By Robb M. Stewart

Barrick Mining is content straddling the Canada-U.S. border, the company's chief executive said, though there may be opportunities under the Trump administration to rejigger the structure of the miner, which has long considered the possibility of a move south.

"Cleaning up the structure to make sure the tax returns are efficient, that's always been on our list, as has being part one of the big indexes in the U.S.," President and Chief Executive Mark Bristow said.

"It's been part of board discussions for a long time," he added.

Bristow said the situation today with the Trump administration, which has emphasized an "American first" approach to global relations and is seeking to draw manufacturing to its shores, could mean there are new opportunities to reorganize Barrick more efficiently for the benefit of shareholders and for a cleaner corporate structure.

As it stands, almost all of the Toronto company's portfolio of assets is directly owned through a Canadian structure. Yet Barrick has half of its assets in the U.S., and is among the biggest miners there. And the company this week officially dropped the name Barrick Gold in favor of the broader Barrick Mining to emphasize the shift it has made toward growing its copper operations alongside its scale as a gold producer.

Still, Bristow said redomiciling is challenging and costs money. And Barrick has always been recognized as both American and Canadian.

"I remember in Biden's era he and [former Prime Minister] Trudeau at their last meeting they discussed Barrick as a North American business they can both lay claim to," Bristow said. "We've always had an open conversation on both sides of the border. I think right now that's a good place to keep it at the moment."

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

May 07, 2025 14:10 ET (18:10 GMT)

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