M Resources

What M Resources does

M Resources Pty Ltd is a privately held, Brisbane-headquartered metallurgical coal commodity trader and mining services group founded in 2011 by Matt Latimore. The company operates an integrated mine-to-market platform covering physical trading of metallurgical coal (prime hard coking coal, low volatile HCC, semi coking coal, PCI), exclusive marketing services for Australian producers, shipping and rail logistics coordination, mine operations management, and site rehabilitation. It ranks among the top three seaborne metallurgical coal movers globally, exporting 25+ million metric tonnes annually with disclosed revenue of $2 billion AUD and $3 billion in assets under management.

The company operates a portfolio of subsidiaries and joint ventures: a controlling shareholding in ASX-listed underground mining services firm Mastermyne Group (MYE); a 50% stake in OneRail, which transports 63 Mtpa across NSW and Queensland to the Port of Newcastle; the GM3 joint venture with Golden Energy and Resources owning the Illawarra Metallurgical Coal assets (Appin and Dendrobium mines); wholly owned M Critical Minerals (copper, vanadium, graphite); and Merald (mine rehabilitation). In 2026, M Resources also sponsored the Nasdaq-listed SPAC M Evo Global Acquisition Corp II (MEVOU), which raised US$300 million to pursue critical minerals targets.

M Resources makes money through transaction-based take rates on physical commodity trading flows, fees on marketing services performed under exclusive long-term contracts with producers, and managed services for mine operations and logistics coordination. Pricing is bespoke and quote-driven per transaction rather than standardised. Its customer base comprises metallurgical coal producers seeking global market access (Stanmore Resources, Illawarra Metallurgical Coal) and steel mills requiring reliable coking coal supply (POSCO, among others), with go-to-market executed through a 10-office global network covering Australia, Asia, Europe, and the Americas.

Name

M Resources

Legal name

M Resources Pty Ltd

Website

https://mresources.com.au

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

M Resources is a privately held, Brisbane-headquartered metallurgical coal commodity trader and mining services group operating one of the world's top three seaborne coking coal flows (25+ million tonnes annually, $2 billion revenue), serving coal producers and steel mills through an integrated trading, marketing, logistics, and mine operations platform across 10 global offices.

Ownership category

akta.pro rank

Product category

Metallurgical Coal Trading & Steelmaking Raw Materials Services

NAICS

Support Activities for Metal Mining (213114), Other Metal Ore Mining (212290), Metal Ore Mining (2122)

SIC

Metal Mining (1000), Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532)

akta.pro primary industry

Mine Operations Contracting (Open-Pit & Underground Development, Production, Load/Haul) (IMAKAKAD)

akta.pro secondary industry

Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)

Keywords

• Metallurgical coal trading
• Steelmaking raw materials
• Coal marketing services
• Mining logistics coordination
• Mine operations management

Headquarters

HQ city

Brisbane

HQ country

Australia

HQ region

Oceania

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Physical Trading: Trading of metallurgical coal including prime hard coking coal, low volatile HCC, semi coking coal and PCI. Physical commodity trading between producers and steel mills globally.
2. Marketing Services: Marketing services for coal producers including exclusive marketing rights for Stanmore Resources and Illawarra Metallurgical Coal. Revenue from procurement and selling of steelmaking raw materials on behalf of suppliers.
3. Logistics Services: Shipping and rail coordination services, ensuring compliance with quality and safety contract stipulations, documentation preparation for shipments, billing and regulatory notices.
4. Mine Operations: Workforce and technology management of mining activities including raw materials handling and processing procedures.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

M Resources is a market leader in metallurgical coal and steelmaking raw materials, providing integrated end-to-end services from mine to market. The company engages in physical trading of prime hard coking coal, low volatile HCC, semi coking coal, and PCI; marketing services with exclusive rights for major Australian producers; logistics coordination (shipping and rail); mine operations management; and site rehabilitation through its subsidiaries.

Product overview

M Resources is a commodity trading and services company operating as a single integrated platform for metallurgical coal and steelmaking raw materials. The core M Resources brand offers marketing, resource trading, logistics coordination, mine operations, and site rehabilitation services. The M Group portfolio includes subsidiaries and joint ventures: M Critical Minerals (copper/critical minerals exploration), M Evo Global Acquisition Corp II (SPAC listed on Nasdaq), GM3 (metallurgical coal mining joint venture with GEAR), Mastermyne (underground mining services), OneRail (rail haulage), and Merald (mine rehabilitation services).

Differentiator

Problem solved

Functional benefit

Products and services

• Metallurgical Coal Marketing Services
• Resource Trading
• Logistics Coordination
• Mine Operations Management
• Site Rehabilitation Services
• Rail Haulage (via OneRail)
• Underground Mining Services (via Mastermyne)
• Critical Minerals Exploration (via M Critical Minerals)
• M Evo Global Acquisition Corp II (SPAC)

Quantifiable outcome

• 25+ million metric tonnes of metallurgical coal exported annually
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• Golden Energy and Resources (GEAR)coreStrategic or Co-development Partner · 18 June 2026Consortium of GEAR and M Resources acquired Tahmoor Coal assets from liquidators, including Tahmoor Coal Mine (underground metallurgical coal in NSW), associated tenements, and Port Kembla Coal Terminal shares. Expected to close Q3 2026 pending ACCC and FIRB approvals.
• JSW Group / Inspire Institute of SportminorGTM or Marketing Partner · 24 March 2026M Resources partnered with JSW Group's Inspire Institute of Sport to support the Squash Excellence Program for 20 elite, performance, and development squad athletes preparing for LA 2028 Olympics.
• Hazer Group LimitedcoreStrategic or Co-development Partner · 28 January 2026M Resources formed a partnership with Hazer Group for the Whyalla steelworks bid, including Hazer's methane pyrolysis technology as a carbon abatement strategy. Hazer was selected for the bid and secured a binding MoU with M Resources for the decarbonisation solution.
• Jennmar HoldingscoreChannel Partner/ Reseller/ Distributor · 19 January 2026Mastermyne (M Resources subsidiary) extended exclusive distribution agreement with Jennmar for strata consolidation products until 2047. Follows Jennmar's acquisition of Weber Mining including brands Rocsil, Fenoflex, Marithan, and Marisil.
• POSCOcoreStrategic or Co-development PartnerExtended strategic collaboration with POSCO, world's 6th largest steel producer. Following successful graphite testing, M Resources continues partnership for steel industry positioning and graphite product development.
• OneRailcoreStrategic or Co-development PartnerM Resources owns 50% share and management rights in OneRail, a leading rail company transporting 63 Mtpa across NSW and Queensland, serving the Hunter Valley Coal Chain.
• Mastermyne Group LimitedcoreStrategic or Co-development PartnerM Resources holds controlling shareholding in Mastermyne, a specialist underground mining services group listed on ASX (MYE), providing engineering, trades, and mining services.
• GM3 (Illawarra Coal Holdings)coreStrategic or Co-development PartnerM Resources is a partner in GM3 (jointly with GEAR), the entity that owns Illawarra Coal Holdings including Appin and Dendrobium mines. M Resources has exclusive marketing rights for Illawarra Metallurgical Coal output.
• Stanmore ResourcescoreStrategic or Co-development PartnerM Resources holds exclusive marketing rights for Stanmore Resources' metallurgical coal production and has investments in the company.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Vitol: Vitol is one of the world's largest independent commodity traders (oil, metals, coal) with a Geneva-based trading platform. Comparable as a privately-held global commodity trader serving industrial customers, though Vitol's coal trading is a smaller share of a much larger energy-led business.
• Anglo American: Anglo American is a major diversified miner with significant metallurgical coal assets (Moranbah, Grosvenor, Dawson in Queensland) and broader exposure to copper, iron ore, and platinum. It is comparable as a large-scale met coal producer with global marketing capabilities, but within a much broader portfolio.
• Glencore: Glencore is the world's largest seaborne thermal and metallurgical coal trader and a major producer, with a diversified commodity trading platform spanning coal, copper, cobalt and other minerals. It is the most directly comparable peer to M Resources given its scale in coking coal marketing, trading, and logistics, but operates at much larger scale and across many more commodities.
• South32: South32 is a diversified miner that previously owned the Illawarra Metallurgical Coal assets (Appin, Dendrobium) sold to the GM3 consortium (M Resources + GEAR) in 2024. It remains a comparable peer in the metallurgical coal marketing and trading space as a former owner of key assets M Resources now operates.
• BHP: BHP is one of the world's largest metallurgical coal producers (BMA joint venture in Queensland's Bowen Basin) and a major diversified miner. Comparable as a global coking coal producer with integrated marketing and logistics; multiple M Resources executives previously held roles at BHP/BHP Billiton.

Direct peers

• Stanmore Resources: Stanmore Resources is an Australian metallurgical coal producer (South Walker Creek, Isaac Plains, Poitrel) for which M Resources holds exclusive marketing rights. While technically a customer/supplier, it is one of the most directly comparable producers in the Bowen Basin met coal space.
• Coronado Global Resources: Coronado Global Resources is a US-listed pure-play metallurgical coal producer with Australian and US operations (Curragh, Buchanan). Directly comparable as a metallurgical coal-focused miner; the company's former Curragh mine is where M Resources founder Matt Latimore previously led sales and marketing.
• Whitehaven Coal: Whitehaven Coal is a leading Australian metallurgical and thermal coal producer with significant NSW operations (Maules Creek, Narrabri, Gunnedah). It is a directly comparable Australian met coal peer with overlapping customer base and geography, though it is a pure producer rather than a trader/marketer.
• Golden Energy and Resources (GEAR): GEAR is an Indonesian-listed metallurgical coal producer and M Resources' joint venture partner in GM3 (Illawarra Coal Holdings) and the consortium acquiring Tahmoor Coal. Directly comparable as a metallurgical coal producer with Australian coking coal exposure and a close strategic partner.

Regional players

• Mastermyne Group: Mastermyne Group is an ASX-listed (MYE) underground mining services provider majority-owned by M Resources, operating across Queensland and NSW coal sector. Directly comparable as an underground coal mining services business, but smaller and focused purely on services rather than trading/marketing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/m-resources

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about M Resources