BUMI steps up mineral asset hunt, new acquisition expected next year
Tuesday, December 2 2025 - 08:02 AM WIB
IDX-listed coal producer PT Bumi Resources Tbk. (IDX: BUMI) is intensifying its search for metal and mineral mining assets as part of its diversification strategy, with a new acquisition expected to be announced within the next six to twelve months.
Bumi Resources Director Christopher Fong said the company is advancing a transformation agenda that shifts its focus away from thermal coal expansion toward metals, minerals, and downstream processing.
“We will announce additional acquisitions within the next six to twelve months in the mineral sector, and possibly in other areas,” Fong said during the company’s public expose on Monday (Dec. 1).
He added that by 2031, BUMI aims to achieve a balanced portfolio, with a 50:50 contribution from thermal coal and non-thermal coal assets and revenue.
Read also : BUMI targets slight rise in coal sales for 2026
BUMI Director Rio Supin said the company plans to enter the mineral sector through the acquisition of a Wolfram mine in Queensland, Australia, which produces copper and gold.
He added that BUMI also sees diversification opportunities in aluminum and alumina. To support expansion into the sector, BUMI has begun the acquisition process for PT Laman Mining in West Kalimantan.
BUMI has signed a term sheet with PT Supreme Global Investment (SGI) to acquire a 45% stake in PT Laman Mining, which operates a bauxite mining business in Indonesia.
“For Laman Mining, the preliminary agreement stipulates that BUMI will acquire up to 45% of its shares. We are currently focused on completing the first stage of the acquisition, and there has been no further discussion about increasing our stake beyond 45%,” Rio said.
Regarding the acquisition of Jubilee Metal Limited (JML) in Australia, Rio said BUMI’s maximum target ownership is nearly 65%. “There is no further plan yet on whether we will increase our ownership in JML,” he added.
He emphasized that management’s priority is ensuring the JML mine—already in the production phase—begins operating at the scheduled capacity.
As of the end of September 2025, BUMI owned 41.36% of JML. The company has been increasing its stake gradually through debt-to-equity conversions, the settlement of sale-and-purchase transactions, and new share issuances.
Editing by Reiner Simanjuntak