BHP Will Not Sell New South Wales Energy Coal

After failing to get a viable offer, BHP has decided to retain New South Wales Energy Coal (NSWEC) in its portfolio. It will seek the relevant approvals to continue mining beyond its current mining consent that expires in 2026 and proceed with a managed process to cease mining at the asset by the end of the 2030 financial year. The decision follows BHP’s review of its lower grade metallurgical and energy coal assets that was announced in August 2020 and resulted in the divestment of interests in Cerrejón and BHP Mitsui Coal (BMC) in January and May, respectively.