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NEWMONT MINING REPORTS THIRD QUARTER INCOME

 NEWMONT MINING REPORTS THIRD QUARTER INCOME
 DENVER, Oct. 28 /PRNewswire/ -- Newmont Mining Corp. (NYSE: NEM), a


leading gold company, today reported third quarter 1992 net income of $18.3 million, or 27 cents a share, compared to $12.2 million, or 18 cents a share, in the third quarter of 1991.
 Production of gold by its 90.1-percent-owned subsidiary, Newmont Gold Co. (NYSE: NGC) increased from 383,600 ounces in the third quarter last year to 412,700 ounces in the like quarter this year. Cash costs were marginally higher at $203 an ounce compared to $198 an ounce in the third quarter of 1991.
 Consolidated sales were $155.8 million in the third quarter of 1992 compared to $148.4 million in the third quarter of 1991. The average consolidated sales price received for gold, including all hedging activities, was reduced to $369 per ounce compared to $383 in the like quarter of 1991.
 The increase in profits for the quarter arose principally from a lower tax charge following a downward revision of the effective tax rate for the year.
 For the first nine months of 1992, Newmont Mining's net income was $75.0 million, or $1.10 a share, compared with $71.6 million, or $1.06 a share, in the first three quarters of 1991.
 Newmont Mining is a pure gold company which, in addition to its 90.1 percent holding in Newmont Gold, owns 100 percent of Newmont Exploration Ltd., and several advanced gold properties in development worldwide.
 NEWMONT MINING CORP.
 Summary of Consolidated Income
 (unaudited - in thousands, except per share)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Consolidated sales $155,828 $148,374 $472,286 $466,919
 Income before cumulative
 effect of change in
 accounting principle $18,279 $12,165 $86,612 $71,584
 Cumulative effect of
 change in accounting
 principle(a) --- --- (11,572) ---
 Net income $18,279 $12,165 $75,040 $71,584
 Income per share:
 Before cumulative
 effect of change
 in accounting
 principle $0.27 $0.18 $1.27 $1.06
 Cumulative effect
 of change in
 accounting
 principle(a) --- --- (0.17) ---
 Net income $0.27 $0.18 $1.10 $1.06
 Average number of
 shares outstanding 68,186 67,751 68,066 67,728
 (a) Non-cash, net charge after income tax benefit of $5,962, or
 9 cents per share, due to Newmont's election to adopt, a year
 prior to when required, Statement of Financial Accounting
 Standards No. 106, which requires that postretirement employee
 benefits, other than pensions, be accounted for on an accrual
 basis.
 -0- 10/28/92
 /CONTACT: James F. Hill of Newmont Mining, 303-837-5977/
 (NEM NGC) CO: Newmont Mining Corp. ST: Colorado IN: MNG SU: ERN


MC -- DV002 -- 6001 10/28/92 12:31 EST
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Date:Oct 28, 1992
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