• Editor’s Pick
  • Investing
  • Economy
  • Stock
  • Politics
Income Researchers
Investing

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

by June 2, 2025
June 2, 2025

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
previous post
Blue Lagoon’s Dome Mountain Joins BC’s Select List of Permitted Projects
next post
Trump’s 20th week in office to include White House meeting with European leader, expected call with Xi

Related Posts

Operational Update

June 4, 2025

5 Biggest Blockchain ETFs in 2025

June 4, 2025

RAD Doses 1st Patient in Therapeutic Trial of...

June 4, 2025

Adam Rozencwajg: Gold Stock Gains, Silver and Uranium...

June 3, 2025

Mali Court Adjourns Barrick’s Gold Complex Hearing Over...

June 3, 2025

China’s Breakthrough in Uranium Seawater Extraction Boosts Efficiency...

June 3, 2025

Bird Flu Vaccine Stocks: 8 Companies Developing H5N1...

June 3, 2025

Leadership Shakeup: Rio Tinto’s Stausholm to Step Down...

June 3, 2025

US Admin Fast Tracks Laramide Uranium Projects, Meta...

June 3, 2025

Top 5 Lead Reserves by Country

June 3, 2025

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Operational Update

      June 4, 2025
    • Expert speaks out on ‘perfect solution’ to federal hiring issues creating national security concerns

      June 4, 2025
    • 5 Biggest Blockchain ETFs in 2025

      June 4, 2025
    • RAD Doses 1st Patient in Therapeutic Trial of 177Lu-RAD202

      June 4, 2025
    • Energy groups celebrate Trump’s latest move to unleash Alaska drilling

      June 4, 2025

    Archives

    • June 2025 (84)
    • May 2025 (795)
    • April 2025 (79)
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 incomeresearchers.com | All Rights Reserved

    Income Researchers
    • Editor’s Pick
    • Investing
    • Economy
    • Stock
    • Politics

    Read alsox

    Trading Halt

    May 22, 2025

    NorthStar Gaming Announces Revocation of Management Cease Trade...

    May 20, 2025

    7 Copper ETFs and ETNs

    May 9, 2025