Barrick Mining Corporation Secures $1.95 Billion Settlement From Newmont

Barrick Mining Corporation secured a $1.95 billion cash payout from Newmont Corporation to resolve a longstanding governance dispute over their joint operations in Nevada. The conflict stemmed from the 2019 formation of the Nevada Gold Mines joint venture, which was established after Barrick's $18 billion hostile takeover attempt of Newmont failed.

This settlement allows Barrick to move forward with a planned initial public offering and the spinoff of its North American gold assets into a separate company. The new entity will encompass Nevada Gold Mines, the Fourmile discovery in Nevada, and the Pueblo Viejo mine in the Dominican Republic.

In a separate financial update, Barrick reported that second-quarter revenue rose 44% to $5.29 billion. The company attributed this growth to higher gold and copper prices, which were driven by artificial intelligence infrastructure demand and geopolitical tensions.