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Africa – A Growing Business Region




Jeff Huspeni
Vice President, Exploration Business Development
Indaba Conference
February 6, 2007
Newmont’s History In Africa
Ahafo Mine

  • Project Completion        • Start-up and Commissioning
    – Scope, Schedule, Cost   • Operating Performance
  • Community Support         • First Gold – July 18, 2006
Susuan – New* Discovery From
Integrated Exploration




  *2005
Ahafo Growth

         30

         25
                                                       Year-End 2005
         20
Au Moz




                                               16.4 Moz Reserves(1) + NRM(2)
         15
                                                        12.2 Moz Reserves(1)
         10

         5
                                                             Production
         0
              1995     1997      1999   2001   2003   2005   2007    2009


              (1)At $400/oz Au
              (2)At $425/oz Au
Ghana’s Contribution To
Reserve Growth
                                     16
Reserve Additions by Region* (Moz)




                                                                                  • 32% of Reserve Additions
                                     14
                                                                                    Are From Ghana
                                     12
                                     10
                                      8
                                      6
                                      4
                                      2
                                      0
                                     -2
                                                   2002               2003         2004             2005

                                                 North America           South America       Indonesia
                                                 Australia               Ghana

                                          *Excludes acquired ounces
World Quality Assets


                                  All Known Gold Deposits
     100                       10
                          5M                        50
                                  Mo                   M
                            oz                             oz
                                     z
                   1M
                     oz
Grade (g/t)




              10

                                                                      Ahafo - 2005
                                           Ahafo - 2002

                              Akyem - 2002                              Akyem - 2005

               1
                   1                       10                   100                  1,000
                       Reserve and Non-Reserve Mineralized Material Tons (Mt)

               Source: Minerals Economics Group
Prospective Terrains –
A Common History




                                               Ahafo

                                           Akyem
                  Atla
                      n   tic
                                Oc
                                     ean
2006 Greenfields
Exploration Focus




*Exclusive of Opportunity Funds
African Business Development
Regional Framework Studies –
Focus On Prospectivity
 Data Compilation & Interpretation       Prospectivity Analysis




    Lansat
 Geophysics
 Geochemistry
        Geology
      Topography


• Goal : 85% Of Prospectivity In 10% Of The Terrain
Exploration Tool Box
Proprietary BLEG Technology
 Akyem BLEG Orientation Survey




                                       Bill Griffin: BLEG


 • Rapid reliable reconnaissance tool
 • Ultra-low gold detection and precision
 • Noteable discoveries: Batu Hijau, Minihasa, Ovacik, Perama Hill, Martabe
Exploration Toolbox
Airborne EM And Magnetics
                                                   Aeromagnetic Interpretation
                                                     • Detailed Lithologic and Structural model



                                   Cees Swager:
                                      Structural
                                        Geology



Resistivity Depth Slice At 50m:
   <6 ohm meters,
   >60 ohm meters
Depth of Investigation: 75m-200m




• Proprietary NEWTEM EM System
• Resistivity/conductivity depth slice mapping
• District reconnaissance tool
Exploration Toolbox
IP And Gravity
Jeremy Cook: Geophysics          Gravity Survey




                                 • Growing database
                                 • Integrated with district data portfolio

 Gradient Array Interpretation
Exploration Toolbox
Regolith Mapping & Geochemistry
                            Simon Bolster: Regolith




                            Nigel Radford: Geochemistry

 • Understanding regolith
   distribution + profile
 • Knowing which data to
   trust
 • Improved geochemical
   interpretation
Seeking Business Partnerships
•   Successful partnerships
•   Joint ventures
•   Private placements
•   Creative merchant banking
In Conclusion….

• Back in Africa, and glad to be here

• Built and operating Ahafo

• Optimizing Akyem

• Pleased with Africa’s contribution to global reserve growth

• Proprietary tools, specialists, and training for integrated
  exploration

• ~7 Moz annual equity reserve depletion – seeking business
  opportunities to help address this goal

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newmont mining Indaba_PP2_6_07_Final

  • 1. Africa – A Growing Business Region Jeff Huspeni Vice President, Exploration Business Development Indaba Conference February 6, 2007
  • 3. Ahafo Mine • Project Completion • Start-up and Commissioning – Scope, Schedule, Cost • Operating Performance • Community Support • First Gold – July 18, 2006
  • 4. Susuan – New* Discovery From Integrated Exploration *2005
  • 5. Ahafo Growth 30 25 Year-End 2005 20 Au Moz 16.4 Moz Reserves(1) + NRM(2) 15 12.2 Moz Reserves(1) 10 5 Production 0 1995 1997 1999 2001 2003 2005 2007 2009 (1)At $400/oz Au (2)At $425/oz Au
  • 6. Ghana’s Contribution To Reserve Growth 16 Reserve Additions by Region* (Moz) • 32% of Reserve Additions 14 Are From Ghana 12 10 8 6 4 2 0 -2 2002 2003 2004 2005 North America South America Indonesia Australia Ghana *Excludes acquired ounces
  • 7. World Quality Assets All Known Gold Deposits 100 10 5M 50 Mo M oz oz z 1M oz Grade (g/t) 10 Ahafo - 2005 Ahafo - 2002 Akyem - 2002 Akyem - 2005 1 1 10 100 1,000 Reserve and Non-Reserve Mineralized Material Tons (Mt) Source: Minerals Economics Group
  • 8. Prospective Terrains – A Common History Ahafo Akyem Atla n tic Oc ean
  • 11. Regional Framework Studies – Focus On Prospectivity Data Compilation & Interpretation Prospectivity Analysis Lansat Geophysics Geochemistry Geology Topography • Goal : 85% Of Prospectivity In 10% Of The Terrain
  • 12. Exploration Tool Box Proprietary BLEG Technology Akyem BLEG Orientation Survey Bill Griffin: BLEG • Rapid reliable reconnaissance tool • Ultra-low gold detection and precision • Noteable discoveries: Batu Hijau, Minihasa, Ovacik, Perama Hill, Martabe
  • 13. Exploration Toolbox Airborne EM And Magnetics Aeromagnetic Interpretation • Detailed Lithologic and Structural model Cees Swager: Structural Geology Resistivity Depth Slice At 50m: <6 ohm meters, >60 ohm meters Depth of Investigation: 75m-200m • Proprietary NEWTEM EM System • Resistivity/conductivity depth slice mapping • District reconnaissance tool
  • 14. Exploration Toolbox IP And Gravity Jeremy Cook: Geophysics Gravity Survey • Growing database • Integrated with district data portfolio Gradient Array Interpretation
  • 15. Exploration Toolbox Regolith Mapping & Geochemistry Simon Bolster: Regolith Nigel Radford: Geochemistry • Understanding regolith distribution + profile • Knowing which data to trust • Improved geochemical interpretation
  • 16. Seeking Business Partnerships • Successful partnerships • Joint ventures • Private placements • Creative merchant banking
  • 17. In Conclusion…. • Back in Africa, and glad to be here • Built and operating Ahafo • Optimizing Akyem • Pleased with Africa’s contribution to global reserve growth • Proprietary tools, specialists, and training for integrated exploration • ~7 Moz annual equity reserve depletion – seeking business opportunities to help address this goal