M Resources is pleased to welcome completion of the acquisition of Illawarra Coal Holdings Pty Ltd from South32 Limited, by GEAR M Illawarra Met Coal Pty Ltd (GM3).
“Today marks completion of this transaction which delivers to GM3 ownership of a first-class prime hard coking coal complex, accompanied by an equity stake and management rights of the iconic Port Kembla Coal Terminal (PKCT),” said M Resources President and Founder, Mr Matthew Latimore.
“This acquisition is a tremendous opportunity. High quality Australian Metallurgical Coal is of strategic importance to our business, future growth and success.
“We look forward to these assets becoming part of our business portfolio following completion.
“We have tremendous confidence in the management team, and the capability and expertise of the entire workforce, particularly in underground mining,” said Mr Latimore.
M Resources, through GM3, also looks forward to being an active and responsible member of the Illawarra community.
M Resources President Matt Latimore will be a director on the Board of GM3, and M Resources will serve as marketing agent.
For M Resources, GM3 is an important addition to a growing portfolio, which includes significant ownership interests in Stanmore Resources, OneRail and MetaRock.
The consortium was advised by Grant Samuel and Corrs Chambers Westgarth.
Media Inquiries: Paul Bini 0408 721 072
