Cerrejón coal mine : Glencore takes full ownership for $588m

Glencore has wrapped up its previously announced $588 million acquisition of stakes of 33.3% each from Anglo American and BHP in the Cerrejón coal mine in Columbia.

The deal was announced in June 2021. Following its closing, Glencore has taken full ownership of the Colombian coal mine located in the La Guajira province.

Glencore said that the acquisition of the Cerrejón mine is in line with its climate change strategy and has been factored into its stated emission reduction targets.

Glencore takes full ownership of Cerrejón coal mine for $588m. Photo courtesy of Cerrejón.

Cerrejón is an open-pit coal-export mining operation that employs more than 8,500 people. It has been producing since 1984.

The Switzerland-based commodity company added that it is committed to decreasing its total emissions footprint by 15% by the year 2026, 50% by 2035, while aiming to become a net zero total emissions business by the year 2050.