Barrick Mining Corporation
Barrick Mining Corporation (renamed from Barrick Gold Corporation in 2025 to reflect its growing copper business) is one of the world's largest gold and copper producers, formed by the 2019 merger of Barrick Gold and Randgold Resources. Headquartered in Toronto, its core operations are anchored by Nevada Gold Mines (a 61.5% Barrick / 38.5% Newmont joint venture, Barrick-operated), Kibali (DRC, 45% Barrick JV with AngloGold Ashanti and state miner SOKIMO), Loulo-Gounkoto (Mali) and Pueblo Viejo (Dominican Republic, ~60% Barrick JV with Newmont). Barrick plans to spin off its North American gold assets (including its Nevada Gold Mines stake and Pueblo Viejo) into a separately New York-listed 'NewCo' by late 2026. Mark Hill became permanent President and CEO on 5 Feb 2026 after serving as interim CEO from Sep 2025; Helen Cai is CFO. Year-end 2025 proven and probable gold reserves were 85 million ounces at 0.98 g/t, calculated at a $1,500-2,000/oz gold price assumption.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
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- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: grid power.
Not in place: grid power.
Not yet determined: tailings facility, grid power.
Combined view across 4 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 26 yrsNevada Gold Mines
- 18 yrsKibali
- 15 yrsLoulo-Gounkoto
- 24 yrsPueblo Viejo
Jurisdiction (40%)9/10
Nevada: Fraser PPI 2025 is 100.00 of 100 (rank 1 of 68), which maps to 9 on this site's scale. Barrick's flagship is Nevada Gold Mines, its 61.5%-owned joint venture with Newmont in northern Nevada, USA, which Barrick calls the world's largest gold-producing complex. Nevada is a top-tier mining jurisdiction, scored 9 like the other Nevada companies on this site. Barrick's other mines are in materially higher-risk jurisdictions, including Kibali in the Democratic Republic of the Congo, Loulo-Gounkoto in Mali (under military rule since 2020-2021) and Pueblo Viejo in the Dominican Republic; this single flagship-based score does not capture them.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Nevada Gold Mines.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Marigold (SSR Mining Inc.), 83 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
A disclosed corporate action (not an acquisition or merger)
A corporate action of this kind says nothing about takeover susceptibility, so it isn't scored.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:3.9/10
Nearest producing mine: Marigold (SSR Mining Inc.), 83 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
United States: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Interim President & CEO of Barrick Mining Corporation from Sep 2025, confirmed as permanent President & CEO in early 2026, after nearly two decades at Barrick since joining in 2006 (Chief Investment Officer from Sep 2016; earlier VP Evaluations and VP Capital Projects; COO for LATAM and Asia-Pacific). Before Barrick, held senior positions at BHP Billiton, AngloGold Ashanti, Placer Dome and WMC Ltd.
Senior Executive Vice President and Chief Financial Officer of Barrick Mining Corporation, effective 1 Mar 2026 (Barrick board member since Nov 2021). Before Barrick, Managing Director at China International Capital Corporation (CICC) leading IPO/restructuring/M&A transactions, until spring 2021; earlier an equity research analyst at Goldman Sachs covering American mining and technology sectors.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Not scored. Smart-money tracking covers companies below about US$5B in market cap, where a single specialist fund or strategic investor taking a stake is a meaningful signal. This company was above that size when it was assessed.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Barrick runs four separately studied gold complexes: Nevada Gold Mines (a joint venture with Newmont), Kibali in the DRC (with AngloGold Ashanti), Loulo-Gounkoto in Mali and Pueblo Viejo in the Dominican Republic (60% Barrick, 40% Newmont). The Pueblo Viejo expansion, a plant upgrade to about 14 Mtpa plus a new tailings facility, needs about US$1.3B of initial investment and is expected to extend the mine's life beyond 2040 at more than 800,000 oz a year on a 100% basis (July 2023). Barrick has not published an NPV or IRR for the expansion or for its other complexes. It reports resources inclusive of reserves: 150 Moz measured and indicated, of which 85 Moz is reserves.