Glencore completes acquisition of 100% of Colombia's Cerrejón coal mine

Swiss multinational Glencore received all regulatory approvals and completed the acquisition of BHP’s and Anglo American's stakes in the Cerrejón coal complex in Colombia's La Guajira department.

The purchase price is about US$588mn, but after taking into account dividends, together with certain other adjustments, the cash payment is US$101mn, Glencore said in a statement on Tuesday.

“Glencore’s acquisition of Cerrejón is consistent with our climate change strategy and has been factored into our stated emission reduction targets,” according to the release.

“We are committed to reducing our total emissions footprint by 15% by 2026, 50% by 2035 and we have an ambition of being a net zero total emissions business by 2050.”

Cerrejón is the largest open pit coal mine in Latin America and was previously owned in equal parts by the three companies.

According to Cerrejón president Claudia Bejarano, last year production should have reached around 20Mt of energy coal.