...August 4, 2024 What's new : Coronado's second-quarter operational update for fiscal 2024 showed material progress in reducing mining costs. Having increased quarterly salable production to 4.1 million metric tons (Mt), Coronado is on course to meet its guidance of 16.4 Mt-17.2 Mt for 2024. Why it matters: Coronado's costs escalated in the last three years. The drop this quarter points to the success of the company's productivity improvement strategies. Costs at its Curragh mine decreased to US$91.1 per Mt from US$126. Curragh is significant to Coronado's results as it accounts for 65% of salable production. Coronado's mining cost trend contrasts with that of other Bowen Basin operators. These continue to guide for costs above US$100 per Mt. Coronado is reaping the benefits of investing to rectify its historical pre-strip deficit at its Curragh mine in Queensland's Bowen Basin. The company now has better access to the coal seam, thereby facilitating improved unit costs through the removal...
