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Stanmore Resources announces Isaac Downs mining services agreement

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World Coal,

The Board of Stanmore Resources Ltd has announced that EPSA Pacific Pty Ltd has been awarded a five-year opencast mining services agreement (MSA) with a current value AUS$564 million at its Isaac Downs Mine.

Awarding of this contract marks a major milestone in moving to full production at the Isaac Downs Mine following completion of all regulatory approvals in 3Q21.

In conjunction with the awarding of the MSA, EPSA will become the statutory coal mining operator (CMO) for the Isaac Plains Complex, and Stanmore will transition to an owner-operator model for the coal handling and preparation plant (CHPP).

Stanmore acknowledges and thanks Golding, the current CMO under the existing MSA, for their services and successful partnership over the duration of the MSA. A termination notice in respect of that MSA has been given to Golding, and a carefully managed transition plan will be implemented to ensure business continuity and the minimisation of any disruption, including but not limited to a workforce consultation process focused on the potential retention of experienced operators.

The new MSA with EPSA will provide operational flexibility allowing Stanmore to capture additional value while navigating market conditions. EPSA brings brand new equipment, as well as a highly experienced management team and state-of-the-art operations and maintenance control systems.

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