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.
While the global reaction to President Donald Trump’s decision to withdraw from the Paris Climate Agreement was largely critical, at least one energy industry important to Trump celebrated his decision to break from the accord — the coal industry.
Four of the five largest coal producer companies in the United States supported Trump’s move, citing their belief that remaining in the Paris Agreement would have impacted the U.S. economy negatively.
