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Barrick Gold Corporation's Joint Venture with Newmont Mining Corporation

On March 11, 2019, Barrick Gold Corporation (“Barrick”) and Newmont Mining Corporation (“Newmont”) announced that the two companies 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 As a result of this agreement, Barrick has withdrawn its Newmont acquisition proposal announced on February 25.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.

For the website item on the previous proposal, please click here.

The Cravath team is led by partners Richard Hall 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.