Barrick Gold appointed Sebastiaan Bock as CEO of its Rest of World division. This leadership change supports the company’s plan to separate its international and North American assets. Barrick intends to launch an IPO for its North American business by the end of the year.
Barrick and Newmont signed a new agreement regarding their Nevada Gold Mines (NGM) joint venture, resolving all outstanding disputes. The deal consolidates Barrick’s Fourmile project and Newmont’s Fiberline and Mike projects into the NGM partnership.
BofA Securities lowered its price target on Barrick to $54 from $56. Analysts cited a reduced net asset value for the Fourmile project following the consolidation agreement.