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Coronado Global Resources Inc. (ASX: $CRN) highlights higher waste and ROM coal production rates in FY23 results

Coronado Global Resources Inc. (ASX: $CRN) FY23 Full Year Results Overview


Coronado Global Resources Inc. (ASX: $CRN) has released its Investor Presentation for the 2023 Full Year Results, showcasing higher waste and ROM coal production rates, improved safety performance, and progress in its Met Coal Organic Growth plans. The company reported a 45% year-on-year improvement in Group Safety Total Recordable Incident Rate, with a solid operational performance delivering record waste movement and higher ROM coal production of 25.4 Mt. With a group revenue of $2.9 billion and available liquidity of $489 million, Coronado demonstrated prudent capital management focused on investment, maintaining a strong balance sheet.

Executive Commentary on FY23 Results


The 2023 Full Year Results reflect our commitment to operational excellence and strategic growth. We are pleased with the progress made in our organic growth plans, particularly at the Curragh North UG and Buchanan expansion works. The safety of our people remains our highest priority, and we are dedicated to asset optimization, capital management, and delivering shareholder value. Our unique diversification advantage and the strong demand outlook for Met Coal position us well for the future. We are focused on maintaining a responsible capital management strategy and strong balance sheet to enable the delivery of our growth plans and shareholder distributions, while ensuring financial sustainability and value creation.

Summary of FY23 Results and Outlook


Coronado Global Resources Inc. (ASX: $CRN) reported a successful year in 2023, marked by higher waste and ROM coal production rates, improved safety performance, and progress in its Met Coal Organic Growth plans. The company's strong balance sheet and prudent capital management have positioned it to pursue growth opportunities and enhance shareholder value. With a focus on operational excellence and strategic growth, Coronado aims to optimize its existing assets and continue investing in highly accretive organic growth projects. The outlook remains positive, with the company's long-term Met Coal assets and the forecasted global steel demand supporting its ambitions for the future.

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