Harmony Gold's MAC Copper acquisition approved by shareholders

Harmony Gold Company Limited announced that MAC Copper Limited shareholders approved the sale of 100% of its share capital to Harmony Gold (Australia) Pty Ltd. This approval, granted on September 1, 2025, follows regulatory clearances from the South African Reserve Bank and the Australian Foreign Investment Review Board. The acquisition is expected to finalize, with Harmony taking control, by the end of October 2025.

The acquisition of MAC Copper, owner of the high-grade CSA Copper mine in Australia, is set to be immediately cash flow positive for Harmony. The CSA mine will add approximately 40,000 tonnes of high-quality copper per annum to Harmony’s portfolio, strengthening its exposure to future-facing metals.

Harmony’s chief executive, Beyers Nel, highlighted that this move accelerates the company's strategy for high-margin, long-life ore bodies, enhancing cash flow resilience and geographic diversity. The transaction will be funded through a mix of cash, debt facilities, or debt instruments, leveraging Harmony's balance sheet while maintaining financial flexibility.