Harmony completes $1bn acquisition of CSA copper mine in Australia
South African gold miner Harmony Gold has completed the $1.01-billion acquisition of MAC Copper, the owner of the high-grade CSA copper mine in New South Wales, Australia, giving the company immediate exposure to copper production.
The transaction, first announced in May, was implemented on Friday through a Jersey law Scheme of Arrangement. Harmony acquired 100% of MAC’s securities at $12.25 a share, implying a total equity value of about $1.01-billion, or about R18.4-billion. The deal was funded through cash reserves and a $1.25-billion bridge facility.
“The completion of this acquisition marks a significant milestone in our strategy to grow into a global gold and copper producer,” said CEO Beyers 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.”
Harmony will now begin integrating the CSA mine into its broader portfolio.
The company plans to provide an update on the mine’s operational performance and key development milestones, including the ventilation project, upper Merrin mine development and exploration activities, at its half-year results presentation in early 2026. Updated production guidance for 2026, incorporating CSA output, will also be shared at that time.
Harmony’s 2027 life-of-mine planning parameters will be embedded into CSA, with a full mine plan to be released alongside its 2026 results in August 2026.
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