Thomsons has advised PT Bumi Resources, one of Indonesia's leading mining companies, on its recent acquisitions of three Australian gold and copper miners and a majority stake in a fourth as part of Bumi's multi-year strategy to transform into a diversified international mining group.
The transactions Thomsons has advised Bumi on are:
- acquisition of Mount Margaret Mining, owner of the Mount Margaret Copper-Gold Project in Queensland, for US$22.01 million (A$31.3 million), previously owned by Glencore, one of the world's biggest mining companies (October 2026);
- acquisition of Loyal Metals Ltd and its Highway Reward copper-gold mine for approx. A$79.1 million via a scheme of arrangement (April 2026);
- acquisition of a 64.98% stake in gold miner Jubilee Metals Ltd for A$45.5 million (December 2025); and
- acquisition of gold miner Wolfram Ltd for A$63.9 million (October 2025).
Bumi is expanding its portfolio into high-value minerals such as gold, copper and bauxite, while developing downstream processing and strengthening its long-term sustainability initiatives.
Thomsons brought together a multi-disciplinary team to advise on all aspects of the transactions, including engaging with regulators, due diligence and financing.
The team on each of the assignments was led by Partner Matt Reynolds, who said: "We’re proud to have supported Bumi across these transactions, drawing on Thomsons’ extensive experience in cross-border acquisitions, especially in the mining sector.”
Partners Jae Lemin and Sarah O'Brien-Smith, Special Counsel Shaun Restorick-Barton and Lawyer Will Lyons also worked across the Bumi transactions.
The gold sector in Australia has seen strong M&A and capital markets activity recently. Thomsons has been a part of that activity, advising on a number of key transactions.