By Micah Maidenberg 
 

Barrick Gold Corp. and Newmont Corp. said Monday their mining venture in Nevada approved the conversion of a coal-fired plant into one that could also produce power from natural gas.

The venture, called Nevada Gold Mines, is working with state regulators to secure permits to start construction on the project this year and achieve final commissioning for the plant in the second quarter of 2022.

Like other companies, miners have been looking to bolster their environmental bona fides as investors focus more on those issues as well as on social and governance concerns.

Meanwhile, coal miners that focus on utility coal face pressure, given the carbon emissions associated with the mineral.

The Nevada venture also is considering adding a solar facility to the mining development, Barrick and Newmont said.

Barrick owns 61.5% of the Nevada venture, with Newmont holding the rest. Barrick operates the development, which includes the Cortez, Carlin, Turquoise Ridge and other gold mines in the state.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

February 24, 2020 14:21 ET (19:21 GMT)

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