Barrick names Bock to lead overseas arm ahead of split
Sebastiaan Bock takes charge of a 2-million-ounce portfolio as Barrick prepares to separate its global businesses.
Barrick Mining Corporation, a major gold and copper producer, has appointed Sebastiaan Bock as CEO of its Rest of World division, which oversees its overseas operations in Africa, the Middle East, Latin America, and Asia Pacific. This move comes as the company prepares to split its North American and overseas businesses following a recent settlement with Newmont Corporation over Nevada mining assets.
Bock, who joined Barrick in 2019, will immediately take charge of operations and projects in the Rest of World division, which currently produces more than 2 million gold-equivalent ounces annually. Barrick anticipates a 20% or greater increase in output from this division over the next three years, highlighting Bock's role as a key driver of future growth.
The company expects the split to enable the Rest of World business to leverage closer ties with Chinese partners, access to advanced technology, and streamlined supply-chain support. Bock's experience running Barrick's Africa and Middle East portfolio in several capacities makes him well-suited to guide the overseas division's expansion.
BMO Capital Markets analysts have expressed positive sentiments regarding Bock's appointment, emphasizing his expertise in managing Barrick's international operations and the potential benefits of the Rest of World business's production growth and Chinese partnerships. Bock is expected to become the CEO of Barrick after the successful completion of the IPO of its North American gold assets, which is anticipated to be finalized by the end of the year.
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