Whitehaven Coal Ltd., one of Australia’s largest coal producers, shelved a planned special purpose vehicle originally intended to provide in-house insurance after finding external insurers willing to take on the risk.
The development follows Sydney-based Whitehaven’s $3.2 billion purchase of coking-coal operations from BHP Group Ltd., which has added production of raw materials needed for steelmaking to its portfolio of mines largely supplying fuel for power stations.
Acquisitions have created the necessary level of diversification to improve Whitehaven’s access to insurers, according to a spokesp