Barrick and Newmont unite on key property developments

Barrick Mining Corp. and Newmont Corp. have reached an agreement under which excluded properties, including Barrick’s Fourmile and Newmont’s Fiberline and Mike developments, will be contributed into the Nevada Gold Mines (NGM) joint venture. The agreement concludes all outstanding disputes between the parties related to the NGM joint venture.

With the resolution of all outstanding disputes and contribution of excluded properties, Newmont has provided its consent to Barrick’s proposed IPO of its North American gold assets.

The agreement includes enhanced governance provisions under a modernized joint venture agreement and provides for consideration of US$1.95 billion from Newmont to Barrick to reflect the contribution of excluded properties into the joint venture.

This agreement positions both parties to maximize the value of the joint venture. Newmont and Barrick will continue working together to improve NGM’s safety and performance, unlock the full value these assets are capable of delivering, and ensure the long-term success of the joint venture for the benefit of all stakeholders.