Barrick Mining of Canada considers splitting into two entities

The board of Canada’s Barrick Mining has raised the possibility of splitting the company into two separate entities, one focused on North America and the other on Africa and Asia, four sources familiar with the company’s thinking told Reuters.

A split could also include the outright sale of Barrick’s African assets as well as of the Reko Diq mine in Pakistan, once it has secured financing, according to the sources.

In Mali, Barrick is looking to resolve a dispute with the African nation’s military administration before selling the asset, sources said. A Barrick spokesperson did not immediately respond to requests for comment. Interim CEO Mark Hill, asked on Monday about a possible split, said the company does not comment on speculation.

The company has resisted splitting in the past because without Nevada, this investor said, there is not much of value in its other mines. Barrick runs the Nevada gold mine in partnership with Newmont Corp. In addition to Nevada and Mali, the company’s other operating facilities include copper mines in the Democratic Republic of Congo, gold mines in Tanzania, the Dominican Republic, and Papua New Guinea.