Barrick Mining, one of the world’s largest gold producers, is reportedly considering splitting the company into two separate entities. One entity would focus on North American operations. The other would manage assets in Africa and Asia.
The proposed split could also include the sale of Barrick’s African mines. Pakistan’s Reko Diq project may be sold once necessary financing is arranged. In Mali, the company is working to resolve a dispute with the country’s military administration before any potential sale.
Barrick’s interim CEO, Mark Hill, has not confirmed these plans. He described the reports as speculation. Discussions are ongoing, and no final decision has been made.
If implemented, the split would reverse part of Barrick’s 2019 merger with Randgold. Assets added by former CEO Mark Bristow could be sold off. The restructuring would allow Barrick to focus on its North American operations, including the Fourmile gold project in Nevada.
Fourmile is a major undeveloped mine. Test production is scheduled to begin in 2029. Investors see high value in Nevada, which could strengthen the company’s overall market position. Following news of the potential split, Barrick shares rose 3% on the Toronto Stock Exchange.
Despite a 130% increase in shares this year, Barrick has underperformed compared to peers over the last five years. Investors have encouraged the company to better leverage the global rally in gold prices.
Barrick has faced challenges in politically unstable regions. Earlier this year, the company lost control of its Loulo-Gounkoto complex in Mali. A dispute over the country’s mining tax code led to a US$1 billion write-off. Four Barrick employees remain detained in Mali.
Investors have suggested separating North American assets from riskier overseas operations. Barrick runs its Nevada mines in partnership with Newmont Corp. The North American division would include stable mines such as Nevada and Fourmile. The African and Asian division would manage mines in Mali, Tanzania, Papua New Guinea, and the Democratic Republic of Congo.
