BHP last week revealed that it will slash the value of its coal assets by AUD 1.25 billion as it looks to reposition its portfolio towards greener commodities like copper and nickel. BHP plans to sell its New South Wales Energy Coal unit, along with a stake in a Colombian coal mine, and has said it will take a write down of between AUD 1.15 billion and AUD 1.25 billion on the asset, cutting its value down to just AUD 250 million to AUD 350 million.The miner said the impairment, which will show up when it publishes its half-year results to 31 December 2020 in February, reflects current market conditions for Australian thermal coal.
BHP last week revealed that it will slash the value of its coal assets by AUD 1.25 billion as it looks to reposition its portfolio towards greener commodities like copper and nickel. BHP plans to sell its New South Wales Energy Coal unit, along with a stake in a Colombian coal mine, and has said it will take a write down of between AUD 1.15 billion and AUD 1.25 billion on the asset, cutting its value down to just AUD 250 million to AUD 350 million.The miner said the impairment, which will show up when it publishes its half-year results to 31 December 2020 in February, reflects current market conditions for Australian thermal coal.
