TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsUnited Tractors to buy North Sulawesi gold mine in $540m deal
As part of its long-term diversification strategy, United Tractors has moved to purchase the under-construction Doup project by acquiring a 100 percent stake in gold miner PT Arafura Surya Alam.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Bright clouds sweep across clear skies on Jan. 28, 2014, above heavy equipment at a gold mine operated by PT Sago Prima Pratama in Nunukan, North Kalimantan. (Antara/Agus W.) (Antara/Agus W.)
P
T United Tractors has struck a US$540 million deal to acquire the Doup gold mine project in North Sulawesi through its subsidiaries PT Danusa Tambang Nusantara and PT Energia Prima Nusantara.
The publicly listed heavy equipment and mining firm signed a conditional sale and purchase agreement on Friday to acquire 100 percent of local gold miner PT Arafura Surya Alam (ASA) from PT J Resources Nusantara (JRN) and its president commissioner, Jimmy Budiarto.
The deal covers both ASA shares and outstanding shareholder loans from JRN, with the final purchase price to be adjusted based on the miner’s balance sheet when the transaction is completed, which is set for no later than Dec. 23, 2025.
“The purpose of this transaction is to expand our business in the mineral sector,” United Tractors corporate secretary Sara K. Loebis stated in a disclosure to the Financial Services Authority (OJK) on Monday.
United Tractors is the largest domestic distributor of heavy equipment and is 59.5 percent owned by PT Astra International.
The company has been extending its business lines beyond machinery in recent years and into mining and energy by steadily broadening its mineral portfolio, especially in gold and nickel, while also moving into renewable power projects as part of a long-term diversification strategy.
Read also: Astra to acquire warehousing firm Mega Manunggal Property
