South Africa’s Harmony Gold Mining Company has officially finalised its acquisition of MAC Copper Limited — owner of the high-grade CSA Copper Mine in New South Wales, Australia — marking a key milestone in the miner’s global expansion.
The transaction, first announced in May, was completed on 24 October 2025 via a Jersey law Scheme of Arrangement. Harmony paid US$12.25 per share (approximately R222), valuing the deal at US$1.01 billion (~R18.4 billion). The purchase was financed through a combination of Harmony’s cash reserves and a US$1.25 billion bridge facility.
Chief Executive Officer Beyers Nel said the acquisition positions the company as a diversified gold and copper producer, and welcomed the CSA mine’s workforce into the Harmony family. “This marks a significant milestone in our strategy to grow into a global gold and copper producer,” he stated.
The integration process of the CSA mine into Harmony’s operations will unfold over the next three months, during which the company will align the mine’s systems with its own planning and performance framework. Harmony expects the asset to contribute meaningfully to its long-term growth and earnings from the 2026 financial year onwards.
Highlights ahead include ventilation upgrades, new mine development and continued exploration at CSA, with a full update to be provided in Harmony’s half-year results presentation in early 2026.
Harmony, one of South Africa’s largest gold producers, marks its 75th anniversary this year and has operated in Australia and Papua New Guinea for over two decades. In its most recent financial results, the company reported a 14.1% rise in diluted headline earnings per share and an industry-leading 49.2% return on equity. The move into copper — a critical metal in the global energy transition — is expected to build on that momentum.
