All articles tagged with #barrick
Barrick and Newmont settle their Nevada dispute with a $1.95 billion payment from Newmont, merging Barrick’s Fourmile and Newmont’s Fiberline and Mike into Nevada Gold Mines, along with revised governance and Newmont’s consent to Barrick’s planned North American gold-assets IPO by year-end. The deal comes as Barrick posted a Q2 adjusted earnings miss due to higher costs, even as production rose.
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.
Barrick announced a leadership change with Mark Hill appointed as interim CEO following Mark Bristow's departure, as the company searches for a permanent successor. Bristow led Barrick for nearly seven years, overseeing significant growth and shareholder returns. Hill, with 30 years of experience, will maintain company momentum during the transition.