Barrick Gold Corporation’s Joint Venture With Newmont Mining Corporation


Barrick Gold Corporation (“Barrick”) and Newmont Mining Corporation (“Newmont”) have signed an implementation agreement to create a joint venture combining their respective mining operations, assets, reserves and talent in Nevada.

Following the completion of the joint venture, the Nevada complex will be the world’s single-largest gold producer. Barrick will own 61.5% of the joint venture and Newmont will own 38.5%. As a result of this agreement, Barrick has withdrawn its Newmont acquisition proposal announced on February 25. Cravath is representing Barrick in connection with the transaction.

Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits.

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname.

The Cravath team is led by partners Richard Hall (Picture) and Aaron M. Gruber and includes associates Andrew M. Wark, Steven Y. Li and Nicolas B. Thomson, and foreign associate attorney Jose-Felix Zaldivar on M&A matters; partner Eric W. Hilfers, practice area attorney Michelle M. Garrett and associate Jana I. Hymowitz on executive compensation and benefits matters; partner Andrew W. Needham and associate Arvind Ravichandran on tax matters; partner Christine A. Varney and senior attorney Jesse M. Weiss on antitrust matters; and partner Andrew J. Pitts on securities matters.

Involved fees earner: Michelle Garrett – Cravath Swaine & Moore; Aaron Gruber – Cravath Swaine & Moore; Richard Hall – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Jana Hymowitz – Cravath Swaine & Moore; Steven Y. Li – Cravath Swaine & Moore; Andrew Needham – Cravath Swaine & Moore; Andrew Pitts – Cravath Swaine & Moore; Arvind Ravichandran – Cravath Swaine & Moore; Nicolas Thomson – Cravath Swaine & Moore; Christine Varney – Cravath Swaine & Moore; Andrew Wark – Cravath Swaine & Moore; Jesse Weiss – Cravath Swaine & Moore; Jose?Felix Zaldivar – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Barrick Gold Corporation;

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Author: Ambrogio Visconti