Barrick Mining, the $63 billion Canadian gold and copper producer, is considering a potential split that would separate its North American operations from its assets in Africa and Asia, according to sources cited by Reuters.

If pursued, the move would effectively undo aspects of Barrick’s 2019 merger with Randgold Resources, a deal that combined its global portfolio under one structure. Analysts say Barrick currently trades at a discount despite the strong performance of its Nevada operations, which could command a significant valuation premium if spun off into a standalone entity.

The separation—still under discussion and not finalized—could therefore give shareholders tangibly more value, as a pure-play North American mining entity would likely attract higher multiples.

Company Silent on Speculation

A Barrick spokesperson did not respond to Reuters’ request for comment.
When asked about the potential split on November 17, Interim CEO Mark Hill reiterated that the company does not comment on speculation.

Sources familiar with internal discussions said talks are ongoing.