Barrick, Newmont Expand Nevada Gold Mines JV, Settle Long-Running Disputes
Mining News | 2026-08-11 05:56:49 | By Paul Ploumis
Under the revised agreement, Barrick will contribute its Fourmile project, while Newmont will add the Mike and Fiberline deposits to the joint venture.
SEATTLE (Scrap Monster): Barrick Mining Corporation and Newmont Corporation have reached a major agreement to strengthen their Nevada Gold Mines (NGM) joint venture by resolving all outstanding disputes between the two mining giants.
Under the revised agreement, Barrick will contribute its Fourmile project, while Newmont will add the Mike and Fiberline deposits to the joint venture. The move is expected to create a nearly 100-million-ounce gold complex in Nevada, which in turn will further reaffirm the region’s position as one of the world’s leading gold-producing districts.
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As part of the transaction, Newmont will make a cash payment of $1.95 billion to Barrick within 30 days. The companies have also updated the governance framework of the joint venture to support long-term growth and operational efficiency.
The settlement removes all legal and commercial disagreements related to NGM and clears the way for Newmont’s approval of Barrick’s planned initial public offering (IPO) of its North American gold assets. It must be noted that the company is on track to complete the IPO by the end of this year.
In related news, Barrick reported strong second-quarter results, with gold production rising 11% from the previous quarter to 796,000 ounces, exceeding guidance. Operating cash flow increased 28% year over year to $1.70 billion, while net earnings climbed 50% to $1.22 billion. The company maintained its full-year production outlook.