By Romel S. Gurky
Energy, mining and infrastructure firm PT United Tractors Tbk (IDX: UNTR) announced on Monday that it has signed a Conditional Sale and Purchase Agreement with gold mining firm PT J Resources Nusantara (IDX: PSAB) for the acquisition of the entire share of PT Arafura Surya Alam (ASA) with total enterprise value is the of US$ 540 million.
ASA is currently developing the Doup gold mining project, located in East Bolaang Mongondow Regency, North Sulawesi, which is targeted to commence production in early 2025. The project is expected to deliver an annual gold output of approximately 140,000 to 155,000 ounces.
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UNTR said that the deadline for the transaction completion is set on December 23, 2025.
With the acquisition, UNTR will operate three gold mines namely PT Agincourt Resources in North Sumatra with annual production capacity of 200,000 ounces, PT Sumbawa Juta Raya in West Nusa Tenggara with planned production of 20,000 ounces this year and ASA.
Editing by Alexander Ginting
