Overview
- Elliott is urging Barrick’s board to split the miner into two companies, carving out a lower-risk Americas business from assets in Africa, the Middle East and Asia, according to multiple reports.
- Barrick shares climbed on the reports, rising more than 4% in pre-market trading on Tuesday.
- The push comes after the abrupt September departure of CEO Mark Bristow as interim chief Mark Hill emphasizes a North America growth focus that includes the Fourmile discovery in Nevada.
- Barrick has faced setbacks in higher-risk jurisdictions, with reports citing a loss of control and a $1 billion write-off tied to Mali alongside ongoing exposure in Pakistan and other regions.
- Analysts say a breakup could help close a valuation gap and may catalyze wider gold-sector consolidation, though the company has not announced any decisions.