Bukit Makmur Mandiri Utama Pte Ltd (BUMA Singapore), an indirect subsidiary of mining company PT Delta Dunia Makmur (DOID), has put AUD 62 million (Rp637.36 million) in investment in Australian mining company 29Metals Ltd.This investment is made by purchasing 229.9 million newly issued 29Metals shares at a price of AUD 0.27 per share.This measure is part of a fundraising of AUD 180 billion from 29Metals and gives the Group a significant minority interest of 19.9 percent in 29Metals.Ronald Sutardja, President Director of Delta Dunia, said that as part of the investment, the company will have the right to nominate one non-executive director to the 29Metals board of directors.“This strategic transaction strengthens our commitment to diversify and develop towards future-facing commodities, building on our recent significant acquisitions,” Ronald said on Wednesday, December 4, 2024.Delta Dunia previously signed a binding agreement to acquire a 51 percent stake in the Dawson Complex in Australia and acquired Atlantic Carbon Group Inc, the second largest producer of ultra-high-grade anthracite in the United States.“This transaction is a concrete step in achieving Delta Dunia Group’s long-term strategic goal to support the transition to a low-carbon economy,” Ronald said.It is also meant to diversify the portfolio to align with a more sustainable future and provide valuable exposure to copper and zinc.
He assessed that with an attractive price, this acquisition could provide direct and high-value opportunities for the Delta Dunia group.
Source https://djakarta-miningclub.com