On August 10, 2026, Barrick Mining Corporation (TSX: ABX, NYSE: B) and Newmont Corporation (NYSE: NEM) announced an agreement resolving all outstanding disputes related to the Nevada Gold Mines (NGM) joint venture, according to a GlobeNewswire release dated the same day.
The headline term: Newmont will pay Barrick $1.95 billion in cash within thirty days.
In exchange, both companies are contributing their previously excluded properties into the joint venture. Barrick's Fourmile project goes in alongside Newmont's Fiberline and Mike developments. The combined result, per the August 10 announcement, is a nearly 100-million-ounce gold complex in Nevada.
The dispute had turned publicly hostile. On February 3, 2026, Newmont issued a formal Notice of Default to Barrick — an extraordinary escalation between partners in a joint venture established July 1, 2019. Newmont alleged that Barrick had diverted shared JV resources, including heavy machinery and specialized technical staff, to accelerate development of Fourmile, a high-grade discovery that Barrick holds 100%. That allegation is now moot: the August 10 agreement concludes all outstanding disputes between the parties related to NGM.
The governance structure is also being overhauled. Both companies agreed to enhanced governance provisions under a modernized Nevada Gold Mines joint venture agreement. The existing ownership split — Barrick at 61.5% operator, Newmont at 38.5% — was established at the original close in 2019 and is not changed by the announcement as reported. NGM's existing asset base spans 10 underground and 12 open pit mines, two autoclave facilities, two roasting facilities, four oxide mills, a flotation plant, and five heap leach facilities across the Cortez, Carlin, Turquoise Ridge, Phoenix, and Long Canyon operations.
The resolution also unblocks a significant Barrick corporate initiative. With all outstanding disputes concluded and excluded properties contributed into NGM, Newmont has provided its consent to Barrick's proposed IPO of its North American gold assets — consent that was effectively withheld while the dispute remained live. Barrick continues to expect to complete the IPO by the end of 2026, subject to market and other conditions and necessary approvals.
The announcement landed alongside Barrick's second-quarter 2026 results. Q2 gold production rose 11% sequentially to 796,000 ounces, and revenues grew 44% year-on-year to $5.29 billion, per the company's August 10 GlobeNewswire release. Net earnings were $1.22 billion, or $0.73 per share. Adjusted EPS came in at $0.82, up 74%, though that figure landed below the $0.88 average analyst estimate compiled by LSEG — higher production costs and retrospective tax penalties in Mali were cited as offsets to strong output. Operating cash flow increased 28% to $1.70 billion. Barrick declared a $0.175 quarterly dividend and repurchased $1.209 billion of shares in the quarter, bringing total Q2 shareholder returns to $1.50 billion, up 242%.
The Q2 earnings miss matters as context: the IPO, which the NGM resolution now enables, has become increasingly important as investors scrutinize Barrick's performance and leadership, per reporting from Mining.com on August 10.
What's next is clearly defined. Newmont must deliver the $1.95 billion cash payment within thirty days. Fourmile, Fiberline, and Mike move into the NGM structure. And Barrick's North American IPO process can formally advance toward its targeted end-of-2026 window.