The sale of Anglo American plc's (Anglo American) 33.3% shareholding in the Cerrejón joint venture (Cerrejón) to Glencore plc (Glencore) has been completed.
The sale was for a total cash consideration of approximately $294m, based on an effective economic date of 31 December 2020.
The completion of this transaction, 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