Harmony Expands in Australia With $1 Billion MAC Copper Deal

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By Ana Monteiro, Katlego Mtshali, and William Clowes

May 27, 2025 at 6:27 AM UTC

Updated on

May 27, 2025 at 10:06 AM UTC

Harmony Gold Mining Co. agreed to buy MAC Copper Ltd. for $1.03 billion, enabling the top producer of South African gold to expand its exposure to copper in Australia.

Johannesburg-based Harmony said it’s offering $12.25 a share in cash, a 21% premium to MAC Copper’s closing price in New York on Friday. MAC Copper’s shares rose 20% in premarket trading.