United Tractors to expand gold mining portfolio with ASA acquisition

PT United Tractors, a heavy equipment and mining company in Indonesia, has announced the acquisition of PT Arafura Surya Alam (ASA), a gold mining subsidiary of PT J Resources Nusantara. This $540m deal is being executed through United Tractors' fully owned subsidiary, PT Danusa Tambang Nusantara, as part of its strategy to expand its gold mining operations. The acquisition agreement includes 99.99% of ASA shares, minority interests in ASA and its subsidiary PT Mulia Bumi Persada, as well as shareholder ...