Global miner Barrick Mining Corporation plans to reduce its exposure to higher-risk jurisdictions and signaled openness to top-tier acquisitions, as it prepares to spin off its prized North American operations.

In a statement issued on April 8, chairperson John Thornton said the company’s strategy will center on concentrating capital on tier-one assets and overhauling its structure, anchored by a previously announced initial public offering of its North American assets.

“For many years, we have viewed our shares as undervalued. North American Barrick will be the most attractive pure gold company in the world, located in the most attractive jurisdiction, with the strongest proven growth pipeline.”

The world’s third-largest gold producer had already outlined plans to list its joint venture in Nevada, where it also owns the Fourmile discovery, and a mine in the Dominican Republic, which is targeted for completion by the end of the year. The move is part of a strategic reset following operational setbacks and a management shakeup.

The shift comes after years of declining output and the September departure of former CEO Mark Bristow, whose tenure included the seizure of a key Mali mine by the country’s military government.

Delivering an acquisition would be a first for Barrick since it formally merged with Randgold Resources in 2019 — a move that saw Bristow take the helm of the new Toronto-based company. Barrick made informal attempts to buy First Quantum Minerals which later fell through.

Barrick posted a sixth straight year of declining output in 2025, with production falling by 17% to 3.26-million ounces — the lowest in at least 25 years.

The company last week warned of significant cost increases at its massive copper and gold venture in Pakistan, after previously announcing it would slow development amid escalating security risks in the region. Barrick will scale back work at the project, which became a priority under Bristow’s tenure as he sought greater exposure to copper.