek and lower grade additions from Boddington.

The Company reported attributable Measured and Indicated2 gold resources of 39.4 million ounces, up 15 percent from the prior year, and 15.6 million ounces of attributable Inferred gold resources, an increase of 12 percent from the prior year.

Copper

The Company increased copper Reserves by seven percent to 1.3 million tonnes and copper Resources3 increased significantly to 4.7 million tonnes, as compared to 2.3 million tonnes at the end of 2017. The increase was largely driven by the Galore Creek acquisition of 2.8 million tonnes.

Exploration Outlook

Newmonts total attributable exploration expenditure4 is expected to increase to approximately $250 million in 2019, up nine percent from the prior year as the Company continues to focus on growing reserves and resources over the longer term. Around 75 percent of total exploration spend will be dedicated to near-mine expansion programs and the remaining 25 percent will be allocated to the advancement of greenfield projects and innovation programs. Geographically, the Company expects to invest approximately 35 percent in North America, 20 percent in Australia and the remainder in South America, Africa and other locations.

Gold Reserve Sensitivity

A $100 increase in gold price would result in an approximate seven percent increase in gold reserves while a $100 decrease in gold price would result in an approximate 13 percent decrease in gold reserves. These sensitivities assume an oil price of $65 per barrel (WTI) and an Australian dollar exchange rate of $0.75.

____________________

1

 

Resources include measured, indicated and inferred resources; see cautionary statement at the end of this release regarding reserves and resources. See Attributable Gold Mineral Resources tables at the end of this release.

2

Totals may not sum due to rounding; see Attributable Gold Mineral Resources tables at the end of this release

3

Resources include measured, indicated and inferred resources; see cautionary statement at the end of this release regarding reserves and resources. See Attributable Copper Mineral Resources tables at the end of this release.

4

Includes capitalized and expensed exploration

 

For additional details on Newmonts reported Gold, Copper and Silver Mineral Reserves and Resources, please refer to the tables at the end of this release.

Key Assumptions:

            Years Ended December 31,
2018     2017
Gold Reserves (US$/oz) $1,200 $1,200
Gold Resources (US$/oz) $1,400 $1,400
Copper Reserves (US$/lb) $2.50 $2.50
Copper Resources (US$/lb) $3.25 $3.25
Australian Dollar (A$:US$) $0.75 $0.75
West Texas Intermediate (US$/bbl) $65 $55
 

Reserve and Resource Tables

Proven and Probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determine economic feasibility. Metal price assumptions follow SEC guidance not to exceed a three year trailing average. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables included in this release list the average metallurgical recovery rate for each deposit, which takes into account the assumed processing methods. The cut-off grade, or lowest grade of material considered economic to process, varies with material type, price, metallurgical recoveries, operating costs and co- or by-product credits. The Proven and Probable reserve figures presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold and copper will be realized. Ounces of gold and silver or pounds of copper included in the proven and probable reserves are those contained prior to losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold or copper, as well as increased production costs or reduced metallurgical recovery rates, could render certain proven and probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves.

The Measured, Indicated, and Inferred resource figures presented herein are estimates based on information available at the time of calculation and are exclusive of reserves. A Mineral Resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form, grade, or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. Ounces of gold and silver or pounds of copper included in the Measured, Indicated and Inferred resources are those contained prior to losses during metallurgical treatment. Market fluctuations in the price of gold and copper, as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources. Please refer to the reserves and resources cautionary statement at the end of the release.

We publish reserves and resources annually, and will recalculate reserves and resources at year-end 2019, taking into account metal prices, changes, if any, in future production and capital costs, mine designs, model changes, divestments and depletion as well as any acquisitions and additions during 2019.

 
Attributable Proven, Probable and Combined Gold Reserves (1), U.S. Units

 

   

December 31, 2018

  December 31, 2017
      Proven Reserves   Probable Reserves   Proven and Probable Reserves   Proven and Probable Reserves
Newmont Tonnage (2)   Grade   Gold (3) Tonnage (2)   Grade   Gold (3) Tonnage (2)   Grade   Gold (3) Metallurgical Tonnage (2)   Grade   Gold (3)
Deposits/Districts Share (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs) Recovery (3) (x1000 tons) (oz/ton) (x1000 ozs)
North America
Carlin Open Pits (4) 100 % 1,700 0.088 140 118,200 0.047 5,550 119,900 0.048 5,690 73 % 190,600 0.041 7,760
Carlin Leach Pad (5) 100 % 73,500 0.009 650 73,500 0.009 650 51 % 67,400 0.009 580
Carlin Stockpiles (6) 100 % 18,700 0.067 1,250 18,700 0.067 1,250 84 % 18,900 0.062 1,180
Carlin Underground (7) 100 % 8,400 0.305 2,580 7,900 0.293 2,290 16,300 0.300 4,870 83 % 18,400 0.291 5,310
Total Carlin, Nevada 28,800 0.138 3,970 199,600 0.043 8,490 228,400 0.055 12,460 77 % 295,300 0.050 14,830
Phoenix (8) 100 % 13,200 0.022 290 133,200 0.019 2,530 146,400 0.019 2,820 70 % 249,900 0.016 4,030
Lone Tree 100 % 3,900 0.008 30 3,900 0.008 30 32 % 3,700 0.007 20
Total Phoenix, Nevada 17,100 0.019 320 133,200 0.019 2,530 150,300 0.019 2,850 70 % 253,600 0.016 4,050
Turquoise Ridge (9) 25 % 3,300 0.397 1,310 2,700 0.355 960 6,000 0.378 2,270 92 % 4,400 0.454 1,980
Twin Creeks (10) 100 % 1,400 0.086 110 26,000 0.047 1,220 27,400 0.049 1,330 77 % 31,900 0.044 1,400
Twin Creeks Stockpiles (6) 100 % 31,300 0.061 1,910 31,300 0.061 1,910 71 % 31,900 0.063 2,010
Total Twin Creeks, Nevada 4,700 0.302 1,420 60,000 0.068 4,090 64,700 0.085 5,510 81 % 68,200 0.079 5,390
Long Canyon, Nevada (11) 100 % 700 0.064 50 23,900 0.038 920 24,600 0.039 970 76 % 21,600 0.049 1,070
CC&V (12) 100 % 123,000 0.016 1,940 30,900 0.013 400 153,900 0.015 2,340 59 % 125,500 0.017 2,090
CC&V Leach Pads (5) 100 % 41,900 0.025 1,050 41,900 0.025 1,050 57 % 45,800 0.025 1,140
CC&V Stockpiles (6) 100 % 900 0.070 60 900 0.070 60 82 % 2,900 0.084 250
Total CC&V, Colorado 123,900 0.016 2,000 72,800 0.020 1,450 196,700 0.018 3,450 59 % 174,200 0.020 3,480
TOTAL NORTH AMERICA 175,200 0.044 7,760 489,500 0.036 17,480 664,700 0.038 25,240 78 % 812,900 0.035 28,820
South America
Yanacocha Open Pits (13) 51.35 % 7,500 0.020 150 111,500 0.019 2,060 119,000 0.019 2,210 64 % 93,000 0.018 1,720
Yanacocha Leach Pads (5) 51.35 % 7,200 0.022 160 7,200 0.022 160 70 % 6,300 0.022 130
Yanacocha Stockpiles (6) 51.35 % 2,300 0.035 80 1,600 0.056 90 3,900 0.044 170 80 % 5,100 0.042 220
Yanacocha Underground (14) 51.35 % 6,200 0.204 1,270 6,200 0.204 1,270 97 %
Total Yanacocha, Peru (23) 17,000 0.023 390 119,300 0.029 3,420 136,300 0.028 3,810 76 % 104,400 0.020 2,070
Merian, Suriname (15) 75 % 39,200 0.044 1,720 63,400 0.032 2,010 102,600 0.036 3,730 93 % 111,600 0.036 3,970
TOTAL SOUTH AMERICA 56,200 0.038 2,110 182,700 0.030 5,430 238,900 0.032 7,540 82 % 216,000 0.028 6,040
Australia
Boddington Open Pit (16) 100 % 264,900 0.021 5,520 265,000 0.021 5,470 529,900 0.021 10,990 83 % 546,500 0.021 11,250
Boddington Stockpiles (6) 100 % 7,600 0.020 150 94,800 0.013 1,210 102,400 0.013 1,360 77 % 104,500 0.013 1,400
Total Boddington, Western Australia 272,500 0.021 5,670 359,800 0.019 6,680 632,300 0.020 12,350 83 % 651,000 0.019 12,650
Tanami, Northern Territory (17) 100 % 11,200 0.159 1,780 18,000 0.162 2,910 29,200 0.161 4,690 97 % 26,400 0.166 4,410
Kalgoorlie Open Pit and Underground (18) 50 % 4,600 0.059 270 27,500 0.063 1,720 32,100 0.062 1,990 83 % 33,800 0.063 2,140
Kalgoorlie Stockpiles (6) 50 % 18,400 0.030 560 55,800 0.020 1,100 74,200 0.022 1,660 74 % 75,400 0.023 1,730
Total Kalgoorlie, Western Australia 23,000 0.036 830 83,300 0.034 2,820 106,300 0.034 3,650 79 % 109,200 0.035 3,870
TOTAL AUSTRALIA 306,700 0.027 8,280 461,100 0.027 12,410 767,800 0.027 20,690 84 % 786,600 0.027 20,930
Africa
Ahafo South Open Pits (19) 100 % 17,600 0.070 1,230 53,600 0.054 2,870 71,200 0.058 4,100 91 % 71,300 0.053 3,760
Ahafo Underground (20) 100 % 8,300 0.138 1,150 8,300 0.138 1,150 94 % 11,600 0.136 1,590
Ahafo Stockpiles (6) 100 % 41,700 0.027 1,130 41,700 0.027 1,130 87 % 41,300 0.028 1,160
Total Ahafo South, Ghana 59,300 0.040 2,360 61,900 0.065 4,020 121,200 0.053 6,380 91 % 124,200 0.052 6,510
Ahafo North, Ghana (21) 100 % 48,000 0.070 3,350 48,000 0.070 3,350 91 % 48,000 0.070 3,350
Akyem Open Pit (22) 100 % 9,100 0.049 450 28,600 0.049 1,410 37,700 0.049 1,860 90 % 51,600 0.048 2,500
Akyem Stockpiles (6) 100 % 14,300 0.026 380 14,300 0.026 380 89 % 11,200 0.028 320
Total Akyem, Ghana 23,400 0.035 830 28,600 0.049 1,410 52,000 0.043 2,240 89 % 62,800 0.045 2,820
TOTAL AFRICA 82,700 0.038 3,190 138,500 0.063 8,780 221,200 0.054 11,970 91 % 235,000 0.054 12,680
TOTAL NEWMONT WORLDWIDE 620,800 0.034 21,340 1,271,800 0.035 44,100 1,892,600 0.035 65,440 83 % 2,050,500 0.033 68,470

(1)

 

See cautionary statement regarding reserves and resources at the end of this release. 2018 and 2017 reserves were calculated at a gold price of $1,200, or A$1,600 per ounce unless otherwise noted.

(2)

Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to the nearest 100,000.

(3)

Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 10,000.

(4)

Cut-off grades utilized in 2018 reserves were as follows: oxide leach material not less than 0.006 ounce per ton; oxide mill material not less than 0.030 ounce per ton; flotation material not less than 0.016 ounce per ton; and refractory mill material not less than 0.041 ounce per ton.

(5)

Leach pad material is the material on leach pads at the end of the year from which gold remains to be recovered. In-process reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.

(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 ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.

(7)

Cut-off grade utilized in 2018 reserves not less than 0.048 ounce per ton.

(8)

Gold cut-off grade varies with level of copper and silver credits.

(9)

Reserve estimates provided by Barrick, the operator of the Turquoise Ridge joint venture, as of February 13, 2019.

(10)

Cut-off grades utilized in 2018 reserves were as follows: oxide leach material not less than 0.008 ounce per ton; oxide mill material not less than 0.016 ounce per ton; and refractory mill material not less than 0.046 ounce per ton.

(11)

Cut-off grade utilized in 2018 reserves not less than 0.007 ounce per ton.

(12)

Cut-off grades utilized in 2018 reserves were as follows: oxide mill material not less than 0.040 ounce per ton and leach material not less than 0.007 ounce per ton.

(13)

Gold cut-off grades utilized in 2018 reserves were as follows: oxide leach material not less than 0.004 ounce per ton; oxide mill material not less than 0.013 ounce per ton; and refractory mill material not less than 0.040 ounce per ton.

(14)

Gold cut-off grades utilized in 2018 reserves not less than 0.054 ounce per ton.

(15)

Cut-off grade utilized in 2018 reserves not less than 0.010 ounce per ton.

(16)

Gold cut-off grade varies with level of copper credits.

(17)

Cut-off grade utilized in 2018 reserves not less than 0.047 ounce per ton.

(18)

Cut-off grade utilized in 2018 in situ reserves not less than 0.026 ounce per ton.

(19)

Cut-off grade utilized in 2018 reserves not less than 0.019 ounce per ton.

(20)

Cut-off grade utilized in 2018 reserves not less than 0.064 ounce per ton.

(21)

Includes undeveloped reserves at six pits in the Ahafo trend totaling 3.4 million ounces. Cut-off grade utilized in 2018 reserves not less than 0.014 ounce per ton.

(22)

Cut-off grade utilized in 2018 reserves not less than 0.016 ounce per ton.

(23)

2017 Yanacocha ownership was 54.05%.
 
Attributable Proven, Probable and Combined Gold Reserves (1), Metric Units

 

   

December 31, 2018

  December 31, 2017
      Proven Reserves   Probable Reserves   Proven and Probable Reserves   Proven and Probable Reserves
Newmont Tonnage (2)   Grade   Gold (3) Tonnage (2)   Grade   Gold (3) Tonnage (2)   Grade   Gold (3) Metallurgical Tonnage (2)   Grade   Gold (3)
Deposits/Districts Share (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs) Recovery (x1000 tonnes) (g/tonne) (x1000 ozs)
North America
Carlin Open Pits 100 % 1,500 3.00 140 107,200 1.61 5,550 108,700 1.63 5,690 73 % 172,800 1.40 7,760
Carlin Leach Pad (5) 100 % 66,800 0.30 650 66,800 0.30 650 51 % 61,200 0.30 580
Carlin Stockpiles (6) 100 % 16,900 2.30 1,250 16,900 2.30 1,250 84 % 17,200 2.14 1,180
Carlin Underground 100 % 7,700 10.47 2,580 7,100 10.05 2,290 14,800 10.27 4,870 83 % 16,400 9.96 5,310
Total Carlin, Nevada 26,100 4.73 3,970 181,100 1.46 8,490 207,200 1.87 12,460 77 % 267,600 1.72 14,830
Phoenix 100 % 12,000 0.76 290 120,800 0.65 2,530 132,800 0.66 2,820 70 % 226,600 0.55 4,030
Lone Tree 100 % 3,600 0.29 30 3,600 0.29 30 32 % 3,400 0.25 20
Total Phoenix, Nevada 15,600 0.64 320 120,800 0.65 2,530 136,400 0.65 2,850 70 % 230,000 0.55 4,050
Turquoise Ridge (9) 25 % 3,000 13.62 1,310 2,500 12.16 960 5,500 12.97 2,270 92 % 3,900 15.56 1,980
Twin Creeks 100 % 1,300 2.96 110 23,600 1.61 1,220 24,900 1.66 1,330 77 % 28,900 1.51 1,400
Twin Creeks Stockpiles (6) 100 % 28,400 2.09 1,910 28,400 2.09 1,910 71 % 29,000 2.16 2,010
Total Twin Creeks, Nevada 4,300 10.27 1,420 54,500 2.33 4,090 58,800 2.91 5,510 81 % 61,800 2.71 5,390
Long Canyon, Nevada 100 % 600 2.18 50 21,700 1.31 920 22,300 1.34 970 76 % 19,700 1.68 1,070
CC&V 100 % 111,400 0.54 1,940 28,100 0.45 400 139,500 0.52 2,340 59 % 114,000 0.57 2,090
CC&V Leach Pads (5) 100 % 38,100 0.86 1,050 38,100 0.86 1,050 57 % 41,500 0.86 1,140
CC&V Stockpiles (6) 100 % 800 2.41 60 800 2.41 60 82 % 2,700 2.89 250
Total CC&V, Colorado 112,200 0.56 2,000 66,200 0.68 1,450 178,400 0.60 3,450 59 % 158,200 0.69 3,480
TOTAL NORTH AMERICA 158,800 1.53 7,760 444,300 1.22 17,480 603,100 1.30 25,240 78 % 737,300 1.22 28,820
South America
Yanacocha Open Pits 51.35 % 6,700 0.68 150 101,100 0.64 2,060 107,800 0.64 2,210 64 % 84,200 0.63 1,720
Yanacocha Leach Pads (5) 51.35 % 6,500 0.75 160 6,500 0.75 160 70 % 5,700 0.75 130
Yanacocha Stockpiles (6) 51.35 % 2,100 1.21 80 1,500 1.91 90 3,600 1.50 170 80 % 4,700 1.44 220
Yanacocha Underground 51.35 % 5,700 6.98 1,270 5,700 6.98 1,270 97 %
Total Yanacocha, Peru (23) 15,300 0.79 390 108,300 0.98 3,420 123,600 0.96 3,810 76 % 94,600 0.68 2,070
Merian, Suriname 75 % 35,600 1.51 1,720 57,500 1.09 2,010 93,100 1.25 3,730 93 % 101,200 1.22 3,970
TOTAL SOUTH AMERICA 50,900 1.29 2,110 165,800 1.02 5,430 216,700 1.08 7,540 82 % 195,800 0.96 6,040
Australia
Boddington Open Pit 100 % 240,400 0.71 5,520 240,300 0.71 5,470 480,700 0.71 10,990 83 % 495,900 0.71 11,250
Boddington Stockpiles (6) 100 % 6,900 0.67 150 86,100 0.44 1,210 93,000 0.45 1,360 77 % 94,900 0.46 1,400
Total Boddington, Western Australia 247,300 0.71 5,670 326,400 0.64 6,680 573,700 0.67 12,350 83 % 590,800 0.67 12,650
Tanami, Northern Territory 100 % 10,200 5.46 1,780 16,400 5.54 2,910 26,600 5.51 4,690 97 % 24,100 5.69 4,410
Kalgoorlie Open Pit and Underground 50 % 4,100 2.03 270 24,900 2.14 1,720 29,000 2.13 1,990 83 % 30,700 2.17 2,140
Kalgoorlie Stockpiles (6) 50 % 16,700 1.04 560 50,600 0.68 1,100 67,300 0.77 1,660 74 % 68,300 0.78 1,730
Total Kalgoorlie, Western Australia 20,800 1.23 830 75,500 1.16 2,820 96,300 1.18 3,650 79 % 99,000 1.21 3,870
TOTAL AUSTRALIA 278,300 0.92 8,280 418,300 0.92 12,410 696,600 0.92 20,690 84 % 713,900 0.91 20,930
Africa
Ahafo South Open Pits 100 % 15,900 2.40 1,230 48,700 1.83 2,870 64,600 1.97 4,100 91 % 64,900 1.81 3,760
Ahafo Underground 100 % 7,500 4.74 1,150 7,500 4.74 1,150 94 % 10,500 4.67 1,590
Ahafo Stockpiles (6) 100 % 38,000 0.92 1,130 38,000 0.92 1,130 87 % 37,600 0.95 1,160
Total Ahafo South, Ghana 53,900 1.36 2,360 56,200 2.22 4,020 110,100 1.80 6,380 91 % 113,000 1.79 6,510
Ahafo North, Ghana 100 % 43,500 2.39 3,350 43,500 2.39 3,350 91 % 43,500 2.39 3,350
Akyem Open Pit 100 % 8,200 1.69 450 26,000 1.69 1,410 34,200 1.69 1,860 90 % 46,900 1.66 2,500
Akyem Stockpiles (6) 100 % 12,900 0.90 380 12,900 0.90 380 89 % 10,200 0.95 320
Total Akyem, Ghana 21,100 1.21 830 26,000 1.69 1,410 47,100 1.47 2,240 89 % 57,100 1.53 2,820
TOTAL AFRICA 75,000 1.32 3,190 125,700 2.17 8,780 200,700 1.85 11,970 91 % 213,600 1.84 12,680
TOTAL NEWMONT WORLDWIDE 563,000 1.18 21,340 1,154,100 1.19 44,100 1,717,100 1.19 65,440 83 % 1,860,600 1.14 68,470

See Footnotes under Gold Reserves U.S. units table. Note that cut off grades in such footnotes are represented in U.S. units

 
Attributable Gold Mineral Resources (1)(2) – December 31, 2018, U.S. Units
      Measured Resource   Indicated Resource   Measured and Indicated Resource (3)   Inferred Resource
Newmont Tonnage   Grade   Gold Tonnage   Grade   Gold Tonnage   Grade   Gold Tonnage   Grade   Gold
Deposits/Districts Share (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs)
North America
Carlin Trend Open Pit 100 % 1,100 0.084 90 110,400 0.037 4,090 111,500 0.038 4,180 10,500 0.029 310
Carlin Trend Underground 100 % 1,000 0.214 220 2,600 0.162 440 3,600 0.176 660 2,600 0.279 740
Total Carlin, Nevada 2,100 0.148 310 113,000 0.040 4,530 115,100 0.042 4,840 13,100 0.080 1,050
Phoenix 100 % 7,000 0.015 100 106,700 0.014 1,530 113,700 0.014 1,630 16,100 0.019 300
Buffalo Valley 70 % 0.000 15,500 0.019 290 15,500 0.019 290 400 0.011
Total Phoenix, Nevada 7,000 0.015 100 122,200 0.015 1,820 129,200 0.015 1,920 16,500 0.018 300
Twin Creeks 100 % 1,900 0.083 150 34,600 0.062 2,150 36,500 0.063 2,300 14,200 0.050 710
Twin Creeks Stockpiles (4) 100 % 9,000 0.059 530 0.000 9,000 0.059 530 0.000
Sandman 100 % 0.000 1,300 0.036 50 1,300 0.036 50 1,100 0.054 60
Turquoise Ridge (5) 25 % 1,100 0.225 240 900 0.240 210 2,000 0.231 450 700 0.348 240
Total Twin Creeks, Nevada 12,000 0.077 920 36,800 0.065 2,410 48,800 0.068 3,330 16,000 0.063 1,010
Long Canyon, Nevada 100 % 600 0.112 60 15,400 0.102 1,570 16,000 0.103 1,630 6,200 0.057 350
CC&V, Colorado 100 % 46,900 0.016 750 30,900 0.014 450 77,800 0.015 1,200 17,300 0.013 200
Galore Creek, Canada (6) 50 % 141,500 0.011 1,510 466,800 0.007 3,120 608,300 0.008 4,630 109,200 0.006 670
TOTAL NORTH AMERICA 210,100 0.017 3,650 785,100 0.018 13,900 995,200 0.018 17,550 178,300 0.020 3,580
South America
Conga, Peru 51.35 % 0.000 392,700 0.019 7,490 392,700 0.019 7,490 130,500 0.011 1,480
Yanacocha 51.35 % 6,200 0.015 90 36,500 0.011 410 42,700 0.012 500 100,200 0.025 2,480
Yanacocha Underground 51.35 % 0.000 2,500 0.161 390 2,500 0.161 390 4,500 0.103 460
Total Yanacocha, Peru 6,200 0.015 90 39,000 0.021 800 45,200 0.020 890 104,700 0.028 2,940
Merian, Suriname 75 % 3,900 0.028 110 33,500 0.034 1,130 37,400 0.033 1,240 47,600 0.036 1,730
TOTAL SOUTH AMERICA 10,100 0.019 200 465,200 0.020 9,420 475,300 0.020 9,620 282,800 0.022 6,150
Australia
Boddington, Western Australia 100 % 104,900 0.016 1,680 279,700 0.016 4,510 384,600 0.016 6,190 5,700 0.014 80
Tanami, Northern Territory 100 % 400 0.092 40 8,900 0.099 870 9,300 0.099 910 11,200 0.123 1,370
Kalgoorlie, Western Australia 50 % 5,900 0.042 240 27,900 0.044 1,240 33,800 0.044 1,480 10,300 0.068 700
TOTAL AUSTRALIA 111,200 0.018 1,960 316,500 0.021 6,620 427,700 0.020 8,580 27,200 0.079 2,150
Africa
Ahafo South 100 % 1,600 0.017 30 28,100 0.035 990 29,700 0.034 1,020 10,600 0.045 480
Ahafo Underground 100 % 0.000 11,000 0.140 1,530 11,000 0.140 1,530 13,400 0.130 1,740
Total Ahafo South, Ghana 1,600 0.017 30 39,100 0.064 2,520 40,700 0.063 2,550 24,000 0.093 2,220
Ahafo North Open Pits, Ghana 100 % 0.000 10,800 0.048 520 10,800 0.048 520 8,300 0.052 440
Akyem Open Pits 100 % 600 0.023 10 1,700 0.013 20 2,300 0.016 30 0.000
Akyem Underground 100 % 0.000 4,100 0.134 540 4,100 0.134 540 8,700 0.120 1,050
Akyem, Ghana 600 0.023 10 5,800 0.097 560 6,400 0.089 570 8,700 0.121 1,050
TOTAL AFRICA 2,200 0.019 40 55,700 0.065 3,600 57,900 0.063 3,640 41,000 0.090 3,710
TOTAL NEWMONT WORLDWIDE 333,600 0.018 5,850 1,622,500 0.021 33,540 1,956,100 0.020 39,390 529,300 0.030 15,590
(1)   Resources are reported exclusive of reserves.
(2) Resources are calculated at a gold price of $1,400 or A$1,750 per ounce for 2018 and 2017. Tonnage amounts have been rounded to the nearest 100,000. Ounces may not recalculate as they have been rounded to the nearest 10,000.
(3) Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmonts 10-K filing.
(4) Stockpiles are comprised primarily of mineralized material that has been set aside during mining activities. Stockpiles can increase or decrease depending on changes in metal prices and other mining and processing cost and recovery factors. Stockpile reserves are reported separately where tonnage exceeds 100,000 and is greater than 5% of the total site-reported resources.
(5) Resource estimates provided by Barrick, the operator of the Turquoise Ridge Joint Venture.
(6) Resource estimates provided by Teck Resources, the operator of Galore Creek.
 
 
Attributable Gold Mineral Resources (1)(2) – December 31, 2018, Metric Units
      Measured Resource   Indicated Resource   Measured and Indicated Resource (3)   Inferred Resource
Newmont Tonnage   Grade   Gold Tonnage   Grade   Gold Tonnage   Grade   Gold Tonnage   Grade   Gold
Deposits/Districts Share (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs)
North America
Carlin Trend Open Pit 100 % 1,000 2.88 90 100,100 1.27 4,090 101,100 1.29 4,180 9,600 1.01 310
Carlin Trend Underground 100 % 900 7.35 220 2,400 5.54 440 3,300 6.04 660 2,300 9.55 740
Total Carlin, Nevada 1,900 5.07 310 102,500 1.37 4,530 104,400 1.44 4,840 11,900 2.74 1,050
Phoenix 100 % 6,400 0.51 100 96,800 0.49 1,530 103,200 0.49 1,630 14,500 0.64 300
Buffalo Valley 70 % 0.00 14,100 0.65 290 14,100 0.65 290 400 0.38
Total Phoenix, Nevada 6,400 0.51 100 110,900 0.51 1,820 117,300 0.51 1,920 14,900 0.63 300
Twin Creeks 100 % 1,700 2.84 150 31,300 2.13 2,150 33,000 2.17 2,300 12,900 1.72 710
Twin Creeks Stockpiles (4) 100 % 8,200 2.03 530 0.00 8,200 2.03 530 0.00
Sandman 100 % 0.00 1,200 1.23 50 1,200 1.23 50 1,100 1.85 60
Turquoise Ridge (5) 25 % 1,000 7.70 240 800 8.22 210 1,800 7.93 450 600 11.92 240
Total Twin Creeks, Nevada 10,900 2.63 920 33,300 2.25 2,410 44,200 2.34 3,330 14,600 2.15 1,010
Long Canyon, Nevada 100 % 500 3.84 60 14,000 3.50 1,570 14,500 3.52 1,630 5,600 1.94 350
CC&V, Colorado 100 % 42,700 0.54 750 28,100 0.49 450 70,800 0.52 1,200 15,800 0.43 200
Galore Creek, Canada (6) 50 % 128,400 0.36 1,510 423,400 0.23 3,120 551,800 0.26 4,630 99,100 0.21 670
TOTAL NORTH AMERICA 190,800 0.60 3,650 712,200 0.61 13,900 903,000 0.61 17,550 161,900 0.69 3,580
South America
Conga, Peru 51.35 % 0.00 356,300 0.65 7,490 356,300 0.65 7,490 118,400 0.39 1,480
Yanacocha 51.35 % 5,600 0.50 90 33,100 0.39 410 38,700 0.40 500 90,900 0.85 2,480
Yanacocha Underground 51.35 % 0.00 2,200 5.53 390 2,200 5.53 390 4,100 3.54 460
Total Yanacocha, Peru 5,600 0.50 90 35,300 0.70 800 40,900 0.68 890 95,000 0.96 2,940
Merian, Suriname 75 % 3,500 0.96 110 30,300 1.15 1,130 33,800 1.13 1,240 43,300 1.24 1,730
TOTAL SOUTH AMERICA 9,100 0.65 200 421,900 0.70 9,420 431,000 0.69 9,620 256,700 0.74 6,150
Australia
Boddington, Western Australia 100 % 95,200 0.55 1,680 253,800 0.55 4,510 349,000 0.55 6,190 5,100 0.49 80
Tanami, Northern Territory 100 % 400 3.15 40 8,000 3.40 870 8,400 3.39 910 10,200 4.22 1,370
Kalgoorlie, Western Australia 50 % 5,300 1.42 240 25,500 1.51 1,240 30,800 1.49 1,480 9,400 2.33 700
TOTAL AUSTRALIA 100,900 0.61 1,960 287,300 0.72 6,620 388,200 0.69 8,580 24,700 2.72 2,150
Africa
Ahafo South 100 % 1,400 0.59 30 25,400 1.21 990 26,800 1.18 1,020 9,600 1.54 480
Ahafo Underground 100 % 0.00 9,900 4.80 1,530 9,900 4.80 1,530 12,200 4.47 1,740
Total Ahafo South, Ghana 1,400 0.59 30 35,300 2.22 2,520 36,700 2.16 2,550 21,800 3.17 2,220
Ahafo North Open Pits, Ghana 100 % 0.00 9,900 1.65 520 9,900 1.65 520 7,500 1.79 440
Akyem Open Pits 100 % 600 0.77 10 1,500 0.44 20 2,100 0.53 30 0.00
Akyem Underground 100 % 0.00 3,700 4.59 540 3,700 4.59 540 7,900 4.11 1,050
Akyem, Ghana 600 0.77 10 5,200 3.35 560 5,800 3.06 570 7,900 4.13 1,050
TOTAL AFRICA 2,000 0.64 40 50,400 2.22 3,600 52,400 2.16 3,640 37,200 3.09 3,710
TOTAL NEWMONT WORLDWIDE 302,800 0.60 5,850 1,471,800 0.71 33,540 1,774,600 0.69 39,390 480,500 1.01 15,590

See footnotes in Gold Resources U.S. units table.

 
Attributable Copper Reserves (1) U.S. Units

 

December 31, 2018

  December 31, 2017
    Proven Reserves   Probable Reserves   Proven and Probable Reserves   Proven and Probable Reserves
Newmont Tonnage (2)   Grade   Copper (3) Tonnage (2)   Grade   Copper (3) Tonnage (2)   Grade   Copper (3) Metallurgical Tonnage (2)   Grade   Copper (3)
Deposits/Districts Share (x1000 tons) (Cu %) (million pounds) (x1000 tons) (Cu %) (million pounds) (x1000 tons) (Cu %) (million pounds) Recovery (3) (x1000 tons) (Cu %) (million pounds)
North America
Phoenix, Nevada (4) 100 % 53,200 0.21 % 230 189,900 0.17 % 660 243,100 0.18 % 890 64 % 394,700 0.17 % 1,330
TOTAL NORTH AMERICA 53,200 0.21 % 230 189,900 0.17 % 660 243,100 0.18 % 890 64 % 394,700 0.17 % 1,330
South America
Yanacocha Open Pits and Underground, Peru (5) 51.35 % 59,000 0.63 % 740 59,000 0.63 % 740 83 %
TOTAL SOUTH AMERICA 59,000 0.63 % 740 59,000 0.63 % 740 83 %
Australia
Boddington Open Pit, Western Australia (6) 100 % 264,900 0.09 % 500 265,000 0.11 % 580 529,900 0.10 % 1,080 79 % 546,500 0.11 % 1,160
Boddington Stockpiles, Western Australia (7) 100 % 7,600 0.08 % 10 94,800 0.08 % 160 102,400 0.08 % 170 73 % 104,500 0.09 % 180
TOTAL AUSTRALIA 272,500 0.09 % 510 359,800 0.10 % 740 632,300 0.10 % 1,250 78 % 651,000 0.10 % 1,340
TOTAL NEWMONT WORLDWIDE 325,700 0.11 % 740 608,700 0.18 % 2,140 934,400 0.15 % 2,880 77 % 1,045,700 0.13 % 2,670

(1)

  See footnote (1) to the Gold Reserves table above. Copper reserves for 2018 and 2017 were calculated at a copper price of $2.50 or A$3.35 per pound.

(2)

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

See footnote (3) to the Gold Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.

(4)

Copper cut-off grade varies with level of gold and silver credits.

(5)

Copper cut-off grade varies with level of gold and silver credits.

(6)

Copper cut-off grade varies with level of gold credits.

(7)

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. Stockpiles are reported separately where pounds exceed 100 million and are greater than 5% of the total site reported reserves.
 
 
Attributable Copper Reserves (1) Metric Units

 

   

December 31, 2018

  December 31, 2017
      Proven Reserves   Probable Reserves   Proven and Probable Reserves   Proven and Probable Reserves
Newmont Tonnage (2)   Grade   Copper (3) Tonnage (2)   Grade   Copper (3) Tonnage (2)   Grade   Copper (3) Metallurgical Tonnage (2)   Grade   Copper (3)
Deposits/Districts Share (x1000 tonnes) (Cu %) (Tonnes) (x1000 tonnes) (Cu %) (Tonnes) (x1000 tonnes) (Cu %) (Tonnes) Recovery (x1000 tonnes) (Cu %) (Tonnes)
North America
Phoenix, Nevada 100 % 48,200 0.21 % 100,000 172,300 0.17 % 300,000 220,500 0.18 % 400,000 64 % 358,000 0.17 % 600,000
TOTAL NORTH AMERICA 48,200 0.21 % 100,000 172,300 0.17 % 300,000 220,500 0.18 % 400,000 64 % 358,000 0.17 % 600,000
South America
Yanacocha Open Pits and Underground, Peru 51.35 % 53,600 0.63 % 340,000 53,600 0.63 % 340,000 83 %
TOTAL SOUTH AMERICA 53,600 0.63 % 340,000 53,600 0.63 % 340,000 83 %
Australia
Boddington Open Pit, Western Australia 100 % 240,400 0.09 % 230,000 240,300 0.11 % 260,000 480,700 0.10 % 490,000 79 % 495,900 0.11 % 530,000
Boddington Stockpiles, Western Australia (7) 100 % 6,900 0.08 % 86,100 0.08 % 70,000 93,000 0.08 % 70,000 73 % 94,900 0.09 % 80,000
TOTAL AUSTRALIA 247,300 0.09 % 230,000 326,400 0.10 % 330,000 573,700 0.10 % 560,000 78 % 590,800 0.10 % 610,000
TOTAL NEWMONT WORLDWIDE 295,500 0.11 % 330,000 552,300 0.18 % 970,000 847,800 0.15 % 1,300,000 77 % 948,800 0.13 % 1,210,000

See footnotes under Copper Reserves U.S. units table.

 
Attributable Copper Mineral Resources (1)(2) – December 31, 2018, U.S. Units
      Measured Resources   Indicated Resources   Measured and Indicated Resource   Inferred Resource
Newmont Tonnage   Grade   Copper Tonnage   Grade   Copper Tonnage   Grade   Copper Tonnage   Grade   Copper
Deposits/Districts Share (x1000 tons) (Cu%) (million Pounds) (x1000 tons) (Cu%) (million Pounds) (x1000 tons) (Cu%) (million Pounds) (x1000 tons) (Cu%) (million Pounds)
North America
Phoenix, Nevada 100 % 26,600 0.16 % 80 169,600 0.14 % 470 196,200 0.14 % 550 27,000 0.15 % 80
Galore Creek, Canada 50 % 141,500 0.72 % 2,030 466,800 0.39 % 3,630 608,300 0.47 % 5,660 109,200 0.27 % 590
TOTAL NORTH AMERICA 168,100 0.63 % 2,110 636,400 0.32 % 4,100 804,500 0.39 % 6,210 136,200 0.25 % 670
South America
Conga, Peru 51.35 % 392,700 0.26 % 2,040 392,700 0.26 % 2,040 130,500 0.19 % 500
Yanacocha, Peru 51.35 % 2,200 0.12 % 2,200 0.12 % 6,700 0.22 % 30
TOTAL SOUTH AMERICA 394,900 0.26 % 2,040 394,900 0.26 % 2,040 137,200 0.19 % 530
Australia
Boddington, Western Australia 100 % 104,900 0.11 % 230 279,700 0.12 % 670 384,600 0.12 % 900 5,700 0.09 % 10
TOTAL AUSTRALIA 104,900 0.11 % 230 279,700 0.12 % 670 384,600 0.12 % 900 5,700 0.09 % 10
TOTAL NEWMONT WORLDWIDE 273,000 0.43 % 2,340 1,311,000 0.26 % 6,810 1,584,000 0.29 % 9,150 279,100 0.22 % 1,210

(1)

  Resources are reported exclusive of reserves. Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmonts Form 10-K filing.

(2)

Resources are calculated at a copper price of $3.25 or A$4.00 per pound for 2018 and 2017. Tonnage amounts have been rounded to the nearest 100,000. Pounds may not recalculate as they have been rounded to the nearest 10 million.
 
 
Attributable Copper Mineral Resources (1)(2) – December 31, 2018, Metric Units
      Measured Resources   Indicated Resources   Measured and Indicated Resource   Inferred Resource
Newmont Tonnage   Grade   Copper Tonnage   Grade   Copper Tonnage   Grade   Copper Tonnage   Grade   Copper
Deposits/Districts Share (x1000 tonnes) (Cu%) (tonnes) (x1000 tonnes) (Cu%) (tonnes) (x1000 tonnes) (Cu%) (tonnes) (x1000 tonnes) (Cu%) (tonnes)
North America
Phoenix, Nevada 100 % 24,200 0.16 % 40,000 153,900 0.14 % 210,000 178,100 0.14 % 250,000 24,500 0.15 % 30,000
Galore Creek, Canada 50 % 128,400 0.72 % 920,000 423,400 0.39 % 1,640,000 551,800 0.47 % 2,560,000 99,100 0.27 % 260,000
TOTAL NORTH AMERICA 152,600 0.63 % 960,000 577,300 0.32 % 1,850,000 729,900 0.39 % 2,810,000 123,600 0.25 % 290,000
South America
Conga, Peru 51.35 % 356,300 0.26 % 930,000 356,300 0.26 % 930,000 118,400 0.19 % 220,000
Yanacocha, Peru 51.35 % 1,900 0.12 % 1,900 0.12 % 6,100 0.22 % 10,000
TOTAL SOUTH AMERICA 358,200 0.26 % 930,000 358,200 0.26 % 930,000 124,500 0.19 % 230,000
Australia
Boddington, Western Australia 100 % 95,200 0.11 % 100,000 253,800 0.12 % 300,000 349,000 0.12 % 400,000 5,100 0.09 %
TOTAL AUSTRALIA 95,200 0.11 % 100,000 253,800 0.12 % 300,000 349,000 0.12 % 400,000 5,100 0.09 %
TOTAL NEWMONT WORLDWIDE 247,800 0.43 % 1,060,000 1,189,300 0.26 % 3,080,000 1,437,100 0.29 % 4,140,000 253,200 0.22 % 520,000

See footnotes under Copper Resources U.S. units table.

 
Attributable Proven, Probable and Combined Silver Reserves (1) U.S. Units

 

   

December 31, 2018

  December 31, 2017
      Proven Reserves   Probable Reserves   Proven and Probable Reserves   Proven and Probable Reserves
Newmont Tonnage (2)   Grade   Silver (3) Tonnage (2)   Grade   Silver (3) Tonnage (2)   Grade   Silver (3) Metallurgical Tonnage (2)   Grade   Silver (3)
Deposits/Districts Share (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs) Recovery (3) (x1000 tons) (oz/ton) (x1000 ozs)
North America
Phoenix, Nevada 100% 13,200 0.25 3,360 133,200 0.21 28,550 146,400 0.22 31,910 38% 249,900 0.24 60,880
TOTAL NORTH AMERICA 13,200 0.25 3,360 133,200 0.21 28,550 146,400 0.22 31,910 38% 249,900 0.24 60,880
South America
Yanacocha Open Pits and Underground, Peru 51.35% 7,500 0.23 1,710 65,900 0.52 34,110 73,400 0.49 35,820 46% 36,600 0.21 7,590
Yanacocha Stockpiles, Peru (4) 51.35% 2,400 1.09 2,490 1,600 1.22 2,020 4,000 1.14 4,510 48% 5,100 1.13 5,840
Yanacocha Leach Pads, Peru (5) 51.35% 54,600 0.25 13,460 54,600 0.25 13,460 6% 55,000 0.25 13,570
TOTAL SOUTH AMERICA (6) 9,900 0.43 4,200 122,100 0.41 49,590 132,000 0.41 53,790 36% 96,700 0.28 27,000
TOTAL NEWMONT WORLDWIDE 23,100 0.33 7,560 255,300 0.31 78,140 278,400 0.31 85,700 36% 346,600 0.25 87,880

(1)

  See footnote (1) to the Gold Reserves table above. Silver reserves for 2018 and 2017 were calculated at a silver price of $16.

(2)

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

See footnote (3) to the Gold Reserves table above.

(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. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.

(5)

Leach Pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process material reserves are reported separately where tonnage or ounces are greater than 5% of the total site-reported reserves and ounces are greater than 100,000.

(6)

See footnote (23) to the Gold Reserves table above.
 
 
Attributable Proven, Probable and Combined Silver Reserves (1) Metric Units

 

   

December 31, 2018

  December 31, 2017
      Proven Reserves   Probable Reserves   Proven and Probable Reserves   Proven and Probable Reserves
Newmont Tonnage (2)   Grade   Silver (3) Tonnage (2)   Grade   Silver (3) Tonnage (2)   Grade   Silver (3) Metallurgical Tonnage (2)   Grade   Silver (3)
Deposits/Districts Share (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs) Recovery (3) (x1000 tonnes) (g/tonne) (x1000 ozs)
North America
Phoenix, Nevada 100 % 12,000 8.7 3,360 120,800 7.4 28,550 132,800 7.5 31,910 38 % 226,600 8.4 60,880
TOTAL NORTH AMERICA 12,000 8.7 3,360 120,800 7.4 28,550 132,800 7.5 31,910 38 % 226,600 8.4 60,880
South America
Yanacocha Open Pits and Underground, Peru 51.35 % 6,700 7.8 1,710 59,900 17.7 34,110 66,600 16.7 35,820 46 % 33,000 7.1 7,590
Yanacocha Stockpiles, Peru (4) 51.35 % 2,100 37.3 2,490 1,500 42.0 2,020 3,600 39.2 4,510 48 % 4,700 38.9 5,840
Yanacocha Leach Pads, Peru (5) 51.35 % 49,600 8.5 13,460 49,600 8.5 13,460 6 % 49,800 8.5 13,570
TOTAL SOUTH AMERICA (6) 8,800 14.7 4,200 111,000 13.9 49,590 119,800 14.0 53,790 36 % 87,500 9.6 27,000
TOTAL NEWMONT WORLDWIDE 20,800 11.2 7,560 231,800 10.5 78,140 252,600 10.6 85,700 36 % 314,100 8.7 87,880

See Footnotes under Silver Reserves U.S. units table.

 
Attributable Silver Mineral Resources (1)(2) – December 31, 2018, U.S. Units
      Measured Resources   Indicated Resources   Measured and Indicated Resource   Inferred Resource
Newmont Tonnage   Grade   Silver Tonnage   Grade   Silver Tonnage   Grade   Silver Tonnage   Grade   Silver
Deposits/Districts Share (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs) (x1000 tons) (oz/ton) (x1000 ozs)
North America
Sandman, Nevada 100 % 1,300 0.20 260 1,300 0.20 260 1,100 0.12 140
Phoenix, Nevada 100 % 7,000 0.20 1,400 106,700 0.19 19,750 113,700 0.19 21,150 16,100 0.18 2,960
Galore Creek, Canada 50 % 141,500 0.17 23,900 466,800 0.11 51,020 608,300 0.12 74,920 109,200 0.08 8,440
TOTAL NORTH AMERICA 148,500 0.17 25,300 574,800 0.12 71,030 723,300 0.13 96,330 126,400 0.09 11,540
South America
Conga, Peru 51.35 % 392,700 0.06 23,580 392,700 0.06 23,580 99,100 0.03 3,250
Yanacocha Open Pits and Stockpiles 51.35 % 6,100 0.14 840 10,500 0.36 3,750 16,600 0.28 4,590 4,800 0.83 3,990
Yanacocha Underground 51.35 % 2,200 1.48 3,240 2,200 1.48 3,240 4,500 0.56 2,500
Total Yanacocha, Peru 6,100 0.14 840 12,700 0.55 6,990 18,800 0.42 7,830 9,300 0.70 6,490
TOTAL SOUTH AMERICA 6,100 0.14 840 405,400 0.08 30,570 411,500 0.08 31,410 108,400 0.09 9,740
TOTAL NEWMONT WORLDWIDE 154,600 0.17 26,140 980,200 0.10 101,600 1,134,800 0.11 127,740 234,800 0.09 21,280
(1)   Resources are reported exclusive of reserves. Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmonts Form 10-K filing.
(2) Resource for 2018 and 2017 was calculated at a silver price of $20 per ounce. Tonnage amounts have been rounded to the nearest 100,000.
 
Attributable Silver Mineral Resources (1)(2) – December 31, 2018, Metric Units
      Measured Resources   Indicated Resources   Measured and Indicated Resource   Inferred Resource
Newmont Tonnage   Grade   Silver Tonnage   Grade   Silver Tonnage   Grade   Silver Tonnage   Grade   Silver
Deposits/Districts Share (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs) (x1000 tonnes) (g/tonne) (x1000 ozs)
North America
Sandman, Nevada 100 % 1,200 6.8 260 1,200 6.8 260 1,100 4.1 140
Phoenix, Nevada 100 % 6,400 6.8 1,400 96,800 6.3 19,750 103,200 6.4 21,150 14,500 6.3 2,960
Galore Creek, Canada 50 % 128,400 5.8 23,900 423,400 3.7 51,020 551,800 4.2 74,920 99,100 2.6 8,440
TOTAL NORTH AMERICA 134,800 5.8 25,300 521,400 4.2 71,030 656,200 4.6 96,330 114,700 3.1 11,540
South America
Conga, Peru 51.35 % 356,300 2.1 23,580 356,300 2.1 23,580 89,900 1.1 3,250
Yanacocha Open Pits and Stockpiles 51.35 % 5,500 4.7 840 9,400 12.3 3,750 14,900 9.5 4,590 4,300 28.5 3,990
Yanacocha Underground 51.35 % 1,900 50.9 3,240 1,900 50.9 3,240 4,100 19.1 2,500
Total Yanacocha, Peru 5,500 4.7 840 11,300 19.2 6,990 16,800 14.5 7,830 8,400 24.0 6,490
TOTAL SOUTH AMERICA 5,500 4.7 840 367,600 2.6 30,570 373,100 2.6 31,410 98,300 3.1 9,740
TOTAL NEWMONT WORLDWIDE 140,300 5.8 26,140 889,000 3.6 101,600 1,029,300 3.9 127,740 213,000 3.1 21,280

See Footnotes under Silver Resources U.S. units table.

About Newmont

Newmont is a leading gold and copper producer. The Companys operations are primarily in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015, 2016, 2017 and 2018. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.

Cautionary Statement regarding Reserves and Resources:

The reserves disclosed in this release have been prepared in compliance with Industry Guide 7 published by the SEC. As used in this news release, the term reserve means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term economically, as used in this definition, means that profitable extraction or production has been established or analytically demonstrated in a feasibility study to be viable and justifiable under reasonable investment and market assumptions. The term legally, as used in this definition, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Newmont must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Newmonts current mine plans. Reserves in this news release are aggregated from the proven and probable classes.

The term proven reserves used in the tables of this news release means reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; (b) grade and/or quality are computed from the results of detailed sampling; and (c) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is sufficiently defined that size, shape, depth and mineral content of reserves are well established. The term probable reserves means reserves for which quantity and grade are computed from information similar to that used for proven reserves, but the sites for sampling are farther apart or are otherwise less closely spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation. Newmont classifies all reserves as Probable on its development projects until a year of production has confirmed all assumptions made in the reserve estimates. Proven and probable reserves include gold, copper or silver attributable to Newmonts ownership or economic interest. Proven and probable reserves were calculated using cut-off grades. The term cut-off grade means the lowest grade of mineralized material considered economic to process. Cut-off grades vary between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper or silver extraction and type of milling or leaching facilities available.

Notice for U.S. Investors:

The terms resources and Measured, Indicated and Inferred resources are used in this news release. Investors are advised that the SEC does not recognize these terms and resources have not been prepared in accordance with Industry Guide 7. Newmont has determined that such resources would be substantively the same as those prepared using the Guidelines established by the Society of Mining, Metallurgy and Exploration (SME) and defined as Mineral Resource. Estimates of resources are subject to further exploration and development, are subject to additional risks, and no assurance can be given that they will eventually convert to future reserves. Inferred Resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. Investors are cautioned not to assume that any part or all of the Inferred Resource exists, or is economically or legally mineable. Also, disclosure of contained ounces is permitted under the SME Guideline and other regulatory guidelines, such as Canadas NI 43-101 and Australias JORC. However, the SEC generally requires mineral resource information in SEC-filed documents to be reported only as in-place tonnage and grade. Investors are reminded that even if significant mineralization is discovered and converted to reserves, during the time necessary to ultimately move such mineralization to production the economic feasibility of production may change. See the Companys Annual Report for the Proven and Probable Reserve and Mineralized Material tables prepared in compliance with the SECs Industry Guide 7, available at www.newmont.com and on www.sec.gov. Investors are reminded that the tables presented in the Annual Report are estimates as of December 31, 2018 and were presented on an attributable basis reflecting the Companys ownership interest at such time.

Cautionary Statement Regarding Forward Looking Statements:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation, estimates and expectations of future exploration expenditures and activities. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. For a discussion of such risks relating to our business and other factors, see the Companys Form 10-K, filed on February 21, 2019, with the Securities and Exchange Commission under the headings Risk Factors and Forward-Looking Statements. The Company does not undertake any obligation to release publicly revisions to any forward-looking statement, including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at investors’ own risk.

Newmont Mining Corporation
Investor
Contact

Jessica Largent, 303-837-5484
[email protected]

Media
Contact

Omar Jabara, 303-837-5114
[email protected]