Barrick Gold and Newmont settle Nevada joint venture disputes

Barrick Gold and Newmont Corporation have reached a definitive agreement regarding their Nevada Gold Mines joint venture. As part of the deal, Newmont will pay $1.95 billion in cash to resolve outstanding disputes and facilitate the integration of the Fourmile, Fiberline, and Mike properties into the joint venture structure.

The agreement consolidates all properties owned by both companies in Nevada—including Cortez, Carlin, Turquoise Ridge, Phoenix, Fourmile, Fiberline, and Mike—into a single unified platform. This move is intended to optimize costs and operational efficiency at what is considered one of the world’s largest gold mining operations.

In conjunction with this deal, Barrick reported strong second-quarter financial results, including a 44 percent increase in revenue to $5.29 billion and a 74 percent rise in adjusted earnings per share to $0.82. Gold production for the quarter reached 796,000 ounces, exceeding the company’s previous guidance. Barrick is also moving forward with plans to spin off its North American assets through an initial public offering, targeted for completion by late 2026.