Barrick Mining has confirmed Mark Hill as the leader of its planned North American gold business as a new agreement with Newmont clears a major obstacle to the proposed public listing.
Barrick Mining is moving ahead with plans to separate its North American gold assets into a new publicly traded company after reaching an agreement with joint-venture partner Newmont. The development removes a significant hurdle for the planned transaction and gives Barrick greater clarity as it prepares for one of the mining industry’s closely watched listings.
Mark Hill, who became Barrick’s permanent president and chief executive earlier this year after serving as interim CEO, will lead the company through the restructuring. Barrick’s board had previously selected Hill to guide the company through the planned IPO process, with the North American business expected to become a more focused gold producer operating primarily in stable jurisdictions.
Newmont Dispute Moves Toward Resolution
The agreement is particularly important because Newmont had previously challenged aspects of Barrick’s proposed spinoff.
The two companies are partners in Nevada Gold Mines, one of the world’s largest gold-producing operations. Newmont had raised concerns about the management and operation of the Nevada assets and argued that its contractual rights needed to be respected before Barrick could proceed with a transaction involving the joint venture.
Under the new agreement, Newmont has consented to the planned IPO. The companies will also expand the Nevada joint venture by bringing Barrick’s Fourmile discovery into the partnership earlier than previously planned.
Newmont will make a one-time payment of about $2 billion to Barrick as part of the settlement, reflecting the value of Fourmile and the revised structure of the partnership.
North American Assets Form the Core
The proposed new company will contain several of Barrick’s most valuable North American assets.
These include Barrick’s interest in Nevada Gold Mines, its stake in the Pueblo Viejo operation and the Fourmile gold discovery in Nevada. Barrick has said the North American business is intended to become a focused gold company while the parent retains a significant controlling interest following the listing.
The strategy allows Barrick to unlock potential value from assets that operate in jurisdictions considered relatively stable while keeping control of the new company.
The planned separation also responds to investor interest in a simpler corporate structure. Barrick has operations and projects across several regions, including areas that carry greater political, security and operational risks. Separating its North American assets could give investors a more direct way to gain exposure to its largest gold operations in the region.
Hill Takes Charge of the Next Phase
Hill’s appointment gives Barrick continuity as it moves toward the IPO.
He joined Barrick in 2006 and has held senior positions across the company, including responsibility for Latin America and Asia-Pacific operations. He also played a role in the early decision to explore the Fourmile project in Nevada.
Barrick appointed Hill as interim president and CEO in September 2025 following Mark Bristow’s departure. The company later made Hill permanent CEO after its board concluded that his experience and performance made him the appropriate executive to lead the next phase.
His role now extends beyond managing Barrick’s existing operations. He will also oversee the restructuring required to establish the North American company and prepare it for public investors.
Fourmile Becomes More Important
Fourmile is becoming an increasingly important part of the transaction.
The Nevada discovery is located near Barrick’s Goldrush project and has attracted significant attention because of its exploration potential. Barrick has described Fourmile as one of its most important discoveries, while the company has continued investing in exploration and development.
Under the agreement with Newmont, the asset will be incorporated into Nevada Gold Mines. Newmont’s payment of roughly $2 billion reflects the value associated with the expansion of the joint venture.
The deal also resolves disagreements between the companies over how the Nevada assets should be managed.
IPO Could Reshape Barrick
Barrick’s planned listing represents a major strategic change for the company.
The board authorized management to explore the IPO in late 2025 after reviewing ways to maximize shareholder value. Barrick subsequently approved preparations for the transaction, with the company expecting the listing to be completed by the end of 2026.
The new company is expected to provide investors with a more concentrated portfolio of North American gold assets. Barrick intends to retain significant control, meaning the IPO is not a complete separation of the business.
That distinction matters because the company is seeking to unlock value without giving up control of assets it considers strategically important.
Gold Market Adds to Investor Interest
The restructuring comes during a period of strong interest in gold and gold-mining companies.
High gold prices can increase the profitability and market value of established producers, particularly companies operating large, long-life deposits. North American assets can also attract additional investor interest because of their location in established mining jurisdictions with developed infrastructure and financial markets.
The proposed spinoff could therefore give Barrick an opportunity to demonstrate the value of its North American portfolio separately from its other international operations.
However, the success of the IPO will ultimately depend on investor demand, market conditions and expectations for gold prices.
A New Relationship With Newmont
The agreement also changes the relationship between two of the world’s biggest gold miners.
Rather than continuing their dispute over Nevada operations, Barrick and Newmont will expand their existing partnership. Nevada Gold Mines will gain access to Fourmile, while Newmont receives compensation and provides consent for Barrick’s planned listing.
For Barrick, the settlement removes uncertainty surrounding one of the most important parts of the IPO. For Newmont, the agreement provides a revised structure for the Nevada assets while resolving disputes that had threatened to complicate Barrick’s plans.
Looking Ahead
Barrick now faces the task of turning the agreement into a successful public listing.
Mark Hill will be responsible for guiding both the parent company and the North American business through the transition. The proposed spinoff is expected to create a more focused gold producer built around Nevada Gold Mines, Pueblo Viejo and Fourmile.
The Newmont agreement is a significant step because it removes a major contractual and operational obstacle to the transaction. It also gives Barrick greater certainty as it prepares investors for the new company’s structure and strategy.
The next challenge will be convincing public-market investors that the separated North American assets deserve a strong valuation. If Barrick succeeds, the IPO could unlock substantial value while creating a more focused company centered on some of its most attractive gold assets.
For Barrick, the deal therefore represents more than a management appointment or a settlement with Newmont. It is a major step in reshaping the company’s portfolio and positioning its North American operations as a standalone investment opportunity.
