By Barrick and Newmont End Nevada Gold Mines Dispute, Expand JV to Nearly 100 Million Ounces
The two mining giants have resolved all outstanding disputes tied to their shared Nevada operation, adding new deposits to the venture and clearing the way for Barrick's planned North American IPO.
What Readers Should Know
- Barrick and Newmont have resolved all outstanding disputes tied to the Nevada Gold Mines joint venture.
- Barrick is contributing its Fourmile project; Newmont is adding the Mike and Fiberline deposits.
- Newmont will pay Barrick $1.95 billion in cash within 30 days.
- The expanded joint venture is expected to create a nearly 100-million-ounce gold complex in Nevada.
- The settlement clears the way for Newmont's approval of Barrick's planned IPO of its North American gold assets, targeted for completion by year-end.
Barrick and Newmont Reach Nevada Gold Mines Settlement
MONTREAL (ScrapMonster): 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.
The settlement ends a period of legal and commercial disagreement over the shared Nevada operation and adds new assets to the venture, reinforcing the region's position as one of the world's leading gold-producing districts.
What Assets Are Being Added to the Joint Venture
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.
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Cash Payment and Updated Governance Terms
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.
How the Settlement Clears the Path for Barrick's IPO
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.
The company is on track to complete the IPO by the end of this year.
Barrick's Second-Quarter 2026 Results
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.
People Also Ask
What did Barrick and Newmont agree to?
They resolved all outstanding disputes related to the Nevada Gold Mines joint venture and expanded it by adding new deposits from both companies.
What assets are being added to Nevada Gold Mines?
Barrick is contributing its Fourmile project, and Newmont is adding the Mike and Fiberline deposits.
How much is Newmont paying Barrick?
Newmont will pay Barrick $1.95 billion in cash within 30 days of the agreement.
How does this settlement affect Barrick's IPO plans?
It clears the way for Newmont's approval of Barrick's planned IPO of its North American gold assets, which Barrick is on track to complete by year-end.
How did Barrick perform in the second quarter of 2026?
Gold production rose 11% quarter over quarter to 796,000 ounces, operating cash flow increased 28% year over year to $1.70 billion, and net earnings climbed 50% to $1.22 billion.
