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Harmony Gold Buys Mac Copper for $1 Billion to Expand into Copper

Harmony Gold Buys Mac Copper for $1 Billion to Expand into Copper

Harmony Gold, South Africa’s leading gold producer, has announced a $1.03 billion cash deal to acquire Australia’s Mac Copper Ltd.

This acquisition, offering a 20.7% premium to Mac Copper’s share price, gives Harmony control of the producing CSA Copper mine in New South Wales, which generated 41,000 tons of copper last year.

Funded through cash reserves and a loan, the deal expands Harmony’s footprint in copper, a move aimed at diversifying operations amid rising costs in South Africa. Harmony’s shares dipped 6.3% following the announcement.

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