Annual Review 2022
FY22 Highlights
About Coronado
About Coronado
FY22 Full Year Results


CARE Values
About Coronado
About Coronado
FY22 Full Year Results


CARE Values
Operational Overview

FY22 Performance Summary
For the Year Ended 31 December 2022
1 All volumes are quoted in metric tonnes
Some numerical figures in the document have been subject to rounding adjustments. Accordingly, numerical figures shown as totals may not equal the sum of the figures that follow them.
Steel Starts Here
Production of Steel
When iron is combined with carbon, recycled steel, and other elements, it is transformed into a much stronger material called Steel which can be 1,000 times stronger than iron.
Wide Use of Steel
Steel is used in almost every aspect of the world’s infrastructure, including buildings, bridges, rail systems and houses, as well as in motor vehicles and everyday white goods. It is also essential to electric vehicles and wind turbines and is a critical component of other low-carbon technologies such as hydro, solar and nuclear energy.
Met coal is therefore recognised as an essential building block in the world’s transition to renewable energy and a low-carbon economy.
Total global crude steel production reached 1.8 billion tonnes in 2022. Steel production is broadly used as follows:
Metallurgical coal, a fundamental ingredient in the production of steel, enables the construction of renewable energy infrastructure which is critical for the transition to a low-carbon economy.
Source: All statistics based on market research that assumes approximately 780 kilograms (kg) of Met Coal to make one tonne of steel.
(a) Data sourced from https://www.goldengate.org/bridge/history-research/statistics-data/design-construction-stats;
(b) Data sourced from https://info.cecr.in/empire-state-building/;
(c) Data sourced from World Steel Association;
(d) Data sourced from Queensland Resources Council and World Steel Association.
Its multi-functional nature allows for broad use in everything from major infrastructure projects, to transport including cars and airplanes, and even common household appliances. Steel is also a core component of next generation renewable energy solutions such as solar, wind and hydro, and can also be recycled, making it uniquely sustainable material to be used for generations to come.
Wide Use of Steel
Steel is used in almost every aspect of the world’s infrastructure, including buildings, bridges, rail systems and houses, as well as in motor vehicles and everyday white goods. It is also essential to electric vehicles and wind turbines and is a critical component of other low-carbon technologies such as hydro, solar and nuclear energy.
Met coal is therefore recognised as an essential building block in the world’s transition to renewable energy and a low-carbon economy.
Total global crude steel production reached 1.8 billion tonnes in 2022. Steel production is broadly used as follows:
Metallurgical coal, a fundamental ingredient in the production of steel, enables the construction of renewable energy infrastructure which is critical for the transition to a low-carbon economy.
Source: All statistics based on market research that assumes approximately 780 kilograms (kg) of Met Coal to make one tonne of steel.
(a) Data sourced from https://www.goldengate.org/bridge/history-research/statistics-data/design-construction-stats;
(b) Data sourced from https://info.cecr.in/empire-state-building/;
(c) Data sourced from World Steel Association;
(d) Data sourced from Queensland Resources Council and World Steel Association.
Its multi-functional nature allows for broad use in everything from major infrastructure projects, to transport including cars and airplanes, and even common household appliances. Steel is also a core component of next generation renewable energy solutions such as solar, wind and hydro, and can also be recycled, making it uniquely sustainable material to be used for generations to come.
Sustainability of Steel
Steel is essential to modern society. Steel protects and provides strong frameworks for our buildings. It can be found in rails, roads, vehicles and domestic appliances. Steel delivers our food and water and enables energy generation and transmission.
Steel is inextricably linked with economic growth and prosperity. It has enabled our modern way of life. It has spurred economic growth, lifting millions of people out of poverty, and continues to do so around the world today.
Steel is also a core component of next generation renewable energy solutions such as solar and wind farms and can also be recycled, making it a uniquely sustainable material to be used for generations to come.
Steel is 100% recyclable and can be reused infinitely. On average new steel products contain 30% recycled steel. Steel products are durable and last a long time, with the average life span for a steel product being 40 years.
Steel is the most recycled material in the world. In 2022, the global stel industry recycled around 680 million tonnes of scrap, saving nearly 1 billion tonnes of CO2 emissions that would have been emitted from the production of virgin steel.
Source: World Steel Association
Sustainability
Coronado has set a target to reduce Scope 1 and 2 emissions by 30% by 2030.
2022 Highlights
Sustainability Targets
1 Scope 1 and 2 emissions baselines are calculated in line with current methodology (as per National Greenhouse and Energy Reporting and Environmental Protection Agency Greenhouse Gas Reporting Program regulatory calculations), including estimates for present Life of Mine production profile and resource depletion plan.
- Target refers only to Scope 1 and 2 emissions. Baselines are exclusive of any acquisitions and will be adjusted as required.
- U.S. Scope 1 fugitive emissions reductions are based on potential performance on the Ventilation Air Methane Regenerative Thermal
Oxidation units and historic methane concentrations throughout the Buchanan Mine. - To offset U.S. Scope 2 emissions from purchased electricity consumption, renewable energy certificates may be purchased.
- Curragh baselines (based on Scope 1 and 2 emissions) do not include allowances for expansion options such as underground mining
or accelerated open cut mining. - Carbon offsets may be used to achieve targets and these will be selected based on those meeting recognised standards as per the Climate Active Carbon Neutral Standard for Organisations.
2 Significant is defined as any adverse effect, or potential adverse effect (whether temporary or permanent and of whatever magnitude, duration or frequency) on an environmental value. It refers to any activity that causes, or is likely to cause, environmental harm and any event that causes or threatens serious or material environmental harm.
Coronado’s Sustainability Principles
Support the health and wellbeing of our people by maintaining a safe workplace with the ultimate goal of zero harm.
Respect our environment by minimising the impact of our business activities and rehabilitating affected landscapes.
Be a valued and active member of the local communities in which we operate by delivering economic benefit and engaging in an open and transparent manner.
Build teams of engaged and motivated individuals that understand the positive and social economic relevance of what they do.
Operate fairly and equitably with suppliers and customers and generate superior and sustainable returns of security holders.
Support the health and wellbeing of our people by maintaining a safe workplace with the ultimate goal of zero harm.
Respect our environment by minimising the impact of our business activities and rehabilitating affected landscapes.
Be a valued and active member of the local communities in which we operate by delivering economic benefit and engaging in an open and transparent manner.
Build teams of engaged and motivated individuals that understand the positive and social economic relevance of what they do.
Operate fairly and equitably with suppliers and customers and generate superior and sustainable returns of security holders.
Coronado’s Total Economic Contribution1
1 Tax Paid, Salaries and Wages, and Payments to Contractors and Suppliers are provided on a cash basis. Tax Paid excludes GST.
2 Total Revenue includes tax refunds.

Sustainability Report
“Ensuring we have a sustainable business is critical to our overall strategy. We are committed to evaluating the environmental, social and governance impacts of our operations and focussing on developing sustainability strategies that create value amongst our broad group of stakeholders.
In 2021 we established targets relating to emissions reductions, critical incidents and workforce diversity and I am very encouraged by the fact that we have progressed against each of these target areas in our first year of reporting against them.”
Downloads
Bringing a Mine to Life
Exploration
Exploration represents the commencement of the mining process. Exploration activities include surveys, drilling, permits, mine technical analysis and planning, legal and financial consultation. The exploration process reflects a Company’s first economic investment to a project and neighbouring community. Coronado maintains a metallurgical coal resource base in excess of 2 billion tonnes (JORC Code). Coronado’s Mon Valley project is currently in this stage of the mine lifecycle.
Mine Design
Mine Construction
Production
Rehabilitation
Exploration
Exploration represents the commencement of the mining process. Exploration activities include surveys, drilling, permits, mine technical analysis and planning, legal and financial consultation. The exploration process reflects a Company’s first economic investment to a project and neighbouring community. Coronado maintains a metallurgical coal resource base in excess of 2 billion tonnes (JORC Code). Coronado’s Mon Valley project is currently in this stage of the mine lifecycle.
Mine Design
Mine Construction
Production
Rehabilitation
Strong Metallurgical Coal Demand Through 2050
Growth for seaborne Met coal is underpinned by Indian demand; Primary source growth from Australia
Global seaborne metallurgical coal demand is forecast to grow 48% to 446 million tonnes by 2050, led primarily by blast furnace steel production in India. India steel growth is projected to increase by 218% to 392 million tonnes by 2050.
India’s seaborne metallurgcial coal demand is forecasted to grow 195% to 186 million tonnes by 2050. Coronado is well positioned as India remains one of Coronado’s largest export markets.
Notes: Data sourced from Wood Mackenzie July 2022 Coal Market Metallurgical Trade Long-term Outlook to 2050; Mmt = Million metric tonnes. Rounding has been applied.
Steel Demand Outlook Remains Firm
India steel production anticipated to grow year-on-year due to urbanisation and industrialisation
Global seaborne metallurgical coal supply is forecast to match demand with Australia expected to continue to be the dominant seaborne producer. Australian supply is forecasted to increase from 171 million tonnes in 2022 to 271 million tonnes in 2050. Production growth is expected to be supported by a combination of brownfield expansion and greenfield development.
Seaborne metallurgical coal supply growth is critical to meeting steel demand expectations and is likely to be impacted by three core issues:
1) access to financing for greenfield developments
2) permitting of projects
3) need for high-quality steel for infrastructure (including renewable energy infrastructure)
Notes: (1) Data sourced from Wood Mackenzie January 2023 GDP Forecasts. (2) Data sourced from Wood Mackenzie July 2022 Coal Market Service Mettalurgical Trade Long-term Outlook; Mmt = Million metric tonnes. Rounding has been applied.
Board of Directors