Stanmore Resources Limited has agreed to acquire a 100% interest in the Moranbah South metallurgical coal tenements from Exxaro Resources Limited for US$105 million. The transaction is conditional on Exxaro holding a 100% interest in the assets following the completion of its pre-emptive acquisition of Anglo American's 50% stake, alongside regulatory clearances including Foreign Investment Review Board, Australian Competition and Consumer Commission, and indicative ministerial approvals. Completion is expected before the end of the fourth quarter of 2026.

The Moranbah South tenements contain 724 million tonnes of Measured and Indicated Coal Resources within the Goonyella Middle Seam. The acquisition eliminates up to US$60 million in deferred and contingent consideration obligations previously established under a September 2024 Designated Area Agreement. That earlier agreement secured rights for Stanmore to explore and apply for a future mining lease over a designated area on the tenements to support the Isaac Downs Extension project.

The agreement also builds on Stanmore's regional asset base, which includes full ownership of the neighbouring Eagle Downs underground metallurgical coal project acquired in August 2024. The company intends to commission an independent resource report for the Moranbah South assets following completion.

"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. The tenements are strategically complementary to Stanmore's neighbouring projects, particularly Eagle Downs and the Isaac Downs Extension.

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. Furthermore, the acquisition of 100% of Moranbah South extinguishes up to US$60 million of deferred and contingent consideration under the 2024 Designated Area Agreement, which enabled access to the Isaac Downs Extension through the Moranbah South tenements. This further enhances the value of the transaction and the economics of the Isaac Downs Extension."

— Marcelo Matos, Chief Executive Officer & Executive Director

Stanmore will fund the purchase using existing cash balances and available liquidity. The transaction does not require shareholder approval and follows recent financial reporting that reported US$174 million in underlying EBITDA for the first half of 2026 across its wider operations in the Bowen Basin. The company intends to maintain its active operational profile across its Bowen Basin portfolio while advancing integration planning for the new tenements ahead of the expected 2026 completion date.

Read the full announcement: Stanmore agrees to acquire Moranbah South