Barrick’s North America Spin-Off Dependent on Newmont Approval
Barrick Gold’s plan to spin off its North American assets via an IPO — including its Nevada Gold Mines stake, Pueblo Viejo, and Fourmile — cannot proceed without Newmont’s consent, according to regulatory filings and joint-venture agreements.
Key Points
📌 Approval Required: Under the joint-venture agreement, Barrick must offer its Nevada Gold Mines interest to Newmont before any third-party sale and obtain Newmont’s consent to move forward with the spin-off.
💰 Capital Needs: Barrick also needs Newmont to fund development of the Fourmile project, which is expected to be a key future asset in the new company.
📈 Strategic Timing: The spin-off plan follows corporate restructuring after leadership changes and ongoing investor interest in gold amid record-high prices.
Expert Insight
Barrick’s ability to unlock value through a North America IPO now hinges on cooperation with its joint‐venture partner. Newmont’s approval isn’t just procedural — it’s strategic, given its minority stake and veto rights.
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