Barrick Mining Corporation (NYSE: B) reported second-quarter 2026 net earnings of $1.22 billion, or $0.73 per share, up 50% from the same period a year earlier, as higher gold and copper prices drove revenue to $5.29 billion, a 44% increase year-over-year, according to a company press release.

Gold production totaled 796,000 ounces in the quarter, exceeding Barrick's guidance range of 730,000 to 770,000 ounces, driven by an ahead-of-schedule restart at Loulo-Gounkoto, a faster-than-expected recovery at Pueblo Viejo, and record underground output at Cortez. Operating cash flow rose 28% year-over-year to $1.70 billion. Adjusted net earnings per share were $0.82, up 74% from a year earlier.

Barrick also announced an agreement with Newmont to expand the Nevada Gold Mines joint venture by incorporating previously excluded properties. Barrick will contribute its Fourmile property, while Newmont will contribute its Mike and Fiberline assets. Newmont will pay Barrick $1.95 billion in cash within 30 days. The agreement resolves all outstanding disputes related to the joint venture. Newmont also consented to Barrick's planned IPO of its North American gold assets.

Barrick said the North American IPO remains on track for completion by the end of 2026, subject to market conditions and regulatory approvals. Mark Hill, the company's president and chief executive, will lead the new entity upon separation. The planned company would include Barrick's interests in Nevada Gold Mines, Pueblo Viejo, the Fourmile project, and other North American exploration properties.

Full-year gold production guidance of 2.90 million to 3.25 million ounces was unchanged. Total attributable capital expenditure guidance was reduced to $3.8 billion to $4.2 billion from a prior range of $4.0 billion to $4.45 billion, primarily reflecting decreased spending at the Reko Diq project.

Barrick declared a quarterly dividend of $0.175 per share, payable September 15, 2026, to shareholders of record as of August 31, 2026. The company also repurchased $1.21 billion of shares during the quarter under its $3.0 billion buyback program.