Barrick Mining said it is working to prepare for an initial public offering (IPO) for its North American gold assets and has also named interim head Mark Hill as its permanent chief executive and president.
According to a Reuters report, the miner is planning to spin off those assets into a publicly listed company at some point this year. Its board approved the IPO prior to year-end.
Taking the lead on the transition is new chief executive and president Mark Hill, who has been permanently seated into the position vacated by former executive Mark Bristow last year.
While there are not many public details yet about the division of assets, the Reuters report said Barrick is planning to retain a controlling interest in the North American assets, or about 60% of the 32.6 million troy ounces it produced last year.
No information has been decided on the new company’s leadership, headquarters location or the impact on Newmont, which has a stake in Barrick’s core operations. However, Hill reportedly told investors recently on a call that the IPO would likely include a 10% to 15% share of Barrick’s interests.
The new company will include Nevada Gold Mines, its wholly-owned Fourmile discovery in Nevada, and the Pueblo Viejo mine in the Dominican Republic. Newmont has a 38.5% interest in the Nevada operation, which is covered by a venture agreement that includes disclosure requirements and preferential purchase rights, and a 40% stake in Pueblo Viejo, the report stated.
Barrick’s portfolio currently includes 17 countries and five continents. Following the sale of assets, Reuters said, and including its last producing mine in Canada last year, Barrick expects to produce 2.9 million to 3.25 million ounces of gold this year, as much as 3.65 million ounces in 2027 and up to 3.75 million the following year. At the same time, copper output is projected to come in at between 190,000 and 220,000 metric tons this year, after rising 13% in 2025 to 220,000.
Source: Barrick aims for IPO of North American gold assets this year