Newmont Mining Corp. (NYSE: NEM) (Newmont or the Company) reported gold reserves of 68.5 million ounces for 2016 compared to 71.1 million ounces for 2015.
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The Company added 4.1 million ounces of gold reserves through exploration. Notable additions for the year include 1.4 million ounces at Tanami, 0.6 million ounces at Merian, 0.4 million ounces at Carlin underground and 0.4 million ounces at KCGM (Newmont’s 50 percent share). Overall gold reserve grades rose from the prior year to 1.20 grams per tonne.
The Company added 6.1 million ounces of gold resource1 through exploration, including 2.0 million ounces of gold at Yanacocha and significant additions at higher grade underground mines including at Ahafo, Carlin and Tanami. Resource grades rose from the prior year to 0.86 grams per tonne.
Unless otherwise noted, all figures exclude PTNNT. The sale of Newmont’s 48.5 percent stake in PTNNT, which operates the Batu Hijau mine in Indonesia, closed on November 2, 2016.
Newmont reported 4.9 million ounces of attributable mine production in 2016, resulting in 6.0 million ounces of reserve depletion. Other changes to gold reserves include a reduction of 0.6 million ounces due to price change, primarily related to the impact of lower assumed copper reserve pricing at Phoenix. Reserve revisions were modest and mostly offsetting.
Newmont reported 33.6 million ounces of attributable Measured and Indicated gold resources and 14.0 million ounces attributable Inferred gold resources in 2016. Total attributable gold resources increased by 5.7 million ounces or nearly 14 percent from the prior year. The Company added 6.1 million ounces through exploration, partially offset by conversions of 4.1 million ounces.
Exploration Outlook
Newmont’s total exploration expenditure is expected to increase to more than $200 million2 in 2017, with about 80 percent allocated to near-mine and brownfields and the balance allocated to greenfields programs. Geographically, the Company expects to spend about 38 percent of this amount in North America, 35 percent in South America and the remainder in Australia, Africa and other locations.
_________________
1
Resources include measured, indicated and inferred resources; totals may not add up due to rounding. See cautionary statement at end of release regarding reserves and resources.
2
Includes capitalized and expensed exploration
Gold Reserve Sensitivity
A $100 increase in gold price would result in an approximate 4 percent increase in gold reserves while a $100 decrease in gold price would result in an approximate 6 percent decrease in gold reserves. These sensitivities assume an oil price of $55 per barrel (WTI) and an Australian dollar exchange rate of $0.75.
For additional details on Newmont’s reported Gold, Copper and Silver Mineral Reserves and Resources, please refer to the tables at the end of this release.
Key Assumptions:
Years Ended December 31,
2016
2015
Gold Reserves (US$/oz)
$1,200
$1,200
Gold Resources (US$/oz)
$1,400
$1,400
Copper Reserves (US$/lb)
$2.50
$2.75
Copper Resources (US$/lb)
$3.00
$3.50
Australian Dollar (A$:US$)
$0.75
$0.80
West Texas Intermediate (US$/bbl)
$55
$75
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 2017, 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 2017.
Attributable Proven, Probable, and Combined Gold Reserves(1), U.S. Units
December 31, 2016
December 31, 2015
Proven Reserves
Probable Reserves
Proven and Probable Reserves
Metallurgical Recovery(3)
Proven + Probable Reserves
Deposits/Districts by Reporting Unit
Newmont
Tonnage(2)
Grade
Gold(3)
Tonnage(2)
Grade
Gold(3)
Tonnage(2)
Grade
Gold(3)
Tonnage(2)
Grade
Gold(3)
Share(23)
(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 Open Pits (4)
100
%
67,900
0.058
3,960
187,400
0.024
4,540
255,300
0.033
8,500
63
%
258,300
0.036
9,350
Carlin Stockpiles (5)
100
%
21,200
0.063
1,330
-
-
-
21,200
0.063
1,330
81
%
22,800
0.059
1,330
Carlin Underground (6)
100
%
12,000
0.299
3,580
6,600
0.240
1,590
18,600
0.278
5,170
85
%
23,000
0.266
6,100
Total Carlin, Nevada
101,100
0.088
8,870
194,000
0.032
6,130
295,100
0.051
15,000
72
%
304,100
0.055
16,780
Phoenix (7)
100
%
4,800
0.025
120
251,800
0.017
4,220
256,600
0.017
4,340
76
%
291,500
0.017
5,100
Lone Tree (8)
100
%
2,600
0.007
20
1,200
0.020
20
3,800
0.011
40
57
%
3,700
0.007
30
Total Phoenix, Nevada
7,400
0.019
140
253,000
0.017
4,240
260,400
0.017
4,380
76
%
295,200
0.017
5,130
Turquoise Ridge (9)
25
%
1,500
0.453
710
1,400
0.458
630
2,900
0.455
1,340
92
%
3,100
0.446
1,400
Twin Creeks (10)
100
%
3,700
0.046
180
26,200
0.054
1,410
29,900
0.053
1,590
77
%
32,100
0.054
1,740
Twin Creeks Stockpiles (5)
100
%
32,000
0.063
2,000
-
-
-
32,000
0.063
2,000
74
%
35,600
0.064
2,280
Total Twin Creeks, Nevada
37,200
0.078
2,890
27,600
0.074
2,040
64,800
0.076
4,930
80
%
70,800
0.077
5,420
Long Canyon, Nevada (11)
100
%
-
-
-
19,200
0.061
1,170
19,200
0.061
1,170
76
%
18,000
0.067
1,200
CC&V (12)
100
%
72,500
0.022
1,560
17,900
0.017
310
90,400
0.021
1,870
62
%
100,800
0.024
2,440
CC&V Leach Pad (13)
100
%
-
-
-
48,500
0.025
1,210
48,500
0.025
1,210
57
%
46,000
0.025
1,160
CC&V Stockpiles (5)
100
%
2,800
0.112
310
-
-
-
2,800
0.112
310
70
%
2,700
0.084
230
Total CC&V, Colorado
75,300
0.025
1,870
66,400
0.023
1,520
141,700
0.024
3,390
61
%
149,500
0.026
3,830
TOTAL NORTH AMERICA
221,000
0.062
13,770
560,200
0.027
15,100
781,200
0.037
28,870
73
%
837,600
0.039
32,360
South America
Yanacocha Open Pits (14)
51.35
%
17,900
0.018
310
81,400
0.018
1,500
99,300
0.018
1,810
69
%
113,200
0.017
1,940
Yanacocha Leach Pad (13)
51.35
%
8,600
0.020
170
-
-
-
8,600
0.020
170
67
%
12,600
0.019
240
Yanacocha Stockpiles(5)
51.35
%
5,800
0.044
260
-
-
-
5,800
0.044
260
63
%
7,800
0.052
410
Total Yanacocha, Peru
32,300
0.023
740
81,400
0.018
1,500
113,700
0.020
2,240
69
%
133,600
0.019
2,590
Merian, Suriname (15)
75
%
-
-
-
116,800
0.037
4,290
116,800
0.037
4,290
93
%
110,600
0.035
3,840
TOTAL SOUTH AMERICA
32,300
0.023
740
198,200
0.029
5,790
230,500
0.028
6,530
85
%
244,200
0.026
6,430
Asia Pacific
Boddington Open Pit (16)
100
%
226,400
0.022
5,020
241,200
0.022
5,280
467,600
0.022
10,300
84
%
511,700
0.020
10,450
Boddington Stockpiles (5)
100
%
15,800
0.016
250
83,800
0.013
1,090
99,600
0.013
1,340
77
%
93,400
0.014
1,280
Total Boddington, Western Australia
242,200
0.022
5,270
325,000
0.020
6,370
567,200
0.021
11,640
83
%
605,100
0.019
11,730
Tanami, Northern Territory (17)
100
%
6,300
0.153
960
19,300
0.182
3,520
25,600
0.175
4,480
96
%
20,500
0.168
3,460
Kalgoorlie Open Pit and Underground (18)
50
%
9,800
0.060
580
30,400
0.064
1,950
40,200
0.063
2,530
84
%
45,200
0.059
2,650
Kalgoorlie Stockpiles (5)
50
%
70,100
0.023
1,610
-
-
-
70,100
0.023
1,610
76
%
66,000
0.023
1,500
Total Kalgoorlie, Western Australia
79,900
0.027
2,190
30,400
0.064
1,950
110,300
0.038
4,140
81
%
111,200
0.037
4,150
TOTAL ASIA PACIFIC
328,400
0.026
8,420
374,700
0.032
11,840
703,100
0.029
20,260
86
%
736,800
0.026
19,340
Africa
Ahafo South Open Pits (19)
100
%
13,900
0.066
920
50,600
0.051
2,580
64,500
0.054
3,500
90
%
72,800
0.054
3,950
Ahafo Underground (20)
100
%
-
-
-
11,700
0.131
1,530
11,700
0.131
1,530
94
%
9,300
0.143
1,330
Ahafo Stockpiles (5)
100
%
42,000
0.028
1,190
-
-
-
42,000
0.028
1,190
87
%
44,800
0.030
1,360
Total Ahafo South, Ghana
55,900
0.038
2,110
62,300
0.066
4,110
118,200
0.053
6,220
90
%
126,900
0.052
6,640
Ahafo North, Ghana (21)
100
%
-
-
-
47,900
0.069
3,330
47,900
0.069
3,330
91
%
36,900
0.071
2,620
Akyem Open Pit (22)
100
%
17,200
0.049
840
43,500
0.047
2,040
60,700
0.047
2,880
89
%
67,100
0.049
3,260
Akyem Stockpiles (5)
100
%
10,800
0.035
370
-
-
-
10,800
0.035
370
89
%
10,000
0.040
400
Total, Akyem, Ghana
28,000
0.043
1,210
43,500
0.047
2,040
71,500
0.045
3,250
89
%
77,100
0.048
3,660
TOTAL AFRICA
83,900
0.040
3,320
153,700
0.062
9,480
237,600
0.054
12,800
90
%
240,900
0.054
12,920
TOTAL NEWMONT CONTINUING OPERATIONS
665,600
0.039
26,250
1,286,800
0.033
42,210
1,952,400
0.035
68,460
81
%
2,059,500
0.035
71,050
Batu Hijau Open Pit (23)
48.5
%
-
-
-
-
-
-
-
-
-
0
%
134,500
0.015
2,030
Batu Hijau Stockpiles (5)(23)
48.5
%
-
-
-
-
-
-
-
-
-
0
%
184,800
0.003
640
TOTAL NEWMONT WORLDWIDE
665,600
0.039
26,250
1,286,800
0.033
42,210
1,952,400
0.035
68,460
81
%
2,378,800
0.031
73,720
(1)
See cautionary statement regarding reserves and resources at end of release hereof. 2016 reserves were calculated at a gold price of $1,200 or A$1,600 per ounce unless otherwise noted. 2015 reserves were calculated at a gold price of $1,200 or A$1,500 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 are rounded to the nearest 10,000.
(4)
Cut-off grades utilized in 2016 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 2016 reserves not less than 0.044 ounce per ton.
(7)
Gold cut-off grade varies with level of copper and silver credits.
(8)
Cut-off grade utilized in 2016 reserves not less than 0.006 ounce per ton.
(9)
Reserve estimates provided by Barrick, the operator of the Turquoise Ridge joint venture.
(10)
Cut-off grades utilized in 2016 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; and refractory mill material not less than 0.034 ounce per ton.
(11)
Cut-off grade utilized in 2016 reserves not less than 0.007 ounce per ton.
(12)
Cut-off grades utilized in 2016 reserves were as follows: oxide mill material not less than 0.050 ounce per ton and leach material not less than 0.005 ounce per ton.
(13)
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.
(14)
Cut-off grades utilized in 2016 reserves were as follows: oxide leach material not less than 0.003 ounce per ton; and oxide mill material not less than 0.013 ounce per ton.
(15)
Gold cut-off grades utilized in 2016 reserves not less than 0.011 ounce per ton.
(16)
Gold cut-off grade varies with level of copper credits.
(17)
Cut-off grade utilized in 2016 reserves not less than 0.070 ounce per ton.
(18)
Cut-off grade utilized in 2016 insitu reserves not less than 0.026 ounce per ton.
(19)
Cut-off grade utilized in 2016 reserves not less than 0.018 ounce per ton.
(20)
Project is partially developed with ongoing studies being completed prior to a full-development decision. Cut-off grade utilized in 2016 reserves not less than 0.090 ounce per ton.
(21)
Includes undeveloped reserves at six pits in the Ahafo trend totaling 3.3 million ounces. Cut-off grade utilized in 2016 reserves not less than 0.014 ounce per ton.
(22)
Cut-off grade utilized in 2016 reserves not less than 0.017 ounce per ton.
(23)
Newmont divested its interest in the Batu Hijau mine on November 2, 2016. As such, Newmont share percentage was zero as of December 31, 2016. The percentage figure above for Batu Hijau represent Newmont interest as of December 31, 2015 of 48.5%.
(24)
Newmont share percentage reflects Newmont’s economic interest as of December 31, 2016 (other than Batu Hijau; see note 23 above).
Attributable Proven, Probable, and Combined Gold Reserves(1), Metric Units
December 31, 2016
December 31, 2015
Proven Reserves
Probable Reserves
Proven and Probable Reserves
Metallurgical Recovery(3)
Proven + Probable Reserves
Deposits/Districts by Reporting Unit
Newmont
Tonnage(2)
Grade
Gold(3)
Tonnage(2)
Grade
Gold(3)
Tonnage(2)
Grade
Gold(3)
Tonnage(2)
Grade
Gold(3)
Share(23)
(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 Open Pits
100
%
61,600
2.00
3,960
170,000
0.83
4,540
231,600
1.14
8,500
63
%
234,300
1.24
9,350
Carlin Stockpiles (5)
100
%
19,200
2.14
1,330
-
-
-
19,200
2.14
1,330
81
%
20,700
2.01
1,330
Carlin Underground
100
%
10,900
10.25
3,580
6,000
8.24
1,590
16,900
9.53
5,170
85
%
20,800
9.10
6,100
Total Carlin, Nevada
91,700
3.01
8,870
176,000
1.08
6,130
267,700
1.74
15,000
72
%
275,800
1.89
16,780
Phoenix
100
%
4,400
0.86
120
228,400
0.57
4,220
232,800
0.58
4,340
76
%
262,600
0.60
5,060
Lone Tree
100
%
2,300
0.25
20
1,100
0.68
20
3,400
0.39
40
57
%
5,100
0.38
70
Total Phoenix, Nevada
6,700
0.65
140
229,500
0.57
4,240
236,200
0.58
4,380
76
%
267,700
0.60
5,130
Turquoise Ridge (9)
25
%
1,500
15.55
710
1,200
15.70
630
2,700
15.62
1,340
92
%
2,900
15.31
1,400
Twin Creeks
100
%
3,300
1.57
180
23,800
1.85
1,410
27,100
1.82
1,590
77
%
29,000
1.86
1,740
Twin Creeks Stockpiles (5)
100
%
29,000
2.15
2,000
-
-
-
29,000
2.15
2,000
74
%
32,300
2.19
2,280
Total Twin Creeks, Nevada
33,800
2.66
2,890
25,000
2.54
2,040
58,800
2.61
4,930
80
%
64,200
2.62
5,420
Long Canyon, Nevada
100
%
-
-
-
17,500
2.09
1,170
17,500
2.09
1,170
76
%
16,300
2.28
1,200
CC&V
100
%
65,700
0.74
1,560
16,300
0.58
310
82,000
0.71
1,870
62
%
91,500
0.83
2,440
CC&V Stockpiles (5)
100
%
2,500
3.83
310
-
-
-
2,500
3.83
310
70
%
2,500
2.88
230
CC&V Leach Pad (13)
100
%
-
-
-
44,000
0.86
1,210
44,000
0.86
1,210
57
%
41,700
0.86
1,160
Total CC&V, Colorado
68,200
0.85
1,870
60,300
0.78
1,520
128,500
0.82
3,390
61
%
135,700
0.88
3,830
TOTAL NORTH AMERICA
200,400
2.14
13,770
508,300
0.92
15,100
708,700
1.27
28,870
73
%
759,700
1.32
32,360
South America
Yanacocha Open Pits
51.35
%
16,200
0.60
310
73,800
0.63
1,500
90,000
0.63
1,810
69
%
102,700
0.59
1,940
Yanacocha Stockpiles (5)
51.35
%
5,300
1.52
260
-
-
-
5,300
1.52
260
63
%
7,100
1.79
410
Yanacocha Leach Pad (13)
51.35
%
7,800
0.68
170
-
-
-
7,800
0.68
170
67
%
11,400
0.66
240
Total Yanacocha, Peru
29,300
0.79
740
73,800
0.63
1,500
103,100
0.68
2,240
69
%
121,200
0.67
2,590
Merian, Suriname
75
%
-
-
-
106,000
1.26
4,290
106,000
1.26
4,290
93
%
100,300
1.19
3,840
TOTAL SOUTH AMERICA
29,300
0.79
740
179,800
1.00
5,790
209,100
0.97
6,530
85
%
221,500
0.90
6,430
Asia Pacific
Boddington Open Pit
100
%
205,400
0.76
5,020
218,800
0.75
5,280
424,200
0.76
10,300
84
%
464,300
0.70
10,450
Boddington Stockpiles (5)
100
%
14,400
0.55
250
76,000
0.44
1,090
90,400
0.46
1,340
77
%
84,800
0.47
1,280
Total Boddington, Western Australia
219,800
0.75
5,270
294,800
0.67
6,370
514,600
0.70
11,640
83
%
549,100
0.66
11,730
Tanami, Northern Territory
100
%
5,700
5.26
960
17,500
6.23
3,520
23,200
6.00
4,480
96
%
18,700
5.76
3,460
Kalgoorlie Open Pit and Underground
50
%
8,900
2.04
580
27,600
2.19
1,950
36,500
2.16
2,530
84
%
41,000
2.01
2,650
Kalgoorlie Stockpiles (5)
50
%
63,600
0.79
1,610
-
-
-
63,600
0.79
1,610
76
%
59,900
0.78
1,500
Total Kalgoorlie, Western Australia
72,500
0.94
2,190
27,600
2.19
1,950
100,100
1.29
4,140
81
%
100,900
1.28
4,150
TOTAL ASIA PACIFIC
298,000
0.88
8,420
339,900
1.08
11,840
637,900
0.99
20,260
86
%
668,700
0.90
19,340
Africa
Ahafo South Open Pits
100
%
12,600
2.25
920
45,900
1.75
2,580
58,500
1.86
3,500
90
%
66,100
1.86
3,950
Ahafo Underground
100
%
-
-
-
10,600
4.50
1,530
10,600
4.50
1,530
94
%
8,500
4.89
1,330
Ahafo Stockpiles (5)
100
%
38,100
0.97
1,190
-
-
-
38,100
0.97
1,190
87
%
40,600
1.04
1,360
Total Ahafo South, Ghana
50,700
1.29
2,110
56,500
2.27
4,110
107,200
1.80
6,220
90
%
115,200
1.79
6,640
Ahafo North, Ghana
100
%
-
-
-
43,500
2.38
3,330
43,500
2.38
3,330
91
%
33,500
2.44
2,620
Akyem Open Pit
100
%
15,600
1.68
840
39,400
1.61
2,040
55,000
1.63
2,880
89
%
60,800
1.67
3,260
Akyem Stockpiles (5)
100
%
9,800
1.19
370
-
-
-
9,800
1.19
370
89
%
9,100
1.39
400
Total, Akyem, Ghana
25,400
1.49
1,210
39,400
1.61
2,040
64,800
1.56
3,250
89
%
69,900
1.63
3,660
TOTAL AFRICA
76,100
1.36
3,320
139,400
2.12
9,480
215,500
1.85
12,800
90
%
218,600
1.84
12,920
TOTAL NEWMONT CONTINUING OPERATIONS
603,800
1.35
26,250
1,167,400
1.12
42,210
1,771,200
1.20
68,460
81
%
1,868,500
1.18
71,050
Batu Hijau Open Pit (23)
48.5
%
-
-
-
-
-
-
-
-
-
0
%
122,100
0.52
2,030
Batu Hijau Stockpiles (5)(23)
48.5
%
-
-
-
-
-
-
-
-
-
0
%
167,700
0.12
640
TOTAL NEWMONT WORLDWIDE
603,800
1.35
26,250
1,167,400
1.12
42,210
1,771,200
1.20
68,460
81
%
2,158,300
1.06
73,720
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, 2016, U.S. Units
Gold Measured Resource
Gold Indicated Resource
Gold Measured + Indicated Resource(3)
Gold Inferred Resource
Deposits/Districts
Newmont Share
Tonnage
Grade
Au
Tonnage
Grade
Au
Tonnage
Grade
Au
Tonnage
Grade
Au
(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
%
33,800
0.049
1,670
66,500
0.029
1,950
100,300
0.036
3,620
13,900
0.027
380
Carlin Trend Underground
100
%
900
0.201
180
2,300
0.231
540
3,200
0.223
720
3,300
0.235
780
Total Carlin, Nevada
34,700
0.053
1,850
68,800
0.036
2,490
103,500
0.042
4,340
17,200
0.067
1,160
Phoenix
100
%
700
0.015
10
177,400
0.014
2,410
178,100
0.014
2,420
58,500
0.012
680
Phoenix Stockpiles (4)
100
%
-
-
-
-
-
-
-
-
-
2,300
0.043
100
Lone Tree Complex
100
%
-
-
-
-
-
-
-
-
-
-
-
-
Buffalo Valley
70
%
-
-
-
15,500
0.019
290
15,500
0.019
290
400
0.011
-
Total Phoenix, Nevada
700
0.015
10
192,900
0.014
2,700
193,600
0.014
2,710
61,200
0.013
780
Twin Creeks
100
%
1,100
0.072
80
30,500
0.062
1,890
31,600
0.062
1,970
16,700
0.043
720
Twin Creeks Stockpiles (4)
100
%
7,700
0.059
460
-
-
-
7,700
0.059
460
-
-
-
Sandman
100
%
-
-
-
1,300
0.036
50
1,300
0.036
50
1,100
0.054
60
Turquoise Ridge (5)
25
%
900
0.479
420
500
0.435
220
1,400
0.463
640
500
0.487
230
Total Twin Creeks, Nevada
9,700
0.098
960
32,300
0.067
2,160
42,000
0.074
3,120
18,300
0.056
1,010
Long Canyon, Nevada
100
%
600
0.112
60
15,400
0.102
1,580
16,000
0.103
1,640
7,100
0.054
380
CC&V, Colorado
100
%
84,000
0.018
1,470
43,200
0.016
710
127,200
0.017
2,180
23,700
0.015
350
TOTAL NORTH AMERICA
129,700
0.034
4,350
352,600
0.027
9,640
482,300
0.029
13,990
127,500
0.029
3,680
South America
Conga, Peru
51.35
%
-
-
-
392,700
0.019
7,490
392,700
0.019
7,490
130,500
0.011
1,480
Yanacocha, Peru
51.35
%
6,300
0.013
80
64,800
0.025
1,620
71,100
0.024
1,700
99,000
0.030
3,000
Merian, Suriname
75
%
1,500
0.039
60
19,800
0.032
630
21,300
0.032
690
40,400
0.032
1,300
TOTAL SOUTH AMERICA
7,800
0.018
140
477,300
0.020
9,740
485,100
0.020
9,880
269,900
0.021
5,780
Asia Pacific
Boddington, Western Australia
100
%
119,700
0.014
1,690
270,700
0.015
4,140
390,400
0.015
5,830
8,300
0.017
140
Tanami, Northern Territory
100
%
-
0.039
-
2,800
0.161
460
2,800
0.161
460
3,500
0.171
610
Kalgoorlie, Western Australia
50
%
3,500
0.020
70
12,100
0.028
330
15,600
0.026
400
600
0.072
40
TOTAL ASIA PACIFIC
123,200
0.014
1,760
285,600
0.017
4,930
408,800
0.016
6,690
12,400
0.064
790
Africa
Ahafo
100
%
1,200
0.017
20
32,200
0.035
1,140
33,400
0.035
1,160
16,900
0.047
790
Ahafo Underground
100
%
-
-
-
8,600
0.124
1,070
8,600
0.124
1,070
13,900
0.114
1,580
Total Ahafo, Ghana
1,200
0.017
20
40,800
0.054
2,210
42,000
0.053
2,230
30,800
0.077
2,370
Ahafo North, Ghana
100
%
2,600
0.034
90
7,800
0.050
390
10,400
0.046
480
11,100
0.052
570
Akyem, Ghana
100
%
1,100
0.047
50
9,200
0.033
300
10,300
0.034
350
18,100
0.044
810
TOTAL AFRICA
4,900
0.032
160
57,800
0.050
2,900
62,700
0.049
3,060
60,000
0.062
3,750
TOTAL NEWMONT WORLDWIDE
265,600
0.024
6,410
1,173,300
0.023
27,210
1,438,900
0.023
33,620
469,800
0.030
14,000
(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 $1,400 or A$1,650 per ounce for 2015. Tonnage amounts have been rounded to the nearest 100,000, and ounces 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, the operator of the Turquoise Ridge Joint Venture.
Attributable Gold Mineral Resources(1)(2) - December 31, 2016, Metric units
Gold Measured Resource
Gold Indicated Resource
Gold Measured + Indicated Resource(3)
Gold Inferred Resource
Deposits/Districts
Newmont Share
Tonnage
Grade
Au
Tonnage
Grade
Au
Tonnage
Grade
Au
Tonnage
Grade
Au
(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
%
30,700
1.69
1,670
60,300
1.01
1,950
91,000
1.24
3,620
12,600
0.93
380
Carlin Trend Underground
100
%
800
6.90
180
2,100
7.93
540
2,900
7.64
720
3,000
8.05
780
Total Carlin, Nevada
31,500
1.82
1,850
62,400
1.24
2,490
93,900
1.44
4,340
15,600
2.29
1,160
Phoenix
100
%
700
0.52
10
160,900
0.47
2,410
161,600
0.47
2,420
53,000
0.39
680
Phoenix Stockpiles (4)
100
%
-
-
-
-
-
-
-
-
-
2,100
1.48
100
Lone Tree Complex
100
%
-
-
-
-
-
-
-
-
-
-
-
-
Buffalo Valley
70
%
-
-
-
14,100
0.65
290
14,100
0.65
290
400
0.38
-
Total Phoenix, Nevada
700
0.52
10
175,000
0.48
2,700
175,700
0.48
2,710
55,500
0.44
780
Twin Creeks
100
%
1,000
2.48
80
27,600
2.12
1,890
28,600
2.14
1,970
15,100
1.49
720
Twin Creeks Stockpiles (4)
100
%
7,000
2.02
460
-
-
-
7,000
2.02
460
-
-
-
Sandman
100
%
-
-
-
1,200
1.23
50
1,200
1.23
50
1,000
1.85
60
Turquoise Ridge (5)
25
%
800
16.43
420
500
14.90
220
1,300
15.86
640
400
16.68
230
Total Twin Creeks, Nevada
8,800
3.37
960
29,300
2.29
2,160
38,100
2.54
3,120
16,500
1.91
1,010
Long Canyon, Nevada
100
%
500
3.84
60
14,000
3.50
1,580
14,500
3.52
1,640
6,400
1.86
380
CC&V,Colorado
100
%
76,100
0.60
1,470
39,200
0.56
710
115,300
0.59
2,180
21,600
0.50
350
TOTAL NORTH AMERICA
117,600
1.15
4,350
319,900
0.94
9,640
437,500
0.99
13,990
115,600
0.99
3,680
South America
Conga, Peru
51.35
%
-
-
-
356,300
0.65
7,490
356,300
0.65
7,490
118,400
0.39
1,480
Yanacocha, Peru
51.35
%
5,700
0.45
80
58,800
0.86
1,620
64,500
0.82
1,700
89,800
1.04
3,000
Merian, Suriname
75
%
1,400
1.34
60
17,900
1.09
630
19,300
1.11
690
36,700
1.10
1,300
TOTAL SOUTH AMERICA
7,100
0.62
140
433,000
0.70
9,740
440,100
0.70
9,880
244,900
0.73
5,780
Asia Pacific
Boddington, Western Australia
100
%
108,700
0.48
1,690
245,500
0.53
4,140
354,200
0.51
5,830
7,500
0.58
140
Tanami, Northern Territory
100
%
-
1.32
-
2,600
5.53
460
2,600
5.53
460
3,200
5.85
610
Kalgoorlie, Western Australia
50
%
3,100
0.67
70
11,000
0.95
330
14,100
0.89
400
600
2.47
40
TOTAL ASIA PACIFIC
111,800
0.49
1,760
259,100
0.59
4,930
370,900
0.56
6,690
11,300
2.18
790
Africa
Ahafo
100
%
1,200
0.59
20
29,200
1.22
1,140
30,400
1.19
1,160
15,300
1.60
790
Ahafo Underground
100
%
-
-
-
7,800
4.26
1,070
7,800
4.26
1,070
12,600
3.90
1,580
Total Ahafo, Ghana
1,200
0.59
20
37,000
1.86
2,210
38,200
1.82
2,230
27,900
2.64
2,370
Ahafo North, Ghana
100
%
2,300
1.16
90
7,100
1.73
390
9,400
1.59
480
10,000
1.78
570
Akyem, Ghana
100
%
1,000
1.61
50
8,300
1.12
300
9,300
1.17
350
16,500
1.52
810
TOTAL AFRICA
4,500
1.11
160
52,400
1.72
2,900
56,900
1.68
3,060
54,400
2.14
3,750
TOTAL NEWMONT WORLDWIDE
241,000
0.83
6,410
1,064,400
0.80
27,210
1,305,400
0.80
33,620
426,200
1.02
14,000
See footnotes in Gold Resources U.S. units table.
Attributable Copper Reserves(1) U.S. Units
December 31, 2016
December 31, 2015
Proven Reserves
Probable Reserves
Proven + Probable Reserves
Proven + Probable Reserve
Deposits/Districts
Newmont Share
Tonnage(2)
Grade
Copper(3)
Tonnage(2)
Grade
Copper(3)
Tonnage(2)
Grade
Copper(3)
Metallurgical
Tonnage (2)
Grade
Copper (3)
(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
%
19,100
0.21
%
80
376,400
0.16
%
1,180
395,500
0.16
%
1,260
62
%
527,400
0.17
%
1,750
TOTAL NORTH AMERICA
19,100
0.21
%
80
376,400
0.16
%
1,180
395,500
0.16
%
1,260
62
%
527,400
0.17
%
1,750
Asia Pacific
Boddington Open Pit, Western Australia (5)
100
%
226,400
0.11
%
480
241,200
0.12
%
580
467,600
0.11
%
1,060
79
%
511,700
0.11
%
1,160
Boddington Stockpiles, Western Australia(6)
100
%
15,800
0.09
%
30
83,800
0.08
%
140
99,600
0.09
%
170
72
%
93,400
0.08
%
150
TOTAL ASIA PACIFIC
242,200
0.10
%
510
325,000
0.11
%
720
567,200
0.11
%
1,230
78
%
605,100
0.11
%
1,310
TOTAL NEWMONT CONTINUING OPERATIONS
261,300
0.11
%
590
701,400
0.14
%
1,900
962,700
0.13
%
2,490
70
%
1,132,500
0.14
%
3,060
Batu Hijau Open Pit, Indonesia(7)
48.5
%
-
0.00
%
-
-
0.00
%
-
-
0.00
%
-
0
%
134,500
0.50
%
1,340
Batu Hijau Stockpiles, Indonesia (6)(7)
48.5
%
-
0.00
%
-
-
0.00
%
-
-
0.00
%
-
0
%
184,800
0.34
%
1,270
TOTAL NEWMONT WORLDWIDE
261,300
0.11
%
590
701,400
0.14
%
1,900
962,700
0.13
%
2,490
70
%
1,451,800
0.20
%
5,670
(1)
See footnote (1) to the Gold Reserves table above. Copper reserves for 2016 were calculated at a copper price of $2.50 or A$3.35 per pound. Copper reserves for 2015 were calculated at a copper price of $2.75 or A$3.45 per pound unless otherwise noted.
(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 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.
(7)
Newmont divested its interest in the Batu Hijau mine on November 2, 2016. As such, Newmont share percentage was zero as of December 31, 2016. The percentage figure above for Batu Hijau represents Newmont interest as of December 31, 2015 of 48.5%.
Attributable Copper Reserves(1) Metric Units
December 31, 2016
December 31, 2015
Proven Reserves
Probable Reserves
Proven + Probable Reserves
Proven + Probable Reserve
Deposits/Districts
Newmont Share
Tonnage(2)
Grade
Copper(3)
Tonnage(2)
Grade
Copper(3)
Tonnage(2)
Grade
Copper(3)
Metallurgical
Tonnage(2)
Grade
Copper(3)
(x1000 tonnes)
(Cu%)
(Tonnes)
(x1000 tonnes)
(Cu%)
(Tonnes)
(x1000 tonnes)
(Cu%)
(Tonnes)
Recovery
(x1000 tonnes)
(Cu%)
(Tonnes)
North America
Phoenix, Nevada
100
%
17,200
0.21
%
36,980
341,500
0.16
%
535,480
358,700
0.16
%
572,460
62
%
478,400
0.17
%
796,480
TOTAL NORTH AMERICA
17,200
0.21
%
36,980
341,500
0.16
%
535,480
358,700
0.16
%
572,460
62
%
478,400
0.17
%
796,480
Asia Pacific
Boddington Open Pit, Western Australia
100
%
205,400
0.11
%
216,720
218,800
0.12
%
263,710
424,200
0.11
%
480,430
79
%
464,300
0.11
%
523,670
Boddington Stockpiles, Western Australia(6)
100
%
14,400
0.09
%
12,650
76,000
0.08
%
64,530
90,400
0.09
%
77,180
72
%
84,800
0.08
%
71,380
TOTAL ASIA PACIFIC
219,800
0.10
%
229,370
294,800
0.11
%
328,240
514,600
0.11
%
557,610
78
%
549,100
0.11
%
595,050
TOTAL NEWMONT CONTINUING OPERATIONS
237,000
0.11
%
266,350
636,300
0.14
%
863,720
873,300
0.13
%
1,130,070
70
%
1,027,500
0.14
%
1,391,530
Batu Hijau Open Pit, Indonesia (7)
48.5
%
-
0.00
%
-
-
0.00
%
-
-
0.00
%
-
0
%
122,100
0.50
%
606,500
Batu Hijau Stockpiles, Indonesia (6)(7)
48.5
%
-
0.00
%
-
-
0.00
%
-
-
0.00
%
-
0
%
167,700
0.34
%
576,300
TOTAL NEWMONT WORLDWIDE
237,000
0.11
%
266,350
636,300
0.14
%
863,720
873,300
0.13
%
1,130,070
70
%
1,317,300
0.20
%
2,574,330
See footnotes under Copper Reserves U.S. units table.
Attributable Copper Mineral Resources(1)(2) U.S. Units
December 31, 2016
Measured Resources
Indicated Resources
Measured + Indicated Resources
Inferred Resources
Deposits/Districts
Newmont Share
Tonnage
Grade
Copper
Tonnage
Grade
Copper
Tonnage
Grade
Copper
Tonnage
Grade
Copper
(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
%
700
0.10
%
-
256,300
0.13
%
670
257,000
0.13
%
670
87,100
0.14
%
250
TOTAL NORTH AMERICA
700
0.10
%
-
256,300
0.13
%
670
257,000
0.13
%
670
87,100
0.14
%
250
South America
Conga, Peru
51.35
%
-
0.00
%
-
392,700
0.26
%
2,040
392,700
0.26
%
2,040
130,500
0.19
%
480
Yanacocha, Peru
51.35
%
-
0.00
%
-
57,000
0.67
%
760
57,000
0.67
%
760
5,700
0.35
%
40
TOTAL SOUTH AMERICA
-
0.00
%
-
449,700
0.31
%
2,800
449,700
0.31
%
2,800
136,200
0.19
%
520
Asia Pacific
Boddington, Western Australia
100
%
119,700
0.09
%
220
270,700
0.11
%
590
390,400
0.10
%
810
8,300
0.10
%
20
TOTAL ASIA PACIFIC
119,700
0.09
%
220
270,700
0.11
%
590
390,400
0.10
%
810
8,300
0.10
%
20
TOTAL NEWMONT WORLDWIDE
120,400
0.09
%
220
976,700
0.21
%
4,060
1,097,100
0.19
%
4,280
231,600
0.17
%
790
(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 $3.00 or A$3.75 per pound for 2016 and at a copper price of $3.50 or A$4.15 per pound for 2015 unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000, and pounds have been rounded to the nearest 10 million.
Attributable Copper Mineral Resources(1)(2) Metric Units
December 31, 2016
Measured Resources
Indicated Resources
Measured + Indicated Resources
Inferred Resources
Deposits/Districts
Newmont Share
Tonnage
Grade
Copper
Tonnage
Grade
Copper
Tonnage
Grade
Copper
Tonnage
Grade
Copper
(x1000 tonnes)
(Cu%)
(tonnes)
(x1000 tonnes)
(Cu%)
(tonnes)
(x1000 tonnes)
(Cu%)
(tonnes)
(x1000 tonnes)
(Cu%)
(tonnes)
North America
Phoenix, Nevada
100
%
600
0.10
%
680
232,500
0.13
%
301,880
233,100
0.13
%
302,560
79,000
0.14
%
112,560
TOTAL NORTH AMERICA
600
0.10
%
680
232,500
0.13
%
301,880
233,100
0.13
%
302,560
79,000
0.14
%
112,560
South America
Conga, Peru
51.35
%
-
0.00
%
-
356,300
0.26
%
924,370
356,300
0.26
%
924,370
118,400
0.19
%
221,040
Yanacocha, Peru
51.35
%
-
0.00
%
-
51,700
0.67
%
344,000
51,700
0.67
%
344,000
5,200
0.35
%
18,130
TOTAL SOUTH AMERICA
-
0.00
%
-
408,000
0.31
%
1,268,370
408,000
0.31
%
1,268,370
123,600
0.19
%
239,170
Asia Pacific
Boddington, Western Australia
100
%
108,700
0.09
%
100,180
245,500
0.11
%
268,600
354,200
0.10
%
368,780
7,500
0.10
%
7,690
TOTAL ASIA PACIFIC
108,700
0.09
%
100,180
245,500
0.11
%
268,600
354,200
0.10
%
368,780
7,500
0.10
%
7,690
TOTAL NEWMONT WORLDWIDE
109,300
0.09
%
100,860
886,000
0.21
%
1,838,850
995,300
0.19
%
1,939,710
210,100
0.17
%
359,420
See footnotes under Copper Resources U.S. units table.
Attributable Proven, Probable, and Combined Silver Reserves(1) U.S. Units
December 31, 2016
December 31, 2015
Proven Reserves
Probable Reserves
Proven and Probable Reserves
Metallurgical Recovery (3)
Proven and Probable Reserves
Deposits/Districts by Reporting Unit
Newmont Share
Tonnage(2)
Grade
Silver(3)
Tonnage(2)
Grade
Silver(3)
Tonnage(2)
Grade
Silver(3)
Tonnage(2)
Grade
Silver(3)
(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
Phoenix, Nevada
100
%
4,800
0.29
1,390
251,800
0.24
59,520
256,600
0.24
60,910
38
%
289,500
0.25
73,510
TOTAL NORTH AMERICA
4,800
0.29
1,390
251,800
0.24
59,520
256,600
0.24
60,910
38
%
289,500
0.25
73,510
South America
Yanacocha Open Pits
51.35
%
17,900
0.21
3,680
29,000
0.22
6,350
46,900
0.21
10,030
16
%
63,800
0.20
12,480
Yanacocha Leach Pad (4)
51.35
%
-
-
-
50,500
0.25
12,390
50,500
0.25
12,390
6
%
45,000
0.24
10,600
Yanacocha Stockpiles (5)
51.35
%
5,500
1.10
5,990
-
-
-
5,500
1.10
5,990
20
%
7,800
0.99
7,720
TOTAL SOUTH AMERICA
23,400
0.41
9,670
79,500
0.24
18,740
102,900
0.28
28,410
12
%
116,600
0.26
30,800
TOTAL NEWMONT CONTINUING OPERATIONS
28,200
0.39
11,060
331,300
0.24
78,260
359,500
0.25
89,320
30
%
406,100
0.26
104,310
Batu Hijau Open Pit (6)
48.5
%
-
-
-
-
-
-
-
-
-
0
%
134,500
0.04
5,800
Batu Hijau Stockpiles (5)(6)
48.5
%
-
-
-
-
-
-
-
-
-
0
%
184,800
0.02
3,160
TOTAL NEWMONT WORLDWIDE
28,200
0.39
11,060
331,300
0.24
78,260
359,500
0.25
89,320
30
%
725,400
0.16
113,270
(1)
See footnote (1) to the Gold Reserves table above. Silver reserves for 2016 were calculated at a silver price of $17. Silver reserves for 2015 were calculated at a silver price of $19.
(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)
Newmont divested its interest in the Batu Hijau mine on November 2, 2016. As such, Newmont share percentage was zero as of December 31, 2016. The percentage figure above for Batu Hijau represent Newmont interest as of December 31, 2015 of 48.5%.
Attributable Proven, Probable, and Combined Silver Reserves(1) Metric Units
December 31, 2016
December 31, 2015
Proven Reserves
Probable Reserves
Proven and Probable Reserves
Metallurgical Recovery(3)
Proven and Probable Reserves
Deposits/Districts by Reporting Unit
Newmont Share
Tonnage(2)
Grade
Silver(3)
Tonnage(2)
Grade
Silver(3)
Tonnage(2)
Grade
Silver(3)
Tonnage(2)
Grade
Silver(3)
(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
Phoenix, Nevada
100
%
4,400
9.8
1,390
228,400
8.1
59,520
232,800
8.1
60,910
38
%
262,600
8.7
73,510
TOTAL NORTH AMERICA
4,400
9.8
1,390
228,400
8.1
59,520
232,800
8.1
60,910
38
%
262,600
8.7
73,510
South America
Yanacocha Open Pits, Peru
51.35
%
16,200
7.0
3,680
26,300
7.5
6,350
42,500
7.3
10,030
16
%
57,900
6.7
12,480
Yanacocha Leach Pad, Peru (4)
51.35
%
-
-
-
45,800
8.4
12,390
45,800
8.4
12,390
6
%
40,800
8.1
10,600
Yanacocha Stockpiles, Peru (5)
51.35
%
5,000
37.6
5,990
-
-
-
5,000
37.6
5,990
20
%
7,100
33.8
7,720
TOTAL SOUTH AMERICA
21,200
14.2
9,670
72,100
8.1
18,740
93,300
9.5
28,410
12
%
105,800
9.1
30,800
TOTAL NEWMONT CONTINUING OPERATIONS
25,600
13.4
11,060
300,500
8.1
78,260
326,100
8.5
89,320
30
%
368,400
8.8
104,310
Batu Hijau Open Pit, Indonesia (6)
48.5
%
-
-
-
-
-
-
-
-
-
0
%
122,100
1.5
5,800
Batu Hijau Stockpiles, Indonesia (5)(6)
48.5
%
-
-
-
-
-
-
-
-
-
0
%
167,700
0.6
3,160
TOTAL NEWMONT WORLDWIDE
25,600
13.4
11,060
300,500
8.1
78,260
326,100
8.5
89,320
30
%
658,200
5.4
113,270
See Footnotes under Silver Reserves U.S. units table.
Attributable Silver Mineral Resources(1)(2) U.S. Units
December 31, 2016
Measured Resources
Indicated Resources
Measured + Indicated Resources
Inferred Resources
Deposits/Districts
Newmont Share
Tonnage
Grade
Ag
Tonnage
Grade
Ag
Tonnage
Grade
Ag
Tonnage
Grade
Ag
(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
%
700
0.20
150
177,400
0.21
37,310
178,100
0.21
37,460
60,800
0.23
13,710
TOTAL NORTH AMERICA
700
0.20
150
178,700
0.21
37,570
179,400
0.21
37,720
61,900
0.22
13,850
South America
Conga, Peru
51.35
%
-
-
-
392,700
0.06
23,580
392,700
0.06
23,580
99,100
0.03
3,250
Yanacocha, Peru
51.35
%
6,300
0.16
1,020
57,500
0.58
33,170
63,800
0.54
34,190
3,300
0.34
1,140
TOTAL SOUTH AMERICA
6,300
0.16
1,020
450,200
0.13
56,750
456,500
0.13
57,770
102,400
0.04
4,390
TOTAL NEWMONT WORLDWIDE
7,000
0.17
1,170
628,900
0.15
94,320
635,900
0.15
95,490
164,300
0.11
18,240
(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 2016 was calculated at a silver price of $20 per ounce and at a silver price of $24 per ounce for 2015. Tonnage amounts have been rounded to the nearest 100,000.
Attributable Silver Mineral Resources(1)(2) Metric Units
December 31, 2016
Measured Resources
Indicated Resources
Measured + Indicated Resources
Inferred Resources
Deposits/Districts
Newmont Share
Tonnage
Grade
Ag
Tonnage
Grade
Ag
Tonnage
Grade
Ag
Tonnage
Grade
Ag
(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
%
700
6.9
150
160,900
7.2
37,310
161,600
7.2
37,460
55,100
7.7
13,710
TOTAL NORTH AMERICA
700
6.9
150
162,100
7.2
37,570
162,800
7.2
37,720
56,200
7.7
13,850
South America
Conga, Peru
51.35
%
-
-
-
356,300
2.1
23,580
356,300
2.1
23,580
89,900
1.1
3,250
Yanacocha, Peru
51.35
%
5,600
5.6
1,020
52,100
19.8
33,170
57,700
18.4
34,190
3,000
11.7
1,140
TOTAL SOUTH AMERICA
5,600
5.6
1,020
408,400
4.3
56,750
414,000
4.3
57,770
92,900
1.5
4,390
TOTAL NEWMONT WORLDWIDE
6,300
5.7
1,170
570,500
5.1
94,320
576,800
5.1
95,490
149,100
3.8
18,240
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.
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. 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 http://www.newmont.com/our-investors/financial-reporting/sec-filings and on www.sec.gov. Investors are reminded that the tables presented in the Annual Report are estimates as of December 31, 2016 and were presented on an attributable basis reflecting the Company’s ownership interest at such time.
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 or about February 21, 2017, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170221006620/en/
Contact
Newmont Mining Corporation Investor Contacts Meredith Bandy, 303-837-5143 meredith.bandy@newmont.com or Media Contacts Omar Jabara, 303-837-5114 omar.jabara@newmont.com