On 11 January BHP completed the sale to Glencore of its 33.3 per cent interest in Cerrejón, a non-operated energy coal joint venture in Colombia. This follows clearance from the Superintendence of Industry and Commerce in Colombia, subject to certain conditions.¹

The transaction was first announced on 28 June 2021 for a total cash consideration of approximately US$294 million based on an effective economic date of 31 December 2020.

Concurrently, Anglo American also completed the sale of its 33.3 per cent interest to Glencore, thereby providing Glencore with 100% ownership and operating control of Cerrejón.

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.

¹ The details of these commitments are published in Spanish here and an English translation is available for convenience here.