What's Happening?
MAC Copper Limited has announced the legal effectiveness of its acquisition by Harmony Gold Mining Company Limited through a Jersey law scheme of arrangement. The scheme involves the acquisition of 100% of MAC's issued share capital by Harmony Gold (Australia) Pty Ltd, a subsidiary of Harmony Gold Mining Company Limited. The scheme was sanctioned by the Royal Court of Jersey and is now effective, with MAC CDIs suspended from trading on the ASX and MAC Shares on the NYSE as of October 10, 2025. The scheme consideration will be paid to MAC security holders who hold shares or CDIs at the scheme record date, with implementation anticipated on October 24, 2025.
Why It's Important?
This acquisition marks a significant consolidation in the mining sector, potentially impacting stakeholders in the metals and mining industries. Harmony Gold's acquisition of MAC Copper Limited could enhance its portfolio and strengthen its position in the market, particularly in jurisdictions critical to global electrification and decarbonization efforts. The delisting of MAC from major exchanges like the NYSE and ASX may affect investors and market dynamics, influencing share prices and investment strategies in the sector.
What's Next?
Following the acquisition, MAC Copper Limited will be delisted from the NYSE and ASX, with the final delisting from the ASX scheduled for November 3, 2025. Investors and stakeholders will need to adjust to the new ownership structure and consider the implications for future investments. Harmony Gold may leverage MAC's assets to expand its operations and explore new opportunities in the mining industry.
