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PADEF Adaro Energy Indonesia TBK (PK)

0.1805
0.00 (0.00%)
03 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Adaro Energy Indonesia TBK (PK) USOTC:PADEF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.1805 0.02 0.19 0.00 18:00:22

BHP Billiton Enters Joint Venture For Indonesian Coal Project

31/03/2010 9:48am

Dow Jones News


Adaro Energy Indonesia TBK (PK) (USOTC:PADEF)
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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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