BHP warns investors coal could be phased out 'sooner than expected'
by Australian Associated Press from Environment | The Guardian on (#4FMA7)
Mining giant loses its appetite for thermal coal and will turn instead to oil, copper and nickel
BHP is looking to add more oil, copper and nickel resources to its portfolio, while souring on thermal coal because it thinks the fossil fuel will be phased out, "potentially sooner than expected".
BHP's chief financial officer, Peter Beaven, told investors and analysts in a strategy briefing on Wednesday that "the world will be a very different place in 10 to 20 years' time" and the global miner must be thoughtful about the risks and opportunities.
Continue reading...