BHP Billiton Enters Joint Venture For Indonesian Coal Project
31 Mars 2010 - 10:48AM
Dow Jones News
BHP Billiton Ltd. (BHP.AU) said Wednesday it has entered into a
joint venture with a subsidiary of PT Adaro Energy (ADRO.JK) for a
coal project in Indonesia.
Adaro will take a 25% stake in the project, which covers seven
contract areas in East and Central Kalimantan provinces, where
undeveloped metallurgical and thermal coal resources are estimated
at 774 million metric tons. BHP will hold the remainder, it
said.
"These agreements with Adaro provide a strong local partner to
ensure the successful development of our world class metallurgical
coal interests in Indonesia," Hubie van Dalsen, BHP's metallurgical
coal president, said in a statement.
The agreement still needs to be approved by the Indonesian
government.
-By Cynthia Koons; Dow Jones Newswires; 61-2-8272-4691;
cynthia.koons@dowjones.com
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