Coronado Global Resources (CODQL) is a metallurgical coal mining company that produces, markets, and exports high-quality Met coal from operations in Australia and the United States. Revenue is generated through the sale of Met coal, priced on annual contracts negotiated bilaterally or with reference to benchmark and spot indices, with a smaller volume of thermal coal sold as a byproduct. The company operates three long-life mining assets: the 100%-owned Curragh complex in Queensland's Bowen Basin (comprising Curragh North, Curragh South, and Mammoth Underground mines), and the Buchanan and Logan mines in Virginia and West Virginia. Curragh sold 6.9 MMt of Met coal into seaborne markets in FY2025, with 67.0% of Australian Operations volume being Met coal and 33.0% thermal coal. U.S. Operations derived 96% of coal revenue from Met coal in FY2025. The company serves steel producers across five continents, with end-use in automotive, construction, and infrastructure sectors.

Revenue model

Transactional coal sales priced on annual contracts, quarterly index averages, or spot indices. Average realized price per metric ton sold is a primary performance metric. Domestic U.S. contracts are priced free-on-rail at the mine; export sales include direct and intermediary-brokered arrangements.

Products and services

High-quality metallurgical (Met) coal used as a feedstock in blast furnace steelmaking. Thermal coal sold as a byproduct, primarily to Stanwell (Australian Operations). Multiple coal grades sold from both the Curragh complex and the U.S. CAPP-region mines.

Customers and end markets

Steel producers in North America and export markets across five continents. End markets include automotive, construction, and infrastructure sectors. Curragh's Met coal is sold substantially under term contracts; majority of customers purchase multiple grades and have purchased continuously through commodity pricing cycles. Thermal coal from Australian Operations is primarily sold to Stanwell.

Value-chain role

Upstream coal producer and global marketer. Handles mining, coal preparation, and transportation to port for export customers. Uses Norfolk Southern and CSX Transportation for U.S. rail logistics. Holds take-or-pay obligations at the Wiggins Island Coal Export Terminal (WICET) in Australia for export throughput.

Geographic exposure

Australia (Queensland, Bowen Basin) and United States (Virginia, West Virginia, Pennsylvania). Exports to customers spanning five continents. Australian Operations reported segments separately from U.S. Operations in FY2025 10-K.

Source: SEC 10-K, filed 2026-03-03

Industry: Silver Ores