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Chinese Coal Buyers Seek Deferrals from BHP

Coal News - Published on Thu, 15 Oct 2020

Image Source: China Bans Coal Import
Australian mining giant BHP confirmed that Chinese customers have asked the miner for relief from coal purchase contracts in the wake of Beijing's move to crack down on foreign coal imports. BHP chairman Ken MacKenzie said ''We understand there may be some new developments relating to how China plans and moderates imports versus their own domestic coal production. Our commercial team has recently received deferment requests from some of our Chinese customers. But we have long standing relationships with our customers in China and we are working with them to understand the situation more comprehensively. It would be concerning if the rumours are true regarding an import restriction for Australian coal into China.''

He added ''The bilateral relationship is held as important by both parties and we have a great relationship with customers and suppliers in China, they have been great partners for us at BHP for a long time. 'Over the last year our customer and supplier relationships with China have strengthened as we have supported them during Covid.''

The requests for deferral come amid uncertainty over whether China is seeking to limit purchases of foreign coal of all origins, or whether Australian miners are being specifically targeted under an extension of geopolitical trade tensions.

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Posted By : Yogender Pancholi on Thu, 15 Oct 2020
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