South Africa’s Harmony Gold Mining Co. Ltd. has completed the acquisition of New South Wales-based MAC Copper Ltd. through its wholly-owned Australian subsidiary Harmony Gold (Australia) Pty. Ltd.
Harmony acquired 100 per cent of MAC’s securities at a price of US$12.25 per share. The company funded the transaction using cash reserves together with a US$1.25 billion bridge facility.
Harmony will now integrate MAC’s CSA copper mine into its portfolio, aligning its operations with Harmony’s planning and performance frameworks. The process is designed to unlock synergies, enhance operational efficiency and contribute to Harmony’s long-term value creation.
Harmony agreed to acquire MAC in May as part of its strategy of value-accretive acquisitions. The deal supports Harmony’s strategic objective of transitioning to a low-cost global gold and copper mining company.
Beyers Nel, Harmony’s CEO, said the acquisition enhance its business and support long-term growth.
“The 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,” Nel said.
