BHP to divest thermal coal assets amid focus shift toward premium-quality coking coal

BHP plans to shift its coal focus toward premium-quality coking coals and will look at options to divest three of its lower-grade coal assets, it said on Tuesday August 18.

The strategic move by the Australian mining major is based on its judgment that premium-quality coking coal will be particularly advantaged over time due to the drive by steelmakers to improve blast furnace productivity and reduce emissions intensity.
"We are moving to concentrate our coal portfolio on high-quality coking coals, with greatest potential upside for quality premiums as steelmakers seek to improve blast furnace utilization and reduce emissions intensity," it said.

BHP is...

Gold and silver price ETFs see major net outflows

Gold stocks decline by less than metal price

A shift to the later stages of gold and silver bull markets

Gold stocks plunge on metal drop

Gold stocks still up after pullback late in the week