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PRIVATE FINANCING of COAL and FOSSIL FUELS / ASIA’S DIRTY COMPANIES

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Adaro Energy: Dirty Money from Dirty Energy (Issue Brief 2019 Dec)In less than three decades, the Jakarta-based firm Adaro Energy has grown into one of the largest producers of thermal coal in the country and in the region. By end-2017, it posted a 45% spike in net profits to reach more than $480 million, surpassing net profits registered by Indonesia's largest coal producer. The following year, it reported revenues amounting to $3.6 billion, and together with a private equity firm, also acquired coal assets of the Australian mining giant Rio Tinto for $2.25 billion.2 It has since acquired 80% of Rio Tinto’s interest in the Kestrel mine in Central Queensland, Australia.

Adaro Energy currently and its subsidiaries currently cover a whole range of coal mining activities that include exploration, drilling, transport and maintenance.

pdfAdaro Energy: Dirty Money from Dirty Energy (Issue Brief 2019 Dec)