Newmont to Pay Barrick $1.95B, Contribute Assets to Amended Nevada Gold Mines JV

Newmont Corporation has entered into a Second Amended and Restated LLC Agreement with Barrick Mining Corporation for their Nevada Gold Mines LLC joint venture (Nevada JV). The agreement outlines the contribution of key development projects from both companies into the JV and includes a significant cash payment from Newmont to Barrick, while also resolving all outstanding disputes between the parties regarding the JV.

Key Details

• Asset Contribution: Barrick's Fourmile project and Newmont's Fiberline and Mike projects will be contributed to the Nevada JV.
• Financial Terms: Newmont will pay Barrick $1.95 billion in cash within 30 days of the Fourmile project contribution. This is accompanied by deemed capital contributions of $1.95 billion by Newmont and approximately $3.11 billion by Barrick to the JV.
• Dispute Resolution: Concurrently with the agreement, the parties entered into a confidential settlement agreement, resolving all outstanding disputes related to the Nevada JV.
• Agreement Updates: The amended agreement, dated August 10, 2026, also modifies procedures for valuing future property contributions and amends certain governance approval rights for senior leadership.