Exhibit 12.1
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions except ratio)
| Six Months Ended June 30, 2008 | |||
| Earnings: |
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| Income from continuing operations before income tax expense(1)(2) |
$ | 1,106 | |
| Adjustments: |
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| Fixed charges added to earnings |
51 | ||
| Dividends from equity affiliates |
— | ||
| Amortization of capitalized interest |
9 | ||
| $ | 1,166 | ||
| Fixed Charges: |
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| Net interest expense(3) |
47 | ||
| Portion of rental expense representative of interest |
4 | ||
| Fixed charges added to earnings |
51 | ||
| Capitalized interest |
27 | ||
| $ | 78 | ||
| Ratio of earnings to fixed charges |
14.9 | ||
| (1) | Income from continuing operations before income tax expense, minority interest and equity loss of affiliates. |
| (2) | Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included in Income tax expense. |
| (3) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |