Barrick Picks New York for North American Spinoff This Year

Barrick Mining Corp. said it plans to list its North American operations in New York and reaffirmed it’s on track to complete the initial public offering by year end.

The world’s third-largest gold producer is pursuing the spinoff as it seeks a reset after a string of operational setbacks and a management shakeup that included September’s sudden departure of longtime chief Mark Bristow. An IPO, which could value the North American assets at more than $60 billion, would follow years of declining output and separate the business from operations in riskier jurisdictions, including Mali and Pakistan.