TIDMBHP

RNS Number : 0706K

BHP Group Limited

03 May 2022

NEWS RELEASE

 
Release Time     IMMEDIATE 
Date             3 May 2022 
Release number   13/22

BHP completes the divestment of its BMC interest

BHP has today completed the sale of its 80 per cent interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings Pty Ltd, a wholly owned entity of Stanmore Resources Limited (Stanmore Resources).

Stanmore Resources has paid US$1.1 billion cash consideration at completion plus a preliminary completion adjustment of approximately US$200 million for working capital. US$100 million cash remains payable to BHP in six months on 3 November 2022 with potential for an additional amount of up to US$150 million in a price-linked earnout payable to BHP in the 2024 calendar year. The total cash consideration for the transaction will be up to US$1.35 billion plus the final completion adjustment amount.

Stanmore Resources is an Australian Securities Exchange listed business with operations in Queensland's Bowen Basin and has committed to oversee and operate BMC in compliance with industry best practice in relation to safety and environmental performance, as well as regulatory, community and workforce engagement.

ENDS

About BMC

BMC is an operated metallurgical coal joint venture in Queensland Australia which comprises the Poitrel and South Walker Creek operations, Red Mountain Infrastructure and the Wards Well development.

Further information on BHP can be found at: bhp.com

Authorised for lodgement by:

Stefanie Wilkinson

Group Company Secretary

 
Media Relations                        Investor Relations 
 
 Email: media.relations@bhp.com         Email: investor.relations@bhp.com 
 
Australia and Asia                     Australia and Asia 
 
 Gabrielle Notley                       Dinesh Bishop 
 Tel: +61 3 9609 3830                   Mobile: +61 407 033 909 
 Mobile: +61 411 071 715 
 
 Europe, Middle East and Africa         Europe, Middle East and Africa 
 
 Neil Burrows                           James Bell 
 Tel: +44 20 7802 7484                  Tel: +44 2078 027 144 
 Mobile: +44 7786 661 683               Mobile: +44 7961 636 432 
 
 Americas                               Americas 
 
 Judy Dane                              Sabrina Goulart 
 Tel: +1 713 961 8283                   Mobile: +1 832 781 6698 
 Mobile: +1 713 299 5342 
 
  BHP Group Limited ABN 49 004 
  028 077 
  LEI WZE1WSENV6JSZFK0JC28 
  Registered in Australia 
  Registered Office: Level 18, 
  171 Collins Street 
  Melbourne Victoria 3000 Australia 
  Tel +61 1300 55 4757 Fax +61 
  3 9609 3015 
BHP Group is headquartered in Australia 
 Follow us on social media

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISDZGGKVFLGZZG

(END) Dow Jones Newswires

May 03, 2022 02:50 ET (06:50 GMT)

Bhp (LSE:BHP)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Bhp Charts.
Bhp (LSE:BHP)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Bhp Charts.