Barrick Gold Corp. has selected Goldman Sachs Group Inc. to lead the initial public offering of its North American mining assets, according to people familiar with the matter. The move represents a significant step in the company's strategy to spin out its premier gold mines, which include some of the highest-grade operations in the region.

Michael Klein, founder of advisory firm M. Klein & Co., is also advising on the transaction, adding his dealmaking expertise to the process. The people, who asked not to be identified discussing confidential information, did not disclose potential valuation or timing details for the IPO.

The decision to separate North American assets comes as Barrick seeks to optimize its portfolio and potentially unlock shareholder value. By engaging Goldman Sachs for the IPO, Barrick is signaling its commitment to a high-profile public offering that could reshape the company's market position and operational focus.