Adaro Looking to Buy Coal Mine From BHP Billiton

Kalimantan Coal
PT Adaro Energy, the nation’s second-biggest coal producer, has said it is considering acquiring BHP Billiton’s coking-coal mine in Kalimantan.

Adaro is studying “several projects,” including BHP’s mine. The possible deal is still at an early stage, the company said in a filing to the Indonesia Stock Exchange on Friday. BHP, the world’s biggest mining company, scrapped plans to develop the Kalimantan mine because it did not fit its long-term strategy, the company said on June 9.

Isnaputra Iskandar, an analyst at PT OSK Nusadana Securities Indonesia, said that by acquiring BHP’s assets while coal prices were down meant that Adaro “may be able to pay a lower price for the purchase.” 

Bloomberg

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s