Barrick-Newmont truce paves way for major North American gold IPO

Barrick and Newmont have ended a long-running dispute by agreeing to fold Barrick’s Fourmile asset into the Nevada Gold Mines JV and allowing Barrick’s planned North American IPO, with Newmont paying about $2 billion to reflect Fourmile’s value; the deal includes governance changes at NGM and Barrick plans to float 10-15% of the North American business, while Barrick’s shares fell about 8% on the news.