Bumi Res stock: Bumi Resources buys Queensland copper project

Published on 10/30/2026 at 09:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bumi Resources is expanding beyond coal through a Queensland copper-gold acquisition. The deal adds an exploration asset to its Australian portfolio.

Australia broadens the portfolio

Bumi Resources completed the acquisition of Mount Margaret Mining through its wholly owned Australian subsidiary.
The Queensland project contains the E1 and Monakoff copper-gold deposits and remains at an exploration and development stage.
Management presents the transaction as part of a diversification strategy beyond the established coal business.

Bumi Res, ID1000068703, Illustration mit AI erstellt.

PT Bumi Resources has completed the acquisition of Mount Margaret Mining in Queensland, adding a copper-gold exploration asset to its predominantly coal-focused portfolio. Mining.com.au reported on 26 October that the transaction was completed on 23 October through wholly owned subsidiary Bumi Resources Australia.

Deal adds copper and gold exposure

Bumi Resources Australia acquired 100% of Mount Margaret Mining for USD 22.01 million. The target owns the Mount Margaret Copper-Gold Project, which includes the E1 and Monakoff deposits about 39 kilometres northeast of Cloncurry in Queensland.

The project has a previous open-pit mining history from 2012 to 2014, when ore was transported to the nearby Ernest Henry processing plant. A 2022 project presentation cited an open-pit resource of 13 million tonnes grading 0.78% copper and 0.24 grams of gold per tonne. Bumi Resources has not announced an updated resource estimate or a development timetable.

Diversification remains the focus

Director RA Sri Dharmayanti described the transaction as a strategic step in the company's transformation plan and diversification beyond the coal sector. The acquisition therefore broadens the commodity mix, but it does not yet establish a production contribution or a timetable for cash flow from Mount Margaret.

The transaction follows Bumi Resources' move to acquire Loyal Metals and its Australian copper-gold portfolio, including the Highway Reward Project. For investors, the expansion creates potential exposure to copper and gold alongside the group's established coal operations, while exploration, development spending and future resource work remain important execution factors.

The real-time quote of the Bumi Res stock was EUR 0.01 at Lang & Schwarz on Friday, 30 October 2026, at 09:10 Berlin time.