Whitehaven Coal is considering using $1.1bn to $1.8bn in debt to purchase BHP’s coal mines in Queensland, as suggested by UBS analysts.
Time to address the elephant in the room. Whitehaven is most likely going to buy Blackwater and Daunia from BHP.
Whitehaven Coal has temporarily suspended its share buyback program to allocate resources for a potential bid for BHP’s coking coal mines.
Queensland has warned mining company BHP that its mining licenses could be revoked if the company doesn’t continue investing in the state.
BHP, the world’s largest mining company by market capitalization, reported a 37% drop in its underlying profits for the year ending in June
The Blackwater Coal Mine is owned by the BHP Billiton Mitsubishi Alliance (BMA). It is located 24 kilometres south of Blackwater
Sojitz Corporation is exploring all options for restarting production at its Crinum underground mine in Queensland, Australia
The $1.4bn Daunia coal project included the development of a coal mine and a coal handling process unit, with a capacity of 4.5 Mtpa