Customer concentration
Top ten customers represented 68.7% of 2025 revenue, so lost contracts would quickly reduce sales.
- Scope
- Tata Steel and ArcelorMittal were 18.2% and 12.4% of 2025 revenue.
- Materiality
- high
Coronado Global Resources Inc.
Coronado Global Resources Inc. is a metallurgical coal producer with operating assets in Australia and the United States. It mines, markets and sells high-quality met coal products used mainly in steelmaking, while also selling smaller volumes of thermal coal and by-product coal from its operations.
21,8 %
−22,2 %
−22,2 %
1.55
1.12
| % | |
|---|---|
| Metallurgical coal | 96% Premium coking coal products sold to steelmakers for coke and steel production. |
| Thermal coal | 4% Lower-volume thermal coal sold mainly under domestic contract and some export sales. |
Coronado sells primarily to steelmakers and steel-related intermediaries that need consistent met coal quality for...
- Steelmakers and blast furnace operatorsprimary
Buy HCC, SCC/SSCC and PCI coal for coke blends and ironmaking; they value quality consistency and coking performance.
- Industrial coal buyers and utilitiessecondary
Buy thermal coal for power generation, mainly through the Stanwell contract and limited export sales.
- Traders and intermediariessecondary
Purchase or facilitate sales of coal into global markets when direct end-user sales are not practical.
Coronado operates a dual-region mining footprint in Australia and the United States, with Australia contributing 60...
- •Australia generated 60.8% of 2025 revenue
- •U.S. operations provide the remaining revenue base
- •Seaborne met coal is sold into Asia, Europe and Brazil
- •Domestic Australian thermal coal is sold to Stanwell
- •Rail, port and shipping access are critical to market reach
Coronado is focused on maximizing value from its met coal portfolio through product quality, customer diversification...
01
Improve operating performance at existing minesshort-term
Higher productivity and lower unit costs support margins in a cyclical coal market.
02
Invest in organic growth and mine lifemedium-term
Sustaining reserve access and production capacity is essential to long-term cash generation.
03
Reduce emissions intensity and energy exposuremedium-term
Climate and carbon costs can affect operating economics, permitting and financing access.
Coronado is exposed to coal price volatility, customer concentration and the operational complexity of running mines,...
Coal price and demand cyclicality
Most sales are priced on daily indices, quarterly resets or annual contracts, so market swings flow through quickly.
- Scope
- Met coal demand is tied to steel production in Asia, Europe and the Americas.
- Materiality
- high
Operational and logistics disruption
The company depends on mine availability plus rail and port infrastructure to deliver coal on time.
- Scope
- Take-or-pay rail and port commitments and transport availability.
- Materiality
- high
Environmental and climate regulation
Mining is heavily regulated and carbon-pricing assumptions can affect project economics and compliance costs.
- Scope
- Australia and U.S. operations, fugitive methane and diesel emissions.
- Materiality
- high
Financing and liquidity constraints
The business requires ongoing capital expenditure and may need debt or equity funding to sustain operations.
- Scope
- Refinancing risk and access to capital markets.
- Materiality
- high
Reserve and mine-life estimates
Changes can alter depreciation, depletion and impairment conclusions
Impairment of mining assets
Could create material non-cash charges
Asset retirement obligations
Affects liabilities and future expense recognition
Revenue recognition under coal contracts
Can create timing differences in reported revenue and margins
Freight, royalties and rebates
Affects operating margin comparability across regions
: 28.4.2026