Joint VentureAug 13, 2026, 04:45 PM
Newmont, Barrick Amend Nevada Gold Mines JV; Newmont Pays $1.95B
AI Summary
Newmont Corporation and Barrick Mining Corporation entered into a Second Amended and Restated Limited Liability Company Agreement for Nevada Gold Mines LLC. This agreement facilitates the contribution of Barrick's Fourmile project and Newmont's Fiberline and Mike projects into the joint venture. As part of the deal, Newmont will pay Barrick $1.95 billion in cash, and the agreement resolves all outstanding disputes between the parties while also enhancing governance provisions.
Key Highlights
- Second Amended and Restated LLC Agreement signed for Nevada Gold Mines JV.
- Barrick's Fourmile project and Newmont's Fiberline and Mike projects to be contributed to Nevada JV.
- Newmont Member to pay Barrick Member $1.95 billion in cash within 30 days of Fourmile project contribution.
- Newmont Member to make a deemed capital contribution of $1.95 billion to Nevada JV.
- Barrick Member to make a deemed capital contribution of approximately $3.11 billion to Nevada JV.
- Nevada JV will assume all liabilities associated with the contributed projects.
- Agreement resolves all outstanding disputes between Newmont and Barrick related to Nevada JV.
- Newmont provided consent to Barrick's proposed North American IPO.
- Enhanced governance provisions are included in the amended agreement.
Price Impact
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