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PT United Tractors, a heavy gear and mining firm in Indonesia, has introduced the acquisition of PT Arafura Surya Alam (ASA), a gold mining subsidiary of PT J Sources Nusantara.
This $540m deal is being executed via United Tractors’ absolutely owned subsidiary, PT Danusa Tambang Nusantara, as a part of its technique to increase its gold mining operations.
The acquisition settlement contains 99.99% of ASA shares, minority pursuits in ASA and its subsidiary PT Mulia Bumi Persada, in addition to shareholder loans from J Sources Nusantara, reported Deal Road Asia.
The ultimate transaction worth is topic to changes based mostly on ASA’s steadiness sheet on the time of closing.
United Tractors expects to finalise the transaction no later than 23 December, reported Bloomberg, citing a submitting.
ASA carries a 20-year mining enterprise licence for manufacturing operations protecting a 4,000-hectare concession space in Bolaang Mongondow Timur, North Sulawesi.
Issued in 2013, this licence stays legitimate till 2033, offering United Tractors with a long-term operational foothold within the area.
This acquisition provides a 3rd gold mine to United Tractors’s portfolio.
It presently operates the Martabe gold mine in South Tapanuli through PT Agincourt Sources and a gold mine in Sumbawa through PT Sumbawa Jutaraya.
As of July 2025, mixed gold-equivalent gross sales from these mines reached 143,000oz, a 12% enhance from the earlier 12 months.
J Sources Asia Pasifik, the mother or father firm of J Sources Nusantara, is presently navigating a strategic transition. The corporate manages numerous property together with the Bakan mine in North Sulawesi and the Penjom mine in Malaysia. Moreover, it’s growing a brand new mine known as Doup and overseeing a number of websites which can be within the post-mining rehabilitation part.
Within the first half of 2025, J Sources posted a 95.4% year-on-year enhance in web revenue to $19.7m, with revenues rising 7.8% to $140.3m.
United Tractors, a diversified subsidiary of Astra Worldwide, operates throughout building gear distribution, mining contracting, coal and gold mining, and vitality sectors.
The divestment of ASA is anticipated to reinforce J Sources’ capital flexibility, permitting it to focus on its current producing and developmental property.
“United Tractors to increase gold mining portfolio with ASA acquisition” was initially created and revealed by Mining Expertise, a GlobalData owned model.
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