Barrick Gold Corp's Fourmile project in Nevada faces uncertain timing for its pre-feasibility study, now delayed beyond the previously targeted 2028 completion. The Toronto-based miner is evaluating access options through the neighboring Goldrush mine as part of the broader Nevada complex. This revision follows Barrick's August deal with Newmont Corp., which transferred a stake in Fourmile to the joint venture in exchange for Newmont's support of Barrick's planned North American asset IPO.
The agreement resolves prior legal threats from Newmont over joint venture mismanagement. Bringing Fourmile into the joint venture allows Barrick to share infrastructure with Goldrush. Barrick expects to file its IPO registration statement later this month, targeting completion in Q4 2026 or early 2027.
Shares rose over 5% in Toronto to their highest level since September 25, tracking broader mining sector gains. The filings will offer investors a clearer view of Nevada Gold Mines and Pueblo Viejo plans, though updated reserves and resources are not expected until year-end.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing