BUMI Acquires Mount Margaret Mining for IDR 400 Billion

PT Bumi Resources Tbk (BUMI) has acquired all shares in Australian mining company Mount Margaret Mining Pty Ltd through its subsidiary, Bumi Resources Australia Pty Ltd (BRA). The transaction, valued at USD22 million, or nearly IDR 400 billion, was completed on October 23, 2026, as part of the company's strategy to diversify its business beyond coal, as reported by Idxchannel.

PT Bumi Resources Tbk Director R.A. Sri Dharmayanti explained that BRA is a company incorporated under Australian law and wholly owned by BUMI. Through the transaction, BRA acquired two shares in Mount Margaret, representing 100% of the company's issued shares.

In a disclosure on Monday (October 26, 2026), Sri Dharmayanti explained BUMI's ownership of the mining company following the completion of the transaction.

"Through this transaction, BUMI indirectly owns 100% of Mount Margaret's shares through BRA" said R.A. Sri Dharmayanti, Director of PT Bumi Resources Tbk.

Mount Margaret is a copper and gold mining company operating in Queensland, Australia. According to the information provided, the company manages a 3,412-hectare (ha) area with mineral reserves of approximately 13 million tonnes of ore.

The reserves contain 0.78% copper and 0.24 grams of gold per tonne. The mining asset is now part of BUMI's business portfolio, indirectly owned through BRA.

Sri Dharmayanti described the acquisition of Mount Margaret as a strategic move aligned with the company's transformation plans. The transaction is also part of BUMI's efforts to expand its business beyond coal.

In her statement, she outlined the company's expectations regarding the transaction's impact on its operations and shareholders.

"The transaction will have a positive impact on the company's business activities and provide added value for its shareholders," said R.A. Sri Dharmayanti, Director of PT Bumi Resources Tbk.

Source: https://www.suaraindependentnews.id/bumi-akuisisi-mount-margaret-mining

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