Stanmore Resources to acquire Moranbah South Coal Project for $105 Million

Australian metallurgical coal producer Stanmore Resources has announced that it has agreed to acquire a 100 percent stake in Moranbah South coal tenements from Exxaro Resources for $105 million.

The deal will take place on the condition that Exxaro first takes full ownership of South Moranbah. Exxaro currently holds a 50 percent stake in the project through a joint venture with Anglo American subsidiary Anglo Coal (Grosvenor). Exxaro exercised its pre-emptive right to acquire the remaining 50% of Anglo American shares after the sale of Anglo's Australian coal assets. American.

Completion of the transaction is expected in in the fourth quarter of 2026 года

The acquisition is expected to be completed by the end of the fourth quarter of 2026, subject to the completion of the acquisition of Exxaro from Anglo American and regulatory approval, including from the Australian Foreign Investment Review Board (FIRB) and the Australian Competition and Consumer Commission (ACCC). Stanmore will finance the transaction using its existing cash and liquidity balances.

Coal reserves in Moranbah South amount to 724 million tons. тонн

Moranbah South is an underground project that includes two mining licenses and one coal exploration permit. The project is located next to the Eagle Downs and Isaac Downs expansion projects from Stanmore, providing potential synergies with the company's existing development portfolio. According to resource estimates provided by Stanmore, Moranbah South contains 724 million tons of measured and indicated coal reserves in the Goonyella Middle formation, which are expected to be of high quality solid coking coal. Subject to further technical studies and feasibility studies, as well as the necessary regulatory documents. After obtaining permissions, these resources can potentially be accessed using the Eagle project infrastructure. Downs.

The acquisition will also avoid deferred and contingent payments of up to $60 million related to the 2024 agreement, which granted Stanmore the right to apply for future subsurface leases within a designated area in the Moranbah South apartment buildings that are part of the Isaac Downs Expansion project.