MAC Copper Ltd Stock Price, News & Analysis

MAC Copper Limited (NYSE:MTAL) has announced a significant milestone in its proposed acquisition by Harmony Gold Mining Company Limited. The South African Reserve Bank's (SARB) Financial Surveillance Department has granted regulatory approval for the implementation of the Jersey law scheme of arrangement and Harmony's funding of the Scheme Consideration.

The transaction progress includes the completion of Restructuring Documents and the dispatch of the Scheme Circular to shareholders. Shareholders must vote by August 26, 2025 (MAC CDI Holders) and August 27, 2025 (MAC Shareholders). The Court Meeting and General Meeting are scheduled for August 29, 2025.

The MAC Directors unanimously recommend shareholders vote in favor of the scheme, subject to no Superior Proposal emerging. The transaction still requires approval from Australia's Foreign Investment Review Board, shareholder approval, and court sanction.

MAC Copper Limited (NYSE:MTAL) has announced the completion of the Scheme Circular dispatch regarding its proposed acquisition by Harmony Gold Mining Company Limited through its subsidiary. The circular details the Jersey law scheme of arrangement for Harmony's acquisition of 100% of MAC's issued share capital.

The company has scheduled key meetings for August 29, 2025, with the Court Meeting at 12:30 PM Jersey time and the General Meeting at 1:00 PM Jersey time. MAC Directors have unanimously recommended shareholders vote in favor of the scheme in the absence of a Superior Proposal. The Implementation Date is provisionally set for October 24, 2025, subject to conditions being met.

MAC Copper Limited (NYSE:MTAL) announced that the Royal Court of Jersey has ordered meetings of shareholders to consider the proposed acquisition of MAC by Harmony Gold Australia, a subsidiary of Harmony Gold Mining Company Limited. The transaction will be executed through a Jersey law scheme of arrangement.

The Court Meeting and General Meeting are scheduled for August 29, 2025, with the Court Meeting at 12:30 PM Jersey time and the General Meeting at 1:00 PM Jersey time. MAC's board of directors unanimously recommends shareholders vote in favor of the scheme, with directors holding 2.44% of shares committing their votes in support.

The Scheme Circular will be dispatched to shareholders on August 4, 2025. The company has postponed its Annual General Meeting to allow shareholders to focus on the acquisition proceedings.

MAC Copper (NYSE:MTAL) reported strong Q2 2025 performance with record operational achievements. The company produced 10,587 tonnes of copper, a 23% increase quarter-over-quarter, at an improved grade of 4.4% Cu. Notable highlights include record-low C1 costs of US$1.48/lb (23% decrease QoQ) and record operational free cash flow of ~US$42 million.

Safety performance improved significantly with TRIFR decreasing to 6.9 from 9.9 in Q1 2025. The company maintains its 2025 copper production guidance of 43,000-48,000 tonnes and targets production of over 50,000 tonnes per annum by 2026. Cash position strengthened to ~US$102 million, a 36% increase QoQ.

MAC Copper also provided updates on its pending acquisition by Harmony Gold Mining Company, with key regulatory approvals and shareholder votes scheduled for August 2025.

MAC Copper Limited (NYSE:MTAL) has provided an update on its proposed acquisition by Harmony Gold Mining Company Limited. The transaction will be executed through a Jersey law scheme of arrangement, with the First Court Hearing scheduled for July 30, 2025.

Key developments include the execution of Restructuring Documents with Harmony, OR Royalties, and Glencore regarding amendments to the Copper Stream, Silver Stream, and Royalty Deed. The transaction timeline indicates the Scheme Meeting will be held on August 29, 2025, followed by the General Meeting. The MAC board unanimously recommends shareholders vote in favor of the Scheme, with directors holding 2.4% of shares intending to support the proposal.

MAC Copper Limited (NYSE:MTAL) has announced the release date for its second quarter 2025 financial results, scheduled for Wednesday, July 23, 2025, after the New York market close (Thursday, July 24, 2025, before Sydney market open).

The company will host a conference call and webcast to discuss the results on July 23, 2025, at 7:00 PM New York time (July 24, 2025, at 9:00 AM Sydney time). Participants can access the webcast through the provided link and register for the conference call via the Diamond Pass registration system. A replay will be available through the webcast link and the Events section of MAC's website.

MAC Copper Limited (NYSE:MTAL) has entered into a binding agreement with Harmony Gold Mining for a complete acquisition valued at US$1.03 billion. Under the scheme, MAC shareholders will receive US$12.25 cash per share, representing a premium of 32.1% to the 30-day VWAP and 20.7% to the last closing price. The MAC board unanimously recommends shareholders vote in favor of the scheme. Key shareholders controlling 20.1% of shares have confirmed their support. The transaction requires approvals from Australia's Foreign Investment Review Board and South African Reserve Bank. The deal is expected to close in Q4 2025, with no financing or due diligence conditions attached.

MAC Copper reports Q1 2025 results with copper production of 8,644 tonnes at a 4.1% Cu grade. The company achieved significant safety improvements, reducing TRIFR to 9.9 from 14.2 in 2024. While Q1 production decreased 23.6% from Q4 2024, March 2025 set a new low C1 cost of $1.49/lb under MAC ownership.

Key financial highlights include successful debt refinancing with new facilities totaling $284 million, reducing debt costs by ~30% to 6.85%. The company maintains strong liquidity of $153.3 million and targets >50,000 tonnes annual copper production by 2026, representing a 23% growth.

Two major growth projects are underway: the Merrin Mine development (ore mining expected Q4 2025) and a ventilation project (completion targeted Q3 2026). The company's C1 costs increased to $1.91/lb in Q1 2025 from $1.66/lb in Q4 2024, primarily due to lower production volume, partially offset by reduced TC/RC benchmarks.

MAC Copper (NYSE: MTAL; ASX: MAC) has announced the filing of its Form 20-F for the fiscal year 2024 with the U.S. Securities and Exchange Commission on March 28, 2025. The document will be accessible through the company's website and the SEC's official portal.

Physical copies of the annual report will be made available starting April 15, 2025, and shareholders can request them at no cost through MAC Copper's investor relations website.