The new joint venture (JV) between gold majors Barrick and Newmont Goldcorp has a name.
The JV would be called Nevada Gold Mines and would be headed by Barrick’s head of the North American region, Greg Walker, the companies unveiled on Thursday.
Barrick would operate Nevada Gold Mines, which is owned 61.5% by Barrick and 38.5% by Newmont Goldcorp.
Barrick CEO and president Mark Bristow said that Nevada Gold Mines was a “classic case of the whole being more valuable than the sum of the parts”.
Nevada Gold Mines will have three tier-one gold mines: Barrick’s Cortez, the combination of Barrick’s Goldstrike and Newmont Goldcorp’s Carlin, and Barrick’s Turquoise Ridge with Newmont Goldcorp’s Twin Creeks.
Barrick’s Goldrush-Fourmile project has the potential to become the fourth.
The operations making up the JV produced more than four-million ounces of gold in 2018, more than double the next largest gold mining complex.
Bristow said in a media statement that Nevada Gold Mines’ branding reflected the JV partners’ deep roots in Nevada, a state rich in gold deposits.