Exhibit 12.1
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions except ratio)
| Nine Months Ended September 30, 2006 | |||
| Earnings: |
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| Income from continuing operations before income tax expense (1) |
$ | 1,265 | |
| Adjustments: |
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| Fixed charges added to earnings |
74 | ||
| Dividends from equity affiliates |
–– | ||
| Amortization of capitalized interest |
9 | ||
| $ | 1,348 | ||
| Fixed Charges: |
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| Net interest expense (2) |
70 | ||
| Portion of rental expense representative of interest |
4 | ||
| Fixed charges added to earnings |
74 | ||
| Capitalized interest |
46 | ||
| $ | 120 | ||
| Ratio of earnings to fixed charges |
11.2 | ||
| (1) | Income from continuing operations before income tax expense, minority interest and equity income of affiliates. |
| (2) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |