BHPB, Glencore, Anglo buy Colombian coal mine

BHP Billiton, Glencore and Anglo American have officially wrapped-up negotiations with Exxon Mobil Corp to buy out its 50% stake in the world's biggest open-pit coal mine, the Cerrejon Zona Norte operation in Colombia.

The three companies will each own a third of the mine once the buyout is complete, BHPB said.

BHPB did not reveal the terms of the deal but said the 50% stake had a net asset value of $366 million.