Stanmore Resources has delivered record coal production at its South Walker Creek mine in Queensland as the company prepares to expand its Bowen Basin portfolio.
South Walker Creek produced 2.8 million tonnes of run-of-mine (ROM) coal and 1.9 million tonnes of saleable coal during the September quarter, setting quarterly records for both measures.
Stanmore attributed the performance to its earlier focus on stripping and pit preparation, alongside strong results from the mine’s coal handling and preparation plants.
Across its operations, Stanmore reported 5.3 million tonnes of ROM coal and 3.4 million tonnes of saleable production.
Stanmore chief executive officer Marcelo Matos said the results reflected the company’s operational preparations earlier in the year.
“Stanmore delivered another strong operational performance in the third quarter, with South Walker Creek achieving new quarterly records for both ROM and saleable production following our deliberate prioritisation of stripping and pit preparation earlier in the year,” Matos said.
Stanmore reported an average realised coal sales price of $US163 per tonne, up six per cent from the June quarter.
The company also reduced net debt by $US53 million to $US19 million, finishing September with $US231 million in cash and total liquidity of $US501 million.
Meanwhile, Stanmore is progressing its proposed $US105 million acquisition of the Moranbah South tenements from Exxaro Resources.
The tenements, located adjacent to Stanmore’s Eagle Downs and Isaac Downs Extension projects in Queensland’s Bowen Basin, contain 724 million tonnes of measured and indicated coal resources in the Goonyella Middle Seam.
Stanmore said the resources could potentially be accessed through existing infrastructure at Eagle Downs if that project proceeds, subject to further technical studies, feasibility assessments and regulatory approvals.
“We’re focused on completing the Moranbah South acquisition, a compelling opportunity to add a significant resource right next door to Eagle Downs and the Isaac Plains Complex,” Matos said.
Completion remains conditional on Exxaro’s acquisition of Anglo American’s interest in Moranbah South and the necessary regulatory approvals. Stanmore is targeting completion before the end of 2026.