Harmony Gold agrees to buy MAC Copper for about $1bn

Harmony offered $12.25 a share in cash, a 20.7% premium, for MAC Copper, whose only asset is the CSA copper mine in New South Wales. CSA is one of Australia’s highest-grade copper mines and, at 1.9 km, one of its deepest.

Why it matters. A gold miner buying copper diversifies its revenue, but its shareholders must accept a different commodity risk.

Source

MINING.COM

In the course

Module 9: The M&A process