Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Elon Musk posts ‘Kill Bill’ meme in latest...
Johnson says Republicans ‘don’t have time’ to craft...
Elon Musk warpath against Trump’s ‘big, beautiful bill’...
Durbin obstruction threat chills Senate as Trump nominees...
Elon Musk posts ‘Kill Bill’ meme in latest...
Trump orders Attorney General to investigate Biden’s autopen...
Biden insists ‘I made the decisions’ as Republicans...
‘He’s not a big factor’: Trump’s Senate allies...
DAVID MARCUS: Why Navy ships should not be...
GREGG JARRETT: Biden, the ‘marionette president; and the case...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

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

previous post
NorthStar Gaming Announces Results of Annual Meeting and Grant of Equity Incentive Awards
next post
Blue Lagoon’s Dome Mountain Joins BC’s Select List of Permitted Projects

You may also like

Metals Focus: PGMs Deficits Deepen as Supply Tightens...

May 21, 2025

Mr. Brady Rak Joins Skyharbour as Vice President...

October 3, 2024

Cipher Mining to Acquire Three Data Center Sites...

October 17, 2024

​Tech 5: NVIDIA Shares Latest Results, OpenAI Seeks...

September 1, 2024

Tech 5: Microsoft, Google Face New Antitrust Action,...

November 30, 2024

CHARBONE Hydrogen and ABB Sign Agreement to Advance...

March 13, 2025

Cardiol Therapeutics Announces Completion of the MAvERIC Phase...

September 10, 2024

CEO Appointment

May 19, 2025

Mawson Passes the Verification Process for Sustainable Exploration...

January 7, 2025

Strong Search and Cloud Revenues Propel Alphabet Past...

July 25, 2024

Recent Posts

  • Elon Musk posts ‘Kill Bill’ meme in latest push to nix Trump’s Big Beautiful Bill
  • Johnson says Republicans ‘don’t have time’ to craft new Trump plan despite Musk’s call to ‘KILL the BILL’
  • Elon Musk warpath against Trump’s ‘big, beautiful bill’ rattles House GOP
  • Durbin obstruction threat chills Senate as Trump nominees hang in balance
  • Elon Musk posts ‘Kill Bill’ meme in latest push to nix Trump’s ‘big, beautiful bill’

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


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

    Categories

    • Business (763)
    • Investing (2,257)
    • Politics (2,786)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.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 © 2024 Sightful Invest. All Rights Reserved.