TMS Awards 2023Sailors SocietyGeneva DryTBA GroupVan AalstPort of Stockton
  • Port of Stockton
  • Port of South Louisiana
  • Cimbria
  • TMS Awards 2023
  • Vigan
  • TBA Group

BHP announces divestment of Cerrejón interest

BHP announces divestment of Cerrejón interest

(Posted on 05/07/21)

BHP has announced that it has signed a Sale and Purchase Agreement with Glencore to divest its 33.3 per cent interest in Cerrejón, a non-operated energy coal joint venture in Colombia, for US$294 million cash consideration.

The transaction has an effective economic date of 31 December 2020. The purchase price is subject to adjustments at transaction completion which may include an adjustment for the dividends paid by Cerrejón to BHP during the period from signing to completion.

Alongside BHP and Anglo American, Glencore currently holds a 33.3 per cent interest in the operation. Glencore intends to acquire both BHP and Anglo American’s holdings.

Subject to the satisfaction of customary competition and regulatory requirements, Glencore would assume full ownership and operating control of Cerrejón. Completion is expected to occur in the first half of the 2022 calendar year.

Selling BHP’s financial interest to a current Cerrejón shareholder who understands the operation represents a strong outcome for Cerrejón and the stakeholders it supports.

A further impairment charge of approximately US$80 million post-tax will be recognised as an exceptional item in the financial results for the second half of the 2021 financial year.

Latest News

ADM and Bayer collaboration help farmers achieve lower carbon emissions

(Posted on 19/06/24)

 ADM and Bayer have announced an extension of their collaboration, working with farmers in a bid... Read more


US House appropriations bill includes reinstatement of NASS reports

(Posted on 14/06/24)

A House appropriations subcommittee in the USA has approved its Fiscal Year 2025 bill that includes... Read more


Rio Tinto to acquire Mitsubishi’s stake in Boyne aluminium smelter

(Posted on 14/06/24)

Rio Tinto has agreed to acquire Mitsubishi Corporation’s 11.65% interest in Boyne Smelters Ltd... Read more


Richards Bay Minerals’ renewable energy agreement

(Posted on 07/06/24)

Richards Bay Minerals (RBM) has signed a renewable power purchase agreement (PPA) with Khangela Emoyeni... Read more


Trafigura half year result show core business strength

(Posted on 07/06/24)

Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released its 2024 Half... Read more


New Zealand aluminium smelter’s future secured with power deals

(Posted on 01/06/24)

New Zealand Aluminium Smelters (NZAS) has signed 20-year electricity arrangements that secure the future... Read more


NGFA statement on farm bill advanced by House Ag Committee

(Posted on 31/05/24)

The House Agriculture Committee in the USA have advanced a farm bill that includes several important... Read more


Rio Tinto and BHP collaborate on electric trucks in the Pilbara

(Posted on 28/05/24)

In an industry first, Rio Tinto and BHP will collaborate on the testing of large battery-electric haul... Read more


KEZAD signs lease agreement with Ducab Metals Business

(Posted on 28/05/24)

KEZAD Group, the largest operator of integrated and purpose-built economic zones, and Ducab Metals Business... Read more


Anglo American simplifies portfolio of copper, premium iron ore and crop nutrients assets

(Posted on 22/05/24)

Anglo American plc is setting out a clear, compelling and decisive plan to unlock significant value... Read more


CimbriaTelestackBühler GmbHViganPort of South Louisiana
  • Van Aalst
  • Telestack
  • Bühler GmbH
  • Sailors Society

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping