Newmont Corp. is pressuring its joint-venture partner, Barrick Mining Corp., to improve operations at their shared Nevada gold mines before Barrick proceeds with a planned late-2026 IPO of these assets. Newmont, holding a 38.5% stake in the Nevada joint-venture, believes it has the power to block the IPO, citing concerns over the declining performance and value of the assets. This comes after Barrick announced plans to sell 10-15% of its North American gold operations, which also include the wholly-owned Fourmile development and a mine in the Dominican Republic.
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Newmont wants Barrick to fix Nevada operations before IPO
Newmont Corp. is pressuring its joint-venture partner, Barrick Mining Corp., to improve operations at their shared Nevada gold mines before Barrick proceeds with a planned late-2026 IPO of these assets. Newmont, holding a 38.5% stake in the Nevada joint-venture, believes it has the power to block the IPO, citing concerns over the declining performance and value of the assets. This comes after Barrick announced plans to sell 10-15% of its North American gold operations, which also include the wholly-owned Fourmile development and a mine in the Dominican Republic.