Barrick Mining Plans to Pursue IPO of North American Gold Assets

MT Newswires Live04-09

Barrick Mining (B) is planning to pursue an initial public offering of its North American gold assets, Chairman John Thornton said in a shareholder letter released late Wednesday.

The North American assets comprise its joint venture interests in Nevada gold mines and Pueblo Viejo, and its wholly-owned Fourmile discovery, the chairman added in the letter.

Thornton said that Barrick intends to complete the IPO by the end of this year and will retain a "significant" controlling majority stake in North American Barrick.

The gold and copper producer plans to reduce its exposure to "today's higher-risk jurisdictions" for its remaining portfolio, according to the chairman.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment