Australian miner BHP Billiton has announced that it will divest three of its thermal coal assets and plans to focus on premium-quality coking coals as the steelmakers seek to improve blast furnace productivity and reduce emissions.
BHP stated that it is still considering all options including a potential demerger of these assets, or trade sale opportunities for value. The company will largely concentrate on premium hard coking coal as it is long-life, low-cost asset and has the advantage of decarbonisation.
This strategic move will help the company to simplify its coal portfolio and improve its competitiveness.