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Asia’s largest exporter of thermal coal, PT Bumi Resources, on Wednesday announced that it would consolidate all of its non-coal mining assets into one company, to be named PT Bumi Resources Mineral, in a bid to focus more on its non-coal businesses.

“We view this as a logical strategic step to unlock the value of our high-potential non-coal businesses,” said Dileep Srivastava, Bumi’s vice president for investor relations. “We are segmenting them to realize their value exponentially for the benefit of our entire stake-holding fraternity.”

Bumi said the consolidation will involve a capital injection from Bumi into BRM.

Poltak Holtadero, the head of research at PT Recapital Securities, said Bumi’s move would help it get the best out of its diverse mineral assets.

“Coal is different from gold, iron ore, zinc and copper. Therefore, Bumi thinks it can’t only rely on coal and must put more focus on its non-coal assets, which will soon reach the production stage,” Poltak said.

Bumi will own 99 percent of BRM, which will control four companies, including Bumi subsidiary PT Multicapital.

Multicapital last year teamed up with three local governments in West Nusa Tenggara to acquire 24 percent of PT Newmont Nusa Tenggara, which controls the lucrative Batu Hijau copper and gold mine in Sumbawa.

The consortium plans to acquire another 7 percent stake in NNT that must be divested by this month.

BRM will also control Calipso Investment, which owns Perth-based Herald Resources, which controls a large zinc and lead mine in North Sumatra.

Also falling under the BRM umbrella will be PT Citra Palu Minerals, which has gold and copper projects in Gorontalo and Palu in Sulawesi and an iron ore project in Mauritania.

Bumi has previously said that these projects require investments totaling hundreds of millions of dollars.