Nevada Gold Mines minority owner Newmont Corporation (TSE: NGT) (NYSE: NEM) (FRA: NMM) is reportedly considering how it could takeover the joint venture and buy up its partner’s state projects.
In a report from Bloomberg last week, a group of anonymous sources revealed Newmont’s ambitious plans for the Barrick Mining Corp (TSE: ABX) (NYSE: B) (ETR: ABR0) gold assets.
They say that Newmont may make a bid for Barrick’s 61.5 per cent stake in the Nevada Gold Mines operations. Furthermore, Newmont is considering making an offer for a full takeover of Barrick. This would be proceeded by a divestment of non-core assets if successful, they said.
Barrick’s Nevada holdings are among its most valuable, thereby throwing the viability of such takeover plans into question due to the gold producer’s potential reluctancy in being willing to part ways with them.
Newmont is much less interested in international mining assets held by Barrick than the Nevada gold assets, the sources specified.
Nevada Gold Mines is not the only joint venture the companies currently have. They also operate the Pueblo Viejo gold mining operation in the Dominican Republic with a similar ownership structure. Barrick holds a majority stake at 60 per cent and Newmont holds the remainder.
The news comes as both operators have been on a lengthy rally alongside the price of precious metals. Barrick is up by over 109 per cent year-to-date on the New York Stock Exchange while Newmont has seen gains exceeding 123 per cent since Jan. 1.
It also follows the gold majors choosing to appoint new leaders earlier this month. Newmont CEO Tom Palmer will be stepping down by the end of the year and being replaced by the first female chief executive in the company’s history: Natascha Viljoen.
She currently serves as Newmont’s president and chief operating officer. Viljoen previously held the position of CEO at Valterra Platinum Ltd (OTCMKTS: AGPPF) (FRA: RPHA).
For Barrick, Mark Hill has stepped in as the company’s interim CEO following the unexpected departure of Mark Bristow. The major gold producer is currently seeking a long-term fill for the position. Sources have indicated that internal conflict between Bristow and other executives arose due to significant disagreements about portfolio management and company strategy.
Bristow had been butting heads with Barrick’s Chairman John Thornton in particular.
Important to understand that the sell-off in Newmont today wasn't due to bad earnings. It was due to hedge funds in the know getting ahead of the offer that Newmont is about to make for Barrick. $B$NEM cannot realistically support a US$100 billion market cap with its current… pic.twitter.com/iHnySQY5GU
— CEO Technician (@CEOTechnician) October 25, 2025
Read more: NevGold targets U.S. critical mineral supply chain with new antimony-gold find
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