Stanmore Resources had decided to start taking the necessary steps to cease operations at its Mavis underground coal project, part of the Millennium Complex, in Queensland’s Bowen Basin region. A strategic review by the miner determined that “the Mavis Underground project has proven to be uneconomic under current market conditions and coal prices, with comparatively higher costs driven among other…
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Golding Contractors, a wholly owned subsidiary of NRW Holdings, has acquired the mining services contract, associated fleet and transfer of the employees that HSE Mining has deployed to Stanmore Resources’ South Walker Creek coal mine in Queensland. The transaction, valued at $85 million, will be funded via NRW’s asset finance facilities. “I am delighted that NRW has been successful in…
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Coal miner Peabody has completed its acquisition of Wards Well coal deposit immediately next to its Centurion mine complex in Queensland, Australia. The transaction was with seller Stanmore Resources, and carried a cash price tag of $136 million as well as a contingent royalty of up to $200 million payable after recovery of the related project investment when coal prices…
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Queensland-based Stanmore Resources said its wholly owned subsidiary, Dampier Coal, has signed an agreement to purchase the remaining 20% interest in BHP Mitsui Coal – now Stanmore SMC – for US$380 million from Mitsui & Co.
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BHP announced 8 November it has inked a deal to divest its 80% holding in BHP Mitsui Coal (BMC), effectively exiting the metallurgical coal scene in Queensland, Australia.
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