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Barrick Gold Corp. is considering redomiciling to the United States from Canada, and under a Donald Trump administration that could happen sooner rather than later, Barrick chief executive Mark Bristow told The Globe and Mail’s editorial board.
On Thursday, he mapped out several reasons why a move to the U.S. makes sense, including access to a more efficient marketplace, and the ability to attract a bigger pool of shareholders. Redomiciling to the U.S. could put Barrick in the S&P 500 index, which would attract automatic buying from scores of mutual funds and exchange traded funds that track indexes.
Colorado-based Newmont Corp. is the only gold mining company in the S&P 500. “There’s a logic to it,” Mr. Bristow said. Toronto-headquartered Barrick is one of the few large Canadian mining companies left in Canada. Over the past two decades, scores of stalwart domestic miners have been scooped up by foreign competitors and many head offices have been closed down.
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