Bumi Resources (BUMI) Completesโ Acquisition of Wolfram Limited
Jakarta, Indonesia – May 8, 2025 – Bumi Resources (BUMI) announced today theโค accomplished completion of its acquisition of โฃWolfram Limited, a move poised to bolster the Indonesian mining company’s portfolio โwiht notable tungsten resources. The transaction, โคfinalized on May 8, 2025, expands BUMI’s โขpresence in the criticalโ minerals sector โคand positions it to capitalize on growing global โdemand for tungsten.
This acquisition โคis strategically vital as tungsten is a vital component in โnumerous โขindustries, including โaerospace, automotive, and electronics. By integrating Wolfram Limited’s operations, BUMI aims to enhance its revenueโฃ profile thru increased gold and โคcopper production inโ the short term, alongside the added โvalue of tungsten assets.The deal is expected to benefit shareholders by diversifying BUMI’s commodity exposure andโฃ strengtheningโ its long-term growth prospects.
BUMI Resources did not disclose the financial details ofโข the acquisition. However, company officials indicated thatโ Wolfram Limited possesses substantialโฃ tungstenโ reserves and ongoing exploration projects. The integration of Wolfram Limited’s assets will allow BUMI to leverage its existing infrastructureโ and โexpertise to optimize production โคandโฃ maximize shareholder returns.
The company expressed optimism regarding its โability to meet โproduction targets, citing favorable weather conditions. This acquisition โunderscores BUMI’sโค commitment to expanding its โresource base and solidifying its position as a leading player inโฃ the Indonesian mining industry.