China produced 384 tonnes of gold in 2025, roughly 10 percent of global supply, according to World Gold Council data. Over the same 15-year span, Chinese gold production rose from 351 tonnes in 2010 to 384 tonnes in 2025, while U.S. output fell from 231 tonnes to 157 tonnes.
The decline has prompted a fresh US policy focus on domestic mining. Executive Order 14241, issued in March 2025, explicitly lists gold among minerals targeted for faster permitting and increased investment.
Why the Shift Matters for Investors Now
Retail investors tracking supply-chain security see the US effort to reduce foreign mineral dependence as a structural tailwind.
Nevada remains the key battleground, accounting for 64 percent of US gold production in 2025.
Barrick Mining Positions as Largest US Producer
Barrick Mining Corp. (ABX:TSX; B:NYSE) owns 61.5 percent of Nevada Gold Mines and operates the joint venture, which spans the Carlin, Cortez, Turquoise Ridge, and Phoenix districts in northern Nevada.
Barrick owns 61.5% of Nevada Gold Mines and runs the joint venture that spans the Carlin, Cortez, Turquoise Ridge, and Phoenix districts.
Key Catalyst: August 2026 Agreement Adds Nearly 100 Million Ounces
On August 10, 2026, Barrick and Newmont Corp. (NEM:NYSE; NEM:ASX) reached an agreement to fold additional projects into the joint venture. Barrick contributes to the Fourmile project; Newmont contributes to the Mike and Fiberline projects.
Newmont agreed to pay Barrick US$1.95 billion as part of the deal, which is expected to create a nearly 100-million-ounce gold complex in Nevada.
Company Advantage and Current Production Strength
Barrick reported 796,000 ounces of gold production in Q2 2026, an 11 percent increase from the prior quarter. Revenue reached US$5.29 billion, operating cash flow totaled US$1.70 billion, and net earnings rose 50 percent year-over-year to US$1.22 billion.
The company also repurchased US$1.2 billion of its shares during the quarter.
Broader Sector Timing and Policy Support
The Trump administration directive directs federal agencies to accelerate permitting on federal lands and coordinate funding for domestic projects.
Forbes noted in April 2026 that several advanced-stage assets, including expansions at Castle Mountain in California and Spring Valley in Nevada, could benefit from the new policy environment.
Key Investor Takeaways
- US gold output has fallen 32 percent since 2010, while China maintains the top global position at 384 tonnes in 2025.
- Executive Order 14241 targets faster permitting and capital deployment for domestic minerals, including gold.
- Barrick controls 61.5 percent of Nevada Gold Mines, the largest integrated gold complex in the United States.
- The August 2026 agreement with Newmont expands the Nevada Gold Mines joint venture into a nearly 100-million-ounce gold complex in Nevada.
- Q2 2026 results showed gold production rising 11 percent from Q1, while net earnings increased 50 percent year over year, supporting ongoing shareholder returns.
- Analyst price targets range from US$41 to US$86, reflecting varied views on valuation and growth prospects.
Analyst Views and Valuation Context
Recent coverage includes a Canaccord Buy rating with a US$52.69 target, an RBC Buy at US$49, and a J.P. Morgan Buy at US$52.
Barclays maintains a Hold with a US$42 target, while Bernstein carries a Buy at US$86.
Streetwise Ownership Overview*
Barrick Mining Corp. (ABX:TSX; B:NYSE)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 05/09/25 | GOLD:NYSE | 1 | B:NYSE | 1 |
| 01/02/19 | ABX:NYSE | 1 | GOLD:NYSE | 1 |
Ownership and Share Structure1
Barrick Mining Corp. has a market cap of US$73.85 billion and 1.65 billion shares outstanding.
Institutions hold 67.20 percent, insiders own 0.37 percent, and retail investors hold the remaining 32.43 percent.
Common Questions from Investors
Q: What is the current scale of Barrick's US gold operations?
A: Barrick operates Nevada Gold Mines, which produced the majority of US gold in 2025 and is expanding toward a nearly 100-million-ounce gold complex.
Q: How does the recent Newmont agreement affect Barrick shareholders?
A: The deal adds substantial resources, resolves joint-venture disputes, and includes a US$1.95 billion payment to Barrick.
Q: Why are US policymakers focused on domestic gold production?
A: The March 2025 executive order aims to shorten permitting timelines and attract investment to reduce reliance on foreign mineral supply chains.
Q: Which Chinese company leads gold output growth?
A: Zijin Mining Group Co. Ltd. (601899:SHA) reported 2.89 million ounces of mined gold in 2025, up 23 percent, with further production growth projected through 2028.
The contrast between rising Chinese output and declining US production highlights both risk and opportunity. Barrick's dominant Nevada position and the 2026 expansion agreement place the company at the center of efforts to rebuild domestic supply.
Important Disclosures:
- Jordan Nova wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
