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BHP Group said on Wednesday Whitehaven Coal has been selected as the preferred bidder for its Daunia and Blackwater coal mines in Queensland.
The decision furthers BHP’s push to exit its coal operations in Queensland, after the world’s largest listed miner sold out of the South Walker Creek and Poitrel coal mines last year. Whitehaven had earlier said it was participating in a sale process initiated by BHP Mitsubishi Alliance for a couple of coking coal mines.The proposed acquisitions come as Whitehaven faces questions from minority shareholder Bell Rock around its paused share buyback program.
“The board will make a decision regarding resumption of the share buyback at the appropriate time,” the coal miner said in September while confirming its interest in the two mines.Move will result in the loss of about 1,000 jobs, though it will keep its refinery and smelters open in North Queensland.Rio Tinto’s Q3 iron ore shipments rise marginally on Gudai-Darri strengthAlbemarle has walked away from its $4.
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