LONDON (dpa-AFX) - Mining company Anglo American Plc (AAUKY.PK, AAL.L) said Monday it signed an agreement to sell its 33.3% stake in the Cerrejón joint venture to Glencore plc for about $294 million in cash, representing the final stage of its prior announced transition from thermal coal operations.
The deal is subject to a number of competition authority and other regulatory approvals and is expected to complete in first half of 2022.
In a separate communique, Glencore said it intends to buy both Anglo American's and BHP's interests in Cerrejón mine, and will thereby assume full ownership of Cerrejón joint venture , upon completion. Anglo American, BHP and Glencore currently each hold a 33.3% stake in Cerrejón.
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