Bumi Resources stock adds Queensland copper-gold asset
Published on 11/06/2026 at 09:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSExpansion beyond coal
- Bumi Resources completed the purchase of Mount Margaret Mining through its wholly owned Australian subsidiary.
- The Queensland project contains the E1 and Monakoff copper-gold deposits and has a previous open-pit production history.
- First-half 2026 revenue and pre-tax profit increased from the prior-year period.
PT Bumi Resources Tbk completed the acquisition of Mount Margaret Mining on October 23, 2026, adding a copper-gold project in Queensland to its portfolio. IDNFinancials reported on October 26 that Bumi Resources Australia Pty Ltd, a wholly owned subsidiary, acquired the two issued shares representing 100% of the Australian company.
The purchase price was USD 22.01 million. Management described the transaction as a strategic step under Bumi Resources' transformation plan and diversification programme beyond coal, adding that it should support business activities and provide additional benefits for shareholders. The acquisition expands the company's exposure to metals, but the contribution to revenue and earnings will depend on the project's future development and operating performance.
Queensland project adds metals exposure
Mount Margaret covers approximately 3,412 hectares and includes the E1 and Monakoff copper-gold deposits. IDNFinancials cited a 2022 technical report by Comet Resources that placed the project's mineral resources at approximately 13 million tonnes, with average grades of 0.78% copper and 0.24 grams of gold per tonne. E1 accounted for approximately 10.5 million tonnes and Monakoff for around 2.5 million tonnes.
The project has a previous open-pit production history from 2012 to 2014. Ore was processed at the Ernest Henry facility, located approximately seven kilometres away, to produce copper concentrate. The acquisition therefore adds an asset with prior operating history, although the figures cited for the mineral resources come from a 2022 report rather than a new estimate.
Second Australian deal in 2026
The Mount Margaret transaction followed Bumi Resources' acquisition of a 100% stake in Loyal Metals Ltd in September 2026. IDNFinancials reported that the earlier transaction was valued at approximately IDR 1.004 trillion, equivalent to AUD 79.07 million. Together, the deals show the company's push to build an Australian minerals portfolio alongside its established coal operations.
Bumi Resources also entered the acquisition with stronger first-half operating figures. Revenue rose 27.9% year over year to USD 866.8 million, while profit before tax increased 102.5% to USD 104.3 million, according to the same report. Those results describe the existing business and do not yet show earnings from Mount Margaret.
Bumi Resources stock traded at 0.01 euros on Lang & Schwarz at 09:29 CET on Friday, November 6, 2026. The real-time quote of Bumi Resources stock remains a reference for investors tracking the European trading line, while the company's primary listing is in Indonesia.
Bumi Resources company profile
- Company: PT Bumi Resources Tbk
- ISIN: ID1000068703
- Primary ticker: BUMI.JK
- Latest Lang & Schwarz quote: 0.01 euros, Friday, November 6, 2026, 09:29 CET
- Mount Margaret consideration: USD 22.01 million
- Mount Margaret location: Queensland, Australia
The broader market backdrop is available in current market reports.
Investors will watch for a development timetable, updated resource work or operating plans for Mount Margaret, as well as evidence that the Australian expansion can contribute to Bumi Resources' financial performance. More news and analyses on Bumi Resources stock are available in the company's topic area.
