Australia-based metallurgical coal producer Stanmore Resources has announced that it has agreed to acquire a 100 percent interest in the Moranbah South coal tenements from Exxaro Resources for $105 million.
The transaction is conditional on Exxaro first obtaining full ownership of Moranbah South. Exxaro currently owns a 50 percent interest in the project through a joint venture with Anglo American subsidiary Anglo Coal (Grosvenor). Exxaro has exercised its pre-emptive rights to acquire Anglo American's remaining 50 percent interest following the sale of Anglo American's Australian coal assets.
Acquisition expected to close in fourth quarter of 2026
The acquisition is expected to be completed before the end of the fourth quarter of 2026, subject to completion of Exxaro's acquisition from Anglo American and regulatory approvals, including from Australia's Foreign Investment Review Board (FIRB) and the Australian Competition and Consumer Commission (ACCC). Stanmore will finance the transaction using its existing cash balances and liquidity.
Moranbah South contains 724 million mt of coal resources
Moranbah South is an underground project comprising two mineral development licenses and one coal exploration permit. The project is located adjacent to Stanmore's Eagle Downs and Isaac Downs Extension projects, providing potential synergies with the company's existing development portfolio. According to resource estimates cited by Stanmore, Moranbah South contains 724 million mt of measured and indicated coal resources in the Goonyella Middle Seam, which are expected to be of premium hard coking coal quality. Subject to further technical and feasibility studies and the necessary regulatory approvals, these resources could potentially be accessed using infrastructure at the Eagle Downs project.
The acquisition will also eliminate up to $60 million in deferred and contingent consideration payments associated with a 2024 agreement that gave Stanmore rights to apply for a future mining lease over a designated area of the Moranbah South tenements forming part of the Isaac Downs Extension project.
