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Glencore Considers Buying Anglo Stake in Colombia Coal Mine

  • Glencore, BHP entitled to buy stake under agreements
  • Any acquisitions mustn't endanger balance sheet: Glasenberg

Glencore Plc may increase its stake in Colombia’s largest coal mine, Cerrejon, if Anglo American Plc carries out recently announced plans to sell its one-third interest.

Both Glencore and joint-owner BHP Billiton Ltd are entitled to buy Anglo’s stake under existing agreements, Glencore Chief Executive Officer Ivan Glasenberg said in a conference call Tuesday. Glencore’s preference would be to share Anglo’s stake with BHP, rather than buy it all, he said.