The administrators did not disclose the sale price but media reports put it at $50 million.
The assets includes a $1.7 billion contract for the Bengalon mine in Eastern Kalimantan.
HWE Indonesia - the subsidiary which controls HWE's Indonesian operations – will be sold to PT Bumi Resources.
PT Bumi Resources is the parent company of the Bengalon mine operators PT Kaltim Prima Coal who will assume operational control of HWE Indonesia until the settlement is finalised.
The timing of the decision to offload HWE Indonesia comes at a time when immediate financial commitment to infrastructure works, working capital, wages and plant equipment which is estimated around $US110 million are required for the Bengalon project.
The deal is contingent upon the approval of a number of parties and the financial arrangements remain confidential at this stage.
