BHP Billiton to divest interest in BMC to focus on higher quality met coal

Monday, 08 November 2021 14:44:16 (GMT+3)   |   Istanbul

Australian miner BHP Billiton has announced that it will sell its 80 percent interest in its metallurgical coal joint venture BHP Mitsui Coal (BMC) to Australia-based Stanmore SMC to focus on producing higher quality metallurgical coal sought after by global steelmakers to help increase efficiency and lower emissions.

The transaction which is worth US$1.35 billion is scheduled to be completed in mid-2022. 

BHP will continue to operate BMC until completion.

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