Barrick Mining Corporation (NYSE:B) has appointed Sebastiaan Bock as Chief Executive Officer, Rest of World, giving him responsibility for the company’s gold and copper operations and projects outside North America.
The appointment takes effect immediately, with Bock reporting directly to Barrick President and Chief Executive Officer Mark Hill.
Rest of World portfolio targets more than 20% production growth
Bock will oversee a portfolio spanning Africa, the Middle East, Latin America and Asia Pacific that currently produces more than two million gold equivalent ounces annually.
Barrick expects production from these operations to increase by more than 20% over the next three years, making execution across the Rest of World portfolio an important component of the company’s growth plans.
The business also has relationships with Chinese partners through joint mine ownership and co-investment, which Chairman John Thornton identified as a distinguishing feature of the portfolio.
Bock brings operational and financial experience
Bock joined Barrick in January 2019 as Senior Vice President and Chief Financial Officer for Africa and the Middle East before becoming Chief Operating Officer for the region in July 2022.
During his time in those positions, he was involved in several significant operational and strategic developments, including the Lumwana expansion, resolution of the situation in Mali, record throughput at Kibali and increases in gold reserves at Loulo-Gounkoto and Bulyanhulu.
Hill highlighted Bock’s experience across operations, finance, strategic planning, geopolitical matters, human resources and risk management as the company places him in charge of the broader international portfolio.
Leadership change puts focus on international growth execution
For investors, Bock’s appointment places an experienced Barrick executive at the head of a portfolio expected to deliver meaningful production growth over the next three years.
His previous involvement with major mine expansions, operating performance and geopolitical challenges could be particularly relevant given the geographic breadth of the assets he will now oversee.
“I am excited to accept this new role quite simply because what Barrick does, matters,” Bock said in a statement.
Attention will now turn to execution across Barrick’s Rest of World operations as the company works toward its forecast of more than 20% production growth from the portfolio over the next three years.
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