Harmony Gold has finalised the acquisition of MAC Copper, the owner of the CSA copper mine in New South Wales, Australia. <\/p>\n\n\n\n
The transaction, which was announced in May 2025, was implemented today, 24 October 2025. <\/p>\n\n\n\n
Harmony Gold has acquired 100% of MAC\u2019s securities for $12.25, implying an equity value of $1.01 billion (roughly R18.4 billion). <\/p>\n\n\n\n
This transaction has been fully funded by using cash reserves together with a US$1.25 billion bridge facility. While MAC Copper owns a mine in Australia, its HQ is based in Jersey. <\/p>\n\n\n\n
\u201cHarmony(has)more than two decades of experience in Australia and Papua New Guinea,\u201d said CEO Beyers Nel. <\/p>\n\n\n\n
\u201cThe completion of this acquisition marks a significant milestone in our strategy to grow into a global gold and copper producer, reinforcing our commitment to sustainable value creation.\u201d <\/p>\n\n\n\n
\u201cCSA is a high-grade, long-life copper asset located in a Tier-1 Jurisdiction. This asset will meaningfully enhance our business and support our long-term growth.\u201d <\/p>\n\n\n\n
The integration of the CSA mine into the Harmony portfolio is now starting.<\/p>\n\n\n\n
Within the next three months, Harmony will be embedding the mine into the broader group, aligning its operations with planning and performance frameworks. <\/p>\n\n\n\n
The process aims to enhance operational efficiency and position CSA to contribute meaningfully to the long-term value creation of Harmony. <\/p>\n\n\n\n
A detailed update on operational performance and key development milestones will be provided in the group\u2019s half-year results next year. <\/p>\n\n\n\n
The development milestones include a ventilation project, an upper Merrin mine development and exploration activities. <\/p>\n\n\n\n
The group will also update its production guidance to incorporate the CSA mine figures. <\/p>\n\n\n\n
Harmony\u2019s planning parameters for the 2027 financial year will also be embedded into the CSA mine to develop its FY26 life-of-mine plan.<\/p>\n\n\n\n
Harmony\u2019s diversification comes amid a massive surge in the gold price amid heightened global uncertainty and question marks over the US dollar\u2019s future. <\/p>\n\n\n\n
Harmony is also joining a long list of mining companies pushing aggressively into copper.<\/p>\n\n\n\n
Many miners are looking to benefit from greater electrification worldwide, hence the push into copper mining. <\/p>\n\n\n\n