Newmont pays Barrick US$1.95b to settle dispute

Newmont (ASX: NEM) and Barrick Mining have settled their outstanding Nevada Gold Mines (NGM) dispute with an amended joint venture agreement.

The companies reached an agreement under which previously excluded properties, including Barrick’s Fourmile and Newmont’s Fiberline and Mike developments, will be contributed into the NGM joint venture.

As part of the deal, Newmont has agreed to pay Barrick US$1.95b to reflect the contribution of excluded properties into the joint venture.

With the resolution of all outstanding disputes and contribution of excluded properties, Newmont agreed to Barrick’s proposed initial public offering (IPO) of its North American gold assets.

Last year, Barrick announced its intentions to separate a minority stake as a new company, North American Barrick, that would hold its North American gold assets.

North American Barrick is expected to have its primary listing in New York, with a secondary listing in Toronto, subject to customary SEC registration and Canadian prospectus qualification processes.

Barrick is on track to complete the IPO by the end of 2026, subject to market and other conditions and necessary approvals.