Congratulations to Mick McMullen and the Metals Acquisition Corp team on closing the purchase of Glencore’s CSA Copper Mine in NSW, Australia.

Ashanti Capital is pleased to have acted as Joint Placement Agent alongside Citi and Canaccord Genuity Group Inc. in connection with the PIPE totaling US$230m.

MAC will assume ownership and full operational control of the mine immediately; Glencore will retain the offtake for 100% of the copper concentrate produced at the CSA copper mine.

It is our view that MAC will become the preferred mid-cap copper exposure on the ASX.

Mick commented, “OZ Minerals has gone from the ASX and left a huge gap. We are coming, we have already started working on an ASX prospectus and look, we have a board, management team and shareholder base that punches well above the weight of a ~50,000 tonne a year copper producer in Australia.”