Stuck With Coal Pits the World Needs, But Few Want
- BHP said to rebuff early bids for mine that missed valuation
- Investor pressure is mounting for miners to exit coal business
Photographer: Ian Waldie/Bloomberg
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The Mt Arthur coal mine in Australia is one of the world’s best. It’s got plenty of reserves and the low-cost supplies produced there are easily shipped to Southeast Asia, where there’s insatiable appetite for the fuel.
Yet owner BHP Group has a problem: It’s struggling to find a buyer willing to pay the right price.