Harmony Gold has completed the final step of the regulatory process in acquiring Australian-focused company MAC Copper. <\/p>\n\n\n\n
Since May, Harmony Gold has been trying to acquire MAC Copper in a deal worth $1.08 billion (about R19 billion). MAC Copper owns the high-grade CSA Copper Mine in New South Wales. <\/p>\n\n\n\n
Harmony Gold said that the rationale for acquiring MAC Copper is that it will receive an immediately cash flow positive business. <\/p>\n\n\n\n
The mine also has a quality orebody, and its position on the industry cost curve will further enhance margins. It will add roughly 40,000 tons per annum of copper to the group\u2019s portfolio. <\/p>\n\n\n\n
A mix of cash, debt facilities and debt instruments funds the transaction.<\/p>\n\n\n\n
Harmony has benefited from a sky-high gold price in recent months amid increased global uncertainty, but noted that copper provides a natural hedge against gold price volatility. <\/p>\n\n\n\n
Several major mining companies are increasingly turning to copper, with increased electrification across the world expected to increase demand. <\/p>\n\n\n\n
In its latest update, Harmony said that the Royal Court of Jersey, which is where MAC Copper is headquartered, has made orders sanctioning the proposed acquisition. <\/p>\n\n\n\n
Following lodgement by MAC of a copy of the Court’s order with the Jersey Registrar of Companies, the offer is now legally effective.<\/p>\n\n\n\n
Implementation is expected to occur on Friday, 24 October 2025. At this point, Harmony will assume ownership and control of the CSA Copper Mine. <\/p>\n","protected":false},"excerpt":{"rendered":"
Harmony Gold will soon acquire MAC Copper, which owns a massive mine in New South Wales, Australia. <\/p>\n","protected":false},"author":95,"featured_media":839645,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[23793,21850,22661],"class_list":["post-839641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-csa-copper-mine","tag-harmony-gold","tag-mac-copper"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/839641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=839641"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/839641\/revisions"}],"predecessor-version":[{"id":839655,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/839641\/revisions\/839655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/839645"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=839641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=839641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=839641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}