African Barrick Gold
In February 2010, Barrick Gold announced plans to create a separate company to hold its assets in Tanzania, called African Barrick Gold.[22] Barrick Gold would retain majority ownership in the new company, after its listing on the London Stock Exchange (LSE).[22] African Barrick Gold was listed on the London Stock Exchange in mid-March 2010, with an IPO valuation at US$3.6 billion.[23] The shares offered on the LSE raised just more than 500 million pounds.[24] In June the company was admitted to the FTSE 100 Index.[25]
Shandong Gold
In 2018, John L. Thornton orchestrated a strategic “trust-based relationship” between Barrick Gold and Shandong Gold Group, a Chinese state-owned enterprise, establishing joint ownership of the Veladero mine to capitalize on Shandong's investor base, capital suppliers, political connections, and regional influence. In the press release announcing the partnership, Thornton said that Barrick and Shandong were looking forward to “sharing... capital in ways that will create added value for our respective owners, and our government and community partners in San Juan province”.[28]
Randgold Resources
In September 2018, Barrick Gold announced an all-stock merger with Randgold Resources in a deal valued at $6.5 billion.[29][30] Immediately following the announcement of the merger, Randgold shares rose 6% and Barrick shares rose 5.6%.[31] The deal created the world's largest gold producer with the new company listed on the Toronto Stock Exchange and New York Stock Exchange.[31] The companies began talking about a combination in 2015 and the deal was orchestrated by Barrick Executive Chairman John L. Thornton and Randgold Founder and CEO Mark Bristow, who became CEO of the merged company.[32]
Newmont
In February 2019, Barrick Gold announced a hostile $19 billion bid to acquire Newmont.[33][34] It was estimated that a merger could create $7 billion of value in operational synergies and would result in a 14% rise in Newmont's net asset value per share.[35] The deal would have created a gold mining company with a market value of about $42 billion that some said would be a long-overdue restructuring of the global gold industry.[36] Merging gold companies could make the industry more attractive to general investors as gold reserves are shrinking across the globe so fewer competitors could boost growth prospects.[37] Newmont rejected the takeover offer and instead suggested the two companies' operations in Nevada, USA, be merged with Newmont CEO Gary Goldberg insisting that the joint venture be operated by Newmont with the two companies dividing the ownership equally.[38]
Nevada Gold Mines
On July 1, 2019, Barrick and Newmont launched Nevada Gold Mines.[40][41][42] The combined operation is the single largest gold mining complex in the world and employs more than 7,000 people.[43] It combined the mines Goldstrike, Cortez, Turquoise Ridge, and Goldrush from Barrick and Newmont's Carlin, Twin Creeks, Phoenix, Long Canyon sites, plus the associated processing plants and infrastructure of both companies.[44] The joint venture was created after Barrick gave up a takeover bid for Newmont in early 2019.[45]
Nevada Gold Mines in total comprises 10 underground and 12 opencast mines, two autoclave facilities, two roasting facilities, four oxide mills, a flotation plant and five heap leach facilities.
Reko Diq Project
Pakistan plans to grant Barrick a mining lease, exploration license and surface rights to restart the Reko Diq copper-gold project, it was announced in March 2022.[49] The project when in production has the potential to be one of the top five gold-copper mines in the world.[50] It has the potential to produce 250,000 ounces of gold and 200,000 tons of copper every year for more than half a century and could be in production by 2027.[49] It was estimated that the project site contains up to 42 million ounces of gold and 54 billion pounds of copper in a study done in 2010.[51] The mineral deposit was discovered at the foot of an extinct volcano in the 2000s.[52] Work on the project was stopped in 2011 when a mining license to develop the Reko Diq mine was refused to be granted by Pakistani authorities.[50] Ownership of the mine is to be split evenly between Pakistan and Barrick, which are investing about $10 billion in the project, which is the single largest investment in the country.
Corporate Strategy and Name Change (2025)
In May 2025, Barrick Gold Corporation officially changed its name to Barrick Mining Corporation (French: Société minière Barrick), following shareholder approval at its Annual and Special Meeting on May 6, 2025. The rebranding reflects Barrick’s evolution from a gold-focused company to a diversified mining enterprise with a growing copper portfolio. The company stated that its vision is to become “the world’s most valued gold and copper exploration, development and mining company.”[56][57]
The name change took effect on May 9, 2025, when Barrick’s common shares began trading under the new name on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX). The NYSE ticker symbol was changed from GOLD to B, while the TSX symbol ABX remained unchanged. A new CUSIP number (06849F108) was also assigned.[58][59]
This strategic rebranding aligns with Barrick’s broader business model, which now includes significant copper operations alongside its six Tier One gold mines. Key projects supporting this dual-commodity approach include the Pueblo Viejo expansion, the Fourmile gold project in Nevada, and the Reko Diq copper-gold project in Pakistan. Barrick views copper as critical for the global energy transition, complementing gold’s role as a store of value.
Leadership and Governance Changes (2025)
In September 2025, Barrick Mining Corporation announced a major leadership transition following the sudden departure of President and Chief Executive Officer Mark Bristow, who had led the company since its merger with Randgold Resources in 2019.[62][63] Bristow’s tenure was marked by the successful integration of Randgold, significant portfolio optimization, and a reduction of net debt by ~$4 billion.[64]
The Board appointed Mark Hill, a veteran executive with nearly 20 years at Barrick, as Group Chief Operating Officer and Interim President & CEO while initiating a global search for a permanent successor.[65] Hill previously oversaw Barrick’s Latin America and Asia-Pacific operations and played a key role in strategic projects such as the Fourmile gold discovery in Nevada.[66]
In November 2025, Barrick announced significant governance changes at the Board level. Ben van Beurden, former CEO of Shell and Lead Independent Director since August, resigned after seven months on the Board.
Initial Public Offering Evaluation (2025)
On December 1, 2025, Barrick announced that its board had authorized management to evaluate an initial public offering (IPO) of a new subsidiary to hold its premier North American gold assets. The proposed entity, referred to as “NewCo,” would include Barrick’s interests in Nevada Gold Mines (a joint venture with Newmont Corporation), the Pueblo Viejo mine in the Dominican Republic, and its wholly owned Fourmile discovery in Nevada.[70] Barrick stated that only a minority stake would be offered, while it would retain a controlling interest.
The move comes amid record gold prices and investor pressure to unlock value by separating assets in stable jurisdictions from those in higher-risk regions such as Africa and Pakistan.[71][72] Analysts estimate the North American assets could be worth between US$56 billion and US$62 billion, producing over 2 million ounces annually.[73][74] Barrick shares rose about 4.6% following the announcement, contributing to a year-to-date gain of more than 160% amid a strong gold rally.
Activist Investor Pressure (2025)
In late 2025, Barrick Mining Corporation came under significant pressure from activist investor Elliott Management Corporation, which disclosed a stake estimated at between US$700 million and US$1 billion, placing it among Barrick’s ten largest shareholders.[77][78] Elliott, known for its aggressive campaigns in the mining sector, began advocating for a major corporate restructuring to unlock value, including a potential split of Barrick into two separate publicly traded entities: one focused on its lower-risk North American assets and another holding operations in Africa, Asia, and other higher-risk jurisdictions.[79][80]
