Stanmore Expands Coal Holdings

Stanmore Resources (ASX: SMR) has inked a deal with Aquila Coal Pty Ltd, under China Baowu Steel Group, to purchase a 50% stake in Eagle Downs and a complete 100% in Eagle Downs South, achieving full ownership of these metallurgical coal projects.

This acquisition, settled for upfront payments and contingent considerations based on production milestones and coal price thresholds, complements an earlier transaction with South32 for similar interests. Set to close in the second half of 2024, pending regulatory approvals, this move consolidates Stanmore's asset portfolio, enhancing control and development efficiency. The deal's strategic aim is to optimize development costs, leveraging Stanmore's existing infrastructure to unlock full asset value.

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