Newmont Board Approves Conga And Tanami Shaft Project  

DENVER, CO - Newmont Mining Corporation reported that its Board of Directors approved full funding for the Conga project in Peru and the Tanami Shaft project in Australia. Combined, the two projects are expected to add approximately 400,000 attributable ounces of gold and up to 100 million pounds of copper production per year once commercial operations commence in late 2014 to early 2015.

"We are pleased to announce full funds approval of the Conga and Tanami Shaft projects, representing a commitment to invest between $2.4 and $2.9 billion of capital. This substantial investment in our recently announced growth plan represents over 400 thousand ounces of incremental annual gold production and an additional 100 million pounds of annual copper production capacity between these two projects," said Richard O'Brien, President and Chief Executive Officer. "In addition to offering an operating cost profile of $400 to $450 per ounce, well below the industry average, Conga will provide a stable long term operating platform in Peru for several decades to come. Similarly, the Tanami Shaft project will increase gold production at our Tanami mine in Australia up to approximately 400 thousand ounces per annum and extend our operating platform in the region."

The company's address is 6363 South Fiddler's Green Circle, Greenwood Village, CO 80111, 303.837.5114, fax: 303.837.5085.