BHP Billiton may withdraw from power coal assets in the future

Recently, BHP, an Australian miner, said that with stricter global regulation of carbon emissions and stronger calls to resist coal, the company said it might withdraw from its power coal assets in the future.

BHP Billiton said that it was planning to gradually withdraw from the operation of power coal because the future of the coal industry was full of uncertainties. On May 22, Peter Beaven, the chief financial officer of BHP Billiton, questioned the position of power coal in future energy development and expressed his intention to withdraw from power coal asset management in the future. At present, BHP Billiton operates Mount Arthur Coal Mine in New South Wales, Australia, and Cerrejon Coal Mine in Colombia. The company owns a full stake in Munter Arthur Coal Mine and a 33.33% stake in Selehon Coal Mine. In 2018, BHP Billiton managed 18.216 million tons of power coal in Munter Arthur Coal Mine and 12.878 million tons of power coal in Selehong Coal Mine.