Barrick Mining (B) is proceeding with a plan to spinoff its North American gold assets into a separate publicly traded company.
The Toronto-based mining company says holding an initial public offering (IPO) of its North American gold business will maximize value for shareholders.
The assets to be included in the new unnamed company will include its joint venture interests in Nevada Gold Mines and Pueblo Viejo, and its wholly owned Fourmile gold discovery in Nevada.
Barrick plans to retain a controlling interest in the new gold mining company.
Mark Hill, the current interim Chief Executive Officer (CEO) of Barrick Mining, will serve as president and CEO of the new publicly traded subsidiary.
Hill has been interim CEO of Barrick since last September following the departure of former leader Mark Bristow.
Barrick Mining announced the North American gold spinoff along with its latest financial results.
Barrick reported that its fourth-quarter 2025 profit more than doubled to $1.43 U.S. a share from $0.57 U.S. a year earlier.
The company’s revenue also rose sharply to $6 billion U.S. from $3.6 billion U.S. a year ago. Barrick has benefitted from a surge in gold’s price, which recently topped $5,500 U.S. an ounce.
B stock has risen 176% in the last 12 months to trade at $47.36 U.S. per share.
