PT Bumi Resources Tbk (BUMI) has made a major move in its diversification strategy with the acquisition of Wolfram Limited, an Australian gold mine. The company now holds nearly 100% ownership, valued at around IDR 698.98 billion (AUD 6.35 million), signaling a significant step in its transition from a coal-based enterprise to a multi-commodity mining company. BUMI’s management confirmed that the remaining shares of Wolfram Limited will be secured by the end of October 2025, completing the acquisition process and strengthening BUMI’s international mining presence.
The newly acquired BUMI Australian gold mine is set to begin gold production by June 2026, with an estimated annual output of up to 100,000 troy ounces. According to BUMI’s leadership, the project is expected to generate positive financial returns within a year of operation. The company also revealed plans to pursue additional non-coal mining assets in both Indonesia and Australia over the next year, underscoring its goal of building a diverse, sustainable, and globally competitive mining portfolio.
Image source: PT Bumi Resources Tbk (BUMI)
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