Newmont Announces Third Quarter 2013 Results

  Newmont Announces Third Quarter 2013 Results

Year to date consolidated spending^1 down $700 million or 13%; 2013 capital
expenditure guidance lowered by $400 million year to date

Business Wire

DENVER -- October 31, 2013

Newmont Mining Corporation (NYSE: NEM) (“Newmont” or the “Company”) today
reported attributable net income from continuing operations of $429 million,
or $0.86 per share, up 7% from $400 million, or $0.81 per share in the third
quarter of 2012. Third quarter results benefited from the sale of the
Company’s investment in Canadian Oil Sands Limited for approximately $587
million, resulting in a pretax gain of $280 million. Adjusted net income^2 was
$227 million, or $0.46 per share, compared with $426 million, or $0.86 per
share, for the prior year quarter. Results for the third quarter of 2013 were
favorably impacted by higher production from Nevada and Other Australia/New
Zealand operations. Improved production and stable operating costs relative to
the prior year quarter were offset by declines of 20% and 13%, respectively,
in gold and copper prices.

                          Third Quarter Highlights^3

  *Consolidated spending^1 down $700 million year to date, or 13% compared to
    the first nine months of 2012;
  *All-in sustaining costs^4 (“AISC”) of $993 per ounce, down 16% from the
    prior year quarter;
  *Gold and copper costs applicable to sales^5 (“CAS”) ^ of $649 per ounce
    and $2.63 per pound, down 6% and up 11%, respectively, from the prior year
    quarter;
  *Attributable gold and copper production of 1.284 million ounces and 34
    million pounds, up 4% and down 3%, respectively, from the prior year
    quarter; attributable gold and copper sales of 1.261 million ounces and 35
    million pounds, up 4% and down 5%, respectively, from the prior year
    quarter;
  *Revenue of $2.0 billion, a decrease of 20% from the prior year quarter;
  *Cash flow from continuing operations of $443 million, a decrease of 23%
    from the prior year quarter;
  *Average realized gold and copper prices of $1,322 per ounce and $3.10 per
    pound, down 20% and 13%, respectively, from the prior year quarter;
  *Sold investment in Canadian Oil Sands Limited for $587 million resulting
    in a pretax gain of $280 million; and
  *Fourth quarter gold price-linked dividend of $0.20 per share^6 based upon
    the average London P.M. Gold fix of $1,326 per ounce for the third
    quarter.

“Our efforts to improve costs and efficiencies are gaining momentum, and we
have reduced consolidated spending by $700 million year to date,” said Gary
Goldberg, President and Chief Executive Officer. “Strong third quarter
production was driven by our Australia / New Zealand operations. Our Nevada
operations are also overcoming first half challenges. We remain focused on
delivering value over volume at our existing operations as well as profitable
growth at our new ones – a great example is Akyem in Ghana where we recently
achieved commercial production.”

As previously announced, Newmont has maintained its 2013 attributable gold
production outlook of 4.8 to 5.1 million ounces and has revised its
attributable copper production outlook to 135 to 145 million pounds. Newmont
now expects to be at the low end of its previously announced 2013 outlook for
gold CAS of $750 and $825 per ounce inclusive of stockpile write-downs. The
Company continues to expect copper CAS of $4.05 and $4.40 per pound,
respectively, inclusive of stockpile write-downs. Exclusive of stockpile
write-downs, the Company continues to expect gold and copper CAS between $675
and $750 per ounce and $2.25 and $2.50 per pound, respectively.

2013 consolidated capital expenditure outlook has been reduced by $200 million
to $2.0 to $2.2 billion or to $1.7 to $1.9 billion on an attributable basis.
Consolidated sustaining capital outlook has been reduced by $100 million to
$1.2 to $1.3 billion, or to $1.0 to $1.1 billion on an attributable basis.

As previously announced, Newmont’s Board of Directors approved a fourth
quarter dividend in accordance with the Company’s gold price-linked dividend
policy of $0.20 per share based upon the average London P.M. Fix of $1,326 per
ounce for the third quarter.

                                  Operations

North America

North America AISC for the third quarter were $772 per ounce, down 24% over
the prior year quarter. AISC were favorably impacted by a 16% reduction in
gold CAS per ounce, attributable to lower royalties, higher by-product
credits, and higher production, and a 38% reduction of sustaining capital
expenditures per ounce.

Nevada – Attributable gold production in Nevada was 468,000 ounces at CAS of
$527 per ounce during the third quarter. Gold production increased 2% from the
prior year quarter due to higher leach production from Emigrant and Carlin
North Area as well as higher grade and throughput at Juniper Mill and Phoenix,
partially offset by lower grade and recovery at Mill 5 and lower throughput
and recovery at Mill 6 and the Twin Creeks Autoclave. CAS per ounce decreased
20% from the prior year quarter due to higher ounces produced, higher
by-product credits, and lower royalties. AISC at Nevada were $722 per ounce,
down 29% over the prior year quarter.

The Company is maintaining its 2013 attributable gold production outlook of
between 1.7 and 1.8 million ounces at CAS of $600 to $650 per ounce.

La Herradura – Attributable gold production at La Herradura in Mexico was
52,000 ounces at CAS of $765 per ounce during the third quarter. Gold
production increased 2% from the prior year quarter due to higher production
from Noche Buena and Centauro, essentially offset by lower production from
Soledad and Dipolos. CAS per ounce increased 26% from the prior year quarter
due to higher waste mining. AISC at La Herradura were $1,173 per ounce, up 15%
over the prior year quarter due to an increase in gold CAS per ounce.

The Company now expects to be at the low end of its previously guided 2013
attributable gold production range of between 200,000 and 250,000 ounces and
at the high end of its previously guided CAS range of $650 and $700 per ounce
inclusive and exclusive of stockpile write-downs.

South America

South America AISC for the third quarter were $1,077 per ounce, or flat over
the prior year quarter. AISC were positively impacted by a 63% reduction in
sustaining capital expenditures per ounce, partially offset by a 14% increase
in gold CAS per ounce.

Yanacocha – Attributable gold production at Yanacocha in Peru was 132,000
ounces at CAS of $591 per ounce during the third quarter. Gold production
decreased 28% from the prior year quarter due to lower leach production as a
result of placing lower grade leach ore from Tapado Oeste partially offset by
higher mill grade from Tapado Oeste. CAS per ounce increased 14% from the
prior year quarter due to higher mining costs related to the commencement of
production at Cerro Negro and El Tapado Oeste in the fourth quarter 2012 and
leach pad write-downs at La Quinua, Yanacocha, and Maqui Maqui. AISC were $996
per ounce, down 2% over the prior year quarter due to lower sustaining capital
expenditures per ounce, partially offset by higher gold CAS per ounce.

The Company is maintaining its 2013 attributable gold production outlook of
between 475,000 and 525,000 ounces at CAS of $650 to $700 per ounce inclusive
of stockpile write-downs and $600 to $650 per ounce exclusive of stockpile
write-downs.

La Zanja – Attributable gold production during the third quarter at La Zanja
in Peru was approximately 17,000 ounces. The Company continues to expect
attributable gold production of 40,000 to 50,000 ounces.

Australia/New Zealand

Australia/New Zealand AISC for the third quarter were $1,068 per ounce, down
14% over the prior year quarter. AISC were positively impacted by an 18%
reduction in gold CAS per ounce and 44% reduction in sustaining capital
expenditures per ounce at Other Australia/New Zealand operations, partially
offset by higher gold CAS per ounce at Boddington.

Boddington – Attributable gold and copper production during the third quarter
at Boddington in Australia was 178,000 ounces and 15 million pounds,
respectively, at CAS of $1,031 per ounce and $2.23 per pound, respectively.
Gold production increased 7% over the prior year quarter due to higher
throughput and recovery partially offset by lower ore grade milled. Copper
production decreased 6% due to lower mill grade. Gold CAS increased 11% per
ounce due to inventory write-downs partially offset by higher production.
Copper CAS was marginally lower than the prior year. AISC at Boddington were
$1,197 per ounce, up 12% over the prior year quarter.

The Company is maintaining its 2013 attributable gold production outlook of
between 700,000 and 750,000 ounces at CAS of $1,050 to $1,150 per ounce
including stockpile write-downs and $850 to $950 per ounce excluding stockpile
write-downs. The Company now expects attributable copper production of between
60 and 70 million pounds. Copper production outlook has been revised due to
lower than expected mill throughput. The Company continues to expect copper
CAS of $2.75 to $2.95 per pound including stockpile write-downs and $2.45 to
$2.65 per pound excluding stockpile write-downs.

Other Australia/New Zealand – Attributable gold production^7 during the third
quarter was 289,000 ounces at CAS of $756 per ounce. Gold production increased
26% from the prior year quarter due to higher mill throughput and ore grade
from underground sources at Tanami, higher throughput at Waihi, and higher
grade and throughput at Kalgoorlie partially offset by lower grade at Jundee.
CAS per ounce decreased 19% from the prior year quarter. This was due to
higher gold production from Tanami, Waihi and Kalgoorlie partially offset by
lower production and higher operating costs at Jundee. AISC were $996 per
ounce, down 28% over the prior year quarter due to increased mining
productivity and efficiency improvements.

The Company is maintaining its 2013 attributable gold production outlook of
between 925,000 and 975,000 ounces at CAS of $1,000 to $1,100 per ounce
including stockpile write-downs and $950 to $1,050 per ounce excluding
stockpile write-downs.

Indonesia

Indonesia AISC for the third quarter were $1,071 per ounce, down 36% over the
prior year quarter due to a 24% reduction in gold CAS per ounce.

Batu Hijau – Attributable gold and copper production during the third quarter
at Batu Hijau in Indonesia was 4,000 ounces and 19 million pounds,
respectively, at CAS of $846 per ounce and $2.74 per pound, respectively. Gold
production decreased 44% due to processing lower grade ore, lower recovery,
and lower mill throughput. Copper production was in line due to higher copper
mill recovery. Total tons mined increased by 12% as Phase 6 waste removal
continues as planned. Gold CAS decreased 24% per ounce due to lower costs
allocated to gold on a co-product basis, lower operating costs and royalties,
partially offset by lower production. Copper CAS increased 15% per pound due
to higher costs allocated to copper on a co-product basis.

The Company is maintaining its 2013 attributable gold production outlook of
between 20,000 and 30,000 at CAS of $2,100 to $2,300 per ounce including
stockpile write-downs and $900 to $1,000 per ounce excluding stockpile
write-downs. The Company now expects attributable copper production of between
70 to 75 million pounds. Copper production outlook has been revised due to
lower than expected mill throughput and grades. The Company continues to
expect copper CAS of $4.70 to $5.10 per pound including stockpile write-downs
and $2.20 to $2.40 per pound excluding stockpile write-downs.

Africa

Africa AISC for the third quarter were $836 per ounce, down 22% over the prior
year quarter. AISC were favorably impacted by a 9% reduction in gold CAS and
22% reduction in sustaining capital expenditures per ounce.

Ahafo – Attributable gold production during the third quarter was 144,000
ounces at CAS of $513 per ounce. Gold production increased 10% from the prior
year quarter due to higher mill recovery partially offset by lower grade. CAS
per ounce decreased 9% from the prior year quarter due to higher ounces
produced partially offset by higher mining and milling costs. AISC at Ahafo
were $801 per ounce, down 19% over the prior year quarter.

The Company is maintaining its 2013 attributable gold production outlook of
between 525,000 and 575,000 ounces at CAS of $550 to $600 per ounce.

Akyem – The Akyem project achieved commercial production in October. The
Company is maintaining its 2013 attributable gold production outlook of
between 50,000 and 100,000 ounces at CAS of $450 to $500 per ounce.

                                Capital Update

2013 consolidated capital expenditures outlook was reduced by another $200
million during the third quarter in addition to the $200 million reduction
earlier this year. The Company now expects consolidated capital expenditures
of between $2.0 to $2.2 billion ($1.7 to $1.9 billion attributable to
Newmont). For the first nine months of 2013, capital expenditures in North
America were primarily related to the construction of the Phoenix Copper Leach
project, the development of the Turf Vent Shaft project, surface and
underground mine development and infrastructure improvements in Nevada, as
well as mill expansion capital in Mexico. Capital expenditures in South
America were primarily related to the Conga and Merian projects, surface mine
development, leach pad and other infrastructure improvements and equipment
purchases. The majority of capital expenditures in Australia and New Zealand
were for underground mine development, tailings facility construction, mining
equipment purchases and infrastructure improvements. Capital expenditures in
Batu Hijau were primarily for equipment and equipment component purchases.
Capital expenditures in Africa were related to Akyem development, the Subika
expansion project and the Ahafo Mill expansion project, as well as equipment
purchases and surface mine development at Ahafo.

                                                                    
                                                                        
                                 Consolidated   Consolidated
                                CAS            CAS                          
                                 inclusive of   exclusive of
                  Attributable   stockpile      stockpile      Consolidated   Attributable
                  Production     write-         write-         Capital        Capital
                                 downs          downs          Expenditures   Expenditures
                  
                                               
Region           (Kozs, Mlbs)  ($/oz,        ($/oz,        ($M)^c        ($M)^c
                                 $/lb)^b        $/lb)^b
Nevada^a          1,700 -        $600 - $650    $600 - $650    $500 - $550    $500 - $550
                  1,800
La Herradura     200 - 250     $650 - $700   $650 - $700   $125 - $175   $125 - $175
North America    1,900 -       $600 - $650   $600 - $650   $625 - $675   $625 - $675
                  2,000
Yanacocha         475 - 525      $650 - $700    $600 - $650    $225 - $275    $100 - $150
La Zanja          40 - 50
Conga                                                   $200 - $250   $100 - $125
South America    550 - 600     $650 - $700   $600 - $650   $425 - $525   $200 - $275
Boddington        700 - 750      $1,050 -       $850 - $950    $100 - $150    $100 - $150
                                 $1,150
Other            925 - 975     $1,000 -      $950 -        $175 - $225   $175 - $225
Australia/NZ                     $1,100         $1,050
Australia/       1,625 -       $1,000 -      $900 -        $275 - $325   $275 - $325
New Zealand       1,725          $1,100         $1,000
Batu Hijau,      20 - 30       $2,100 -      $900 -        $75 - $125    $25 - $75
Indonesia^d                      $2,300         $1,000
Ahafo             525 - 575      $550 - $600    $550 - $600    $225 - $275    $225 - $275
Akyem            50 - 100      $450 - $500   $450 - $500   $225 - $275   $225 -$275
Africa           625 - 675     $525 - $575   $525 - $575   $475 - $525   $475 - $525
Corporate/Other                                         $20 - $30     $20 - $30
Total Gold       4,800 -       $750 - $825   $675 - $750   $2,000 -      $1,700 -
                  5,100                                        $2,200         $1,900
Boddington        60 - 70        $2.75 -        $2.45 -
                                 $2.95          $2.65
Batu - Hijau     70 - 75       $4.70 -       $2.20 -                    
                                 $5.10          $2.40
Total Copper     135 - 145     $4.05 -       $2.25 -                    
                                 $4.40          $2.50
                                                                              
^aNevada CAS includes by-product credits from an estimated 30-40 million pounds of copper
production at Phoenix, net of treatment and refining charges.
^b2013 Attributable CAS Outlook is $750 - $825 per ounce inclusive of stockpile
write-downs or $675 - $750 per ounce exclusive of stockpile write-downs. CAS Outlook is
inclusive of hedge gains and losses.
^cExcludes capitalized interest of approximately $88 million, consolidated and
attributable.
^dAssumes Batu Hijau economic interest of 48.5% for 2013, subject to final divestiture
obligations.


2013 Expense Outlook^8                                
                                                         
                                                             
                                  Consolidated              Attributable
                                   Expenses                  Expenses
Description
                                 ($M)                     ($M)
General & Administrative           $180 - $230               $180 - $230
DD&A excluding stockpile           $1,050 - $1,100           $900 - $950
write-downs
DD&A including stockpile           $1,250 - $1,300           $1,000 - $1,050
write-downs
Exploration Expense                $250 - $300               $225 - $275
Advanced Projects & R&D            $250 - $300               $225 - $275
Other Expense                      $300 - $350               $200 - $250
Sustaining Capital                 $1,200 - $1,300           $1,000 - $1,100
Interest Expense                   $275 - $325               $250 - $300
Tax Rate^a                         0% - 5%                   0% - 5%
All-in sustaining cost
excluding stockpile                $1,100 - $1,200           $1,100 - $1,200
write-downs ($/ounce)^b
All-in sustaining cost
including stockpile               $1,100 - $1,200          $1,100 - $1,200
write-downs ($/ounce)^b
                                                             
^aAlthough, the Company expects to remain in a pretax loss for the year, it
does not anticipate being in an overall tax benefit position. Income tax
expense equal to 0-5% of the loss is projected. This projected expense
primarily relates to mining taxes in Nevada and Peru.
^bAll-in sustaining cost (“AISC”) is a non-GAAP metric defined as the sum of
cost applicable to sales (including all direct and indirect costs related to
current gold production incurred to execute on the current mine plan),
remediation costs (including operating accretion and amortization of asset
retirement costs), G&A, exploration expense, advanced projects and R&D, other
expense, net of one-time adjustments and sustaining capital. Note that the
Company has updated this metric to now include the sum of costs associated
with producing and selling an ounce of gold, exclusively, from all operations.
See the AISC disclosure starting on page 15 of this release.


^1Non-GAAP measure. See page 18 for reconciliation to costs applicable to
sales which was $3,733 million and $3,107 million for the nine months ended
September 30, 2013 and 2012, respectively.
^2Non-GAAP measure. See page 13 for reconciliation to net income attributable
to stockholders which was ($1,296) million and $1,136 million for the nine
months ended September 30, 2013 and 2012, respectively.
^3Amounts reported are on a consolidated basis, unless otherwise indicated.
^4Non-GAAP measure. See pages 15 to 18 for reconciliation to gold costs
applicable to sales which was $885 million and $950 million for the three
months ended September 30, 2013 and 2012, respectively.
^5CAS excludes Amortization and Reclamation and remediation. See pages 13 to
14.
^6Payable on December 27, 2013 to shareholders of record as of December 5,
2013.
^7Includes 14,000 and 7,000 attributable ounces in the third quarter 2013 and
2012, respectively, from our interest in Duketon.
^82013 Outlook and 2013 Expense Outlook referenced in this release are based
upon management’s good faith estimates as of October 31, 2013, and are
considered “forward-looking statements.” References to outlook guidance are
based on current mine plans, assumptions including, without limitation, metal
prices, oil prices, Australian dollar exchange rate, current geotechnical,
metallurgical, hydrological and other physical conditions, which are subject
to risk and uncertainty as discussed in the “Cautionary Statement” on page 19
and in the section entitled “Risk Factors” in the Company’s Form 10-K filed
with the SEC on February 22, 2013.


NEWMONT MINING CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(unaudited, in millions except per share)
                                                              
                                Three Months Ended      Nine Months Ended
                                September 30,           September 30,
                                2013        2012        2013         2012
                                                                       
Sales                           $ 1,983     $ 2,480     $ 6,153      $ 7,392
                                                                       
Costs and expenses
    Costs applicable to sales     1,036       1,088       3,733        3,107
    ^(1)
    Amortization                  299         272         981          751
    Reclamation and               20          17          56           49
    remediation
    Exploration                   60          115         195          309
    Advanced projects,            67          74          165          258
    research and development
    General and                   48          51          158          162
    administrative
    Write-downs                   3           -           2,265        -
    Other expense, net           84        131       260        377   
                                 1,617     1,748     7,813      5,013 
Other income (expense)
    Other income, net             290         52          366          121
    Interest expense, net        (76   )    (67   )    (211   )    (190  )
                                 214       (15   )    155        (69   )
Income (loss) before income
and mining tax and other          580         717         (1,505 )     2,310
items
Income and mining tax benefit     (154  )     (228  )     (10    )     (746  )
(expense)
Equity loss of affiliates        1         (9    )    (6     )    (39   )
Income (loss) from continuing     427         480         (1,521 )     1,525
operations
Income (loss) from               (21   )    (33   )    53         (104  )
discontinued operations
Net income (loss)                 406         447         (1,468 )     1,421
Net loss (income)
attributable to                  2         (80   )    172        (285  )
noncontrolling interests
Net income (loss)
attributable to Newmont         $ 408      $ 367      $ (1,296 )   $ 1,136 
stockholders
                                                                       
Net income (loss)
attributable to Newmont
stockholders:
             Continuing         $ 429       $ 400       $ (1,349 )   $ 1,240
             operations
             Discontinued        (21   )    (33   )    53         (104  )
             operations
                                $ 408      $ 367      $ (1,296 )   $ 1,136 
Income (loss) per common
share
    Basic:
             Continuing         $ 0.86      $ 0.81      $ (2.72  )   $ 2.50
             operations
             Discontinued        (0.04 )    (0.07 )    0.11       (0.21 )
             operations
                                $ 0.82     $ 0.74     $ (2.61  )   $ 2.29  
    Diluted:
             Continuing         $ 0.86      $ 0.81      $ (2.72  )   $ 2.48
             operations
             Discontinued        (0.04 )    (0.07 )    0.11       (0.21 )
             operations
                                $ 0.82     $ 0.74     $ (2.61  )   $ 2.27  
                                                                       
Cash dividends declared per     $ 0.25      $ 0.35      $ 1.025      $ 1.05
common share

_____________________________________________________________

^(1) Excludes Amortization and Reclamation and remediation.


NEWMONT MINING CORPORATION
                                                             
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)
                                                                      
                               Three Months Ended      Nine Months Ended
                               September 30,           September 30,
                               2013        2012        2013         2012
Operating activities:
  Net income (loss)            $ 406       $ 447       $ (1,468 )   $ 1,421
  Adjustments:
    Amortization                 299         272         981          751
    Stock based compensation
    and other non-cash           17          19          55           55
    benefits
    Reclamation and              20          17          56           49
    remediation
    Loss (income) from           21          33          (53    )     104
    discontinued operations
    Write-downs                  3           -           2,265        -
    Impairment of marketable     41          7           52           39
    securities
    Deferred income taxes        (51   )     13          (570   )     25
    Gain on asset and            (281  )     (2    )     (282   )     (12    )
    investment sales, net
    Other operating
    adjustments and              65          43          697          149
    write-downs
    Net change in operating     (97   )    (271  )    (558   )    (1,039 )
    assets and liabilities
Net cash provided from           443         578         1,175        1,542
continuing operations
Net cash used in                (3    )    (4    )    (14    )    (12    )
discontinued operations
Net cash provided from          440       574       1,161      1,530  
operations
Investing activities:
  Additions to property,         (408  )     (816  )     (1,528 )     (2,394 )
  plant and mine development
  Acquisitions, net              -           -           (13    )     (22    )
  Sale of marketable             587         103         588          209
  securities
  Purchases of marketable        -           (13   )     (1     )     (209   )
  securities
  Proceeds from sale of          6           -           55           13
  other assets
  Other                         (17   )    (11   )    (38    )    (48    )
Net cash used in investing      168       (737  )    (937   )    (2,451 )
activities
Financing activities:
  Proceeds from debt, net        275         -           1,262        3,343
  Repayment of debt              (526  )     (15   )     (1,060 )     (1,956 )
  Payment of conversion          -           -           -            (172   )
  premium on debt
  Proceeds from stock            -           5           2            20
  issuance, net
  Sale of noncontrolling         -           -           32           -
  interests
  Acquisition of                 (3    )     -           (13    )     -
  noncontrolling interests
  Dividends paid to              -           -           (2     )     (3     )
  noncontrolling interests
  Dividends paid to common       (124  )     (174  )     (509   )     (521   )
  stockholders
  Other                         (1    )    (1    )    (4     )    (2     )
Net cash provided from          (379  )    (185  )    (292   )    709    
financing activities
Effect of exchange rate         (2    )    -         (18    )    1      
changes on cash
Net change in cash and cash      227         (348  )     (86    )     (211   )
equivalents
Cash and cash equivalents at    1,248     1,897     1,561      1,760  
beginning of period
Cash and cash equivalents at   $ 1,475    $ 1,549    $ 1,475     $ 1,549  
end of period
                                                                             

NEWMONT MINING CORPORATION
                                                           
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in millions)
                                                                     
                                            At September 30,   At December 31,
                                            2013               2012
        ASSETS
Cash and cash equivalents                   $   1,475          $     1,561
Trade receivables                               215                  283
Accounts receivable                             257                  577
Investments                                     91                   86
Inventories                                     793                  796
Stockpiles and ore on leach pads                794                  786
Deferred income tax assets                      213                  195
Other current assets                           1,383              1,661
        Current assets                          5,221                5,945
Property, plant and mine development, net       16,322               18,010
Investments                                     540                  1,446
Stockpiles and ore on leach pads                2,851                2,896
Deferred income tax assets                      1,038                481
Other long-term assets                         827                872
        Total assets                        $   26,799        $     29,650
        LIABILITIES
Debt                                        $   587            $     10
Accounts payable                                545                  657
Employee-related benefits                       316                  339
Income and mining taxes                         98                   51
Other current liabilities                      1,712              2,084
        Current liabilities                     3,258                3,141
Debt                                            5,949                6,288
Reclamation and remediation liabilities         1,479                1,457
Deferred income tax liabilities                 758                  858
Employee-related benefits                       384                  586
Other long-term liabilities                    429                372
        Total liabilities                      12,257             12,702
Commitments and contingencies
        EQUITY
Common stock                                    789                  787
Additional paid-in capital                      8,439                8,330
Accumulated other comprehensive income          (56      )           490
(loss)
Retained earnings                              2,361              4,166
Newmont stockholders’ equity                    11,533               13,773
Noncontrolling interests                       3,009              3,175
        Total equity                           14,542             16,948
        Total liabilities and equity        $   26,799        $     29,650
                                                                     

Regional Operating Statistics     
Production Statistics Summary
                                    Three Months Ended    Nine Months Ended
                                    September 30,            September 30,
                                    2013       2012         2013      2012
Consolidated gold ounces produced
(thousands):
North America
Nevada                              468         457          1,233      1,270
La Herradura                        52          51           161        164
                                    520         508          1,394      1,434
South America
Yanacocha                           256         354          833        1,110
                                                                        
Australia/New Zealand
Boddington                          178         166          525        508
Other Australia/New Zealand         275         222          753        694
                                    453         388          1,278      1,202
                                                                        
Indonesia
Batu Hijau                          9           16           36         54
                                                                        
Africa
Ahafo                               144         131          408        438
                                    1,382       1,397        3,949      4,238
                                                                        
Consolidated copper pounds
produced (millions):
Boddington                          15          16           50         48
Batu Hijau                          39          39           115        124
                                    54          55           165        172
                                                                        
Attributable gold ounces produced
(thousands):
North America
Nevada                              468         457          1,233      1,270
La Herradura                        52          51           161        164
                                    520         508          1,394      1,434
South America
Yanacocha                           132         182          428        570
Other South America Equity          17          14           49         40
Interests
                                    149         196          477        610
                                                                        
Australia/New Zealand
Boddington                          178         166          525        508
Other Australia/New Zealand         275         222          753        694
Other Australia/New Zealand         14          7            43         16
Equity Interests
                                    467         395          1,321      1,218
                                                                        
Indonesia
Batu Hijau                          4           7            17         26
                                                                        
Africa
Ahafo                               144         131          408        438
                                    1,284       1,237        3,617      3,726
                                                                        
Attributable copper pounds
produced (millions):
Boddington                          15          16           50         48
Batu Hijau                          19          19           56         60
                                    34          35           106        108
                                                                        

CAS and Capital                                                
Expenditures
Gold Costs Applicable    Three Months Ended September   Nine Months Ended
to Sales ($/ounce)       30,                            September 30,
^(1)
                         2013             2012          2013         2012
North America
Nevada                   $    527         $   661       $  651       $  661
La Herradura                 765            608         755         585
                             550            655         663         652
South America
Yanacocha                     591             520          608          481
                                                                        
Australia/New Zealand
Boddington                    1,031           928          1,071        886
Other Australia/New          756            931         939         850
Zealand
                             854            930         995         866
Indonesia
Batu Hijau                    846             1,115        2,487        985
Africa
Ahafo                        513            561         554         571
Average                  $    649         $   693       $  763       $  664
Attributable to          $    654         $   716       $  773       $  689
Newmont
Copper Costs
Applicable to Sales
($/pound) ^(1)
Boddington               $    2.23        $   2.29      $  2.65      $  2.33
Batu Hijau                   2.74           2.38        5.60        2.19
Average                  $    2.63        $   2.38      $  4.61      $  2.23
Attributable to          $    2.56        $   2.35      $  4.09      $  2.23
Newmont
^(1)Consolidated Costs applicable to sales excludes Amortization and
Reclamation and remediation.
                                                                        
                                                        
Consolidated Capital     Three Months Ended September   Nine Months Ended
Expenditures ($          30,                            September 30,
million)
                         2013             2012          2013         2012
North America
Nevada                   $    117         $   149       $  360       $  489
La Herradura                  18              21           82           50
Other North America          1              1           1           31
                             136            171         443         570
South America
Yanacocha                     47              149          136          392
Conga                         23              125          184          467
Other South America          28             34          65          54
                             98             308         385         913
Australia/New Zealand
Boddington                    27              25           81           77
Other Australia/New          40             81          123         226
Zealand
                             67             106         204         303
Indonesia
Batu Hijau                   26             37          82          98
                             26             37          82          98
Africa
Ahafo                         23              68           139          176
Akyem                        50             116         209         305
                             73             184         348         481
Corporate and Other          -              5           7           22
Total - Accrual Basis    $    400         $   811       $  1,469     $  2,387
Change in Capital            8              5           59          7
Accrual
Total - Cash Basis       $    408         $   816       $  1,528     $  2,394
Attributable to
Newmont (Accrual         $    353         $   659       $  1,271     $  1,919
Basis)
                                                                        

Supplemental Information

Non-GAAP Financial Measures

Non-GAAP financial measures are intended to provide additional information
only and do not have any standard meaning prescribed by Generally Accepted
Accounting Principles (“GAAP”). These measures should not be considered in
isolation or as a substitute for measures of performance prepared in
accordance with GAAP.

Reconciliation of Adjusted Net Income to GAAP Net Income

Management uses the non-GAAP financial measure Adjusted net income to evaluate
the Company’s operating performance, and for planning and forecasting future
business operations. The Company believes the use of Adjusted net income
allows investors and analysts to compare the results of the continuing
operations of the Company and its direct and indirect subsidiaries relating to
the production and sale of minerals to similar operating results of other
mining companies, by excluding exceptional or unusual items, income or loss
from discontinued operations and the permanent impairment of assets, including
marketable securities and goodwill. Management’s determination of the
components of Adjusted net income are evaluated periodically and based, in
part, on a review of non-GAAP financial measures used by mining industry
analysts.

Net income attributable to Newmont stockholders is reconciled to Adjusted net
income as follows:

                                              
                     Three Months Ended           Nine Months Ended September
                     September 30,                30,
                     2013          2012          2013            2012
Net income (loss)
attributable to      $  408         $  367        $  (1,296  )     $  1,136
Newmont
stockholders
   Loss (income)
   from                 21             33            (53     )        104
   discontinued
   operations
   Impairments          29             7             1,530            38
   Tax valuation        -              -             535              -
   allowance
   TMAC
   transaction          -              -             30               -
   costs
   Restructuring        12             20            28               20
   and other
   Asset sales          (243  )        (1    )       (243    )        (8     )
   Boddington
   contingent          -            -           -              8      
   consideration
Adjusted net         $  227        $  426       $  531          $  1,298  
income
Adjusted net
income per share,    $  0.46        $  0.86       $  1.07          $  2.62
basic
Adjusted net
income per share,    $  0.46        $  0.85       $  1.07          $  2.60
diluted
                                                                      

Net income (loss) attributable to Newmont stockholders for the three and nine
months ended September 30, 2013 was impacted by stockpile and leach pad
write-downs of $35 and $310, respectively, net of tax and minority interest,
which is not reflected in the table above.

CAS per Ounce/Pound

Costs applicable to sales per ounce/pound are non-GAAP financial measures.
These measures are calculated by dividing the costs applicable to sales of
gold and copper by gold ounces or copper pounds sold, respectively. These
measures are calculated on a consistent basis for the periods presented on
both a consolidated and attributable to Newmont basis. Attributable costs
applicable to sales are based on our economic interest in production from our
mines. For operations where we hold less than a 100% economic share in the
production, we exclude the share of gold or copper production attributable to
the noncontrolling interest. We include attributable costs applicable to sales
per ounce/pound to provide management, investors and analysts with information
with which to compare our performance to other gold producers. Costs
applicable to sales per ounce/pound statistics are intended to provide
additional information only and do not have any standardized meaning
prescribed by GAAP and should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with GAAP. The
measures are not necessarily indicative of operating profit or cash flow from
operations as determined under GAAP. Other companies may calculate these
measures differently.

Net attributable costs applicable to sales per ounce measures the benefit of
copper produced in conjunction with gold, as a credit against the cost of
producing gold. A number of other gold producers present their costs net of
the contribution from copper and other non-gold sales. We believe that
including a measure on this basis provides management, investors and analysts
with information with which to compare our performance to other gold
producers, and to better assess the overall performance of our business. In
addition, this measure provides information to enable investors and analysts
to understand the importance of non-gold revenues to our cost structure.

The following tables reconcile these non-GAAP measures to the most directly
comparable GAAP measures.

Costs applicable to sales per ounce
                   Three Months Ended September   Nine Months Ended
                    30,                             September 30,
                    2013           2012            2013           2012
                                                                       
Costs applicable
to sales:
Consolidated per
financial           $  885          $  950          $  3,012        $  2,746
statements^(1)
Noncontrolling        (81    )       (99    )       (289   )       (278  )
interests^(2)
Attributable to     $  804         $  851         $  2,723       $  2,468 
Newmont
                                                                       
Gold sold (thousand ounces):
Consolidated           1,365           1,370           3,948           4,138
Noncontrolling        (135   )       (181   )       (424   )       (554  )
interests^(2)
Attributable to       1,230         1,189         3,524         3,584 
Newmont
                                                                       
Costs applicable
to sales per
ounce:
Consolidated        $  649          $  693          $  763          $  664
Attributable to     $  654          $  716          $  773          $  689
Newmont
                                                                       
^(1)Includes by-product credits of $67 and $155 in the third quarter and first
nine months of 2013, respectively and $57 and $165 in the third quarter and
first nine months of 2012, respectively.
^(2)Relates to partners' interests in Batu Hijau and Yanacocha.


Costs applicable to sales per pound
                     Three Months Ended           Nine Months Ended
                      September 30,                 September 30,
                      2013          2012           2013          2012
                                                                      
Costs applicable
to sales:
Consolidated per
financial             $  151         $  138         $  721         $  361
statements^(1)
Noncontrolling          (63   )       (51   )       (300  )       (131  )
interests^(2)
Attributable to       $  88         $  87         $  421        $  230   
Newmont
                                                                      
Copper sold (million pounds):
Consolidated             57             58             156            162
Noncontrolling          (22   )       (21   )       (53   )       (59   )
interests^(2)
Attributable to         35           37           103          103   
Newmont
                                                                      
Costs applicable
to sales per
pound:
Consolidated          $  2.63        $  2.38        $  4.61        $  2.23
Attributable to       $  2.56        $  2.35        $  4.09        $  2.23
Newmont
                                                                      
^(1)Includes by-product credits of $1 and $3 in the third quarter and first
nine months of 2013, respectively and $3 and $8 in the third quarter and first
nine months of 2012, respectively.
^(2)Relates to partners' interests in Batu Hijau.


Net attributable costs applicable to sales per ounce
                  Three Months Ended September  Nine Months Ended September
                   30,                            30,
                   2013           2012           2013           2012
                                                                     
Attributable
costs applicable
to sales:
Gold               $  804          $  851         $  2,723        $  2,468
Copper               88            87           421           230    
                     892           938          3,144         2,698  
                                                                     
Copper revenue:
Consolidated          (178   )        (206   )       (461   )        (569   )
Noncontrolling       70            75           157           209    
interests^(1)
                     (108   )       (131   )      (304   )       (360   )
Net attributable
costs applicable   $  784         $  807        $  2,840       $  2,338  
to sales
                                                                     
Attributable
gold ounces sold      1,230           1,189          3,524           3,584
(thousands)
Net attributable
costs applicable   $  637          $  679         $  806          $  652
to sales per
ounce
                                                                     
^(1)Relates to partners' interests in Batu Hijau.


All-In Sustaining Costs

Newmont has worked to develop a metric that expands on GAAP measures such as
cost of goods sold and non-GAAP measures to provide visibility into the
economics of our gold mining operations related to expenditures, operating
performance and the ability to generate cash flow from operations.

Current GAAP-measures used in the gold industry, such as cost of goods sold,
do not capture all of the expenditures incurred to discover, develop, and
sustain gold production. Therefore, we believe that all-in sustaining costs
and attributable all-in sustaining costs are non-GAAP measures that provide
additional information to management, investors, and analysts that aid in the
understanding of the economics of our operations and performance compared to
other gold producers and in the investor’s visibility by better defining the
total costs associated with producing gold.

All-in sustaining cost (“AISC”) amounts are intended to provide additional
information only and do not have any standardized meaning prescribed by GAAP
and should not be considered in isolation or as a substitute for measures of
performance prepared in accordance with GAAP. The measures are not necessarily
indicative of operating profit or cash flow from operations as determined
under GAAP. Other companies may calculate these measures differently as a
result of differences in the underlying accounting principles, policies
applied and in accounting frameworks such as in International Financial
Reporting Standards (“IFRS”), or by reflecting the benefit from selling
non-gold metals as a reduction to AISC. Differences may also arise related to
definitional differences of sustaining versus development capital activities
based upon each company’s internal policies.

The following disclosure provides information regarding the adjustments made
in determining the All-in sustaining costs measure:

Cost Applicable to Sales - Includes all direct and indirect costs related to
current gold production incurred to execute the current mine plan. It is
accounted for on an accrual basis and excludes Amortization and Reclamation
and remediation, which is consistent with our presentation of Costs Applicable
to Sales (“CAS”) on the Statement of Consolidated Income. In determining
All-in sustaining costs, only the CAS associated with producing and selling an
ounce of gold is included in the measure. Therefore, the amount of gold CAS
included in AISC is derived from the CAS presented in the Company’s Statement
of Consolidated Income less the amount of CAS attributable to the production
of copper at our Boddington and Batu Hijau mines. The copper CAS at those mine
sites is disclosed in Note 3 – Segments that accompanies the Consolidated
Financial Statements in the Company’s Form 10-Q in the quarter ended September
30, 2013, which is expected to be filed on October 31, 2013. The allocation of
CAS between gold and copper at the Boddington and Batu Hijau mines is based
upon the relative percentage of copper and gold sold during the period.

Remediation Costs - Includes accretion expense related to asset retirement
obligations (“ARO”) and the amortization of the related Asset Retirement Cost
(“ARC”) for the Company’s operating properties recorded as an ARC asset.
Accretion related to ARO and the amortization of the ARC assets for
reclamation and remediation do not reflect annual cash outflows but are
calculated in accordance with GAAP. The accretion and amortization reflect the
periodic costs of reclamation and remediation associated with current gold
production and are therefore included in the measure. The allocation of these
costs to gold and copper is determined using the same allocation used in the
allocation of CAS between gold and copper at the Boddington and Batu Hijau
mines.

Advanced Projects and Exploration - Includes incurred expenses related to
projects that are designed to increase or enhance current gold production and
gold exploration. We note that as current resources are depleted, exploration
and advance projects are necessary for us to replace the depleting reserves or
enhance the recovery and processing of the current reserves. As this relates
to sustaining our gold production, and is considered a continuing cost of a
mining company, these costs are included in the AISC measure. These costs are
derived from the Advanced projects, research and development and Exploration
amounts presented in the Company’s Statement of Consolidated Income less the
amount attributable to the production of copper at our Boddington and Batu
Hijau mines. The allocation of these costs to gold and copper is determined
using the same allocation used in the allocation of CAS between gold and
copper at the Boddington and Batu Hijau mines.

General and Administrative - Includes cost related to administrative tasks not
directly related to current gold production, but rather related to support our
corporate structure and fulfilling our obligations to operate as a public
company. Including these expenses in the AISC metric provides visibility of
the impact that general and administrative activities have on current
operations and profitability on a per ounce basis.

Other Expense, net - Includes costs related to regional administration and
community development to support current gold production. We exclude certain
exceptional or unusual expenses from Other expense, net, such as
restructuring, as these are not indicative to sustaining our current gold
operations. Furthermore, this adjustment to Other expense, net is also
consistent with the nature of the adjustments made to Net income (loss) as
disclosed in the Company’s non-GAAP financial measure Adjusted net income
(loss). The allocation of these costs to gold and copper is determined using
the same allocation used in the allocation of CAS between gold and copper at
the Boddington and Batu Hijau mines.

Sustaining Capital - We determined sustaining capital as those capital
expenditures that are necessary to maintain current gold production and
execute the current mine plan. Capital expenditures to develop new operations,
or related to projects at existing operations where these projects will
enhance gold production or reserves, are considered development. We determined
the breakout of sustaining and development capital costs based on a systematic
review of our project portfolio in light of the nature of each project.
Sustaining capital costs are relevant to the AISC metric as these are needed
to maintain the Company’s current gold operations and provide improved
transparency related to our ability to finance these expenditures from current
operations. The allocation of these costs to gold and copper is determined
using the same allocation used in the allocation of CAS between gold and
copper at the Boddington and Batu Hijau mines.

                                                                                                                    
                Costs                        Advanced                       Other                    All-In       Ounces      All-In
                                                                                                                              Sustaining
Three Months    Applicable     Remediation   Projects      General and      Expense,   Sustaining    Sustaining   Sold        Costs
Ended                                        and
September 30,   to             Costs^(3)     Exploration   Administrative   Net^(4)    Capital^(5)   Costs        (000)^(6)   per ounce
2013            Sales^(1)(2)
                                                                                                                              
Nevada          $     251      $     3       $    25       $      -         $  5       $    62       $   346      479         $   722
La Herradura          40             -            10              -            -            11           61       52              1,173
Other North          -             -           1              -           1          1           3        -           
America
North America        291           3           36             -           6          74          410      531            772
                                                                                                                              
Yanacocha             154            23           9               -            36           38           260      261             996
Conga                 -              -            15              -            3            -            18       -
Other South          -             -           4              -           (1  )       -           3        -           
America
South America        154           23          28             -           38         38          281      261            1,077
Attributable                                                                                            146      133            1,098
to Newmont
                                                                                                                              
Boddington            152            2            1               -            1            20           176      147             1,197
Other
Australia/New        202           7           7              -           8          41          265      266            996
Zealand
Australia/New        354           9           8              -           9          61          441      413            1,068
Zealand
                                                                                                                              
Batu Hijau           11            -           1              -           -          3           15       14             1,071
Indonesia            11            -           1              -           -          3           15       14             1,071
Attributable                                                                                            8        7              1,071
to Newmont
                                                                                                                              
Ahafo                 75             -            12              -            7            23           117      146             801
Akyem                 -              -            2               -            -            -            2        -
Other Africa         -             -           3              -           -          -           3        -           
Africa               75            -           17             -           7          23          122      146            836
                                                                                                                              
Corporate and        -             -           36             48          2          1           87       -           
Other
Consolidated    $     885      $     35      $    126      $      48        $  62     $    200      $   1,356    1,365       $   993
Attributable
to                                                                                                   $   1,214    1,230       $   987
Newmont^(6)
                                                                                                                              
(1)Excludes Amortization and Reclamation and remediation.
(2)Includes stockpile and leachpad write-downs of $3 at Nevada, $10 at Yanacocha, $20 at Boddington, and $2 at Batu Hijau.
(3)Remediation costs include operating accretion and amortization of asset retirement costs.
(4)Other expense, net is adjusted for restructuring of $20.
(5)Excludes capital expenditures for the following development projects: Phoenix Copper Leach, Turf Vent Shaft, Yanacocha Bio Leach,
Conga, Merian, Ahafo Mill Expansion, and Akyem for 2013.
(6)Excludes our attributable production from La Zanja and Duketon.


               Costs                      Advanced                     Other                  All-In      Ounces     All-In
                                                                                                                              Sustaining
Three Months    Applicable     Remediation   Projects      General and      Expense,   Sustaining    Sustaining   Sold        Costs
Ended                                        and
September 30,   to             Costs^(3)     Exploration   Administrative   Net^(4)    Capital^(5)   Costs        (000)^(6)   per ounce
2012            Sales^(1)(2)
                                                                                                                                  
Nevada          $     292      $     3       $    47       $      -         $   7      $   101       $   450      442         $   1,018
La Herradura          31             -            11              -             -          10            52       51              1,020
Other North          -             -           1              -            -         -           1        -              -
America
North America        323           3           59             -            7         111         503      493            1,020
                                                                                                                                  
Yanacocha             185            8            14              -             13         142           362      356             1,017
Conga                 -              -            9               -             -          -             9        -               -
Other South          -             -           15             -            2         (1   )       16       -              -
America
South America        185           8           38             -            15        141         387      356            1,087
Attributable                                                                                            206      183            1,126
to Newmont
                                                                                                                                  
Boddington            155            2            2               -             -          19            178      167             1,066
Other
Australia/New        201           6           23             -            11        59          300      216            1,389
Zealand
Australia/New        356           8           25             -            11        78          478      383            1,248
Zealand
                                                                                                                                  
Batu Hijau           17            1           1              -            1         5           25       15             1,667
Indonesia            17            1           1              -            1         5           25       15             1,667
Attributable                                                                                            10       7              1,667
to Newmont
                                                                                                                                  
Ahafo                 69             1            20              -             7          25            122      123             992
Akyem                 -              -            6               -             -          -             6        -               -
Other Africa         -             -           3              -            -         -           3        -              -
Africa               69            1           29             -            7         25          131      123            1,065
                                                                                                                                  
Corporate and        -             -           30             51           6         4           91       -              -
Other
Consolidated    $     950      $     21      $    182      $      51        $   47     $   364      $   1,615    1,370       $   1,179
Attributable
to                                                                                                   $   1,419    1,189       $   1,193
Newmont^(6)
                                                                                                                                  
(1)Excludes Amortization and Reclamation and remediation.
(2)Includes stockpile and leach pad write-downs of $2 at Yanacocha and $2 at Other Australia/New Zealand.
(3)Remediation costs include operating accretion and amortization of asset retirement costs.
(4)Other expense, net is adjusted for Hope Bay care and maintenance of $27 and restructuring of $48.
(5)Excludes capital expenditures for the following development projects: Phoenix Copper Leach, Turf Vent Shaft, Emigrant, Yanacocha Bio
Leach, Conga, Merian, Tanami Shaft, Ahafo Mill Expansion, and Akyem for 2012.
(6)Excludes our attributable production from La Zanja and Duketon.


Consolidated Spending          Nine Months Ended September 30,
($M)
                                2013                       2012
Cost applicable to sales        $     3,733                 $    3,107
Stockpile write-downs                 (624      )                (26      )
Advanced projects,
research and development,             360                        567
and Exploration
General and                           158                        162
administrative
Other expense, net^(1)                167                        188
Sustaining capital                   754                      1,243    
Consolidated Spending           $     4,548                $    5,241    
                                                                 
^(1)Other expense, net is adjusted for restructuring of $50, TMAC transaction
costs of $45, and Hope Bay care and maintenance of ($2) for 2013; 2012 other
expense, net is adjusted for Hope Bay care and maintenance of $129, Boddington
contingent consideration of $12, and restructuring costs of $48.


Conference Call Information

A conference call will be held on Friday, November 1, 2013 at 10:00 a.m.
Eastern Time (8:00 a.m. Mountain Time); it will also be carried on the
Company's website.

Conference Call Details
            
    Dial-In      888.566.1822
    Number
    Intl
    Dial-In      312.470.7116
    Number
    Leader       John Seaberg
    Passcode     Newmont
    Replay       888.566.0132
    Number
    Intl
    Replay       402.998.0854
    Number
    Replay       2013
    Passcode

Webcast Details
                 
                 <a
    URL          href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fservices.choruscall.com%2Flinks%2Fnewmont131101.html&esheet=50741566&newsitemid=20131031006528&*Story
                 too large*

[TRUNCATED]
 
Press spacebar to pause and continue. Press esc to stop.