Stanmore Resources is sitting on coal resources totalling more than four billion tonnes across its fully-owned Queensland tenements after taking control last year of former BMC (BHP Mitsui Coal) assets. 

The company this week reported total coal reserves (ROM) across all controlled tenements of 218 million tonnes and total marketable coal reserves of 166 million tonnes, including reserves at The Range project.

Stanmore Resources ended 2022 with about $640 million cash in hand and returned a record underlying EBITDA of about $2 billion for the year.

Stanmore’s coal resources of 4 billion-plus tonnes at the end of December 2022 included 2.339 billion tonnes across the former BMC assets, including 149 million tonnes at Poitrel, 679 million tonnes at South Walker Creek and 1.168 billion tonnes at the Wards Well project.

It held 160 million tonnes across the Isaac Plains mining complex near Moranbah and a further 630 million at the Clifford project and 286 million tonnes at The Range in the Surat Basin.

Stanmore also holds a 50 per cent stake in MetRes with M Mining (the joint venture’s manager and operator), holder of the Millennium and Mavis Downs mine complex, adjacent to Stanmore’s Isaac Downs mine. This held 20 million tonnes in coal resources at the end of 2022.