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→Selling off a one-quarter stake: add details
=== Selling off a one-quarter stake===
In March 2010 BHP Billiton announced that it had entered into "binding agreements to create a new joint venture for its Indonesian Coal Project (ICP) with a subsidiary of [[PT Adaro Energy]] TBK (Adaro), which has agreed to acquire a 25 per cent interest in the ICP joint venture. The finalisation of the joint venture was subject to the agreement of the Indonesian government. BHP Billiton holds the remaining 75 per cent." BHP Billiton President Metallurgical Coal, Hubie van Dalsen, stated in the company's media release that "as we progress development, we will continue our strong commitment to the protection of the region’s outstanding biodiversity.”<ref name=JV>BHP Billiton, [http://www.bhpbilliton.com/home/investors/news/Pages/Articles/BHP%20Billiton%20Enters%20Into%20a%20Joint%20Venture%20For%20Its%20Indonesian%20Coal%20Project%20%28Maruwai%29.aspx "BHP Billiton Enters Into a Joint Venture For Its Indonesian Coal Project (Maruwai)"], Media Release, March 31, 2010.</ref> In late May 2010 it was BHP Billiton and Adaro announced that the joint venture agreement had been approved by the Indonesian government.<ref>BHP Billiton, [http://www.bhpbilliton.com/home/investors/news/Pages/Articles/BHP%20Billiton%20Finalises%20Joint%20Venture%20Arrangements%20for%20its%20Indonesian%20Coal%20Project.aspx "BHP Billiton Finalises Joint Venture Arrangements for its Indonesian Coal Project"], Media Release, May 27, 2010.</ref> Adaro's announced that its 25% stake had cost $335 million.<ref>Adaro Energy, [http://www.reutersadaro.com/articlepublication/view/news-release-270510-bhp-joint-venture-english/idUSJKB00364020100527 "Adaro finalises Indonesia coal JV with Energy and BHP BillitonFinalize Joint Venture Arrangements for the Indonesian Coal Project (Muruwai)"], ''Reuters''Media Release, May 27, 2010.</ref>
As of December 2009, the total resource was estimated at 774 million tonnes. However, of this only 83 million tonnes was classed as a "measured resource" - the most accurate assessment of the available resource. Of this, 11 million tonnes of metallurgical and thermal coal was in the Haju deposit with only a further three million tonnes potentially available but which had not been proven to a high level of confidence. (BHP Billiton provide no details on the breakdown between metallurgical coal and thermal coal). The Lampunent deposit was classed as having a measured resource of 72 million tonnes of metallurgical coal with a maximum potential resource totalling 110 million tonnes and possibly 10 million tonnes of thermal coal.<ref>BHP Billiton, [http://www.bhpbilliton.com/home/investors/news/Documents/2010/100331_Indonesian%20Coal%20Project.pdf "BHP Billiton Indonesian Coal Project - Coal Resource Statement as at 31st December 2009"], March 31, 2010.</ref>
