Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, July 19, 2019

Article Excerpt

BHP GROUP LTD. (ADR), $58.30, symbol BHP on New York, is a leading producer of iron ore, oil and natural gas, copper and coal. It operates in Australia, the U.S., the U.K., Chile and South Africa. BHP is now looking at selling its thermal coal assets as part of the company’s shift to cleaner forms of energy. Thermal coal is burned by utilities to generate power. On the other hand, metallurgical coal is used in steelmaking. Although thermal coal is likely to remain a significant market for producers, environmental opposition to coal continues. BHP took the first step away from thermal coal last year by leaving the World Coal Association. The company, which publicly supports the Paris climate accord, cited differences on climate change as the main reason for ending its membership in the lobby group. A sale of its thermal coal assets would mirror those of BHP’s main rivals, Rio Tinto and Anglo American. They recently sold off all or part of their…

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