MAC Copper Limited Announces Timetable for Acquisition by Harmony Gold

What's Happening?

MAC Copper Limited has announced the closing timetable for its acquisition by Harmony Gold (Australia) Pty Ltd, a subsidiary of Harmony Gold Mining Company Limited. The acquisition will be executed through a Jersey law scheme of arrangement. The timetable outlines key dates, including the cessation of conversion of MAC CDIs into MAC Shares and vice versa on October 9, 2025, and the effective date of the scheme on October 10, 2025. Trading in MAC CDIs on the ASX and MAC Shares on the NYSE will cease on October 10, 2025, with delisting processes beginning shortly thereafter. The final delisting of MAC from the ASX is scheduled for November 3, 2025. Payments to shareholders and CDI holders will be made in accordance with existing payment instructions.

Why It's Important?

This acquisition is significant as it represents a strategic move by Harmony Gold to expand its operations in the metals and mining sector, particularly in jurisdictions critical to the electrification and decarbonization of the global economy. The transaction could impact shareholders and CDI holders of MAC Copper Limited, as they will receive payments based on their holdings. The acquisition may also influence the market dynamics within the mining industry, potentially affecting stock prices and investment strategies. Stakeholders in the mining and metals sectors will be closely monitoring the implementation of this scheme and its implications for future mergers and acquisitions.

What's Next?

Following the court's sanctioning of the scheme, MAC Copper Limited will proceed with the outlined timetable, including the cessation of trading and delisting from major stock exchanges. Shareholders and CDI holders will receive their payments according to the schedule, with the final delisting from the ASX expected by early November 2025. The market will likely observe the integration process of MAC Copper into Harmony Gold's operations, assessing the impact on production capabilities and market share. Regulatory bodies and investors will be attentive to any changes in the company's strategic direction post-acquisition.