Gold Quarry (Au)


LOCATION: Nevada, United States
OPERATOR: Nevada Gold Mines Llc

The Gold Quarry operation is part of the Nevada Gold Mines Carlin operations in north-central Nevada. It is a large open-pit mine that has been in production since 1985 supplying ore as part of an integrated mining and processing complex. Different mines supply variable ore types and grades to a variety of processing facilities situated throughout the complex. Nevada Gold Mines has significant milling and roasting infrastructure immediately east of the Gold Quarry pit. On July 1, 2019, Barrick (61.5%) and Newmont (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, Barrick reports Gold Quarry under its Carlin operations category and Newmont reports Gold Quarry under its Nevada Gold Mines category.

Franco-Nevada’s royalty interest covers only a portion of the Gold Quarry property, as shown in the schematic. The Gold Quarry royalty is a 7.29% NSR based on production with a minimum payment obligation. The different annual minimum royalty payments are tied to Mineral Reserves and stockpiles attributed to the Gold Quarry royalty property. Gold Quarry delivered year-over-year total open-pit resource growth at consistent grades. Notably at Gold Quarry, the geological model was further optimized based on process routing options only made possible with the formation of Nevada Gold Mines as the majority of ore is expected to be fed to the Goldstrike roaster. In 2020, Franco-Nevada’s prepaid ounces delivered by Gold Quarry exceeded the Gold Quarry known Mineral Reserves. Going forward, Franco-Nevada expects its royalty from Gold Quarry to decrease to approximately 5,500 GEOs in 2021, and to 1,350 per annum thereafter.


  • Adjacent to Nevada Gold Mines’ milling and roasting infrastructure
  • Registered on private lands
  • Annual minimum payment obligations based on recovered Mineral Reserves

2020 2019 2018
Revenue to Franco-Nevada ($ million) $ 10.7 $ 15.6 $ 14.4