Coal Message Board - Msg: 34858836

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Gold/Mining/Energy : Coal

COAL 22.78

+1.9%

Oct 31 5:00 PM EST

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From: The Barracuda™	10/10/2024 9:32:49 AM
	Read Replies (1) of 2027

Sold my ADOOY because: Adaro Energy, one of Indonesia's largest coal producers, is undergoing a significant shift as part of its transition toward greener energy. The company is planning to divest its coal subsidiary, Adaro Andalan Indonesia, with a potential sale valued between $2.45 billion and $2.63 billion. This move, subject to regulatory approval, aims to separate its coal operations from its growing focus on minerals and renewable energy, including its investment in an aluminum smelter in Kalimantan. The sale is expected to be completed through a public offering, enabling shareholders of the parent company to participate. The decision aligns with Adaro's broader strategy to reduce reliance on coal, which still accounts for the majority of its revenue, while expanding into green energy and metals like nickel. By the end of the decade, Adaro hopes to generate over half of its revenue from non-coal sources, marking a significant step toward diversification in the face of global energy transitions?( MINING.COM )?( Indonesia Business Post ).

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