BHP Billiton has formally surrendered its right to build a new $US5 billion coal terminal at the port of Abbot Point on the north Queensland coast of Australia, as part of its response to persistent weakness in global coal markets.
See http://www.afr.com/p/australia2-0/bhp_gives_up_on_abbot_point_terminal_lFxnkCigU5XvsXCxdMSGGJ.