Barrick announces executive appointments and advances IPO of North American Gold Assets
Barrick Mining Corporation announces several executive appointments and provided an update regarding the planned initial public offering (the “IPO”) of a minority stake of a new company that will hold its North American Gold Assets (“North American Barrick”).
Advantages of North American Barrick will include:
Dedicated and Experienced Management Team: An executive leadership team dedicated exclusively to North American Barrick has been appointed. 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. 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
- Amanda Steensen, Vice President – Sustainability
Mark Hill said: “With our renewed focus and discipline, Barrick has been delivering extremely positive results in North America. The IPO is expected to accelerate this momentum by giving North American Barrick its own dedicated management team and highlighting the attractiveness of these gold assets in one of the premier gold districts in the world.”
Tier One North America-Focused Portfolio: 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 (“NGM”), and the Pueblo Viejo mine in the Dominican Republic. North American Barrick’s assets produced approximately 2.0Moz of gold production in 2025 attributable to Barrick’s interests.
Growth Profile Driven by Fourmile: North American Barrick will also include Barrick’s wholly-owned Fourmile gold project, located adjacent to NGM. 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 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 is on track to complete the IPO by the end of 2026, subject to market and other conditions and necessary approvals.
The anticipated 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.
