Overview
- Four sources told Reuters the board is considering separating North American operations from a second company holding Africa and Asia assets, with potential asset sales on the table.
- Options under review include selling African mines and Pakistan’s Reko Diq project once financing is in place, according to the sources.
- Talks remain ongoing with no decisions made, and Interim CEO Mark Hill declined to discuss the matter, saying the company does not comment on speculation.
- Any move to exit Mali would follow resolution of a dispute after Barrick lost control of Loulo-Gounkoto, recorded a roughly $1 billion write-off, saw 3 metric tons of gold seized, and has four employees still detained.
- Barrick shares closed up about 3% in Toronto after the report, as investors highlight the valuation appeal of a North America-heavy portfolio centered on Nevada’s Fourmile, where test production is targeted for 2029.