March 11 (Reuters) - Barrick Gold Corp ABX.TO has withdrawn its proposal to buy Newmont Mining Corp (NYSE:NEM) NEM.N , the companies said on Monday, ending a hostile takeover effort that sought to unite the world's two biggest gold producers.
Barrick and Newmont have instead signed an agreement to create a joint venture for their mining operations in Nevada, the companies said.
Barrick last month proposed to buy Newmont for about $18 billion.