Stanmore, an Australian mining firm, completed the acquisition of an 80% stake in BHP Mitsui Coal, an operated metallurgical coal joint venture, from BHP Minerals, an Australian-British multinational mining, metals and petroleum public company, for $1.35bn. "The completion of this transaction marks an important milestone in our history. Metallurgical and PCI coal prices remain at historically high levels and Stanmore will benefit from those prices with the addition of production of approximately 10m tonnes of marketable metallurgical quality coal creating substantial additional value for the company," Marcelo Matos, Stanmore CEO.