BHP Slashes Value Of Australian Coal Assets

BHP (ASX, LON, NYSE: BHP), the world’s largest miner, has slashed the value of its Mt Arthur thermal coal mine in Australia by about $1.25 billion as it seeks to sell the asset and focus on other commodities.

The Melbourne, Australia-based company decided last year to either sell or spin off the open pit mine, located in the Hunter Valley region of New South Wales, as well as its stake in the massive Cerrejón coal mine in Colombia.

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