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Jakarta Post

BHP Billiton to sell stake in Maruwai to Adaro

  • Alfian

    The Jakarta Post

Jakarta   /   Thu, April 1 2010   /  10:36 am

BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia’s second largest thermal coal producer PT Adaro Energy, the world’s largest mining company announced Wednesday.“These agreements with Adaro provide a strong local partner to ensure the successful development of our world class metallurgical coal interests in Indonesia,” BHP’s president for metallurgical coal Hubie van Dalsen said on the firms’s website.BHP holds the remaining 75 percent of Maruwai and the company will form a joint venture with Adaro to manage it.The Maruwai project’s external relations manager Indra Diannanjaya would not divulge the value of the 25 percent divested stake, since the completion of the transaction is subject to government approval.Bambang Setiawan, director general for minerals, coal and geothermal at the Energy and Mineral Resources ...