Newmont Mining Corporation

PT Newmont Nusa Tenggara (PTNNT) received the Upakarti Aditama national award for waste dump management performance from the Indonesian Department of Energy and Mineral Resources in December 2008. Upakarti Aditama is the highest DEMR award given to mining companies for environmental stewardship.

"During eight years of operation, PTNNT has received numerous awards for our environmental stewardship performance," said Malik Salim, senior manager of external relations. "It is evident from this recognition and appreciation that our mine's performance has continuously improved."

PTNNT has received this trophy and the Utama rating from the DEMR in the past few years.

Jakarta, Indonesia - An international arbitration panel reviewing the dispute pertaining to the divestiture of PT Newmont Nusa Tenggara's (PTNNT) shares delivered its ruling on March 31, 2009. The panel ruled that the Government of the Republic of Indonesia (Government) was not entitled to terminate PTNNT's Contract of Work (CoW), while also finding that PTNNT's foreign shareholders had not followed the divestiture process required in 2006 and 2007.

The panel granted PTNNT's foreign shareholders 180 days from the date of the decision to work with the Government to transfer the shares in PTNNT for 2006 and 2007 to the Government or its designee. The panel also confirmed that the Government has a right of first refusal with respect to the 2008 shares.

Newmont, as a foreign shareholder in PTNNT, together with Nusa Tenggara Mining Corporation, an affiliate of Sumitomo Corporation of Japan, is required under the CoW with the Government to sell down a portion of our interest in PTNNT to qualified Indonesian participants.

A dispute arose last year in relation to the process for divesting PTNNT's shares for 2006 (3 percent) and 2007 (7 percent). To resolve the dispute and clarify the path forward for divesting the shares in a fair and transparent manner, the Government and PTNNT submitted the matter to international arbitration, as provided for under the CoW.

"We are currently reviewing the decision and look forward to outlining a path forward with the Government to implement the arbitration panel's decision," said Richard O'Brien, president and chief executive officer. "We are committed to following the divestiture process as required under the CoW and clarified in the decision."

PT Newmont Nusa Tenggara (PTNNT) received the Department of Energy and Mineral Resources' Pandu Daya Masyarakat (PADMA) award for the System of Rice Intensification (SRI) agriculture development program. Awarded just every three years, the PADMA is given to pioneers of community development that focuses on sustainability and community participation. This is the second time PTNNT received this award.

Our operation was recognized for helping local farmers nearly double the yields of their rice crops through the SRI. The technique dramatically helps farmers move beyond subsistence farming to grow enough crops to sell and generate income for their families. SRI also minimizes the use of water, seeds and fertilizer, while encouraging the use of organic materials. PTNNT has carried out the SRI program since 2001 and more than 200 farmers have participated to date.

"We are grateful and proud of this achievement," said Malik Salim, PTNNT senior manager for external relations. "This achievement demonstrates one of PTNNT's values as leaders in social responsibility."