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Anglo Coal further consolidates its position to meet global coal demand

01 February, 2002

Anglo American plc announces that a consortium comprising (in equal parts) subsidiaries of Anglo American plc, BHP Billiton plc and Glencore International AG (the Consortium) has signed an agreement with Exxon Mobil Corporation for the purchase of all the ownership interests in International Colombia Resources Corporation LLC (Intercor).

Intercor has a 50% interest in, and is the operator of, the Cerrejon Zona Norte coal complex (CZN) in Colombia. The net asset value of Intercor is US$366 million. The other 50% interest in CZN was acquired by the Consortium from the Colombian Government in November 2000. Following completion, CZN will be 100% owned and operated by the Consortium.

CZN is Colombia's largest producer and exporter of steam coal and comprises a surface coal mine, currently producing approximately 19 million tonnes per annum of high quality thermal coal for export to international markets, a 150 kilometre railway line and a port.

Subject to the satisfaction of certain conditions, completion is expected to take place within a month. The individual members of the Consortium will each fund their pro-rata share of the purchase consideration.

Over the past five years, Anglo Coal has undertaken an international diversification, adding significant interests in Australia, Colombia and Venezuela to its strong position in South Africa. Today, Anglo Coal is the 4th largest private sector coal producer in the world.

Tony Redman, Chairman and CEO of Anglo Coal said, "Anglo Coal's broadening geographic supply base is well positioned to meet the demands of global coal markets. The group is now in a position to concentrate on optimising operations and exploring brownfields expansions to current operations."

In addition to the investment in CZN, Anglo American plc, BHP Billiton plc and Glencore International AG each have a 33.3% interest in Carbones del Cerrejon (CdelC), which is located in the Guajira Department of northern Colombia and is contiguous with CZN. Significant operational synergies have been identified that can be released through combining the two operations.

CdelC and CZN are export-focused mines producing high quality, thermal coal. The combined current production is 22mtpa of which Anglo Coal's attributable share will increase from 4.2mtpa to 7.3mtpa. Opportunities exist to expand the combined operation and further reduce unit operating costs.

Proven reserves of CZN and CdelC total 400 million tonnes, with additional probable reserves of 550 million tonnes. The total resources, including mineable reserves, exceed 2.5 billion tonnes.

Notes to Editors:
Anglo American plc is one of the world's largest mining and natural resource groups. With its subsidiaries, joint ventures and associates, it is a global leader in gold, platinum group metals and diamonds, with significant interests in coal, base and ferrous metals, industrial minerals and forest products. The group is geographically diverse, with operations in Africa, Europe, South and North America and Australia. (www.angloamerican.co.uk)

Disclaimer:
The information contained in press releases, annual or interim reports, analyst presentations, and financial information should not be deemed accurate or current except as of the date of issue. Anglo American plc does not, does not intend to, and specifically disclaims any duty to, update or correct such information.

For further information:

Anglo American - London:
Investor Relations - Nick von Schirnding
Tel: +44 20 7698 8540
Media Relations - Kate Aindow
Tel: +44 20 7698 8619

Anglo American - Johannesburg:
Investor Relations - Anne Dunn
Tel: +27 11 638 4730 Mobile: +27 82 448 2684
Media Relations - Marion Dixon
Tel: +27 11 638 3001 Mobile: +27 82 775 5520

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