Harmony Gold clears final legal hurdle in acquisition of MAC Copper
JSE-listed Harmony Gold Mining Company has announced that the Royal Court of Jersey has sanctioned its proposed acquisition of 100% of the issued share capital in MAC Copper through a Jersey law scheme of arrangement.
The transaction will be completed by Harmony Gold (Australia), a subsidiary of Harmony Gold.
The approval was granted under Article 125 of the Companies (Jersey) Law 1991 (as amended), and a copy of the court’s order has been lodged by MAC Copper with the Jersey Registrar of Companies. This filing makes the scheme legally effective, clearing the final procedural step for the deal to proceed.
The acquisition has been in the works for several months, following Harmony Gold’s announcement earlier this year that it had reached an agreement with MAC Copper shareholders.
The deal is part of Harmony’s broader strategy to expand its copper portfolio and strengthen its presence in the base metals sector.
Harmony has already completed technical, financial and legal due diligence on the CSA copper mine, in New South Wales, Australia, and the company has been preparing for operational handover once regulatory approvals are secured.
Harmony said implementation of the scheme is expected to take place on October 24, when it will assume ownership and operational control of the CSA copper mine.
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