Barrick appoints former Shell CEO van Beurden as lead director

TORONTO - Barrick Mining Corporation (NYSE:B)(TSX:ABX), currently trading near its 52-week high at $23.43 and boasting a market capitalization of $40.27 billion, announced Monday that Ben van Beurden has been appointed Lead Independent Director of the Board, replacing Brett Harvey who held the position since 2013.

Van Beurden, who joined Barrick’s Board in May 2025, previously served as CEO of Shell where he led the company’s transformation from an oil-focused business to a diversified energy company with investments in natural gas and renewables.

Harvey, a board member since 2005, will continue to serve on Barrick’s Board after stepping down from the lead director role.

"Brett’s tenure as Lead Director has been marked by exceptional leadership and a steadfast commitment to sound governance," said Barrick Chairman John Thornton in a statement.

Thornton added that van Beurden’s appointment reflects the company’s ongoing initiative to refresh the Board’s composition to address evolving industry dynamics.

In addition to his new role at Barrick, van Beurden currently serves as a senior advisor on energy transition investments at KKR, an independent board member at Mercedes-Benz Group AG, and Chairman of Clariant, a Swiss specialty chemicals company.

Barrick Mining Corporation operates in 18 countries across five continents and is the largest gold producer in the United States, according to the company’s press release statement. The company maintains a stable 1.71% dividend yield and demonstrates low price volatility with a beta of 0.31. For detailed analysis and additional insights, access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Barrick Mining Corporation announced a quarterly dividend of $0.15 per share for the second quarter of 2025, payable to shareholders on September 15. This aligns with their Performance Dividend Policy established in early 2022. In a significant development, Barrick is in advanced talks to sell its last Canadian gold mine, the Hemlo gold mine in Ontario, to Discovery Silver Corp. However, there is no certainty that these discussions will conclude with a transaction. Additionally, Barrick reported progress on its $2 billion Super Pit Expansion Project at the Lumwana copper mine in Zambia, which aims to double annual copper production to 240,000 tonnes. The expansion includes infrastructure upgrades with a new power transmission framework developed alongside ZESCO. Meanwhile, Barrick has removed its Mali gold complex from its 2025 output forecast due to an ongoing dispute with the Mali government over new mining legislation. Operations at the Loulo-Gounkoto gold complex have been suspended since January. Lastly, Barrick’s shares saw a slight increase following the U.S. announcement of tariffs on certain gold bars.

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