Metals Acquisition Limited Closes Purchase of the CSA Copper Mine
Metals Acquisition Limited (MAC) has completed the acquisition of Glencore's 100% interest in Cobar Management Pty Ltd., owner of the CSA copper mine in Australia. The deal, valued at $1.1 billion at its announcement in March 2022, involved a payment of $775 million in cash and $100 million in MAC ordinary shares to Glencore. MAC's shares and warrants are now trading on the NYSE under the ticker symbols MTAL and MTAL.W.
Metals Acquisition II Files for $200 Million IPO
Metals Acquisition II has filed with the SEC to raise $200 million through an IPO, offering 20 million units at $10 each. The SPAC, led by Executive Chair Michael McMullen and CFO Morne Engelbrecht, aims to acquire, operate, and finance assets in the metals and mining sector in stable jurisdictions. This follows the successful performance of its predecessor, Metals Acquisition, which merged with CSA Copper Mine and was later acquired by Harmony for A$1.1 billion.
Vedanta’s Rs 17,000 crore acquisition of Jaiprakash Associates gets CCI nod - The Economic Times
The Competition Commission of India (CCI) has approved Vedanta Limited's Rs 17,000 crore acquisition of debt-laden Jaiprakash Associates Limited (JAL). Vedanta emerged as the highest bidder for JAL, which operates in cement, real estate, and infrastructure, proposing an upfront payment of Rs 3,800 crore and subsequent annual installments. This acquisition follows JAL being admitted into insolvency proceedings in June 2024 due to significant debt.
MAC Copper Limited Acquisition by Harmony Gold Becomes Effective
MAC Copper Limited announced that its acquisition by Harmony Gold (Australia) Pty Ltd is legally effective as of October 10, 2025. This acquisition will lead to the suspension and eventual delisting of MAC CDIs on the ASX and MAC Shares on the NYSE. The scheme is expected to be implemented on October 24, 2025, with shareholder payments following in late October and early November.
MAC Copper Limited Announces Scheme with Harmony Becomes Effective
MAC Copper Limited announced that its scheme with Harmony Gold (Australia) Pty Ltd, a subsidiary of Harmony Gold Mining Company Limited, has become legally effective after the Royal Court of Jersey sanctioned the acquisition of 100% of MAC's issued share capital. Trading of MAC CDIs on the ASX and MAC Shares on the NYSE will be suspended from the close of trading on October 10, 2025. MAC Securityholders will receive Scheme Consideration, with implementation anticipated on October 24, 2025.
MAC Copper (MATL) Acquisition Gains Momentum with Key Regulatory Approval
Harmony Gold Mining Company Limited has received key regulatory approval from South Africa’s Reserve Bank for its acquisition of MAC Copper Ltd. This approval marks a significant step, though the acquisition still requires shareholder approval on August 29, 2025, and other conditions like Australian Foreign Investment Review Board clearance. MAC Copper's board unanimously recommends shareholders vote in favor of the deal, which aligns with its strategy to invest in metals and mining assets vital for global electrification and decarbonization.
A Major Lender's Bridge On The Way To Harmony Gold's Acquisition Of MAC Copper: Robust Value In Sight
Harmony Gold Mining (HMY) is rated a "Buy on dips" due to its $1.03 billion acquisition of MAC Copper, which is expected to diversify its portfolio and enhance long-term value. The acquisition is fully financed by HMY's cash and bridge loans from top global banks, indicating strong lender confidence. This move, particularly the addition of the CSA copper mine, positions HMY for growth in copper, a metal with high demand in emerging technologies.
Harmony Gold’s $1 Billion Bid for Metals Acquisition and CSA Copper Mine
Harmony Gold Mining has announced a US$1 billion bid to acquire Metals Acquisition Corp (MAC), marking a significant strategic shift towards critical minerals for the green energy transition. The acquisition centers on MAC's high-grade CSA copper mine in Australia, which boasts exceptional copper grades and extended mine life. This move by Harmony Gold, South Africa's largest gold producer, reflects a broader industry trend of diversification into copper and securing quality assets amidst an anticipated supply deficit and rising demand driven by the energy transition.
Metals Acquisition (ASX:MAC): It owns one of Australia's most famous copper mines and is being bought out for US$1bn
Metals Acquisition (ASX:MAC), which dual-listed on the ASX in February 2024 and owns the CSA copper mine in NSW, is being acquired by Harmony Gold Mining for US$1 billion. The acquisition highlights the increasing demand for copper due to the global push for net-zero emissions, with large mining companies opting for M&A to secure critical assets rather than investing in new, expensive projects. Metals Acquisition's board and key shareholders have unanimously backed the deal, which is expected to finalize by year-end.
MAC Copper Stock (MTAL): Harmony Gold Acquisition Pushes Value
MAC Copper Limited (NYSE: MTAL) has agreed to a $1.03 billion all-cash acquisition by Harmony Gold Mining Co (NYSE:HMY), offering shareholders $12.25 per share. This deal, which represents a 20.7% premium, aims to diversify Harmony Gold's portfolio with MAC Copper's CSA Copper Mine in Australia. The acquisition is pending regulatory approvals and a shareholder vote, with the stock surging over 22% after the announcement.
What the Harmony–MAC deal means for Aussie copper
Harmony Gold's $US1.03 billion acquisition of MAC Copper, which owns the CSA copper mine, marks a significant move to diversify Harmony's portfolio into a premium copper asset. This acquisition, coupled with Harmony's existing Eva copper project, positions the company to capitalize on the growing demand for copper in the clean energy sector and address the forecasted supply deficit. The MAC board has unanimously recommended the scheme, highlighting the attractive cash value for shareholders and the benefits of Harmony's expertise for the CSA mine and local community.
Harmony Gold to Acquire MAC Copper in $1.03 Billion Deal, Boosting Copper Exposure
Harmony Gold Mining Company Ltd. (NYSE: HMY) announced its plan to acquire MAC Copper Ltd. (NYSE: MTAL) in an all-cash deal worth $1.03 billion. This acquisition is set to expand Harmony Gold's involvement in the copper market, a crucial commodity for the energy transition, with MAC Copper's primary asset being the CSA Copper Mine in Australia. The deal includes Harmony repaying existing debt and assuming royalty obligations, offering a substantial premium for MAC Copper shares.
Metals Acquisition (MTAL) Approves Name Change to MAC Copper, Set for NYSE Trading
Metals Acquisition Limited (NYSE: MTAL; ASX: MAC) announced that its shareholders approved a name change to "MAC Copper Limited" at its 2024 Annual General Meeting. The company expects its ordinary shares to begin trading on the New York Stock Exchange under the new name on December 3, 2024, following necessary regulatory filings. This change reflects the company's focus on operating and acquiring metals and mining businesses critical to electrification and decarbonization.
Metals Acquisition Ltd announces annual meeting
Metals Acquisition Ltd has announced its 2024 Annual General Meeting via an SEC 6-K filing, providing details for shareholder engagement. This announcement follows recent company updates, including Q3 copper production figures, a successful institutional placement to repay debt, and varying analyst ratings from Scotiabank and BMO Capital Markets regarding its financial outlook and stock target. InvestingPro data highlights significant revenue growth but also notes the company's unprofitability over the last twelve months, which could be a key discussion point at the AGM.
Metals Acquisition Limited Announces June 2024 Quarterly Report
Metals Acquisition Limited (MAC) reported record quarterly copper production of 10,864 tonnes and US $21 million in operational free cash flow under its ownership for the June 2024 quarter. The company achieved a 20% increase in copper grade to 4.2% and saw cash and cash equivalents rise by 25% to US $88.6 million. Despite a planned April maintenance shutdown, MAC's CSA Copper Mine operations exceeded expectations, improving production consistency and reducing C1 cash costs.
Metals Acquisiton and Polymetals Alliance
Polymetals Resources Ltd (ASX: POL) has formed a non-exclusive strategic alliance with Metals Acquisition Limited (ASX: MAC) to enhance value from their respective Endeavor and CSA Copper Mines in the Cobar Basin, NSW Australia. The alliance includes MAC investing up to $5.0 million in POL, an agreement to treat high-grade zinc ore at Polymetals' Endeavor Silver Zinc Mine, and POL providing MAC with excess water to boost CSA's ore treatment capacity. This collaboration aims to achieve mutual operational and financial benefits, increase mine production, and support the restart of the Endeavor mine, creating jobs and economic injection for the local community.
Q+A: Why Metals Acquisition's Mick McMullen wants to breathe new life into Australia's highest grade copper mine
Mick McMullen, CEO of Metals Acquisition (ASX:MAC), discusses the company's strategy to revitalize Australia's highest-grade copper mine, CSA, in Cobar, NSW. Metals Acquisition, which recently completed a $325 million IPO, acquired the mine from Glencore and aims to increase production and extend its lifespan. McMullen, known for asset turnarounds, emphasizes the value of Tier-1 jurisdictions and the company's focus on identifying opportunities to create shareholder value through acquisitions.
Aterian completes acquisition of Atlantis Metals
Aterian Plc has finalized its acquisition of a 90% interest in Atlantis Metals (Pty) Ltd, a Botswana-registered entity holding mineral prospecting licenses. This acquisition significantly expands Aterian's exploration landholding in the Kalahari Copperbelt, including six newly awarded copper-silver prospecting licenses, and aligns with its strategy to focus on critical metals like copper and lithium in stable African jurisdictions. The company now holds a portfolio of ten strategically located copper-silver and lithium projects in Botswana and plans continued exploration efforts.
Gilbert + Tobin advises on Metals Acquisition Limited oversubscribed and upsized IPO and dual listing on the ASX
Gilbert + Tobin advised Metals Acquisition Limited (MAC) on its oversubscribed and upsized Initial Public Offering (IPO) and dual listing on the Australian Securities Exchange (ASX), raising A$325 million. MAC, a NYSE-listed company, purchased the CSA copper mine in Cobar, New South Wales, and the IPO proceeds will fund its development, a deferred payment to Glencore, and growth opportunities. The complex transaction involved listing a Jersey-incorporated, NYSE-listed company on the ASX.
Metals Acquisition Ltd Dual Lists on ASX Following Upsized A$325 million IPO
Metals Acquisition Limited (MAC) has successfully dual-listed on the ASX, following an oversubscribed IPO that raised A$325 million, making it the largest mining listing on the ASX in over five years. The company, already listed on the NYSE, will use the proceeds to develop its CSA Copper Mine in NSW, repay deferred payments to Glencore, and pursue growth opportunities. MAC aims to become a leading mid-tier, multi-asset producer of critical metals for the global economy's decarbonization, leveraging its strong management team and a disciplined acquisition strategy.
Metals Acquisition Ltd Dual Lists on ASX Following Upsized A$325 million IPO
Metals Acquisition Limited (MAC) has dual-listed on the ASX under the code 'MAC', following an upsized A$325 million IPO, making it the largest mining listing on ASX in over five years. The company, already listed on the NYSE (MTAL), raised funds for further development of its CSA Copper Mine in NSW, a deferred payment to Glencore, and future growth opportunities, pursuing its goal of becoming a leading mid-tier, multi-asset producer of critical metals. MAC's CEO Mick McMullen emphasized the importance of the Australian listing for pursuing growth opportunities and building shareholder value while maintaining focus on ESG stewardship and safe operations.
Metals Acquisition Corp. (MTAL) Completes CSA Copper Mine Acquisition
Metals Acquisition Corp. (MTAL) has finalized its acquisition of Glencore's CSA Copper Mine in Australia. The shares and warrants of the combined company will now trade on the NYSE under the "MTAL" and "MTAL.W" ticker symbols. The deal, valued at $1.1 billion initially, involved significant financing adjustments and PIPE contributions, with Glencore receiving $775 million in cash, $100 million in Metals shares for a 20.6% stake, and future contingent payments and royalties.
Metals Acquisition clinches $1.1 bln deal for Glencore's CSA copper mine
Metals Acquisition Corp has acquired Glencore's CSA copper mine in Australia for $1.1 billion, winning a years-long race for the asset. The deal allows Glencore to continue streamlining its portfolio and provides Metals Acquisition access to a high-grade copper mine, a critical commodity for electric vehicle production and the global energy transition. Metals Acquisition will fund the deal through IPO proceeds and debt, with Glencore receiving both cash and shares.
Metals Acquisition clinches $1.1 billion deal for Glencore’s CSA copper mine
Metals Acquisition Corp has secured a $1.1 billion deal to acquire Glencore's CSA copper mine in Australia, outbidding competitors like IGO Ltd. The acquisition provides access to a high-grade copper mine expected to produce 41,000 to 49,000 tonnes of copper annually, capitalizing on strong demand fueled by electric vehicle production. For Glencore, this sale contributes to its business streamlining efforts, with analysts noting the attractive price received for the asset.
Metals Acquisition Corp. To Acquire CSA Copper Mine From Glencore - Quick Facts
Metals Acquisition Corp. has agreed to acquire the CSA Copper Mine from Glencore for $1.10 billion. The deal includes $1.05 billion in cash, $50 million in common equity, and a 1.5% copper Net Smelter Return (NSR). The CSA mine is a high-grade, long-life underground copper mine in Australia.
