BHP concludes sale of Kalimantan coal asset
Thursday, January 28 2010 - 04:09 AM WIB
Indonesian unit of Australian resources giant BHP Billiton said Wednesday it has concluded the sale of its South Kalimantan coal mining asset PT BHP Kendilo Coal Indonesia.
?The mine has been sold to PT Indocoal Pratama,? BHP Billiton Indonesia Corporate Affairs and HR Director Muliawan Margadana told Petromindo.Com.
He did not give detail.
PT.BHP Kendilo has ceased mining operations at its Petangis mine in 2003 due to reserves depletion. But it still has unexploited reserves of 47 million tonnes in Bindi-Betitit area, which location is close to East Kalimantan coal miner PT Kideco Jaya Agung (KJA).
IDX-listed energy firm PT Indika Energy Tbk, which is a controlling shareholder of KJA was reportedly in negotiation to buy the mine from BHP in 2008, but, apparently, the deal did not go through. (alex)