Stanmore Resources Limited (ASX:SMR) entered into a share sale agreement to acquire remaining 20% stake of Stanmore SMC Holdings Pty Ltd from Mitsui & Co., Ltd. (TSE:8031) and Mitsui & Co. (Australia), Ltd. for $380 million on August 12, 2022. The Transaction is expected to be completed during the fiscal year ending March 2023, subject to the satisfaction of conditions precedent which include obtaining relevant regulatory approvals.

On September 30, 2022, regulatory board approvals obtained.