Nevada Gold Mines is an American gold mining company that was formed on July 1, 2019, as a joint venture between Barrick Gold (61.5% ownership) and Newmont (38.5% ownership) through the combination of their significant gold mining assets across northern Nevada.[2] The assets in Nevada Gold Mines include 10 underground mines and 12 surface mines as well as related facilities.[3]
Barrick Gold is the operator of Nevada Gold Mines.[4] In 2023, they started to install 200 MW of Ohio made solar panels.[5] The solar panels were installed and operational by 2024.[6]
History
Barrick and Newmont announced an implementation agreement to create the Nevada joint venture on March 11, 2019.[7] Nevada Gold Mines was officially launched on July 1, 2019 as Nevada Gold Mines LLC.[8]
At announcement, the companies stated that the combined Nevada operations had produced about 4.1 million ounces of gold in 2018 (prior to the launch of the joint venture).[9]
In August 2024, Barrick announced completion of a second phase of a 200-megawatt solar power plant at Nevada Gold Mines and stated that the solar facility had the capacity to produce about 17% of NGM's annual power demand.[10] In a November 2024 results release, Barrick further stated that the solar project was expected to reduce carbon dioxide equivalent emissions by 234 kilotonnes per year and to reduce NGM's total annual greenhouse gas emissions by 8% against a 2018 baseline.[11]
Ownership and governance
Nevada Gold Mines is owned 61.5% by Barrick and 38.5% by Newmont, with Barrick designated as operator.[7]
A technical report filed with the U.S. Securities and Exchange Commission describes a joint venture board in which Barrick has the right to appoint three members and Newmont two members.[12] The same filing describes arrangements including pro-rata purchase of refined doré by the owners and retained royalties granted in connection with the venture's formation.[12]
In May 2025, Barrick Gold Corporation completed a corporate name change to Barrick Mining Corporation.[13]
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