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FERC clears Newmont Goldcorp's sale of interest in Nev. coal-fired plant

The Federal Energy Regulatory Commission on Aug. 14 approved Newmont Goldcorp Corp.'s proposed sale of a 61.5% stake in the 215-MW, coal-fired TS Power Plant in Eureka County, Nev., to a subsidiary of Barrick Gold Corp.

Under the transaction, Newmont USA Ltd. will transfer its ownership in Newmont Nevada Energy Investment LLC, which owns the facility, to a newly formed joint venture. Barrick Gold subsidiary Barrick JV Holdings will hold a 61.5% ownership interest in the joint venture.

The ownership interest will match Barrick's ownership of a joint venture it established earlier this year with Newmont involving the two companies' gold mining operations in Nevada.

A portion of the plant's output is sold to Sierra Pacific Power Co., doing business as NV Energy, a subsidiary of Berkshire Hathaway Energy. The remainder is used for gold mining operations. (FERC docket EC19-103)