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BHP Is Said to Rebuff Early Bids Under Plan to Quit Thermal Coal

  • Yancoal, Adani among parties to have Mt Arthur offers rejected
  • Top miner is debating an exit as climate change pressure grows
BHP Billiton Announces Record Financial Results

Photographer: Ian Waldie/Getty Images

BHP Group has rejected early offers for its Australian thermal coal business that missed the miner’s own valuation as the year-long hunt for a buyer continues, according to people familiar with the matter.

Yancoal Australia Ltd. and Adani Group’s Australian unit are among those to have had approaches for the Mt Arthur mine rebuffed, said the people, who asked not to be identified discussing private information. BHP may step up its search for a buyer in the coming months, according to some of the people.