Barrick Names Four Gold Assets for American Barrick Unit, Announces Listing Plan
Key Facts
Barrick Mining said the new public company that will house its North American gold assets will be called American Barrick Gold Corporation. In an announcement via GlobeNewswire, the company said American Barrick had filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering. The announcement is part of a plan to separate the gold assets and list them in an independent entity. Barrick had previously told the SEC that it planned to file the registration statement during November, with the offering expected to be completed in the fourth quarter of 2026 or early 2027. The timing of the IPO remains subject to market conditions and completion of regulatory procedures.
The assets proposed for transfer comprise four Tier One gold assets, according to Barrick's SEC filing. The list includes the Carlin, Cortez and Turquoise Ridge mines within the Nevada Gold Mines complex, as well as the Pueblo Viejo mine in the Dominican Republic. The filing also names the Fourmile, Mike and Fiberline projects among the project-related asset arrangements. This group gives the new entity an operating base spanning producing mines and development projects. Barrick is placing these assets at the center of its plan to separate its North American gold business.
The plan covers more than the assets alone; the agreement with Newmont provides for Barrick to contribute the Fourmile project and Newmont to contribute the Mike and Fiberline projects to the Nevada Gold Mines joint venture. The agreement also calls for an additional cash payment of $1.95 billion from Newmont to Barrick. Barrick announced the agreement on 10 August 2026, as part of an expansion of the joint venture and settlement of arrangements between the two companies. In its latest announcement, Barrick said the net proceeds from the offering would be distributed to it and that it expects to return those proceeds to its shareholders. The company has yet to specify the size of the stake it will offer or the price it will seek from investors.
The move follows third-quarter results that showed Barrick's revenue rising 22% year on year to $5.07 billion, while net earnings increased 1% to $1.32 billion. Gold production was 816,000 ounces, up 3% from the second quarter and 6% year on year after excluding divested assets. Adjusted earnings per share also rose 41% to $0.82. The company reaffirmed its 2026 production guidance at 2.90–3.25 million ounces of gold and 190,000–220,000 tonnes of copper. Net cash stood at $0.9 billion at quarter-end, compared with $0.3 billion in the third quarter of 2025.
Meanwhile, all-in sustaining costs for gold production rose to $1,911 an ounce in the third quarter, from $1,538 in the same period of 2025. Barrick attributed the increase to pressure from fuel and consumables and higher local currencies, alongside increased sustaining capital expenditure. The company returned $1.04 billion to shareholders during the quarter, including $761 million in share buybacks and a quarterly dividend of $0.175 per share. Barrick shares, ticker B, closed at $42.27 on 9 November 2026. Confirmed data on the share's trading range during that session are not available here.
American Barrick plans to apply to list its shares on the New York Stock Exchange under the ticker ABGC, subject to meeting listing requirements and completing SEC registration procedures. Barrick's filing said Mark Hill would serve as chief executive of the new company. The number of shares on offer and the offering price range have not yet been set, while the IPO remains subject to market conditions and completion of the SEC's review. Barrick had previously expected the offering to be completed in the fourth quarter of 2026 or early 2027. Details and timing of the offering remain subject to the company's registration documents and subsequent procedures.