South African billionaire and mining magnate Patrice Motsepe has strengthened his international business footprint after Harmony Gold, the country’s largest gold producer, finalized a landmark $1.01 billion acquisition of MAC Copper Limited the owner of the CSA Copper Mine in New South Wales, Australia. The deal, one of Harmony Gold’s biggest international expansions to date, marks a significant milestone in South Africa’s mining sector and underscores Motsepe’s growing influence on the global commodities stage.
The acquisition, which was initially announced on May 25, 2025, was officially completed on Friday through a Jersey law Scheme of Arrangement. Under the agreement, Harmony Gold acquired all of MAC Copper’s securities at $12.25 per share, giving the company a total equity value of $1.01 billion, or approximately R18.4 billion.
This move not only diversifies Harmony Gold’s mining portfolio but also reinforces its strategic push beyond traditional gold production into other lucrative minerals such as copper, which has become increasingly valuable in the global shift toward renewable energy and electric vehicle manufacturing. Industry analysts have hailed the acquisition as a bold and forward-looking step that positions Harmony Gold to benefit from rising global demand for base metals essential to green technology.
For Motsepe, who became South Africa’s first black billionaire and remains a dominant figure in the African mining landscape, the deal signals continued confidence in the long-term growth of the mining industry despite global economic uncertainty. His leadership through Harmony Gold and other ventures has consistently demonstrated a commitment to both profitability and sustainability, placing South Africa firmly on the global mining map.
With this acquisition, Harmony Gold gains direct access to one of Australia’s most productive copper assets, further boosting its international operational capacity and shareholder value. The move also reflects Motsepe’s strategy of leveraging South African expertise and capital to compete in major global markets.
As Harmony Gold takes full control of MAC Copper Limited, expectations are high for increased production output, stronger earnings diversification, and a more resilient global presence. The $1.01 billion investment cements Patrice Motsepe’s reputation as one of Africa’s most visionary business leaders driving South African mining into a new era of international expansion and innovation.
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