BHP To Limit Expenditure on Thermal Coal Assets

Bloomberg reported that BHP Billiton is capping expenditure on its thermal coal assets due to increasing pressure of the environmental impact of burning coal.

As quoted in the market report:

Developing countries want low-cost energy but you can’t deal with the carbon consequences over the long term,” Marcus Randolph, chief executive officer at the Melbourne-based company’s iron ore and coal unit, said today on a call with reporters. “Our response has been that the amount of dollars that we direct to our energy-coal growth has been quite low and we’ve actually not had substantial growth,” in the business.

To view the whole Bloomberg report, click here.