Bukit Makmur Mandiri Utama (BUMA), the main subsidiary of PT Delta Dunia Makmur Tbk, marks 26 years of progressive growth and strategic transformation. Established on 7 December 1998, BUMA has consistently strengthened its operations, solidifying its role in key mining jurisdictions in Indonesia and Australia, while actively expanding its reach into new geographies and commodity diversification.

Indra Kanoena, President Director of BUMA said, "2024 has been a year of extraordinary transformation for us. We significantly increased our operational coverage in Indonesia and Australia through new contracts and substantial contract extensions. Simultaneously, we expanded our global reach with strategic value-adding acquisitions and diversified our commodity portfolio through our subsidiaries in Indonesia, Australia, and Singapore. The various achievements we have achieved throughout this year prove that BUMA is able to overcome challenges and achieve sustainable growth. The theme 'BUMA CAN' that we carry in commemorating our 26th anniversary is a real reflection of our dedication to hard work to always be more competitive, responsive to change and our tenacity to continue growing."

Key Contract Highlights in 2024: Demonstrating BUMA's Excellence in Mining

In Indonesia:

August 2024: BUMA secures a Rp12 trillion contract with PT Persada Kapuas Prima, demonstrating its expertise in providing comprehensive mining services with an end-to-end approach. The mining services will last throughout the operational life of the mine, with the initial phase planned for a period of 9 years.

October 2024: BUMA secures an 11-year contract extension worth IDR107.8 trillion with PT Indonesia Pratama, a subsidiary of PT Bayan Resources Tbk, further strengthening its market leadership.

From Australia:

April 2024: BUMA Australia signs a contract with Blackwater Operations Pty Ltd, a subsidiary of Whitehaven Coal Mining Limited, to provide pre-strip mining services at the Blackwater mine. This contract demonstrates BUMA Australia’s continued operational expertise in managing the mine.

September 2024: BUMA Australia secures a $200 million contract extension at the Meandu mine with TEC Coal Pty Ltd. This extension continues BUMA Australia’s operations and confirms their success in building a long-term partnership.

Expanding Global Reach and Commodity Diversification Through Value-Enhancing Acquisitions

June 2024: BUMA takes a transformative step by acquiring a majority stake in Atlantic Carbon Group, Inc. (ACG) through BUMA International’s controlled entity, American Anthracite SPV I, LLC. ACG is the second largest producer of ultra-high-grade anthracite in the US, securing ownership of four producing UHG anthracite mines in Pennsylvania. With this acquisition, BUMA becomes one of the leading producers of UHG anthracite globally, further diversifying the Group’s business geographically into future commodities, and in line with its transformation strategy.

November 2024: BUMA International signs an agreement with Peabody Energy Corporation (Peabody), to acquire a 51% interest in the Dawson Complex, giving BUMA International majority control (subject to regulatory approvals, with target completion in 2025) of one of Australia’s largest metallurgical coal mines.

December 2024: Through BUMA Singapore, BUMA invested AUD62 million through institutional and retail placements into 29Metals Limited (29Metals), giving the Group a significant minority interest of 19.9%. 29Metals is a mid-sized ASX-listed base and precious metals mining company with a focus on copper. The placement provides the Group with direct access to copper and zinc commodities through a producing mine - a significant step in BUMA and Delta Dunia Group's strategic plan to strengthen its presence in Australia and diversify into future-facing commodities.

Financial Prudence and Strong Credit Metrics: Demonstrating BUMA's Cash Flow Improvement

BUMA has consistently demonstrated prudent financial management, with an emphasis on improving cash flow, leveraging innovative technologies for cost management, and proactively aligning debt maturities with the life of its equipment. The Company has maintained a low and manageable Net Debt/EBITDA ratio of 1.96x as of 1H 2024, reflecting strong leverage management and positioning it for future growth.

The issuance of BUMA Rupiah Bond II Year 2024 in September 2024, which was oversubscribed by 1.4x, demonstrated strong investor demand and confidence in BUMA’s cash flow management and credit profile. The bond issuance has enabled BUMA to secure larger investor commitments for a longer period, significantly enhancing the company’s ability to effectively manage its debt maturity profile.

“Our journey has always been rooted in growth, guided by sustainability, and supported by the trust and collaboration of our stakeholders. We remain committed to achieving a better future marked by sustainable growth, shared prosperity, and stakeholder trust,” Indra concluded.

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