BHP offloads coal assets

BHP's Mitsubishi Alliance (BMA) joint venture has signed a deal with Australia's Whitehaven Coal to sell its two Queensland coking coal operations, Duania and Blackwater.

The cost of the transaction was stated as 4.1 billion dollars. $2.1 billion of this will be paid in cash upon completion. The remaining amount will be transferred within three years.

In the 2021-2022 financial year, Duania and Blackwater accounted for just under 25% of BMA's coking coal production.