$1 party, page-43

I think you're mistaken... BMC is met coal, of very similar quality to Curragh. You might be getting confused with MAC which is not next door (NSW) and not met coal (Australia's largest Energy Coal mine).

Having multiple assets, spreads risk, and while we're at it, might as well divest USA or parts atleast (which is barely breakeven in normal coal conditions), Greenbrier might fetch a few million today hopefully, and add the high quality BMC assets..

BMC would add 9MT of met coal production, to make us the second largest Coking Coal producer in the world, about even with Teck and a 3rd or so of World Number 1 BMA. It brings strong relationships with the japanese steel maker Mitsui who'd remain in the partnership.

BHP values BMC+BMA at 7.8B US, with the valuation being higher for BMA. I suspect BMC would set us back about 600-1B AUD on debt adjusted basis but increase output by over 65%.. Plus we won't be prone to blow out quarters, like the reclaimer 1 month outage at Curragh destroying revenue earlier this year.

Top priorities for me going forward:
1. Sell Greenbrier
2. Use cashflow to get BMC at a good price
3. If there's a good price consider Logan/Buchanan sales (but regional diversity can be good so no hurry to sell the more sustainable of the 2 producing US assets)
4. Paydown debt
5. Distribute excess capital.