BHP will retain its Mt Arthur thermal coal mine in the Hunter Valley and shut it 15 years earlier than planned after failing to find a buyer.
BHP Group will hold on to its Mt Arthur thermal coal export mine in the NSW Hunter Valley and close it 15 years before schedule after failing to find a buyer.
BHP has provisioned about $US700 million for the mine’s closure and said rehabilitation would take 10 to 15 years. “We thoroughly reviewed potential options for NSWEC including divestment and future investment requirements,” Minerals Australia president Edgar Basto said. “Use of asset divestment as a tool to lower carbon footprints and avoid responsible closure is not acceptable,” she said.The centre also criticised the extension to 2030, saying it was inconsistent with the International Energy Agency’s warning that there could be no new coal mines or extensions from 2021 to limit global warming to 1.5 degrees.
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