Whitehaven keen on BHP’s Queensland met coke mines

The news: Whitehaven Coal has confirmed it is participating in the BHP Mitsubishi Alliance’s sale process for the Daunia and Blackwater coal mines in Queensland.

The numbers: BHP said in February its BMA JV would divest the two metallurgical coal mines. Analyst estimates put Blackwater’s price at around USD2.5 billion ($3.9 billion) while Daunia could sell for USD800 million.

The context: Whitehaven’s statement follows a report in the Australian Financial Review and comes after the independent coal miner last month temporarily suspended its share buyback citing "growth opportunities". The company on Monday confirmed those opportunities included the two BMA mines. Recent media reports have suggested smaller rivals Stanmore Resources, New Zealand's Bathurst Resources and contractor BUMA are also among the suitors for the two assets.