Nevada Gold Mines has unveiled it completed the previously announced asset exchange transaction to acquire a 40 percent interest in the South Arturo Joint Venture in Nevada from i-80 Gold Corp.
Along with the 40 percent stake in the property, Nevada Gold Mines “is acquiring a low-cost option to acquire the adjacent Rodeo Creek exploration property, in exchange for the Lone Tree and Buffalo Mountain properties and infrastructure which are currently in care and maintenance,” the business said in a statement.
Nevada Gold Mines is a joint venture between Barrick Gold, which owns a 61.5 percent stake in the company, and Newmont, which holds the remaining 38.5 percent of the shares.
Barrick Gold and Newmont “combined their significant assets across Nevada in 2019 to create the single largest gold-producing complex in the world,” according to the statement.
