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Stanmore to acquire remaining interest in SMC from Mitsui

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World Coal,

As previously announced, Stanmore Resources Ltd has completed the acquisition of BHP Minerals Pty Ltd’s 80% interest in BHP Mitsui Coal Pty Ltd, now renamed Stanmore SMC Pty Ltd (SMC), through the acquisition of all the shares in Dampier Coal (Queensland) Proprietary Ltd.

The company has now announced that its wholly owned subsidiary, Dampier Coal, has signed a definitive share sale agreement with Mitsui & Co. (Australia) Ltd and Mitsui & Co., Ltd to acquire the remaining 20% interest in SMC held by Mitsui.

Following completion of the transaction Stanmore will own 100% of SMC.

Marcelo Matos, CEO, comments:

“Following the previous acquisition of the majority interest in SMC from BHP, this transaction allows Stanmore to consolidate its position as a leading metallurgical coal miner in the Bowen Basin. Having 100% control of South Walker Creek and Poitrel, as well as Wards Well and other projects, allows Stanmore to maximise value amongst our assets in the region.”

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Australia coal news BHP Billiton news