Newmont Board of Directors Approves Akyem Project
DENVER, July 27, 2005 – The Board of Directors of Newmont Mining Corporation (NYSE: NEM)
today announced plans to proceed with the development of the Akyem project, located in the
Eastern Region of Ghana. Newmont has an 85% interest in the Akyem project, which at yearend
2004 had 5.4 million equity ounces of reserves.
The estimated costs of development are approximately $500 million, with gold production
expected to commence in the second half of 2008. The project is expected to generate steadystate
annual consolidated gold sales of approximately 400,000 ounces.
In announcing the development decision, Newmont Chairman and Chief Executive Officer Wayne
W. Murdy said, "Our experience in Ghana has been very positive and we have made significant
progress on the Ahafo project. We look forward to a similar experience at Akyem, as we work
with the local communities and the government to build the second phase of Newmont's next
core operating district."
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This news release contains "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
that are intended to be covered by the safe harbor created by such sections. Such forward-looking
statements include, without limitation, (i) estimates of future development costs and capital expenditures;
(ii) estimates of future gold production and sales; and (iii) estimates regarding timing of future production
activities. Where the company expresses or implies an expectation or belief as to future events or results,
such expectation or belief is expressed in good faith and believed to have a reasonable basis. However,
forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual
results to differ materially from future results expressed, projected or implied by such forward-looking
statements. Such risks include, but are not limited to, gold and other metals price volatility, political and
operational risks in the countries in which we operate, and governmental regulation and judicial outcomes.
For a more detailed discussion of such risks and other factors, see the company's 2004 Annual Report on
Form 10-K, which is on file with the Securities and Exchange Commission, as well as the company's other
SEC filings. The company does not undertake any obligation to release publicly revisions to any "forwardlooking
statement," to reflect events or circumstances after the date of this news release, or to reflect the
occurrence of unanticipated events, except as may be required under applicable securities laws.