MAC Copper Limited
MAC.AX
Australian Securities Exchange18.52
AUD
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MAC Copper Limited
MAC.AX
(Australian Securities Exchange)
Recent
price
18.52
P/E
ratio
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div
yld
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ROIC.AI
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- Business
- MAC Copper Limited is a Jersey-based mining company primarily engaged in operating and acquiring metals and mining businesses with a focus on copper production in high-quality, stable jurisdictions critical to the electrification and decarbonization of the global economy. The company’s core asset is the CSA copper mine located near Cobar in New South Wales, Australia, which is one of Australia’s highest-grade copper mines, producing approximately 40,000 tonnes annually. MAC Copper’s product offerings consist mainly of copper concentrate derived from underground mining operations at the CSA mine. Founded in 2022, MAC Copper Limited commenced operations by acquiring the CSA copper mine from Glencore PLC in June 2023. The company targets markets that require copper for applications in renewable energy, electric vehicles, and other clean technologies. MAC Copper’s business segments focus on metals and mining, with operations concentrated in Australia but with a corporate presence in Jersey for strategic and financial management. The latest major company development is the acquisition of MAC Copper Limited by Harmony Gold Mining Company Limited, completed in October 2025 in a transaction valued at approximately USD 1.03 billion. This strategic move gave Harmony Gold full ownership of the CSA mine, thereby securing immediate copper production capabilities and diversifying Harmony's primarily gold-focused portfolio to include significant copper assets. The acquisition aligns with Harmony’s strategy to expand its copper portfolio amid rising demand driven by global electrification and decarbonization trends. The integration includes operational improvements and efforts to optimize production, lower costs, and extend mine life, with MAC Copper's copper production guiding Harmony's expected output of over 50,000 tonnes by 2026. This acquisition also led to the delisting of MAC Copper shares from the ASX and the NYSE in late 2025. MAC Copper Limited’s principal subsidiary is Metals Acquisition Corp. (Australia) Pty Ltd, supporting its mining operations in Australia. Its operations and sales are primarily focused on copper, with all copper concentrate production sold to a single key customer, supporting its near-term revenue and cash flow streams. The company historically reports strong operational performance with ongoing improvements in production and cost efficiencies prior to its acquisition. Overall, MAC Copper Limited is specialized in high-grade copper mining, with a strategic positioning that capitalizes on the global transition to clean energy through its key asset, the CSA copper mine in Australia, and has recently undergone significant corporate restructuring through its acquisition by Harmony Gold Mining Company Limited to enhance shareholder value and operational scope.
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