PACK Acquire Bumanik Nickel Mine
Fri 23 Oct 2026, 09:19 AM
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PT Abadi Nusantara Hijau Investama Tbk (PACK) plans to acquire a 100% stake in PT Bukit Makmur Istindo Nikeltama (Bumanik), a nickel ore mining company operating in North Morowali, Central Sulawesi.
The company, backed by CNGR boss Deng Weiming and Haji Isam, will spend around USD 79 million, equivalent to IDR 1.4 trillion, to acquire Bumanik.
The acquisition is part of PACK’s expansion strategy in the mineral mining sector, particularly nickel, while strengthening the company’s business portfolio through the addition of mining assets.
Citing a disclosure, PACK will carry out the acquisition through two subsidiaries, namely PT Daya Unggul Raya and PT Gemilang Padma Raya.
The two entities will acquire all of Bumanik’s shares from PT Merlot Grup Indonesia and Pure Venture Capitol Limited.
The transaction value of USD 79 million is equivalent to IDR 1.39 trillion, based on an exchange rate assumption of IDR 17,703 per USD. The company stated that the transaction value represents 26.40% of PACK’s consolidated equity as of August 31, 2026.
Management said the acquisition of Bumanik aims to develop the company’s business activities in North Morowali, Central Sulawesi, and improve business performance as a holding company focused on the nickel ore mining industry.
Once the transaction is completed, Bumanik will become an indirectly controlled company of PACK.
Bumanik was established in 2006 and operates in nickel ore mining. According to PACK’s disclosure, the company holds a concession area spanning 4,778 hectares in North Morowali, Central Sulawesi.
In its operations, Bumanik is engaged in nickel ore mining. The company also has experience in trading mining products and developing nickel projects in Indonesia.
According to information on the company’s official website, Bumanik began exploration activities in 2006.
The company also disclosed that it has developed supporting infrastructure, including an approximately 6.3-kilometer haul road connecting the initial project area in the Keuno Block to the jetty area.
Before the acquisition, Bumanik was 98.99% owned by PT Merlot Grup Indonesia and 1.01% by Pure Venture Capitol Limited. Through the transaction, PACK plans to acquire the company’s entire ownership.
Bumanik’s Financial Performance
Financially, Bumanik recorded net sales of IDR 1.08 trillion in the eight months ended August 31, 2026. This was an increase from net sales of IDR 790.41 billion in the same period a year earlier.
However, Bumanik’s profit for the period stood at IDR 242.59 billion through August 2026, lower than IDR 314.47 billion in the same period of 2025.
Based on its audited financial statements, Bumanik recorded total assets of IDR 1.53 trillion as of August 31, 2026. In the same period, the company’s total liabilities stood at IDR 1.16 trillion, while total equity reached IDR 369.96 billion.
Meanwhile, throughout 2025, Bumanik recorded a loss for the period of IDR 118.78 billion, with net sales of IDR 1.05 trillion.
The market value of 100% of Bumanik’s shares, based on an assessment by public appraisal firm Kusnanto & Rekan, reached IDR 1.439 trillion. The independent appraiser stated that the acquisition of Bumanik was fair.
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