|
APPLICABLE TO
SALES TO TOTAL CASH COST PER OUNCE
Total cash costs per ounce or per pound
are non-GAAP performance measures that are intended to provide
investors with information about the cash-generating capacities
and profitability of Newmont’s mining operations. Newmont’s
management uses these measures for the same purpose and for
monitoring the performance of its mining operations. These
measures differ from measures determined in accordance with
GAAP and should not be considered in isolation or as a substitute
for measures of performance or liquidity determined in accordance
with GAAP. These measures were developed in conjunction with
gold mining companies associated with the Gold Institute in
an effort to provide a level of comparability; however, Newmont’s
measures may not be comparable to similarly titled measures
of other companies.
| (dollars
in millions except per ounce amounts) |
Year Ended December 31, 2004 |
 |
| Nevada |
Yanacocha |
Australia/New Zealand |
Batu Hijau |
Total Gold |
|
| Costs applicable to sales under GAAP |
$ 716.3 |
$ 432.6 |
$ 528.5 |
$ 91.2 |
$ 1,935.9 |
| |
Minority interest |
— |
(218.8) |
— |
(42.1) |
(262.1) |
| Reclamation/accretion expense |
(5.6) |
(3.1) |
(5.3) |
(0.5) |
(16.9) |
| Write-down of inventories |
— |
— |
(9.5) |
— |
(13.1) |
| Purchased ore and other |
(38.4) |
(0.1) |
— |
2.1 |
(37.4) |
|
| Total cash costs for per ounce calculations
|
672.3 |
210.6 |
513.7 |
50.7 |
1,606.4 |
|
| Equity ounces sold (000)(1) |
2,416.0 |
1,561.0 |
1,887.6 |
396.3 |
6,969.1 |
| Equity cash costs per ounce sold |
$ 278 |
$ 135 |
$ 272 |
$ 128 |
$ 231 |
|
Year Ended December 31, |
|
| 2003 |
|
2002 |
|
|
|
|
| (dollars in millions except per ounce
amounts) |
Nevada |
Yanacocha |
Australia/New Zealand |
Total Gold |
|
Total Gold |
|
|
|
| Costs applicable to sales under GAAP |
$ 597.8 |
$ 362.5 |
$ 483.8 |
$1,655.8 |
|
$ 1,580.5 |
| |
Minority interest |
— |
(183.5) |
(4.5) |
(192.2) |
(173.0) |
| Reclamation/accretion expense |
0.1 |
(3.4) |
(4.0) |
(13.1) |
(25.4) |
| Write-down of inventories |
(2.9) |
— |
(8.6) |
(12.9) |
(44.0) |
| Purchased ore and other |
(32.1) |
— |
— |
(33.7) |
(22.8) |
|
|
| Total cash costs for per ounce calculations
|
562.9 |
175.6 |
466.7 |
1,403.9 |
1,315.3 |
|
|
| Equity ounces sold (000)(2) |
2,490.8 |
1,467.9 |
1,998.1 |
7,005.6 |
6,971.4 |
| Equity cash costs per ounce sold |
$ 235 |
$ 120 |
$ 234 |
$ 203 |
$ 189 |
| (1) |
Excludes 19.3 ounces from Golden Grove. |
| (2) |
Excludes 364.6 ounces from equity investments in Batu
Hijau, TVX Newmont Americas and Echo Bay Mines Limited,
13.4 ounces from Golden Grove, and includes 94.3 ounces
sold from purchased concentrates, excluded for per ounce
calculations in 2003. Excludes 646.7 ounces from equity
investments in Batu Hijau, TVX Newmont Americas |
|
|
