Barrick Mining (TSX: ABX) has appointed Sebastiaan Bock as chief executive officer for its rest of world operations, effective immediately, filling in the leadership chart as the gold miner prepares to split itself in two.
Bock will run gold and copper mines and projects outside North America, which consists of a portfolio spread across Africa, the Middle East, Latin America and Asia Pacific that produces more than two million gold equivalent ounces a year and is forecast to grow more than 20% over the next three years. He reports to Mark Hill, Barrick’s president and CEO, who has been tapped to lead the North American business the company intends to list by the end of 2026.
The promotion comes from within. Bock joined Barrick in January 2019 as senior vice-president and chief financial officer for Africa and the Middle East, then took over as chief operating officer for the region in July 2022. On his watch the company expanded Lumwana, set throughput records at Kibali, grew reserves at Loulo-Gounkoto and Bulyanhulu, and settled its long-running dispute with the government of Mali.
Sponsored · Altamira Gold Corp.
Chairman John Thornton framed the appointment around the unit’s relationships abroad. “Outside North America, our Rest of World portfolio has a distinct advantage: our ability to work with Chinese partners, including joint mine ownership and co-investment,” he said. “Seb’s experiences and accomplishments are tailor-made for Barrick to build on this unique advantage.”
RELATED: Newmont Clears Barrick’s Path to North American Spinout in $1.95 Billion Nevada Deal
Hill called Bock “a perfect example of Barrick’s deep and global bench.”
“I am excited to accept this new role quite simply because what Barrick does, matters,” Bock said.
The appointment lands a day after Barrick settled its disputes with Newmont over the Nevada Gold Mines joint venture in a deal that brings the company a $1.95 billion payment and Newmont’s sign-off on the North American listing, and posted second-quarter adjusted earnings of $0.82 a share.
Barrick Mining last traded at $57.03 on the TSX.
Information for this briefing was found via the sources and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
