Barrick Mining said Monday it plans to file this month for an initial public offering of its North American gold business, with completion possible in the fourth quarter or early 2027, subject to market conditions, approvals and securities registration. The proposed company, called North American Barrick, would hold interests in Nevada Gold Mines’ Carlin, Cortez and Turquoise Ridge operations and in Pueblo Viejo in the Dominican Republic, and Barrick chief executive Mark Hill would also lead it.
The timetable follows an August agreement under which Newmont contributes its Mike and Fiberline properties and Barrick its Fourmile project to their Nevada Gold Mines joint venture, with Newmont paying Barrick about $2 billion and the venture’s 61.5 percent Barrick, 38.5 percent Newmont split preserved. Barrick reported third-quarter gold output of 816,000 ounces, net income of $1.3 billion on revenue up 22 percent to $5.1 billion, and adjusted earnings of 82 cents a share, above the 79 cent consensus cited by TD Securities, while reaffirming full-year gold production guidance of 2.9 million to 3.25 million ounces.