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, 2008 | |||
| Earnings: |
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| Income from continuing operations before income tax expense (1) (2) |
$ | 1,318 | |
| Adjustments: |
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| Fixed charges added to earnings |
82 | ||
| Dividends from equity affiliates |
— | ||
| Amortization of capitalized interest |
13 | ||
| $ | 1,413 | ||
| Fixed Charges: |
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| Net interest expense (3) |
73 | ||
| Portion of rental expense representative of interest |
9 | ||
| Fixed charges added to earnings |
82 | ||
| Capitalized interest |
37 | ||
| $ | 119 | ||
| Ratio of earnings to fixed charges |
11.9 | ||
| (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. |