On 10 October 2025 the Royal Court of Jersey issued orders sanctioning the proposed acquisition of 100% of MAC Copper Limited’s issued share capital by Harmony Gold (Australia) Pty Ltd, a wholly‑owned subsidiary of Harmony Gold Mining Company Limited. The orders confirm the scheme of arrangement under Jersey law, effectively approving the transaction and marking the final regulatory step in the deal that began with Harmony’s binding agreement in May 2025.
The scheme will see Harmony Gold acquire all MAC shares and CDIs in a cash transaction, with the terms outlined in the Scheme Circular issued on 31 July 2025. The court orders were made today, and the scheme will become legally effective when the orders are lodged with the Jersey Registrar of Companies. This approval finalizes the acquisition framework that will deliver a $1.08 billion value to MAC Copper shareholders.
The sanctioning of the scheme means that MAC Copper shareholders will receive the agreed consideration and that the company will be delisted from the NYSE and ASX following the completion of the transaction. The court’s decision also confirms that all regulatory conditions precedent have been satisfied, including approvals from the South African Reserve Bank and the Foreign Investment Review Board. This development finalizes the transaction that will create a $1.08 billion value for MAC Copper shareholders.
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