Prices at the Pumps - May 8, 2024 #saltwire #pricesatthepumps #gaspricesMELBOURNE/TOKYO - Japanese steelmakers have raised concerns with Australian authorities that BHP Group could become too dominant in the global supply of coking coal if it goes ahead with a takeover of Anglo American.
Representatives of Japanese steelmakers met with Queensland government officials raising alarm bells that if a deal went ahead it would concentrate the world's top quality coking coal mines in the state's Bowen Basin in the hands of BHP, two people familiar with the talks said. "BHP needs to explain to Japanese steelmakers and the market more broadly how it will ensure the ongoing supply of steelmaking coal remains competitive," he said.
The Fair Trade Commission declined to comment whether it has received any request to examine the BHP-Anglo deal. BHP CEO Mike Henry said last year the company"will not be investing any further growth dollars in Queensland under the current conditions".