Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company)
reported gold reserves of 68.5 million attributable ounces for
2017, unchanged from 2016 as additions and revisions fully replaced
depletion at a constant gold price, and increased gold resources1
to 48.2 million ounces.
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2017 attributable gold Reserves (Moz)
(Graphic: Business Wire)
The Company added 6.4 million ounces of gold reserves, 4.4
million ounces through exploration and projects and 2.0 million
ounces through revisions and acquisitions. Newmont reported 5.3
million ounces of attributable mine production in 2017 resulting in
6.4 million contained ounces of reserve depletion.
Notable additions and revisions for the year include 1.8 million
ounces at Boddington, 0.8 million ounces each at Carlin Underground
and Cripple Creek & Victor, 0.7 million equity ounces at
Turquoise Ridge, 0.6 million ounces at Ahafo Open Pits and 0.4
million ounces at Tanami. These improvements demonstrate a
strengthened reserve base across the portfolio.
Gold reserve grades decreased five percent to 1.14 grams per
tonne compared to 1.20 grams per tonne in the prior year, largely
due to the conversion of lower grade ounces at Boddington and
Cripple Creek & Victor.
Gold resources increased to 48.2 million ounces, up one percent
from the prior year and offsetting the conversion of resource
ounces to reserves. The Company added 6.9 million ounces of gold
resource through exploration and studies at a constant gold price
and 0.7 million ounces through acquisitions which more than offset
the conversion of 7.2 million ounces to reserves.
Notable resource additions include first-time declarations at
Akyem Underground of 1.3 million ounces and Sabajo (Merian) of 0.6
million equity ounces, 0.9 million ounces at Tanami, 0.7 million
ounces at Turquoise Ridge and further additions of 0.5 million
ounces each at Yanacocha, Boddington, Carlin Open Pit, Carlin
Underground and Ahafo Underground.
Resource grades improved seven percent to 0.92 grams per tonne
compared to 0.86 grams per tonne in the prior year, largely due to
higher grade underground additions at Akyem, Carlin, Ahafo and
Turquoise Ridge, and the conversion of lower grade resource ounces
to reserves at Boddington and Cripple Creek & Victor.
The Company reported attributable Measured and Indicated2 gold
resources of 34.3 million ounces, up two percent from the prior
year, and 14.0 million ounces of attributable Inferred gold
resources, unchanged from the prior year.
Copper
The Company increased copper reserves by seven percent to 1.2
million tonnes and copper resources1 were largely unchanged at 2.3
million tonnes.
Exploration Outlook
Newmont’s total attributable exploration expenditure3 is
expected to increase to approximately $230 million in 2018 with
about 70 percent allocated to just-in-time delivery of the highest
margin reserves and resources and the remaining 30 percent
allocated to greenfields, brownfields and innovation programs.
Geographically, the Company expects to spend about 39 percent of
this amount 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 eight percent decrease in
gold reserves. These sensitivities assume an oil price of $55 per
barrel (WTI) and an Australian dollar exchange rate of $0.75.
For additional details on Newmont’s reported Gold, Copper and
Silver Mineral Reserves and Resources, please refer to the tables
at the end of this release.
Key Assumptions:
Years Ended December 31, 2017
2016 Gold Reserves (US$/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 $3.00
Australian Dollar (A$:US$) $0.75 $0.75 West Texas Intermediate
(US$/bbl) $55 $55
1
Resources include measured, indicated and
inferred resources; see cautionary statement at the end of this
release regarding reserves and resources.
2
Totals may not sum due to rounding; see
Attributable Gold Mineral Resources tables at the end of this
release.
3
Includes capitalized and expensed
exploration.
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 Earth’s 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 2018, 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 2018.
Attributable Proven, Probable, and
Combined Gold Reserves(1), U.S. Units
December 31, 2017
December 31, 2016
Proven Reserves Probable Reserves
Proven and Probable Reserves Proven + 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 by Reporting Unit 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 % 2,900 0.107 310 255,100 0.031 8,030 258,000 0.032 8,340 59 %
255,300 0.033 8,500
Carlin Stockpiles(5)
100 % 18,900 0.062 1,180 — — — 18,900 0.062 1,180 84 % 21,200 0.063
1,330
Carlin Underground(6)
100 % 12,000 0.297 3,550 6,400 0.278 1,760 18,400 0.291 5,310 84 %
18,600 0.278 5,170 Total Carlin, Nevada 33,800 0.149 5,040 261,500
0.037 9,790 295,300 0.050 14,830 70 % 295,100 0.051 15,000
Phoenix(7)
100 % 6,200 0.023 140 243,700 0.016 3,890 249,900 0.016 4,030 74 %
256,600 0.017 4,340 Lone Tree 100 % 3,700 0.007 20 — — — 3,700
0.007 20 39 % 3,800 0.011 40 Total Phoenix, Nevada 9,900 0.016 160
243,700 0.016 3,890 253,600 0.016 4,050 74 % 260,400 0.017 4,380
Turquoise Ridge(8)
25 % 2,600 0.455 1,200 1,800 0.452 780 4,400 0.454 1,980 92 % 2,900
0.455 1,340
Twin Creeks(9)
100 % 4,200 0.033 140 27,700 0.045 1,260 31,900 0.044 1,400 75 %
29,900 0.053 1,590
Twin Creeks Stockpiles(5)
100 % 31,900 0.063 2,010 — — — 31,900 0.063 2,010 72 % 32,000 0.063
2,000 Total Twin Creeks, Nevada 38,700 0.087 3,350 29,500 0.069
2,040 68,200 0.079 5,390 80 % 64,800 0.076 4,930
Long Canyon, Nevada(10)
100 % 900 0.066 60 20,700 0.048 1,010 21,600 0.049 1,070 76 %
19,200 0.061 1,170
CC&V(11)
100 % 102,000 0.017 1,770 23,500 0.014 320 125,500 0.017 2,090 62 %
90,400 0.021 1,870
CC&V Leach Pad(12)
100 % — — — 45,800 0.025 1,140 45,800 0.025 1,140 56 % 48,500 0.025
1,210
CC&V Stockpiles(5)
100 % 2,900 0.084 250 — — — 2,900 0.084 250 85 % 2,800 0.112 310
Total CC&V, Colorado 104,900 0.019 2,020 69,300 0.021 1,460
174,200 0.020 3,480 62 % 141,700 0.024 3,390
TOTAL NORTH
AMERICA 188,200 0.057 10,630
624,700 0.029 18,190 812,900
0.035 28,820 75 % 781,200
0.037 28,870 South America
Yanacocha Open Pits(13)
54.05 % 12,500 0.022 270 80,500 0.018 1,450 93,000 0.018 1,720 70 %
99,300 0.018 1,810
Yanacocha Leach Pad(12)
54.05 % 6,300 0.022 130 — — — 6,300 0.022 130 73 % 8,600 0.020 170
Yanacocha Stockpiles(5)
54.05 % 5,100 0.042 220 — — — 5,100 0.042 220 56 % 5,800 0.044 260
Total Yanacocha, Peru(22)
23,900 0.026 620 80,500 0.018 1,450 104,400 0.020 2,070 69 %
113,700 0.020 2,240
Merian, Suriname(14)
75 % 39,600 0.043 1,720 72,000 0.031 2,250 111,600 0.036 3,970 93 %
116,800 0.037 4,290
TOTAL SOUTH AMERICA 63,500
0.037 2,340 152,500 0.024 3,700
216,000 0.028 6,040 83 %
230,500 0.028 6,530 Australia
Boddington Open Pit(15)
100 % 268,800 0.021 5,570 277,700 0.020 5,680 546,500 0.021 11,250
83 % 467,600 0.022 10,300
Boddington Stockpiles(5)
100 % 15,400 0.017 260 89,100 0.013 1,140 104,500 0.013 1,400 77 %
99,600 0.013 1,340 Total Boddington, Western Australia 284,200
0.020 5,830 366,800 0.019 6,820 651,000 0.019 12,650 83 % 567,200
0.021 11,640
Tanami, Northern Territory(16)
100 % 10,000 0.172 1,740 16,400 0.162 2,670 26,400 0.166 4,410 98 %
25,600 0.175 4,480
Kalgoorlie Open Pit and
Underground(17)
50 % 7,400 0.059 440 26,400 0.064 1,700 33,800 0.063 2,140 83 %
40,200 0.063 2,530
Kalgoorlie Stockpiles(5)
50 % 75,400 0.023 1,730 — — — 75,400 0.023 1,730 74 % 70,100 0.023
1,610 Total Kalgoorlie, Western Australia 82,800 0.026 2,170 26,400
0.064 1,700 109,200 0.035 3,870 79 % 110,300 0.038 4,140
TOTAL
AUSTRALIA 377,000 0.026 9,740
409,600 0.027 11,190 786,600
0.027 20,930 84 % 703,100
0.029 20,260 Africa
Ahafo South Open Pits(18)
100 % 17,100 0.062 1,060 54,200 0.050 2,700 71,300 0.053 3,760 90 %
64,500 0.054 3,500
Ahafo Underground(19)
100 % —
—
—
11,600 0.136 1,590 11,600 0.136 1,590 93 % 11,700 0.131 1,530
Ahafo Stockpiles(5)
100 % 41,300 0.028 1,160 — — — 41,300 0.028 1,160 87 % 42,000 0.028
1,190 Total Ahafo South, Ghana 58,400 0.038 2,220 65,800 0.065
4,290 124,200 0.052 6,510 90 % 118,200 0.053 6,220
Ahafo North, Ghana(20)
100 % — — — 48,000 0.070 3,350 48,000 0.070 3,350 91 % 47,900 0.069
3,330
Akyem Open Pit(21)
100 % 13,200 0.050 660 38,400 0.048 1,840 51,600 0.048 2,500 90 %
60,700 0.047 2,880
Akyem Stockpiles(5)
100 % 11,200 0.028 320 — — — 11,200 0.028 320 90 % 10,800 0.035 370
Total, Akyem, Ghana 24,400 0.040 980 38,400 0.048 1,840 62,800
0.045 2,820 90 % 71,500 0.045 3,250
TOTAL AFRICA
82,800 0.038 3,200 152,200 0.062
9,480 235,000 0.054 12,680 90
% 237,600 0.054 12,800 TOTAL NEWMONT
WORLDWIDE 711,500 0.036 25,910
1,339,000 0.032 42,560 2,050,500
0.033 68,470 81 % 1,952,400
0.035 68,460 (1) See cautionary
statement regarding reserves and resources at end of release. 2017
and 2016 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 2017
reserves were as follows: oxide leach material not less than 0.006
ounce per ton; oxide mill material not less than 0.015 ounce per
ton; flotation material not less than 0.016 ounce per ton; and
refractory mill material not less than 0.080 ounce per ton. (5)
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. (6) Cut-off grade utilized in 2017 reserves not less than
0.042 ounce per ton. (7) Gold cut-off grade varies with level of
copper and silver credits. (8)
Reserves estimates provided by Barrick as
of February 5th 2018, the operator of the Turquoise Ridge joint
venture.
(9) Cut-off grades utilized in 2017 reserves were as follows: oxide
leach material not less than 0.007 ounce per ton; oxide mill
material not less than 0.019 ounce per ton; and refractory mill
material not less than 0.038 ounce per ton. (10) Cut-off grade
utilized in 2017 reserves not less than 0.007 ounce per ton. (11)
Cut-off grades utilized in 2017 reserves were as follows: oxide
mill material not less than 0.040 ounce per ton and leach material
not less than 0.005 ounce per ton. (12) 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. (13) Gold cut-off grades utilized
in 2017 reserves were as follows: oxide leach material not less
than 0.004 ounce per ton; and oxide mill material not less than
0.011 ounce per ton. (14) Cut-off grades utilized in 2017 reserves
not less than 0.011 ounce per ton. (15) Gold cut-off grade varies
with level of copper credits. (16) Cut-off grade utilized in 2017
reserves not less than 0.058 ounce per ton. (17) Cut-off grade
utilized in 2017 insitu reserves not less than 0.026 ounce per ton.
(18) Cut-off grade utilized in 2017 reserves not less than 0.016
ounce per ton. (19) Cut-off grade utilized in 2017 reserves not
less than 0.076 ounce per ton. (20) Includes undeveloped reserves
at six pits in the Ahafo trend totaling 3.4 million ounces. Cut-off
grade utilized in 2017 reserves not less than 0.014 ounce per ton.
(21) Cut-off grade utilized in 2017 reserves not less than 0.017
ounce per ton. (22) 2016 Yanacocha ownership was 51.35%.
Attributable Proven, Probable, and Combined
Gold Reserves(1), Metric Units
December 31, 2017
December 31, 2016 Proven
Reserves Probable Reserves Proven and
Probable Reserves Proven + 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 by Reporting Unit
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 Carlin Open Pits
100 % 2,600 3.66 310 231,400 1.08 8,030 234,000 1.11 8,340 59 %
231,600 1.14 8,500
Carlin Stockpiles(5)
100 % 17,200 2.14 1,180 — — — 17,200 2.14 1,180 84 % 19,200 2.14
1,330 Carlin Underground 100 % 10,800 10.19 3,550 5,600 9.53 1,760
16,400 9.96 5,310 84 % 16,900 9.53 5,170
Total Carlin, Nevada
30,600 5.12 5,040 237,000 1.28 9,790 267,600 1.72 14,830 70 %
267,700 1.74 15,000 Phoenix 100 % 5,600 0.77 140 221,000 0.55 3,890
226,600 0.55 4,030 74 % 232,800 0.58 4,340 Lone Tree 100 % 3,400
0.25 20 — — — 3,400 0.25 20 39 % 3,400 0.41 40 Total Phoenix,
Nevada 9,000 0.55 160 221,000 0.55 3,890 230,000 0.55 4,050 74 %
236,200 0.58 4,380
Turquoise Ridge(8)
25 % 2,400 15.61 1,200 1,500 15.48 780 3,900 15.56 1,980 92 % 2,700
15.21 1,340 Twin Creeks 100 % 3,800 1.15 140 25,100 1.56 1,260
28,900 1.51 1,400 75 % 27,100 1.82 1,590
Twin Creeks Stockpiles(5)
100 % 29,000 2.16 2,010 — — — 29,000 2.16 2,010 72 % 29,000 2.15
2,000 Total Twin Creeks, Nevada 35,200 2.96 3,350 26,600 2.39 2,040
61,800 2.71 5,390 80 % 58,800 2.62 4,930 Long Canyon, Nevada 100 %
800 2.25 60 18,900 1.66 1,010 19,700 1.68 1,070 76 % 17,500 2.10
1,170 CC&V 100 % 92,600 0.60 1,770 21,400 0.48 320 114,000 0.57
2,090 62 % 82,000 0.71 1,870
CC&V Stockpiles(5)
100 % 2,700 2.89 250 — — — 2,700 2.89 250 85 % 2,500 3.83 310
CC&V Leach Pad(12)
100 % — — — 41,500 0.86 1,140 41,500 0.86 1,140 56 % 44,000 0.86
1,210 Total CC&V, Colorado 95,300 0.66 2,020 62,900 0.73 1,460
158,200 0.69 3,480 62 % 128,500 0.82 3,390
TOTAL NORTH
AMERICA 170,900 1.94 10,630 566,400
1.00 18,190 737,300 1.22 28,820
75 % 708,700 1.27 28,870
South America Yanacocha Open Pits 54.05 % 11,200 0.74 270
73,000 0.62 1,450 84,200 0.63 1,720 70 % 90,000 0.63 1,810
Yanacocha Stockpiles(5)
54.05 % 4,700 1.44 220 — — — 4,700 1.44 220 56 % 5,300 1.52 260
Yanacocha Leach Pad(12)
54.05 % 5,700 0.75 130 — — — 5,700 0.75 130 73 % 7,800 0.68 170
Total Yanacocha, Peru(22)
21,600 0.89 620 73,000 0.62 1,450 94,600 0.68 2,070 69 % 103,100
0.68 2,240 Merian, Suriname 75 % 35,900 1.49 1,720 65,300 1.08
2,250 101,200 1.22 3,970 93 % 106,000 1.26 4,290
TOTAL SOUTH
AMERICA 57,500 1.26 2,340 138,300
0.83 3,700 195,800 0.96 6,040
83 % 209,100 0.97 6,530
Australia Pacific Boddington Open Pit 100 % 243,900 0.71
5,570 252,000 0.70 5,680 495,900 0.71 11,250 83 % 424,200 0.76
10,300
Boddington Stockpiles(5)
100 % 14,000 0.57 260 80,900 0.44 1,140 94,900 0.46 1,400 77 %
90,400 0.46 1,340 Total Boddington, Western Australia 257,900 0.70
5,830 332,900 0.64 6,820 590,800 0.67 12,650 83 % 514,600 0.70
11,640 Tanami, Northern Territory 100 % 9,100 5.89 1,740 15,000
5.56 2,670 24,100 5.69 4,410 98 % 23,200 6.00 4,480 Kalgoorlie Open
Pit and Underground 50 % 6,800 2.03 440 23,900 2.21 1,700 30,700
2.17 2,140 83 % 36,500 2.16 2,530
Kalgoorlie Stockpiles(5)
50 % 68,300 0.78 1,730 — — — 68,300 0.78 1,730 74 % 63,600 0.79
1,610 Total Kalgoorlie, Western Australia 75,100 0.89 2,170 23,900
2.21 1,700 99,000 1.21 3,870 79 % 100,100 1.29 4,140
TOTAL
AUSTRALIA 342,100 0.88 9,740
371,800 0.94 11,190 713,900 0.91
20,930 84 % 637,900 0.99
20,260 Africa Ahafo South Open Pits 100 % 15,600 2.13
1,060 49,300 1.71 2,700 64,900 1.81 3,760 90 % 58,500 1.86 3,500
Ahafo Underground 100 % —
—
— 10,500 4.68 1,590 10,500 4.67 1,590 93 % 10,600 4.50 1,530
Ahafo Stockpiles(5)
100 % 37,600 0.95 1,160 — — — 37,600 0.95 1,160 87 % 38,100 0.97
1,190 Total Ahafo South, Ghana 53,200 1.30 2,220 59,800 2.23 4,290
113,000 1.79 6,510 90 % 107,200 1.80 6,220 Ahafo North, Ghana 100 %
— — — 43,500 2.39 3,350 43,500 2.39 3,350 91 % 43,500 2.38 3,330
Akyem Open Pit 100 % 12,000 1.71 660 34,900 1.64 1,840 46,900 1.66
2,500 90 % 55,000 1.63 2,880
Akyem Stockpiles(5)
100 % 10,200 0.95 320 — — — 10,200 0.95 320 90 % 9,800 1.19 370
Total, Akyem, Ghana 22,200 1.36 980 34,900 1.64 1,840 57,100 1.53
2,820 90 % 64,800 1.56 3,250
TOTAL AFRICA 75,400
1.31 3,200 138,200 2.13 9,480
213,600 1.84 12,680 90 %
215,500 1.85 12,800 TOTAL NEWMONT
WORLDWIDE 645,900 1.25 25,910
1,214,700 1.09 42,560 1,860,600
1.14 68,470 81 % 1,771,200
1.20 68,460
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, 2017, U.S.
Units
Gold Measured Resource
Gold Indicated Resource Gold Measured + Indicated
Resource(3) Gold Inferred Resource Newmont Tonnage
Grade Au Tonnage Grade
Au Tonnage Grade Au
Tonnage Grade Au 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 % 2,200
0.096 210 89,200 0.040 3,530 91,400 0.041 3,740 14,500 0.027 400
Carlin Trend Underground 100 % 800 0.199 160 1,800 0.220 420 2,600
0.214 580 2,700 0.276 710 Total Carlin, Nevada 3,000 0.123 370
91,000 0.043 3,950 94,000 0.046 4,320 17,200 0.065 1,110 Phoenix
100 % 2,300 0.011 30 210,800 0.013 2,750 213,100 0.013 2,780 46,300
0.011 510
Phoenix Stockpiles(4)
100 % — — — — — — — — — 2,300 0.043 100 Buffalo Valley 70 % — — —
15,500 0.019 290 15,500 0.019 290 400 0.011 — Total Phoenix, Nevada
2,300 0.013 30 226,300 0.013 3,040 228,600 0.013 3,070 49,000 0.012
610 Twin Creeks 100 % 1,700 0.076 130 33,900 0.059 1,970 35,600
0.059 2,100 17,900 0.041 740
Twin Creeks Stockpiles(4)
100 % 8,500 0.059 500 — — — 8,500 0.059 500 — — — Sandman 100 % — —
— 1,300 0.036 50 1,300 0.036 50 1,100 0.054 60
Turquoise Ridge(5)
25 % 1,100 0.264 280 800 0.273 210 1,900 0.268 490 600 0.380 240
Total Twin Creeks, Nevada 11,300 0.081 910 36,000 0.062 2,230
47,300 0.066 3,140 19,600 0.053 1,040 Long Canyon, Nevada 100 % 600
0.112 60 15,400 0.102 1,570 16,000 0.103 1,630 6,500 0.056 360
CC&V,Colorado 100 % 39,100 0.015 590 30,100 0.014 400 69,200
0.014 990 19,000 0.012 230
TOTAL NORTH AMERICA 56,300
0.035 1,960 398,800 0.028 11,190
455,100 0.029 13,150 111,300
0.030 3,350 South America Conga, Peru 54.05 %
— — — 413,300 0.019 7,880 413,300 0.019 7,880 137,400 0.011 1,550
Yanacocha, Peru 54.05 % 5,900 0.014 80 74,300 0.034 2,510 80,200
0.032 2,590 99,200 0.027 2,720 Merian, Suriname 75 % 700 0.202 140
26,000 0.040 1,040 26,700 0.044 1,180 34,100 0.040 1,380
TOTAL
SOUTH AMERICA 6,600 0.034 220
513,600 0.022 11,430 520,200
0.022 11,650 270,700 0.021 5,650
Australia Boddington, Western Australia 100 % 82,400 0.015
1,260 219,200 0.016 3,500 301,600 0.016 4,760 7,400 0.015 110
Tanami, Northern Territory 100 % 500 0.098 50 4,300 0.153 660 4,800
0.148 710 5,000 0.158 790 Kalgoorlie, Western Australia 50 % 3,500
0.028 100 13,300 0.035 470 16,800 0.034 570 1,300 0.072 110
TOTAL AUSTRALIA 86,400 0.016 1,410
236,800 0.020 4,630 323,200
0.019 6,040 13,700 0.073 1,010
Africa Ahafo 100 % 900 0.016 10 34,400 0.034 1,160 35,300
0.033 1,170 17,000 0.045 760 Ahafo Underground 100 % — — — 11,400
0.132 1,500 11,400 0.132 1,500 12,600 0.125 1,580 Total Ahafo
South, Ghana 900 0.011 10 45,800 0.058 2,660 46,700 0.057 2,670
29,600 0.079 2,340 Ahafo North, Ghana 100 % 2,400 0.033 90 8,300
0.052 440 10,700 0.048 530 8,300 0.052 440 Akyem Open Pits 100 % —
— — 3,100 0.015 50 3,100 0.015 50 — — — Akyem Underground 100 % — —
— 1,300 0.137 180 1,300 0.137 180 9,000 0.129 1,170 Total Akyem,
Ghana — —
—
4,400 0.052 230 4,400 0.052 230 9,000 0.130 1,170
TOTAL
AFRICA 3,300 0.028 100 58,500
0.057 3,330 61,800 0.055 3,430
46,900 0.084 3,950 TOTAL NEWMONT
WORLDWIDE 152,600 0.024 3,690
1,207,700 0.025 30,580 1,360,300
0.025 34,270 442,600 0.032
13,960 (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 2016 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 Newmont’s 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 as
of February 5th 2018, the operator of the Turquoise Ridge Joint
Venture.
Attributable Gold Mineral
Resources(1)(2) — December 31, 2017, Metric
units
Gold Measured Resource
Gold Indicated Resource Gold Measured + Indicated
Resource(3) Gold Inferred Resource Newmont Tonnage
Grade Au Tonnage Grade
Au Tonnage Grade Au
Tonnage Grade Au 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 % 2,000 3.30 210 80,800 1.36 3,530 82,800 1.40 3,740 13,100
0.94 400 Carlin Trend Underground 100 % 700 6.82 160 1,800 7.53 420
2,500 7.33 580 2,300 9.45 710 Total Carlin, Nevada 2,700 4.26 370
82,600 1.49 3,950 85,300 1.58 4,320 15,400 2.24 1,110 Phoenix 100 %
2,100 0.37 30 191,300 0.45 2,750 193,400 0.45 2,780 42,000 0.38 510
Phoenix Stockpiles(4)
100 % —
—
— — — — — — — 2,100 1.48 100 Buffalo Valley 70 % — — — 14,100 0.65
290 14,100 0.65 290 400 0.38 — Total Phoenix, Nevada 2,100 0.44 30
205,400 0.46 3,040 207,500 0.46 3,070 44,500 0.43 610 Twin Creeks
100 % 1,600 2.61 130 30,700 2.01 1,970 32,300 2.04 2,100 16,400
1.41 740
Twin Creeks Stockpiles(4)
100 % 7,700 2.01 500 — — — 7,700 2.01 500 — — — Sandman 100 % — — —
1,200 1.23 50 1,200 1.23 50 1,100 1.85 60
Turquoise Ridge(5)
25 % 900 9.04 280 700 9.37 210 1,600 9.18 490 600 13.03 240 Total
Twin Creeks, Nevada 10,200 2.77 910 32,600 2.13 2,230 42,800 2.28
3,140 18,100 1.79 1,040 Long Canyon, Nevada 100 % 500 3.84 60
14,000 3.50 1,570 14,500 3.52 1,630 5,900 1.93 360
CC&V,Colorado 100 % 35,500 0.52 590 27,400 0.47 400 62,900 0.50
990 17,200 0.41 230
TOTAL NORTH AMERICA 51,000
1.19 1,960 362,000 0.96 11,190
413,000 0.99 13,150 101,100 1.03
3,350 South America Conga, Peru 54.05 % — — — 375,000
0.65 7,880 375,000 0.65 7,880 124,600 0.39 1,550 Yanacocha, Peru
54.05 % 5,400 0.47 80 67,200 1.16 2,510 72,600 1.11 2,590 90,000
0.94 2,720 Merian, Suriname 75 % 600 6.92 140 23,500 1.36 1,040
24,100 1.51 1,180 30,900 1.38 1,380
TOTAL SOUTH AMERICA
6,000 1.17 220 465,700 0.76
11,430 471,700 0.77 11,650
245,500 0.72 5,650 Australia
Boddington, Western Australia 100 % 74,700 0.52 1,260 198,800 0.55
3,500 273,500 0.54 4,760 6,600 0.50 110 Tanami, Northern Territory
100 % 400 3.37 50 4,000 5.26 660 4,400 5.07 710 4,600 5.42 790
Kalgoorlie, Western Australia 50 % 3,100 0.96 100 12,200 1.21 470
15,300 1.16 570 1,300 2.48 110
TOTAL AUSTRALIA 78,200
0.56 1,410 215,000 0.67 4,630
293,200 0.64 6,040 12,500 2.50
1,010 Africa Ahafo 100 % 800 0.53 10 31,200 1.16
1,160 32,000 1.14 1,170 15,400 1.55 760 Ahafo Underground 100 % — —
— 10,300 4.51 1,500 10,300 4.51 1,500 11,500 4.29 1,580 Total Ahafo
South, Ghana 800 0.53 10 41,500 1.99 2,660 42,300 1.96 2,670 26,900
2.71 2,340 Ahafo North, Ghana 100 % 2,200 1.13 90 7,400 1.80 440
9,600 1.65 530 7,500 1.79 440 Akyem Open Pits 100 % — — — 2,800
0.53 50 2,800 0.53 50 — — — Akyem Underground 100 % — — — 1,200
4.71 180 1,200 4.71 180 8,200 4.44 1,170 Akyem, Ghana — — — 4,000
1.79 230 4,000 1.79 230 8,200 4.44 1,170
TOTAL AFRICA
3,000 0.97 100 52,900 1.95
3,330 55,900 1.90 3,430 42,600
2.88 3,950 TOTAL NEWMONT WORLDWIDE
138,200 0.83 3,690 1,095,600
0.87 30,580 1,233,800 0.86
34,270 401,700 1.08 13,960
See Footnotes in Gold Resources U.S. units table.
Attributable Copper
Reserves(1), U.S. Units
December 31, 2017
December 31, 2016
Proven Reserves Probable Reserves
Proven + Probable Reserves Proven + Probable Reserve
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 % 56,300 0.21 % 240 338,400 0.16 % 1,090 394,700 0.17 % 1,330
60 % 395,500 0.16 % 1,260
TOTAL NORTH AMERICA 56,300
0.21 % 240 338,400 0.16 %
1,090 394,700 0.17 % 1,330
60 % 395,500 0.16 % 1,260
Australia
Boddington Open Pit, Western
Australia(5)
100 % 268,800 0.10 % 520 277,700 0.11 % 640 546,500 0.11 % 1,160 79
% 467,600 0.11 % 1,060 Boddington Stockpiles, Western Australia(6)
100 % 15,400 0.09 % 30 89,100 0.08 % 150 104,500 0.09 % 180 73 %
99,600 0.09 % 170
TOTAL AUSTRALIA 284,200 0.10
% 550 366,800 0.11 % 790
651,000 0.10 % 1,340 78 %
567,200 0.11 % 1,230 TOTAL NEWMONT
WORLDWIDE 340,500 0.12 % 790
705,200 0.13 % 1,880 1,045,700
0.13 % 2,670 69 % 962,700
0.13 % 2,490 (1) See
footnote (1) to the Gold Reserves table above. Copper reserves for
2017 and 2016 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 credits.
(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. 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, 2017
December 31, 2016
Proven Reserves Probable Reserves
Proven + Probable Reserves Proven + Probable Reserve
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 % 51,100 0.21 % 100,000 306,900 0.16 % 500,000 358,000 0.17 %
600,000 60 % 358,700 0.16 % 572,460
TOTAL NORTH AMERICA
51,100 0.21 % 100,000 306,900
0.16 % 500,000 358,000 0.17
% 600,000 60 % 358,700
0.16 % 572,460 Australia Boddington
Open Pit, Western Australia 100 % 243,900 0.10 % 240,000 252,000
0.11 % 290,000 495,900 0.11 % 530,000 79 % 424,200 0.11 % 480,430
Boddington Stockpiles, Western Australia(6) 100 % 14,000 0.09 %
10,000 80,900 0.08 % 70,000 94,900 0.09 % 80,000 73 % 90,400 0.09 %
77,180
TOTAL AUSTRALIA 257,900 0.10 %
250,000 332,900 0.11 % 360,000
590,800 0.10 % 610,000 78
% 514,600 0.11 % 557,610
TOTAL NEWMONT WORLDWIDE 309,000 0.12 %
350,000 639,800 0.13 % 860,000
948,800 0.13 % 1,210,000 69
% 873,300 0.13 % 1,130,070
See Footnotes under Copper Reserves U.S. units table.
Attributable Copper Mineral
Resources(1)(2), U.S. Units
December 31, 2017
Measured Resources
Indicated Resources
Measured + Indicated Resources
Inferred Resources 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 % 16,300 0.15 % 50 272,900
0.12 % 680 289,200 0.13 % 730 68,500 0.14 % 190
TOTAL NORTH
AMERICA 16,300 0.15 % 50
272,900 0.12 % 680 289,200
0.13 % 730 68,500 0.14 %
190 South America Conga, Peru 54.05 % — 0.00 % —
413,300 0.26 % 2,150 413,300 0.26 % 2,150 137,400 0.19 % 510
Yanacocha, Peru 54.05 % — 0.00 % — 61,300 0.64 % 780 61,300 0.64 %
780 3,000 0.35 % 30
TOTAL SOUTH AMERICA —
0.00
% —
474,600 0.31 % 2,930
474,600 0.31 % 2,930 140,400
0.19 % 540 Australia Boddington,
Western Australia 100 % 82,400 0.11 % 170 219,200 0.12 % 520
301,600 0.11 % 690 7,400 0.10 % 10
TOTAL AUSTRALIA
82,400 0.11 % 170 219,200
0.12 % 520 301,600 0.11 %
690 7,400 0.10 % 10 TOTAL
NEWMONT WORLDWIDE 98,700 0.11 % 220
966,700 0.21 % 4,130 1,065,400
0.20 % 4,350 216,300 0.17
% 740 (1) Resources are reported
exclusive of reserves. Measured and Indicated Resources (combined)
are equivalent to Mineralized Material disclosed in Newmont’s Form
10-K filing. (2) Resources are calculated at a copper price of
$3.25 or A$4.00 per pound for 2017 and at a copper price of $3.00
or A$3.75 per pound for 2016 unless otherwise noted. 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), Metric Units
December 31, 2017
Measured Resources Indicated Resources
Measured + Indicated Resources Inferred
Resources 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 % 14,800 0.15 % 20,000 247,500 0.12 % 310,000
262,300 0.13 % 330,000 62,200 0.14 % 80,000
TOTAL NORTH
AMERICA 14,800 0.15 % 20,000
247,500 0.12 % 310,000 262,300
0.13 % 330,000 62,200 0.14
% 80,000 South America Conga, Peru 54.05 % —
0.00 % — 375,000 0.26 % 980,000 375,000 0.26 % 980,000 124,600 0.19
% 240,000 Yanacocha, Peru 54.05 % — 0.00 % — 55,600 0.64 % 350,000
55,600 0.64 % 350,000 2,700 0.35 % 10,000
TOTAL SOUTH
AMERICA —
0.00 % —
430,600 0.31
% 1,330,000 430,600 0.31 %
1,330,000 127,300 0.19 % 250,000
Australia Boddington, Western Australia 100 % 74,700 0.11 %
80,000 198,800 0.12 % 240,000 273,500 0.11 % 320,000 6,600 0.10 % —
TOTAL AUSTRALIA 74,700 0.11 %
80,000 198,800 0.12 % 240,000
273,500 0.11 % 320,000 6,600
0.10 % —
TOTAL NEWMONT WORLDWIDE 89,500
0.11 % 100,000 876,900 0.21
% 1,880,000 966,400 0.20 %
1,980,000 196,100 0.17 % 330,000
See Footnotes under Copper Resources U.S. units table.
Attributable Proven, Probable, and
Combined Silver Reserves(1), U.S. Units
December 31, 2017
December 31, 2016
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 by Reporting Unit 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 % 6,200 0.32 1,960 243,700 0.24
58,920 249,900 0.24 60,880 38 % 256,600 0.24 60,910
TOTAL NORTH
AMERICA 6,200 0.32 1,960 243,700
0.24 58,920 249,900 0.24 60,880
38 % 256,600 0.24 60,910
South America Yanacocha Open Pits 54.05 % 12,500 0.23 2,860
24,100 0.20 4,730 36,600 0.21 7,590 12 % 46,900 0.21 10,030
Yanacocha Leach Pad(4)
54.05 % — - - 55,000 0.25 13,570 55,000 0.25 13,570 6 % 50,500 0.25
12,390
Yanacocha Stockpiles(5)
54.05 % 5,100 1.13 5,840 — — — 5,100 1.13 5,840 6 % 5,500 1.10
5,990
TOTAL SOUTH AMERICA(6)
17,600 0.49 8,700 79,100 0.23
18,300 96,700 0.28 27,000 8
% 102,900 0.28 28,410 TOTAL NEWMONT
WORLDWIDE 23,800 0.45 10,660
322,800 0.24 77,220 346,600 0.25
87,880 24 % 359,500 0.25
89,320 (1) See footnote (1) to the Gold
Reserves table above. Silver reserves for 2017 were calculated at a
silver price of $16. Silver reserves for 2016 were calculated at a
silver price of $17. (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) 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. (5) 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. (6) See footnote (22) to the Gold Reserves table above.
Attributable Proven, Probable, and
Combined Silver Reserves(1), Metric
Units
December 31, 2017
December 31, 2016 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 by Reporting Unit 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 % 5,600 10.9 1,960
221,000 8.3 58,920 226,600 8.4 60,880 38 % 232,800 8.1 60,910
TOTAL NORTH AMERICA 5,600 10.9 1,960
221,000 8.3 58,920 226,600 8.4
60,880 38 % 232,800 8.1
60,910 South America Yanacocha Open Pits, Peru 54.05
% 11,200 7.9 2,860 21,800 6.8 4,730 33,000 7.1 7,590 12 % 42,500
7.3 10,030
Yanacocha Leach Pad, Peru(4)
54.05 % — — — 49,800 8.5 13,570 49,800 8.5 13,570 6 % 45,800 8.4
12,390
Yanacocha Stockpiles, Peru(5)
54.05 % 4,700 38.9 5,840 — — — 4,700 38.9 5,840 6 % 5,000 37.6
5,990
TOTAL SOUTH AMERICA(6)
15,900 16.9 8,700 71,600 8.0
18,300 87,500 9.6 27,000 8
% 93,300 9.5 28,410 TOTAL NEWMONT
WORLDWIDE 21,500 15.4 10,660
292,600 8.2 77,220 314,100 8.7
87,880 24 % 326,100 8.5
89,320
See Footnotes under Silver Reserves U.S. units table.
Attributable Silver Mineral
Resources(1)(2), U.S. Units
December 31, 2017
Measured Resources
Indicated Resources Measured + Indicated Resources
Inferred Resources Newmont Tonnage
Grade Ag Tonnage Grade Ag
Tonnage Grade Ag Tonnage
Grade Ag 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 % 2,300 0.28 650 210,800
0.21 43,720 213,100 0.21 44,370 48,600 0.21 10,460
TOTAL NORTH
AMERICA 2,300 0.28 650 212,100
0.21 43,980 214,400 0.21 44,630
49,700 0.21 10,600 South America Conga,
Peru 54.05 % — — — 413,300 0.06 24,810 413,300 0.06 24,810 104,300
0.03 3,420 Yanacocha, Peru 54.05 % 5,800 0.14 810 71,300 0.55
38,980 77,100 0.52 39,790 4,500 0.22 1,030
TOTAL SOUTH
AMERICA 5,800 0.14 810 484,600
0.13 63,790 490,400 0.13 64,600
108,800 0.04 4,450 TOTAL NEWMONT
WORLDWIDE 8,100 0.18 1,460 696,700
0.15 107,770 704,800 0.15
109,230 158,500 0.09 15,050 (1)
Resources are reported exclusive of reserves.
Measured and Indicated Resources (combined) are equivalent to
Mineralized Material disclosed in Newmont’s Form 10-K filing. (2)
Resource for 2017 and 2016 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), Metric Units
December 31, 2017
Measured Resources Indicated Resources
Measured + Indicated Resources Inferred
Resources Newmont Tonnage Grade Ag
Tonnage Grade Ag Tonnage
Grade Ag Tonnage Grade Ag
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 % 2,100 9.6 650 191,300 7.1
43,720 193,400 7.1 44,370 44,100 7.4 10,460
TOTAL NORTH
AMERICA 2,100 9.6 650 192,500
7.1 43,980 194,600 7.1 44,630
45,200 7.3 10,600 South America Conga,
Peru 54.05 % — — — 375,000 2.1 24,810 375,000 2.1 24,810 94,600 1.1
3,420 Yanacocha, Peru 54.05 % 5,300 4.8 810 64,600 18.8 38,980
69,900 17.7 39,790 4,200 7.7 1,030
TOTAL SOUTH AMERICA
5,300 4.8 810 439,600 4.5
63,790 444,900 4.5 64,600 98,800
1.4 4,450 TOTAL NEWMONT WORLDWIDE 7,400
6.2 1,460 632,100 5.3 107,770
639,500 5.3 109,230 144,000 3.3
15,050
See Footnotes under Silver Resources U.S. units table.
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 Newmont’s 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 Newmont’s
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
Canada’s NI 43-101 and Australia’s 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 Company’s Annual Report for the “Proven and
Probable Reserve” and “Mineralized Material” tables prepared in
compliance with the SEC’s 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, 2017 and were presented on an attributable basis reflecting the
Company’s 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 Company’s Form 10-K, filed on February 22, 2018,
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180221005358/en/
Newmont Mining CorporationInvestor ContactJessica
Largent303.837.5484jessica.largent@newmont.comorMedia ContactOmar
Jabara303.837.5114omar.jabara@newmont.com
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