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NOTE 9 – LEASE OBLIGATIONS

We lease certain mining, production and other equipment under operating and capital leases. The leases are for varying lengths, generally at market interest rates and contain purchase and/or renewal options at the end of the terms. Our operating lease expense was $7.9 million and $13.7 million, respectively, for the three and six months ended JuneÌý30, 2011, compared with $6.0 million and $11.9 million, respectively, for the same periods in 2010.

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Future minimum payments under capital leases and non-cancellable operating leases at JuneÌý30, 2011 are as follows:

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