Barick Mining Explores IPO For North American Gold Assets

Barrick Mining’s Board of Directors has authorized 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.

The potential IPO would involve a minority stake in NewCo, which would be linked to Barrick’s joint venture interests in Nevada Gold Mines and Pueblo Viejo, as well as its wholly-owned Fourmile gold discovery in Nevada. Barrick would retain a significant controlling majority interest in NewCo and continue to manage its other global gold and copper assets.

“We are singularly focused on driving improved performance and shareholder value with the right teams now in place to deliver on our commitments,” said Mark Hill, Barrick Mining’s interim president and CEO. “While we explore an IPO of our North American assets, we will not waiver from our commitment to operate safely, perform to our targets, and deliver our growth projects.”