11th Jul 2019 14:46
(Alliance News) - London and Johannesburg-listed BHP Group PLC is considering selling its thermal coal business, the Financial Times reported Thursday afternoon.
According to the FT, the sale stems from a growing pressure from investors who are focused on environmental, social and governance issues.
Citing people familiar with the matter, the FT said the process is at a very early stage and there is no guarantee BHP will offload its assets in Australia and Colombia - which are expected to contribute 4% of the miner's underlying earnings this year.
Miners are facing pressure to divest assets as global headwinds aim to cap coal production.
https://www.ft.com/content/2a02eac0-a3da-11e9-974c-ad1c6ab5efd1
In London, BHP was trading 1.2% lower on Thursday at 1,973.40 pence each. In Johannesburg, the miner was down 1.8% at ZAR344.71 each.
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