MAC Copper shares have traded flat following the announcement that it will be delisted from both the Australian Securities Exchange (ASX) and the New York Stock Exchange (NYSE). The delisting follows court approval of the takeover by South African miner Harmony Gold. MAC Copper is a copper producer focused on developing its copper resources. Harmony Gold is a gold mining company with operations primarily in South Africa and Papua New Guinea.
Friday marks the final day of trading for MAC Copper shares on the ASX. The company will be officially delisted from the ASX on November 3. Trading on the NYSE will cease sooner, with the delisting scheduled for October 24.
Harmony Gold is acquiring MAC Copper for US$12.25 per share, less than two years after MAC Copper’s initial listing on the ASX. The transaction received approval from the Royal Court of Jersey, where MAC Copper is registered. Prior regulatory approvals were granted by Australia’s Foreign Investment Review Board and the South Africa Reserve Bank in August.
Harmony Gold is known in Australia for its partnership with Newcrest in the Wafi-Golpu project in Papua New Guinea, which has faced delays. Harmony also operates the Hidden Valley mine in Papua New Guinea, previously owned by Newcrest before Newmont’s acquisition of Newcrest in 2023.
