Mark Hill

President & CEO | Barrick Mining Corporation | Veteran mining executive driving the planned North American gold-copper spin-off

"Running Barrick Mining Corporation as President & CEO and driving its planned North American gold-copper spin-off"

Mining Executive

Biography

Mark Hill is President and CEO of Barrick Mining Corporation, one of the world's two largest gold producers and a major copper miner. He took the helm in September 2025 as interim CEO after Mark Bristow's abrupt departure and was confirmed in the permanent role in early 2026. For a resource investor, what matters is that Hill now controls capital allocation across roughly $40 billion of mining assets spanning the Americas, Africa and Asia-Pacific, and is the public face of Barrick's plan to separate its North American business into a standalone gold and copper company.

Hill joined Barrick in 2006 and rose through corporate development, strategy and operating roles before being named Chief Investment Officer in 2016. Before Barrick he was a partner and Head of Mining at Waterton Global Resource Management, a Toronto-based private equity firm focused on resource assets. He was central to Barrick's expansion into Latin America and Asia-Pacific, and played a key role in early decisions around the Fourmile gold project in Nevada, now regarded as one of the most significant undeveloped gold deposits in North America.

Hill's investing lens is operational rather than purely financial. As Group COO and then CEO he ran Barrick's producing mines while shaping the company's M&A and capital project pipeline, including the Pueblo Viejo expansion in the Dominican Republic and the Reko Diq copper-gold project in Pakistan. His stated focus has been on long-life, low-cost ounces — gold produced at all-in sustaining costs (AISC, the full cash cost per ounce including sustaining capex) well below the spot price — and on building copper exposure tied to grid electrification and the broader energy transition.

With the North American spin-off now formally underway, Hill is essentially writing the prospectus for what would be the largest pure-play North American gold and copper producer. For investors tracking the gold price, the copper deficit thesis, or senior gold M&A, his quarterly commentary, deal announcements and asset-divestment calls are first-order inputs into how the senior gold space is being reshaped.

Videos (1)

They Had One of the Best Gold Discoveries on Earth. Then This Happened |Barrick - Newmont Deal

guest Sep 4, 2026

Top takeaway As current Barrick CEO, he went off-script on the earnings call to argue the Newmont package is worth $4B, not $1.95B — adding the value of 38.5% of Newmont's Mike and Fiberline properties (~6.4M oz), dispute settlement, and the value of IPO consent itself — but then declined to break the $4B down when RBC's Josh Wolfson, Scotia's Tanya Jackiskanik, and UBS's Daniel Major all pressed for the math.
Conceded on the call that 'I haven't got a good answer' when CIBC's Anita Sawney pointed out that Barrick's lack of a 43-101 technical report on Four Mile is exactly why investors couldn't back out the implied value, effectively agreeing that the disclosure gap was driving the ~7% stock drop.
Frames the deal as buying certainty rather than as a strong negotiating outcome: the discount on Four Mile was, in his telling, a fee paid to Newmont to secure IPO consent and clear the default notice, not a price set by grade, mine life, or margin at $4,360 gold.
Expected to lead the new IPO vehicle targeted for end of 2026 (NYSE primary, TSX secondary), which will hold 61.5% of Nevada Gold Mines plus Pueblo Viejo in the Dominican Republic — assets that collectively produced roughly 2M attributable oz in 2025.
Earlier in the year, on the Q1 earnings call, he had tried to play down the dilution by saying Four Mile folding into the JV was 'an eventuality, not a maybe,' with the trigger not until fees were filed in 2029 — a timeline the Newmont deal has clearly pulled forward by several years.

Barrick handed Newmont 38.5% of Fourmile, a Nevada gold discovery, for $1.95B cash and two early-stage development properties, ending a default dispute. Analysts pegged Newmont's 38.5% stake at $4-8B; Barrick defended a $4B total deal value but could not break down the math on its earnings call. Barrick built its own trap by announcing a North American IPO before securing partner consent, then negotiating from weakness. No 43-101 technical report exists for Fourmile — only a slide-deck PEA (Preliminary Economic Assessment) — letting analysts challenge Barrick's claim. The cash flows to Barrick shareholders, not into the IPO vehicle, so the listed entity cedes its growth asset without funding.

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Specializations

Gold Copper Production M&A Mining Stocks

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