Indonesian Miner Bumi Resources Acquires Australian-based Wolfram
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Bumi Resources, one of the world’s largest thermal coal exporter and one of the largest global coal companies, has successfully acquired a 99.68 percent ownership stake in Wolfram Limited, an Australian-based gold and copper mining company, and will complete the acquisition to 100 percent in November 2025.
“With the completion of this transaction, Bumi Resources is taking a significant step forward in its diversification journey. Diversifying into strategic and critical minerals aligns with global demand trends and reinforces our commitment to long-term, sustainable growth,” said Adika Nuraga Bakrie, president and director of Bumi Resources.
The acquisition follows the term sheet agreement signed earlier this year and has now been finalized after securing approval from the Australian Foreign Investment Review Board (FIRB). This marks an important milestone in Bumi Resources’ diversification strategy, extending the company’s portfolio into strategic and critical minerals as well as downstream opportunities.
Through Wolfram, Bumi Resources gains access to near-term gold and copper production potential, which is expected to contribute positively to the company’s earnings profile while providing enhanced value for shareholders.
Bumi Resources is an Indonesia-based holding company engaged in coal mining. The company’s main business segments are holding companies, coal, services, oil and gas, and gold. The holding company segment includes the company and other holding companies. The coal segment is engaged in coal mining activities, comprising exploration and exploitation of coal deposits. The services segment includes activities of marketing and management services. The oil and gas segment includes activities of oil and gas exploration. The gold segment includes activities of gold exploration. The coal segment is responsible for generating the majority of the revenue.
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