Multiple outlets report Barrick’s board is weighing a two-entity path:
(1) a North America focused “core” housing Nevada Gold Mines, Fourmile, and other Tier-One assets
(2) a Rest-of-World/high-risk bucket (Africa/Asia incl. Mali, DRC, PNG, Pakistan’s Reko Diq).
Variants include selling select African assets and/or Reko Diq after financing.
• Elliott is now a top-10 shareholder, stake ~$700m+.
• FT and Miningmx say Elliott likes the split concept and may push for clear separation of “safe” vs. “riskier” assets to get a better valuation multiple on the NA business.
Watch out for any filing/PR saying “evaluating separation/strategic alternatives,” an Elliott letter/presentation, milestones on Mali dispute and Reko Diq financing, and Hill’s early-2026 strategy review.