Barrick Mining Corporation

Barrick Mining Corporation is a Canadian mining company headquartered in Toronto and focused primarily on gold and copper. The company grew out of Barrick Resources, a privately held North American oil and gas business whose founder, Peter Munk, redirected the enterprise toward gold after losses in its original energy activities. Barrick became publicly traded on the Toronto Stock Exchange in 1983 and subsequently expanded through mine acquisitions, exploration successes and corporate combinations. Its early transformation was driven by the Goldstrike property in Nevada, which became a major operating success and helped establish Barrick as a leading international gold producer. The company was renamed American Barrick Resources in 1986 and listed on the New York Stock Exchange in 1987. It adopted the name Barrick Gold Corporation in 1995. Acquisitions of Lac Minerals, Arequipa Resources, Sutton Resources and Homestake Mining broadened its North and South American and African portfolios. The 2005–2006 acquisition of Placer Dome further expanded Barrick's mine base and strengthened its position among the world's largest gold producers. Barrick later pursued a more geographically diversified and partnership-oriented model. African Barrick Gold was separated and listed in London in 2010, while the company also acquired Equinox Minerals in 2011. In 2018, Barrick entered a strategic partnership with Shandong Gold Group involving the Veladero mine. In 2019, it merged with Randgold Resources in an all-stock transaction. Mark Bristow, Randgold's former chief executive, became chief executive of the combined company. The same year, Barrick and Newmont formed Nevada Gold Mines, a jointly owned and Barrick-operated complex that combined major assets in Nevada and became the world's largest gold-mining complex. The business increasingly includes copper alongside gold. Its principal development priorities include the Reko Diq copper-gold project in Pakistan, the Pueblo Viejo expansion in the Dominican Republic and the Fourmile gold project in Nevada. Reko Diq was restructured through an agreement involving Barrick, Pakistan's federal government, Balochistan and Pakistani state-owned enterprises after a long-running dispute over the project's development rights. The project is intended to become a large, long-life copper and gold operation, subject to permitting, financing, construction and development execution. For 2024, the reference material reports production of 3.91 million ounces of gold and 195,000 tonnes of copper. It also reports year-end proven and probable reserves of 89 million ounces of gold and 18 million tonnes of copper. These figures are time-specific operational and reserve disclosures rather than permanent characteristics of the company. Barrick changed its corporate name from Barrick Gold Corporation to Barrick Mining Corporation in May 2025, reflecting its stated shift from a principally gold-oriented identity toward a dual gold-and-copper strategy. Its New York Stock Exchange symbol changed from GOLD to B, while its Toronto Stock Exchange symbol remained ABX.

Barrick Mining began as Barrick Resources, an oil and gas company founded by Peter Munk. After financial difficulties in energy, Munk redirected the business toward gold. Barrick Resources became publicly traded in Toronto in May 1983. The Goldstrike property in Nevada was an important early success, helping the company build a substantial North American production base. In 1986, the company adopted the name American Barrick Resources, emphasizing its North American identity, and it joined the New York Stock Exchange in 1987. The name Barrick Gold Corporation was adopted in 1995. Expansion during the 1990s and early 2000s came largely through acquisitions. The purchase of Lac Minerals in 1994 made Barrick a larger North and South American producer. Arequipa Resources added the Pierina operation in Peru, while Sutton Resources brought Tanzanian properties into the portfolio. In 2001, Barrick acquired Homestake Mining Company in a stock transaction valued at approximately US$2.3 billion, making Barrick the second-largest gold producer in the world at that time. Barrick then pursued Placer Dome in a hostile takeover launched in 2005. The transaction, completed in 2006 at a reported value of approximately US$10.4 billion, added important mines and interests in several jurisdictions. The company reorganized its Tanzanian assets as African Barrick Gold, which was listed on the London Stock Exchange in 2010 while Barrick retained majority ownership. In 2011, Barrick acquired Equinox Minerals after competing with China Minmetals. The company also developed strategic relationships intended to support its assets and expansion. In 2018, Barrick and Shandong Gold Group established a partnership connected with the Veladero mine in Argentina. A decisive corporate change came in 2018, when Barrick announced its all-stock merger with Randgold Resources. The combination closed with Mark Bristow, previously Randgold's chief executive, leading the merged company. In 2019, Barrick attempted to acquire Newmont, but the proposal was rejected. The companies subsequently formed Nevada Gold Mines, combining their Nevada assets under Barrick's operation. The joint venture began in July 2019 and brought together open-pit and underground mines, processing plants and related infrastructure. Barrick owns 61.5% and Newmont owns 38.5%. Barrick's later strategy placed greater emphasis on copper as a complement to gold. The Reko Diq project in Pakistan became a central development asset after a revised agreement in 2022 resolved the framework for the project among Barrick, Pakistan's federal government, Balochistan and Pakistani state-owned companies. The company also identified the Pueblo Viejo expansion and Fourmile in Nevada as important growth initiatives. In May 2025, shareholders approved the name Barrick Mining Corporation, and the change took effect on the exchanges on May 9. The rebrand represented the company's stated evolution into a diversified gold and copper mining enterprise. Later in 2025, the company underwent an interim leadership transition and considered a minority IPO for a proposed subsidiary holding selected North American assets, amid pressure from activist investor Elliott Investment Management.

1. 2025Corporate name changed to Barrick Mining

   The company formally changed its name from Barrick Gold Corporation to Barrick Mining Corporation and changed its NYSE symbol from GOLD to B.

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2. 2022Reko Diq framework agreed

   A new agreement established the ownership and development framework for the Reko Diq copper-gold project in Pakistan.

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3. 2019Nevada Gold Mines launched

   Barrick and Newmont combined their Nevada operations in a jointly owned complex operated by Barrick.

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4. 2018Randgold merger announced

   Barrick announced its all-stock merger with Randgold Resources, a transaction that reshaped its management and operating model.

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5. 2010African Barrick Gold listed

   Barrick separated its Tanzanian assets into African Barrick Gold, which listed in London while Barrick retained majority ownership.

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6. 2006Placer Dome acquisition completed

   Barrick completed its approximately US$10.4 billion acquisition of Placer Dome, adding major mines and interests.

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7. 2001Homestake Mining acquired

   The stock acquisition of Homestake made Barrick the world's second-largest gold producer at the time.

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8. 1994Lac Minerals acquired

   The acquisition expanded Barrick's properties and production interests across North and South America.

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9. 1986American Barrick Resources name adopted

   The company changed its name to American Barrick Resources as it emphasized its North American producer identity.

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10. 1983Barrick Resources becomes publicly traded

    Barrick Resources listed on the Toronto Stock Exchange on May 2, beginning its development as a public mining company.

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A large, globally diversified gold and copper mining group emphasizing Tier One assets, long-life reserves, disciplined capital allocation and partnerships with governments and strategic investors.

• GoldPrecious-metals mining1983

  Gold is Barrick's historic core commodity. The company explores for, develops and operates open-pit and underground gold mines, producing doré and other mine output for downstream refining. Its portfolio includes large operations in Nevada, the Dominican Republic, Argentina, Mali, Tanzania, Papua New Guinea and other jurisdictions. Gold remains central to Barrick's Tier One asset strategy and reserve base.

• CopperBase-metals mining

  Copper has become an increasingly important part of Barrick's portfolio and corporate positioning. The company produces copper and develops copper-gold deposits, including the Reko Diq project in Pakistan. Barrick presents copper as complementary to gold because of its importance in electrification and energy-transition infrastructure.

• Nevada Gold MinesMining complex2019

  Nevada Gold Mines is a large integrated gold-mining complex formed by combining Barrick and Newmont assets in Nevada. It includes underground and open-pit mines, autoclaves, roasters, mills, flotation facilities and heap-leach operations. Barrick operates the joint venture and holds a 61.5% interest; Newmont holds 38.5%.

• Reko DiqCopper-gold development project

  Reko Diq is a major copper-gold development project in Balochistan, Pakistan. Under the revised ownership framework, Barrick holds 50%, while the remainder is divided among the province, the federal government and Pakistani state-owned enterprises. Development is planned in phases and depends on feasibility work, approvals, financing and construction.

• Pueblo ViejoGold mine2012

  Pueblo Viejo is a major gold operation in the Dominican Republic and one of Barrick's important long-life assets. Barrick operates the mine in partnership with Newmont and has identified an expansion as part of its broader production and reserve strategy.

• FourmileGold exploration and development project

  Fourmile is a gold discovery and development project in Nevada. Barrick has presented it as a strategic growth asset and as part of the North American portfolio that could support future production and a potential separately listed subsidiary.

• 2025Rebrand as Barrick MiningStrategy

  Barrick's portfolio had expanded beyond its traditional gold identity to include significant copper production and development projects.

  What changed. Following shareholder approval, the company changed its legal name to Barrick Mining Corporation; its NYSE symbol changed from GOLD to B while its TSX symbol remained ABX.

  Aftermath. The new identity positioned the group as a dual gold-and-copper mining company.

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• 2025Evaluate an IPO for selected North American assetsStrategy

  The proposal emerged amid strong gold-market conditions and investor pressure to reveal value in assets located in relatively stable jurisdictions.

  What changed. The board authorized management to assess a minority initial public offering of a proposed subsidiary containing interests in Nevada Gold Mines, Pueblo Viejo and Fourmile, while retaining control.

  Aftermath. The evaluation was presented as a possible way to separate or highlight the value of selected North American gold assets; no completed IPO is established in the supplied material.

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• 2022Restart the Reko Diq projectStrategy

  The Reko Diq development had been halted after a dispute over the refusal of a mining license in 2011.

  What changed. Barrick entered a revised project framework with Pakistan, Balochistan and Pakistani state-owned enterprises, with Barrick holding a 50% interest.

  Aftermath. The agreement reopened a pathway toward feasibility work and phased construction, subject to required approvals and development execution.

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• 2019Form Nevada Gold Mines joint ventureM&A

  After Newmont rejected Barrick's proposed acquisition, the companies pursued cooperation in Nevada instead.

  What changed. Barrick and Newmont combined their Nevada assets into a joint venture operated by Barrick.

  Aftermath. The resulting complex became the world's largest gold-mining operation, with Barrick owning 61.5% and Newmont 38.5%.

  • Newmont — Newmont rejected the takeover proposal but agreed to combine its Nevada operations with Barrick's.
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• 2018Combine with Randgold ResourcesM&A

  Barrick sought to strengthen its operating model and global portfolio through a combination with Randgold Resources.

  What changed. The companies announced and completed an all-stock merger, with Mark Bristow becoming chief executive of the combined group.

  Aftermath. The merger created a larger international gold producer and became the foundation for subsequent portfolio optimization and operating changes.

  Transaction value. Approximately US$6.5 billion (2018 announcement)

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• 2025Barrick changes corporate name to Barrick Mining

  Following shareholder approval, the company adopted Barrick Mining Corporation to signal its broader gold-and-copper identity. The NYSE symbol changed from GOLD to B, while the TSX symbol remained ABX.

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• 2025Barrick faces activist investor pressure

  Elliott Investment Management reportedly pressed Barrick to unlock value through restructuring, including a possible separation of lower-risk North American assets from operations in other regions.

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• 2025Barrick evaluates IPO of North American asset subsidiary

  Barrick authorized management to evaluate a minority IPO of a proposed subsidiary containing selected North American gold assets, while retaining control.

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• 2025Barrick leadership transition

  Mark Hill was appointed interim president and chief executive officer after Mark Bristow's departure, while the board began a search for a permanent successor.

  Leadership change
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• 2022Barrick restructures Reko Diq project agreement

  Pakistan, Balochistan, Barrick and Pakistani state-owned entities agreed on a revised framework to resume development of the Reko Diq copper-gold project.

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• 2019Barrick launches bid for Newmont

  Barrick proposed a hostile acquisition of Newmont, but Newmont rejected the offer. The companies instead agreed to combine their Nevada operations.

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• 2019Nevada Gold Mines begins operations

  Barrick and Newmont launched Nevada Gold Mines, a jointly owned and Barrick-operated complex combining major Nevada mines and processing infrastructure.

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• 2018Barrick announces merger with Randgold Resources

  Barrick announced an all-stock combination with Randgold Resources, creating a larger international gold producer and bringing Mark Bristow into the chief executive role.

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1. Barrick Mining
2. Barrick official website