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ANGLO CONSORTIUM BUYS COLOMBIAN COAL MINE.

Asia Africa Intelligence Wire

| February 01, 2002 | COPYRIGHT 2002 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Anglo American plc is part of a consortium that has signed an agreement that will give them 100 percent of a Colombian coal mine -- complete with its own 150km railway line and port, it was announced on Friday. Anglo spokeswoman Ann Dunn said the deal was signed late on Thursday afternoon in London. The consortium members also include BHP-Billiton and Glencore International AG which will buy Exxon Mobil's share of International Colombia Resources LLC (Intercor), which has a 50 percent stake in the Cerrejon Zona Norte coal complex (CZN) in Colombia. The consortium bought the other 50 percent of CZN from the Colombian government in November 2000. Dunn said the purchase price was confidential, but Intercor has a net asset value of US366-million. CZN is Colombia's largest producer of steam coal and produces about 19 million tonnes per annum of high quality thermal ...

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