Newmont’s Veto Power Complicates Barrick’s Plan to Spin Off North American Assets
Barrick’s North America IPO Plans Depend on Newmont as Nevada JV Terms Shift Power Balance TORONTO – Canadian mining group Barrick’s plans to spin off its North American assets will depend heavily on its joint venture partner Newmont, underscoring a dramatic shift in the balance of power between the two global gold producers, according to documents reviewed by Reuters and accounts from former Barrick executives. Denver-based Newmont’s influence over Barrick’s strategic options marks a reversal from just a few years ago, when Barrick was seeking to buy out Newmont’s minority…
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