Harmony Gold Mining completes MAC Copper acquisition

Harmony Gold Mining has completed the acquisition of MAC Copper, owner of the CSA high-grade copper mine in New South Wales, Australia.

The transaction was completed through its wholly-owned subsidiary, Harmony Gold (Australia).

This acquisition was first announced in May 2025, and was executed on 24 October through a Jersey law scheme of arrangement.

Harmony purchased all of MAC’s securities at a price of US$12.25 per share, resulting in a total stock valuation of US$1.01bn (£756.7bn).

The deal was financed using cash reserves and bridge facilities worth $1.25 billion.

“Harmony is one of the world’s leading gold producers with a proud 75-year operating history and over two decades of experience in Australia and Papua New Guinea,” said Byers Neil, Harmony CEO. “Our proven operating model – extending the life of mines through disciplined investment in our ore bodies and people – has delivered long-term value to all stakeholders, making us the partner of choice.” Wherever we work.”

“We are delighted to welcome CSA mine employees to the Harmony family. The completion of this acquisition represents a significant milestone in our growth strategy to become a world-class gold and copper producer, reinforcing our commitment to sustainable value creation.”

“CSA is a high-quality, long-lived copper asset located in a Tier 1 jurisdiction. This asset will significantly strengthen our business and support our long-term growth.”

Harmony is currently integrating the CSA mine into its portfolio.

Over the next three months, the company plans to integrate the mine into the larger Harmony group, aligning operations with its planning and performance frameworks.

This integration seeks to unlock synergies and improve operational efficiency, positioning the CSA mine to contribute to Harmony’s long-term value creation.

Harmony will provide a detailed update on the operating performance and development milestones of the CSA mine at its mid-year results presentation scheduled for late February or early March 2026, as stated in the press release.

This will include information on the ventilation project, upper Merin mine development and exploration activities until December 2025.

The company plans to update its fiscal year 2026 (FY26) production guidance to include numbers from the CSA mine.

For fiscal year 2027, Harmony will incorporate its planning criteria into the CSA mine life plan, while maintaining consistency with the planning strategy across its other operations.

The CSA mine life plan will be released alongside Harmony’s FY26 results in August 2026.

Harmony is a specialist gold and copper mining and development company, with operations and assets in South Africa, Australia and Papua New Guinea.

“Harmony Gold Mining Completes Acquisition of MAC Copper” was originally created and published by Mining technologywhich is a trademark of GlobalData.

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