BHP Group Shares Fall After New South Wales Government Strategy Banning New Coal Applications

MT Newswires Live

Mar 20

BHP Group (ASX:BHP) shares fell nearly 2% in afternoon trade on Friday following the New South Wales Government's decision to stop considering proposals for new standalone greenfield coal mines as part of its NSW Coal Industry 2026-50 strategy released on Thursday.

Shares of Yancoal Australia (ASX:YAL) rose 1% following the news, while Whitehaven Coal (ASX:WHC) shares climbed 3%.

The government said it will continue supporting current coal production for the state's energy security and steelmaking where demand exists, with the coal industry required to continue playing its part in achieving emissions reduction targets, according to the Thursday statement.

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