Newmont and Barrick Gold resolved all outstanding disputes regarding the Nevada Gold Mines (NGM) joint venture. Newmont will pay Barrick $1.95 billion under the amended agreement.
Both companies will contribute previously excluded assets to the venture. Barrick will add the Fourmile project. Newmont will contribute the Fiberline and Mike developments.
The settlement ends Newmont's previous allegations of mismanagement against Barrick. Newmont now consents to Barrick’s planned initial public offering of its North American assets. This approval removes a primary hurdle for the proposed spinoff.
The partners aim to maximize the value of the world’s largest gold mining complex through this agreement.