The relocation could also position Barrick for inclusion in the S&P 500 index, which would trigger automatic purchases from numerous mutual funds and exchange-traded funds that track the index.
Currently, Colorado-based Newmont Corp. is the only gold mining company in the S&P 500.
Barrick’s presence in the US and Canada
Barrick Nevada Gold Mines joint venture—61.5% owned by Barrick and 38.5% by Newmont (TSX: NGT; NYSE, ASX: NEM)—is the company’s largest operation and the world’s biggest gold-producing complex. It is expected to produce between 1.54 and 1.7 million ounces of attributable gold this year, accounting for nearly half of Barrick’s total output.
Barrick is also developing the Goldrush project in Nevada, which is anticipated to produce over 400,000 ounces per year by 2028. In addition, the company owns the Fourmile gold project in the state.
In Canada, Barrick runs the Hemlo mine in…
