Barrick Mining’s Board of Directors has authorised the company’s management team to explore an initial public offering (IPO) for a new subsidiary, NewCo, which will hold the mining company’s premier North American gold assets.
In case the IPO is pursued, NewCo would be linked to Barrick’s joint venture interests in Nevada Gold Mines and Pueblo Viejo, along with its completely owned Fourmile gold discovery in Nevada.
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The plan envisions listing NewCo through an IPO of a small minority stake.
After the IPO, Barrick would retain a significant controlling majority interest in NewCo, while continuing to manage and enhance the value of its other global gold and copper assets.
Barrick stated that this potential action aligns with the board’s ongoing operational review and commitment to maximising value for shareholders across its portfolio, with a focus on North America.
Barrick Mining group chief operating officer, interim president and CEO Mark Hill 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.
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By GlobalData“Adding our 100%-owned Fourmile project in Nevada, one of this century’s most significant gold discoveries, could put NewCo in a league of its own.”
Hill further added: “As we recently noted at our Q3 [third-quarter] results, we are singularly focused on driving improved performance and shareholder value with the right teams now in place to deliver on our commitments.
“While we explore an IPO of our North American assets that could give new and existing shareholders more optionality around jurisdiction in a pure gold company with growth, we will not waiver from our commitment to operate safely, perform to our targets and deliver our growth projects.”
The board has authorised management to explore this potential value creation measure through early next year.
Barrick stated that it will update the market on its progress during its full year 2025 results, which will be released in February next year.
The company also stated that any decision to proceed with an IPO, as well as its timing, will depend on approval from the Board of Directors, fulfilment of customary requirements and approvals, and prevailing market conditions.
Last month, Barrick Mining completed the sale of the Hemlo Gold Mine in Canada to Carcetti Capital, which intends to rename the asset Hemlo Mining Corporation.
During the same month, Barrick Mining signed an agreement with the Government of the Republic of Mali to resolve all disputes associated with the Loulo and Gounkoto mines, marking a significant development in the Barrick-Mali mining dispute resolution.
Reuters recently reported that Elliott Investment Management has acquired a substantial stake in Barrick Mining.
