Canada’s Barrick Mining is considering splitting into two separate companies, one focused on North America and another on Africa and Asia. The potential plan could include selling its Reko Diq mine in Pakistan. Sources say no decisions have been finalized yet, and talks are ongoing.
The proposed split would reverse Barrick’s 2019 merger with Randgold and could involve selling some African assets. In Mali, the company seeks to resolve a dispute with the military administration before selling local mines. Interim CEO Mark Hill has not confirmed any plans, emphasizing that the company does not comment on speculation.
Read more: Pakistan secures $6bn funding package for Reko Diq project
Investors have urged Barrick to better capitalize on rising gold prices and unlock value in its North American mines. The Fourmile gold project in Nevada is a major asset, though test production is not expected before 2029. Analysts upgraded Barrick shares following the news, and the stock rose 3% on the Toronto Stock Exchange.
Barrick’s diverse assets include gold mines in Tanzania, the Dominican Republic, and Papua New Guinea, along with copper operations in the Democratic Republic of Congo. Investors highlight that politically volatile regions have been Barrick’s biggest risk, especially after losing control of Mali’s Loulo-Gounkoto complex. The company aims to focus on stable, high-value mines while potentially divesting riskier holdings.
Read more: Pakistan secures $410m boost for Reko Diq copper-gold project
If implemented, the split could create a North American company with strong valuation and a separate entity managing African and Asian operations. Barrick intends to maximize shareholder value while managing risks in unstable regions. The future of Reko Diq remains a key part of the company’s strategy and Pakistan-Canada business relations.