Barrick Gold Corporation has launched a strategic review to explore the possibility of an initial public offering (IPO) for a newly formed subsidiary, provisionally named “NewCo,” which would hold a premier portfolio of its North American gold assets.
Authorized by the Board of Directors, the plan involves listing NewCo by early 2026 through an IPO of a small minority interest.
The targeted portfolio is set to be anchored by Barrick’s cornerstone joint venture interests in Nevada Gold Mines and the Pueblo Viejo mine, as well as its wholly-owned, high-potential Fourmile discovery in Nevada. This move is aimed at unlocking and assessing a significant value creation opportunity for the company.
Following its IPO, Barrick will retain a controlling majority stake in NewCo and continue to manage its global portfolio of gold and copper assets.
Mark Hill, Barrick’s Chief Operating Officer and Interim President & CEO, highlighted the quality of the assets involved:
“Our gold operations in Nevada and the Dominican Republic are world-class, located in top-tier mining jurisdictions. By including the 100%-owned Fourmile project in Nevada, one of this century’s most significant gold discoveries, NewCo would be positioned in a league of its own.”
The Mining Nexus: How Resource Extraction Powers the Global Economy #FrizeMedia https://buff.ly/Iaoj1dc
No comments:
Post a Comment