M Resources has announced the successful completion of the acquisition of Illawarra Coal Holdings Pty Ltd from South32 Limited by GEAR M Illawarra Met Coal Pty Ltd (GM3).
This landmark transaction marks a significant milestone for M Resources and its partners.
The acquisition includes ownership of a premier coking coal complex and an equity stake in the iconic Port Kembla Coal Terminal (PKCT).
Matthew Latimore, President and Founder of M Resources, expressed enthusiasm about the deal, stating: “Today marks completion of this transaction which delivers to GM3 ownership of a first-class prime hard coking coal complex, accompanied by an equity stake and management rights of the iconic Port Kembla Coal Terminal.”
Latimore emphasised the strategic importance of high-quality Australian Metallurgical Coal to M Resources’ business, future growth, and success.
The company views this acquisition as a tremendous opportunity to expand its portfolio and strengthen its position in the metallurgical coal industry.
M Resources has expressed confidence in the existing management team and workforce, particularly praising their expertise in underground mining.
The company is committed to being an active and responsible member of the Illawarra community through GM3.
As part of the acquisition, Matthew Latimore will serve as a director on the Board of GM3, while M Resources will act as the marketing agent for the newly acquired assets.
This move ensures continuity and leverages M Resources’ expertise in the sector.
For M Resources, the GM3 acquisition is a significant addition to its expanding portfolio, which already includes substantial ownership interests in Stanmore Resources, OneRail, and MetaRock.
This diversification strategy positions M Resources as a key player in the resources sector.
The consortium behind this acquisition was advised by Grant Samuel and Corrs Chambers Westgarth, highlighting the professional approach taken in this significant business transaction.