Barrick Gold May Reach Early Agreement with Newmont on "Fourmile" Gold Mine Joint Venture in Nevada, USA

en.Wedoany.com Reported - Barrick Gold CEO Mark Hill stated that the company may reach an early agreement with Newmont Corporation regarding the "Fourmile" gold project, incorporating it into the Nevada Gold Mines joint venture. The joint venture, in which Barrick and Newmont hold 61.5% and 38.5% interests respectively, encompasses the majority of Barrick's assets in North America.

The "Fourmile" gold project is wholly owned by Barrick, which describes it as "one of the greatest gold discoveries of this century." It is currently not part of Nevada Gold Mines and was originally expected to take several more years before being contributed to the joint venture. The pre-feasibility study for the project is expected to be completed in 2028, at which point Newmont will have a clearer understanding of the value of this Nevada-based project.

During a conference call with analysts on Monday following Barrick's first-quarter earnings release, Hill indicated the possibility of reaching an early agreement with Newmont on the "Fourmile" project. He did not provide a specific timeline. He said, "If we can reach an agreement, I mean, we would certainly incorporate it. It would be an open discussion, and we just have to see if we can bring it in early."

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