Barrick Considers London Listing of Africa Assets in Potential $30bn All-Share Deal With Endeavour

Barrick Gold is considering a London listing for its Africa business and an all-share transaction valued at $30 billion with UK-listed Endeavour, Reuters reported June 3. The potential listing and tie-up come as Barrick seeks to move operations from regions it views as higher risk.

CEO Mark Bristow said last month the company was looking to divest riskier African assets and non-controlling assets.

Barrick operates mines in DR Congo, Mali, Tanzania, and Zambia. The company was embroiled in a dispute with the Malian government over a new mining code introduced in 2023 that caused it to lose control of one of its most productive assets. Barrick reached an agreement with Bamako in November 2025 to regain control of its mines.

JPMorgan said in an analyst note that the potential tie-up could boost outputs. The same note warned that such an entity would likely introduce new geographic exposures to Endeavour with higher average costs and lower relative organic growth, citing Mali and DR Congo.