Barrick Advancing IPO of North American Gold Assets, Announcing Executive Appointments
Barrick Mining Corporation (NYSE:B and ABX.TO) has made several executive appointments and provided an update regarding the planned initial public offering of a minority stake of a new company that will hold its North American Gold Assets, the company said Tuesday.An executive leadership team dedicated exclusively to North American Barrick has been appointed. the company said. "They have been working successfully together for many months. The team consists of experienced and proven Barrick veterans with deep expertise in operations, exploration, and development," it added.The team reports to Mark Hill, Barrick President and CEO, and is comprised of: Tim Cribb, Chief Operating Officer; Wessel Hamman, Chief Financial Officer; Joe Heckendorn, Chief Legal Officer & Corporate Secretary; Megan Tibbals, Chief Technical Officer; Richard Barley, Chief HR Officer; Javier Ortuzar, Vice President, Exploration; and Amanda Steensen, Vice President, Sustainability.Barrick said North American Barrick will include a portfolio of four tier one gold assets located in premier mining jurisdictions in North America: Carlin, Cortez, and Turquoise Ridge in the Nevada Gold Mines complex and the Pueblo Viejo mine in the Dominican Republic. North American Barrick's assets produced approximately 2.0Moz of gold in 2025 attributable to Barrick's interests.North American Barrick will also include Barrick's wholly-owned Fourmile gold project, located adjacent to NGM. It said: "Barrick believes Fourmile is one of the most significant gold discoveries of this century and will be a significant high-grade and low-cost growth opportunity in North American Barrick's portfolio. It is anticipated that Fourmile will eventually be contributed to the NGM joint venture, in accordance with the NGM Joint Venture Agreement."Barrick said it has identified what it believes to be the optimal structure for the IPO of its North American assets. North American Barrick is expected to have its primary listing in New York, with a secondary listing in Toronto, subject to customary SEC registration and Canadian prospectus qualification processes. Barrick added it is on track to complete the IPO by the end of 2026, subject to market and other conditions and necessary approvals.The company anticipated that the IPO will abide by all applicable commitments in Barrick's Joint Venture Agreements. "Barrick's leaders have been meeting with their counterparts at Newmont to discuss improving performance at NGM, the proposed IPO, and the timeline of the vend-in on Fourmile. While Barrick is free to pursue the IPO unilaterally, it is working in close collaboration with its Joint Venture partner to ensure value is created and maximized for all."Shares in Barrick were down 1.2% in Canada yesterday. It lost 1% in US trading yesterday and was at last look down 1.6% in US premarket.
