Barrick Pledges Up to $3 Billion in Buybacks Ahead of IPO

Barrick Mining Corp. said it will repurchase as much as $3 billion of its shares as the world’s third-largest gold producer woos investors before spinning off its North American assets later this year.

Chairman John Thornton is prioritizing returning capital to shareholders as he embarks on a strategic reset of the firm. The latest buyback plan, which would be double what the Toronto-based mining company repurchased last year, comes after a historic rally in gold prices.