Rancak Media – , JAKARTA —PT Bumi Resources Tbk. (BUMI), a prominent entity jointly owned by the Bakrie Group and Salim Group, is strategically expanding its mining portfolio. The company has finalized a significant agreement with PT Supreme Global Investment to acquire a substantial stake in an Indonesian bauxite mining company. This pivotal move was formalized through a joint term sheet signed on 25 September 2025, paving the way for BUMI to acquire 45% of the shares in PT Laman Mining, a key player in Indonesia’s bauxite sector, from PT Supreme Global Investment.
The acquisition of PT Laman Mining’s shares is valued at US$59.1 million, an amount that will be settled in two structured stages. As per BUMI’s financial report dated 30 September 2025, this translates to approximately Rp988.86 billion when converted using the Bank Indonesia Jisdor exchange rate of Rp16,732 per US dollar as of 13 November 2025. The initial payment, a down payment of US$20 million, is scheduled to be made by 30 December 2025. The remaining US$39.1 million will follow upon the fulfillment of specified conditions precedent, with a deadline of 30 October 2026.
In a protective measure for BUMI, the agreement stipulates clear contingencies: should PT Supreme Global Investment fail to meet the stipulated conditions precedent, BUMI reserves the right to reclaim its initial down payment along with a 9% annual penalty. Alternatively, BUMI may opt for the direct transfer of PT Laman Mining’s shares as a form of settlement. As of 30 September 2025, this transaction was still in its pre-completion phase, with the initial down payment yet to be disbursed.
Complementing its strategic expansion into bauxite, BUMI recently announced the successful completion of another significant acquisition: the full ownership of Wolfram Limited (WFL), an Australian gold mining company. The total transaction value for WFL reached Rp698.98 billion, equivalent to approximately AUD$63.5 million. R.A. Sri Dharmayanti, Director of BUMI, elaborated that the final 0.32% stake in WFL, valued at Rp2.21 billion (AUD$200,335), was purchased on 7 November 2025. This finalizes the acquisition, building upon the initial takeover of 99.68% of WFL’s shares conducted in early October, thereby making BUMI the sole owner of WFL.
This comprehensive acquisition of Wolfram Limited, first reported on 7 October 2025 for its 99.68% stake at Rp696.77 billion (AUD$63.29 million), marks a crucial step in BUMI’s long-term corporate strategy. Sri Dharmayanti emphasized that the move is an integral part of the company’s transformation plan and a key component of its broader business diversification efforts beyond the coal sector. The strategic shift into gold mining through WFL is expected to significantly enhance BUMI’s business operations and deliver increased value for its shareholders, reinforcing its commitment to a diversified and robust future.
Summary
PT Bumi Resources Tbk. (BUMI) is strategically expanding its mining portfolio through the acquisition of a 45% stake in PT Laman Mining, an Indonesian bauxite mining company, from PT Supreme Global Investment. This pivotal agreement, formalized on September 25, 2025, is valued at US$59.1 million, with an initial down payment of US$20 million due by December 30, 2025. The remaining US$39.1 million will be paid by October 30, 2026, upon fulfillment of specified conditions precedent, with BUMI having protective measures in case of non-compliance.
Complementing this move, BUMI also completed the full acquisition of Wolfram Limited (WFL), an Australian gold mining company, for a total of Rp698.98 billion (approximately AUD$63.5 million), finalized on November 7, 2025. This comprehensive acquisition is an integral part of BUMI’s long-term corporate strategy, signifying a crucial step in its transformation plan and broader business diversification efforts beyond the coal sector to enhance shareholder value.
