Barrick and Newmont resolve Nevada dispute with $1.95bn agreement

Barrick Mining misses profit target as it settles Nevada Gold Mines dispute with its joint venture partnerAugust 10, 2026The Canadian gold miner reported adjusted profit of 82c per share for the three months to end-June. Picture: (REUTERS/Dado Ruvic/Illustration)

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Barrick Mining missed second-quarter profit estimates on Monday due to rising production costs and retrospective tax penalties in Mali, despite beating gold output targets.The company said it had reached an agreement with Newmont under which Barrick’s Fourmile and Newmont’s Fiberline and Mike projects will contribute to the Nevada Gold Mines joint venture, resolving all outstanding disputes between the partners.The deal includes revised governance provisions and a $1.95bn payment from Newmont to Barrick.The Canadian gold miner reported adjusted profit of 82c per share for the three months to end-June, compared with analysts’ average estimate of 88c per share, according to data compiled by LSEG.