PRESS RELEASE: Completion of BHP Billiton sale on PT Arutmin

BHP Billiton of Australia on Friday announced the completion of the sale of its 80 percent interest in the PT Arutmin Indonesia (PT Arutmin) energy coal operations to PT Bumi Resources Tbk, effective 30 November 2001.

All necessary conditions and Government approvals required under the sale agreement announced on 23rd October 2001 have now been met.

PT Arutmin operates two open-cut energy coalmines, Senakin and Satui in South Kalimantan, Indonesia, which produce about 11 million tonnes of energy coal, mainly for export to Asian markets.

BHP Billiton Energy Coal will continue to market 75 per cent of the current coal production under a Marketing Services Agreement with PT Arutmin. (robert)