Newmont and Barrick Gold have amended their Nevada Gold Mines (NGM) joint venture agreement, resolving all outstanding disputes between the companies.
Newmont will make a $1.95 billion cash payment to Barrick to account for the value of newly contributed assets.
The expanded venture now includes Barrick’s Fourmile project alongside Newmont’s Fiberline and Mike projects.
The agreement establishes modernized governance provisions for the joint operations.
Newmont has officially granted consent for Barrick’s planned initial public offering (IPO) of its North American gold assets.