By Robb M. Stewart and Adriano Marchese

Barrick Mining plans to list its prized North American gold assets in New York as part of an initial public offering set to be completed before the end of the year.

The mining company said Tuesday it has identified what it believes is the optimal structure for a separate listing of the assets, including a primary listing in New York and a secondary listing in Toronto.

Not disclosed are details such as where the company that will house the North American operations will be based and domiciled, and the percentage of the assets that Barrick plans to float beyond what the company affirmed will be a minority interest.

Barrick has over recent months assembled a team of veteran insiders to lead the North American business, though it hasn't named a chief executive. The ringfenced team reports to Barrick CEO and President Mark Hill, who has been running the Toronto-based company since the sudden departure of longtime chief Mark Bristow last September.

An IPO is expected to accelerate momentum for operations that have been delivering positive results by giving North American Barrick a dedicated management team and highlighting the attractiveness of the assets, Hill said.

Barrick last year moved Tim Cribb to chief operating officer for North America from a role overseeing the company's Riko Diq copper and gold project in Pakistan, where development more recently has slowed following an escalation of security issues in the country and the region. Wessel Hamman in December became chief financial officer for North America, after more than four years as finance chief for Barrick's Latin America and Asia Pacific segment. Among other managers for the business being spun off, Megan Tibbals has taken on the position of chief technical officer and Javier Ortuzar was named vice president of exploration.

Barrick's board in February gave management the go ahead to pursue an IPO of the prized gold operations, which will be anchored by the majority owned Nevada Gold Mines operation that spans a number of underground and open‑pit mines, mills and other facilities. It also includes the Pueblo Viejo mine in the Dominican Republic, and the promising full-owned Fourmile project in Nevada that the company describes as one of the most significant gold discoveries this century. The assets together produced about 2 million troy ounces for Barrick last year, a little over 60% of total output.

Analysts expect a roughly 10% to 15% stake in Barrick's North American assets will be offered to existing and new shareholders. A main listing in New York with a secondary Toronto listing should address Canadian investor concerns around listing and tax implications, TD Securities analyst Steven Green said.

Barrick said the proposed IPO would abide by commitments made in joint venture agreements with Newmont, which owns almost 39% of Nevada Gold Mines and 40% of Pueblo Viejo. The Canadian company, which is listed in Toronto and on the New York Stock Exchange, said its leaders have been meeting with counterparts at Newmont to discuss matters including the IPO and improving performance in Nevada.

Barrick said that although it is free to pursue an IPO unilaterally, it is working in close collaboration with Newmont. Newmont has previously said its main concern is the operation and management of Nevada Gold Mines, which had struggled and seen asset value degraded in recent years.

Barrick has a portfolio of gold and copper operations and projects in 17 countries, and sits as the largest producer of the precious metal in the U.S. The company last year changed its name from Barrick Gold to emphasis a growing importance of copper in its portfolio, leaning on developments such as Reko Diq and the construction of a "super pit" at its Lumwana copper mine in Zambia.

Write to Robb M. Stewart at robb.stewart@wsj.com and Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 28, 2026 11:26 ET (15:26 GMT)

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