MAC Copper Limited Secures Approval from South African Reserve Bank
MAC Copper Limited (NYSE:MTAL, ASX:MAC) is moving forward with its proposed acquisition by Harmony Gold (Australia) Pty Ltd, as the deal progresses through key regulatory and shareholder approval stages.
The acquisition, by way of a Jersey law scheme of arrangement, is strongly recommended by MAC's board of directors. Shareholders have until August 27, 2025, to vote on the proposed acquisition. The results of the shareholder vote will be announced at a combined court and general meeting scheduled for August 29, 2025.
Should shareholders approve, implementation of the acquisition is expected to begin in the fourth quarter of 2025, subject to remaining regulatory conditions and approvals.
Regulatory Milestones
Harmony Gold has already received regulatory clearance from the South Africa Reserve Bank, a crucial milestone allowing the deal to proceed. This approval confirms no objection to the scheme implementation and funding.
The acquisition process also involves satisfying other conditional elements, including obtaining all necessary consents and approvals from parties involved in related agreements such as the Silver Stream, Copper Stream, and Royalty Deed. Restructuring agreements with these counterparties have been finalized as part of this process.
Shareholder Vote and Updates
The dispatch of the detailed Scheme Circular to MAC shareholders and CDI holders has been completed, outlining full transaction details and voting instructions. The deadline for MAC Shareholders to be eligible to vote is 4:00 pm (New York time) on Tuesday, 29 July 2025.
The shareholder vote deadline is August 27, 2025, with the announcement of results and a general meeting on August 29, 2025.
MAC CEO, Mick McMullen, encourages all shareholders to vote in favor of the Scheme. For questions about the Scheme or the Scheme Circular, MAC's proxy solicitation firm, Sodali & Co, can be contacted toll-free in the US, outside the US, within Australia, and outside Australia for MAC CDI Holders.
MAC Copper Limited is a company focused on operating and acquiring metals and mining businesses in high-quality, stable jurisdictions that are critical in the electrification and decarbonization of the global economy.
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- The acquisition by Harmony Gold of MAC Copper Limited involves not just regulatory milestones, but also the approval of shareholders, as the finance sector plays a crucial role in the business dealings of both parties.
- As the proposed acquisition by Harmony Gold moves closer to completion, MAC Copper Limited, a company involved in the metals and mining industry, continues to focus on operating and acquiring businesses in high-quality, stable jurisdictions, critical for the electrification and decarbonization of the global economy.
