Name and Location
Akyem gold project, Ghana.

Project Description
The project, located in the Birim North district of the eastern region of Ghana, contains estimated gold reserves of 7.2-million ounces.

Based on the current reserve estimates, the project proposes to process around 8.8-million tons of ore a year on average to ultimately extract 7.7-million ounces of gold over a projected 15-year life-of-mine. This will involve mining a total of 116-million metric tons of ore and 396-million metric tons of waste rock.

The development of the project will involve the excavation of an openpit mine and the construction of waste rock disposal units, a tailings storage facility, an ore processing plant, a water storage facility and a water transmission pipeline, sediment control structures and diversion channels, haul and access roads, as well as support facilities.

As proposed, a portion of the waste rock in the disposal facilities will be deposited in the openpits during the closure and decommissioning phase of the project.

Value
The capital expenditure required at the project is estimated at between $700-million and $1-billion.

Duration
First production from the project is scheduled for late 2013 or early 2014.

Client
Newmont Mining Corporation, through its subsidiary Newmont Golden Ridge.

Key Contracts and Suppliers
None stated.

Latest Developments
In the first quarter of 2011, the Newmont Mining board of directors approved the funding to develop the project. The board cleared the project through a fourth-stage gate in Newmont’s four-gate project review process, which roughly equated to bankable feasibility study approval.

Akyem is expected to produce between 400 000 oz/y and 500 000 oz/y in the first five years of operations.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Newmont Mining Corporation, tel +233 21 701 1852 or email ghana.communications2@newmont.com.