• Barrick moves ahead with an IPO for a new North America-focused unit
• Company says it will maintain and grow its other gold and copper assets
• Plans for African and Asian operations remain unclear as options are reviewed

Barrick Mining said on December 1, that it has secured board approval to create and list a new subsidiary focused on its North American operations.

While the plan confirms earlier reports of a possible split in the company’s portfolio, the Canadian group said it intends to carry out the reorganization while preserving and strengthening its other top-tier gold and copper assets worldwide.

Mark Hill, Barrick’s interim chief executive officer, said the company is focused on improving performance and value for shareholders. He noted that an IPO of the North American assets could give the growing gold company greater legal flexibility, but added that Barrick remains committed to the safety of its operations, to meeting its targets, and to advancing its growth projects. Hill took over after the resignation of South African executive Mark Bristow.

The new entity, currently called NewCo, is expected to include the Pueblo Viejo project in the Dominican Republic and Barrick’s stakes in the Nevada Gold Mines joint venture with Newmont. It will also hold the Fourmile deposit in Nevada, which is fully owned by Barrick. Through the IPO, the company plans to sell a minority stake while retaining majority ownership.

Despite its assurances, the company has offered few details about the future of its other assets. Reuters reported that Barrick is considering creating a second entity to group its operations in Africa and Asia. The company has a major presence in Africa, where it operates the Loulo-Gounkoto mine in Mali, the Kibali mine in the Democratic Republic of Congo, and the Bulyanhulu and North Mara mines in Tanzania. Its African portfolio also includes the Lumwana copper mine in Zambia.

As the market awaits more clarity, Barrick has recently focused on resolving a dispute with the Malian government. The company reached an agreement to regain operational control of the Loulo-Gounkoto mine, which accounted for about 15 % of its gold output in 2024. Further information on NewCo’s planned listing is expected by February 2026.

Aurel Sèdjro Houenou