BHP coal exit stalled by Mt Arthur bids

By Nickolas Zakharia | Australian Mining

BHP is reportedly struggling to find a suitable offer for the sale of its Mt Arthur thermal coal mine in New South Wales.

The Mt Arthur coal mine is the largest coal mine in New South Wales’ Hunter Valley region and is expected to be worth around $1 billion.

It is forecast to have production of between 15 and 17 million tonnes for the 12 months ended on June 30.

BHP hired Macquarie bank and JP Morgan to sell the thermal coal mine last year, sources said. However, offers from Yancoal Australia and Adani have allegedly been rejected due to offers not meeting valuation…Full Story