Canadian gold major Barrick Gold is not considering redomiciling to the US, CEO Mark Bristow said on Monday, stressing that the group was “very comfortable” in Ontario.
He was responding to an analyst question on the issue during Barrick’s second-quarter results webcast, following a news article last week which stated the world’s second largest gold miner was considering switching its primary stock listing to the NYSE.
A primary US listing would allow Barrick to be traded on the S&P 500.
“It is possible to get onto the S&P without redomiciling. And to redomicile in the US just to be able to get on the S&P, that’s a questionable decision,” Bristow said, highlighting the high cost of moving domiciles.