Under the deal, Barrick will take a 61.5% stake in the joint venture consisting of the duo’s Nevada mines, with Newmont holding the remainder.
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It follows the recent recovery of a 6.12 carat Type II blue stone at the same mine.
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The country’s No.1 gold producer says the “brief” spill affecting the operation has already been halted and blamed vandals for destroying or stealing sections of the pipe it uses to move waste water.
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AccoThe new Liberty project has a measured and indicated resource of 20.5 million tonnes at 2.66 g/t gold.
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Spending destined for South America drops by $600m, while share of funds raised for exploration projects in Africa doubles.
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Even though demand for the precious metal is growing for first time since 2015.
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Chief executive Mark Bristow will discuss a potential JV with rival Newmont only if his company runs the operation.
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The US mining giant fired back with the terms of a deal that seeks merging operations in Nevada.
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Barrick forecasts over $7 billion in pre-tax savings over 20 years, based on net present value — $4.7 billion of which will come from Nevada.
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Miner will pay a special dividend worth $4 billion, or $2.43 cent a share, as it recorded its highest annual underlying earnings in the last five years.
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