Tag: Stanmore Coal

Stanmore Coal has had great success with its pivot to Isaac Plains East operations in Queensland’s Bowen Basin, and looks set for a strong finish for 2019 with a solid toehold in the metallurgical coal market into 2020 and beyond. STANMORE Coal has reaped the financial rewards this year from its transition from the original Isaac Plains mine to Isaac Plains East in 2018. Chairman Stuart Bute said that favourable conditions and lower strip ratios at the new mine helped the company achieve an improved mix of coking and thermal coals, reduce production costs and increased sales prices and margins. “The company’s revenue from operations totalled a new record of $403.1m, an increase of 93pc on the previous year,” Mr…

All images: Stanmore Coal. STANMORE Coal’s grand plan to turn its $1 Isaac Plains mine into a 15-year mega project is beginning to pay off, with its share price reaching an eight-year high during March on the back of strong half-year results and timely acquisitions. STANMORE Coal has risen from a near-death experience during the coal downturn, to a company that stands today with healthy cash flow and a portfolio of long-life assets. The miner’s renaissance began in July 2015 when it nabbed Peabody subsidiary Millennium Coal’s undeveloped Wotonga (Isaac Plains East) project for $7 million. And then – the deal everyone remembers – its $1 purchase of Vale SA and Sumitomo Corp’s nearby Isaac Plains mine and infrastructure, which…

All images: Stanmore Coal. BY ELIZABETH FABRI THREE years; that’s all it took for Stanmore Coal to turn the two-year Isaac Plains mine into a 15-year mega project. Through strategic (and timely) acquisitions, Stanmore Coal now has a strong footprint in the Bowen Basin, and healthy cash flow as coal prices remain strong. Stanmore Coal’s purchase of the shuttered Isaac Plains mine several years ago was a watershed moment for the then-explorer. In 2015, the coal market was in the depths of a downturn. Prices were so bad many companies were looking for an out, but Stanmore Coal had other plans. In July 2015, the company entered a deal to pick up Peabody subsidiary Millennium Coal’s undeveloped Wotonga (Isaac Plains…