Northstar's Unit Acquires Downer's Mining Business
Northstar Group’s mining company, PT Delta Dunia Makmur Tbk (DOID), has acquired the mining contractor business of Australia-based Downer Group for US$110 million or around Rp 1.56 trillion (at an exchange rate of Rp 14,250 per US dollar). Downer EDI Ltd sold Open Cut Mining East to DOID's subsidiary, PT Bukit Makmur Mandiri Utama, as the final step of the company's divestment of its mining portfolio.
Bukit Makmur Mandiri Utama has paid a deposit worth A$16 million, while the remaining must be paid upon the settlement before the end of 2021. Currently, Downer EDI Ltd is listed as one of the largest open-pit mining contractors in Australia and has worked with major domestic mining companies, including BHP and OZ Minerals.