US stock market alert | Barrick Mining (B.US) surged nearly 4% in pre-market trading, plans to conduct an IPO for its North American gold assets.

According to the Wise Financial APP, Barrick Mining (B.US) is planning to conduct an initial public offering (IPO) for its North American gold assets as the Canadian mining company is facing operational challenges and cost control issues. The board of Barrick Mining unanimously approved the management's plan to conduct an IPO for a department within the company. This department will be based on Barrick Mining's joint venture interests in Nevada Gold Mines and Pueblo Viejo mines, as well as the company's wholly-owned Fourmile gold discovery project in Nevada. The company stated in a statement on Monday that the new company will issue a small portion of its equity. As of the time of writing, the company's stock price has risen nearly 4% in pre-market trading on Monday.