Barrick Reports Second Quarter 2026 Results

Agreement with Newmont resolves all disputes; Newmont’s consent to Barrick’s American IPO provides substantial flexibility and value

Barrick achieves third straight quarter of strong operational and financial results

Barrick reached an agreement with Newmont to expand the assets in the Nevada Gold Mines Joint Venture. Both companies are vending in their excluded properties early: Fourmile from Barrick; Mike and Fiberline from Newmont, creating a nearly 100-million-ounce gold complex in Nevada. Newmont will pay Barrick a top-up payment of $1.95 billion cash within thirty days. The agreement resolves all outstanding disputes related to NGM. Newmont has consented to Barrick’s IPO of its North American gold assets, providing great structural flexibility and value.

Q2 gold production increased 11% over Q1 to 796,000 ounces 1 , exceeding guidance of 730,000–770,000 ounces 1 , driven by the ahead-of-schedule ramp-up at Loulo-Gounkoto, a faster-than-expected recovery at Pueblo Viejo following planned Q1 maintenance, and record underground tonnes at Cortez as Goldrush continues to ramp up.

Strong cost discipline across mining and processing kept costs within guidance despite fuel price pressures, with gold cost of sales of $1,993 per ounce, and AISC 3 of $1,866 per ounce.

Operating cash flow of $1.70 billion for the quarter increased 28% year-on-year.

Net earnings of $1.22 billion for the quarter increased 50% year-on-year, net earnings per share of $0.73 rose 55% year-on-year, and adjusted net earnings per share 3 of $0.82 was up 74% year-on-year.

The North American IPO remains on track for expected completion by year end. Mark Hill will be the CEO of the new company upon separation.

Full year production and cost guidance unchanged; total attributable capital expenditure reduced to $3.8 billion–$4.2 billion.

$0.175 quarterly dividend declared and $1.2 billion in share buybacks during the quarter, increasing sharehol