Stanmore Resources (ASX:SMR) struck a deal to acquire the Moranbah South tenements in Queensland from Exxaro Resources for $105 million, according to a Friday filing with the Australian bourse.

Exxaro currently holds a 50% interest of the tenements through its Australian subsidiaries as part of a joint venture with Anglo American unit Anglo Coal (Grosvenor).

The deal is conditional on Exxaro first holding a 100% interest in the tenements. Stanmore said Exxaro has exercised pre-emptive rights, triggered by the sale of Anglo's Australian coal assets to Dhilmar QLD, to acquire Anglo's 50% interest in the joint venture.

The Moranbah South tenements contain 724 million tonnes of measured and indicated coal resources, which could be accessed through mine infrastructure at Eagle Downs if that project is developed, Stanmore said.

It added that the acquisition also benefits the Isaac Downs extension project through the removal of up to $60 million in deferred and contingent consideration payments.

The deal is expected to be completed before the end of the year.