Overview
- Elliott Management has taken a significant position in Barrick, reported as roughly $1 billion by The Globe and Mail or at least $700 million by Benzinga, placing it among the miner’s top ten shareholders.
- The fund is urging a separation of lower‑risk operations in the Americas from higher‑risk mines in Africa, the Middle East and Asia, according to multiple reports.
- Barrick shares rose more than 4% in pre‑market trading on Tuesday after news of Elliott’s stake, Benzinga reported.
- Interim CEO Mark Hill has said there is a "big opportunity" in concentrating on the North American business, signaling receptivity to a refocus on the region.
- The Globe and Mail noted that Reuters recently reported the board has been weighing breakup options, as Elliott brings an activist record that includes a management shakeup at Suncor and engagement with Kinross.