BUMI Expands Its Mining Footprint into Australia

English
10 September 2026

ICN News – Acquisition of Loyal Metals Strengthens BUMI’s Diversification into Copper and Gold

PT Bumi Resources Tbk (BUMI) is expanding its mining footprint in Australia through the acquisition of Loyal Metals Ltd, an Australian listed mining company.

Through its subsidiary, Bumi Resources Australia Pty Ltd (BRA), BUMI has completed the acquisition of 100% of the shares in Loyal Metals. The transaction was completed on September 4, 2026, with a total value of approximately AUD79.07 million, equivalent to around Rp1.0 trillion.

The acquisition involves 175,710,515 fully paid ordinary shares in Loyal Metals, making BUMI, through BRA, the full owner of the Australian company. The transaction represents another important step in BUMI’s strategy to diversify its mining portfolio beyond coal and strengthen its presence in the international mining industry.

Expanding into Copper and Gold

Loyal Metals has a portfolio of mining and exploration projects in Queensland, Australia, with exposure to commodities including copper, gold and silver. One of the company’s key projects is Highway Reward, where exploration activities have identified copper-gold-silver mineralisation.

Exploration drilling reported by Loyal Metals in 2026 has delivered encouraging results, including an intersection of 145 metres grading 1.37% copper equivalent (CuEq), while another drilling result recorded 86 metres at 2.34% CuEq. These results indicate significant mineralisation potential and provide opportunities for further exploration and development.

For BUMI, the acquisition provides access to a new portfolio of mineral assets and supports the company’s efforts to build a more diversified mining business.

Not BUMI’s First Move in Australia

The acquisition of Loyal Metals is not BUMI’s first investment in the Australian mining sector. Previously, BUMI expanded its Australian portfolio through Wolfram Limited, which owns the Mt Carlton Gold Mine and the Crush Creek Project in Queensland. BUMI has also invested in Jubilee Metals Limited, further demonstrating its interest in Australia’s gold and mineral resources sector.

With the addition of Loyal Metals, BUMI is strengthening its position in Queensland, one of Australia’s important mining regions.

From Coal to a More Diversified Mining Portfolio

The latest acquisition is particularly significant because coal remains the core of BUMI’s business, while the company is increasingly developing exposure to other minerals. In the first half of 2026, BUMI recorded net profit of approximately US$58.9 million, representing an increase of around 188% year-on-year. Revenue reached approximately US$867 million during the same period.

While coal continues to be the company’s main business, investments in gold, copper and other minerals could provide new sources of long-term growth.

The strategy also reflects the growing importance of mineral resources that support global industrial development, electrification, infrastructure and the energy transition.

Australia Becomes an Important Growth Platform

By acquiring 100% of Loyal Metals, BUMI is gaining more than ownership of an Australian mining company. The transaction provides access to a portfolio of mineral exploration and development opportunities that could potentially be expanded in the future.

Loyal Metals’ shares on the Australian Securities Exchange (ASX) were suspended in August 2026 as part of the acquisition process, with the company subsequently moving toward delisting from the ASX.

For BUMI, Australia is increasingly becoming an important part of its international mining strategy.

The acquisition of Loyal Metals, valued at approximately Rp1 trillion, therefore represents more than simply the purchase of an Australian mining company. It demonstrates BUMI’s ambition to build a broader and more diversified mining portfolio from coal to gold, copper and other strategic minerals.

If successfully developed, BUMI’s growing Australian portfolio could become an important new source of long-term growth for the Indonesian mining group.