PT ABM Investama Tbk. (ABMM) is exploring opportunities for diversification by acquiring a gold mine.
ABM Investama Director Hans Christian Manoe stated that ABMM is currently eyeing potential gold mines for acquisition.
"We are slowing down for now, but if there is an acquisition opportunity this year, we will take it," said Hans during ABMM’s Media Gathering in Jakarta on Thursday (March 6, 2025).
He further explained that ABMM is unlikely to acquire a gold mine outright at 100%. According to him, ABMM plans to enter the gold mining sector gradually as a minority shareholder, with an ownership stake of around 25%-30%.
"Once we are able to increase our ownership, we will. But initially, it might be a small stake," he added.
However, Hans did not disclose the location of the gold mine ABMM is targeting for acquisition.
Hans also mentioned that ABMM aims to have a diversified EBITDA composition by 2030, where not all of it will come from coal, but also from the company’s non-coal business segments. On the other hand, he emphasized that ABMM currently has a policy of not entering the nickel business.
Recently, ABMM, through its subsidiary, announced plans to acquire shares in PT Piranti Jaya Utama for USD 57 million, equivalent to IDR 939.36 billion (based on an exchange rate of IDR 16,480 per USD). The acquisition transaction was conducted by ABMM’s subsidiary PT Reswara Minergi Hartama (RWA).
On March 3, 2025, Reswara Minergi Hartama signed a Share Purchase Agreement (PPJB) for shares in PT Piranti Jaya Utama (PJU).
The acquisition agreement consists of two transactions. First, Reswara Minergi Hartama signed a PPJB with PT Tuah Turangga Agung (TTA) for the purchase of 100% of TTA’s shares in PT Borneo Berkat Makmur (BBM).
TTA is a subsidiary of PT United Tractors Tbk. (UNTR). BBM directly holds a 60% stake in Piranti Jaya Utama.
Second, Reswara Minergi Hartama signed a PPJB with Borneo Prima Pte Ltd, Edward Sumarli, and Herry Hermawanto for their ownership stakes in PT Borneo Berkat Sentosa (BBS). BBS is a direct shareholder of Piranti Jaya Utama with a 40% stake.
