More from B Q2 2026

Barrick Mining Corporation

B2026 Q2Industrial

1mo

Newmont agreement valuation framing and absence of contingent exploration payments

Management clarified misconceptions by stating the total value of the Newmont package is approximately $4 billion.
The company said the package includes Fourmile and also contributions from Newmont properties Mike and Fiberline, plus settlement of historical disputes and litigation.
Management described the agreement as reducing friction costs of the planned IPO and unlocking greater value beyond transaction cash proceeds.
Multiple questions sought component-level breakdowns (Mike/Fiberline value and dispute adjustments), but management declined to provide those numeric allocations.
In Q&A, management stated there are no contingent payments tied to exploration upside and that the agreement is “done.”

Barrick Mining Corporation

B2026 Q2Industrial

1mo

Financial Performance Summary

Attributable adjusted EBITDA was $2.425 billion, up 51% year over year, with a 59% margin.
Copper production was 56 thousand tons, with comparable margins to the gold business.
Earnings nearly doubled year over year, and quarterly shareholder return more than doubled to $1.5 billion.
Gold costs were managed within guidance.
Gold production was 976 thousand ounces in Q2, 3% above guidance and 11% over Q1, driven by faster-than-expected ramp-ups (Loulo-Gounkoto ahead of schedule; PV faster post-Q1 shutdown) and record underground tonnes at Cortez plus continued Goldrush ramp-up.
North America anchored results with MGM and PV delivering year-over-year revenue growth; together they accounted for 53% of total attributable adjusted EBITDA at a 61% margin.
Q2 earnings were 82¢ per share (adjusted earnings also 82¢/share) and cited as in line with Bloomberg consensus.

Barrick Mining Corporation

B2026 Q2Industrial

1mo

The cash we get back would be the majority would be returned to shareholders.

Mark F. Hill

CEO, Barrick Mining Corporation

Context

In Q&A, an analyst asked about whether cash from the Newmont settlement would flow into the IPO proceeds or be used for shareholder returns. Tanya asked whether any cash Newmont pays would be part of the cash coming into the IPO or instead be used for share buybacks and/or a dividend top-up at year-end 2026. Mark clarified that the cash the company receives would largely be returned to shareholders.

More from B Q2 2026

Barrick Mining Corporation

B2026 Q2Industrial

1mo

Newmont agreement valuation framing and absence of contingent exploration payments

Management clarified misconceptions by stating the total value of the Newmont package is approximately $4 billion.
The company said the package includes Fourmile and also contributions from Newmont properties Mike and Fiberline, plus settlement of historical disputes and litigation.
Management described the agreement as reducing friction costs of the planned IPO and unlocking greater value beyond transaction cash proceeds.
Multiple questions sought component-level breakdowns (Mike/Fiberline value and dispute adjustments), but management declined to provide those numeric allocations.
In Q&A, management stated there are no contingent payments tied to exploration upside and that the agreement is “done.”

Barrick Mining Corporation

B2026 Q2Industrial

1mo

Financial Performance Summary

Attributable adjusted EBITDA was $2.425 billion, up 51% year over year, with a 59% margin.
Copper production was 56 thousand tons, with comparable margins to the gold business.
Earnings nearly doubled year over year, and quarterly shareholder return more than doubled to $1.5 billion.
Gold costs were managed within guidance.
Gold production was 976 thousand ounces in Q2, 3% above guidance and 11% over Q1, driven by faster-than-expected ramp-ups (Loulo-Gounkoto ahead of schedule; PV faster post-Q1 shutdown) and record underground tonnes at Cortez plus continued Goldrush ramp-up.
North America anchored results with MGM and PV delivering year-over-year revenue growth; together they accounted for 53% of total attributable adjusted EBITDA at a 61% margin.
Q2 earnings were 82¢ per share (adjusted earnings also 82¢/share) and cited as in line with Bloomberg consensus.

Barrick Mining Corporation

B2026 Q2Industrial

1mo

The cash we get back would be the majority would be returned to shareholders.

Mark F. Hill

CEO, Barrick Mining Corporation

Context

Barrick Mining Corporation: Gold production beat guidance and prior quarter despite ramp and shutdown dynamics

More from B Q2 2026

Barrick Mining Corporation 2026 Q2: Newmont agreement valuation framing and absence of contingent exploration payments

Barrick Mining Corporation 2026 Q2: Financial Performance summary

More from B Q2 2026

More from B Q2 2026

Barrick Mining Corporation 2026 Q2: Newmont agreement valuation framing and absence of contingent exploration payments

Barrick Mining Corporation 2026 Q2: Financial Performance summary