Newmont Explores Takeover of Barrick's Nevada Gold Assets Amid Production Concerns
Newmont Corporation (NYSE:NEM), the world's leading gold miner, is exploring a potential takeover of Barrick Gold Corporation's (NYSE:B) Nevada gold assets. This comes as Newmont's shares dipped 6.2% on Friday, following concerns about production and gold price forecasts. Meanwhile, Newmont's Ahafo North project in Ghana has begun commercial production.
Newmont is considering various deal structures, including a bid for Barrick's joint venture stake or a full takeover followed by asset sales. However, Newmont is less interested in Barrick's African operations and the Reko Diq copper-gold project in Pakistan. The exploration is led by Natascha Viljoen, Newmont's President and COO, who will succeed Tom Palmer as CEO on January 1, 2026. Palmer is retiring at the end of 2025, making Viljoen the first woman to lead Newmont in its over 100-year history.
The potential acquisition of Barrick's Nevada gold assets could strengthen Newmont's position in the region, which is known for its rich gold deposits and favorable mining conditions. However, the deal is subject to various factors, including regulatory approvals and market conditions.
Newmont's exploration of a takeover of Barrick's Nevada gold assets signals a strategic move to boost its gold production and reserves. The deal, if successful, could help Newmont offset expected declines in production and gold price next year. Meanwhile, the company's Ahafo North project in Ghana has started commercial production, contributing to Newmont's overall output.
