Stanmore Resources buys Moranbah South for US$105M
Full story: https://grafa.com/en/news/australia/stanmore-resources-buys-moranbah-south-for-us-105m
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Stanmore Resources agreed to acquire 100% of the Moranbah South coal tenements for US$105 million.
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The transaction eliminates up to US$60 million in future contingent payments while expanding high-quality metallurgical coal reserves.
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The purchase strategically connects neighbouring assets to strengthen long-term production and development infrastructure in Queensland.
Stanmore Resources (ASX:SMR) has agreed to acquire full ownership of the Moranbah South coal tenements from Exxaro for US$105 million.
The acquisition follows Exxaro exercising its pre-emptive rights to buy out Anglo American's 50% interest in the joint venture.
"The acquisition of the Moranbah South tenements will represent a significant milestone for Stanmore’s development portfolio, increasing our resource base and strengthening the platform to deliver on our future growth aspirations," said Stanmore CEO & Executive Director Marcelo Matos.
The target tenements add 724 Mt of measured and indicated coal resources while extinguishing up to US$60 million in deferred obligations for the Isaac Downs Extension project.
Subject to regulatory approvals, the deal is targeted for completion before the end of the fourth quarter of 2026.
Following the announcement, the Stanmore Resources share price was up at $2.94.
The company continues to expand its footprint in metallurgical coal across the Bowen Basin region.
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