I see Newmont intends to add 90 million ounces of gold over the next 9 years. I guess this means they intend to hold their current reserve number and add to that consistantly by an average of 10 million ounces a year. If this would be an average # per major, you are talking considerable ounces that would be increased, on top of replenishing their reserves. I also find it interesting they use the word "equivalent", meaning not only gold. This potential could come from aquisitions and expanding their current reserves. If they could add 5 million ounces per year reserves from existing, it would leave 5 million ounces a year to be aquired.

Company side, O’Brien said, “we continue to see the potential to add the equivalent of 90 million ounces of gold in reserves between 2011 and 2020. And in 2011, as disclosed previously, we made significant progress by adding 11.6 million ounces of gold to reserves.”

http://www.kitco.com/reports/KitcoNews20120427AS_Newmont.html

IMO