BUMI Initiates Mining in Australia with Glencore offtake Agreement
BUMI has commenced mining operations in Australia through its subsidiary Wolfram, targeting 12,000-15,000 tonnes of copper equivalent in 2026. Glencore has secured a seven-year offtake agreement for the Mt Carlton project, enhancing BUMI's revenue visibility.
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PT Bumi Resources Tbk (BUMI) has started mining at its Mt Carlton copper-gold project in Queensland, Australia, through its subsidiary Wolfram Limited. Mining activities began in April 2026, with commercial production anticipated between May and July 2026, aiming for 12,000-15,000 tonnes of copper equivalent this year.
Glencore will purchase all output under a seven-year offtake agreement. Concurrently, BUMI is preparing for gold production at a separate mine operated by Jubilee Metals Limited, expected to enter commissioning in August 2026 and achieve first production in Q4 2026. This diversification aligns with BUMI's strategy to balance its portfolio between coal and critical minerals.
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