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Newmont, Barrick Mining Resolve Nevada Gold Mines Disputes in $1.95 Billion Deal

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Newmont (ASX:NEM) and Barrick Mining have agreed to settle all outstanding disputes over their Nevada Gold Mines (NGM) joint venture by contributing previously excluded assets, including Barrick's Fourmile and Newmont's Fiberline and Mike developments, to the joint venture, according to a Tuesday filing with the Australian bourse.

The company will pay Barrick $1.95 billion for the contributed assets and has approved Barrick's proposed initial public offering of its North American gold assets, per the filing.

The deal also strengthens governance through a modernized joint venture agreement, with both companies focused on enhancing NGM's safety and performance while maximizing its long-term value, the filing added.

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