Barrick Gold Corp. initially made an offer to buy Newmont Mining Corp. in February, but was turned down. Instead, Newmont proposed the two establish a Nevada joint venture. On March 11, the two companies signed an implementation agreement to create the joint venture, which would combine their mining operations, assets, reserves and talent in Nevada.
Newmont’s assets in Nevada include Carlin, Phoenix, Twin Creeks, and Long Canyon and Lone Tree properties while Barrick’s Nevada assets include Cortez, Goldstrike, Turquoise Ridge, Goldrush and South Arturo. Development assets include Fourmile, Mike and Fiberline.
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