BHP Billiton still sees coal as an ‘attractive commodity’
JOHANNESBURG (miningweekly.com) – Diversified major BHP Billiton considered coal an “attractive commodity” and one its portfolio’s core pillars, BHP Billiton CFO Graham Kerr said on Tuesday.
Speaking during a media conference call following the release of the company’s interim results, he said BHP Billiton would not respond to market speculations regarding plans to exit thermal coal, a move that would have a significant impact on South Africa, where the company operated under BHP Billiton Energy Coal South Africa (Becsa).
Becsa, 90% owned by BHP Billiton, consisted of four primary coal mining operations – namely the Khutala colliery, Klipspruit colliery, Middelburg colliery and Wolvekrans colliery, all in Mpumalanga, as well as the three processing plants – that produced energy coal for the domestic and export market.
“There is no doubt our energy coal business in South Africa has had some challenges, but the team is working on that and performing well,” Kerr stated, adding that when the company’s businesses were looked at it was important to focus on safety, production volumes and cost.
He added that while the metallurgical coal segment of BHP Billiton’s coal portfolio had shown stronger performance than that of energy coal, with production having increased by 22% during the six months ended December, to 22-million tonnes, and energy coal production in line with that of the prior corresponding period, the metallurgical coal industry had not been without challenges.
“Further, [with regard to the future of the energy coal portfolio] we have some good assets in terms of Cerrejón, in Colombia, and New South Wales Energy Coal, in Australia, so there are still opportunities,” Kerr noted.
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