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BHP seeking thermal coal exit, profit slips amid virus hit – Sydney Morning Herald

BHP has confirmed it is seeking to exit thermal coal mining globally and offload some its metallurgical coal mines in Queensland in a bid to remove risk from its portfolio.

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“In a year marked by the challenges of the global COVID-19 pandemic, social unrest and commodity price volatility, we were safer, more reliable and lower-cost,” Mr Henry said.
After months of signalling it is open to the prospect of exiting thermal coal the coal used to generate energy BHP on Tuesday said it was looking at options to exit its thermal coal assets at Mt Arthur in NSW and the Cerrejon project in Colombia, which together account for about 3 per cent of revenue. It also said it was …

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