Petrosea (PTRO) Acquires Gold Mining Contractor

PT Petrosea Tbk (PTRO) announced on Friday (August 1, 2025) that it has signed a conditional share sale and purchase agreement to acquire all shares of HBS (PNG) Limited and its subsidiaries (HBS Group) for a total transaction value of AUD 40 million, or approximately USD 25.76 million.

The agreement will become effective upon the comprehensive fulfillment of all conditions. HBS Group is a key player in providing mining and construction services, heavy equipment solutions (including the distribution of equipment, machinery, and spare parts), and property services in Papua New Guinea since 2006.

HBS Group has a long history of strong partnerships and collaborations with key players in the mining sector, particularly in gold minerals. Currently, the HBS Group serves several large-scale gold mining projects in Papua New Guinea.

The integration of capabilities and partnerships will provide immediate benefits, allowing the HBS Group to expand its service scope for current projects and for more diverse and larger potential projects in the future.

"This transaction is part of the company's business development strategy to expand internationally and diversify into the gold mineral sector. This acquisition is expected to strengthen the company's performance and position, as well as create operational synergy between Indonesia and Papua New Guinea," said Petrosea President Director Michael in an official statement on Friday (August 1, 2025).

A More Comprehensive Approach

The integration of capabilities and partnerships will provide immediate benefits, allowing the HBS Group to expand its service scope for current projects and for more diverse and larger potential projects in the future.

With this, said Michael, the HBS Group will be able to offer more comprehensive solutions to address the challenges facing the industry. Moving forward, Petrosea (PTRO), through the HBS Group, will expand its range of integrated mining and construction services as well as various other services in the mining sector outside of Indonesia.

"The company consistently strives to create added value for all shareholders and other stakeholders, both now and in the future," he concluded.

Source: https://investor.id/market/405073/petrosea-ptro-akuisisi-kontraktor-tambang-emas

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