08
Jun
10:42
BHPB to sell share in Indonesia coal project
BHP Billiton says it will sell its remaining 75% stake in IndoMet Coal in Indonesia’ Kalimantan to project partner Adaro Energy. The project’s value appears to have shrunk as fast as coking coal prices over recent years, Kallanish notes.
The price of the 75% share sale, which still requires regulatory approval, is reported at $120 million, just over a third of the $350m Adaro paid for the first 25% stake. Seaborne hard coking coal prices have shrunk …
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