TORONTO – Barrick Mining Corp. named Mark Hill as president and chief executive as it said it will go ahead with an initial public offering of a subsidiary that would hold its North American gold assets.
The miner says spinning off the assets, including its joint venture interests in Nevada Gold Mines and Pueblo Viejo, as well as Barrick’s wholly owned Fourmile gold discovery in Nevada, in an IPO is the best path for maximizing value for shareholders. It says it plans to retain a significant controlling interest in the new company.
Hill has been doing the top job on an interim basis since September last year following the departure of Mark Bristow from the job. He will also join the board as a non-independent director.
The changes came as Barrick, which keeps its books in U.S. dollars, reported a fourth-quarter profit of US$2.4 billion or US$1.43 per per share, up from US$996 million or 57 cents US per share a year earlier.
Revenue totalled US$6.0 billion, up from US$3.6 billion in the fourth quarter of 2024 as Barrick’s realized price for gold rose to US$4,177 per ounce, up from US$2,657. The miner’s realized copper price was US$5.42 per pound, up from US$3.96 a year ago.
On an adjusted basis, Barrick says it earned US$1.04 per share in its latest quarter, up from an adjusted profit of 46 cents US in the fourth quarter of 2024.
This report by The Canadian Press was first published Feb. 5, 2026.
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