

(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.
Highly-specialised global steel company, SSAB has announced a significant investment of approximately... Read more
Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more
The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more
As of April 25, 2025, farmers in all regions of Ukraine have sown 2M hectares (ha) of spring grain and... Read more
GrainCorp’s rail site at Condobolin, in the heart of central west New South Wales, Australia,... Read more
Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have... Read more
BHP has released its Operational Review for the nine months ended 31 March 2025.BHP Chief Executive... Read more
The volume of world merchandise trade is expected to decline by 0.2% in 2025 under current conditions... Read more
In a strategic move to empower UAE exporters and advance the nation’s economic diversification... Read more
Anglo American plc has noted the recent statement issued by Peabody Energy in relation to the definitive... Read more