Coronado (CODQL) restarts Mammoth mine, warns of Logan losses and coal uplift
Rhea-AI Filing Summary
Coronado Global Resources Inc. provides a 2026 business update and FY 2025 results call details. Operations at the Mammoth Underground Mine, suspended after a fatal accident on 2 January 2026, were allowed to restart from 11 February 2026 under new safety measures, with full production expected within weeks. Australian open-cut sites have stabilised after Tropical Cyclone Koji, and planned shutdowns at the Curragh Complex coal processing plants are complete and expected to improve throughput and product mix.
The Queensland Financial Provisioning Scheme decision confirms no surety is required for Curragh’s Estimated Rehabilitation Cost, only a 6.5% pool contribution of about US$15 million due by the end of the March quarter. In the U.S., weak High-Vol markets mean realised pricing at the Logan Complex is below cash operating cost and the mine is operating at a loss. Production is being curtailed to meet contracts through March 2026, and the complex may be temporarily idled if further profitable offtake is not secured. Coronado expects cash flow support from higher Premium Low Volatile coal prices, with December 2025 quarter prices averaging $200/t versus $185/t for the nine months ended 30 September 2025, and current PLV prices around $250/t. The company will host a Full Year 2025 results webcast on 24 February 2026 (AEST).
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Insights
Coronado balances safety restart and Australian strength against U.S. Logan losses and possible idling.
Coronado Global Resources Inc. outlines a mixed operating picture. In Australia, the Mammoth Underground Mine has restarted after a fatal accident, subject to Resources Safety and Health Queensland safety measures, with full production expected within weeks. Open-cut operations have stabilised after Tropical Cyclone Koji, and completed shutdowns at the Curragh coal processing plants are expected to improve throughput and product mix.
Regulatory funding requirements for rehabilitation are lighter than some investors might fear: the Queensland Financial Provisioning Scheme decision requires only a
In the U.S., however, the Logan Complex is a clear weak spot. Sustained low U.S. High-Vol prices have pushed realised pricing below cash operating costs, and the complex is now operating at a loss. Management is immediately curtailing production to honor contracts through
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UNITED STATES Washington, D.C. 20549 | ||
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| Item 7.01. | Regulation FD Disclosure. |
2026 Business Update
On February 15, 2026 (February 16, 2026 in Australia), Coronado Global Resources Inc. (the “Company”) lodged an announcement with the Australian Securities Exchange (“ASX”) providing an update on the Company’s business. A copy of the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Fiscal Year 2025 Investor Call
On February 16, 2026 (February 17, 2026 in Australia), the Company lodged an announcement with the ASX announcing that it intends to host a conference call for its investors on February 23, 2026 (February 24, 2026 in Australia). Details for a direct link to the call are accessible in the ASX announcement, with the URL details being https://s1.c-conf.com/diamondpass/10053030-fhwiad.html. A copy of the announcement is attached as Exhibit 99.2 to this Current Report on Form 8-K.
The information contained in this Current Report on Form 8-K, including the exhibits attached hereto, are being furnished and shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, unless such subsequent filing specifically references this Current Report on Form 8-K.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
The following exhibits are filed with this Current Report on Form 8-K:
| Exhibit No. |
Description | |
| 99.1 | Announcement Regarding Business Update. | |
| 99.2 | Announcement Regarding Investor Call. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Coronado Global Resources Inc. | ||
| By: | /s/ Barend J. van der Merwe | |
| Name: | Barend J. van der Merwe | |
| Title: | Chief Financial Officer | |
| Date: | February 17, 2026 | |
Exhibit 99.1
ASX Announcement
16 February 2026
Business update
Coronado Global Resources Inc. (ASX: CRN) (“Coronado” or the “Company”) wishes to provide an update on certain matters referred to in its Quarterly Activities Report for Q4 2025 and other recent announcements.
As previously advised, operations at the Mammoth Underground Mine were suspended following a fatal accident at the mine on 2 January 2026. While the contracted operator of the mine, Mammoth Underground Mine Management Pty Ltd, is continuing to work with Resources Safety and Health Queensland (RSHQ) on its investigation into the incident, operations were permitted to recommence from 11 February 2026, subject to complying with safety measures prescribed by RSHQ. Full production from the mine is expected to be safely restored within the coming weeks in accordance with all requirements of RSHQ.
Australian open-cut operations have stabilised following Tropical Cyclone Koji, with no resulting material impact to production expected, beyond typical seasonal disruptions and the planned two-week shutdown on the Curragh Complex’s coal processing plants have been successfully completed and are expected to unlock improved throughput and product mix from the Curragh Complex mines.
The manager of the Queensland Financial Provisioning Scheme has now finalised his annual review allocation decision in respect of Curragh Complex’s Environmental Authority. The decision confirms that no surety is required to be provided for the Estimated Rehabilitation Cost (ERC), but instead, only a pool contribution of 6.5% of the ERC (~US$15 million), as originally planned, is required to be paid into the scheme by the end of the March quarter.
With respect to Coronado’s U.S. operations, sustained weakness in the U.S. High-Vol markets has caused realised pricing at Logan to remain below cash operating cost and the complex is now operating at a loss. Therefore, the Company is taking steps to preserve liquidity and protect shareholder value. Production is being immediately curtailed to cover contractual commitments carried over from 2025, which are expected to be fulfilled by March 2026. If further profitable offtake cannot be secured by that time, the Logan Complex will be temporarily idled to minimise cash consumption while maintaining optionality should market conditions improve.
At the Buchanan Complex, one of two planned longwall moves for FY26 was completed successfully, with the other scheduled in March.
In the March 2026 quarter, Coronado’s cash flow is expected to benefit from the US$15/t uplift in Premium Low Volatile (PLV) coal pricing that occurred during the December 2025 quarter, with prices averaging $200/t, as compared to $185/t for the nine months ended 30 September 2025. The June 2026 quarter is expected to benefit from the current US$250/t PLV price, representing a further $50/t uplift, and stronger production output.
| Coronado Global Resources Inc. | Level 33, Central Plaza One, 345 Queen Street |
| ARBN: 628 199 468 | Brisbane QLD 4000 |
| T: +61 7 3031 7777 | F: +61 7 3229 7402 | |
| www.coronadoglobal.com |
Market fundamentals for high-quality metallurgical coal remain supportive, underpinned by stable steel production in key regions and supply-side constraints. Coronado believes it is well positioned to benefit from recent pricing strength and the designation of metallurgical coal as a strategic or critical mineral in both India and the United States.
This announcement was authorised for release in accordance with the Disclosure Policy of Coronado Global Resources Inc.
For further information please contact:
| Investors | Media |
| Chantelle Essa | Helen McCombie |
| Vice President Investor Relations | Sodali &Co |
| P: +61 477 949 261 | P: +61 411 756 248 |
| E: cessa@coronadoglobal.com | E: helen.mccombie@sodali.com |
CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements concerning our business, operations, financial performance and condition, the coal, steel and other industries, and our plans, objectives and expectations for our business, operations, financial performance and condition. Forward-looking statements may be identified by words such as "may", "could", "believes", "estimates", "expects", "intends", “plans”, "considers", “forecasts”, “anticipates”, “targets” and other similar words that involve risk and uncertainties. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues, income, earnings per share, cost savings, capital expenditures, dividend payments, share repurchases, liquidity, capital structure, market share, industry volume, or other financial items, descriptions of management’s plans or objectives for future operations, risk inherent to mining operations, such as adverse weather conditions, or descriptions or assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect the Company's good faith beliefs, assumptions and expectations, but they are not a guarantee of future performance or events. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond the Company's control, that are described in our Annual Report on Form 10-K for the fiscal year ended 31 December 2024 filed with the ASX and SEC on 19 February 2025, as well as additional factors we may describe from time to time in other filings with the ASX and SEC. You may get such filings for free at our website at www.coronadoglobal.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
Exhibit 99.2
ASX Announcement
17 February 2026
Full Year 2025 Results webcast details
Coronado Global Resources Inc. (ASX: CRN) will report its Full Year 2025 Results on Tuesday 24 February 2026, commencing at 9.00am (AEST) / 10.00am (AEDT) | Monday 23 February at 6pm (EST). The presentation will be hosted by Mr. Douglas Thompson, Managing Director and Chief Executive Officer and Mr. Barrie van der Merwe, Group Chief Financial Officer.
WEBCAST DETAILS
Investors will be able to access the webcast via the following link: CRN Full Year 2025 Results Webcast
CONFERENCE CALL DETAILS
Alternatively, if you would like to join by telephone, please click on the link below to pre-register. CRN Full Year 2025 Teleconference
The webcast and presentation will be recorded and made available on Coronado Global Resources Inc. website shortly after the meeting.
This announcement was authorised for release in accordance with the Disclosure Policy of Coronado Global Resources Inc.
For further information please contact:
| Investors | Media |
| Chantelle Essa | Helen McCombie |
| Vice President Investor Relations | Sodali &Co |
| P: +61 477 949 261 | P: +61 411 756 248 |
| E: cessa@coronadoglobal.com | E: helen.mccombie@sodali.com |
| Coronado Global Resources Inc. | Level 33, Central Plaza One, 345 Queen Street |
| ARBN: 628 199 468 | Brisbane QLD 4000 |
| T: +61 7 3031 7777 | F: +61 7 3229 7402 | |
| www.coronadoglobal.com |
FAQ
What operational update did Coronado Global Resources (CODQL) provide on the Mammoth Underground Mine?
How does the Queensland Financial Provisioning Scheme decision affect Coronado Global Resources (CODQL)?
What challenges is Coronado Global Resources (CODQL) facing at the Logan Complex in the U.S.?
How are coal prices expected to impact Coronado Global Resources (CODQL) cash flow in 2026?
What production and maintenance developments occurred at Coronado Global Resources (CODQL) Australian operations?
When will Coronado Global Resources (CODQL) present its Full Year 2025 financial results?
Filing Exhibits & Attachments
5 documents