Harmony secures full ownership of CSA copper mine

By Boitumelo Tshehle

Harmony Gold Mining Company Limited has successfully completed its acquisition of MAC Copper Limited (“MAC”), owner of the high-grade CSA copper mine in New South Wales, Australia, through its wholly owned Australian subsidiary, Harmony Gold (Australia) Pty Limited.

The deal, initially announced on May,27,2025, was finalised today, October 24, via a Jersey law Scheme of Arrangement under Article 125 of the Companies (Jersey) Law 1991.

Harmony acquired 100% of MAC’s securities at US$12.25 per share, valuing the transaction at approximately US$1.01 billion (R18.4 billion). The acquisition was funded using cash reserves and a US$1.25 billion bridge facility.

“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. Our proven operating model, extending the life of mines through disciplined investment in our orebodies and our people , has consistently delivered long-term value for all stakeholders, making us the partner of choice wherever we operate.

We are delighted to welcome the CSA mine employees to the Harmony family. 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,” said Harmony Chief Executive Officer, Beyers Nel.

Integration of the CSA mine into Harmony’s portfolio will begin immediately. Over the next three months, the mine will be aligned with Harmony’s operational frameworks to unlock synergies, enhance efficiency, and position CSA to contribute to long-term value creation.

A detailed update on operational performance and development milestones, including the ventilation project, upper Merrin mine development, and exploration activities through December 2025, will be provided at Harmony’s half-year results (H1FY26) presentation in late February or early March 2026. At that time, FY26 production guidance will also be updated to include CSA mine figures.

Harmony’s planning parameters for FY27 will be applied to the CSA mine to develop its FY27 life-of-mine plan, consistent with the approach used across its other operations. The CSA mine life-of-mine plan will be published alongside Harmony’s FY26 results in August 2026.