Commodity Prices Rise, Bumi Resources Yet to Feel Impact of Middle East Conflict

Jakarta — PT Bumi Resources Tbk has stated that the geopolitical conflict between Iran and Israel has not yet had an impact on the company’s operations or production costs.

Chief Corporate Affairs Officer Christopher Fong said the company had not observed significant pressure on its cost structure or business activities.

Rising commodity prices have actually benefited the company.

“No, actually we are seeing commodity prices increase, and that is benefiting us. Although we are reaching new price points that will rise further. Like others, we need stability. But so far we have not seen any impact,” said Christopher during a press conference in Jakarta on Thursday, 12 March 2026.

The company has also not seen production cost increases triggered by supply chain disruptions.

“We have not seen prices rise (production costs), only 11-12 days since the conflict. Those issues have not yet been resolved, and we hope they are not,” he explained.

Bumi Resources is currently expanding its business into the high-value mineral sector.

The expansion focus includes gold, copper, and bauxite commodities.

The company is also developing downstream processing programmes and strengthening long-term sustainability initiatives.

“Going forward we will focus increasingly on metals and minerals. Whilst coal remains an important part, we will also expand into copper, gold, and various other minerals,” he said.

The mining company operates in Northern Queensland, Australia.

Bumi Resources acquired 3,312,632 new shares of Jubilee Metals Limited issued on 18 December 2025.

The transaction value reached AUD 31.47 million or approximately IDR 346.93 billion.

Following completion of the transaction, Bumi Resources’ ownership in the company increased to 64.98 per cent.

The acquisition forms part of the company’s long-term diversification strategy.