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BUMA secures contract with Adaro at South Tutupan mine in Indonesia
Yahoo Finance· 2026-02-23 13:52
Group 1 - PT Bukit Makmur Mandiri Utama (BUMA) has secured a long-term contract with PT Adaro Indonesia for operations at the South Tutupan Mine, effective from April 1, 2026, to December 31, 2030 [1][2] - The contract involves the removal of approximately 239 million bank cubic metres of overburden and the extraction of 44 million tonnes of coal, averaging 50.5 million bank cubic metres and 9.3 million tonnes of coal annually [2] - This agreement enhances BUMA's revenue stability and long-term earnings, reinforcing its partnership with Adaro Indonesia, which has lasted over two decades [2][3] Group 2 - BUMA's president director, Ronald Sutardja, emphasized the significance of the contract as a testament to BUMA's operational delivery and reliability in managing complex mining operations [3] - BUMA International Group, established in 1990, operates in Indonesia, Australia, and the US, focusing on mining services, mine ownership, social enterprise, and technology [3][4] - The group expanded into mine ownership in 2024 by acquiring Atlantic Carbon Group and entered future-facing commodities by acquiring a stake in Australian company 29Metals [4]