Coronado Global Resources's Business Segments

Coronado Global Resources Inc. is a producer, marketer, and exporter of metallurgical coal used in steel production via blast furnaces. The company operates three metallurgical coal assets in Australia and the United States. In Australia, it owns the Curragh mining property in Queensland, which includes two open-cut mines and one underground mine, with an estimated reserve life of 20 years. In the United States, Coronado owns the Buchanan and Logan producing mines and the Mon Valley development property, with reserve lives of 22 years for Buchanan and 34 years for Logan. The company serves customers across five continents, primarily in Asia, Brazil, and Europe. Australian operations also sell thermal coal under a long-term contract to Stanwell Corporation Limited and in export markets, while U.S. operations produce thermal coal as a byproduct. Founded in 2011, Coronado completed its initial public offering on the Australian Securities Exchange in 2018. Its metallurgical coal products include hard coking coal, semi-hard coking coal, semi-soft coking coal, and pulverized coal injection, all used in steel manufacturing processes.

The company’s reportable business segments are divided geographically into Australian Operations and U.S. Operations. The Australian Operations segment, based at Curragh in Queensland's Bowen Basin, produces metallurgical (Met) coal known for low ash and favorable coking properties, as well as thermal coal primarily sold domestically under a long-term contract with Stanwell. In 2025, this segment accounted for 60.8% of total revenue, with 67.0% of coal volume sold as Met coal and 33.0% as thermal coal. Met coal export sales were primarily conducted under term contracts. The U.S. Operations segment includes producing mining properties in the Central Appalachian (CAPP) region of Virginia and West Virginia. This segment produces Met coal consumed regionally by North American steel producers or exported to steel producers in Asia, Europe, and South America. It also produces small quantities of thermal coal sold to global export markets. Met coal from the CAPP region is characterized by low ash and sulfur content, supporting efficient coke production. Factors influencing the performance of both segments include coal quality, geology, marketing opportunities, mining and transportation methods, and regulatory considerations. Both segments produce similar products and engage in comparable operating activities.