Barrick Gold Considers Relocating Headquarters to the United States
New Delhi; Barrick Gold Corporation, a leading global mining company headquartered in Toronto, is evaluating the possibility of moving its corporate domicile from Canada to the United States. CEO Mark Bristow has indicated that such a relocation could enhance market efficiency and attract a broader investor base. One significant advantage of this move would be potential inclusion in the S&P 500 index, which could lead to automatic investments from mutual funds and exchange-traded funds that track the index.
The company’s substantial operations in the U.S., particularly in Nevada, underscore the strategic rationale behind this consideration. Barrick holds a 61.5% stake in Nevada Gold Mines, a joint venture with Newmont Corporation, which stands as the world’s largest gold-producing complex. This venture is projected to produce between 1.54 and 1.7 million ounces of attributable gold in 2025, accounting for nearly half of Barrick’s total output. Additionally, Barrick is advancing the Goldrush project in Nevada, expected to yield over 400,000 ounces annually by 2028.
In contrast, Barrick’s Canadian operations are comparatively smaller. The Hemlo mine in Ontario, which has been in continuous operation for over three decades, is forecasted to produce between 140,000 and 160,000 ounces of gold in 2025.
Bristow also noted that a second Trump administration could facilitate the relocation process under its “America First” agenda. However, he acknowledged that moving to the U.S. involves complex, costly, and time-consuming procedures due to intricate tax regulations. While acquiring a major U.S. company could expedite the process, Bristow mentioned the current lack of attractive acquisition targets.
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