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Report: Adaro says Australian approval in place for US$2.25B coal mine buy

PT Adaro Energy Tbk. secured the Australian government's approval to purchase an 80% stake in the Kestrel thermal and metallurgical coal mine in Queensland from Rio Tinto, The Jakarta Post reported May 31, citing Adaro's chief legal officer and director, Mohammad Syah Indra Aman.

The Indonesian coal miner plans to operate the mine jointly with EMR Capital, its partner in the deal.

Adaro is looking to close the US$2.25 billion acquisition by the end of third quarter.