Bakrie sells coal stake

Bakrie sells coal stake

SYDNEY, Australia (AP): PT Bakrie Brothers, BHP's Indonesian
coal mining partner, plans to sell its 20 percent stake in the PT
Arutmin Indonesian joint venture for around US$50 million, The
Australian newspaper said Monday.

Bakrie treasurer Arun Bathia said due diligence was being
carried out on the Kalimantan thermal coal operations by four
interested parties, the paper said.

Two of those parties are said to be international operators,
the newspaper said.

"It has been on the block for quite a few weeks but we haven't
finalized the sale yet," Bathia was quoted as saying.

BHP, which owns the remaining 80 percent of PT Arutmin, was
not believed to be among the parties bidding for the stake, the
report said.