Barrick to evaluate IPO of North American assets

Barrick Mining Corp. [ABX-TSX, B-NYSE] said Monday the company’s board of directors has unanimously authorized the company’s management team to explore an initial public offering of a subsidiary that will hold Barrick’s premier North American gold assets.

If an IPO is pursued, NewCo would be anchored by Barrick’s joint venture interests in Nevada Gold Mines and Pueblo Viejo (Dominican Republic), as well as the company’s Fourmile gold discovery in Nevada. It is contemplated that NewCo would be listed through an IPO of a small minority interest. Following the IPO, Barrick would intend to retain a significant controlling majority interest in NewCo, while also retaining and driving value in the company’s other global gold and copper assets.

This action is complementary to the board’s ongoing operational review and focus on maximizing value across Barricks’s portfolio for shareholders, particularly in North America, the company said.

“Barrick’s gold operations in Nevada and the Dominican Republic are among the best in the world, located in some of the best gold mining jurisdictions,’’ said Mark Hill, Group Chief Operating Officer and Interim President and CEO. “Adding our 100%-owned Fourmile project in Nevada, one of the century’s most significant gold discoveries, could put NewCo in a league of its own,’’ he said.

The board has authorized management to explore this initiative through early 2026 and the company will update the market on its progress when full year 2025 results are released in February, 2026.

Barrick shares edged up 0.565% or 33 cents to $58.76 on Monday. The shares trade in a 52-week range of $58.58 and $21.73.

Barrick has gold and copper mining operations and projects in 13 countries in North and South America, Africa, Papua New Guinea and Saudi Arabia.

The portfolio includes half of the world’s top 10 tier one gold assets (defined as having a mine life of over 10 years, at least 500,000 ounces of annual production and in the bottom half of global total cash costs).

They include Cortez and Goldstrike in Nevada, Kibali in the Democratic Republic of Congo, Loulo-Gounkoto in Mali, and Pueblo Viejo in the Dominican Republic.

Previously known as Barrick Gold Corp., the company recently changed its name to Barrick Mining in a move to better reflect its current business and a mission to achieve sustainable and profitable gold and copper growth.  “Gold remains core to our foundation and we will continue to explore for and develop new mines, including the expansion of Pueblo Viejo, the exciting Fourmile gold project in Nevada and exemplified by the Reko Diq project (Pakistan) with its world class mix of both copper and gold,’’ Barrick has said.