Australian miner BHP Billiton has announced that it has entered into an agreement to sell its 75 percent stake in the IndoMet Coal project located in Indonesia to its equity partner Indonesia-based PT Alam Tri Abadi (Adaro). Completion of the sale is conditional upon the fulfillment of customary regulatory approvals.
“After a detailed review of IndoMet Coal, we concluded that, although the project could support a larger scale development, BHP Billiton has a range of other growth options in the portfolio that are more attractive for future investment,” stated James Palmer, IndoMet Coal’s asset president.
The IndoMet Coal project holds metallurgical and energy coal deposits in the Kalimantan region of Indonesia.