Business Daily Media

Men's Weekly

.

Delta Dunia Group completes acquisition of Atlantic Carbon Group, Inc., a key global ultra-high-grade anthracite producer

  • The transaction is completed via American Anthracite SPV I, LLC, a controlled entity under BUMA International.
  • The acquisition enhances Delta Dunia Group's geographic and revenue diversification, aligning with its strategic growth objectives.
  • ACG represents a value-accretive acquisition expected to boost the Group's revenue, backed by secured long-term contracts with key customers.
  • The acquisition fosters collaboration among ACG, BUMA, and the Group's other businesses, enhancing safety and mining operations through shared experiences and best practices.

JAKARTA, INDONESIA - Media OutReach Newswire - 1 July 2024 - PT Delta Dunia Makmur Tbk (Delta Dunia Group, IDX: DOID), through American Anthracite SPV I, LLC, a controlled entity under PT Bukit Makmur Internasional (BUMA International), has completed the strategic acquisition of Atlantic Carbon Group, Inc. (ACG) for USD 122.4 million. This acquisition secures ownership of four producing Ultra-High-Grade (UHG) anthracite mines in Pennsylvania (USA) and positions Delta Dunia Group as a pivotal player in the global UHG anthracite market, crucial for the production of low-carbon steel (LC steel).

This deal marks a significant milestone for the Group, expanding its operations from a mining service provider to global mine ownership. The deal diversifies the Group's business into future-facing commodities, allowing it to seize opportunities in a key mining region. Acquiring ACG also accelerates the Group's strategy to diversify its geographical presence and reduce its dependence on thermal coal in its revenue mix.

ACG not only holds strategic importance but also serves as a value-accretive acquisition for the Group due to its valuation, leverage, and earnings impact, while expanding relationships with key customers and stakeholders. The addition of ACG is projected to generate USD120 – 130 million in the Group's revenue per year from 2024 to 2028[1]. Moreover, it significantly diversifies Delta Dunia Group's revenue mix, increasing non-thermal revenue from 19% in FY2023 to 28% in FY2024, aligning with the Group's strategic goals of reducing reliance on thermal coal.

Ronald Sutardja, President Director of Delta Dunia Group, said, "We are proud to have successfully completed this acquisition, marking a critical milestone in our strategic expansion and diversification efforts. The long lifespan of ACG's four active mines, sufficient to support over 25 years of mining and capable of supporting the production of up to 25 million tons of LC Steel annually, coupled with market strong market demand for UHG anthracite, positions us well for sustained future growth. This acquisition enables ACG and BUMA's operations in Indonesia and Australia, along with our adjacent businesses, to synergistically leverage their extensive experience, best practices, and innovative approaches in safety, mining operations, and management."

BUMA has a strong track record of successfully integrating and growing its portfolio companies' post-acquisition and expect to do the same with ACG. Leveraging its capabilities, BUMA has significantly expanded its global footprint from Indonesia by acquiring BUMA Australia in 2021. Since then, BUMA has not only established a presence in one of the world's premier mining hubs but also broadened its service portfolio to include metallurgical coal. This strategic expansion has resulted in a quadrupling of BUMA Australia's order book by 2022, significantly enhancing the Group's operational performance.

Eric Martin, Chief Executive Officer, Atlantic Carbon Group, Inc., said, "These are exciting times at ACG as we elevate the company to the next level of safety, quality, and production. ACG has consistently demonstrated growth, supported by strong market demand and favorable UHG anthracite prices. Being part of Delta Dunia Group opens new avenues for growth and innovation. With BUMA's renowned expertise in seamlessly integrating acquisitions and their operational excellence, we are poised to significantly enhance our production capacities. We look forward to utilizing their rich industry experience to unlock new potential and drive substantial advancements in our operational strategies."

ACG, known for its strong market position backed by robust anthracite demand and over 30 years of operational excellence, brings significant value to the Group. With 150 employees and a seasoned management team, ACG has secured long-term contracts with industry leaders to support its growth..

Expanding into the US allows the Group to meet the rising demand for UHG anthracite, essential for electric arc furnaces (EAFs) and LC steel production. US anthracite exports have grown at a 10.6% CAGR from FY2014 to FY2023[2], with EAFs driving future steelmaking capacity expansions in the US and Europe. China, the largest steel producer globally, has also put forward plans to increase EAF production to 15% of total steel production by 2025 and further increasing the proportion to 20% by 2030. Governments in the UK and Germany are also promoting the shift from blast furnaces to EAFs, further boosting demand for ACG's high-quality anthracite.



[1] Expected revenue in FY24-28 assuming UHG anthracite price at USD250/t.

[2] McCloskey Official Price Index for Settlements

Hashtag: #DeltaDunia


The issuer is solely responsible for the content of this announcement.

About PT Delta Dunia Makmur Tbk (Delta Dunia Group)

Established in 1990, PT Delta Dunia Makmur Tbk (Delta Dunia Group) is a prominent holding company operating in Indonesia, Australia and now, America. Our principal subsidiary, PT Bukit Makmur Utama (BUMA), is a leading provider of mining services to some of the largest miners in Indonesia and Australia (through BUMA Australia Pty Ltd).

In 2023, Delta Dunia Group expanded its portfolio with the addition of two new subsidiaries: PT Bukit Teknologi Digital (BTech), offering comprehensive mining technology solutions that empower companies within the mining industry, and PT BISA Ruang Nuswantara (BIRU), a social entity dedicated to education, vocational schools, and fostering a circular economy.

Listed on the Indonesia Stock Exchange (IDX Code: DOID), Delta Dunia Group is headquartered in Jakarta, Indonesia, and is supported by a workforce of over 16,000 employees across Indonesia and Australia.

News from Asia

FGA Trust Showcases Hong Kong’s Institutional Strength at 2025 Inclusion Conference on the Bund

HONG KONG SAR - Media OutReach Newswire - 12 September 2025 - FGA Trust, a licensed trustee in Hong Kong, participated in the 2025 Inclusion Conference on the Bund by the invitation of InvestHK, a...

Appier Drives GenAI-Powered Creatives Transformation with AdCreative.ai, Empowering Hong Kong Brands to Accelerate into the Agentic AI Marketing Era

HONG KONG SAR - Media OutReach Newswire - 12 September 2025 - Appier (TSE: 4180), an AI-native SaaS company specializing in AdTech and MarTech solutions, today hosted the GenAI for Marketing Asia ...

Uni-Bio Science Group and Kexing Biopharm Forge Strategic Partnership to Accelerate Global Expansion of Osteoporosis Treatment Bogutai®

Zhangqiu District, Jinan City, Shandong Province – September 2025HONG KONG SAR - EQS Newswire – 12 September 2025 - Uni-Bio Science Group ("the Group") is pleased to announce the signing of a strat...

10th Belt & Road Summit celebrates decade of business, investment and co-operation achievements

HONG KONG SAR - Media OutReach Newswire - 12 September 2025 - The 10th edition of the Belt and Road Summit in Hong Kong (September 10-11) gathered about 6 200 high-profile participants from govern...

Digital Entertainment Leadership Forum 2025 Kicks Off Today

AI-Driven Innovation Unlocks the Missing Piece in Digital EntertainmentHONG KONG SAR - Media OutReach Newswire - 12 September 2025 - The Digital Entertainment Leadership Forum 2025 (DELF 2025), Cy...

COOFANDY, EKOUAER, and Zeagoo Announce Participation in Oktoberfest 2025 with Joint Pop-Up Event at Substanz Club

MUNICH, GERMANY - Media OutReach Newswire - 13 September 2025 - COOFANDY, EKOUAER, and Zeagoo are excited to announce their participation in the 2025 Munich Oktoberfest, alongside a special off...

Coastline Wealth Management’s Garrett Taylor Named a Top New York Best-in-State Wealth Advisor

LONG ISLAND, US - Media OutReach Newswire - 13 September 2025 - Garrett Taylor, CRPC®, Founder and Managing Partner of Coastline Wealth Management, has earned a place on Forbes' 2025 Best-in-State...

China Telecom Global Showcases at the 10th Belt and Road Summit, Paving the Way for a Smarter Silk Road Future

HONG KONG SAR - Media OutReach Newswire - 13 September 2025 - The 10th Belt and Road Summit was successfully held at the Hong Kong Convention and Exhibition Centre from September 10 to 11, 2025...

IVD Medical Holding Limited and ETHK Group Establish Joint Venture, On-Chain Financial Strategy Upgraded On September 14

NEW YORK, US - Media OutReach Newswire - 14 September 2025 - IVD Medical Holding Limited (01931.HK) released an announcement stating its collaboration with ETHK Group, a global on-chain financial ...

IVD Medical Holding Limited Releases "ETHK" Ecosystem Vision: Technology for the Public, Chain for the Way On September 14

NEW YORK, US - Media OutReach Newswire - 14 September 2025 - IVD Medical Holding Limited (01931.HK) officially announced its name change. Its English name was changed to "ETHK Labs Inc...

Manny Shah: Is your business disappearing from Google? You’re not alone

Small business owners across Australia are panicking as their websites vanish from Google’s front pages overnight. According to Manny Shah, cofounde...

MR Roads named Queensland Finalist in the 2025 Telstra Best of Business Awards

MR Roads, co-founded by Daniel Mikus and James Rolph, has been announced as a Queensland finalist in the prestigious 2025 Telstra Best of Business...

AWS research shows strong AI adoption momentum in Australia, with startups outpacing large enterprises in innovation

Amazon Web Services (AWS), an Amazon.com company, released new research revealing that while artificial intelligence (AI) adoption continues to acce...

Changing the World One Bite At a Time: IKU Turns 40

One of Australia’s first plant-based, chef-led eateries and now ready meal provider IKU is celebrating its 40 year anniversary with the business e...

Three generations marking 45 years in hot-air balloons

Australia’s leading hot-air balloon company is celebrating 45 years in the sky and its 700,000th passenger, driven by the passion of father-son du...

Workplace DMs, Reinvented: Deputy Messaging, Purpose-Built For Shift-Based Teams

Deputy, the global people platform for shift-based businesses, has launched Deputy Messaging, a fully integrated, real-time communication tool designe...

Sell by LayBy