The Financial Post reports in its Friday edition Barrick Mining is planning to reduce exposure to higher-risk jurisdictions and signalled openness to top-tier acquisitions as it prepares to spin off its prized North American operations. A Bloomberg dispatch to the Post says that in a statement late Wednesday, chairman John Thornton said the company's strategy will centre on concentrating capital on tier-one assets and overhauling its structure, anchored by a previously announced initial public offering of its North American assets. "For many years, we have viewed our shares as undervalued," wrote Mr. Thornton. "North American Barrick will be the most attractive pure gold company in the world, located in the most attractive jurisdiction, with the strongest proven growth pipeline." The move is part of a strategic reset following operational setbacks and a management shakeup that saw the departure of chief executive officer Mark Bristow. Barrick was once the biggest gold company in the world by market value, but in recent years, it has slipped to third behind Colorado-based Newmont and Canada's Agnico Eagle. Since the departure of Mr. Bristow, Barrick has slowed development of its Reko Diq copper-gold project in Pakistan.