BHP can’t sell its Hunter coal mine, will shutter it in 2030
BHP has revealed it has been unable to sell its remaining thermal coal mine in the Hunter Valley — so it will shut it down in eight years and start rehabilitating the area.
BHP has driven a large stake through the aspirations of fossil fuel fetishists by revealing that its high quality NSW thermal coal mine, Mt Arthur, is unsellable and will be closed.
Despite record high prices for thermal coal, BHP has announced it has been unable to find a buyer for the mine, the largest in the Hunter Valley, and intends to close it by 2030.
BHP has been trying to sell its Mt Arthur operation near Muswellbrook — which produces 20 million tonnes of high-quality thermal coal a year — since 2020. Earlier this year, BHP completed the sale of its 80% stake in Queensland miner BHP Mitsui Coal as part of the same divestment process.