- Harmony Gold acquires MAC Copper Limited, owner of the CSA Copper mine in Australia, for $1 billion.
- The deal strengthens Harmony’s portfolio with high-margin, long-life ore bodies and supports sustainable growth.
Harmony Gold acquisition
Harmony Gold Mining Company Limited has acquired MAC Copper Limited, which owns the CSA Copper mine in Cobar, New South Wales, Australia. MAC Copper shareholders approved the deal, and it received regulatory clearance from the South African Reserve Bank and the Australian Foreign Investment Review Board.
The CSA Copper mine is rich in high-grade copper. Harmony plans to apply its underground mining expertise to maximize the asset’s value. The acquisition marks a clear strategic shift as Harmony enters the copper market.
Also read: Inca warns Ofcom plan tilts market in Openreach’s favour
Also read: FTTH Council highlights challenges with copper network holdouts
Strategic significance
The acquisition helps Harmony diversify its portfolio and reduce exposure to gold price fluctuations. It also positions the company to benefit from rising copper demand, driven by renewable energy technologies and electric vehicles.
CEO Beyers Nel said the deal accelerates Harmony’s strategy of adding long-life, high-margin assets. He described CSA Copper as a “strategic lever” that enhances both resilience and geographic diversity.
Harmony also emphasises sustainability. The company maintains strong environmental, social, and governance (ESG) credentials and continues to be recognised in the FTSE4Good Index Series.
