Category: Gold

Barrick Mining Weighs IPO of North American Gold Assets as Operational Challenges Mount Barrick Mining (TSX: ABX; NYSE: GOLD) is considering an initial public offering (IPO) of its North American gold assets as the company confronts rising costs and a series of operational setbacks. In a statement, the board said it has unanimously authorized management to explore the creation and listing of a new subsidiary that would house key North American operations. Barrick would retain control of the proposed company, while listing only a small minority interest. The unit would… Read More Here

Barrick Mining Restructures Leadership as Elliott Takes Stake and Acquisition Talk Rises Barrick Mining Corp. is undertaking a sweeping management overhaul as the Canadian gold producer faces mounting speculation about a potential acquisition or corporate breakup. According to an internal letter to employees from newly appointed chief executive officer Mark Hill—reviewed by Bloomberg—the company is implementing significant leadership changes and revising its regional operating model. Two senior managers and a top executive are departing as part of the restructuring. The move comes shortly after activist investor Elliott Investment Management LP… Read More Here

Barrick Gold Considers Breaking Up Company: Possible Split of North American and African–Asian Assets The board of Barrick Mining, one of the world’s largest gold producers, is exploring a plan to split the company into two separate entities—one focused on North America and the other on Africa and Asia—according to four sources familiar with internal discussions. The potential restructuring could also involve the sale of Barrick’s African portfolio and the Reko Diq copper-gold project in Pakistan, once financing arrangements for the latter are secured, the sources told Reuters. In Mali,… Read More Here

$5.28 Billion Gold Reserves Discovered in Western Kenya’s Lirhanda Corridor, Boosting Mining Investment A British mining company, Shanta Gold Kenya Limited, announced on Wednesday the discovery of extensive underground gold deposits in Kakamega County, western Kenya, estimated to be worth more than $5.28 billion (Sh683 billion). Officials have described the find as a historic milestone for Kenya’s mineral sector. The discovery was made in the Lirhanda Corridor, a 1,200-kilometer mineral belt spanning Kakamega and Vihiga counties, following years of intensive exploration and drilling. “The project aims to secure the necessary… Read More Here