{"id":1126100,"date":"2019-07-11T16:50:16","date_gmt":"2019-07-11T16:50:16","guid":{"rendered":"https:\/\/www.mining.com\/?p=996370"},"modified":"2019-07-11T16:50:16","modified_gmt":"2019-07-11T16:50:16","slug":"bhp-may-be-the-next-big-miner-to-wave-coal-goodbye","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1126100","title":{"rendered":"BHP may be the next big miner to wave coal goodbye"},"content":{"rendered":"<p>World number one mining company BHP&nbsp;(ASX, NYSE:BHP) is said to be mulling <a href=\"https:\/\/news.bloombergenvironment.com\/environment-and-energy\/bhp-is-latest-giant-miner-to-plan-exit-from-thermal-coal?utm_source=rss&amp;utm_medium=NEVE&amp;utm_campaign=0000016b-e126-d252-a96f-edae84250000\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">options to divest its thermal coal business<\/a>, which includes assets in Australia and Colombia.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The&nbsp;Melbourne, Australia-based giant took a first step away from thermal coal last year, by <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/worlds-top-miner-bhp-quits-global-coal-group-climate-stance\/\" >leaving the World Coal Association (WCA)<\/a>. The miner, which publicly supports the Paris climate accord, cited differences on climate change as the main reason to end its membership in the lobby group.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Rival Rio Tinto sold its last coal mines last year.<\/p>\n<\/blockquote>\n<\/figure>\n<p>It added that any present and future affiliations should align<br \/>\nwith the company\u2019s climate and energy stance, which includes tackling global<br \/>\nwarming through emission reductions.<\/p>\n<p>The miner has two thermal coal units \u2014 NSW Energy Coal in<br \/>\nAustralia and Cerrej\u00f3n in Colombia \u2014, which are expected to generate just 4% of<br \/>\nthe company\u2019s earnings this year.<\/p>\n<p>Chief financial officer, Peter Beaven hinted earlier this<br \/>\nyear that BHP was looking at alternatives to remove the fossil fuel from its<br \/>\nportfolio \u201cpotentially sooner than expected.\u201d <\/p>\n<p>Beaven noted at the time the company would rather focus on commodities that allow the&nbsp;electrification of transport and the decarbonization of stationary power, such as copper and nickel.&nbsp;<\/p>\n<p>Macquarie Group Ltd. and JPMorgan Chase &amp; Co. are seen as frontrunners to run a sales process for the assets, people familiar with the matter <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/news.bloombergenvironment.com\/environment-and-energy\/bhp-is-latest-giant-miner-to-plan-exit-from-thermal-coal?utm_source=rss&amp;utm_medium=NEVE&amp;utm_campaign=0000016b-e126-d252-a96f-edae84250000\" >told <em>Bloomberg New<\/em>s<\/a>.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2019\/07\/thermal-coa-for-bhpl-1024x539.jpg\" alt=\"\" class=\"wp-image-996375\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2019\/07\/thermal-coa-for-bhpl-1024x539.jpg 1024w, https:\/\/www.mining.com\/wp-content\/uploads\/2019\/07\/thermal-coa-for-bhpl-300x158.jpg 300w, https:\/\/www.mining.com\/wp-content\/uploads\/2019\/07\/thermal-coa-for-bhpl-768x404.jpg 768w, https:\/\/www.mining.com\/wp-content\/uploads\/2019\/07\/thermal-coa-for-bhpl.jpg 1296w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<p>BHP move would mirror those of its main rivals, Rio Tinto and Anglo American, which <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/rio-tintos-exit-coal-pays-off-return-3-2b-sales-proceeds-shareholders\/\" >recently offloaded all or part of their coal assets<\/a>, as a result of increasing pressure from institutional investors concerned about global warming. <\/p>\n<p>The world\u2019s largest trust, Norway\u2019s $1 trillion sovereign wealth fund, <a href=\"https:\/\/www.mining.com\/web\/norway-fund-may-have-to-offload-1-bn-stake-in-glencore-in-shift-away-from-coal\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">recently announced<\/a> it would no longer invest in companies that mine more than 20 million tonnes of coal a year or generate more than 10 gigawatts (GW) of power from coal. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>It currently has two thermal coal units &mdash; NSW Energy Coal in Australia and Cerrej&oacute;n in Colombia &mdash;, which are expected to generate just 4% of the company&rsquo;s earnings this year.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1126100"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1126100"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1126100\/revisions"}],"predecessor-version":[{"id":1126126,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1126100\/revisions\/1126126"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1126100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1126100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1126100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}