Continuing its commitment to a low emission future, BHP has put Mt Arthur coal mine, in the Hunter Valley up for sale, with JP Morgan and Macquarie Bank taking the lead in the sale.
Previous statements from BHP said that thermal coal was a small part of their business, with only a 3% turnover contributing to its overall portfolio.
Mt Arthur is an open-cut thermal coal mine and is currently wholly owned by BHP.
BHP’s annual report show that Mt Arthur has government approved extraction permits of up to 36 million mt/year and produced 6,150 kcal/kg NAR coal with 19.4% ash and 0.61% sulphur.
The company has pledged support for the 2015 Paris climate accord and follows other mining companies taking similar steps to divest from thermal coal.
Several firms have express interest in Mt Arthur including Whitehaven Coal Ltd.
BHP still retains an interest in nine operating metallurgical coal mines in Central Queensland.
In 2019, BHP produced 70 million tonnes of coking coal which is used in the production of steel.
