Stanmore Resources Ltd. has agreed to acquire a 100 per cent interest in the Moranbah South metallurgical coal tenements from South Africa’s Exxaro Resources for US$105 million (AU$157 million).
The transaction expands Stanmore’s growth portfolio in Queensland’s Bowen Basin, adding 724 million tonnes of Measured and Indicated Coal Resources in the high-quality Goonyella Middle Seam.
The acquisition is conditional on Exxaro completing its purchase of Anglo American’s 50 per cent stake in the Moranbah South joint venture, following Exxaro’s exercise of pre-emptive rights triggered by Anglo’s broader Australian coal asset divestment.
Located immediately adjacent to Stanmore’s Eagle Downs and Isaac Plains Complex, the Moranbah South tenements offer major operational synergies.
The premium hard coking coal resources could potentially be accessed using existing drift infrastructure at Eagle Downs, pending further technical and regulatory assessments.
Stanmore CEO Marcelo Matos described the deal as a major milestone for the company’s expansion plans.
“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,” Matos said.
“The significant resources base of Moranbah South is expected to be of premium hard coking coal quality and may potentially be accessed through mine infrastructure at Eagle Downs, should that project be developed.”
Beyond adding substantial resource scale, the acquisition extinguishes up to US$60 million in deferred and contingent consideration liabilities linked to a 2024 agreement that granted access to the nearby Isaac Downs Extension project through Moranbah South land.
Matos highlighted that eliminating these payments further enhances the transaction’s value and significantly improves the underlying economics of the Isaac Downs Extension.
Stanmore plans to fund the US$105 million purchase using existing cash reserves and liquidity. The transaction does not require shareholder approval, but remains subject to standard regulatory sign-offs, including FIRB and ACCC clearance, alongside indicative ministerial approval.
Completion of the deal is expected before the end of the fourth quarter of 2026.