New Copper Player coming to town in 2024

Came across this extract from an article whilst conduction my own research, looks like a new player is strolling into town!

2024 might be just be the start of things hotting up in the Copper space?

A new Oz Minerals might be coming to town????

Good luck to all holders.

Cheers Aussie

Since Metals Acquisition Limited (MAC) entered the Australian market by acquiring the CSA copper mine in New South Wales, the company has had its sights set on an ASX listing.

Metals Acquisition chief executive officer Mick McMullen said as much during an Australian Mining interview in August.

Now the company has set the ASX wheels in motion, with The Australian Financial Review (AFR) reporting that the New York-listed outfit is preparing for a February  ASX listing, with Barrenjoey Capital and Canaccord Genuity enlisted as joint lead managers.

The AFR believes MAC could be on the hunt for a couple of hundred million dollars for its ASX listing, which would support its continued expansion in Australia.

McMullen has indicated that MAC has the backing to be run as an OZ Minerals- style business.

“The last thing (Metals Acquisition chair) Nev Power ran was Fortescue,” he told Australian Mining. “The last thing I ran was double the size of the Super Pit. And our big anchor (equity) investors, there’s six big funds, and one of them gave us $US50 million, another one $US45 million.

“They are backing us to recreate an OZ Minerals-style business because there’s a huge gap in the market.”

MAC could look to grow its portfolio by acquiring the Northparkes copper-gold mine in NSW, with the company focused on copper as its core commodity going forward.

And closer to home, there is plenty of potential to grow CSA’s output. While the mine produced 9845 tonnes of copper in the September quarter under MAC’s ownership, the company has ambitions to produce 50,000 tonnes of copper from the asset in 2024.