Barrick Gold and Newmont resolve opposition to Barrick’s North American gold assets IPO, easing joint venture tensions.
Barrick Gold (GOLD) shares fell while Newmont (NEM) rose after the companies agreed on terms to proceed with Barrick’s IPO of its North American gold assets. The deal resolves Newmont’s opposition, linked to their Nevada Gold Mines joint venture, potentially unlocking value for Barrick’s assets.
The agreement follows months of negotiations, with Newmont previously blocking the IPO plan. However, some major Barrick shareholders remain skeptical of the strategy, citing concerns over valuation and execution risks.
Markets reacted modestly, with Barrick’s stock down slightly and Newmont’s up, reflecting cautious optimism about the resolution but lingering uncertainty over shareholder support.