Stanmore Resources Acquires 50% of South 32’s Interests

Stanmore Resources Limited (ASX: SMR), a prominent Australian entity, recently made waves in the stock market with its latest announcement. The company has finalized plans to acquire a significant stake in the Eagles Down Project, affiliated with mining giant South 32 ASX. This project currently holds an estimated value of $135 million.

In a strategic move, Stanmore Resources Limited has reached an agreement with South 32 Australia to procure a substantial 50% interest in the Eagle Downs Metallurgical Coal Joint Venture Project situated in Queensland. This acquisition marks a significant step for Stanmore Resources Limited in bolstering its presence in the mining sector.