Barrick and Newmont end Nevada standoff, clearing path for gold IPO
What the IPO means for investors
Barrick first signalled its intention to restructure its North American and Caribbean assets into a separately listed vehicle in December 2025, with the board formally authorising the restructuring in February 2026.
The new entity, known internally as North American Barrick, is valued by analysts at approximately US$42 billion and would hold Barrick’s stakes in Nevada Gold Mines, the Pueblo Viejo mine in the Dominican Republic, and the Fourmile discovery in Nevada; considered by the company to be one of the most significant gold finds of this century.
The IPO, targeting a 10 to 15 per cent public float, is expected to list primarily in New York with a secondary listing in Toronto. The combined assets produced approximately 2.0 million attributable ounces of gold in 2025.
Why Newmont moved now
Having spent the early months of 2026 publicly pressing Barrick on operational shortfalls, the company’s decision to agree to the deal suggests both parties concluded that a negotiated resolution served their shareholders better than a protracted legal dispute.
Newmont had previously raised concerns about whether the IPO could constitute a change of control under joint venture agreement terms, which would trigger a right of first refusal over Barrick’s Nevada assets. The new agreement appears to have addressed those concerns through the enhanced governance framework, removing what had been a significant legal overhang on the transaction.
