Wednesday, March 31, 2010

Adaro acquire 25% stake JV in Maruwai

PT Adaro Energy Tbk, the second largest coal producer in Indonesia, acquire a 25 percent stake in the joint venture for Maruwai coal project in Indonesia. BHP Biliton Ltd., the world's biggest mining company
BHP's Maruwai project covers seven coal contracts in the East and Central Kalimantan provinces with estimated undeveloped metallurgical and thermal-coal resources of 774 million tons, BHP said.
Adaro will control 25 percent shares in PT Maruwai Coal, PT Juloi Coal, PT Kalteng Coal, PT Sumber Barito Coal, PT Lahai Coal, PT Ratah Coal, and PT Pari Coal. Adaro for this year allocated US$250 million funds for capital expenditure. Most will be allotted for conveyor belt construction and routine maintenance.

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