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Bald Mountain (Au)


Location: Nevada, United States
Royalty: NSR/GR: 0.875-5%

The Bald Mountain mine lies within the Southern Ruby Mountains of northeastern Nevada, approximately 110 km southeast of Elko. Ore is sourced from multiple open-pits over an estimated 600 km2 property with processing at multiple conventional heap leaching facilities. Bald Mountain is the largest mine site by area in the U.S. It stretches 40 km north to south and 15 km east to west and is divided in three zones: North Zone, South Zone and JV Zone. At the end of 2015, Kinross Gold Corporation (“Kinross”) purchased from Barrick 100% of the North and South Zones while forming a 50/50 exploration joint venture partnership with Barrick on the JV Zone in between the North and South Zones. During 2018, Kinross acquired the remaining 50% portion of the JV area that it did not already own.

Franco-Nevada’s Bald Mountain royalties cover a significant portion of the Bald Mountain property. Royalty rates range from 0.875%-5% NSR/GR. A detailed map of the royalties is shown in the schematic.

Bald Mountain produced 187,961 ounces in 2019, down from the 284,646 ounces produced in 2018. Production was lower compared with 2018 mainly due to a slower than anticipated ramp-up at the Vantage Complex project and unfavorable weather conditions at the site early in the year. Production was significantly higher in Q4 2019, increasing by 95% compared with Q3 2019, as more ounces were recovered from the Vantage Complex.


  • Production achieved at the Vantage Complex in South Zone
  • Consolidated ownership of the JV Zone, now referred to as the Central Zone

2019 2018 2017
Revenue to Franco-Nevada ($ million) $ 8.9 $ 14.5 $ 6.4

Bald Mountain map