BARRICK Mining is considering delaying the planned listing of its North American gold business until 2027, Bloomberg reported.
The miner said previously it was targeting completion by the end of this year.
CEO Mark Hill told analysts in August that the initial public offering (IPO) remained on track for 2026. Hill is expected to lead the North American business after the listing, while Sebastiaan Bock will head Barrick’s remaining operations.
Barrick is working with Goldman Sachs on the transaction and is in talks with other banks about joining the potential IPO, according to Bloomberg.
Preparations are continuing and the timing could still change. Barrick declined to comment.
The proposed separation has faced opposition from some major shareholders, including criticism of chairman John Thornton’s strategy to split off and list the North American mines.
Barrick last month reached an agreement with Newmont that removed another potential obstacle to the IPO. Newmont received a stake in a Nevada gold project in return for supporting the listing after previously threatening legal action over the companies’ Nevada joint venture.
Barrick’s US-listed shares rose 22% in August as investors moved into gold amid concerns over US budget deficits and a weaker dollar.
Despite the rally, the shares are little changed this year, valuing Barrick at about $72bn.
