Barrick, Newmont settle dispute with $1.95B deal
Nevada settlement clears a hurdle for Barrick’s North American IPO as rising costs and leadership scrutiny weigh on the miner.
Barrick Mining and Newmont Mining have settled their Nevada Gold Mines disputes in a deal valued at $1.95 billion. This agreement will incorporate Barrick's Fourmile project, Newmont's Fiberline and Mike projects, and Newmont's planned initial public offering (IPO) of North American gold assets into the joint venture. Newmont is obligated to pay Barrick the $1.95 billion within 30 days, while the partners have also agreed to revised governance provisions.
The resolution of this dispute removes uncertainty surrounding the relationship between the world's two largest Western gold miners at Nevada Gold Mines, allowing Barrick to proceed with the IPO amid increased investor scrutiny of its performance and leadership.
Written by urgent.news from Mining.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
