Barrick, Newmont settle Nevada dispute with $1.95 billion, clearing way for Barrick North America IPO

Barrick Mining and Newmont have resolved all disputes over the Nevada Gold Mines joint venture, with Newmont agreeing to a $1.95 billion cash top-up to Barrick and the inclusion of Barrick’s Fourmile and Newmont’s Fiberline and Mike assets into the venture. The deal also revamps governance and clears the path for Barrick’s planned IPO of its North American gold assets, as Newmont formally consents to the offering. The settlement ends years of friction at NGM, enabling Barrick to move forward with the spinoff while jointly pursuing safety and performance improvements across the operation. Despite the resolution, Barrick reported second-quarter adjusted earnings of $0.82 per share, short of expectations, as higher costs and Mali tax penalties offset stronger gold output. The agreement is expected to unlock the full value of the assets for shareholders and supports Barrick’s strategic objective of separating its North American assets from its global operations.