PT Adaro Energy Tbk operates the largest single-site coal mine in the southern hemisphere (Tabalong), and is a significant supplier to the global seaborne thermal coal market. The company’s coal is widely used throughout Europe, Asia and the Americas.
Adaro’s vision is to be the largest and most efficient integrated coal mining and energy company in South East Asia. The company and its subsidiaries currently deal in coal mining and trade, coal infrastructure and logistics, and mining contractor service. Each operating subsidiary is positioned as an independent and integrated profit centre.
The company operates under a Coal Cooperation Agreement with the Government of Indonesia which gives it the right to mine coal within its Agreement Area in the Tanjung district of South Kalimantan Province. The Agreement Area covers approximately 36,000 hectares and lies 15 kilometers due east of the provincial town of Tanjung. Additionally in October 2016, Adaro became the sole owner of the IndoMet Coal project after acquiring BHP’s 75% stake. IndoMet comprises seven Coal Contracts of Work which are located in Central and Eastern Kalimantan.
Adaro acquired the Kestrel coal mine in Australia from Rio Tinto in 2018.
|Institution||Total aggregate debt (US$ million)||Number of deals||Most recent deal date|
|Bank of Tokyo-Mitsubishi UFJ||$807||12||17/04/2018|
|Sumitomo Mitsui Banking Corporation||$787||13||17/04/2018|
|Australia and New Zealand Banking Group||$651||10||17/04/2018|
|Standard Chartered Bank||$547||10||17/04/2018|
|United Overseas Bank||$319||11||21/12/2015|
|Mizuho Financial Group||$111||6||21/12/2015|
|Chinatrust Commercial Bank||$53||4||29/05/2013|
|Korea Development Bank||$27||2||21/12/2015|
|Export Development Canada||$15||1||29/05/2006|
|Bank Resona Perania||$15||1||29/05/2006|
|1. PT Adaro Strategic Investments||43.91||31 Dec 2017|
|2. Garibaldi Thohir||6.18||31 Dec 2017|
|3. Edwin Soeryadjaya||3.29||31 Dec 2017|
|4. Theodore Permadi Rachmat||2.54||31 Dec 2017|
|5. Dimensional Fund Advisors, L.P.||1.78||28 Feb 2018|
|6. The Vanguard Group, Inc.||1.40||31 Mar 2018|
|7. BlackRock Institutional Trust Company, N.A.||1.02||31 Mar 2018|
|8. APG Asset Management||0.35||31 Mar 2018|
|9. Nuveen LLC||0.21||31 Mar 2018|
|10. Parametric Portfolio Associates LLC||0.19||28 Feb 2018|
PLEASE NOTE: The US$ figures presented are the sum of lenders’ corporate loans to Adaro from 2006-2017. The ‘number of deals’ column indicates the number of deals (of a total of 17 transactions identified) in which a bank has been involved.
Information comes from Adaro’s annual reports, as well as other public and subscription-based information sources. Occasionally, where information is incomplete, assumptions must be made about data and these were made in a consistent manner and in good faith. Whilst we endeavoured to gather and include all relevant deals, we cannot guarantee the completeness of the information presented.