Welcome to our dedicated page for MAC Copper news (Ticker: MTAL), a resource for investors and traders seeking the latest updates and insights on MAC Copper stock.
This page provides an archive of news and company announcements for MAC Copper Limited, historically listed on the NYSE under the symbol MTAL and on the ASX under the symbol MAC. MAC Copper Limited described its business focus as operating and acquiring metals and mining businesses in high quality, stable jurisdictions that are critical to the electrification and decarbonization of the global economy.
The news flow for MAC Copper Limited includes detailed updates on the recommended transaction under which Harmony Gold (Australia) Pty Ltd, a wholly owned subsidiary of Harmony Gold Mining Company Limited, agreed to acquire 100% of the issued share capital in MAC by way of a Jersey law scheme of arrangement. Announcements cover court directions, dispatch of the scheme circular, shareholder meetings and voting results, regulatory approvals from authorities such as the South African Reserve Bank and Australia’s Foreign Investment Review Board, and the Royal Court of Jersey’s sanction of the scheme.
Investors can also review operational and financial updates, such as MAC Copper Limited’s June 2025 quarterly activities report. That report discusses safety performance, copper production volumes and grades at the CSA Copper Mine, cost metrics, operational free cash flow, liquidity, and progress on growth and development projects, as well as commentary from the company’s chief executive officer.
Later announcements describe the scheme becoming legally effective after lodging the Royal Court’s order with the Jersey Registrar of Companies, the suspension of trading in MAC CDIs on the ASX and MAC shares on the NYSE, and the indicative timetable for delisting and payment of scheme consideration. Together, these news items document MAC Copper Limited’s transition from a listed foreign private issuer to a wholly owned subsidiary of Harmony Gold Mining Company Limited.
Users interested in MTAL-related news can use this archive to trace the company’s corporate actions, regulatory milestones, and operational updates over time.
Metals Acquisition (NYSE: MTAL; ASX: MAC) has announced the release of its half year accounts 2024 results on Wednesday, August 28, 2024, after market close (New York time) / Thursday, August 29, 2024, before market open (Sydney time). The company will host a conference call and webcast to discuss the results on Wednesday, August 28, 2024, at 7:00 pm (New York time) / Thursday, August 29, 2024, at 9:00 am (Sydney time).
Participants can access the webcast through a provided link, and there are options for both expedited access and operator-assisted dial-in for the conference call. A replay of the webcast will be available for three months via the webcast link or by visiting the Events section of the company's website.
Metals Acquisition (NYSE:MTAL; ASX:MAC) has reported significant drill results from its CSA Copper Mine, including high-grade copper intersections in QTS North (QTSN) and QTS Central (QTSC). Notable results include 22.1m @ 9.8% Cu and 24.2m @ 7.8% Cu from QTSN. The company also reported promising zinc-lead-copper results from the Upper Pb-Zn Eastern and Western Lenses.
CEO Mick McMullen highlighted that these results confirm and expand known mineralization, potentially upgrading Inferred resources to Measured and Indicated categories. The drilling program aims to extend resources beyond current mining levels and prepare shallow areas like QTSS Upper for future mining. These results will be incorporated into the 2024 Resource and Reserve Estimate update.
Metals Acquisition (NYSE: MTAL; ASX: MAC) reported a record quarterly copper production of 10,864 tonnes, a 24% increase QoQ, despite a major maintenance shutdown in April. The company achieved a copper grade of 4.2%, up 20% from the previous quarter. C1 cash costs decreased to $1.92/lb, and total cash costs to $2.62/lb, improving by 11% and 17% respectively. MAC generated operational free cash flow of ~$21 million, with cash and equivalents increasing by 25% to $88.6 million. Unaudited preliminary revenue was ~$78 million, up 18% QoQ. MAC also made a strategic investment in Polymetals and simplified its capital structure. The company's safety performance showed improvement, with zero recordable injuries in June.
Metals Acquisition (NYSE: MTAL; ASX: MAC) has announced changes to its Board of Directors. Ms Anne Templeman-Jones has been appointed as an Independent Non-Executive Director, bringing extensive experience from various industries, including banking and finance. She currently serves on the boards of Commonwealth Bank of Australia and Trifork Ag.
Mr Mohit Rungta has been appointed as the new Glencore nominee to MAC's Board, replacing Mr Matt Rowlinson and Mr John Burton. This change follows Glencore's current 13.5% interest in MAC, entitling them to one nominee. The appointments are expected to bring valuable expertise and guidance to the company's operations and strategic direction.
Metals Acquisition (NYSE: MTAL; ASX: MAC), based in Jersey, Channel Islands, announced it will release its second quarter 2024 results on July 22, 2024, after market close in New York and before market open in Sydney on July 23, 2024. The company will host a conference call and webcast to discuss these results on July 22 at 7:00 pm (New York time) and July 23 at 9:00 am (Sydney time). Attendees can access the webcast through a provided link or join the call via specific phone numbers. A replay of the call will be available until October 20, 2024.
Metals Acquisition (MTAL) has redeemed all its outstanding public and private placement warrants. This redemption, announced on May 6, 2024, was completed by June 5, 2024, at $0.10 per warrant. Approximately 99.82% of the warrants were exercised, resulting in the issuance of 4,701,071 ordinary shares, increasing the total to 74,055,263. The redemption led to a 6.35% dilution of existing shares and $11,799 in cash received. Notably, MTAL is set to join the Russell 3000® Index on July 1, 2024, enhancing its market visibility and investor interest. Major shareholders include Glencore, BlackRock, and Osisko Bermuda.
Metals Acquisition (NYSE: MTAL; ASX: MAC) announced a strategic investment in Polymetals Resources (ASX: POL). MAC will invest A$5 million in POL at A$0.35/share, initially acquiring a 4.31% interest. Additional investments are contingent on POL securing funding to restart the Endeavour mine and signing agreements for zinc ore treatment and water offtake. MAC will have the right to appoint a director to the POL board if it holds over 7% shares. POL owns the Endeavour mine, which has produced significant silver, zinc, and lead. The investment aligns with MAC’s strategy to increase value through cooperation in the Cobar Basin, utilizing Endeavour's infrastructure to process high-grade zinc and securing water resources for the CSA Copper Mine. The partnership leverages POL's experienced management team to optimize mining operations.
Metals Acquisition (NYSE: MTAL; ASX: MAC) has announced the 'Redemption Fair Market Value' for its public and private placement warrants to purchase ordinary shares. The redemption price is set at $0.10 per warrant, and holders can choose to exercise their warrants for cash at $11.50 per share or on a cashless basis before the redemption deadline at 5:00 p.m. New York City time on June 5, 2024. The 'Redemption Fair Market Value' is $13.33, which means holders exercising their warrants on a cashless basis will receive 0.3063 ordinary shares per warrant. Any unexercised warrants will become void after the deadline.
Metals Acquisition (NYSE: MTAL; ASX: MAC) announces redemption of Public and Private Placement Warrants, aiming to simplify its capital structure and balance sheet. Warrant holders have options to exercise, surrender for cashless redemption, or take no action. The Warrants include Public and Private Placement Warrants to purchase Ordinary Shares, with a redemption price of $0.10 per Warrant. The Company is entitled to redeem Warrants due to the Reference Value exceeding $10.00 per share and being less than $18.00 per share. The Notice of Redemption has been delivered by Georgeson to registered Warrant holders, specifying the deadline for exercise and surrender of Warrants. The Company has decided to redeem the Warrants to remove dilution uncertainty, simplify financial statements, increase liquidity on NYSE and ASX, provide additional free float for inclusion in indices, and simplify the capital structure.
Metals Acquisition (NYSE: MTAL; ASX: MAC) reported a strong quarter with progress on ASX listing, mine life extension, and solid production despite a power outage. Key highlights include a 67% increase in mine life, 64% increase in contained copper, and 42% increase in copper reserves. The company raised US$214 million in an ASX IPO, repaid US$127 million in liabilities, and had ~US$100 million in liquidity. However, production was down 11% due to power outage and lower grades, leading to an increase in C1 cash costs. Exploration drilling is ongoing, and the company announced a three-year copper production guidance. The CEO highlighted plans for future growth and welcomed a new CFO.