![BHP to Sell Controlling Stake in Two Coal Mines for Up to $1.35 Billion BHP to Sell Controlling Stake in Two Coal Mines for Up to $1.35 Billion](https://morningtopnews.com/wp-content/uploads/2021/11/1636336032_social-768x384.jpeg)
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ADELAIDE, Australia— BHP Group Ltd. said it would sell its controlling interest in two metallurgical coal mines to Stanmore Resources Ltd. for up to $1.35 billion, shifting focus to high-quality coal that it expects to be in demand as the global steel industry decarbonizes.
BHP said Stanmore will buy its 80% stake in BHP Mitsui Coal, or BMC, which operates the South Walker Creek and the Poitrel coal mines in Queensland, a coal-rich Australian state located in the northeastern part of the country. Japan’s Mitsui and Co. owns the remaining stake. The Wall Street Journal recently reported that a deal for BHP to sell the interest to Stanmore was close.
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