Barrick Mining Delivers Strong Q2 Results, Secures Landmark Newmont Deal

Barrick Mining reported strong second-quarter results for 2026, driven by higher realized gold and copper prices. The company's revenue jumped 44% year-on-year to $5.29 billion, while net earnings climbed to $1.22 billion or $0.73 per share.

The miner also secured a landmark agreement with Newmont to expand the Nevada Gold Mines joint venture by adding Barrick's Fourmile and Newmont's Mike and Fiberline properties. This deal creates a nearly 100-million-ounce gold complex and resolves all outstanding disputes between the two companies.

Newmont will pay Barrick $1.95 billion in cash within 30 days as part of the agreement, which also includes Newmont's consent to Barrick's planned IPO of its North American gold assets by year-end. This move enhances financial flexibility and positions Barrick and the future pure-play gold entity more competitively.

Barrick maintained cost discipline, with gold all-in sustaining costs at $1,866 per ounce, and continued to invest in safety, committing $90 million to safety technology in 2026. The company's key growth projects progressed on schedule, underscoring a robust pipeline aimed at sustaining long-term production and value.