Barrick Mining has filed registration documents with the U.S. Securities and Exchange Commission for the proposed initial public offering of its North American gold business, advancing plans to separate the assets from its wider portfolio.
The company said on Tuesday that the new publicly listed entity would be called American Barrick Gold Corporation and would seek to list its common shares on the New York Stock Exchange under the ticker symbol ABGC.
Barrick, the world’s third-largest gold producer, said it had filed a registration statement on Form S-11 with the SEC in connection with the proposed offering.
The number of shares to be sold and the proposed price range have not yet been determined, the company said. Net proceeds from the IPO will be distributed to Barrick, which expects to return the funds to its shareholders.
The filing advances a plan first announced last year to separate Barrick’s North American gold assets from its broader international operations.
In September, Chief Executive Mark Hill said the IPO could be delayed until January, citing “some delays” in completing formalities ahead of the listing.
Hill was appointed in August to lead the North American business following its planned separation.
American Barrick will hold the company’s joint-venture interests and its Fourmile gold discovery in Nevada, which Barrick has described as “one of the century’s greatest gold discoveries.”
In August, Barrick reached an agreement with Newmont that gave the Denver-based miner an interest in Fourmile and brought the deposit into the joint Nevada Gold Mines venture, in exchange for its support for the proposed IPO.
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Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
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