Harmony Gold has completed its acquisition of MAC Copper Limited, securing full ownership of the high-grade CSA copper mine in New South Wales, Australia. The deal immediately adds copper production to Harmony’s portfolio and marks a major step in advancing its diversification strategy.
Join our WhatsApp channel for more news updates on Harmony Gold
The transaction, valued at US$1.01 billion (approximately R18.4 billion), was finalised on October 24, 2025, through a Jersey law Scheme of Arrangement. Harmony acquired 100% of MAC’s securities at US$12.25 per share, funded through a combination of cash reserves and a US$1.25 billion bridge facility.
Harmony Gold CEO Beyers Nel described the deal as a defining moment in the company’s evolution into a global gold and copper producer.
“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,” said Nel. CSA is a high-grade, long-life copper asset located in a Tier-1 jurisdiction. This asset will meaningfully enhance our business and support our long-term growth.”
ALSO READ: Harmony moves ahead with MAC Copper acquisition
The CSA mine, one of Australia’s oldest operating copper mines, will now be integrated into the Harmony Gold (Australia) Pty Limited portfolio. The process, which begins immediately, will see Harmony embed its operational and performance frameworks over the next three months.
According to the company, the integration phase aims to unlock synergies, improve operational efficiency, and ensure the mine contributes meaningfully to Harmony’s long-term value creation.
Updates on the mine’s operational performance and development projects, including the ventilation project, upper Merrin mine expansion, and exploration activities, will be shared in Harmony’s half-year results presentation (H1FY26) expected in February or March 2026.
Harmony will also update its FY26 production guidance to include the CSA mine’s output. The mine’s life-of-mine plan for FY27 will be aligned with Harmony’s group planning standards and is scheduled for release alongside the company’s FY26 results in August 2026.