Barrick Mining is facing growing resistance from major shareholders over Chairman John Thornton's plan to take some of the gold producer's most valuable North American assets public. The proposed initial public offering would include Barrick's Nevada operations, its Fourmile discovery, and a mine in the Dominican Republic, with Barrick retaining majority ownership while selling a minority stake to public investors. Portfolio managers at Van Eck Associates, Mackenzie Financial, and Franklin Equity Group have opposed the strategy, arguing existing shareholders would effectively surrender part of their exposure to the company's best assets to new investors. The dispute is likely to draw attention when Barrick reports quarterly results Monday.
Barrick Mining CorporationPlan to spin off prized assets faces shareholder backlash, potentially reducing existing shareholders' exposure.
