BUMI Officially Acquires 64.98% Stake in Australian Gold Mining Company
Fri 19 Dec 2025, 01:47 AM
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PT Bumi Resources Tbk (BUMI) has officially acquired 5,734,770 shares of Jubilee Metals Limited (JML), equal to 64.98 percent. The transaction value reached IDR 346.93 billion, or the equivalent of AUD 31.47 million.
The transaction was carried out on 18 December 2025.
“The Company has subscribed to 3,312,632 new shares issued by JML, a company incorporated in Western Australia, with a transaction value of IDR 346,936,545,540 or the equivalent of AUD 31,470,004,” said BUMI Director R.A. Sri Dharmayanti in an IDX disclosure on Friday (19/12/2025).
Sri explained that this transaction is a strategic step aligned with the Company’s transformation plan and is part of its business diversification program beyond the coal sector.
“This transaction will have a positive impact on the Company’s business activities and deliver added value for the Company’s shareholders,” she said.
For context, JML is known to own gold mines in North Queensland and Victoria. Operating since 2012, the company initially focused on the Croydon area in western Queensland.
This area holds historical value in Australia’s mining world. Gold was first discovered there in 1885, and production once reached a record high of 1.9 million ounces.
JML is determined to apply advanced technology to revive the historic mining areas that were once abandoned. Currently, mining is still at the exploration stage, with potential reserves of 2 million ounces.
To acquire JML, BUMI allocated IDR 340.9 billion from bonds to pay for the Jubilee Metals acquisition. The bonds are only one source of funding for the acquisition. As of September 2025, BUMI had already acquired 41.36 percent of JML’s shares through a private placement, direct purchases, and a debt-to-equity swap.
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