Empresa Minera Inti Raymi S.A (Inti Raymi) is a joint venture between Newmont (88 percent ownership) and Mrs. Beatriz Rocabado (12 percent ownership) and consists of two mines, Kori Kollo and Kori Chaca. The remaining mine deposit, Kori Chaca, is located on the Andes plains and is 3.1 miles (5 kilometers) west of the city of Oruro.

Collectively, Inti Raymi contributed 76,000 equity ounces of gold sales in 2007. It had 0.4 million equity ounces of gold in reserves and roughly 12 million tons of non-reserve mineralization as of the end of 2007.

Work force

Inti Raymi employs approximately 600 workers and 500 contractors primarily from the surrounding communities.

Community

Inti Raymi’s community development and sustainability program focuses on four major areas: infrastructure, health, education, and business development (including both agriculture and small business). The joint-venture launched Fondo de Desarrollo Inti Raymi, a foundation that has contributed nearly $20 million over 17 years to fund projects that contribute long-term benefits to the communities. Additionally, it helped build a Community Service Center that provides local residents with health services, small business training, Internet access, literacy training, and a place to seek grants and loans.

Most recently, Inti Raymi won the First International Prize for Social Management 2007-2008 for the operations’ outstanding activities and progress linked to the sustainable development of the mining sector in Latin America. Last year, it also received the First National Award for Corporate Social Responsibility through the National Chamber of Industries and the Center for the Promotion of Sustainable Technologies.

Environment

Mine crews transformed Inti Raymi’s former Kori Kollo open pit into a lake that provides habitat for wildlife, including ducks and other fowl. The mine uses fresh water from the Desaguadero River to fill the closed open pit; it commenced a proactive educational campaign to reach more than 5,000 locals and fishermen about the minimal effects of filling the lake with river water. We continue to monitor Kori Kollo Lake water chemistry, its physical attributes and water depth. We also recontoured the lake’s shore slopes and helped establish native plants.