FY21 Highlights


About Coronado
About Coronado
Coronado Global Resources Inc. is a leading international producer of high-quality Met coal, an essential element in steel production. Our coals, transformed in the steelmaking process, support the manufacture of everyday steel-based products that enrich lives around the world - including steel needed for the manufacture of renewable energy infrastructure.
We employ approximately 1,600 people directly and over 1,800 contractors globally with our principal executive office located in Brisbane, Australia. Coronado is one of the largest Met coal producers globally, supplying customers on five continents with a range of high quality coals.
FY21 Full Year Results
Coronado finished the year in a very strong financial position. We delivered substantial increases in Revenue, EBITDA and Net Profit and returned the balance sheet to a Net Cash position. These positive results have benefited from the recent high price environment, but also from the hard decisions taken in mid-2021 to restructure our debt arrangements as we completed a comprehensive $550 million refinancing package, which enhanced liquidity and provided a more flexible capital structure moving forward.
CARE Values
Operational Overview
FY21 Performance Summary
For the Year Ended 31 December 2021
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
Coronado is a leading metallurgical coal producer and trusted supplier to the global steel industry.
Metallurgical coal (Met coal) is an essential ingredient in the production of steel, which is the most utilised metal in the world and an essential material underpinning social and economic growth. Steel’s strength and durability make it critical in the construction of major infrastructure projects (including renewable energy infrastructure), transportation technology, electrical equipment, and everyday household goods such as appliances.
As the world’s population continues to grow and urbanise, steelmakers and their suppliers will play a vital role in providing quality products that support a wide variety of uses well into the future.
Wide use of Steel
Steel is essential to modern society. Steel protects and provides strong frameworks for our buildings and infrastructure, including renewable energy infrastructure. It can be found in rails, roads, vehicles and domestic appliances. Steel delivers our food and water and enables energy generation and transmission.
Met 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.
Total global crude steel production reached 1.9 billion tonnes in 2021. Steel production is broadly used as follows:
Sustainability of Steel
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.
The strength and durability of steel has made it the most important material in our everyday lives.
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.
Energy consumption per tonne of steel
reduced by 60%
since the 1960s, which has contributed to a significant decrease in CO2 intensity
New lightweight high-strength steels make applications
25 - 40% lighter & stronger.
These new steels help other industries reduce their environmental footprint
Sustainability
Coronado has set a target to reduce Scope 1 and 2 emissions by 30% by 2030. Â
1Fugitive 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. The baseline takes 2019 data and is 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 will be purchased in 2022.
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 National Carbon Offset Standard.
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 social and economic relevance of what they do.

Operate fairly and equitably with suppliers and customers and generate superior and sustainable returns for security holders.
Coronado’s Total Economic Contribution1
2 Total Revenue includes tax refunds.

Sustainability Report
Coronado remains focused on the safety and wellbeing of its people, local communities and environment by setting meaningful targets across our material areas of impact. We continue to work in partnership with our customers and broader stakeholders for sustainable growth into the future.
CEO Gerry Spindler
Downloads
Bringing a Mine to Life
Strong Metallurgical Coal Demand Through 2050
Growth for seaborne Met coal is underpinned by Indian demand and blast furnace production
Notes: Data sourced from Wood Mackenzie December 2021 Metallurgical Trade Outlook to 2050
Global seaborne metallurgical coal demand is forecast to grow from 301 million tonnes in 2021 to 403 million tonnes by 2050, an increase of 34%, led primarily by blast furnace steel production in India. India seaborne metallurgical coal demand is forecast to grow 146% to 172 million tonnes by 2050.
Global seaborne metallurgical coal supply is forecast to match demand with Australia expected to continue to be the dominant seaborne producer. Australian supply is forecast to increase from 170 million tonnes in 2021 to 258 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 global steel demand expectations, including renewable energy infrastructure.
India steel growth is projected to increase by 229% from 115 million tonnes in 2021 to 380 million tonnes by 2050. Coronado is well positioned to support Indian demand as the country remains Coronado’s #1 export market. In 2021, Coronado sold ~26% of its seaborne metallurgical coal to India.
Board of Directors
FY21 Highlights
26.4Mt
ROM Production
17.4Mt
Saleable Production
17.8Mt
Sales Volume
$2148.5M
Revenue
$486.1M
Adjusted EBITDA
$189.4M
Reported Net Income after Tax
US$65.7
Mining Costs Per Tonne Sold
Group Realised Metallurgical Coal Price
Net Cash
About Coronado
Coronado Global Resources Inc. is a leading international producer of high-quality Met coal, an essential element in steel production. Our coals, transformed in the steelmaking process, support the manufacture of everyday steel-based products that enrich lives around the world - including steel needed for the manufacture of renewable energy infrastructure.
We employ approximately 1,600 people directly and over 1,800 contractors globally with our principal executive office located in Brisbane, Australia. Coronado is one of the largest Met coal producers globally, supplying customers on five continents with a range of high quality coals.
FY21 Full Year Results

Coronado finished the year in a very strong financial position. We delivered substantial increases in Revenue, EBITDA and Net Profit and returned the balance sheet to a Net Cash position. These positive results have benefited from the recent high price environment, but also from the hard decisions taken in mid-2021 to restructure our debt arrangements as we completed a comprehensive $550 million refinancing package, which enhanced liquidity and provided a more flexible capital structure moving forward.
Care Values


About Coronado
About Coronado
Coronado Global Resources Inc. is a leading international producer of high-quality Met coal, an essential element in steel production. Our coals, transformed in the steelmaking process, support the manufacture of everyday steel-based products that enrich lives around the world - including steel needed for the manufacture of renewable energy infrastructure.
We employ approximately 1,600 people directly and over 1,800 contractors globally with our principal executive office located in Brisbane, Australia. Coronado is one of the largest Met coal producers globally, supplying customers on five continents with a range of high quality coals.
FY21 Full Year Results
Coronado finished the year in a very strong financial position. We delivered substantial increases in Revenue, EBITDA and Net Profit and returned the balance sheet to a Net Cash position. These positive results have benefited from the recent high price environment, but also from the hard decisions taken in mid-2021 to restructure our debt arrangements as we completed a comprehensive $550 million refinancing package, which enhanced liquidity and provided a more flexible capital structure moving forward.
CARE Values
Operational Overview

Curragh
Location
Bowen Basin in Central Queensland
Year Opened
1983
Year acquired
2018
Reserves
266 Mt
Resources
937 Mt
2021 saleable production
11.1 Mt
Number of active mines1
Two opencut mines, Curragh East and Curragh North, utilising draglines, a rope shovel and hydraulic excavators
Types of coal products
High-quality low-vol HCC, SCC, PCI and thermal coal
Key customers/markets
Met coal exported to international steel mills throughout Asia, Europe and South America. Thermal coal primarily for use by Australian domestic power station (Stanwell)
Expansion projects
Stanwell Reserve Area, MDL 162
1 Active mines at April 2022
Buchanan
Location
Near town of Oakwood in Buchanan County, Virginia within the CAPP geological province. Covers approximately 357 km2
Year Opened
1983
Year acquired
2016
Reserves
160 Mt
Resources
190 Mt
2020 saleable production
4.4 Mt
Number of active mines1
One underground mine with longwall mining system
Types of coal products
Low-vol HCC and premium low-vol PCI coal
Key customers/markets
North America customers and export destinations, including China, India, Europe and South Americaa
1 Active mines at April 2022
Logan
Location
Boone, Logan and Wyoming Counties in southern West Virginia, within the CAPP geological province. Covers a 104 km2 area
Year Opened
2005
Year acquired
2014
Reserves
137 Mt
Resources
264 Mt
2021 saleable production
1.9 Mt
Number of active mines1
Four underground mines (Lower War Eagle, Powellton, Eagle 1, Muddy Bridge) and one surface mine (Toney Fork)
Types of coal products
High quality high-vol HCC and SCC met coals, PCI coal and thermal coal
Key customers/markets
North America steel makers and export destinations, including Europe, South America and Asia
1 Active mines at April 2022
Greenbrier
Location
Greenbrier and Nicholas Counties of West Virginia, within the CAPP geological province, Covers approximately 176 km2
Year Opened
2008
Year acquired
2013
Reserves
12 Mt
Resources
55 Mt
Number of active mines
One underground mine (Mountaineer 1 – idle from April 2020) and one surface mine (Midland Surface – idle from April 2020)
Types of coal products
Premium quality mid-vol met coal, PCI and thermal coal (including activated carbon specialty markets)
Key customers/markets
North America steel makers and export destinations, including Europe, Asia and South America
The Greenbrier mine remains idle and held for sale. The Company completed 110 acres of rehabilitation works at Greenbrier in FY21. The potential divestment of this non-core asset will be advanced in FY22.
FY21 Performance Summary
For the Year Ended 31 December 2021
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
Coronado is a leading metallurgical coal producer and trusted supplier to the global steel industry.
Metallurgical coal (Met coal) is an essential ingredient in the production of steel, which is the most utilised metal in the world and an essential material underpinning social and economic growth. Steel’s strength and durability make it critical in the construction of major infrastructure projects (including renewable energy infrastructure), transportation technology, electrical equipment, and everyday household goods such as appliances.
As the world’s population continues to grow and urbanise, steelmakers and their suppliers will play a vital role in providing quality products that support a wide variety of uses well into the future.
Wide use of Steel
Steel is essential to modern society. Steel protects and provides strong frameworks for our buildings and infrastructure, including renewable energy infrastructure. It can be found in rails, roads, vehicles and domestic appliances. Steel delivers our food and water and enables energy generation and transmission.
Met 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.
Total global crude steel production reached 1.9 billion tonnes in 2021. Steel production is broadly used as follows:
Sustainability of Steel
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.
The strength and durability of steel has made it the most important material in our everyday lives.
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.
Energy consumption per tonne of steel
reduced by 60%
since the 1960s, which has contributed to a significant decrease in CO2 intensity
New lightweight high-strength steels make applications
25 - 40% lighter & stronger.
These new steels help other industries reduce their environmental footprint
Sustainability
Coronado has set a target to reduce Scope 1 and 2 emissions by 30% by 2030. Â
1Fugitive 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. The baseline takes 2019 data and is 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 will be purchased in 2022.
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 National Carbon Offset Standard.
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 social and economic relevance of what they do.

Operate fairly and equitably with suppliers and customers and generate superior and sustainable returns for security holders.
Coronado’s Total Economic Contribution1
2 Total Revenue includes tax refunds.

Sustainability Report
Coronado remains focused on the safety and wellbeing of its people, local communities and environment by setting meaningful targets across our material areas of impact. We continue to work in partnership with our customers and broader stakeholders for sustainable growth into the future.
CEO Gerry Spindler
Downloads
Bringing a Mine to Life
Strong Metallurgical Coal Demand Through 2050
Growth for seaborne Met coal is underpinned by Indian demand and blast furnace production
Notes: Data sourced from Wood Mackenzie December 2021 Metallurgical Trade Outlook to 2050
Global seaborne metallurgical coal demand is forecast to grow from 301 million tonnes in 2021 to 403 million tonnes by 2050, an increase of 34%, led primarily by blast furnace steel production in India. India seaborne metallurgical coal demand is forecast to grow 146% to 172 million tonnes by 2050.
Global seaborne metallurgical coal supply is forecast to match demand with Australia expected to continue to be the dominant seaborne producer. Australian supply is forecast to increase from 170 million tonnes in 2021 to 258 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 global steel demand expectations, including renewable energy infrastructure.
India steel growth is projected to increase by 229% from 115 million tonnes in 2021 to 380 million tonnes by 2050. Coronado is well positioned to support Indian demand as the country remains Coronado’s #1 export market. In 2021, Coronado sold ~26% of its seaborne metallurgical coal to India.