Newmont provides preliminary 2012 operating highlights and 2013 outlook
Wednesday, Jan 23, 2013

DENVER, Jan. 22, 2013 /CNW/ - Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") announced preliminary attributable gold and copper production and costs applicable to sales within the Company's 2012 outlook.

2012 and Fourth Quarter Preliminary Operating Highlights

--  Attributable gold and copper production of 5.0 million ounces and 143 million pounds, and 1.3 million ounces and 35 million pounds for 2012 and the fourth quarter, respectively;

--  Attributable gold and copper sales of 4.9 million ounces and 145 million pounds, and 1.2 million ounces and 42 million pounds for 2012 and the fourth quarter, respectively;

--  Average realized gold and copper price of approximately $1,661 per ounce and $3.43 per pound, and $1,700 per ounce and $3.22 per pound for 2012 and the fourth quarter, respectively;

--  Consolidated costs applicable to sales ("CAS") for gold and copper of between $670 and $680 per ounce and $2.30 and $2.40 per pound, and of $700 and $715 per ounce and $2.60 and $2.70 per pound, for 2012 and the fourth quarter, respectively;

--  First quarter gold price-linked dividend payable of $0.425 per share, subject to Board approval, a 21% increase over the prior year quarter;

--  Approximately $100 million in Other Expense for the fourth quarter, including $15 million in Hope Bay care and maintenance expense and;

--  G&A, Interest and Exploration expense were also within guidance, while Advanced Projects spending was approximately $100 million lower than original guidance.

In 2013, we will focus on mining fundamentals - from technical competency to safety and social responsibility - to lay the groundwork for profitable growth and more robust cash flow generation," said Gary Goldberg, President and COO.

Mr. Goldberg will become President and Chief Executive Officer for Newmont Mining Corporation, and join its Board of Directors on March 1, 2013.

"Our priority is to advance projects that deliver profitable production gains, including completing construction at Akyem and beginning production in late 2013, and advancing our stripping campaign at Batu Hijau to prepare for Phase 6 mining. We also intend to maintain our dividend policy as we complete our investment priorities in 2013," added Mr. Goldberg.

2013 Outlook

The Company also announced its outlook for 2013 production, costs and capital expenditures.

Attributable 2013 gold and copper production are expected to be approximately 4.8 to 5.1 million ounces and 150 to 170 million pounds, respectively, at costs applicable to sales of approximately $675 to $750 per ounce and $2.25 to $2.50 per pound, respectively. The Company also announced that it anticipates 2013 all-in sustaining costs to be between $1,100 and $1,200 per gold ounce of production (as defined on page 3). The Company currently expects to invest approximately $2.1 to $2.3 billion in attributable capital expenditures in 2013, of which approximately 40% is allocated to development capital, including at the Akyem project (~$250 million), Ahafo Mill Expansion (~$150 million) the Conga project (~$150 million), and other expansion projects in Nevada (~$260 million) and at La Herradura (~$40 million), with the remaining 60% expected to be spent on sustaining capital.

SOURCE Newmont Mining Corporation

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