PT Adaro Energy Tbk operates the largest single-site coal mine in the southern hemisphere (Tabalong), and is a major supplier to the global seaborne thermal coal market. Adaro’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 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.
Indonesia: Adaro operates under a Coal Cooperation Agreement with the Indonesian government. It is allowed to mine coal within its agreement area in the Tanjung district of South Kalimantan Province – around 36,000 hectares located 15 kilometres east of the provincial town of Tanjung. Additionally, in October 2016, Adaro became the sole owner of the IndoMet Coal project after buying BHP’s 75% stake. IndoMet comprises seven Coal Contracts of Work located in Central and Eastern Kalimantan.
Workers at the Kestrel underground coal mine in Queensland. Credit: Rio Tinto
Australia: Adaro bought the underground Kestrel coal mine in Queensland, Australia from Rio Tinto in 2018. Read our article on how ANZ bank helped finance the $1.7 billion deal.
|1. PT Adaro Strategic Investments||43.91||31 Mar 2019|
|2. Garibaldi Thohir||6.18||31 Mar 2019|
|3. Edwin Soeryadjaya||3.29||31 Mar 2019|
|4. Theodore Permadi Rachmat||2.54||31 Mar 2019|
|5. Dimensional Fund Advisors, L.P.||1.61||30 Jun 2019|
|6. The Vanguard Group, Inc.||1.42||31 May 2019|
|7. BlackRock Institutional Trust Company, N.A.||1.01||30 Jun 2019|
|8. First Trust Advisors L.P.||0.27||30 Jun 2019|
|9. CPP Investment Board||0.26||31 Mar 2019|
|10. Arini Saraswaty Subianto||0.25||31 Mar 2019|
|Institution||Total aggregate debt (US$ million)||Number of deals||Year of most recent deal|
|Bank of Tokyo-Mitsubishi UFJ (MUFG)||$511||14||2018|
|Sumitomo Mitsui Banking Corporation||$455||13||2018|
|Australia and New Zealand Banking Group||$226||8||2018|
|United Overseas Bank||$172||10||2018|
|Mizuho Financial Group||$136||10||2018|
|Korea Development Bank||$52||5||2018|
|Chinatrust Commercial Bank||$28||5||2013|
|Bank of China||$25||1||2018|
|Credit Agricole Group||$15||2||2011|
PLEASE NOTE: The US$ figures presented are the sum of lenders’ corporate loans to Adaro from 2006-June 2019. 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.