Barrick Gold is changing its name to Barrick Mining next month.
The global miner and operator of the Hemlo mine said April 28 that the name change is subject to shareholder approval at its annual meeting on May 6.
Barrick president and chief executive Mark Bristow said this move is a better reflection of its current business.
“Barrick’s vision is to be the world’s most valued gold and copper exploration, development and mining company,” he said in a statement.
“Along with our world-class portfolio of six tier-one gold mines, we are building a substantial copper business which will be a meaningful contributor to growing our production volumes in the coming years and beyond.”
Barrick is changing its stock ticker symbol on the New York Stock Exchange from ‘GOLD’ to ‘B,’ effective at the start of trading on May 9. Barrick common shares will continue to trade under the ‘ABX’ ticker symbol on the Toronto Stock Exchange.
“Gold remains core to our foundation and we will continue to explore for and develop new gold mines, including the expansion of Pueblo Viejo, the exciting Fourmile gold project in Nevada and exemplified by the Reko Diq project with its world class mix of both copper and gold,” Bristow said.
Toronto-based Barrick, the world’s second largest gold producer, appears to be starting a divestiture process with the $1-billion sale of its 50 per cent stake in the Donlin gold project in Alaska and a reported sell-off its Hemlo gold mine in northwestern Ontario, its last Canadian property. Barrick has yet to officially confirm this.
