Aug 10 (Reuters) - Barrick Mining ( B ) missed
second-quarter profit estimates on Monday due to rising
production costs and retrospective tax penalties in Mali,
despite beating gold output targets.
The company said it had reached an agreement with Newmont ( NEM )
under which Barrick's Fourmile and Newmont's ( NEM ) Fiberline
and Mike projects will contribute to the Nevada Gold Mines joint
venture, resolving all outstanding disputes between the
partners.
The deal includes revised governance provisions and a $1.95
billion payment from Newmont ( NEM ) to Barrick.
The Canadian gold miner reported adjusted profit of 82 cents
per share for the three months ended June 30, compared with
analysts' average estimate of 88 cents per share, according to
data compiled by LSEG.