Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Harmony Gold to Acquire MAC Copper in US$1.03 Billion Deal

by admin June 2, 2025
June 2, 2025
Harmony Gold to Acquire MAC Copper in US$1.03 Billion Deal

Harmony Gold Mining Company’s (NYSE:HMY,JSE:HAR) wholly owned Australian subsidiary, Harmony Gold (Australia), has entered into a binding agreement to acquire MAC Copper (NYSE:MTAL,ASX:MAC).

MAC is the owner of the CSA copper mine in New South Wales. Its annual production comes to approximately 40,000 metric tons of copper, with 2024 output totaling 41,000 metric tons of the red metal.

The transaction is priced at US$12.12 per MAC share in cash, implying a total equity value of US$1.03 billion for MAC.

“(This acquisition) is significant as it introduces a high-quality, established underground producing copper asset to the Harmony portfolio,” said Harmony Gold CEO Beyers Nel in a Tuesday (May 27) press release.

“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.”

Located 700 kilometers west-northwest of Sydney in the Cobar region, CSA has a history that stretches back at least 150 years. Its reserve life stands at over 12 years, and it has maintained a stable resource over the last decade.

Harmony believes CSA will be a valuable addition to its sole Australian asset, Eva, in Northwest Queensland. Harmony acquired Eva in December 2022, and believes it is set to become the state’s biggest copper mine.

According to the company, Eva and CSA could together boost its copper production on the east coast of Australia to 100,000 metric tons annually over the course of the next five years.

The transaction remains subject to certain conditions, but MAC’s board has unanimously recommended that shareholders vote in favor of the scheme. Should everything follow to schedule, the deal is expected to close in Q4.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Allied Critical Metals Commences 5,000 Metre Drill Program at its Borralha Tungsten Project
next post
Blue Lagoon’s Dome Mountain Joins BC’s Select List of Permitted Projects

Related Posts

Positive Exploration Results at Havelock and Lucky Strike

May 23, 2024

5 Largest Cobalt Mines in the World (Updated...

April 12, 2024

Galan Declines AU$240M Bid for Argentina Projects

April 4, 2025

Interra Copper

December 28, 2023

Finlay Minerals Receives TSX Venture Exchange Approval for...

May 3, 2025

LME Copper vs. COMEX Copper (Updated 2023)

June 15, 2023

StrategX Announces Executive Change

April 2, 2025

The Stellantis Era Begins: Argentina Lithiumto drill up...

November 28, 2023

6 Mining Companies Make Top 20 on 2025...

January 18, 2025

175m @ 2.5% Copper from 7.6m, Hole Ends...

May 6, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    • The Best Five Sectors, #21

    • What’s Next for Dollar Tree, CrowdStrike, and Broadcom? Watch These Setups

    • Hedge Market Volatility with These Dividend Aristocrats & Sector Leaders

    • Development update – Collie graphite micronising facility

    • Cartier Signs Agreement with Exploits Discovery To Option 100% of the Benoist, Fenton and Wilson Properties

    Categories

    • Business (1,224)
    • Investing (2,514)
    • Politics (3,699)
    • Stocks (1,621)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved