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Jakarta Post
The Jakarta Post
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BHP Billiton sells RI coal asset to Adaro for a bargain

  • Fedina S. Sundaryani

    The Jakarta Post

Jakarta | Thu, June 9 2016 | 09:02 am

PREMIUM The world’s biggest mining company, BHP Billiton, is selling the whole of its 75 percent stake in a joint venture, IndoMet Coal, to its partner, local coal miner Adaro Energy, for the bargain price of US$120 million amid plunging global coal prices.

That compares with the $335 million Adaro paid for a 25 percent stake in IndoMet Coal back in 2010, signifying a drastic price cut amidst per...