Jakarta. BUMA International Group, listed in Jakarta under the ticker DOID, has secured a long-term extension of its mining services contract in Australia worth about A$740 million ($490 million or Rp 8.2 trillion).

According to a regulatory filing, BUMA Australia Pty Ltd — a wholly owned subsidiary of DOID through PT Bukit Makmur Mandiri Utama — signed the contract extension with Blackwater Operations Pty Ltd, a unit of Whitehaven Coal Mining Ltd, on Dec. 21. The agreement will run until June 2030 and covers pre-strip mining services at the Blackwater Mine in Queensland.

The Blackwater Mine is one of Australia’s largest open-cut metallurgical coal operations. Located about 20 kilometers south of the town of Blackwater in Central Queensland’s Bowen Basin, the mine spans roughly 80 kilometers across multiple pits. 

Chief Executive Officer of BUMA Australia Johan Ballot said the extension underscores the company’s position as a long-term partner at the site, where it has been operating since 2012.

"Our understanding of site conditions, strong local team, and consistent results enable us to sustain productivity while contributing to the long-term success of the Blackwater Mine,” Ballot said in a statement on Monday.

The renewed contract further anchors BUMA International’s presence in the Australian market, which management considers a core pillar of its international diversification strategy. Australia remains one of the world’s most competitive and regulated mining jurisdictions, and securing long-duration contracts there is often viewed as a validation of operational capability and safety standards.

Director of BUMA International Group Iwan Fuad Salim said the extended partnership with Whitehaven strengthens the company’s tier-one operating portfolio and enhances its global reputation.

“It enhances the Group’s earnings visibility and cash-flow stability through longterm partnerships with high-quality clients, while supporting our broader growth and diversification strategy.

Despite its solid operational footprint, BUMA International continues to face pressure on its financial performance. For the first nine months of 2025, the company posted a net loss attributable to shareholders of $72.66 million as of September, a sharp increase from a $13.96 million loss in the same period a year earlier.

Revenue for January–September 2025 declined 16.2% year on year to $1.13 billion, down from $1.34 billion in the comparable period of 2024. The contraction was largely driven by weaker performance in the coal mining and mining services segment, which also fell 16.2% to $1.13 billion.

Management has previously said that commodity price volatility, cost pressures and softer demand have weighed on margins across the mining services industry.