# Metals Acquisition Corp. II

Metals Acquisition Corp. II is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2025
- **Assets under management:** Undisclosed
- **Website:** mtalcorp.com

## Regulatory record

- **Reports private funds:** No

## About

Metals Acquisition Corp. II registered with the SEC in April 2025 and completed its initial public offering on NYSE American in June 2025, raising $250 million from public investors (per the firm's SEC filings, 2025). Led by CEO Mick McMullen and CFO Morné Engelbrecht, the blank-check company explicitly targets the critical-minerals sector — copper, lithium, nickel, rare earths — where McMullen's prior SPAC, Metals Acquisition Corp. I, successfully combined with the CSA copper mine in New South Wales, Australia in June 2023. MAC II invests via a single SPAC structure at the corporate level, seeking a minority or majority stake in a production-stage or near-production mining asset. The strategy does not employ a fund-of-funds, club-deal, or separate managed account model. MAC I demonstrated the blueprint: raise public equity, then acquire an operating asset that generates cash flow immediately — CSA Mine produced approximately 40,000 tonnes of copper in 2023. McMullen and Engelbrecht are the core team, operating from New York with deal-sourcing support from mining industry networks built during the MAC I process. No additional offices or adjacent investment vehicles — such as a permanent capital vehicle or philanthropic foundation — have been disclosed. The SPAC raised funds through a standard unit structure of Class A ordinary shares and warrants. June 2025: Completed MAC II IPO at $250 million, pricing 25 million units at $10.00 per unit on NYSE American (per SEC filings and exchange data, 2025). The structural differentiator for MAC II is not the SPAC wrapper itself but the operator-led repeat-sponsor model. McMullen sourced, acquired, and now oversees the MAC I asset as CEO of the combined company — a path that blurs the line between financial sponsor and mining operator.

## Sectors

- Metals & Mining
- Energy Transition & Renewables

## People

- Mick McMullen — Chief Executive Officer
- Morné Engelbrecht — Chief Financial Officer

## Questions

### What is the relationship between MAC II and MAC I?

Metals Acquisition Corp. II is a successor SPAC managed by the same sponsor team that formed Metals Acquisition Corp. I. MAC I completed a business combination with the CSA copper mine in Australia in June 2023, and shares of the combined company trade on NYSE. MAC II is a separate entity with a new $250 million trust, raised in June 2025, and no cross-ownership with MAC I's operating assets.

### What kind of mining assets does MAC II target?

MAC II focuses on critical-minerals assets aligned with the energy transition — primarily copper, lithium, nickel, and rare earths. The SPAC's prospectus specifies a preference for production-stage or near-production assets in mining-friendly jurisdictions such as the US, Canada, Australia, Chile, and Peru. Early-stage exploration projects are not the stated target.

### Who runs Metals Acquisition Corp. II?

Mick McMullen serves as CEO and director; he was previously CEO of MAC I and is a mining engineer by background. Morné Engelbrecht is the CFO, having held the same role at MAC I. Both are named in the MAC II S-1 registration statement filed in April 2025 and subsequent amendments.

### Does MAC II operate as a fund or a holding company?

MAC II is structured as a special purpose acquisition company — a listed blank-check vehicle. It holds $250 million in trust pending a single acquisition of a mining business. It is not a diversified fund, does not make multiple investments, and has no permanent capital beyond the trust. Post-combination, the surviving entity will be an operating mining company.

### Has MAC II disclosed any specific acquisition targets?

As of the June 2025 IPO pricing, MAC II had not publicly identified a specific acquisition target. SPAC regulations prohibit pre-IPO deal negotiations that have progressed to a definitive agreement, though the sponsor's network in the mining sector — evidenced by MAC I's CSA deal — is the primary stated sourcing advantage.

## Related profiles

- [Nature's Sunshine](https://altss.com/profile/natures-sunshine-products-inc)
- [PIMCO Income Strategy Fund](https://altss.com/profile/pimco-income-strategy-fund)

---

Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/metals-acquisition-corp-ii

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology