Harmony Gold Mining Company Limited has successfully completed the acquisition of MAC Copper Limited and the CSA mine, through its wholly owned Australian subsidiary, Harmony Gold (Australia) Pty Limited.
Harmony has acquired 100 per cent of MAC’s securities at a price of US$12.25 per share, implying a total equity value of US$1.01 billion.
MAC Copper entered into a binding scheme implementation deed with the South African company in May this year with Harmony Gold to purchase all of MAC’s assets, including the CSA Mine.
MAC CEO Mick McMullen said that Harmony’s primary focus had been adding the CSA Mine to their portfolio.
Harmony Gold Chief Operating Officer – Australasia, Jaco Boshoff, and executives Stan Bierschenk, Simon Pope, and David Hall were in Cobar for the official handover on Friday.
They met with the CSA Mine leadership team and employees with Mr Boshoff officially welcoming them to the Harmony team.
“On behalf of the leadership team, I’d like to extend a warm welcome to all employees and contractors as we begin this new chapter together,” Mr Boshoff said.
“We are thrilled about the opportunities that lie ahead.
“Harmony brings a strong commitment to growth, collaboration, and innovation, and we are confident that this transition will unlock new possibilities for our people, our operations, the community, and our future.
“We are looking forward to growing our presence in the Cobar region and will continue connecting with the local community through planned CSA initiatives,” Mr Boshoff said.
Harmony is one of the world’s leading gold producers with a proud 75-year operating history and more than two decades of experience in Australia and Papua New Guinea.
Harmony Chief Executive Officer, Beyers Nel said Harmony has a proven operating model of extending the life of mines through disciplined investment in their orebodies and their people.
“We are delighted to welcome the CSA mine employees to the Harmony family,” Mr Nel said.
“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.
“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.”
The integration of the CSA mine into the Harmony portfolio will now commence and, over the next three months, Harmony will be aligning CSA’s operations with their own planning and performance frameworks.
Mr Nel said this process is designed to unlock synergies, enhance operational efficiency, and position CSA to contribute meaningfully to Harmony’s long-term value creation.
