GLN: Glencore Completes Acquisition Of Cerrejon.
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
11 January 2022
GLENCORE COMPLETES ACQUISITION OF CERREJÓN
Glencore refers to its announcement of 28 June 2021, in which it announced its intention to
acquire Anglo American’s and BHP’s respective 33.3% interests in Cerrejón. Following receipt
of the relevant regulatory approvals, the transaction has been completed.
The purchase price consideration of c.$588 million was based on an economic effective date
of 31 December 2020. After taking into account the dividends generated by robust 2021
operating cashflows, together with certain other adjustments, the cash payment to be made
by Glencore on completion is c.US$101 million.
Glencore’s acquisition of Cerrejón is consistent with our climate change strategy and has been
factored into our stated emission reduction targets. 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.
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Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a
major producer and marketer of more than 60 responsibly-sourced commodities that
advance everyday life. The Group's operations comprise around 150 mining and metallurgical
sites and oil production assets.
With a strong footprint in over 35 countries in both established and emerging regions for
natural resources, Glencore's industrial activities are supported by a global network of more
than 30 marketing offices. Glencore's customers are industrial consumers, such as those inthe
automotive, steel, power generation, battery manufacturing and oil sectors. We also provide
financing, logistics and other services to producers and consumers of commodities. Glencore's
companies employ around 135,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights
and the International Council on Mining and Metals. We are an active participant in the
Extractive Industries Transparency Initiative. Our ambition is to be a net zero total emissions
company by 2050.
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities.
In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are
made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only
and do not imply any other relationship between the companies. Likewise, the words “ we”, “us” and “our” are also
used to refer collectively to members of the Group or to those who work for them. These expressions are also used
where no useful purpose is served by identifying the particular company or companies.
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 11-01-2022 04:24:00
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