BHP Billiton sells RI coal asset to Adaro for a bargain
Fedina S. Sundaryani
The Jakarta Post
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...