Adaro eyes $291 million from unit IPO to spin off coal arm
Adaro is spinning off the coal mining unit valued at $2.45 billion to focus on developing cleaner energy, with an aluminum smelter being built in Kalimantan.
The AP says that Decker Coal Mine will be reducing its headcount by around 75 workers in mid-January.
The mine operator, Ambre Energy North America, is a subsidiary of KCP Inc. and Western Minerals LLC, which is in turn owned by Cloud Peak Energy. The Decker Coal Mine is located in the Powder River Basin, along the Montana-Wyoming border.
Management said the workers were being let go because of “ongoing expense management activities.”
Map of Decker Coal Mines from InfoMine
