Business · Companies · 3 hrs ago
Bumi Resources Cannot Confirm Rumor It May Buy Kideco Mine
Bumi Resources said it could not confirm a rumor that it may buy a majority stake in Kideco Jaya Agung.
Kideco is a thermal coal mine in East Kalimantan, Indonesia, and Indika Energy owns 91% of it, while Samtan owns the rest.
The reported deal value is more than US$1 billion, or about 17.92 trillion rupiah.
The rumor identifies Bumi as a possible bidder in a sale of a majority stake, but Bumi said the information came from an unidentified source.
Kideco matters to Indika because it generated about 71.9% of the company's gross revenue in the first half of 2026.
Bumi said expanding beyond thermal coal is part of its strategy, while Kideco produces thermal coal.
Bumi said it will disclose any material developments under applicable rules, but no deal has been confirmed.
PT Bumi Resources said it could not confirm a rumor that it may acquire Kideco Jaya Agung, a coal mine owned by PT Indika Energy.
The reported potential transaction was valued at more than US$1 billion, or about Rp 17.92 trillion.
Bumi said it could not comment on market rumors, speculation or hypothetical transactions.
The company said material corporate developments would be disclosed under applicable rules.
Kideco is a thermal coal mine in East Kalimantan.
- Who
- PT Bumi Resources and PT Indika Energy. Bumi was named as a potential buyer of Indika’s Kideco Jaya Agung mine.
- What
- A rumor said Bumi may acquire the mine. Bumi said it could not confirm the report.
- When
- Bumi’s response was reported on October 13, 2026.
- Where
- Kideco Jaya Agung is in East Kalimantan, Indonesia.
- Why
- Not stated.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Reported transaction value
- More than US$1 billion, or about Rp 17.92 trillion
- Indika’s stake in Kideco
- 91%
- Samtan Co. Ltd.’s stake in Kideco
- 9%
- Kideco revenue, first half of 2026
- US$855.1 million
- Kideco production, first half of 2026
- 15.2 million tonnes
- Kideco mining permit
- Valid through 2033
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What people are saying
The company cannot comment on market rumors, speculation, or hypothetical transactions, and any material corporate developments will be disclosed in accordance with applicable disclosure rules.
The asset mentioned in the reports is a thermal coal asset.