Harmony Gold to acquire MAC Copper

The transaction implies a total equity value for MAC of US$1.03 billion (approximately R18.4 billion).

MAC has a 100% interest in the CSA Copper Mine, its sole asset, which is located approximately 700 km west-northwest of Sydney in the Cobar Region of New South Wales, Australia.

Beyers Nel, Chief Executive Officer of Harmony Gold, said:

“The acquisition of the CSA Copper Mine in Australia is significant as it introduces a high-quality, established underground producing copper asset to the Harmony portfolio. CSA is one of the highest-grade copper mines in Australia, producing approximately 41 kt of copper in calendar year 2024. The operation is a logical fit with the portfolio given it meets Harmony’s core investment criteria, including increasing free cash flow generation while improving margins at long-term expected commodity prices. We believe that Harmony is well positioned to leverage its expertise in underground mining to further enhance operations.

“Furthermore, the Transaction represents a significant step forward in transforming Harmony into an increasingly de-risked, higher-quality, global gold and copper producer through disciplined and effective capital allocation.”

Read the article online at: https://www.globalminingreview.com/mining/29052025/harmony-gold-to-acquire-mac-copper/