Newmont Corp (ASX: NEM) surged 5.01% during intraday trading on Tuesday, as investors reacted positively to the resolution of outstanding disputes with joint venture partner Barrick Mining over their Nevada Gold Mines (NGM) operations.

The rally came after Newmont announced it had agreed to settle all outstanding disagreements with Barrick by contributing previously excluded assets to the NGM joint venture. Under the terms of the deal, Barrick's Fourmile project and Newmont's Fiberline and Mike developments will be folded into the partnership, with Newmont paying Barrick $1.95 billion for the contributed assets. The agreement also includes Newmont's approval of Barrick's proposed initial public offering of its North American gold assets.

The settlement includes a modernized joint venture agreement aimed at strengthening governance and enhancing safety and performance at NGM. Both companies have expressed a commitment to maximizing the long-term value of the joint venture, removing a key source of uncertainty that had weighed on the partnership.