28 Jun - 6 min read

Anglo American finalises transition from thermal coal via sale of shareholding in Cerrejón

Anglo American finalises transition from thermal coal via sale of shareholding in Cerrejón

Anglo American plc
Registered office: 20 Carlton House Terrace, London SW1Y 5AN
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
JSE Share Code: AGL
NSX Share Code: ANM

News Release

28 June 2021

Anglo American finalises transition from thermal coal via sale of shareholding in Cerrejón

Anglo American plc (“Anglo American”) announces that it has entered into an agreement for the
sale of its 33.3% interest in the Cerrejón joint venture (“Cerrejón”) to Glencore plc for a total cash
consideration of approximately US$294 million (the “Transaction”), representing the final stage
of Anglo American’s previously announced transition from thermal coal operations.

Mark Cutifani, Chief Executive of Anglo American, said: “Today’s agreement marks the last stage
of our transition from thermal coal operations. During that transition, we have sought to balance
the expectations of our wide range of different stakeholders as we have divested our portfolio of
thermal coal operations, in each case choosing the exit option most appropriate for the asset and
its distinct local and broader circumstances.”

Glencore and BHP currently each also hold a 33.3% interest in Cerrejón. Glencore intends to
acquire both Anglo American’s and BHP’s interests and will thereby assume full ownership of
Cerrejón upon completion.

The Transaction is subject to a number of competition authority and other regulatory approvals
and is expected to complete in H1 2022.

For further information, please contact:

Media                                                                               Investors

UK                                                                                  UK
James Wyatt-Tilby                                                                   Paul Galloway
james.wyatt-tilby@angloamerican.com                                                 paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759                                                            Tel: +44 (0)20 7968 8718

Marcelo Esquivel                                                                    Emma Waterworth
marcelo.esquivel@angloamerican.com                                                  emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8891                                                            Tel: +44 (0)20 7968 8574

Katie Ryall                                                                         Michelle Jarman
katie.ryall@angloamerican.com                                                       michelle.jarman@angloamerican.com
Tel: +44 (0)20 7968 8935                                                            Tel: +44 (0)20 7968 1494

South Africa
Nevashnee Naicker
Tel: +27 (0)71 164 5719

Sibusiso Tshabalala
Tel: +27 (0)11 638 2175

Nomonde Ndwalaza
Tel: +27 (0) 11 638 0228

Notes to editors:
Anglo American is a leading global mining company and our products are the essential
ingredients in almost every aspect of modern life. Our portfolio of world-class competitive
operations, development projects and undeveloped resources, provides many of the metals and
minerals that enable a cleaner, greener, more sustainable world and that meet the fast growing
consumer-driven demands of developed and maturing economies. With our people at the heart
of our business, we use innovative practices and the latest technologies to mine, process, move
and market our products to our customers – and to discover new resources – safely and

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, the
steelmaking ingredients of iron ore and metallurgical coal, and nickel – with crop nutrients in
development and thermal coal operations planned for divestment – we are committed to being
carbon neutral across our operations by 2040. We work together with our business partners and
diverse stakeholders to unlock sustainable value from precious natural resources for the benefit
of the communities and countries in which we operate, for society as a whole, and for our
shareholders. Anglo American is re-imagining mining to improve people’s lives.


Forward-looking statements:
This announcement includes forward-looking statements. All statements other than statements of historical
facts included in this announcement, including, without limitation, those regarding Anglo American's
financial position, business, acquisition and divestment strategy, dividend policy, plans and objectives of
management for future operations (including development plans and objectives relating to Anglo American's
products, production forecasts and Ore Reserves and Mineral Resource estimates) and environmental,
social and corporate governance goals and aspirations, are forward-looking statements. By their nature,
such forward-looking statements involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of Anglo American, or industry results, to be
materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Anglo American's present
and future business strategies and the environment in which Anglo American will operate in the future.
Important factors that could cause Anglo American's actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others, levels of actual production
during any period, levels of global demand and commodity market prices, mineral resource exploration and
development capabilities, recovery rates and other operational capabilities, safety, health or environmental
incidents, the effects of global pandemics and outbreaks of infectious diseases, the outcome of litigation or
regulatory proceedings, the availability of mining and processing equipment, the ability to produce and
transport products profitably, the availability of transportation infrastructure, the impact of foreign currency
exchange rates on market prices and operating costs, the availability of sufficient credit, the effects of
inflation, political uncertainty and economic conditions in relevant areas of the world, the actions of
competitors, activities by courts, regulators and governmental authorities such as in relation to permitting or
forcing closure of mines and ceasing of operations or maintenance of Anglo American's assets and changes
in taxation or safety, health, environmental or other types of regulation in the countries where Anglo
American operates, conflicts over land and resource ownership rights and such other risk factors identified
in Anglo American's most recent Annual Report. Forward-looking statements should, therefore, be
construed in light of such risk factors and undue reliance should not be placed on forward-looking

These forward-looking statements speak only as of the date of this announcement. Anglo American
expressly disclaims any obligation or undertaking (except as required by applicable law, the City Code on
Takeovers and Mergers, the UK Listing Rules, the Disclosure and Transparency Rules of the Financial
Conduct Authority, the Listings Requirements of the securities exchange of the JSE Limited in South Africa,
the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock Exchange and any other
applicable regulations) to release publicly any updates or revisions to any forward-looking statement
contained herein to reflect any change in Anglo American's expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement is based. Nothing in this announcement
should be interpreted to mean that future earnings per share of Anglo American will necessarily match or
exceed its historical published earnings per share.

Certain statistical and other information about Anglo American included in this announcement is sourced
from publicly available third-party sources. As such, it has not been independently verified and presents the
views of those third parties, though these may not necessarily correspond to the views held by Anglo
American and Anglo American expressly disclaims any responsibility for, or liability in respect of, such

Legal Entity Identifier: 549300S9XF92D1X8ME43

The Company has a primary listing on the Main Market of the London Stock Exchange and
secondary listings on the Johannesburg Stock Exchange, the Botswana Stock Exchange, the
Namibia Stock Exchange and the SIX Swiss Exchange.

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 28-06-2021 08:00:00
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