No, just Peru and the company is in big need of reserves as indicated by their results:

Newmont suffers US$289mn net loss in Q4 - Peru
Thursday, February 21, 2008

Denver-based Newmont Mining (NYSE: NEM) reported a fourth quarter loss of US$289mn compared to a US$223mn profit year-on-year on write-downs and rising costs, the company reported in its year-end financial statements.

Newmont declared a US$1.12bn write-down of exploration goodwill in the fourth quarter and another write-down of marketable securities for US$39.0mn.

Revenues in 4Q07 came to US$1.41bn versus US$1.42bn year-on-year while cash costs rose to US$384/lb in the recent quarter from US$324/lb in 4Q06.

For all of last year Newmont registered a US$358mn loss on the settlement of hedge contracts and a US$1.67bn write-down of merchant banking goodwill from discontinued operations.

Revenues for the entire year totaled US$5.53bn versus US$4.88bn in 2006, while cash costs averaged US$406/oz last year compared to US$303/oz. The result was a US$1.89bn net loss for 2007 versus US$791mn in net income the prior year.

The company sold a total of 1.65Moz of gold in 4Q07 versus 1.95Moz in 4Q06 and 6.18Moz in all of 2007 compared to 7.19Moz the year before.

From the 51.3% stake in the Yanacocha gold mine in Peru, Newmont's only mine in Latin America, the company declared 438,000oz of gold sales in Q4 versus 439,000oz year-on-year and 1.57Moz in all of 2007 versus 2.57Moz in 2006.

The company also mines in Canada, the US, Australia, New Zealand, Ghana and Indonesia.

Business News Americas