South Africa’s richest black billionaire, Patrice Motsepe, has completed a major deal through Harmony Gold, South Africa’s largest gold producer, finalizing the $1.01 billion acquisition of MAC Copper Limited, the owner of the CSA Copper Mine in New South Wales, Australia.
The transaction was finalized on October 24, 2025, through a Jersey law Scheme of Arrangement, where Harmony Gold purchased all of MAC Copper’s securities at $12.25 per share.
This acquisition marks a significant milestone in Harmony Gold’s global expansion strategy, supporting its long-term diversification plan aimed at balancing gold and copper production.
By 2035, the company expects copper to contribute around 40% of its total output, aligning with global decarbonization efforts and the growing demand for base metals essential to energy transition technologies.
