Image source: Shutterstock 

Highlights

  • Yari Minerals to acquire 100% of Resource Chain Pty Ltd, gaining access to the Rolleston South Coal Project with a 78.9Mt inferred resource.

  • The 272km² project is located in Queensland’s Bowen Basin, adjacent to major coal players Glencore and Peabody.

  • Acquisition includes upfront and deferred consideration totaling 119.6 million Yari shares (19.9% of issued capital), subject to due diligence.

Yari Minerals Limited (ASX:YAR) has announced a major step forward in its resource portfolio expansion, signing an agreement to acquire Resource Chain Pty Ltd, the legal and beneficial owner of the Rolleston South Coal Project in Queensland’s Bowen Basin. This strategic acquisition marks Yari’s first foray into the coal sector, securing a JORC Inferred Resource of 78.9 million tonnes (Mt) of high-calorific value coal and significant exploration potential.

Located over a 272 km² tenement, the Rolleston South project lies in proximity to the operations of global mining giants Glencore and Peabody, both of which have established coal assets within a 25 km radius. This provides Yari with access to existing infrastructure, including sealed roads and nearby railways.

The project contains six identified coal seams, which remain largely undeveloped. Previous exploration has confirmed their presence but left room for further delineation and expansion, offering substantial upside for resource growth and future economic studies.

Yari Minerals sees this acquisition as a transformative opportunity, positioning itself in a world-class coal basin at a time of increasing demand for metallurgical coal. The company plans to target semi-soft metallurgical coal production and is preparing for an inaugural drilling campaign to validate targets and expand resources.

“This is an exciting opportunity to strengthen our asset base with a highly prospective project in one of the world’s most productive coal regions,” said a company spokesperson. “With quality infrastructure already in place and proven regional coal systems, Rolleston South fits squarely within our growth strategy.”

The transaction is structured with a mix of upfront and deferred consideration, including the issue of 119,560,669 Yari shares, equating to 19.9% of the company’s issued capital. Completion of the deal remains subject to due diligence, including technical and legal reviews of both Resource Chain Pty Ltd and the Rolleston South Coal Project.