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    Barrick US assets IPO and CEO move: project and portfolio lens for mine planners

    February 5, 2026|

    Reviewed by Tom Sullivan

    Barrick US assets IPO and CEO move: project and portfolio lens for mine planners

    First reported on MINING.com

    30 Second Briefing

    Barrick Mining plans to spin off its North American gold assets, including its stake in Nevada Gold Mines, Pueblo Viejo and the 4.6 million indicated tonnes at 17.59 g/t Au Fourmile deposit, into a New York–listed “NewCo” by late 2026 while retaining a significant majority interest. Interim chief Mark Hill, a 20-year Barrick veteran involved in the original Fourmile exploration decision and the Loulo-Gounkoto permit settlement in Mali, has been confirmed as CEO. Barrick has also launched a full review of the $7.7 billion Reko Diq copper-gold project in Pakistan after security incidents, despite reporting record Q4 net income of $2.4 billion and raising its dividend to US$0.42 per share.

    Technical Brief

    • Reko Diq’s full-project review covers all aspects of the US$7.7 billion copper–gold development after security incidents.
    • Fourth-quarter net income reached US$2.4 billion, or US$1.43 per share, more than doubling year-on-year.
    • Adjusted Q4 earnings of US$1.04 per share exceeded analyst consensus, strengthening balance-sheet capacity for capex decisions.

    Our Take

    Spinning out North American gold assets such as Nevada Gold Mines into a separate vehicle would leave Barrick’s remaining portfolio more heavily weighted to large copper‑gold growth projects like the US$7.7‑billion Reko Diq, echoing its recent copper‑focused moves at Lumwana in Zambia covered elsewhere in our database.

    With North American properties contributing over half of Barrick’s gold output, an IPO by late 2026 would likely create a sizeable new pure‑play gold producer at a time when our coverage shows other majors like Newmont are grappling with heightened price volatility in gold and copper.

    The Mali settlement around Loulo‑Gounkoto, including a 10‑year permit renewal and release of 3 tonnes of seized gold for a US$253‑million payment, reduces political risk in West Africa just as Barrick is signalling a potential structural separation of its lower‑risk North American gold business from more complex jurisdictions.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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