Coronado Global Resources (OTC: CODQL) Files Quarterly Activities Report with ASX

On January 22, 2025, Coronado Global Resources Inc. submitted a quarterly activities report to the Australian Securities Exchange (ASX), detailing unaudited financial information for the quarter and fiscal year ended December 31, 2024. This report complies with the ASX’s quarterly reporting requirements.

The report highlights the accomplishments for the quarter, including the successful commencement of operations at the Mammoth Underground Mine within the Curragh Complex. The company celebrated the ‘First Coal’ ceremony, marking a significant achievement in expanding Coronado’s growth portfolio. The report outlines Coronado’s focus on building coal inventory, reducing operational costs, and optimizing productivity across its operations.

In terms of operational updates, the Mammoth Underground Mine delivered first coal in December 2024 as planned. Similarly, the Buchanan expansion project progressed on schedule and within budget. Improved performance in Australian operations contributed to a solid quarter, with notable increases in ROM production, saleable production, and sales volumes compared to the previous quarter. The U.S. operations experienced anticipated reductions in ROM and saleable production due to a scheduled longwall move at Buchanan.

Financially, the report indicates a fourth-quarter Group revenue of $558 million and a strong cash balance of $340 million, with total revenue for December YTD 2024 at $2,508 million. The report highlights a 17.3% decrease in average mining costs per tonne sold compared to the previous quarter, reflecting improvements in productivity and cost reduction efforts.

Moreover, the report includes information on safety metrics, with both Australian and U.S. regions reporting Total Reportable Incident Rates below industry averages. In terms of future outlook, Coronado remains optimistic about the met coal market, anticipating stable demand conditions with potential price recovery and improved steel production outside of China.

Coronado’s comprehensive report encompasses operational, financial, and forward-looking market insights, reflecting the company’s commitment to operational excellence, cost efficiency, and market-driven strategies. The planned release date for the full fourth-quarter and YTD 2024 financial results (Form 10-K) is set for February 20, 2025, reflecting the company’s dedication to transparency and timely reporting.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Coronado Global Resources’s 8K filing here.

Coronado Global Resources Company Profile

Coronado Global Resources Inc, together with its subsidiaries, produces, markets, and exports metallurgical coal in Asia, North America, South America, Europe, Australia, and internationally. The company owns a portfolio of operating mines and development projects in Queensland, Australia; and Virginia, West Virginia, and Pennsylvania in the United States.