BENGALURU: Barrick Mining said on Monday it was exploring an initial public offering of a subsidiary that would hold its North American gold assets amid a record rally in bullion prices.
US-listed shares of the Canadian miner rose 3.7 percent in premarket trading.
A split would reverse Barrick’s 2019 merger with Randgold Resources, and comes as investors pressure the miner to use a historic rally in gold prices to boost returns, while shedding riskier assets in Africa, Papa New Guinea and Pakistan’s Reko Diq.
Gold has hit record highs this year on expectations of lower interest rates and safe-haven flows.
The new entity would comprise of Barrick’s joint venture interests in Nevada Gold Mines (NGM) and Pueblo Viejo in Dominican Republic, and the Fourmile gold discovery.
