Anglo American plc has announced the completion of the sale of its 33.3% shareholding in the Cerrejón joint venture to Glencore plc.
The sale has been completed for a total cash consideration of approximately US$294 million, based on an effective economic date of 31 December 2020. The completion of this transaction, that was first announced on 28 June 2021, marks the final stage of Anglo American’s exit from thermal coal operations.
Glencore has been a longstanding 33.3% shareholder in Cerrejón, alongside Anglo American and BHP, and has concurrently acquired BHP’s 33.3% interest in Cerrejón. Glencore therefore now has 100% ownership and operating control of Cerrejón.
Read the article online at: https://www.worldcoal.com/coal/12012022/anglo-american-completes-sale-of-shareholding-in-cerrejn-mine-to-glencore/