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 by AFP Staff Writers Sydney (AFP) June 28, 2021
Australian mining giant BHP said Monday it had reached a deal to sell its stake in a vast Colombian coal mine that is one of Latin America's largest. The Melbourne-headquartered firm said it had agreed to sell its 33.3 percent stake in the Cerrejon facility to project partner Glencore. BHP said the deal was worth US$294 million and indicated that Glencore was also interested in buying Anglo American's stake in the project, which has been beset by labour strikes. The mine produces thermal coal -- an increasingly undesirable commodity as countries and companies look to shift toward cleaner fuels for electricity generation. BHP has slashed the estimated value of its coal assets and is trying to unload them as it focuses on other commodities. arb/dm/oho
Bangladesh scraps 10 coal-fired power plants Dhaka (AFP) June 27, 2021 Bangladesh announced Sunday that it has scrapped at least 10 major coal-fired power plants as it seeks to scale up its power generation from renewable energy sources. Nasrul Hamid, the state minister for power and energy, said the decision was taken in light of technological changes and as dozens of countries halt new coal-fired power projects due to their impact on the environment. "By 2041, there is a plan to generate 40 percent of power from renewable energy," the ministry of energy and power ... read more
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