BUMA Australia Pty Ltd., a wholly owned subsidiary of PT Bukit Makmur Mandiri Utama under PT Buma Internasional Grup Tbk (DOID.JK), on Monday announced a multi-year contract extension valued at about A$740 million with Blackwater Operations Pty Ltd, a subsidiary of Whitehaven Coal Mining Ltd. (WHC.AX, WHITF).
The contract extension secures BUMA Australia's mining operations at the Blackwater Mine in Queensland's Bowen Basin through June 2030.
The company said the extension strengthens its position as a long-term partner at a Tier-1 mining operation and improves earnings visibility and cash-flow stability through a long-term agreement with a high-quality client.
The site is one of Australia's largest open-cut metallurgical coal operations. The company will continue to deliver extensive pre-strip mining services at the Blackwater Mine.
The company said that Blackwater Mine remains a key economic driver in Central Queensland, with the company employing about 390 permanent personnel at the site and supporting local communities through job creation, skills training, and First Nations employment initiatives.
PT Buma Internasional Grup is currently trading 2.72% higher at IDR 302 on the Jakarta Stock Exchange.
Whitehaven Coal Mining closed trading 0.64% higher at AUD 7.87 on the Australian Securities Exchange.
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