Barrick Mining (NYSE:B) says the IPO of its North American gold assets could slip into January 2027, although it continues to target completion by year-end.
CEO Mark Hill outlined the timing during the Mining Forum Americas in Colorado, US, on 29 September. He attributed the possible delay to outstanding formalities.
“Maybe it will slide into January, but there won’t be a significant delay to that,” Hill says.
The proposed IPO would sell a minority interest in a new company holding Barrick’s North American gold assets. Barrick previously indicated that 10–15% of the business could be offered, with the miner retaining control.
The portfolio is expected to include Barrick’s 61.5% interest and operatorship of Nevada Gold Mines, its interest in the Pueblo Viejo Gold Mine in the Dominican Republic, and related North American exploration properties.
Barrick plans a primary listing in the New York Stock Exchange and a secondary listing in the Toronto Stock Exchange. The offering remains subject to market conditions, regulatory approvals, and exchange requirements.
Meanwhile, Newmont (NYSE:NEM), which owns the remaining 38.5% of Nevada Gold Mines, consented to the proposed IPO in August under an agreement resolving disputes between the joint venture partners.
The agreement also provides for Barrick’s Fourmile Project and Newmont’s Mike and Fiberline properties to be contributed to Nevada Gold Mines.
Barrick Mining is a Canadian gold and copper producer with operations and projects across several regions.
Write to France Pinzon at Mining.com.au
Main image: Barrick Mining
