- About us
- IBJ Awards
- Free Sample
- Contact us
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.
BHP and Hatch design study for electric smelting furnace pilot(Posted on 24/03/23)
BHP and global engineering, project management and professional services firm, Hatch, have signed an... Read more
Rio Tinto spends over A$15.3 bn with Australian suppliers(Posted on 20/03/23)
Rio Tinto increased its spend with Australian suppliers to more than A$15.3 billion in 2022, as part... Read more
Trafigura closes the refinancing and extension of credit facilities(Posted on 20/03/23)
Trafigura Group Pte Ltd., a market leader in the global commodities industry, has announced the closing... Read more
Nexyst 360 selects Nexxiot to digitalize 5000 grain containers(Posted on 07/03/23)
Nexyst 360, an innovative grain transportation solution provider, has partnered with Nexxiot to digitalize... Read more
Cargill strengthens executive team(Posted on 28/02/23)
Cargill has announced the appointments of Joanne Knight as Chief Financial Officer (CFO) and Philippa... Read more
SACE’s Push Strategy to support supplies of commodities to Italy(Posted on 24/02/23)
Trafigura, a market leader in the global commodities industry, has entered into a USD 500 million five... Read more
Job losses loom as British steel proposes coke ovens closure(Posted on 22/02/23)
British Steel has announced proposals to close its coke ovens as part of its drive to overcome global... Read more
Rio Tinto and Marubeni to create stronger Aluminium supply chains(Posted on 20/02/23)
Global miner Rio Tinto and Japanese trader and business conglomerate Marubeni Corporation have agreed... Read more
Trafigura completes acquisition of Ecobat Stolberg multi-metals plant(Posted on 20/02/23)
Trafigura, a market leader in the global commodities industry, and Ecobat, the global leader in battery... Read more
EUROFER welcomes ITRE report(Posted on 13/02/23)
Hydrogen is at the core of the green steel transition. Ensuring access to this scarce resource &ndash... Read more