BHP Billiton Enters Joint Venture For Indonesian Coal Project

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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