Barrick Gold Eyes Late-2024 IPO for North American Mining Assets

The decision follows a comprehensive financial review by Barrick’s board, which determined that a separate listing is the most effective way to maximize the portfolio's market worth. By carving out these assets, management aims to address a trend where the company trades at lower multiples than its primary competitors. Analysts estimate the North American portfolio accounts for roughly 60% of Barrick’s total valuation and more than half of its current gold production.

A High-Yield Portfolio

The proposed entity will center on several high-performing assets, primarily located in the United States and the Caribbean:

• The Nevada Gold Mines joint venture, a massive operation majority-owned by Barrick in partnership with Newmont.
• The Fourmile discovery in Nevada, which remains 100% owned by Barrick.
• The Pueblo Viejo mine in the Dominican Republic, where Newmont holds a minority stake.

Following the restructuring, the parent company will pivot its focus toward its expansive international footprint, which spans 18 countries across five continents. This remaining portfolio includes a significant concentration of copper projects and six of the world’s largest gold mines. While the board has authorized management to begin the listing process, the company noted that the IPO remains subject to favorable market conditions and final regulatory clearances.