Key points
- Stanmore to acquire 100% of Moranbah South for US$105 million
- Acquisition expected to boost resource base and strengthen growth platform
- Transaction contingent on Exxaro acquiring Anglo American's 50% interest in Moranbah South
Full summary
Stanmore Resources Limited (ASX:SMR) has announced its agreement to acquire a 100% interest in the Moranbah South tenements from Exxaro Resources Limited (JSE:EXX). The acquisition, valued at US$105 million, is expected to significantly increase Stanmore's resource base and strengthen its growth platform. The Moranbah South tenements, located adjacent to Stanmore's Eagle Downs and Isaac Downs Extension projects, contain 724 million tonnes of measured and indicated coal resources, primarily of premium hard coking coal quality. The transaction is conditional upon Exxaro acquiring Anglo American's 50% interest in the joint venture, which is expected to be completed before the end of the fourth quarter of 2026.
Guidance
Stanmore Resources Ltd. expects to complete the acquisition of Moranbah South by Q4 2026.
Outlook
The acquisition of Moranbah South is expected to provide significant value uplift to Stanmore's development portfolio and strengthen its growth aspirations.