Engaging with our valued Shareholders
Stanmore is an Australian coal company predominately producing metallurgical coal from our Isaac Plains Complex which has operational capacity of 3.5Mtpa ROM coal and marketable reserves of 35.1Mt. Approximately 50% of product metallurgical coal is exported to customers in Japan and Korea, with an expanding customer base in India and Europe.
The business has established a track record for sourcing, developing, operating and rehabilitating coal resources, with the recommencement of mining operations at Isaac Plains in 2016 and expansion into Isaac Plains East in 2018. Stanmore is also seeking approvals for the Isaac Downs project that is expected to produce approximately 35 million tonnes over 16 years. Utilising our existing coal processing and transport infrastructure gives Stanmore low capital incremental growth options based on competitive cost structures and long mine lives.
The combination of demonstrated operating performance, disciplined investment pipeline and a fully prepared organisation underpin our focus on margins and cash generation, and provides certainty of returns for Stanmore shareholders.
On 18 May 2020, the on-market takeover offer by Golden Investments (Australia) Pte. Ltd. (Golden Investments) closed. Golden Investments acquired 75.33% of the company's shares. Refer to ASX announcements dated 19 May 2020 and 25 May 2020.