Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Investing

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

by Invest Daily Pro
June 2, 2025
in Investing
0
Harmony Gold to Acquire MAC Copper in US$1.03 Billion Deal
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

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

ShareTweetPin

Related Posts

Seabed Mining Heats Up as Lockheed Martin Courts Interest in Pacific Licenses
Investing

Seabed Mining Heats Up as Lockheed Martin Courts Interest in Pacific Licenses

July 16, 2025
Rule Symposium 2025: Gold, Geopolitics and the Real Asset Uprising
Investing

Rule Symposium 2025: Gold, Geopolitics and the Real Asset Uprising

July 16, 2025
Gold Price Update: Q2 2025 in Review
Investing

Gold Price Update: Q2 2025 in Review

July 15, 2025
AI Market Update: Q2 2025 in Review
Investing

AI Market Update: Q2 2025 in Review

July 15, 2025
Silver Crown Royalties Closes Final Tranche of its Non-Brokered Private Placement
Investing

Silver Crown Royalties Closes Final Tranche of its Non-Brokered Private Placement

July 14, 2025
Tech 5: NVIDIA Hits Market Cap Milestone, Harmonic Raises US$100 Million
Investing

Tech 5: NVIDIA Hits Market Cap Milestone, Harmonic Raises US$100 Million

July 14, 2025
Next Post
Blue Lagoon’s Dome Mountain Joins BC’s Select List of Permitted Projects

Blue Lagoon’s Dome Mountain Joins BC’s Select List of Permitted Projects

Recommended

The Philippine justice system is malfunctioning

The Philippine justice system is malfunctioning

August 26, 2024
PHL growth may fall below 6% in ’25

PHL growth may fall below 6% in ’25

December 25, 2024
Top 5 Canadian Silver Stocks of 2025

Top 5 Canadian Silver Stocks of 2025

July 11, 2025
DigiPlus, BingoPlus Foundation champion inclusion, empower PWDs with PLUS Center for Adaptive Sports and Physical Rehabilitation

DigiPlus, BingoPlus Foundation champion inclusion, empower PWDs with PLUS Center for Adaptive Sports and Physical Rehabilitation

September 19, 2024
Estate agents’ books fill up as mortgage rates drop, easing pressure on house prices

Estate agents’ books fill up as mortgage rates drop, easing pressure on house prices

October 21, 2024
Survey Now Available for Manufacturing Analytics and AI Relevance

Survey Now Available for Manufacturing Analytics and AI Relevance

December 17, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) 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.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Thank you

    Copyright © 2025 investdailypro.com | All Rights Reserved