South African Billionaire Patrice Motsepe Acquires $1.01B Australian Copper Mine

South African billionaire Patrice Motsepe, through Harmony Gold, has successfully completed a major deal to acquire the CSA copper mine in New South Wales, Australia, for $1.01 billion. The acquisition of Mac Copper Limited strengthens Harmony Gold's interests in the copper sector, aligning with its long-term diversification strategy.

The deal is expected to boost Harmony Gold's copper output to around 40% of its total production by 2035. Patrice Motsepe, a prominent businessman, founded Harmony Gold in 1950 and has since led its growth and expansion.