Stanmore to acquire remaining interest in SMC from Mitsui

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.”