.bhp is looking at a potential early closure of a NSW coal mine as price caps and the government's reservation scheme eats into profits mining resources energy energysupply
PERTH – Mining major BHP is reportedly mulling the closure of its Mt Arthur coal mine, in New South Wales, ahead of its 2030 target.
In December, the New South Wales government imposed domestic coal reservation and price cap orders on a number of New South Wales producers which have historically supplied coal to the domestic energy market to offer at least 18.6-million tonnes into the domestic market. These orders are to apply from April 1, 2023 to June 30, 2024 and are designed not to impact existing coal supply agreements.
“Our primary concerns relate to the potential impacts on Mt Arthur Coal’s operations and business model, including what to do if our production costs are above the price cap - as well as understanding potential impacts on local communities and infrastructure such as the rail network, our long-standing commercial partnerships and our ability to meet our obligations to customers, and the energy market more broadly,” the letter reads.
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