Australia-based Stanmore Coal Limited has announced that it has agreed to purchase the Isaac Plains coal mine in Central Queensland from the joint venture between Brazilian miner Vale and Japan’s Sumitomo Corporation.
The acquisition includes all assets held by the joint venture participants in relation to the mine including a coal handling and processing plant, rail loop, loading facility and mine infrastructure area.
Stanmore said that upon completion of the transaction the joint venture will be dissolved and Stanmore will own 100 percent of Isaac Plains.