

(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.
Anglo American plc has announced the completion of the sale of its 33.3% minority interest in Jellinbah... Read more
Rafael Rivera has been appointed the new Country Manager Mexico of the end-to-end raw materials supplier... Read more
Tropical Cyclone Sean delivered record rain along parts of the Pilbara coastline of Western Australia... Read more
Rio Tinto has released fourth quarter production results. Chief Executive Jakob Stausholm said: &ldquo... Read more
Trafigura Group Pte Ltd. has published its 2024 Sustainability Report, highlighting the Group’... Read more
The International Longshoremen’s Association and the United States Maritime Alliance, Ltd. have... Read more
Further to the announcement of 2nd August 2024, Vitol B.V. has now completed the acquisition of... Read more
As part of a research and development programme, Rio Tinto is assessing the potential for extracting... Read more
Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released results for... Read more
Anglo American plc has announced the completion of the transaction to combine the Serra da Serpentina... Read more