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Bowen Basin

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Stanmore (ASX: SMR) agrees $105m Moranbah South deal as 724Mt resource joins pipeline

Stanmore Resources has agreed to acquire the Moranbah South tenements from Exxaro Resources for US$105 million, adding 724 million tonnes of Measured and Indicated coal resources beside two of its key Bowen Basin development projects. The transaction also extinguishes up to US$60 million of contingent obligations, although completion remains subject to Exxaro first consolidating ownership and obtaining regulatory approvals.