Coronado remains focused on the safety and wellbeing of our 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.
25.2 Mt
ROM production
17.0 Mt
Saleable production
18.2 Mt
Sales volume
$1,462.3 M
Revenue
$53.8 M
Adjusted EBITDA
($226.5) M
Reported net (loss) income after tax
US $76.5
Operating costs per tonne sold
US $90.5
Group realised metallurgical coal price
5.0 %
Net debt decrease
Group sales mix (revenue)
Group export ratio (sales volume)
Metallurgical coal realised price (US$/t)
Mining cost per tonne sold ($/t)
For the year ended 31 December 2021
| Item | Unit | 2022 | 2021 | %Change |
|---|---|---|---|---|
| ROM production | Mt | 26.4 | 25.2 | 4.7% |
| Saleable production | Mt | 17.4 | 17.0 | 1.9% |
| Sales volume | Mt | 17.8 | 18.2 | -2.2% |
| Metallurgical coal sales | % | 81.4 | 79.9 | 1.5% |
| Group realised metallurgical coal price | US$ | 138.0 | 90.5 | 52.5% |
| Operating costs per tonne sold | US$ | 92.1 | 76.5 | 20.4% |
| Mining costs per tonne sold | US$ | 65.7 | 55.6 | 18.2% |
| Revenue | US$ | 2,148.5 | 1,462.3 | 46.9% |
| Total costs and expenses | US$ | 1,846.1 | 1,610.2 | 14.6% |
| Reported net (loss) income after tax | US$ | 189.4 | -226.5 | 183.6% |
| Depreciation and amortisation | US$ | 177.9 | 191.2 | -7.0% |
| Interest expense (net of income) | US$ | 68.1 | 50.6 | 34.5% |
| Other foreign exchange losses (gain) | US$ | 7.0 | 1.1 | 499.9% |
| Income tax (benefit) expense | US$ | 53.1 | -60.0 | 188.5% |
| Impairment of assets | US$ | – | 78.1 | -100.0% |
| Losses on debt extinguishment | US$ | 8.5 | – | 100.0% |
| Restructuring costs | US$ | 2.3 | – | 100.0% |
| Losses on idled assets held for sale | US$ | 2.7 | 10.0 | -72.7% |
| Gain on disposal of assets held for sale | US$ | -14.8 | – | -100.0% |
| (Decrease)/increase in provision for discounting and credit losses | US$ | -8.0 | 9.3 | -186.5% |
| Adjusted EBITDA | US$ | 486.1 | 53.8 | 803.6% |
| Net cash from operating activites | US$ | 442.0 | -3.0 | 14833.8 |
| Net cash/(debt) | US$ | 122.9 | -281.9 | 143.6 |
| Effective tax rate | % | 21.9 | 20.9 | 1.0% |
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1 All volumes are quoted in metric tonnes
Seaborne met coal demand (Mmt)
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.
Seaborne met coal supply (Mmt)
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 total crude steel production (Mmt)
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 number one export market. In 2021, Coronado sold ~26% of its seaborne metallurgical coal to India.
Notes: Data sourced from Wood Mackenzie December 2021 Metallurgical Trade Outlook to 2050
About Coronado
Coronado Global Resources Inc. (ASX:CRN) is a leading international producer of high-quality metallurgical coal (met coal), which is an essential element in the production of steel.
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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.
ASX announcements
CARE values
At Coronado, we care for ourselves, our co-workers and our company and that means we always work safely. The safety of people in our work locations will always come first.
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Operational overview
Our operations lie in two of the largest and most productive metallurgical coal basins in the world: (1) the Bowen Basin in Queensland, Australia, and (2) the Central Appalachian region in the United States.
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Steel starts here
Our motto represents the fact that the met coal we deliver to our customers is an essential element in the production of steel.
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Sustainability
At Coronado, we are committed to creating a sustainable future by (1) operating safely and supporting the health and wellbeing of our people, (2) respecting and protecting the environment...
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Total economic contribution
We work closely with local community organisations. We reach out to local councils, schools and colleges, sporting clubs and youth associations...
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Board of directors
Coronado’s management team has over 100 years of combined experience in all aspects of the coal value chain, from the discovery of resources, through to development, production, and marketing.
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Read our 2021 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...
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