Bumi Resources acquires Australia's Mount Margaret for US$22 million
The Indonesian miner said the purchase forms part of its transformation and efforts to diversify beyond coal.
PT Bumi Resources Tbk acquired full ownership of Australian company Mount Margaret for US$22 million through its subsidiary Bumi Resources Australia Pty Ltd, according to a disclosure to the Indonesia Stock Exchange on 26 October 2026.
The transaction took place on 23 October 2026 and covered the two shares making up Mount Margaret's entire issued share capital. Bumi Resources Australia, which is incorporated in Australia and wholly owned by Bumi Resources, carried out the purchase, giving the Indonesian parent an indirect 100 per cent holding.
Management said the acquisition supported Bumi Resources' transformation plans and its programme to diversify outside the coal sector. It also said the deal would benefit the company's operations and create additional value for shareholders.
Bumi Resources shares traded at Rp140 at 11am Western Indonesian Time on 26 October, unchanged from the previous week's closing price. The stock was down 61.48 per cent for the year to date, but up 4.48 per cent year on year.
