By Tanay Dhumal and Divya Rajagopal
Feb 5 (Reuters) – Barrick Mining said on Thursday it would move forward with preparations for an initial public offering of its North American gold assets and named interim head Mark Hill as its chief executive and president.
U.S.-listed shares of the company were up 2% in premarket trading.
The IPO is one of the most anticipated events in the mining industry, as analysts expect the valuation of the group’s North American assets to be around $42 billion.
Barrick in September named veteran executive Mark Hill as interim president and CEO following the sudden resignation of Mark Bristow.
The IPO, which Barrick said should be completed by late 2026, would house Barrick’s interests in Nevada Gold Mines, Pueblo Viejo in Dominican Republic and its wholly owned Fourmile project in Nevada.
Barrick plans to retain a controlling stake in the new entity following the listing.
Separately, the company beat Wall Street estimates for fourth-quarter profit on higher gold prices.
The gold miner reported an adjusted profit of $1.04 per share for the three months ended December 31, compared with the average analyst estimate of 90 cents, according to data compiled by LSEG.
The miner also said that one person died after being injured at its mine in Bulyanhulu in Tanzania in October and another person died in December after being injured in June at its Kibali mine in Democratic Republic of Congo, without giving more details. Barrick said it conducted full investigations into the deaths and has taken action to bolster safety.
That brought the number of fatalities at Barrick mines to three in 2025 including a previously reported fatality at Nevada Gold Mines in September.
The company reported revenue of $6 billion for the fourth quarter, up 65% from a year earlier on soaring gold prices and record production. It also bought back shares worth $500 million during the quarter, taking the total share purchase to $1.50 billion in 2025. Investors received a quarterly dividend of $0.42 per share.
For 2026, Barrick has guided gold production of 2.90–3.25 million ounces, similar to its 2025 production numbers. The company guided for 2026 All in Sustaining Cost, (AISC) of $1,760–$1,950 with an assumption of the gold price at $4,500 per ounce.
(Reporting by Tanay Dhumal in Bengaluru, Divya Rajagopal in Toronto; Editing by Sriraj Kalluvila and Susan Fenton)
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