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China’s Shenhua Energy reported to make $4 billion bid for Indonesian coal PDF Print E-mail
Tuesday, 27 November 2007
ImageChina Shenhua Energy Co. is reported by Chinese media to be seeking a controlling interest in the Indonesian coal company, PT Adaro Indonesia. 

This news follows reports that Shenhua Energy is also attempting to purchase a stake in Mongolia’s Tavan Tolgoi coke site. Tavan Tolgoi is expected to yield more than 10 million tons of coking coal annually. 

ImageMedia reports said Shenhua Energy will bid $4 billion USD for the stake in PT Adaro. The company is Indonesia’s second largest coal producer. 

PT Adaro Indonesia, is the world's largest thermal coal exporter. It is estimated to have deposits of some 40 billion tons of coals. 2008 plans call for the mining of 218 million metric tons of coal. 

World energy markets have been closely watching Shenua Energy, which is seeking foreign acquisitions for the first time.


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