Barrick, Newmont joint venture to be named Nevada Gold Mines
LAS VEGAS (AP) — A company official says a joint venture in Nevada between the state’s two largest gold producing companies is nearing regulatory approval and will be called Nevada Gold Mines.
The Elko Daily Free Press reports that Barrick Gold Corp. chief executive Mark Bristow revealed the name during a company earnings report on Wednesday.
Barrick will hold 61.5% and Newmont Goldcorp will hold 38.5% of the joint venture, with Barrick operating mines that combined produced more than 4 million ounces (113.4 million grams) of gold last year.
Barrick and Newmont announced the joint venture for Nevada operations in March, after Barrick gave up a takeover bid.
Newmont in April completed a nearly $10 billion deal to acquire Goldcorp Inc.
Barrick and Randgold Resources merged in January.
Information from: Elko Daily Free Press, http://www.elkodaily.com