Barrick Gold Mulls Relocation of Corporate Domicile to the U.S.

It must be noted that Colorado-based Newmont Corporation is currently the only company to be listed in the S&P 500 index.

SEATTLE (Scrap Monster):  Barrick Gold's CEO, Mark Bristow, stated that the mining corporation is thinking of moving its corporate headquarters from British Columbia, Canada, to the United States. He noted that such a move might make the market more efficient and assist the business draw in more investors.

As a result of the proposed move, the company would be included in the S&P 500 index, which would encourage different mutual funds and exchange-traded funds to buy its shares. It should be mentioned that the only firm currently included in the S&P 500 index is Newmont Corporation, situated in Colorado.

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Nearly half of Barrick's total production comes from the company's largest business, the Nevada Gold Mines joint venture with Newmont. The business also owns the Fourmile gold project in addition to the Goldrush project in Nevada. Barrick is also the operator of the Hemlo mine in Ontario, Canada.

It is anticipated that the second Trump administration's 'America First' strategy will hasten the company's intended relocation to the US. Bristow emphasized that, in contrast to the other option of purchasing a significant U.S. miner, the move would be a difficult, expensive, and time-consuming procedure.

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