A public listing of Barrick Mining’s (TSX: ABX) North American gold business may slip into 2027, delaying a transaction the company had once targeted for completion this year, according to a person familiar with the matter.
That timing marks a reversal from what executives had signaled only weeks earlier. Chief Executive Officer Mark Hill assured analysts on the company’s August 10 earnings call that the initial public offering for the North American assets was on course to wrap up by year end. The timing and other details of the offering remain subject to change while preparations continue, the person said, requesting anonymity because the matter is private.
A Barrick spokesperson declined to comment on the matter to media.
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Once the unit is separated, Hill is slated to run the North American business, and Sebastiaan Bock will step in as CEO of Barrick’s remaining operations.
Goldman Sachs Group Inc. is advising on the transaction, Bloomberg News has reported, and Barrick is also courting additional banks to join the potential offering.
Not everyone backs the plan. Chairman John Thornton’s push to carve out and list the North American mines has drawn resistance from several major shareholders, and one investor has publicly urged the former Goldman Sachs banker to step down. Thornton’s interest in a separation dates back to at least 2024.
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.
