Skip to content

Here’s the latest information and resources for our teams at NSWEC, BMC and Cerrejón

 

Where we've been

 

 

The Divestment Review is focussed on the future of our interests in BMC, NSWEC and Cerrejón.

 

Whether it’s a trade sale to a trusted buyer or establishing a new company, every option is being explored to ensure stability for our team and maximise value for BHP.

 

 

Where we are

 

 

It may sometimes feel like the process is moving slowly. That’s because potential transactions like this are complex and do take time but we’re on track.

 

Right now, there aren’t any significant developments. We’re working hard to pinpoint what’s best for our assets as part of a potential transition to new ownership or a new operator.

 

 

Where we're going

 

As we enter the next phase of the review, we remain open to all opportunities and are working closely with stakeholders including our joint venture partners.

 

Our people will never be kept in the dark about what’s happening and when so we’ll share any major developments as soon as they’re finalised.

 

FAQ

To learn more about the Divestment Review, read the top frequently asked questions below

What is the Divestment Review?

We’re pursuing options to divest our interests in metallurgical coal at BHP Mitsui Coal (BMC), thermal coal at New South Wales Energy Coal (NSWEC) and Cerrejón in Colombia.

 

Why is it happening?

BHP’s portfolio is shifting towards higher quality coking coals. Within our current portfolio, metallurgical and thermal coal assets will not attract the investment necessary to maximise their value.

 

What is BHP hoping to acheive?

Divesting our interests in BMC, NSWEC and Cerrejón is the best way to maximise their value to the community and the benefits they bring to lives and livelihoods.

 

Are the assets no longer viable?

The proposed divestment of BHP’s metallurgical coal assets in Queensland and thermal coal assets in NSW and Colombia does not mean they are not valuable or viable.

 

Energy coal is expected to remain an important part of the energy mix, and metallurgical coal is expected to remain essential to steelmaking, for many decades to come.

 

What are the possible outcomes?

We are exploring what the future looks like for these operations – whether that’s starting a new, specialised company to own and operate them or undertaking a trade sale.

 

Can I have more information on those options?

These outcomes were flagged as part of the review:

 

  • Demerger: The establishment of a new, ASX and LSE-listed company which would hold BHP’s interests in BMC, NSWEC and Cerrejón. The divestment of these assets from BHP and the process to establish the new listed company would be similar to what happened with South32.
  • Trade sale: The purchase of all or selected assets by a third party or the transfer of asset ownership via a swap.


   

How long will this take?

This process will take time and we recognise the impact uncertainty has. We expect the divestment process could take one to two years in total.

 

With everything that is happening in the world, why does this have to happen now?

We know that a global pandemic and trade uncertainty makes this a particularly challenging time. And that any extra uncertainty caused by this decision is not easy to manage. Despite the unknowns, our workforce and stakeholders can be confident that BHP is committed an up-front and transparent process.

 

What does this mean for us?

For now, it’s business as usual and nothing changes. Along with our joint venture partners, we will continue to safely operate our sites.

 

Over many years, the value of these assets has been realised through the work of BHP’s skilled and dedicated people and the support of the communities in which we operate.

 

If it's a demerger or trade sale, what happens next?

We will work closely with our employees and support the communities we’re a part of.

 

What will happen to my role?

For now, it’s business as usual and nothing changes. The skills, experience and site-specific knowledge our workforce brings is vital to the effective operation of each site.

 

What about training and development?

The Divestment Review is not a barrier to building your skill set and progressing your career. Work with your line leader to plan what the year looks like for you.

 

Divestment Review Hub

Access further information on the Divestment Review Hub using a BHP login

Divestment Review Hub

Divestment Review Download

Watch the latest Divestment Review Download episodes

Watch Now

Questions and support

We recognise the impact of uncertainty. If you need assistance, speak to your line manager, the Employee Assistance Program or someone you’re comfortable with.

You can also email the Divestment Review mailbox and a dedicated team will answer your query or direct it to the right place.

Loading the player...