
Stanmore Resources acquires remaining 50% of Eagle Downs
Stanmore Resources acquires remaining 50% of Eagle Downs Stanmore Resources (ASX: SMR) has acquired the remaining 50% in the Eagle Downs metallurgical coal project and 100% of the Eagle Downs South tenements in Queensland. Stanmore acquired the first 50% of Eagle Downs from South32 (ASX: S32) in early February 2024. The remaining 50% was held by Aquila Coal, a subsidiary of China Baowu Steel Group Corporation. For Eagle Downs, Stanmore will pay $22.81m (US$15m) in cash to Aquila on completion of the transaction and $30.41m (US$20m) payable upon the first 100kt of col being mined from longwall mining methods. It also consists of a...









