Bumi Resources (BUMI) Completes Acquisition of Wolfram Limited
Jakarta, Indonesia – May 8, 2025 – Bumi Resources (BUMI) announced today the accomplished completion of its acquisition of Wolfram Limited, a move poised to bolster the Indonesian mining company’s portfolio wiht notable tungsten resources. The transaction, finalized on May 8, 2025, expands BUMI’s presence in the critical minerals sector and positions it to capitalize on growing global demand for tungsten.
This acquisition is strategically vital as tungsten is a vital component in numerous industries, including aerospace, automotive, and electronics. By integrating Wolfram Limited’s operations, BUMI aims to enhance its revenue profile thru increased gold and copper production in the short term, alongside the added value of tungsten assets.The deal is expected to benefit shareholders by diversifying BUMI’s commodity exposure and strengthening its long-term growth prospects.
BUMI Resources did not disclose the financial details of the acquisition. However, company officials indicated that Wolfram Limited possesses substantial tungsten reserves and ongoing exploration projects. The integration of Wolfram Limited’s assets will allow BUMI to leverage its existing infrastructure and expertise to optimize production and maximize shareholder returns.
The company expressed optimism regarding its ability to meet production targets, citing favorable weather conditions. This acquisition underscores BUMI’s commitment to expanding its resource base and solidifying its position as a leading player in the Indonesian mining industry.