Forming the world’s largest gold mining complex
In July 2019, Newmont and Barrick Gold Corp. completed the formation of Nevada Gold Mines LLC (Nevada Gold Mines), a joint venture combining assets from each entity's existing Nevada-based mining operations into a single organization. The joint venture, which is 38.5% owned by Newmont, consists of numerous open pit and underground mines, two autoclave facilities, two roasting plants, four oxide mills and five heap leach facilities. Newmont contributed its fully owned Carlin, Phoenix, Twin Creeks and Long Canyon mines in addition to its 25.0% stake in the Turquoise Ridge mine. Efforts at the joint venture continue to be focused on achieving synergies and optimizing operations.
Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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