U.S. firm joins Adaro

U.S. firm joins Adaro

JAKARTA (JP): Mission Energy Company, a subsidiary of SECcorp
of the United States, has acquired 10 percent of the shares of PT
Adaro Indonesia, an Indonesia-Australian coal mining company in
South Kalimantan.

"The acquisition of Adaro's stock was signed on Aug. 16,"
Mission Energy said in a statement here yesterday.

Adaro, which is owned by New Hope Corp. of Australia, PT
Tirtamas, a company controlled by Hashim Djojohadikusumo, and
Swabara Group, both of Indonesia, supplies coal to a power
project in Paiton, East Java.

Adaro's current reserve areas are estimated to contain over
one billion tons of coal with low levels of ash and sulfur.(04).