Nevada Gold Mines
A large Nevada gold-mining joint venture owned by Barrick and Newmont.
Last updated August 31, 2026
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Overview
Nevada Gold Mines is a large-scale gold-mining company and joint venture operating in northern Nevada, United States. It was created on July 1, 2019, when Barrick Gold and Newmont combined their significant Nevada mining assets into a single operating organization. Barrick holds a 61.5% interest and serves as operator, while Newmont holds the remaining 38.5%. The venture brought together assets that had previously been controlled separately by the two companies and was presented as a way to coordinate infrastructure, mine planning, processing, and capital investment across one of the world’s most important gold-producing regions. The joint venture’s asset base includes a combination of underground and open-pit operations, processing facilities, and related infrastructure. The assets identified with Nevada Gold Mines include the Carlin operation, Cortez Gold Mine, Getchell Mine, Goldstrike mine, Long Canyon, Phoenix, and Twin Creeks Mine. Across the wider portfolio, the company has been described as having 10 underground mines and 12 surface mines. These operations extract gold ore using different mining methods and feed material into associated processing facilities. The combination spans mature, long-running Nevada districts as well as mines and deposits at different stages of development and production. The creation of Nevada Gold Mines followed an implementation agreement announced by Barrick and Newmont on March 11, 2019. Before the joint venture formally began, the companies stated that their combined Nevada operations had produced approximately 4.1 million ounces of gold in 2018. The venture therefore began with a substantial operating base rather than as a new greenfield mining project. Its business model is centered on producing gold, managing a large and technically diverse group of mines, and using shared infrastructure and coordinated operations to improve efficiency and extend the value of the Nevada assets. Barrick’s role as operator gives it responsibility for day-to-day management and operational execution. Governance arrangements provide Barrick with the right to appoint three members to the joint-venture board and Newmont with the right to appoint two. The ownership structure also includes arrangements for the owners to purchase refined doré on a pro-rata basis and royalties associated with the formation of the venture. Nevada Gold Mines is not a separately listed public company; its economic results and strategic importance are reflected through its parent companies, particularly Barrick as operator and majority owner. Energy and emissions management became a notable part of the venture’s more recent development. In 2023, Nevada Gold Mines began installing a 200-megawatt solar-power project using panels manufactured in Ohio. The solar facility was operational by 2024, and Barrick announced completion of a second phase in August 2024. Barrick stated that the project could supply about 17% of Nevada Gold Mines’ annual electricity demand. A later 2024 results release attributed expected annual reductions of approximately 234 kilotonnes of carbon-dioxide-equivalent emissions to the project and described this as an 8% reduction in the venture’s total annual greenhouse-gas emissions against a 2018 baseline. Nevada Gold Mines’ positioning combines the scale of a major gold producer with the operational focus of a regional mining platform. Its activities remain concentrated in Nevada rather than being distributed across multiple countries. The company’s principal output is gold, while its broader responsibilities include mine development, ore processing, power procurement and generation, environmental management, safety, infrastructure, and community and regulatory engagement. In May 2025, Barrick completed a corporate name change to Barrick Mining Corporation, but Nevada Gold Mines remained the Barrick-operated joint venture between the two parent companies.
History
Nevada Gold Mines was established through the combination of major Nevada mining assets owned by Barrick Gold and Newmont. The companies announced an implementation agreement on March 11, 2019, after deciding to coordinate their substantial operations in northern Nevada through a single joint venture. The arrangement was formally completed on July 1, 2019, when Nevada Gold Mines LLC began operating. Barrick received a 61.5% interest and the role of operator, while Newmont retained a 38.5% interest. The venture was formed from an existing production base. At the time of the announcement, Barrick and Newmont said that their combined Nevada operations had produced about 4.1 million ounces of gold during 2018. Rather than representing the opening of one new mine, Nevada Gold Mines brought together a network of established mines, processing facilities, and supporting infrastructure. Its portfolio includes the Carlin operation, Cortez Gold Mine, Getchell Mine, Goldstrike mine, Long Canyon, Phoenix, and Twin Creeks Mine. The broader asset base has been described as including 10 underground mines and 12 surface mines. The structure was intended to create operational and infrastructure benefits across the Nevada portfolio. Barrick manages the combined operations, while a joint-venture board provides representation for both owners, with Barrick entitled to appoint three members and Newmont two. The ownership arrangements also cover the pro-rata purchase of refined doré by the parent companies and royalties connected with the venture’s formation. A later phase of the venture’s development focused on energy supply and emissions reduction. In 2023, Nevada Gold Mines began installing a 200-megawatt solar project using panels produced in Ohio. The facility was operational by 2024. In August 2024, Barrick announced completion of a second phase and stated that the solar installation could provide approximately 17% of the venture’s annual power demand. Barrick subsequently reported that the project was expected to reduce annual carbon-dioxide-equivalent emissions by roughly 234 kilotonnes, equivalent to an 8% reduction in Nevada Gold Mines’ total annual greenhouse-gas emissions compared with a 2018 baseline. Nevada Gold Mines remains a Nevada-focused gold producer and is not separately listed on a stock exchange. Its ownership and financial significance are reflected through Barrick and Newmont. Barrick’s corporate name changed to Barrick Mining Corporation in May 2025, but the Nevada Gold Mines joint venture continued as the jointly owned and Barrick-operated mining platform.
- 2025
Barrick corporate name change
[1]Barrick Gold Corporation completed a corporate name change to Barrick Mining Corporation; Nevada Gold Mines remained the jointly owned Nevada venture.
- 2024
Second solar-project phase completed
[1]Barrick announced completion of the second phase of the solar facility and described its expected contribution to the venture’s electricity supply and emissions profile.
- 2023
Solar installation begins
[1]The venture began installing a 200-megawatt solar-power project to support its Nevada operations.
- 2019
Implementation agreement announced
[1]Barrick and Newmont announced an agreement on March 11 to combine their major Nevada mining assets in a joint venture.
- 2019
Nevada Gold Mines launched
[1]Nevada Gold Mines LLC officially began operating on July 1, with Barrick as operator and ownership divided 61.5% to Barrick and 38.5% to Newmont.
Products and positioning
A large, integrated Nevada gold-mining platform focused on coordinated operations, production efficiency, infrastructure sharing, and lower-carbon power supply.
Precious-metal mining · 2019
Gold
Gold is Nevada Gold Mines’ principal product. The company extracts gold-bearing ore from a geographically concentrated portfolio of underground and surface mines in northern Nevada. Ore is processed through associated facilities, producing gold in refined doré form for purchase by the venture’s owners under the joint-venture arrangements.
Precious-metal output · 2019
Refined doré
Refined doré is the intermediate gold-bearing output generated by the Nevada operations before final refining. The ownership arrangements provide for Barrick and Newmont to purchase refined doré on a pro-rata basis, reflecting their respective interests in the joint venture.
Marketing campaigns
- 2023Nevada solar-power project
United States
Nevada Gold Mines began installing a 200-megawatt solar facility, using Ohio-made panels, to provide a portion of the electricity required by its mining operations.
Outcome. The project was operational by 2024 and was later described as capable of supplying about 17% of annual power demand.
Brand decisions
2023
Invest in large-scale solar generationStrategyBackground
Mining operations require substantial and reliable electricity, while the venture and its operator pursued lower-emission energy supply.
Action taken
Nevada Gold Mines began installing a 200-megawatt solar project, which became operational by 2024.
Aftermath
Barrick said the completed facility could meet approximately 17% of annual power demand and was expected to reduce annual emissions by about 234 kilotonnes of carbon-dioxide equivalent.
2019
Combine Barrick and Newmont Nevada assetsM&ABackground
Barrick and Newmont sought to coordinate their substantial and geographically concentrated Nevada mining operations.
Action taken
They established Nevada Gold Mines LLC, with Barrick holding 61.5%, Newmont holding 38.5%, and Barrick serving as operator.
Aftermath
The new venture began operations on July 1, 2019, bringing multiple underground and surface mines and related facilities under one operating structure.
Recent events
- 2024
Second phase of Nevada Gold Mines solar project completed[1]
Other
Barrick announced completion of the second phase of the 200-megawatt solar facility and said it could supply approximately 17% of the venture’s annual power demand.
- 2024
Barrick reports expected emissions benefits from Nevada solar project[1]
Other
Barrick stated that the solar project was expected to reduce annual carbon-dioxide-equivalent emissions by about 234 kilotonnes and total annual greenhouse-gas emissions by 8% against a 2018 baseline.
- 2023
Nevada Gold Mines begins installation of a 200-megawatt solar project[1]
Other
The venture began installing a large solar-power facility intended to provide part of its annual electricity demand.
- 2019
Barrick and Newmont announce agreement to combine Nevada operations[1]
M&A
The two companies announced an implementation agreement to establish a joint venture combining their major Nevada mining assets.
- 2019
Nevada Gold Mines joint venture begins operations[1]
M&A · Other
Nevada Gold Mines LLC was formally launched on July 1 as a 61.5%-Barrick and 38.5%-Newmont joint venture, with Barrick as operator.
Sources2 sources
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