The largest mining company in the world disposes of coal assets
the world's Largest mining company BHP Group has hired Macquarie Bank and JP Morgan for the sale of its Australian mine production of thermal coal amid growing pressure by environmental activists, aiming to reduce the use of fossil fuels.
Outdoor coal mine BHP Mt Arthur, located in the heart of the hunter valley in New South Wales, supplying energy coal used as fuel for power stations, domestic and international customers. Coal prices this year fell, reducing the likely sale price of BHP to less than $ 1 billion.
Earlier in BHP stated that the business of selling coal is a very small part of their portfolio, providing about 3% of turnover, and in February it was reported that if you see a good offer, they will be ready to sell these assets.
Competing mining companies have also taken steps to exit from the business of mining coal: Rio Tinto sold its last coal mine in 2018, and Anglo American is considering the separation or sale of its coal businesses in South Africa over the next two or three years.