Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Share Name	Share Symbol	Market	Type
Coronado Global Resources Inc (PK)	USOTC:CODQL	OTCMarkets	Common Stock

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.005	2.86%	0.18	0.0562	0.4935	0.18	0.18	0.18	100,001	22:00:00

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________________________

FORM

10-Q

___________________________________________________

(Mark One)

☒

QUARTERLY

REPORT PURSUANT TO SECTION 13

OR 15(d) OF THE SECURITIES EXCHANGE

ACT OF 1934

For the quarterly period ended

March 31, 2024

☐

TRANSITION REPORT PURSUANT TO

SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE

ACT OF 1934

For the transition period from

Commission File Number:

1-16247

___________________________________________________

Coronado Global Resources Inc.

(Exact name of registrant as specified in its charter)

___________________________________________________

Delaware

83-1780608

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

Level 33, Central Plaza One

345 Queen Street

Brisbane, Queensland

Australia

4000

(Address of principal executive offices)

(Zip Code)

(

)

3031 7777

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

___________________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

None

Indicate by check

mark whether the

registrant (1) has filed

all reports required

to be filed

by Section 13 or

15(d) of the

Securities Exchange

Act of 1934 during

the preceding 12 months

(or for such shorter

period that the registrant

was required to file

such reports), and (2) has

been subject to such filing requirements for the past 90 days.

Yes

☒

☐

Indicate by check mark whether

the registrant has submitted electronically

every Interactive Data File required to

be submitted pursuant

to Rule 405

of Regulation S-T

(§232.405 of this

chapter) during the

preceding 12 months

(or for such

shorter period that

the registrant

was required to submit such files).

Yes

☒

☐

Indicate by check mark whether the registrant

is a large accelerated filer,

an accelerated filer, a non-accelerated

filer, a smaller reporting

company,

emerging

growth

company.

See

the

definitions

“large

accelerated

filer,”

“accelerated

filer,”

“smaller

reporting

company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging

growth company, indicate by

check mark if

the registrant has

elected not to

use the extended

transition period for

complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes

☐

☒

The registrant’s

common stock is

publicly traded on

the Australian Securities

Exchange in the

form of CHESS

Depositary Interests, or

CDIs, convertible at the option of

the holders into shares of the

registrant’s common stock on a 10-for-1 basis.

The total number of shares

of the registrant's common stock, par value $0.01 per share, outstanding on April 30, 2024, including

shares of common stock underlying

CDIs, was

167,645,373

Steel starts

here.

Quarterly Report on Form 10-Q for the quarterly period

ended March 31, 2024.

TABLE OF CONTENTS

Page

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31,

2023

Unaudited Condensed Consolidated Statements of Operations and Comprehensive

Income for the three months ended March 31, 2024 and 2023

Unaudited Condensed Consolidated Statements of Stockholders’ Equity for the three

months ended March 31, 2024 and 2023

Unaudited Condensed Consolidated Statements of Cash Flows for the three months

ended March 31, 2024 and 2023

Notes to Unaudited Condensed Consolidated Financial Statements

Report of Independent Registered Public Accounting Firm

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of

Operations

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Item 4. Controls and Procedures

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

Item 1A. Risk Factors

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Item 3. Defaults Upon Senior Securities

Item 4. Mine Safety Disclosures

Item 5. Other Information

Item 6. Exhibits

SIGNATURES

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

PART I – FINANCIAL INFORMATION

ITEM 1.

FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheets

(In US$ thousands, except share data)

Assets

Note

(Unaudited)

March 31, 2024

December 31,

2023

Current assets:

Cash and cash equivalents

224,944

339,295

Trade receivables, net

301,475

263,951

Income tax receivable

35,947

44,906

Inventories

149,836

192,279

Other current assets

89,821

103,609

Total

current assets

802,023

944,040

Non-current assets:

Property, plant and equipment,

net

1,502,439

1,506,437

Right of use asset – operating leases, net

85,333

80,899

Goodwill

28,008

Intangible assets, net

3,058

3,108

Restricted deposits

68,884

68,660

Deferred income tax assets

40,637

27,230

Other non-current assets

21,439

19,656

Total

assets

2,551,821

2,678,038

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

86,737

113,273

Accrued expenses and other current liabilities

267,826

312,705

Dividends payable

8,334

—

Asset retirement obligations

14,897

15,321

Contract obligations

38,926

40,722

Lease liabilities

23,783

22,879

Other current financial liabilities

2,751

2,825

Total

current liabilities

443,254

507,725

Non-current liabilities:

Asset retirement obligations

147,374

148,608

Contract obligations

51,780

61,192

Deferred consideration liability

273,146

277,442

Interest bearing liabilities

235,987

235,343

Other financial liabilities

4,354

5,307

Lease liabilities

64,143

61,692

Deferred income tax liabilities

110,640

100,145

Other non-current liabilities

36,938

34,549

Total

liabilities

1,367,616

1,432,003

Common stock $

0.01

par value;

1,000,000,000

authorized,

167,645,373

shares issued and outstanding as of March 31,

2024 and December 31, 2023

1,677

Series A Preferred stock $

0.01

par value;

100,000,000

authorized,

Share issued and outstanding as of March 31, 2024 and

December 31, 2023

—

Additional paid-in capital

1,093,272

1,094,431

Accumulated other comprehensive losses

(113,215)

(89,927)

Retained earnings

202,471

239,854

Total

stockholders’ equity

1,184,205

1,246,035

Total

liabilities and stockholders’ equity

2,551,821

2,678,038

See accompanying notes to unaudited condensed

consolidated financial statements.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Unaudited Condensed Consolidated Statements of

Operations and Comprehensive Income

(In US$ thousands, except share data)

Three months ended

March 31,

Note

2024

2023

Revenues:

Coal revenues

632,993

738,345

Other revenues

35,156

27,369

Total

revenues

668,149

765,714

Costs and expenses:

Cost of coal revenues (exclusive of items shown separately

below)

472,521

380,474

Depreciation, depletion and amortization

45,349

39,423

Freight expenses

56,822

63,353

Stanwell rebate

31,451

39,208

Other royalties

85,160

85,957

Selling, general, and administrative expenses

8,815

7,774

Total

costs and expenses

700,118

616,189

Other (expense) income:

Interest expense, net

(13,329)

(14,665)

Decrease in provision for discounting and credit losses

173

3,988

Other, net

12,012

3,042

Total

other expense, net

(1,144)

(7,635)

(Loss) income before tax

(33,113)

141,890

Income tax benefit (expense)

4,112

(34,030)

Net (loss) income attributable to Coronado Global Resources

Inc.

(29,001)

107,860

Other comprehensive loss, net of income taxes:

Foreign currency translation adjustments

(23,288)

(4,503)

Total

other comprehensive loss

(23,288)

(4,503)

Total

comprehensive (loss) income attributable to Coronado Global

Resources Inc.

(52,289)

103,357

(Loss) earnings per share of common stock

Basic

(0.17)

0.64

Diluted

(0.17)

0.64

See accompanying notes to unaudited condensed

consolidated financial statements.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Unaudited Condensed Consolidated Statements of

Stockholders’ Equity

(In US$ thousands, except share data)

Common stock

Preferred stock

Additional

Accumulated other

Total

paid in

comprehensive

Retained

stockholders

Amount

Series A

Amount

capital

losses

earnings

equity

Balance December 31, 2023

167,645,373

1,677

—

1,094,431

(89,927)

239,854

1,246,035

Net loss

—

(29,001)

Other comprehensive loss

—

(23,288)

—

(23,288)

Total

comprehensive loss

—

(23,288)

(29,001)

(52,289)

Share-based compensation for equity

classified awards

—

(1,159)

—

(1,159)

Dividends

—

(8,382)

Balance March 31, 2024

167,645,373

1,677

—

1,093,272

(113,215)

202,471

1,184,205

Common stock

Preferred stock

Additional

Accumulated other

Total

paid in

comprehensive

Retained

stockholders

Amount

Series A

Amount

capital

losses

earnings

equity

Balance December 31, 2022

167,645,373

1,677

—

1,092,282

(91,423)

100,554

1,103,090

Net income

—

107,860

Other comprehensive loss

—

(4,503)

—

(4,503)

Total

comprehensive (loss) income

—

(4,503)

107,860

103,357

Share-based compensation for equity

classified awards

—

(308)

—

(308)

Dividends

—

(8,382)

Balance March 31, 2023

167,645,373

1,677

—

1,091,974

(95,926)

200,032

1,197,757

See accompanying notes to unaudited condensed

consolidated financial statements.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Unaudited Condensed Consolidated Statements of

Cash Flows

(In US$ thousands)

Three months ended

March 31,

2024

2023

Cash flows from operating activities:

Net (loss) income

(29,001)

107,860

Adjustments to reconcile net income to cash and restricted cash

provided by

operating activities:

Depreciation, depletion and amortization

45,349

39,423

Amortization of right of use asset - operating leases

5,988

1,083

Amortization of deferred financing costs

257

483

Non-cash interest expense

8,906

8,086

Amortization of contract obligations

(7,597)

(7,201)

Loss on disposal of property,

plant and equipment

130

121

Equity-based compensation expense

(1,159)

(308)

Deferred income taxes

(671)

8,141

Reclamation of asset retirement obligations

(992)

(737)

Decrease in provision for discounting and credit losses

(173)

(3,988)

Other non-cash adjustments

(10,064)

—

Changes in operating assets and liabilities:

Accounts receivable

(46,184)

105,270

Inventories

36,517

(28,039)

Other assets

6,670

5,362

Accounts payable

(23,969)

7,601

Accrued expenses and other current liabilities

(44,686)

(11,883)

Operating lease liabilities

(6,108)

(2,080)

Income tax payable

10,524

(8,510)

Change in other liabilities

2,487

2,942

Net cash (used in) provided by operating activities

(53,776)

223,626

Cash flows from investing activities:

Capital expenditures

(54,931)

(54,839)

Purchase of restricted and other deposits

(381)

(2,403)

Redemption of restricted and other deposits

—

3,095

Net cash used in investing activities

(55,312)

(54,147)

Cash flows from financing activities:

Principal payments on interest bearing liabilities and other financial

liabilities

(822)

(920)

Principal payments on finance lease obligations

(35)

(31)

Net cash used in financing activities

(857)

(951)

Net (decrease) increase in cash and cash equivalents

(109,945)

168,528

Effect of exchange rate changes on cash and cash

equivalents

(4,406)

(4,857)

Cash and cash equivalents at beginning of period

339,295

334,629

Cash and cash equivalents at end of period

224,944

498,300

Supplemental disclosure of cash flow information:

Cash payments for interest

722

575

Cash (refund) paid for taxes

(12,407)

34,000

Restricted cash

251

See accompanying notes to unaudited condensed

consolidated financial statements.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

Description of Business, Basis of Presentation

(a)

Description of the Business

Coronado

Global

Resources

Inc.

global

producer,

marketer,

and

exporter

full

range

metallurgical

coals,

essential

element

the

production

steel.

The

Company

has

portfolio

operating

mines

and

development projects in

Queensland, Australia, and

in the states of

Pennsylvania, Virginia and

West Virginia

the United States, or U.S.

(b)

Basis of Presentation

The interim unaudited condensed consolidated financial statements

have been prepared in accordance with the

requirements of U.S. generally accepted

accounting principles, or U.S. GAAP,

and with the instructions to Form

10-Q and Article

10 of Regulation

S-X related to

interim financial reporting

issued by the

Securities and Exchange

Commission, or the

SEC. Accordingly,

they do not

include all of

the information

and footnotes required

by U.S.

GAAP for complete

financial statements and should

be read in

conjunction with the audited

consolidated financial

statements and notes thereto included in the

Company’s Annual Report on Form 10-K filed with the

SEC and the

Australian Securities Exchange, or the ASX, on February

20, 2024.

The

interim

unaudited

condensed

consolidated

financial

statements

are

presented

U.S.

dollars,

unless

otherwise

stated.

They

include

the

accounts

Coronado

Global

Resources

Inc.

and

its

wholly-owned

subsidiaries.

References

“US$”

“USD”

are

references

U.S.

dollars.

References

“A$”

“AUD”

are

references

Australian

dollars,

the

lawful

currency

the

Commonwealth

Australia.

The

“Company”

and

“Coronado”

are

used

interchangeably

refer

Coronado

Global

Resources

Inc.

and

its

subsidiaries,

collectively, or to Coronado Global Resources Inc., as

appropriate to the context.

All intercompany balances and

transactions have been eliminated upon consolidation.

the

opinion

management,

these

interim

financial

statements

reflect

all

normal,

recurring

adjustments

necessary

for

the

fair

presentation

the

Company’s

financial

position,

results

operations,

comprehensive

income, cash flows and changes in

equity

for the periods presented. Balance sheet information

presented herein

as of December 31,

2023 has been derived from

the Company’s audited consolidated balance sheet at

that date.

The Company’s results

of operations for

the three months

ended March 31,

2024 are not

necessarily indicative

of the results that may be expected for the year ending

December 31, 2024.

Summary of Significant Accounting Policies

Please see Note 2 “Summary

of Significant Accounting Policies”

contained in the audited

consolidated financial

statements for the year ended December 31, 2023 included in Coronado Global Resources Inc.’s Annual Report

on Form 10-K filed with the SEC and ASX on February

20, 2024.

(a) Newly Adopted Accounting Standards

During

the

period,

there

has

been

new

Accounting

Standards

Update

issued

the

Financial

Accounting

Standards Board that had a material impact on the Company’s

consolidated financial statements.

Segment Information

The Company has a portfolio of operating

mines and development projects in

Queensland, Australia, and in the

states

Pennsylvania,

Virginia

and

West

Virginia

the

U.S.

The

operations

Australia,

Australian

Operations, comprise

the 100%-owned

Curragh producing

mine complex. The

operations in the

United States,

or U.S. Operations,

comprise

two

100%-owned producing

mine complexes (Buchanan

and Logan),

one

100%-

owned idled mine complex (Greenbrier) and

two

development properties (Mon Valley

and Russell County).

The

Company

operates

its

business

along

two

reportable

segments:

Australia

and

the

United

States.

The

organization

the

two

reportable

segments

reflects

how

the

Company’s

chief

operating

decision

maker,

CODM, manages and allocates resources to the various

components of the Company’s business.

The CODM

uses Adjusted

EBITDA as

the primary

metric to

measure each

segment’s

operating performance.

Adjusted EBITDA is not a measure of financial performance in accordance with U.S. GAAP.

Investors should be

aware that

the Company’s

presentation of

Adjusted EBITDA

may not

be comparable

to similarly

titled financial

measures used by other companies.

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Adjusted EBITDA is

defined as earnings

before interest, taxes,

depreciation, depletion and

amortization and other

foreign exchange losses. Adjusted EBITDA is

also adjusted for certain discrete items that

management exclude

in analyzing each

of the

Company’s segments’ operating performance.

“Other and corporate”

relates to additional

financial information for

the corporate function

such as accounting,

treasury, legal, human resources,

compliance,

and tax.

As such, the corporate function is not determined to be a

reportable segment but is discretely disclosed

for purposes of reconciliation to the Company’s

unaudited Condensed Consolidated Financial Statements.

Reportable segment results as

of and for

the three months ended

March 31, 2024

and 2023 are

presented below:

(in US$ thousands)

Australia

United

States

Other and

Corporate

Total

Three months ended March 31, 2024

Total

revenues

436,106

232,043

—

668,149

Adjusted EBITDA

(26,227)

49,228

(8,380)

14,621

Total

assets

1,220,053

1,027,228

304,540

2,551,821

Capital expenditures

19,501

52,792

72,298

Three months ended March 31, 2023

Total

revenues

398,661

367,053

—

765,714

Adjusted EBITDA

13,233

185,042

(7,526)

190,749

Total

assets

1,146,508

951,237

539,722

2,637,467

Capital expenditures

7,235

34,163

41,453

The reconciliations

of Adjusted

EBITDA to

net income

attributable to the

Company for

the three months

ended

March 31, 2024 and 2023 are as follows:

Three months ended

March 31,

(in US$ thousands)

2024

2023

Net (loss) income

(29,001)

107,860

Depreciation, depletion and amortization

45,349

39,423

Interest expense (net of interest income)

(1)

13,329

14,665

Income tax (benefit) expense

(4,112)

34,030

Other foreign exchange gains

(2)

(11,263)

(2,992)

Losses on idled assets

(3)

492

1,751

Decrease in provision for discounting and credit losses

(173)

(3,988)

Consolidated Adjusted EBITDA

14,621

190,749

(1)

Includes interest income of $

3.0

million, and $

1.0

million for the three months ended March 31,

2024 and 2023, respectively.

(2)

The balance

primarily relates

to foreign

exchange gains

and losses

recognized in

the translation

of short-term

inter-entity balances

certain entities within the group that

are denominated in currencies other than

their respective functional currencies. These gains

and losses

are included in “Other, net” on the unaudited Consolidated Statement

of Operations and Comprehensive Income.

(3)

These losses relate to idled non-core assets

that the Company has an active plan to sell.

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

The

reconciliations

capital

expenditures

per

the

Company’s

segment

information

capital

expenditures

disclosed

the

unaudited

Condensed

Consolidated

Statements

Cash

Flows

for

the

three

months

ended

March 31, 2024 and 2023 are as follows:

Three months ended March 31,

(in US$ thousands)

2024

2023

Capital expenditures per unaudited Condensed Consolidated

Statements of

Cash Flows

54,931

54,839

Accruals for capital expenditures

22,150

4,098

Payment for capital acquired in prior periods

(10,790)

(11,242)

Net movement in deposits to acquire long lead capital

6,007

(6,242)

Capital expenditures per segment detail

72,298

41,453

Disaggregation of Revenue

The Company disaggregates the revenue

from contracts with customers by

major product group for each of

the

Company’s

reportable

segments,

the

Company

believes

best

depicts

the

nature,

amount,

timing

and

uncertainty of revenues and cash flows.

All revenue is recognized at a point in time.

Three months ended March 31, 2024

(in US$ thousands)

Australia

United States

Total

Product Groups:

Metallurgical coal

408,303

193,531

601,834

Thermal coal

19,294

11,865

31,159

Total

coal revenue

427,597

205,396

632,993

Other

(1)(2)

8,509

26,647

35,156

Total

436,106

232,043

668,149

Three months ended March 31, 2023

(in US$ thousands)

Australia

United States

Total

Product Groups:

Metallurgical coal

372,519

283,023

655,542

Thermal coal

18,285

64,518

82,803

Total

coal revenue

390,804

347,541

738,345

Other

(1)(2)

7,857

19,512

27,369

Total

398,661

367,053

765,714

(1) Other revenue for the Australian segment includes

the amortization of the Stanwell non-market coal

supply contract obligation liability.

(2) Other revenue for the U.S. segment includes $

25.0

million and $

17.5

million for the three months ended March 31, 2024 and March 31,

2023, respectively, relating to termination fee revenue from a coal sales contracts

cancelled at our U.S. operations.

Inventories

(in US$ thousands)

March 31,

2024

December 31,

2023

Raw coal

45,899

55,998

Saleable coal

50,150

81,314

Total

coal inventories

96,049

137,312

Supplies and other inventory

53,787

54,967

Total

inventories

149,836

192,279

Coal inventories measured at its net

realizable value were $

3.1

million and $

2.4

million as at March 31, 2024

and

December 31, 2023, respectively,

and primarily relates to coal designated for deliveries under the Stanwell

non-

market coal supply agreement.

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Property, Plant and

Equipment

(in US$ thousands)

March 31,

2024

December 31,

2023

Land

28,471

28,282

Buildings and improvements

103,275

102,642

Plant, machinery, mining

equipment and transportation vehicles

1,199,513

1,189,088

Mineral rights and reserves

389,868

Office and computer equipment

10,156

9,771

Mine development

560,488

579,717

Asset retirement obligation asset

85,288

88,384

Construction in process

158,314

143,041

Total

cost of property,

plant and equipment

2,535,373

2,530,793

Less accumulated depreciation, depletion and amortization

1,032,934

1,024,356

Property, plant and

equipment, net

1,502,439

1,506,437

6. Other Assets

(in US$ thousands)

March 31,

2024

December 31,

2023

Other current assets

Prepayments

27,643

34,175

Long service leave receivable

7,889

8,438

Tax

credits receivable

3,265

Deposits to acquire capital items

10,841

18,935

Short term deposits

21,674

21,906

Other

18,509

16,890

Total

other current assets

89,821

103,609

The Company has

other current assets

which includes prepayments,

favorable mineral leases,

long service leave

receivable,

equipment

deposits,

short

term

deposits

and

coalfield

employment

enhancement

tax

credit

receivable.

Short term deposits

are term deposits

held with financial

institutions with

maturity greater

than ninety

days and

less than twelve months and do not meet the cash and

cash equivalents criteria.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the

following:

(in US$ thousands)

March 31,

2024

December 31,

2023

Wages and employee benefits

43,926

42,348

Taxes

other than income taxes

7,764

6,728

Accrued royalties

58,701

45,770

Accrued freight costs

35,875

47,549

Accrued mining fees

101,955

89,622

Acquisition related accruals

—

53,700

Other liabilities

19,605

26,988

Total

accrued expenses and other current liabilities

267,826

312,705

Acquisition related accruals

of $

53.7

million (A$

79.0

million) as at December

31, 2023, related to

the remaining

estimated stamp duty payable on the Curragh acquisition.

On March 6, 2024, the Company paid the outstanding

assessed

stamp

duty

and

tax

interest

the

Queensland

Revenue

Office,

QRO.

Refer

Note

“Contingencies” for further details.

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

8. Dividends payable

February

19,

2024,

the

Company’s

Board

Directors

declared

bi-annual

fully

franked

fixed

ordinary

dividend of $

8.4

million, or

0.5

cents per CDI. On April 4, 2024,

the Company paid $

8.3

million, net of $

0.1

million

foreign exchange

gain on

payment of

dividends to

certain CDI

holders who

elected to be

paid in

Australian dollars.

Leases

During the

three months

ended March

31, 2024,

the

Company entered

into a

number of

agreements to

lease

mining

equipment.

Based

the

Company’s

assessment

terms

within

these

agreements,

the

Company

classified these

leases as

operating leases.

On mobilization

of these

leased

mining

equipment,

the Company

recognized right-of-use assets and operating lease liabilities

of $

13.3

million.

Information related to the Company’s right-of-use

assets and related lease liabilities are as follows:

Three months ended

(in US$ thousands)

March 31, 2024

March 31, 2023

Operating lease costs

7,568

1,083

Cash paid for operating lease liabilities

6,108

2,080

Finance lease costs:

Amortization of right of use assets

Interest on lease liabilities

Total

finance lease costs

(in US$ thousands)

March 31,

2024

December 31,

2023

Operating leases:

Operating lease right-of-use assets

85,333

80,899

Finance leases:

Property and equipment

371

Accumulated depreciation

(342)

(309)

Property and equipment, net

Current operating lease obligations

23,750

22,811

Operating lease liabilities, less current portion

64,143

61,692

Total

operating lease liabilities

87,893

84,503

Current finance lease obligations

Finance lease liabilities, less current portion

—

Total

Finance lease liabilities

Current lease obligation

23,783

22,879

Non-current lease obligation

64,143

61,692

Total

Lease liability

87,926

84,571

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

March 31,

2024

December 31,

2023

Weighted Average Remaining

Lease Term (Years)

Weighted average remaining lease term – finance

leases

0.3

0.5

Weighted average remaining lease term – operating

leases

3.8

3.7

Weighted Average Discount

Rate

Weighted discount rate – finance lease

7.6%

Weighted discount rate – operating lease

8.8%

9.0%

The Company’s operating leases have remaining lease

terms of

year to

years, some of which include

options

to extend the terms

where the Company deems

it is reasonably certain

the options will be

exercised. Maturities

of lease liabilities as at March 31, 2024, are as follows:

(in US$ thousands)

Operating

Lease

Finance

Lease

Year ending

December 31,

2024

22,860

2025

30,505

—

2026

23,054

—

2027

14,852

—

2028

11,304

—

Thereafter

779

—

Total

lease payments

103,354

Less imputed interest

(15,461)

—

Total

lease liability

87,893

10.

Interest Bearing Liabilities

The following is a summary of interest-bearing liabilities

at March 31, 2024:

(in US$ thousands)

March 31, 2024

December 31, 2023

Weighted Average

Interest Rate at

March 31, 2024

Final

Maturity

10.75

% Senior Secured Notes

242,326

12.14

(2)

2026

ABL Facility

—

2026

Discount and debt issuance costs

(1)

(6,339)

(6,983)

Total

interest bearing liabilities

235,987

235,343

(1)

Debt issuance costs incurred on the establishment

of the ABL Facility has been included within

"Other non-current assets" in the

unaudited Condensed Consolidated Balance Sheet.

(2)

Represents the effective interest rate.

Senior Secured Notes

As of

March 31,

2024, the

Company’s

aggregate principal

amount of

the

10.750

% Senior

Secured Notes

due

2026, or the Notes, outstanding was $

242.3

million. The Notes mature on

May 15, 2026

and are senior secured

obligations of the Company.

The

terms

the

Notes

are

governed

indenture,

dated

May

12,

2021,

the

Indenture,

among

Coronado Finance

Pty Ltd,

an Australian

proprietary

company,

as issuer,

Coronado,

as parent

guarantor,

the

other guarantors

party thereto

and Wilmington

Trust,

National Association,

as trustee.

The Indenture

contains

customary

covenants

for

high

yield

bonds,

including,

but

not

limited

to,

limitations

investments,

liens,

indebtedness, asset

sales, transactions

with affiliates

and restricted

payments, including

payment of

dividends

on capital stock. As of March 31, 2024, the Company was in compliance

with all applicable covenants under the

Indenture.

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Under the terms of the

Indenture, upon the occurrence of a “Change

of Control” (as defined in the

Indenture), the

issuer

required

make

offer,

Change

Control

Offer,

repurchase

the

Notes

101

the

aggregate principal

amount thereof,

plus accrued

and unpaid

interest, if

any,

to, but

excluding, the

repurchase

date. Alternatively,

if the

issuer elects

to redeem

all of

the Notes,

during the

12-month period

commencing

May 15 of

the years set

forth below at

the redemption

prices (expressed

in percentages of

principal amount on

the redemption date) set forth below, plus accrued and unpaid interest to,

but not including, the redemption date,

the issuer is not required to make a Change of Control

Offer:

Period

Redemption price

2024

104.03%

2025 and thereafter

100.00%

Asset Based Revolving Credit Facility

On May 8, 2023, the Company entered into a senior secured asset-based revolving credit agreement in

an initial

aggregate amount of $

150.0

million, or the ABL Facility.

The ABL Facility matures in August 2026 and provides for up to $

150.0

million in borrowings, including a $

100.0

million

sublimit

for

the

issuance

letters

credit

and

70.0

million

sublimit

revolving

credit

facility.

Availability

under

the

ABL

Facility

limited

eligible

borrowing

base,

determined

applying

customary

advance rates to eligible accounts receivable and inventory.

Borrowings under

the ABL

Facility bear

interest at

a rate

per annum

equal to

an applicable

rate of

2.80

% plus

BBSY,

for loans denominated in A$, or SOFR, for loans

denominated in US$, at the Company’s

election.

As at

March 31, 2024,

the letter of

credit sublimit had

been partially used

to issue $

21.7

million of bank

guarantees

on behalf of the Company and

amounts were drawn under the revolving credit sublimit

of ABL Facility.

The

ABL

Facility

contains

customary

representations

and

warranties

and

affirmative

and

negative

covenants

including, among

others, a

covenant regarding

the maintenance

of leverage

ratio to

be less

than

3.00

times, a

covenant regarding maintenance of interest coverage ratio to be more than

3.00

times, covenants relating to the

payment of dividends, or purchase or redemption of, with respect to any Equity Interests of Holdings or

any of its

Subsidiaries,

covenants

relating

financial

reporting,

covenants

relating

the

incurrence

liens

encumbrances, covenants relating to the incurrence or prepayment of certain debt, compliance with laws, use of

proceeds, maintenance of properties, maintenance of insurance, payment obligations, financial accommodation,

mergers and

sales of all

or substantially all

of the Borrowers

and Guarantors’, collectively

the Loan Parties,

assets

and limitations on changes in the nature of the Loan Parties’

business.

As at March 31, 2024, the Company was in compliance with all

applicable covenants under the ABL Facility.

Under

the

terms

ABL

Facility,

Review

Event

(as

defined

the

ABL

Facility)

triggered

if,

among

other

matters, a “change of control” (as defined in the ABL Facility)

occurs.

Following the

occurrence of

a Review

Event, the

Borrowers must

promptly meet

and consult

in good

faith with

the Administrative Agent and the Lenders to agree a

strategy to address the relevant Review Event including but

not limited

to a

restructure of

the terms

of the

ABL Facility

to the

satisfaction of

the Lenders.

If at

the end

of a

period of

business days after the occurrence of

the Review Event, the Lenders are

not satisfied with the result

of their

discussion or

meeting with

the Borrowers

or do

not wish

to continue

to provide

their commitments,

the

Lenders may

declare all

amounts

owing under

the ABL

Facility

immediately due

and payable,

terminate such

Lenders’

commitments

make

loans

under

the

ABL

Facility,

require

the

Borrowers

cash

collateralize

any

letter of credit obligations and/or exercise any and all remedies

and other rights under the ABL Facility.

Subject to customary grace periods and notice requirements, the ABL Facility also contains customary events of

default.

11.

Income Taxes

For the three months ended March 31, 2024

and 2023, the Company estimated its

annual effective tax rate and

applied this effective tax rate to its

year-to-date pretax income at the end

of the interim reporting period. The tax

effects of unusual or

infrequently occurring items,

including effects of changes

in tax laws or rates

and changes

in judgment about the

realizability of deferred

tax assets, are reported

in the interim

period in which they

occur.

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

The Company’s 2024 estimated

annual effective tax

rate is

12.0

%, which has been favorably

impacted by mine

depletion deductions

in the

United States.

The Company

had an

income tax

benefit of

4.1

million based

on a

loss before tax of $

33.1

million for the three months

ended March 31, 2024, which

includes a discrete benefit of

0.1

million relating to the prior year for the United States.

Income tax

expense of

34.0

million for

the three

months ended

March 31,

2023 was

calculated based

on an

estimated annual effective tax rate of

24.0

% for the period.

The Company utilizes the

“more likely than not”

standard in recognizing

a tax benefit in

its financial statements.

For the three months ended

March 31, 2024, the Company

had

new unrecognized tax benefits included in

tax

expense. If accrual

for interest or

penalties is required,

it is the

Company’s policy to include

these as a

component

of income tax expense. The Company continues to carry an unrecognized

tax benefit of $

20.8

million consistent

with December 31, 2023.

The Company is

subject to taxation

in the

U.S. and its

various states, as

well as Australia

and its

various localities.

In the

U.S.

and

Australia, the

first tax

return

was

lodged for

the

year

ended December

31,

2018. In

the U.S.,

companies are

subject to

open tax

audits for

a period

of seven

years at

the federal

level and

five years

at the

state level.

In Australia,

companies

are subject

to open

tax audits

for a

period of

four years

from the

date of

assessment.

The Company assessed the need for valuation allowances by evaluating future taxable income, available for tax

strategies and the reversal of temporary tax differences.

12.

Earnings per Share

Basic earnings per

share of common

stock is computed

by dividing net

income attributable

to the Company

for

the period,

by the

weighted-average

number of

of common

stock outstanding

during the

same period.

Diluted earnings per share of common stock is computed

by dividing net income attributable to the Company

the weighted-average number

of shares

of common

stock outstanding adjusted

to give

effect to potentially

dilutive

securities.

Basic and diluted earnings per share was calculated as

follows (in thousands, except per share data):

Three months ended March 31,

(in US$ thousands, except per share data)

2024

2023

Numerator:

Net (loss) income attributable to Company stockholders

(29,001)

107,860

Denominator (in thousands):

Weighted-average shares of common stock outstanding

167,645

Effects of dilutive shares

—

307

Weighted average diluted shares of common stock

outstanding

167,645

167,952

(Loss) Earnings Per Share (US$):

Basic

(0.17)

0.64

Dilutive

(0.17)

0.64

The Company’s common stock is publicly traded on the

ASX in the form of CDIs, convertible at the option of the

holders into shares of the Company’s common stock

on a

-for-1 basis.

13.

Fair Value Measurement

The fair

value of

a financial

instrument is

the amount

that will

be received

to sell

an asset

or paid

to transfer

liability in

an orderly transaction

between market participants

at the

measurement date. The

fair values

of financial

instruments involve uncertainty and cannot be determined with

precision.

The Company utilizes valuation

techniques that maximize

the use of observable inputs

and minimize the use of

unobservable

inputs

the

extent

possible.

The

Company

determines

fair

value

based

assumptions

that

market participants would use in pricing

an asset or liability in the

market.

When considering market participant

assumptions in fair

value measurements, the

following fair value

hierarchy distinguishes between observable

and

unobservable inputs, which are categorized in one of the following

levels:

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Level

1 Inputs:

Unadjusted

quoted

prices

active

markets

for identical

assets

or liabilities

accessible

the

reporting entity at the measurement date.

Level 2 Inputs:

Other than quoted prices that are observable for the

asset or liability,

either directly or indirectly,

for substantially the full term of the asset or liability.

Level

Inputs:

Unobservable

inputs

for

the

asset

liability

used

measure

fair

value

the

extent

that

observable inputs

are not

available, thereby

allowing for

situations in

which there

is little, if

any,

market activity

for the asset or liability at measurement date.

Financial Instruments Measured on a Recurring Basis

As of March

31, 2024, there

were

financial instruments

required to be

measured at fair

value on a

recurring

basis.

Other Financial Instruments

The following methods

and assumptions

are used to

estimate the fair

value of other

financial instruments

as of

March 31, 2024 and December 31, 2023:

●

Cash

and

cash

equivalents,

accounts

receivable,

short-term

deposits,

accounts

payable,

accrued

expenses,

lease

liabilities

and

other

current

financial

liabilities:

The

carrying

amounts

reported

the

unaudited Condensed Consolidated

Balance Sheets approximate

fair value due to

the short maturity of

these instruments.

●

Restricted

deposits,

lease

liabilities,

interest

bearing

liabilities

and

other

financial

liabilities:

The

fair

values

approximate

the

carrying

values

reported

the

unaudited

Condensed

Consolidated

Balance

Sheets.

●

Interest bearing liabilities: The

Company’s outstanding interest-bearing liabilities are carried at

amortized

cost. As of March 31, 2024, there were

amounts drawn under the revolving credit sublimit of the ABL

Facility.

The estimated

fair value

of the

Notes as

of March

31, 2024

was approximately

250.5

million

based upon quoted market prices in a market that is not

considered active (Level 2).

14.

Accumulated Other Comprehensive Losses

The Company’s Accumulated Other Comprehensive

Losses consists of foreign currency translation adjustment

of subsidiaries for which the functional currency is different

to the Company’s functional currency in

U.S. dollar.

Accumulated other comprehensive losses consisted of

the following at March 31, 2024:

(in US$ thousands)

Foreign

currency

translation

adjustments

Balance at December 31, 2023

(89,927)

Net current-period other comprehensive loss:

Loss in other comprehensive income before reclassifications

(5,265)

Loss on long-term intra-entity foreign currency transactions

(18,023)

Total

net current-period other comprehensive loss

(23,288)

Balance at March 31, 2024

(113,215)

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

15.

Commitments

(a)

Mineral Leases

The

Company

leases

mineral

interests

and

surface

rights

from

land

owners

under

various

terms

and

royalty

rates. The future minimum royalties under these leases

as of March 31, 2024 are as follows:

(in US$ thousands)

Amount

Year ending

December 31,

2024

4,228

2025

5,474

2026

5,338

2027

5,300

2028

5,243

Thereafter

25,397

Total

50,980

Mineral leases

are not

in scope

of Accounting

Standards Codification, or

ASC, 842

and continue

to be

accounted

for under the guidance in ASC 932, Extractive Activities

– Mining.

(b)

Other commitments

As of

March 31, 2024,

purchase commitments for

capital expenditures were

68.6

million, all of

which is obligated

within the next twelve months.

In Australia, the

Company has generally

secured the ability

to transport coal

through rail contracts

and coal export

terminal contracts that are primarily funded

through take-or-pay arrangements with terms ranging up to

13 years

In the U.S., the Company

typically negotiates its rail

and coal terminal access

on an annual basis.

As of March

31,

2024,

these

Australian

and

U.S.

commitments

under

take-or-pay

arrangements

totaled

723.0

million,

which approximately $

90.0

million is obligated within the next twelve months.

16.

Contingencies

Surety bond, letters of credit and bank guarantees

In the

normal course

of business,

the Company

is a

party to

certain guarantees

and financial

instruments with

off-balance sheet

risk, such

as letters

of credit

and performance

or surety

bonds.

liabilities related

to these

arrangements are reflected

in the Company’s

unaudited Condensed Consolidated Balance Sheets.

Management

does not expect any material losses to result from these

guarantees or off-balance sheet financial instruments.

For

the

U.S.

Operations

order

provide

the

required

financial

assurance

for

post

mining

reclamation,

the

Company generally uses

surety bonds. The

Company uses surety

bonds and bank

letters of credit

to collateralize

certain other obligations including contractual obligations under workers’ compensation insurances.

As of March

31, 2024, the Company had outstanding surety bonds of

46.7

million and letters of credit of $

16.8

million issued

from our available bank guarantees under the ABL Facility.

For the

Australian Operations

as at

March 31,

2024, the

Company had

bank guarantees

outstanding of

24.2

million,

including

4.9

million

issued

from

the

ABL

Facility,

primarily

respect

certain

rail

and

port

arrangements of the Company.

As at

March 31, 2024,

the Company in

aggregate had total

outstanding bank guarantees

provided of $

41.0

million

to secure its obligations and commitments, including $

21.7

million issued from the ABL Facility.

Future regulatory changes

relating to these

obligations could result

in increased obligations,

additional costs or

additional collateral requirements.

Restricted deposits – cash collateral

As required

by certain

agreements, the

Company had

cash collateral

in the

form of

deposits in

the amount

68.9

million and $

68.7

million as of

March 31, 2024

and December 31,

2023, respectively,

to provide back-to-

back support

for bank

guarantees,

financial

payments,

other performance

obligations, various

other

operating

agreements and

contractual obligations

under workers

compensation insurance

These deposits

are restricted

and classified as long-term assets in the unaudited Condensed

Consolidated Balance Sheets.

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

In accordance

with the

terms of

the ABL

Facility,

the Company

may be

required

to cash

collateralize

the ABL

Facility to the extent of outstanding letters of credit

after the expiration or termination date of such

letter of credit

after

the

expiration

termination

date

such

letter

credit.

March

31,

2024,

letter

credit

was

outstanding after the expiration or termination date and

cash collateral was required.

Stamp duty on Curragh acquisition

On September 27, 2022, the Company received from

the Queensland Revenue Office, or QRO,

an assessment

of the stamp duty

payable on its

acquisition of the Curragh

mine in March

2018. The QRO assessed

the stamp

duty on this acquisition at an amount of $

56.2

million (A$

82.2

million) plus unpaid tax interest. On November 23,

2022,

the

Company

filed

objection

the

assessment.

The

Company’s

objection

was

based

legal

and

valuation advice obtained, which supported an estimated stamp duty

payable of $

29.4

million (A$

43.0

million) on

the Curragh acquisition.

On January 9, 2024, the Company’s objection to the

assessed stamp duty was disallowed by the QRO.

As per the Taxation Administration Act (Queensland) 2001, the Company could only appeal or apply for a review

of QRO’s

decision if

it has

paid the

total assessed

stamp duty

of $

56.2

million (A$

82.2

million) plus

unpaid tax

interest of $

14.5

million (A$

21.2

million). The Company had until March 11,

2024, to file an appeal.

On March 6, 2024,

the Company made an

additional payment, and

paid in full, the stamp

duty assessed by

the

QRO.

The Company disputes

the additional

amount of assessed

stamp duty and,

on March 11,

2024, filed its

appeal

with the Supreme Court of Queensland.

From time to time, the

Company becomes a

party to other legal

proceedings in the

ordinary course of business

in Australia, the U.S. and other countries where the Company does business.

Based on current information, the

Company believes that such other pending

or threatened proceedings are likely to

be resolved without a material

adverse

effect

its

financial

condition,

results

operations

cash

flows.

management’s

opinion,

the

Company is not currently

involved in any legal

proceedings, which individually

or in the aggregate

could have a

material effect on the financial condition, results of

operations and/or liquidity of the Company.

17. Related

‑

Party Transactions

SGI Transaction

On September 25, 2023, Energy &

Minerals Group, the Company’s controlling stockholder through its ownership

of Coronado Group

LLC, including through

certain of its

affiliates and managed

funds (the Sellers),

advised the

Company

that

had

entered

into

membership

interest

purchase

agreement,

MIPA,

with

Sev.en

Global

Investments

a.s.,

SGI.

copy

the

MIPA

has

not

been

made

available

the

Company

the

Special

Committee

referred

below

the

date

this

Quarterly

Report

Form

10-Q.

However,

the

Company

understands that, pursuant

to the terms of

the MIPA,

the Sellers agreed to

sell all of their

interests

in Coronado

Group LLC to

a wholly-owned

subsidiary of

SGI. We

refer to the

proposed transaction

as the SGI

Transaction.

The

Company

also

understands

that,

under

the

MIPA,

the

SGI

Transaction

subject

customary

closing

conditions including regulatory approvals in the U.S. and Australia.

The Board of

Directors has appointed

a special committee

of independent

directors, or the

Special Committee,

to, among other things, assess

the impact and consequences of the

SGI Transaction on the

Company and take

such actions as the Special Committee deems appropriate

in connection with the SGI Transaction.

The Energy and

Minerals Group

has reported that

following the

closing of

the SGI Transaction,

SGI will

be the

direct or indirect owner of

Coronado Group LLC. As of the

date of this Quarterly Report on

Form 10-Q, Coronado

Group LLC

is currently

the direct

owner of

845,061,399

CDIs (representing

a beneficial

interest in

84,506,140

of common

stock,

50.4

% of

the Company’s

outstanding

total common

stock)

and the

one

Series

Share.

Based on information that the Company is currently aware of,

on completion of the SGI Transaction,

a change of

control

defined

under

the

terms

Notes

and

ABL

Facility

may

occur.

Refer

Note

10.

“Interest

Bearing

Liabilities” for further information.

Table of Contents

NOTES TO UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(Continued)

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Under the

Company’s

2018

Equity

Incentive

Plan,

the

change

of control

provisions

may

also

triggered

completion

the

SGI

Transaction,

however

the

Compensation

and

Nominating

Committee

the

Board

Directors, at its

sole discretion, will determine

how the outstanding awards

under the plan

will be dealt

with, which

may include acceleration of the vesting conditions.

addition,

certain

contract

counterparties,

including

Stanwell,

customers,

suppliers

and

third-party

providers

may assert

contractual rights, such

as consent or

termination rights that

may be triggered

by the

change of control

resulting from the consummation of the SGI Transaction.

For a number of

customers and supplier agreements, including

contractor agreements, the completion of

the SGI

Transaction

may

trigger

financial

suitability

assessment

the

counterparty,

which

may

entitle

the

counterparty

terminate

the

agreement,

request

further

security

seek

amendments

the

terms

the

agreement.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

REPORT OF INDEPENDENT REGISTERED PUBLIC

ACCOUNTING FIRM

To the Stockholders

and Board of Directors of Coronado Global Resources

Inc.

Results of Review of Interim Financial Statements

have

reviewed

the

accompanying

condensed

consolidated

balance sheet

Coronado

Global

Resources

Inc.

(the

Company)

March

31,

2024,

the

condensed

consolidated

statements

operations

and

comprehensive

income,

stockholders'

equity and

cash

flows for

the

three

months

ended March

31,

2024

and

2023 and the

related notes (collectively referred

to as the

“condensed consolidated interim financial

statements”).

Based on

our reviews,

we are

not aware

of any

material modifications

that should

be made

to the

condensed

consolidated interim

financial statements

for them

to be

in conformity

with U.S.

generally accepted

accounting

principles.

have

previously

audited,

accordance

with

the

standards

the

Public

Company

Accounting

Oversight

Board (United States) (PCAOB), the

consolidated balance sheet of the Company

as of December 31, 2023, the

related consolidated statements

of operations

and comprehensive

income, stockholders'

equity and cash

flows

for the year then ended, and

the related notes (not presented herein), and

in our report dated February 20, 2024,

expressed

unqualified

audit

opinion

those

consolidated

financial

statements.

our

opinion,

the

information set

forth in

the accompanying

condensed consolidated

balance sheet

as of December

31, 2023,

fairly stated, in all material

respects, in relation to the consolidated balance

sheet from which it has been

derived.

Basis for Review Results

These financial

statements

are the

responsibility

of the

Company's

management.

are a

public accounting

firm registered with the PCAOB and are required

to be independent with respect to the Company

in accordance

with the

U.S. federal

securities laws

and the

applicable rules

and regulations

of the

SEC and

the PCAOB.

conducted our review

in accordance with

the standards of

the PCAOB. A

review of interim

financial statements

consists principally

of applying

analytical procedures

and making

inquiries of

persons

responsible for

financial

and accounting matters.

It is substantially

less in scope

than an audit

conducted in accordance

with the standards

of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as

a whole. Accordingly,

we do not express such an opinion.

/s/ Ernst & Young

Brisbane, Australia

May 6, 2024.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

ITEM 2.

MANAGEMENT’S DISCUSSION

AND ANALYSIS

OF FINANCIAL

CONDITION AND

RESULTS

OPERATIONS

The following

Management’s Discussion

and Analysis

of our Financial

Condition and

Results of

Operations, or

MD&A, should be read in conjunction with the unaudited Condensed Consolidated Financial Statements and the

notes

to those

statements

included elsewhere

in this

Quarterly

Report

on Form 10

-Q.

In addition,

this

Quarterly Report on Form 10-Q report should be read in conjunction with the Consolidated Financial Statements

for year ended December 31,

2023 included in Coronado Global

Resources Inc.’s Annual

Report on Form 10-K

for the year

ended December

31, 2023, filed

with the U.S.

Securities and

Exchange Commission,

or SEC,

and

the Australian Securities Exchange, or the ASX, on February

20, 2024.

Unless otherwise

noted,

references

in this

Quarterly

Report on

Form 10-Q

to “we,”

“us,”

“our,”

“Company,”

“Coronado” refer

to Coronado

Global Resources

Inc. and

its consolidated

subsidiaries and

associates, unless

the context indicates otherwise.

All production and sales volumes contained in this Quarterly Report on Form 10-Q

are expressed in metric tons,

or Mt,

millions of

metric tons,

or MMt,

or millions

of metric

tons per

annum, or

MMtpa, except

where otherwise

stated. One Mt

(1,000 kilograms) is equal

to 2,204.62 pounds and

is equivalent to 1.10231

short tons. In addition,

all

dollar

amounts

contained

herein

are

expressed

United

States

dollars,

US$,

except

where

otherwise

stated.

References

“A$”

are

references

Australian

dollars,

the

lawful

currency

the

Commonwealth

Australia. Some numerical figures included in this Quarterly Report

on Form 10-Q have been subject to rounding

adjustments. Accordingly, numerical figures shown as

totals in certain

tables may not

equal the sum

of the figures

that precede them.

CAUTIONARY NOTICE REGARDING FORWARD

-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of Section 27A of

the Securities Act of 1933, as

amended, and Section 21E of the Securities

Exchange Act of 1934, as amended,

or the Exchange

Act, concerning

our business,

operations, financial

performance and

condition, the

coal, steel

and

other

industries,

as well

our

plans,

objectives

and

expectations

for

our

business,

operations,

financial

performance

and

condition.

Forward-looking

statements

may

identified

words

such

“may,”

“could,”

“believes,”

“estimates,”

“expects,”

“intends,”

“plans,”

“anticipate,”

“forecast,”

“outlook,”

“target,”

“likely,”

“considers” and other similar words.

Any

forward-looking

statements

involve

known

and

unknown

risks,

uncertainties,

assumptions

and

other

important factors that

could cause actual

results, performance,

events or outcomes

to differ

materially from

the

results,

performance,

events

outcomes

expressed

anticipated

these

statements,

many

which

are

beyond

our

control.

Such

forward-looking

statements

are

based

assessment

present

economic

and

operating

conditions

number

best

estimate

assumptions

regarding

future

events

and

actions.

These

factors are difficult to accurately predict and may be beyond our control. Factors that could affect our results, our

announced plans, or an investment in our securities include,

but are not limited to:

●

the prices we receive for our coal;

●

uncertainty

global

economic

conditions,

including

the

extent,

duration

and

impact

ongoing

civil

unrest and wars,

as well as

risks related to

government actions with

respect to trade

agreements, treaties

or policies;

●

a decrease in

the availability or increase

in costs of

key supplies, capital equipment

or commodities, such

as diesel fuel, steel, explosives and tires, as the result

of inflationary pressures or otherwise;

●

the extensive forms of taxation

that our mining operations

are subject to, and future

tax regulations and

developments.

For

example,

the

amendments

the

coal royalty

regime

implemented

2022

by the

Queensland State Government in Australia introducing higher tiers to the coal royalty rates applicable to

our Australian Operations;

●

concerns about the environmental impacts of coal combustion and greenhouse gas, or GHG emissions,

relating

mining

activities,

including

possible

impacts

on global

climate

issues,

which

could

result

increased

regulation

coal

combustion

and

requirements

reduce

GHG

emissions

many

jurisdictions, including federal and state government initiatives to control GHG emissions could increase

costs associated with

coal production

and consumption, such

as costs for

additional controls to

reduce

carbon

dioxide

emissions

costs

purchase

emissions

reduction

credits

comply

with

future

emissions

trading

programs,

which

could

significantly

impact

our

financial

condition

and

results

operations, affect demand

for our products

or our

securities and reduced

access to capital

and insurance;

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

●

the impact

of the

SGI Transaction

(as defined

in Item

1. Financial

Statements), including

the impact

the SGI Transaction on change of control

and related provisions in material agreements;

●

severe financial hardship, bankruptcy,

temporary or permanent shut downs or operational

challenges of

one or more of our major

customers, including customers in the steel industry, key suppliers/contractors,

which

among

other

adverse

effects,

could

lead

reduced

demand

for

our

coal,

increased

difficulty

collecting receivables

and customers

and/or suppliers

asserting force

majeure or

other reasons

for not

performing their contractual obligations to us;

●

our ability to generate sufficient cash to service

our indebtedness and other obligations;

●

our indebtedness and ability to

comply with the covenants and other

undertakings under the agreements

governing such indebtedness;

●

our

ability

collect

payments

from

our

customers

depending

their

creditworthiness,

contractual

performance or otherwise;

●

the demand for steel products, which impacts the demand for

our metallurgical, or Met, coal;

●

risks inherent to

mining operations could

impact the amount

of coal produced,

cause delay or

suspend

coal deliveries, or increase the cost of operating our business;

●

the loss of, or significant reduction in, purchases by our

largest customers;

●

risks unique to international mining and trading operations,

including tariffs and other barriers to trade;

●

unfavorable economic and financial market conditions;

●

our ability to continue acquiring and developing coal reserves

that are economically recoverable;

●

uncertainties in estimating our economically recoverable coal

reserves;

●

transportation for our coal becoming unavailable or uneconomic

for our customers;

●

the risk

that we

may

be required

to pay

for unused

capacity

pursuant

to the

terms

of our

take-or-pay

arrangements with rail and port operators;

●

our ability to retain key personnel and attract qualified

personnel;

●

any failure to maintain satisfactory labor relations;

●

our ability to obtain, renew or maintain permits and consents

necessary for our operations;

●

potential costs or liability under applicable environmental

laws and regulations, including with respect

any

exposure

hazardous

substances

caused

our

operations,

well

any

environmental

contamination our properties may have or our operations

may cause;

●

extensive regulation of our mining operations and future

regulations and developments;

●

our

ability

provide

appropriate

financial

assurances

for

our

obligations

under

applicable

laws

and

regulations;

●

assumptions underlying our asset retirement obligations

for reclamation and mine closures;

●

any cyber-attacks or other security breaches that disrupt

our operations or result in the dissemination of

proprietary or confidential information about us, our customers

or other third parties;

●

the risk that we may not recover our investments in our mining, exploration and other assets, which may

require us to recognize impairment charges related to those assets;

●

risks related to divestitures and acquisitions;

●

the risk that diversity in interpretation and application of accounting principles in the mining industry may

impact our reported financial results; and

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

●

other

risks

and

uncertainties

detailed

herein,

including,

but

not

limited

to,

those

discussed

“Risk

Factors,” set forth in Part II, Item 1A of this Quarterly Report

on Form 10-Q.

make

many

our

forward-looking

statements

based

our

operating

budgets

and

forecasts,

which

are

based upon

detailed assumptions.

While we

believe that

our assumptions

are reasonable,

we caution

that it

very difficult to

predict the impact

of known factors,

and it is

impossible for us

to anticipate all

factors that could

affect our actual results.

See Part I, Item

1A. “Risk Factors”

of our Annual Report

on Form 10-K for

the year ended December

31, 2023,

filed with the SEC and ASX

on February 20, 2024 for

a more complete discussion

of the risks and uncertainties

mentioned above

and for

discussion of

other risks

and uncertainties

we face

that could

cause actual

results to

differ materially from those expressed or implied by

these forward-looking statements.

All

forward-looking

statements

attributable

are

expressly

qualified

their

entirety

these

cautionary

statements, as well as others

made in this Quarterly Report on Form

10-Q and hereafter in our other

filings with

the

SEC

and

public

communications.

You

should

evaluate

all

forward-looking

statements

made

the

context of these risks and uncertainties.

We caution you that the risks and uncertainties identified by us may not be all of the factors that are important to

you.

You

should

not

interpret

the

disclosure

any

risk

imply

that

the

risk

has

not

already

materialized.

Furthermore, the

forward-looking statements

included in this

Quarterly Report

on Form 10-Q

are made only

of the date

hereof. We

undertake no

obligation to

publicly update

or revise

any forward-looking

statement as

result of new information, future events, or otherwise, except

as required by applicable law.

Results of Operations

How We Evaluate Our Operations

evaluate

our

operations

based

the

volume

coal

can

safely

produce

and

sell

compliance

with

regulatory

standards,

and

the

prices

receive

for

our

coal.

Our

sales

volume

and

sales

prices

are

largely

dependent upon

the terms

of our

coal sales

contracts, for

which prices

generally are

set based

on daily

index

averages, on a quarterly basis or annual fixed price

contracts.

Our management

uses a

variety of

financial and

operating metrics

to analyze

our performance.

These metrics

are significant factors

in assessing

our operating results

and profitability.

These financial

and operating metrics

include: (i) safety and environmental metrics; (ii) Adjusted EBITDA; (iii) total sales volumes and average realized

price

per

sold,

which

define

total

coal

revenues

divided

total

sales

volume;

(iv) Met

coal

sales

volumes and average realized Met price per

Mt sold, which we define as Met coal

revenues divided by Met coal

sales volume; (v) average

segment mining costs

per Mt sold,

which we define

as mining costs

divided by sales

volumes (excluding non-produced coal) for the respective segment; (vi) average segment operating costs

per Mt

sold, which we define as segment operating costs divided by sales volumes for the respective segment; and (vii)

net cash, which we define

as cash and cash equivalents

(excluding restricted cash)

less outstanding aggregate

principal amount of the Notes.

Coal

revenues

are

shown

our

statement

operations

and

comprehensive

income

exclusive

other

revenues.

Generally,

export

sale contracts

for our

Australian

Operations

require

us to

bear the

cost

of freight

from our mines to

the applicable outbound

shipping port, while freight

costs from the port

to the end destination

are typically

borne by the

customer. Sales to the

export market from

our U.S.

Operations are generally

recognized

when title

to the coal

passes to

the customer

at the

mine load

out similar

to a

domestic sale.

For our

domestic

sales, customers typically

bear the cost

of freight. As

such, freight expenses

are excluded from

the cost of coal

revenues to allow for consistency and comparability

in evaluating our operating performance.

Non-GAAP Financial Measures; Other Measures

The

following

discussion

our

results

includes

references

and

analysis

Adjusted

EBITDA,

Segment

Adjusted EBITDA and mining

costs, which are financial

measures not recognized in

accordance with U.S. GAAP.

Non-GAAP financial

measures, including

Adjusted EBITDA,

Segment Adjusted

EBITDA and

mining costs,

are

used by investors to measure our operating performance.

Non-GAAP financial measures are intended to provide additional information only and do not have any standard

meaning prescribed by U.S. GAAP.

These measures should not be considered

in isolation or as a substitute for

measures of performance prepared in accordance with

U.S. GAAP.

Adjusted EBITDA, a non-GAAP measure, is defined as earnings before interest, tax, depreciation, depletion and

amortization

and

other

foreign

exchange

losses.

Adjusted

EBITDA

also

adjusted

for

certain

discrete

non-

recurring items that we exclude in

analyzing each of our segments’

operating performance. Adjusted EBITDA

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

not intended

to serve

as an

alternative to

U.S. GAAP measures

of performance

including total

revenues, total

costs and expenses,

net income or

cash flows from

operating activities as

those terms are

defined by U.S.

GAAP.

Adjusted EBITDA may

therefore not be

comparable to

similarly titled measures

presented by other

companies.

A reconciliation of

Adjusted EBITDA to

its most

directly comparable measure

under U.S. GAAP is

included below.

Segment

Adjusted

EBITDA

defined

Adjusted

EBITDA

operating

and

reporting

segment,

adjusted

for

certain

transactions,

eliminations

adjustments

that

our

CODM

does

not

consider

for

making

decisions

allocate resources among segments or assessing segment performance.

Segment Adjusted EBITDA is used as

a supplemental

financial measure

by management

and by

external users

of our

financial statements,

such

investors, industry analysts and lenders, to assess the operating

performance of the business.

Mining costs, a

non-GAAP measure, is

based on

reported cost of

coal revenues, which

is shown

on our

statement

operations

and

comprehensive

income

exclusive

freight

expense,

Stanwell

rebate,

other

royalties,

depreciation,

depletion

and

amortization,

and selling,

general and

administrative

expenses,

adjusted for

other

items that do not relate directly to the costs incurred to produce coal at a mine. Mining costs excludes these cost

components as

our CODM

does not

view these

costs as

directly attributabl

to the

production of

coal. Mining

costs

used

supplemental

financial

measure

management,

providing

accurate

view

the

costs

directly

attributable

the

production

coal

our

mining

segments,

and

external

users

our

financial

statements, such as

investors, industry analysts and

ratings agencies, to assess

our mine operating

performance

in comparison to the mine operating performance of other

companies in the coal industry.

Overview

are

global

producer,

marketer

and

exporter

full

range

Met

coal

products.

own

portfolio

operating mines and development

projects in Queensland, Australia,

and in the states of

Virginia, West Virginia

and Pennsylvania in the United States.

Our Australian

Operations

comprise the

100%-owned

Curragh producing

mine complex.

Our U.S.

Operations

comprise

two

100%-owned

producing

mine

complexes

(Buchanan

and

Logan),

one

100%-owned

idled

mine

complex (Greenbrier) and two development properties (Mon Valley

and Russell County). In addition to Met coal,

our Australian

Operations sell

thermal coal

domestically,

which is

used to

generate electricity,

to Stanwell

and

some thermal

coal in

the export

market. Our

U.S. Operations

primarily focus

on the

production of

Met coal

for

the North American domestic and seaborne export

markets and also produce and sell some

thermal coal that is

extracted in the process of mining Met coal.

During the three

months ended March

31, 2024, Coronado

faced some unforeseen

operational challenges that

were beyond our control.

Our

U.S.

Operations

suffered

from

mechanical

issues,

resulting

increased

downtime

and

unplanned

maintenance,

as well as geological issues adversely impacting production yield. Our Australian Operations were

once

again

compelled

adjust

production

schedule

and

implement

contingency

plans

mitigate

inclement

weather that impacted mining

operations in the Bowen

Basin. Our Australian Operations

demonstrated resilience

and

adaptability,

and

were

able

maintain

steady

level

overburden

removal

throughout

the

quarter,

surpassing historical first quarter performance in the operations

history.

Overall, for

the three

months ended

March 31,

2024, saleable

production of

3.4 MMt

was 0.3

MMt lower

while

sales volume of 3.7 MMt remained consistent compared to the three

months ended March 31, 2023.

Coking coal index

prices declined in

the first quarter

of 2024 compared

to the fourth

quarter of December

2023

due to

a combination

of weak steel

demand out

of China, economic

slowdown in

India due

to its

upcoming general

elections and increased overall supply of coking coal globally.

The Australian Premium Low Volatile Hard Coking Coal, or AUS

PLV HCC, index price averaged $308.38 per Mt

for the three months

ended March 31, 2024, $25.5

per Mt lower, compared to the three months

ended December

31, 2023, and $35.5 per Mt lower,

compared to the three months ended March 31,

2023.

Coal revenues of

$633.0 million for the

three months ended March

31, 2024, were

down $105.4 million

compared

to the same

period in

2023, driven

by lower

average realized

price of

$204.3 per

Mt sold,

compared to

$239.7

per Mt sold for the three months ended March 31, 2023

Mining

costs

for

the

three

months

ended

March

31,

2024,

were

$101.3

million,

$24.0

per

sold,

higher

compared to the corresponding

period in 2023, largely

driven by unplanned maintenance

costs, inflation impact

on labor and supply costs, significant inventory drawdown due to sales exceeding production in the 2024 period.

Our Australian

Operations

demobilized several

mining equipment

towards the

end of

the first

quarter of

2024,

which is expected to reduce mining costs for the remainder

of 2024.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Liquidity

Coronado had

available liquidity of $374.7 million as of March 31, 2024, consisting of cash and cash equivalents

(excluding

restricted

cash),

unrestricted

short-term

deposits

$21.7

million

and

$128.3

million

availability

under our ABL

facility.

As of March

31, 2024, our

net debt position

was $17.6

million comprising

$242.3 million

aggregate principal

amount of

Notes outstanding

less cash and

cash equivalents

(excluding restricted

cash) of

$224.7 million.

Safety

For

our

Australian

Operations,

the

twelve-month

rolling

average

Total

Reportable

Injury

Frequency

Rate,

TRIFR, at March

31, 2024

was 1.63,

compared to

a rate

of 1.83 at

the end of

December 31,

2023. At ou

U.S.

Operations, the

twelve-month rolling

average Total

Reportable Incident

Rate, or

TRIR, at

March 31,

2024 was

2.12, compared to a rate of

1.44 at the end of December

31, 2023. Reportable rates for

our Australian and U.S.

Operations are below the relevant industry benchmarks.

The health and

safety of our

workforce is our

number one priority

and Coronado continues

to implement safety

initiatives to improve our safety rates every quarter.

Segment Reporting

In accordance with

Accounting Standards Codification,

or ASC, 280,

Segment Reporting, we

have adopted the

following reporting

segments: Australia and

the United

States. In

addition, “Other and

Corporate” is

not a

reporting

segment but is disclosed for the purposes of reconciliation

to our consolidated financial statements.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Three Months Ended March 31, 2024 Compared to

Three Months Ended March 31, 2023

Summary

The financial and operational highlights for the three months

ended March 31, 2024 include:

●

Net loss for the three months ended March 31, 2024, of $29.0 million compared to net income of $107.9

million for the three months ended

March 31, 2023. This result was driven

by lower average realized Met

coal price per Mt sold, higher

mining and operating costs, partially

offset by tax benefit

of $4.1 million in

the first quarter of

2024 compared to an

income tax expense of

$34.0 million for the

same period in

2023.

●

Average realized Met price per Mt sold of

$204.3 for the three months ended March

31, 2024,

was $35.4

per

lower

compared

average

realized

price

$239.7

per

sold

for

the

same

period

2023.

Coking coal index prices

declined due to weak

steel demand in China

and economic slowdown

in India

and increasing

coal supply

from Australia

as weather

conditions and

logistical constraints

improved in

the quarter.

●

Sales volume of 3.7 MMt

for the three months

ended March 31, 2024

were largely in line

with the sales

volume

comparative

period

2023,

despite

saleable

production

being

0.3

MMt

lower,

our

operations drew down on coal inventory built in the fourth

quarter of 2023.

●

Adjusted

EBITDA

for

the

three

months

ended

March

31,

2024,

$14.6

million,

was

$176.1

million

lower, compared to $190.7 million for the three

months ended March 31, 2023,

largely due to lower coal

sales revenues and higher mining and operating costs.

●

As of March

31, 2024,

the Company

had total

available liquidity

of $374.7

million, consisting

of $224.7

million

cash

and

cash

equivalents

(excluding

restricted

cash),

$21.7

million

unrestricted

short-term

deposits and $128.3 million of availability under the ABL

Facility.

Three months ended March 31,

2024

2023

Change

(in US$ thousands)

Revenues:

Coal revenues

632,993

738,345

(105,352)

(14.3%)

Other revenues

35,156

27,369

7,787

28.5%

Total

revenues

668,149

765,714

(97,565)

(12.7%)

Costs and expenses:

Cost of coal revenues (exclusive of items

shown separately below)

472,521

380,474

92,047

24.2%

Depreciation, depletion and amortization

45,349

39,423

5,926

15.0%

Freight expenses

56,822

63,353

(6,531)

(10.3%)

Stanwell rebate

31,451

39,208

(7,757)

(19.8%)

Other royalties

85,160

85,957

(797)

(0.9%)

Selling, general, and administrative expenses

8,815

7,774

1,041

13.4%

Total

costs and expenses

700,118

616,189

83,929

13.6%

Other income (expenses):

Interest expense, net

(13,329)

(14,665)

1,336

(9.1%)

Decrease in provision for discounting and

credit losses

173

3,988

(3,815)

(95.7%)

Other, net

12,012

3,042

8,970

294.9%

Total

other (expenses) income, net

(1,144)

(7,635)

6,491

(85.0%)

Net (loss) income before tax

(33,113)

141,890

(175,003)

(123.3%)

Income tax benefit (expense)

4,112

(34,030)

38,142

(112.1%)

Net (loss) income attributable to Coronado Global

Resources, Inc.

(29,001)

107,860

(136,861)

(126.9%)

Coal Revenues

Coal revenues were $633.0 million for the

three months ended March 31, 2024, $105.4

million lower, compared

to $738.3 million for the three months

ended March 31, 2023, mainly due

to lower average realized price per

sold. Lower Met

coal price indices, due

to unfavorable market

conditions, saw the average

realized Met coal

price

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

for the three

months ended

March 31, 2024,

to be $35.4

lower per Mt

sold compared

to $239.7 per

Mt sold for

the same period in 2023.

Other revenues

were $35.2

million the

three months

ended March

31, 2024,

an increase

of $7.8

million, compared

to $27.4 million for

the same period in 2023.

This increase was primarily driven

by higher termination fee

revenue

from coal sales contracts

cancelled at our U.S.

Operations compared to the three

months ended March 31,

2023.

Cost of Coal Revenues (Exclusive of Items Shown

Separately Below)

Cost of coal revenues comprise costs related

to produced tons sold, along with

changes in both the volumes and

carrying

values

coal

inventory.

Cost

coal

revenues

include

items

such

direct

operating

costs,

which

includes employee-related costs,

materials and

supplies, contractor services,

coal handling

and preparation costs

and production taxes.

Total

cost

of coal

revenues

was

$472.5

million

for the

three

months

ended

March

31,

2024, $92.0

million,

24.2% higher, compared to

$380.5 million for the three months ended March 31,

2023.

Our Australian Operations

contributed to $82.6

million of the

increase in cost

of coal revenues,

primarily driven

by higher

draw down

of coal

inventory resulting

from sales

volume exceeding

saleable production

in the

three

months ended

March 31,

2024,

impact of

inflation on

labor and

supply costs,

higher overburden

removal

and

unplanned equipment maintenance.

Increase in

costs were

partially offset by

favorable average foreign

exchange

rate on

translation

of the

Australian

Operations

for the

three

months

ended March

31, 2024,

A$/US$:

0.66

compared to 0.68 for the same period in 2023.

Cost

coal

revenues

for

our

U.S.

Operations

for

the

three

months

ended

March

31,

2024,

was

$9.4

million

higher

compared

the

three

months

March

31,

2023,

largely

due

lower

sales

volumes

and

increased

unplanned maintenance as a result of mechanical and

geological issues which impacted production.

Depreciation, Depletion and Amortization

Depreciation,

depletion

and

amortization

was

$45.3

million

for

the

three

months

ended

March

31,

2024,

increase of

$5.9 million,

compared to

$39.4 million

for the

three months

ended March

31, 2023.

The increase

was due

to additional

equipment brought

into service

during the

twelve months

since March

31, 2023

partially

offset by favorable average foreign exchange rate

on translation of the Australian Operations.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Freight Expenses

Freight expenses

relate to

costs associated

with rail

and port

providers, including

take-or-pay commitments

our

Australian

Operations,

and

demurrage

costs.

Freight

expenses

totaled

$56.8

million

for the

three

months

ended March 31, 2024, a decrease of $6.5 million, compared

to $63.4 million for the three months ended March

31,

2023,

primarily

driven

lower

coal

sales

under

Free

Board,

FOB,

terms

our

U.S.

Operations,

compared to the three months ended March 31, 2023.

Stanwell Rebate

The Stanwell rebate

was $31.4

million for the

three months

ended March

31, 2024,

a decrease

of $7.8 million,

compared to $39.2 million for

the three months ended March

31, 2023. The decrease was largely

driven by lower

realized

reference

coal

pricing

for the

prior

twelve-month

period

applicable

three

months

ended

March

31,

2024, used

to calculate

the rebate

compared to

the same

period in

2023, and

favorable foreign

exchange rate

on translation of our Australian Operations.

Interest Expense, net

Interest expense,

net was

$13.3 million

in the

three months

ended March

31, 2024,

a decrease

of $1.3

million

compared to $14.7 million for the three months ended March 31,

2023. The decrease was due to higher interest

income on term deposits, classified as cash equivalents

that did not exist in the same period in 2023.

Decrease in provision for discounting and credit losses

Decrease in provision for discounting and credit losses of

$0.2 million in the three months ended March

31, 2024

was lower

compared to

the $4.0

million for

the three

months March

31, 2023,

primarily

driven by

collection

certain overdue trade receivables at December 31, 2022 during

the three months ended March 31, 2023.

Other, net

was $12.0 million

for the three

months ended March

31, 2024, an

increase of $9.0

million compared

to $3.0 million for the three months ended March 31,

2023. The increase was largely driven by higher exchange

losses on translation of short

-term inter-entity balances in certain

entities within the group that

are denominated

in currencies other than their respective functional currencies.

Income Tax Benefit (Expense)

Income

tax

benefit

$4.1

million

for

the

three

months

ended

March

31,

2024,

difference

$38.1

million,

compared to the income tax expense

of $34.0 million for the three months

ended March 31, 2023, driven by net

loss before tax for

the three months ended March 31,

2024, compared to a profit

before tax for the corresponding

period in 2023.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Supplemental Segment Financial Data

Three months ended March 31, 2024 compared to three months

ended March 31, 2023

Australia

Three months ended March 31,

2024

2023

Change

(in US$ thousands)

Sales volume (MMt)

2.5

2.2

0.3

15.3%

Total

revenues ($)

436,106

398,661

37,445

9.4%

Coal revenues ($)

427,597

390,804

36,793

9.4%

Average realized price per Mt sold ($/Mt)

169.8

178.9

(9.1)

(5.1)%

Met sales volume (MMt)

1.8

1.5

0.3

17.7%

Met coal revenues ($)

408,303

372,519

35,784

9.6%

Average realized Met price per Mt sold ($/Mt)

225.2

241.9

(16.7)

(6.9)%

Mining costs ($)

317,864

236,056

81,808

34.7%

Mining cost per Mt sold ($/Mt)

126.9

108.5

18.4

17.0%

Operating costs ($)

462,733

385,226

77,507

20.1%

Operating costs per Mt sold ($/Mt)

183.7

176.4

7.3

4.1%

Segment Adjusted EBITDA ($)

(26,227)

13,233

(39,460)

(298.2)%

Coal revenues for

our Australian Operations,

for the three

months ended March

31, 2024, were

$427.6 million,

an increase

of $36.8 million,

or 9.4%, compared

to $390.8

million for

the three

months ended

March 31,

2023.

This increase was driven by higher sales volume

partially offset by lower average

realized Met coal price per Mt

sold compared to the three months ended March 31,

2023. Higher sales volumes were achieved by drawing port

inventories built at

the end of

2023 due to port

constraints. The lower average

realized Met coal prices

was driven

weakening

demand

from

China

and

economic

slowdown

from

India

combined

with

improved

supply

from

Australia and U.S.

Operating costs

were $462.7

million, an

increase of

$77.5 million

or 20.1%,

for the

three months

ended March

31,

2024,

compared

$385.2

million

for

the

three

months

ended

March

31,

2023.

The

increase

was

largely

driven by

higher mining

costs

and partially

offset

by lower

Stanwell rebates.

Higher

mining

costs were

due to

higher

labor

and

supply

costs

result

inflation

impacts,

and

drawdown

coal

inventories

due

sales

exceeding production in the first quarter of 2024.

This was partially offset by favorable average foreign exchange

rates on translation of the

Australian Operations. Mining cost

per Mt sold for the

three months ended March

31,

2024, increased by $18.4 per Mt sold to $126.9 per Mt

sold, compared to the same period in 2023.

Segment Adjusted EBITDA decreased by $39.5

million, or 298.2%, to a

Segment Adjusted EBITDA loss of

$26.2

million for the three months ended March 31, 2024,

compared to $13.2 million for the three months ended March

31, 2023, largely driven by higher mining and operating

costs.

United States

Three months ended March 31,

2024

2023

Change

(in US$ thousands)

Sales volume (MMt)

1.2

1.5

(0.3)

(17.2)%

Total

revenues ($)

232,043

367,053

(135,010)

(36.8)%

Coal revenues ($)

205,396

347,541

(142,145)

(40.9)%

Average realized price per Mt sold ($/Mt)

167.8

235.1

(67.3)

(28.6)%

Met sales volume (MMt)

1.1

1.2

(0.1)

(5.2)%

Met coal revenues ($)

193,531

283,023

(89,492)

(31.6)%

Average realized Met price per Mt sold ($/Mt)

170.9

236.9

(66.0)

(27.9)%

Mining costs ($)

147,584

128,120

19,464

15.2%

Mining cost per Mt sold ($/Mt)

122.9

90.8

32.1

35.4%

Operating costs ($)

183,221

183,766

(545)

(0.3)%

Operating costs per Mt sold ($/Mt)

149.7

124.3

25.4

20.4%

Segment Adjusted EBITDA ($)

49,228

185,042

(135,814)

(73.4)%

Coal revenues

decreased by

$142.1 million,

or 40.9%,

to $205.4 million

for the

three months

ended March

31,

2024, compared to

$347.5 million for

the three months

ended March 31,

2023. This decrease

was driven by

lower

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

average realized Met price per Mt sold for the three months

ended March 31, 2024, $66.0 per Mt sold lower than

2023 period,

combined lower

sales volume

of 0.3

MMt. Lower

sales volume

were a

result of

lower production

caused

geological

issues

impacting

production

yield

our

Buchanan

mine

and

mechanical

issues

our

Logan mine resulting in production downtime.

Operating costs remained consistent for the three months ended March 31, 2024,

compared to the three months

ended March

31, 2023,

while mining

costs increased

by $19.5

million, or

15.2%. The

increase in

mining costs

was primarily driven by higher costs due to lower inventory built during the three months ended March 31,

2024,

compared

the

corresponding

period

2023,

combined

with

higher

unplanned

maintenance

costs

due

mechanical

issues. The

higher

mining costs

was

partially

offset

by lower

freight

expense

from lower

sales

FOB terms and lower royalties due to lower sales volumes.

Segment Adjusted

EBITDA of

$49.2 million

for the

three months

ended March

31, 2024,

decreased by

$135.8

million compared

to $185.0

million for

the three

months ended

March 31,

2023, primarily

driven by

lower coal

revenues and higher mining costs.

Corporate and Other Adjusted EBITDA

The following table presents a summary of the components

of Corporate and Other Adjusted EBITDA:

Three months ended March 31,

2024

2023

Change

(in US$ thousands)

Selling, general, and administrative expenses

8,815

7,774

1,041

13.4%

Other, net

(435)

(248)

(187)

n/m

Total

Corporate and Other Adjusted EBITDA

8,380

7,526

854

11.3%

n/m – Not meaningful for comparison.

Corporate and

other costs of

$8.8 million

for the three

months ended March

31, 2024, were

$1.0 million higher

compared to $7.8 million for the three months ended

March 31, 2023, due to timing of certain corporate costs.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Mining and

operating costs

for the

three months

ended March

31, 2024

compared to

three months

ended March 31, 2023

A reconciliation of

segment costs and

expenses, segment operating

costs, and segment

mining costs is

shown

below:

Three months ended March 31, 2024

(in US$ thousands)

Australia

United

States

Other /

Corporate

Total

Consolidated

Total costs and

expenses

483,672

207,346

9,100

700,118

Less: Selling, general and administrative

expense

(11)

—

(8,804)

(8,815)

Less: Depreciation, depletion and amortization

(20,928)

(24,125)

(296)

(45,349)

Total operating costs

462,733

183,221

—

645,954

Less: Other royalties

(75,987)

(9,173)

—

(85,160)

Less: Stanwell rebate

(31,451)

—

(31,451)

Less: Freight expenses

(33,461)

(23,361)

—

(56,822)

Less: Other non-mining costs

(3,970)

(3,103)

—

(7,073)

Total mining costs

317,864

147,584

—

465,448

Sales Volume excluding non-produced

coal

(MMt)

2.5

1.2

—

3.7

Mining cost per Mt sold ($/Mt)

126.9

122.9

—

125.6

Three months ended March 31, 2023

(in US$ thousands)

Australia

United

States

Other /

Corporate

Total

Consolidated

Total costs and

expenses

403,868

204,263

8,058

616,189

Less: Selling, general and administrative

expense

—

(7,774)

Less: Depreciation, depletion and amortization

(18,642)

(20,497)

(284)

(39,423)

Total operating costs

385,226

183,766

—

568,992

Less: Other royalties

(72,993)

(12,964)

—

(85,957)

Less: Stanwell rebate

(39,208)

—

(39,208)

Less: Freight expenses

(33,819)

(29,534)

—

(63,353)

Less: Other non-mining costs

(3,150)

(13,148)

—

(16,298)

Total mining costs

236,056

128,120

—

364,176

Sales Volume excluding non-produced

coal

(MMt)

2.2

1.4

—

3.6

Mining cost per Mt sold ($/Mt)

108.5

90.8

—

101.6

Average realized Met price per Mt sold for the three months ended March 31,

2024 compared to three

months ended March 31, 2023

A reconciliation of the Company’s average realized

Met price per Mt sold is shown below:

Three months ended March 31,

2024

2023

Change

(in US$ thousands)

Met sales volume (MMt)

2.9

2.7

0.2

7.7%

Met coal revenues ($)

601,834

655,542

(53,708)

(8.2)%

Average realized Met price per Mt sold ($/Mt)

204.3

239.7

(35.4)

(14.8)%

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Reconciliation of Non-GAAP Financial Measures

Adjusted EBITDA

Three months ended March 31,

(in US$ thousands)

2024

2023

Reconciliation to Adjusted EBITDA:

Net (loss) income

(29,001)

107,860

Add: Depreciation, depletion and amortization

45,349

39,423

Add: Interest expense (net of interest income)

13,329

14,665

Add: Other foreign exchange gains

(11,263)

(2,992)

Add: Income tax (benefit) expense

(4,112)

34,030

Add: Losses on idled assets

492

1,751

Add: Decrease in provision for discounting and credit losses

(173)

(3,988)

Adjusted EBITDA

14,621

190,749

Liquidity and Capital Resources

Overview

Our objective is

to maintain a

prudent capital structure

and to ensure

that sufficient

liquid assets and

funding is

available to meet both anticipated and

unanticipated financial obligations, including unforeseen events that could

have an

adverse impact

on revenues

or costs.

Our principal

sources of

funds are

cash and

cash equivalents,

cash flow from operations and availability under our debt

facilities.

Our main uses of cash have historically been, and are expected to continue to be, the funding of our

operations,

working capital,

capital

expenditure,

debt

service

obligations,

business

or assets

acquisitions

and

payment

dividends. Based

on our

outlook for

the next

twelve months,

which is

subject to

completion of

the SGI

Transaction,

continued changing

demand from

our customers,

volatility in

coal prices,

current and

future trade

barriers and

the

uncertainty

impacts

from

ongoing

civil

unrest

and

wars,

believe

expected

cash

generated

from

operations together with available borrowing facilities

and other strategic and financial

initiatives, will be sufficient

to meet

the needs

of our

existing operations,

capital expenditure,

service our

debt obligations

and, if

declared,

payment of dividends.

Under

the

Senior

Secured

Notes

Indenture,

upon

change

control,

are

required

make

offer

purchase the Notes from the holders at a

price of 101% of the principal amount thereof,

plus accrued and unpaid

interest.

Under

the

ABL

Facility,

change

control

constitutes

Review

Event

pursuant

which

the

Lenders

may

request to meet

and consult with

us to agree

a strategy to

address the relevant

Review Event including

but not

limited to

a restructure

of the

terms of

the ABL

Facility to the

satisfaction of the

Lenders. Refer to

Note 10.

“Interest

Bearing Liabilities” for further information.

Our ability to generate sufficient cash

depends on our future performance,

which may be subject to a number

factors

beyond

our

control,

including

general

economic,

financial

and

competitive

conditions

and

other

risks

described in this

document, and Part

I, Item 1A. “Risk

Factors” of our

Annual Report on

Form 10-K for the

year

ended December 31, 2023, filed with the SEC and ASX on

February 20, 2024.

Liquidity as of March 31, 2024 and December 31, 2023

was as follows:

(in US$ thousands)

March 31,

2024

December 31,

2023

Cash and cash equivalents, excluding restricted cash

224,693

339,043

Short term deposits

21,674

21,906

Availability under the ABL Facility

(1)

128,326

128,094

Total

374,693

489,043

(1)

The ABL

Facility provides

for up

to $150.0

million in

borrowings, including

a $100.0

million sublimit

for the

issuance of

letters of credit, of

which $21.7 million has

been issued as

of March 31,

2024, and a $70.0

million sublimit as a

revolving credit

facility.

The

letter

credit

sublimit

contributes

our

liquidity

the

Company

has

the

ability

replace

cash

collateral,

provided in the

form of restricted

deposits, with letters

of credit allowing

the release of

such restricted deposits

to cash and

cash equivalents.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Our total indebtedness as of March 31, 2024 and December 31,

2023 consisted of the following:

(in US$ thousands)

March 31,

2024

December 31,

2023

Current installments of interest bearing liabilities

242,326

Current installments of other financial liabilities and finance

lease obligations

2,784

2,893

Other financial liabilities and finance lease obligations, excluding

current

installments

4,354

5,307

Total

249,464

250,526

Liquidity

As of March 31, 2024,

available liquidity was $374.7 million, comprised of cash

and cash equivalents (excluding

restricted cash) of $224.7 million,

unrestricted short-term deposits of $21.7 million and

$128.3 million of available

borrowings under our ABL Facility.

December

31,

2023,

available

liquidity

was

$489.0

million,

comprised

cash

and

cash

equivalents

(excluding

restricted

cash)

$339.0

million

and

unrestricted

short-term

deposits

$21.9

million

and

$128.1

million of available borrowings under our ABL Facility.

Cash and cash equivalents

Cash

and

cash

equivalents

are

held

multicurrency

interest

bearing

bank

accounts

available

used

service

the

working

capital

needs

the

Company.

Cash

balances

surplus

immediate

working

capital

requirements

are

invested

short-term

interest-bearing

deposit

accounts

used

repay

interest

bearing

liabilities.

Senior Secured Notes

As of March 31, 2024, the outstanding principal amount of our Notes was $242.3 million.

Interest on the Notes is

payable semi-annually in arrears on May 15 and November 15 of each year. The Notes mature on May 15,

2026

and are senior secured obligations of the Company.

The Notes are guaranteed

on a senior secured

basis by the Company

and its wholly-owned

subsidiaries (other

than

the

Issuer)

(subject

certain

exceptions

and

permitted

liens)

and

secured

(i)

first-priority

lien

substantially all of the Company’s assets and the assets of the other guarantors (other than

accounts receivable

and other rights to payment,

inventory,

intercompany indebtedness, certain

general intangibles and commercial

tort claims, commodities accounts, deposit accounts, securities accounts and other related assets and proceeds

and

products

each

the

foregoing,

or,

collectively,

the

ABL

Collateral),

the

Notes

Collateral,

and

(ii)

second-priority lien on the ABL Collateral, which is

junior to a first-priority lien, for the

benefit of the lenders under

the ABL Facility.

The terms

of the

Notes are

governed

by the

Indenture.

The Indenture

contains

customary

covenants

for high

yield bonds, including,

but not limited

to, limitations on

investments, liens, indebtedness,

asset sales, transactions

with affiliates and restricted payments, including

payment of dividends on capital stock.

The Company may

redeem some or

all of the

Notes at the

redemption prices and

on the terms

specified in the

Indenture. In addition, the Company may,

from time to time, seek to retire or purchase outstanding

debt through

open-market purchases,

privately negotiated

transactions or

otherwise. Such

repurchases,

if any,

will be

upon

such terms and at such prices as the Company may determine, and will depend on prevailing market conditions,

liquidity requirements, contractual restrictions and other

factors.

Based on information that

we are currently aware

of, on completion of

the SGI Transaction, a “Change

of Control”

as defined under

the terms of

the Notes may

occur. Refer to Part

I, Item

I. Financial Statements,

Note 10. “Interest

Bearing Liabilities” for further information.

As of March 31, 2024, we were in compliance with all

applicable covenants under the Indenture.

ABL Facility

The ABL Facility matures in August 2026 and provides for up to $150.0 million in borrowings, including a $100.0

million

sublimit

for

the

issuance

letters

credit

and

$70.0

million

sublimit

revolving

credit

facility.

Availability

under

the

ABL

Facility

limited

eligible

borrowing

base,

determined

applying

customary

advance rates to eligible accounts receivable and inventory.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Borrowings under the ABL Facility bear

interest at a rate

per annum equal to applicable

rate of 2.80% and BBSY,

for loans denominated in A$, or SOFR, for loans denominated

in US$, at the Borrower’s election.

Subject to customary grace periods and notice requirements, the ABL Facility also contains customary events of

default.

Based on information

that we are

currently aware of,

on completion of

the SGI Transaction,

a “Change of

Control”

as defined under the terms of the ABL

Facility may occur.

Refer to Part I, Item I. Financial Statements,

Note 10.

“Interest Bearing Liabilities” for further information.

As at March 31,

2024, letter of

credit sublimit had

been partially used to

issue $21.7

million of bank

guarantees

behalf

the

Company

and

amounts

were

drawn

and

letters

credit

were

outstanding

under

the

revolving credit sublimit

of ABL Facility. As

at March 31,

2024, the Company

was in compliance

with all applicable

covenants under the ABL Facility.

Surety Bonds, letters of credit and bank guarantees

are

required

provide

financial

assurances

and

securities

satisfy

contractual

and

other

requirements

generated in the

normal course of

business. Some of

these assurances are provided

to comply with

state or other

government agencies’ statutes and regulations.

For

the

U.S.

Operations

order

provide

the

required

financial

assurance

for

post

mining

reclamation,

generally

use

surety

bonds.

use

surety

bonds

and

bank

letters

credit

collateralize

certain

other

obligations including contractual obligations under workers’ compensation insurances. As of March 31, 2024, we

had outstanding surety bonds of $46.7 million and

letters of credit of $16.8 million issued from

our available bank

guarantees under the ABL Facility.

For

the

Australian

Operations

March

31,

2024,

have

bank

guarantees

outstanding

$24.2

million,

including $4.9

million issued

from the

ABL Facility,

primarily in

respect of

certain rail

and port

arrangements of

the Company.

As at March 31, 2024, we have

in aggregate had total outstanding

bank guarantees provided of $41.0

million to

secure its obligations and commitments, including $21.7 million

issued for the ABL Facility.

Future regulatory changes

relating to these

obligations could result

in increased obligations,

additional costs or

additional collateral requirements.

Restricted deposits – cash collateral

As required by certain agreements, we have cash collateral in the

form of deposits in the amount of $68.9 million

March

31,

2024

provide

back-to-back

support

for

bank

guarantees,

financial

payments,

other

performance

obligations,

various

other

operating

agreements

and

contractual

obligations

under

workers

compensation

insurance.

These

deposits

are

restricted

and

classified

long-term

assets

the

unaudited

Condensed Consolidated Balance Sheets.

In accordance with the terms of the ABL Facility, we may be required to cash collateralize the ABL Facility to the

extent

outstanding

letters

credit

after

the

expiration

termination

date

such

letter

credit

after

the

expiration or

termination date

of such

letter of

credit. As

of March

31, 2024,

no letter

of credit

was outstanding

after the expiration or termination date and no cash collateral

was required.

Dividend

On February 19,

2024, our Board

of Directors declared

a bi-annual fully

franked fixed ordinary

dividend of $8.4

million, or 0.5

cents per CDI.

On April

4, 2024, the

Company paid $8.3

million, net of

$0.1 million foreign

exchange

gain on payment of dividends to certain CDI holders

who elected to be paid in Australian dollars.

Capital Requirements

Our main uses of cash have historically been the

funding of our operations, working capital, capital expenditure,

the payment of

interest and dividends.

We intend

to use cash

to fund debt

service payments

on our Notes,

the

ABL Facility and our

other indebtedness, to fund operating

activities, working capital, capital expenditures, partial

redemption of the Notes, business or assets acquisitions

and, if declared, payment of dividends.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Historical Cash Flows

The following table

summarizes our cash

flows for the

three months ended

March 31, 2024

and 2023, as

reported

in the accompanying consolidated financial statements:

Cash Flow

Three months ended March 31,

(in US$ thousands)

2024

2023

Net cash (used in) provided by operating activities

(53,776)

223,626

Net cash used in investing activities

(55,312)

(54,147)

Net cash used in financing activities

(857)

(951)

Net change in cash and cash equivalents

(109,945)

168,528

Effect of exchange rate changes on cash and restricted

cash

(4,406)

(4,857)

Cash and cash equivalents at beginning of period

339,295

334,629

Cash and cash equivalents at end of period

224,944

498,300

Operating activities

Net cash used in operating activities was $53.8 million for the three months ended March 31, 2024, compared to

net

cash

provided

operating

activities

$223.6

million

for

the

three

months

ended

March

31,

2023.

The

decrease in cash from operating activities was driven by the lower coal revenues, higher operating costs and

the

additional payment of $51.5 million, including tax interest,

in relation to the stamp duty on Curragh’s

acquisition.

Investing activities

Net cash used in investing activities was $55.3 million

for the three months ended March 31, 2024, compared to

$54.1 million

for the

three months ended

March 31,

2023. Cash

spent on

capital expenditures for

the three

months

ended March

31, 2024

was $54.9

million, of

which $10.1

million was

to the

Australian Operations

and

$44.9 million was related to the U.S. Operations.

Financing activities

Net cash used

in financing activities

was $0.8 million

for the three

months ended March

31, 2024, compared

cash used in

financing activities

of $1.0 million

for the three

months ended March

31, 2023. The

net cash used

in financing activities for

the three months ended

March 31, 2024 largely

related to repayment of

other financial

liabilities.

Contractual Obligations

There were no

material changes

to our contractual

obligations from

the information

previously provided

in Item

“Management’s

Discussion

and

Analysis

Financial

Conditions

and

Results

Operations”

our

Annual

Report on Form 10-K for the year ended December 31, 2023, filed with the SEC and

ASX on February 20, 2024.

Critical Accounting Policies and Estimates

The preparation

our

financial

statements

conformity

with

U.S. GAAP

requires

us to

make

estimates

and

assumptions that affect the

reported amounts of assets and liabilities

at the date of the financial statements

and

the reported

amounts of

revenue and

expenses during

the reporting

period. On

an ongoing basis,

we evaluate

our estimates. Our estimates are

based on historical experience

and various other assumptions

that we believe

are appropriate,

the results

of which form

the basis

for making

judgements about

the carrying values

of assets

and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. All

of these accounting estimates and assumptions, as well as the resulting impact to

our financial statements, have

been discussed with the Audit Committee of our Board

of Directors.

Our

critical

accounting

policies

are discussed

Item

7. “Management’s

Discussion

and

Analysis

of Financial

Condition and Results of

Operations” of our Annual

Report on Form 10-K for

the year ended December

31, 2023,

filed with the SEC and ASX on February 20, 2024.

Newly Adopted Accounting Standards and Accounting

Standards Not Yet Implemented

See

Note

(a)

“Newly

Adopted

Accounting

Standards”

our

unaudited

condensed

consolidated

financial

statements

for

discussion

newly

adopted

accounting

standards.

March

31,

2024,

there

were

accounting standards not yet implemented.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

ITEM 3.

QUANTITATIVE

AND QUALITATIVE

DISCLOSURES ABOUT MARKET RISK

Our activities

expose us

a variety

of financial

risks, such

as commodity

price risk,

interest rate

risk, foreign

currency risk, liquidity risk and credit

risk. The overall risk management objective is

to minimize potential adverse

effects on our financial performance from those

risks which are not coal price related.

We manage

financial risk

through policies

and procedures

approved by

our Board

of Directors.

These specify

the responsibility

of the

Board

of Directors

and

management

with regard

to the

management

of financial

risk.

Financial risks are

managed centrally by

our finance

team under the

direction of the

Group Chief Financial

Officer.

The finance team manages risk exposures primarily through delegated authority limits approved

by the Board of

Directors. The finance team regularly monitors

our exposure to these financial risks and reports

to management

and

the

Board

Directors

regular

basis.

Policies

are

reviewed

least

annually

and

amended

where

appropriate.

We may use

derivative financial instruments such

as forward fixed

price commodity contracts, interest

rate swaps

and

foreign

exchange

rate

contracts

hedge

certain

risk

exposures.

Derivatives

for

speculative

purposes

strictly prohibited by the Treasury Risk Management Policy approved by our Board of

Directors. We use different

methods

measure

the

extent

which

are

exposed

various

financial

risks.

These

methods

include

sensitivity analysis

in the

case of

interest rates,

foreign exchange

and other

price risks

and aging

analysis for

credit risk.

Commodity Price Risk

Coal Price Risk

are

exposed

domestic

and

global

coal

prices.

Our

principal

philosophy

that

our

investors

would

not

consider hedging coal prices to be in the long-term interest of

our stockholders. Therefore, any potential hedging

of coal

prices

through

long-term

fixed price

contracts

is subject

to the

approval

of our

Board

of Directors

and

would only be adopted in exceptional circumstances.

The

expectation

future

prices

for

coal

depends

upon

many

factors

beyond

our

control.

Met

coal

has

been

volatile commodity over the

past ten years. The

demand and supply in the

Met coal industry changes

from time

time.

There

are

assurances

that

oversupply

will

not

occur,

that

demand

will

not

decrease

that

overcapacity will not occur, which could cause

declines in the prices of

coal, which could have a

material adverse

effect on our financial condition and results

of operations.

Access to

international markets

may be

subject to

ongoing interruptions

and trade

barriers due

to policies

and

tariffs

individual

countries.

may

not

able

access

alternate

markets

our

coal

should

interruptions

trade

barriers

occur

the

future.

inability

for

metallurgical

coal

suppliers

access

international markets would likely result

in an oversupply of Met coal and

may result in a decrease in prices

and

or the curtailment of production.

We manage

our commodity

price risk

for our non-trading,

thermal coal

sales through

the use

of long-term

coal

supply agreements in our

U.S. Operations. In Australia, thermal

coal is sold

to Stanwell on a

supply contract. See

Item

1A.

“Risk

Factors—Risks

the

Supply

Deed

with

Stanwell

may

adversely

affect

our

financial

condition and results of operations” in our Annual Report on Form 10-K filed with the SEC and ASX on February

20, 2024.

Sales commitments in the

Met coal market are typically

not long-term in nature,

and we are therefore subject

fluctuations in

market pricing.

Certain coal

sales are

provisionally priced

initially.

Provisionally priced

sales are

those for which price finalization,

referenced to the relevant index,

is outstanding at the reporting

date. The final

sales price is determined within 7 to 90 days after delivery to the customer.

As of March 31, 2024, we had $25.6

million

outstanding

provisionally

priced receivables

subject

to changes

the

relevant

price

index.

prices

decreased

10%,

these

provisionally

priced

receivables

would

decrease

$2.6

million.

See

Item

1A.

“Risk

Factors—Our profitability

depends upon

the prices

we receive

for our

coal. Prices

for coal

are volatile

and can

fluctuate widely

based upon

a number

of factors

beyond our

control” in

our Annual

Report on

Form 10-K

filed

with the SEC and ASX on February 20, 2024.

Diesel Fuel

We may

be exposed

to price

risk in

relation to

other commodities

from time

to time

arising from

raw materials

used in our

operations (such

as gas

or diesel).

The expectation

of future

prices for

diesel depends

upon many

factors

beyond

our

control.

The

current

Israel-Palestine

conflict

could

create

significant

uncertainty

regarding

interruptions to global oil supply causing significant

volatility in prices of related commodities,

including the price

of diesel fuel we

purchase. These commodities

may be hedged

through financial instruments

if the exposure

considered material and where the exposure cannot be

mitigated through fixed price supply agreements.

The fuel

required

for

our operations

for

the remainder

of fiscal

year

2024

will

purchased

under

fixed-price

contracts or on a spot basis.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Interest Rate Risk

Interest rate risk is the risk that a change in interest rates

on our borrowing facilities will have an adverse impact

our

financial

performance,

investment

decisions

and

stockholder

return.

Our

objectives

managing

our

exposure

interest

rates

include

minimizing

interest

costs

the

long

term,

providing

reliable

estimate

interest costs for the

annual work program

and budget and ensuring

that changes in interest

rates will not have

a material impact on our financial performance.

As of March 31, 2024, we had $249.5 million of fixed rate borrowings and Notes and no variable-rate borrowings

outstanding.

We currently do not hedge against interest rate

fluctuations.

Foreign Exchange Risk

A significant portion of our

sales are denominated in US$.

Foreign exchange risk is

the risk that our earnings

cash flows are adversely impacted by movements in exchange

rates of currencies that are not in US$.

Our main exposure

is to the

A$-US$ exchange rate

through our Australian

Operations, which have

predominantly

A$ denominated costs. Greater than 70% of expenses incurred at our Australian Operations are denominated in

A$. Approximately 30%

of our Australian Operations’ purchases are

made with reference to US$,

which provides

a natural hedge against foreign

exchange movements on these

purchases (including fuel, several

port handling

charges, demurrage,

purchased coal

and some

insurance premiums).

Appreciation of

the A$

against US$

will

increase our Australian

Operations’ US$ reported

cost base and

reduce US$ reported

net income. For

the portion

of US$ required to purchase A$ to settle our Australian Operations’ operating costs, a 10% increase in the A$ to

US$ exchange rate

would increase reported

total costs and

expenses by approximately

$33.7 million for

the three

months ended March 31, 2024, respectively.

Under normal market conditions, we generally do not consider it necessary to hedge our

exposure to this foreign

exchange risk.

However,

there

may be

specific commercial

circumstances,

such

as the

hedging

of significant

capital

expenditure,

acquisitions,

disposals

and

other

financial

transactions,

where

may

deem

foreign

exchange hedging

as appropriate

and

where a

US$ contract

cannot

be negotiated

directly with

suppliers

and

other third parties.

For our

Australian Operations,

we translate

all monetary

assets and

liabilities at the

period end

exchange rate,

all non-monetary

assets and

liabilities at

historical

rates

and revenue

and expenses

at the

average exchange

rates in effect during

the periods. The net

effect of these

translation adjustments is

shown in the accompanying

Consolidated Financial Statements within components

of net income.

We currently do not hedge our non-US$ exposures

against exchange rate fluctuations.

Credit Risk

Credit risk is the risk of

sustaining a financial loss

as a result of a counterparty

not meeting its obligations

under

a financial instrument or customer contract.

We are exposed

to credit risk

when we have financial

derivatives, cash deposits,

lines of credit, letters

of credit

or bank guarantees

in place with

financial institutions.

mitigate against credit risk

from financial counterparties,

we have minimum credit rating requirements with financial

institutions where we transact.

are

also

exposed

counterparty

credit

risk

arising

from

our

operating

activities,

primarily

from

trade

receivables. Customers who wish to trade

on credit terms are subject to credit

verification procedures, including

an assessment of their independent credit rating, financial position, past experience and industry reputation.

monitor the financial performance

of counterparties on a routine

basis to ensure credit

thresholds are achieved.

Where required, we will request additional credit

support, such as letters of credit,

to mitigate against credit risk.

Credit

risk

monitored

regularly,

and

performance

reports

are

provided

our

management

and

Board

Directors.

As of March 31, 2024, we had financial assets of $617.7 million, comprising

of cash and cash equivalents, trade

receivables, short-term

deposits and

restricted

deposits,

which are

exposed to

counterparty

credit risk.

These

financial assets have been assessed under ASC 326,

Financial Instruments – Credit Losses

, and a provision for

discounting and credit losses of $0.7 million was recorded

as of March 31, 2024.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

ITEM 4.

CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

maintain

disclosure

controls

and

procedures

that

are

designed

ensure

that

information

required

disclosed in our Exchange Act reports is recorded, processed, summarized and

reported within the time periods

specified

the

SEC’s

rules

and

forms,

and

that

such

information

accumulated

and

communicated

our

management, including the

Chief Executive Officer

and the Group

Chief Financial Officer, as appropriate,

to allow

timely

decisions

regarding

required

disclosure

based

solely

the

definition

“disclosure

controls

and

procedures” in Rule 13a-15(e) promulgated under the

Exchange Act. In designing and evaluating the disclosure

controls

and

procedures,

management

recognized

that

any

controls

and

procedures,

matter

how

well

designed and operated, can provide only reasonable

assurance of achieving the desired control

objectives, and

management necessarily was

required to apply

its judgment in

evaluating the cost-benefit

relationship of possible

controls and procedures.

As of the end

of the period

covered by this Quarterly

Report on Form

10-Q, we carried

out an evaluation

under

the supervision and

with the participation

of our

management, including the

Chief Executive Officer

and the

Group

Chief Financial

Officer, of the effectiveness of

the design and

operation of

our disclosure controls

and procedures.

Based on

the foregoing,

the

Chief Executive

Officer

and the

Group Chief

Financial

Officer

concluded

that our

disclosure controls and procedures were effective.

Changes to Internal Control over Financial Reporting

During the

fiscal quarter covered

by this

Quarterly Report on

Form 10-Q,

there were

no changes

in the

Company's

internal

control

over

financial

reporting,

such

term

defined

Rule

13a-15(f)

the

Exchange

Act,

that

materially

affected,

are

reasonably

likely

materially

affect,

the

Company’s

internal

control

over

financial

reporting.

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

PART II – OTHER

INFORMATION

ITEM 1.

LEGAL PROCEEDINGS

We are subject to various legal and

regulatory proceedings. For a description of our significant legal

proceedings

refer

Note 16. “Contingencies” to

the

unaudited

condensed

consolidated

financial

statements

included

Part I, Item 1. “Financial

Statements” of

this Quarterly

Report on

Form 10-Q,

which information

is incorporated

by reference herein.

ITEM 1A.

RISK FACTORS

There were no material changes

to the risk factors previously

disclosed in Part I, Item

1A, “Risk Factors”, of our

Annual Report

on Form 10-K

for the year

ended December

31, 2023, filed

with the SEC

and ASX on

February

20, 2024.

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES

AND USE OF PROCEEDS

None.

ITEM 3.

DEFAULTS

UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Safety is the cornerstone of the Company’s values and is the number one priority

for all employees at Coronado

Global Resources Inc.

Our U.S. Operations

include multiple mining

complexes across

three states and

are regulated by

both the U.S.

Mine Safety

and Health

Administration, or

MSHA, and

state regulatory

agencies. Under

regulations mandated

by the Federal Mine Safety and Health Act of 1977, or the Mine Act, MSHA inspects our U.S. mines on a regular

basis and issues various citations and orders when it believes

a violation has occurred under the Mine Act.

In accordance

with

Section 1503(a) of

the

Dodd-Frank

Wall

Street

Reform

and

Consumer

Protection

Act

and

Item

104

Regulation

S-K

(17

CFR

229.104),

each

operator

coal

other

mine in

the

United

States

required to report certain mine safety results

in its periodic reports filed with the SEC under the

Exchange Act.

Information

pertaining

mine

safety

matters

included

Exhibit 95.1

attached

this

Quarterly

Report

Form 10-Q. The disclosures reflect the United

States mining operations only, as these requirements do not

apply

to our mines operated outside the United States.

ITEM 5.

OTHER INFORMATION

During the quarter

ended March 31,

2024, no director

or officer (as

defined in Rule 16a-1(f)

promulgated under

the Exchange

Act)

of the

Company

adopted

terminated

a “Rule

10b5-1

trading arrangement”

or “

non-Rule

10b5-1

trading arrangement” (as each term is defined in Item

408 of Regulation S-K).

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

ITEM 6.

EXHIBITS

The following documents are filed as exhibits hereto:

Exhibit No.

Description of Document

3.1

Amended and Restated Certificate of Incorporation (filed as Exhibit 3.1 to the Company’s

Registration Statement on Form 10 (File No. 000-56044) filed on April 29, 2019 and incorporated

herein by reference)

3.2

Amended and Restated By-Laws (filed as Exhibit 3.2 to the Company’s Registration Statement

on Form 10 (File No. 000-56044) filed on April 29, 2019 and incorporated herein by reference)

15.1

Acknowledgement of Independent Registered Public Accounting Firm

31.1

Certification of the Chief Executive Officer pursuant to SEC Rules 13a-14(a) or 15d-14(a)

adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2

Certification of the Group Chief Financial Officer pursuant to SEC Rules 13a-14(a) or 15d-14(a)

adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1

Certification pursuant to 18 U.S.C. Section 1350, adopted pursuant to Section 906 of the

Sarbanes-Oxley Act of 2002

95.1

Mine Safety Disclosures

101.INS

Inline XBRL Instance Document

101.SCH

Inline XBRL Taxonomy

Extension Schema Document

101.CAL

Inline XBRL Taxonomy

Extension Calculation Linkbase Document

101.DEF

Inline XBRL Taxonomy

Extension Definition Linkbase Document

101.LAB

Inline XBRL Taxonomy

Extension Label Linkbase Document

101.PRE

Inline XBRL Taxonomy

Extension Presentation Linkbase Document

104

Cover Page Interactive Data File (formatted as Inline

XBRL and contained in Exhibit 101)

Table of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

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, thereunto

duly authorized.

Coronado Global Resources Inc.

By:

/s/ Gerhard Ziems

Gerhard Ziems

Group Chief Financial Officer (as duly authorized officer

and as principal financial officer of the registrant)

Date: May 6, 2024

Table

of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

EXHIBIT 15.1

ACKNOWLEDGMENT OF ERNST & YOUNG,

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

the Stockholders and Board of Directors of Coronado Global

Resources Inc.

are

aware

the

incorporation

reference

the

following

Registration

Statements

(including

all

amendments thereto):

Registration Statement (Form S-3 No. 333-239730) of

Coronado Global Resources Inc.;

Registration Statement

(Form S-8

No. 333-236597)

pertaining to

the Coronado

Global Resources

Inc.

2018 Equity Incentive Plan and the Coronado Global Resources Inc. 2018 Non-Executive Director Plan;

Registration Statement

(Form S-8

No. 333-249566)

pertaining to

the Coronado

Global Resources

Inc.

2018 Equity Incentive Plan; and

Registration Statement

(Form S-8

No. 333-275748)

pertaining to

the Coronado

Global Resources

Inc.

Employee Stock Purchase Plan

our

review

report

dated May

2024, relating

the

unaudited

condensed

consolidated

interim

financial

statements of

Coronado Global

Resources Inc.

that are

included in

its Form

10-Q for

the quarter

ended March

31, 2024.

/s/ Ernst & Young

Brisbane, Australia

May 6, 2024

Table

of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

EXHIBIT 31.1

CERTIFICATION

I, Douglas Thompson,

certify that:

1. I have reviewed this quarterly report on Form 10-Q

of Coronado Global Resources Inc.;

2. Based on my

knowledge, this report

does not contain

any untrue statement

of a material fact

or omit to state

material

fact

necessary

make

the

statements

made,

light

the

circumstances

under

which

such

statements were made, not misleading with respect to the period

covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly

present in

all material

respects the

financial condition,

results of

operations and

cash flows

of the

registrant as

of, and for, the periods presented

in this report;

4. The

registrant’s other certifying

officer and I

are responsible

for establishing and

maintaining disclosure

controls

and procedures (as defined in Exchange Act Rules 13a-15(e)

and 15d-15(e)) for the registrant and have:

(a) designed

such

disclosure

controls

and

procedures,

caused

such

disclosure

controls

and

procedures

designed

under

our

supervision,

ensure

that

material

information

relating

the

registrant, including

its consolidated

subsidiaries, is

made known

to us

by others

within those

entities,

particularly during the period in which this report is being prepared;

(b) designed such internal control

over financial reporting, or

caused such internal control

over financial

reporting to be designed under our

supervision, to provide reasonable assurance regarding the reliability

of financial reporting

and the preparation

of financial statements

for external purposes in

accordance with

generally accepted accounting principles;

effectiveness

of the

registrant’s

disclosure controls

and procedures

and presented

this report our

conclusions about

the effectiveness

of the disclosure

controls and

procedures, as of

the

end of the period covered by this report based on such

evaluation; and

(d) disclosed

this

report

any

change

the

registrant’s

internal

control

over

financial

reporting

that

occurred during the

registrant’s most recent fiscal

quarter (the registrant’s fourth

fiscal quarter in

the case

of an

annual report) that

has materially affected,

or is reasonably

likely to materially

affect, the registrant’s

internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have

disclosed, based on our most

recent evaluation of internal

control over

financial reporting,

to the

registrant’s

auditors and

the audit

committee of

the registrant’s

board of

directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in

the design or operation of internal

control over

financial

reporting

which

are

reasonably

likely

adversely

affect

the

registrant’s

ability

record,

process, summarize and report financial information; and

(b) Any

fraud,

whether

not

material,

that

involves

management

other

employees

who

have

significant role in the registrant’s internal control over financial

reporting.

Date: May 6, 2024.

/s/ Douglas Thompson

Douglas Thompson

Managing Director and Chief Executive Officer

Table

of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

EXHIBIT 31.2

CERTIFICATION

I, Gerhard Ziems, certify that:

1. I have reviewed this quarterly report on Form 10-Q

of Coronado Global Resources Inc.;

2. Based on my

knowledge, this report

does not contain

any untrue statement

of a material fact

or omit to state

material

fact

necessary

make

the

statements

made,

light

the

circumstances

under

which

such

statements were made, not misleading with respect to the period

covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly

present in

all material

respects the

financial condition,

results of

operations and

cash flows

of the

registrant as

of, and for, the periods presented

in this report;

4. The

registrant’s other certifying

officer and I

are responsible

for establishing and

maintaining disclosure

controls

and procedures (as defined in Exchange Act Rules 13a-15(e)

and 15d-15(e)) for the registrant and have:

(a) designed

such

disclosure

controls

and

procedures,

caused

such

disclosure

controls

and

procedures

designed

under

our

supervision,

ensure

that

material

information

relating

the

registrant, including

its consolidated

subsidiaries, is

made known

to us

by others

within those

entities,

particularly during the period in which this report is being prepared;

(b) designed such internal control

over financial reporting, or

caused such internal control

over financial

reporting to be designed under our

supervision, to provide reasonable assurance regarding the reliability

of financial reporting

and the preparation

of financial statements

for external purposes in

accordance with

generally accepted accounting principles;

effectiveness

of the

registrant’s

disclosure controls

and procedures

and presented

this report our

conclusions about

the effectiveness

of the disclosure

controls and

procedures, as of

the

end of the period covered by this report based on such

evaluation; and

(d) disclosed

this

report

any

change

the

registrant’s

internal

control

over

financial

reporting

that

occurred during the

registrant’s most recent fiscal

quarter (the registrant’s fourth

fiscal quarter in

the case

of an

annual report) that

has materially affected,

or is reasonably

likely to materially

affect, the registrant’s

internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have

disclosed, based on our most

recent evaluation of internal

control over

financial reporting,

to the

registrant’s

auditors and

the audit

committee of

the registrant’s

board of

directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in

the design or operation of internal

control over

financial

reporting

which

are

reasonably

likely

adversely

affect

the

registrant’s

ability

record,

process, summarize and report financial information; and

(b) Any

fraud,

whether

not

material,

that

involves

management

other

employees

who

have

significant role in the registrant’s internal control over financial

reporting.

Date: May 6, 2024.

/s/ Gerhard Ziems

Gerhard Ziems

Group Chief Financial Officer

Table

of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

EXHIBIT 32.1

CERTIFICATIONS

PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF

2002

In connection with

the Quarterly

Report of Coronado

Global Resources Inc.

(the “Company”)

on Form 10-Q

for

the quarterly period

ended March 31,

2024, as filed

with the Securities

and Exchange Commission

on the date

hereof

(the

“Report”),

each

the

undersigned

officers

the

company

certifies,

pursuant

U.S.C.

Section 1350,

adopted

pursuant

Section 906

the

Sarbanes-Oxley

Act

2002,

that,

such

officer’s

knowledge:

The Report

fully complies

with the

requirements of

Section 13(a) or 15(d) of

the Securities

Exchange

Act of 1934; and

The information contained

in the Report fairly

presents, in all material

respects, the financial

condition

and results of operations of the Company as of the dates

and for the periods expressed in the Report.

/s/ Douglas Thompson

Douglas Thompson

Managing Director and Chief Executive Officer

/s/ Gerhard Ziems

Gerhard Ziems

Group Chief Financial Officer

Date: May 6, 2024.

The foregoing certification is being furnished

solely pursuant to 18 U.S.C. Section

1350 and is not being filed as

part of the Report or as a separate disclosure document.

A signed

original of

this written

statement required

by Section 906

has been

provided to

the Company

and will

be retained by the Company and furnished to the Securities

and Exchange Commission or its staff on request.

Table

of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Exhibit 95.1

Mine Safety Disclosures

Safety is

the cornerstone

of our

Company’s

values and

is the

number one

priority for

all employees

at Coronado

Global Resources.

Our mining

operation at

Curragh,

located in Australia, is subject to regulation by the Queensland Department of Natural Resources, Mine and Energy, or DNRME, under the Coal Mining Safety and Health

Act 1999 (Qld). The operation of our mines located

in the United States is subject to regulation by

the Mine Safety and Health Administration, or MSHA, under the

Federal

Mine Safety and Health Act

of 1977, or the Mine

Act. MSHA inspects these

mines on a regular basis

and issues various citations

and orders when it believes

a violation

has occurred

under the

Mine Act.

We present

information below

regarding certain

mining safety

and health

citations that

MSHA has

issued with

respect to

our mining

operations. In evaluating

this information, consideration

should be given

to factors

such as: (i)

the number of

citations and orders

will vary

depending on the

size of the

mine; (ii) the

number of citations

issued will vary

from inspector to

inspector and mine

to mine; and

(iii) citations and

orders can be

contested and appealed

and, in that

process, are often reduced

in severity and amount,

and are sometimes dismissed.

Since MSHA is a

branch of the U.S. Department

of Labor,

its jurisdiction only applies

to our operations in the United States.

As such, the mine safety disclosures included herein do

not contain information related to our Australian mines.

Under the Dodd-Frank

Act, each operator

of a coal or

other mine is required

to include certain

mine safety results

within its periodic

reports filed with

the Securities and

Exchange Commission,

or the

SEC. As

required

by the

reporting requirements

included

in §1503(a)

of the

Dodd-Frank

Act and

Item

104 of

Regulation

S-K (17

CFR

229.104), we present

the following

items regarding certain

mining safety and

health matters,

for the quarter

ended March 31,

2024, for

each of our

U.S. mine

locations

that are covered

under the scope of the Dodd-Frank Act.

The table that follows

reflects citations and orders

issued to us by MSHA

during the quarter ended

March 31, 2024.

The table only includes

those U.S. mines that

were

issued orders

or citations

during this

period, and commensurate

with SEC regulations,

does not

reflect orders

or citations

issued to independent

contractors working

our mines.

The proposed assessments for the quarter ended March 31,

2024, were retrieved from the MSHA Data Retrieval System, or

MSHA DRS, as of April 1, 2024.

(A)

(B)

(C)

(D)

(E)

(F)

(G)

MSHA Mine

ID No.

Mine Name (1)(2)(3)

Section

104

S&S

Citations

Section

104(b)

Orders

Section 104(d

)

Citations and

Orders

Section 110(b)(2)

Violations

Section

107(a)

Orders

Total Dollar Value of

MSHA Assessments

Proposed

($ Thousands)

Total Number of

Mining Related

Fatalities

4404856

Buchanan Mine #1

—

$31.0

—

4602140

Saunders Prep Plant

—

$0.6

—

4609217

Powellton #1 Mine

—

$1.0

—

4609319

Lower War Eagle

—

$16.0

—

4609563

Eagle No. 1 Mine

—

$10.3

—

4609564

Elklick Surface Mine

—

4609583

North Fork Winifrede Deep Mine

—

$4.0

—

4609514

Muddy Bridge

—

$16.6

—

4609125

Mountaineer Pocahontas No. 1

Prep Plant

—

$0.1

—

4609645

Middle Fork Surfac

—

Total:

—

$79.6

—

Table

of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

(1)

The definition of “mine”

under Section 3

of the Mine Act

includes the mine, as

well as other items

used in, or to

be used in, or

resulting from, the

work of extracting

coal, such

as land,

structures, facilities,

equipment, machines,

tools and

coal preparation

facilities. Also,

there are

instances where

the mine

name per

the MSHA

system differs from the mine name utilized by us.

(2)

Idle facilities are

not included in

the table above

unless they received

a citation,

order or assessment

by MSHA during

the current quarterly

reporting period or

are

subject to pending legal actions.

(3)

During the quarter ended

March 31, 2024, none

of the Company’s

mines have received written

notice from MSHA

of a pattern of

violations or the potential

to have

such a pattern of violations of mandatory health or safety standards that are of such nature as

could have significantly and substantially contributed to the cause and

effect of coal or other mine health or safety standards

under section 104(e) of the Mine Act.

References used in the table above are as follows:

The total

number of

violations of

mandatory health

or safety

standards that

could significantly

and substantially

contribute to

the cause

and effect

of a

coal or

other mine safety or health hazard under section 104 of

the Mine Act (30 U.S.C. 814) for which the operator received

a citation from MSHA.

The total number of orders issued under section 104(b)

of the Mine Act (30 U.S.C. 814(b)).

The total number of citations and orders for unwarrantable failure of the mine operator to comply with mandatory health or safety standards under section 104(d)

of the Mine Act (30 U.S.C. 814(d)).

The total number of flagrant violations under section

110(b)(2) of the

Mine Act.

The total number of imminent danger orders issued under section

107(a) of the Mine Act (30 U.S.C. 817(a)).

The total dollar value of proposed assessments from MSHA

under the Mine Act (30 U.S.C. 801 et seq.).

The total number of mining-related fatalities.

The table below presents legal actions pending before the Federal Mine Safety

and Health Review Commission, or FMSHRC, for each of

the Company’s U.S. mines as

of March 31, 2024, together with the number of legal actions

initiated and the number of legal actions resolved during

the quarter ended March 31, 2024.

Table

of Contents

Coronado Global Resources Inc.

Form 10-Q March 31, 2024

Legal Actions Pending as of Last Day

of Quarter (March 31, 2024)

(1)

MSHA

Mine ID

No.

Mine Name

Contests of

Citations

and Orders

(Subpart B)

Contests of

Proposed

Penalties

(Subpart C)

Complaints for

Compensation

(Subpart D)

Complaints of

Discharge,

Discrimination

or Interference

(Subpart E)

Applications of

Temporary Relief

(Subpart F)

Appeals of Judges’

Decisions or

Orders

(Subpart H) (2)

Legal Actions

Initiated

During Quarter

Legal Actions

Resolved

During Quarter

4404856

Buchanan Mine #1

—

4609563

Eagle No. 1 Mine

—

4609564

Elklick Surface Mine

—

4609217

Powellton

—

4602140

Saunders Prep Plant

—

4609514

Muddy Bridge

—

4609319

Lower War Eagle

—

4609583

North Fork Winifrede

Deep Mine

—

4609101

Toney

Fork Surface Mine

—

Total:

—

(1)

The legal

actions

pending

shown in

the

table

above

have been

categorized

by type

proceeding

with

reference

the

procedural

rules

established

by the

FMSHRC under 29 CFR Part 2700. Reference to the

applicable Subparts under this Rule are listed in the columns

above.

(2)

Appeal of Administrative Law Judge’s order

denying motions for settlement approval in dockets

WEVA 2021-0294

and WEVA

2022-0403.

(3)

Includes a Motion to reopen docket WEVA

2024-0163, filed February 1, 2024.

(4)

A complaint

for discrimination

was

filed

with

MSHA

March

2024,

by a

former

employee

Greenbrier

Minerals.

As of

April

2024, no

formal

105(c)

complaint has

been filed

by the

U.S. Department

of Labor

or by

the employee

with the

Federal Mine

Safety and

Health Review

Commission.

Since he

was

classified as an employee of the Toney

Fork Surface Mine, the complaint is listed here for the Toney

Fork mine, but he also performed work duties at the Elklick

Surface Mine, the Middle Fork Surface Mine, and the North Fork

Surface Mine.

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	Apr. 30, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Entity File Number	1-16247
Entity Registrant Name	Coronado Global Resources Inc.
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	83-1780608
Entity Address Line1	Level 33, Central Plaza One
Entity Address Line 2	345 Queen Street
Entity Address City Or Town	Brisbane, Queensland
Entity Address Country	AU
Entity Address Postal Zip Code	4000
Country Region	61
City Area Code	7
Local Phone Number	3031 7777
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		167,645,373
Entity Central Index Key	0001770561
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 224,944	$ 339,295
Trade receivables, net	301,475	263,951
Income tax receivable	35,947	44,906
Inventories	149,836	192,279
Other current assets	89,821	103,609
Total current assets	802,023	944,040
Non-current assets:
Property, plant and equipment, net	1,502,439	1,506,437
Right of use asset - operating leases, net	85,333	80,899
Goodwill	28,008	28,008
Intangible assets, net	3,058	3,108
Restricted deposits	68,884	68,660
Deferred income tax assets	40,637	27,230
Other non-current assets	21,439	19,656
Total assets	2,551,821	2,678,038
Current liabilities:
Accounts payable	86,737	113,273
Accrued expenses and other current liabilities	267,826	312,705
Dividends payable	8,334	0
Asset retirement obligations	14,897	15,321
Contract obligations	38,926	40,722
Lease liabilities	23,783	22,879
Other current financial liabilities	2,751	2,825
Total current liabilities	443,254	507,725
Non-current liabilities:
Asset retirement obligations	147,374	148,608
Contract obligations	51,780	61,192
Deferred consideration liability	273,146	277,442
Interest bearing liabilities	235,987	235,343
Other financial liabilities	4,354	5,307
Lease liabilities	64,143	61,692
Deferred income tax liabilities	110,640	100,145
Other non-current liabilities	36,938	34,549
Total liabilities	1,367,616	1,432,003
Common stock $0.01 par value; 1,000,000,000 shares authorized,167,645,373 shares issued and outstanding as of March 31, 2024 and December 31, 2023	1,677	1,677
Series A Preferred stock $0.01 par value; 100,000,000 shares authorized, 1 Share issued and outstanding as of March 31, 2024 and December 31, 2023
Additional paid-in capital	1,093,272	1,094,431
Accumulated other comprehensive losses	(113,215)	(89,927)
Retained earnings	202,471	239,854
Total stockholders' equity	1,184,205	1,246,035
Total liabilities and stockholders' equity	$ 2,551,821	$ 2,678,038

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Condensed Consolidated Balance Sheets [Abstract]
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	167,645,373	167,645,373
Common stock, shares outstanding (in shares)	167,645,373	167,645,373
Preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	1	1
Preferred stock, shares outstanding (in shares)	1	1

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Coal revenues	$ 632,993	$ 738,345
Other revenues	35,156	27,369
Total revenues	668,149	765,714
Costs and expenses:
Cost of coal revenues (exclusive of items shown separately below)	472,521	380,474
Depreciation, depletion and amortization	45,349	39,423
Freight expenses	56,822	63,353
Stanwell rebate	31,451	39,208
Other royalties	85,160	85,957
Selling, general, and administrative expenses	8,815	7,774
Total costs and expenses	700,118	616,189
Other (expense) income:
Interest expense, net	(13,329)	(14,665)
Decrease in provision for discounting and credit losses	173	3,988
Other, net	12,012	3,042
Total other expense, net	(1,144)	(7,635)
(Loss) income before tax	(33,113)	141,890
Income tax benefit (expense)	4,112	(34,030)
Net (loss) income attributable to Coronado Global Resources Inc.	(29,001)	107,860
Other comprehensive loss, net of income taxes:
Foreign currency translation adjustments	(23,288)	(4,503)
Total other comprehensive loss	(23,288)	(4,503)
Total comprehensive (loss) income attributable to Coronado Global Resources Inc.	$ (52,289)	$ 103,357
(Loss) earnings per share of common stock
Basic	$ (0.17)	$ 0.64
Diluted	$ (0.17)	$ 0.64

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Paid in Capital [Member]	Accumulated Other Comprehensive Losses [Member]	Retained earnings [Member]
Balance, beginning of period at Dec. 31, 2022	$ 1,103,090	$ 1,677	$ 0	$ 1,092,282	$ (91,423)	$ 100,554
Balance, beginning of period, shares at Dec. 31, 2022		167,645,373	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	107,860	$ 0	$ 0	0	0	107,860
Other comprehensive loss	(4,503)	0	0	0	(4,503)	0
Total comprehensive (loss) income	103,357	0	0	0	(4,503)	107,860
Share-based compensation for equity classified awards	(308)	0	0	(308)	0	0
Dividends	(8,382)	$ 0	$ 0	0	0	(8,382)
Balance, end of period, shares at Mar. 31, 2023		167,645,373	1
Balance, end of period at Mar. 31, 2023	1,197,757	$ 1,677	$ 0	1,091,974	(95,926)	200,032
Balance, beginning of period at Dec. 31, 2023	1,246,035	$ 1,677	$ 0	1,094,431	(89,927)	239,854
Balance, beginning of period, shares at Dec. 31, 2023		167,645,373	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(29,001)	$ 0	$ 0	0	0	(29,001)
Other comprehensive loss	(23,288)	0	0	0	(23,288)	0
Total comprehensive (loss) income	(52,289)	0	0	0	(23,288)	(29,001)
Share-based compensation for equity classified awards	(1,159)	0	0	(1,159)	0	0
Dividends	(8,382)	$ 0	$ 0	0	0	(8,382)
Balance, end of period, shares at Mar. 31, 2024		167,645,373	1
Balance, end of period at Mar. 31, 2024	$ 1,184,205	$ 1,677	$ 0	$ 1,093,272	$ (113,215)	$ 202,471

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net (loss) income	$ (29,001)	$ 107,860
Adjustments to reconcile net income to cash and restricted cash provided by operating activities:
Depreciation, depletion and amortization	45,349	39,423
Amortization of right of use asset - operating leases	5,988	1,083
Amortization of deferred financing costs	257	483
Non-cash interest expense	8,906	8,086
Amortization of contract obligations	(7,597)	(7,201)
Loss on disposal of property, plant and equipment	130	121
Equity-based compensation expense	(1,159)	(308)
Deferred income taxes	(671)	8,141
Reclamation of asset retirement obligations	(992)	(737)
Decrease in provision for discounting and credit losses	(173)	(3,988)
Other non cash adjustments	(10,064)	0
Changes in operating assets and liabilities:
Accounts receivable	(46,184)	105,270
Inventories	36,517	(28,039)
Other assets	6,670	5,362
Accounts payable	(23,969)	7,601
Accrued expenses and other current liabilities	(44,686)	(11,883)
Operating lease liabilities	(6,108)	(2,080)
Income tax payable	10,524	(8,510)
Change in other liabilities	2,487	2,942
Net cash (used in) provided by operating activities	(53,776)	223,626
Cash flows from investing activities:
Capital expenditures	(54,931)	(54,839)
Purchase of restricted and other deposits	(381)	(2,403)
Redemption of restricted and other deposits	0	3,095
Net cash used in investing activities	(55,312)	(54,147)
Cash flows from financing activities:
Principal payments on interest bearing liabilities and other financial liabilities	(822)	(920)
Principal payments on finance lease obligations	(35)	(31)
Net cash used in financing activities	(857)	(951)
Net (decrease) increase in cash and cash equivalents	(109,945)	168,528
Effect of exchange rate changes on cash and cash equivalents	(4,406)	(4,857)
Cash and cash equivalents at beginning of period	339,295	334,629
Cash and cash equivalents at end of period	224,944	498,300
Supplemental disclosure of cash flow information:
Cash payments for interest	722	575
Cash (refund) paid for taxes	(12,407)	34,000
Restricted cash	$ 251	$ 251

Description of Business, Basis of Presentation	3 Months Ended
Description of Business, Basis of Presentation	Mar. 31, 2024
Description of Business, Basis of Presentation [Abstract]
Description of Business, Basis of Presentation	1. Description of Business, Basis of Presentation (a) Description of the Business Coronado Global Resources Inc. is a global producer, marketer, and exporter of a full range of metallurgical coals, an essential element in the production of steel. The Company has a portfolio of operating mines and development projects in Queensland, Australia, and in the states of Pennsylvania, Virginia and West Virginia in the United States, or U.S. (b) Basis of Presentation The interim unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of U.S. generally accepted accounting principles, or U.S. GAAP, and with the instructions to Form 10-Q and Article 10 of Regulation S-X related to interim financial reporting issued by the Securities and Exchange Commission, or the SEC. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC and the Australian Securities Exchange, or the ASX, on February 20, 2024. The interim unaudited condensed consolidated financial statements are presented in U.S. dollars, unless otherwise stated. They include the accounts of Coronado Global Resources Inc. and its wholly-owned subsidiaries. References to “US$” or “USD” are references to U.S. dollars. References to “A$” or “AUD” are references to Australian dollars, the lawful currency of the Commonwealth of Australia. The “Company” and “Coronado” are used interchangeably to refer to Coronado Global Resources Inc. and its subsidiaries, collectively, or to Coronado Global Resources Inc., as appropriate to the context. All intercompany balances and transactions have been eliminated upon consolidation. In the opinion of management, these interim financial statements reflect all normal, recurring adjustments necessary for the fair presentation of the Company’s financial position, results of operations, comprehensive income, cash flows and changes in equity for the periods presented. Balance sheet information presented herein as of December 31, 2023 has been derived from the Company’s audited consolidated balance sheet at that date. The Company’s results of operations for the three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024.

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Please see Note 2 “Summary of Significant Accounting Policies” contained in the audited consolidated financial statements for the year ended December 31, 2023 included in Coronado Global Resources Inc.’s Annual Report on Form 10-K filed with the SEC and ASX on February 20, 2024. (a) Newly Adopted Accounting Standards During the period, there has been no new Accounting Standards Update issued by the Financial Accounting Standards Board that had a material impact on the Company’s consolidated financial statements.

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2024
Segment Information [Abstract]
Segment Information	3. Segment Information The Company has a portfolio of operating mines and development projects in Queensland, Australia, and in the states of Pennsylvania, Virginia and West Virginia in the U.S. The operations in Australia, or Australian Operations, comprise the 100%-owned Curragh producing mine complex. The operations in the United States, or U.S. Operations, comprise two 100%-owned producing mine complexes (Buchanan and Logan), one 100%- owned idled mine complex (Greenbrier) and two development properties (Mon Valley and Russell County). The Company operates its business along two reportable segments: Australia and the United States. The organization of the two reportable segments reflects how the Company’s chief operating decision maker, or CODM, manages and allocates resources to the various components of the Company’s business. The CODM uses Adjusted EBITDA as the primary metric to measure each segment’s operating performance. Adjusted EBITDA is not a measure of financial performance in accordance with U.S. GAAP. Investors should be aware that the Company’s presentation of Adjusted EBITDA may not be comparable to similarly titled financial measures used by other companies. Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, depletion and amortization and other foreign exchange losses. Adjusted EBITDA is also adjusted for certain discrete items that management exclude in analyzing each of the Company’s segments’ operating performance. “Other and corporate” relates to additional financial information for the corporate function such as accounting, treasury, legal, human resources, compliance, and tax. As such, the corporate function is not determined to be a reportable segment but is discretely disclosed for purposes of reconciliation to the Company’s unaudited Condensed Consolidated Financial Statements. Reportable segment results as of and for the three months ended March 31, 2024 and 2023 are presented below: (in US$ thousands) Australia United States Other and Corporate Total Three months ended March 31, 2024 Total revenues $ 436,106 $ 232,043 $ — $ 668,149 Adjusted EBITDA (26,227) 49,228 (8,380) 14,621 Total assets 1,220,053 1,027,228 304,540 2,551,821 Capital expenditures 19,501 52,792 5 72,298 Three months ended March 31, 2023 Total revenues $ 398,661 $ 367,053 $ — $ 765,714 Adjusted EBITDA 13,233 185,042 (7,526) 190,749 Total assets 1,146,508 951,237 539,722 2,637,467 Capital expenditures 7,235 34,163 55 41,453 The reconciliations of Adjusted EBITDA to net income attributable to the Company for the three months ended March 31, 2024 and 2023 are as follows: Three months ended March 31, (in US$ thousands) 2024 2023 Net (loss) income $ (29,001) $ 107,860 Depreciation, depletion and amortization 45,349 39,423 Interest expense (net of interest income) (1) 13,329 14,665 Income tax (benefit) expense (4,112) 34,030 Other foreign exchange gains (2) (11,263) (2,992) Losses on idled assets (3) 492 1,751 Decrease in provision for discounting and credit losses (173) (3,988) Consolidated Adjusted EBITDA $ 14,621 $ 190,749 (1) Includes interest income of $ 3.0 million, and $ 1.0 million for the three months ended March 31, 2024 and 2023, respectively. (2) The balance primarily relates to foreign exchange gains and losses recognized in the translation of short-term inter-entity balances in certain entities within the group that are denominated in currencies other than their respective functional currencies. These gains and losses are included in “Other, net” on the unaudited Consolidated Statement of Operations and Comprehensive Income. (3) These losses relate to idled non-core assets that the Company has an active plan to sell. The reconciliations of capital expenditures per the Company’s segment information to capital expenditures disclosed on the unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 are as follows: Three months ended March 31, (in US$ thousands) 2024 2023 Capital expenditures per unaudited Condensed Consolidated Statements of Cash Flows $ 54,931 $ 54,839 Accruals for capital expenditures 22,150 4,098 Payment for capital acquired in prior periods (10,790) (11,242) Net movement in deposits to acquire long lead capital 6,007 (6,242) Capital expenditures per segment detail $ 72,298 $ 41,453 Disaggregation of Revenue The Company disaggregates the revenue from contracts with customers by major product group for each of the Company’s reportable segments, as the Company believes it best depicts the nature, amount, timing and uncertainty of revenues and cash flows. All revenue is recognized at a point in time. Three months ended March 31, 2024 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 408,303 $ 193,531 $ 601,834 Thermal coal 19,294 11,865 31,159 Total coal revenue 427,597 205,396 632,993 Other (1)(2) 8,509 26,647 35,156 Total $ 436,106 $ 232,043 $ 668,149 Three months ended March 31, 2023 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 372,519 $ 283,023 $ 655,542 Thermal coal 18,285 64,518 82,803 Total coal revenue 390,804 347,541 738,345 Other (1)(2) 7,857 19,512 27,369 Total $ 398,661 $ 367,053 $ 765,714 (1) Other revenue for the Australian segment includes the amortization of the Stanwell non-market coal supply contract obligation liability. (2) Other revenue for the U.S. segment includes $ 25.0 million and $ 17.5 million for the three months ended March 31, 2024 and March 31, 2023, respectively, relating to termination fee revenue from a coal sales contracts cancelled at our U.S. operations.

Inventories	3 Months Ended
Inventories	Mar. 31, 2024
Inventories [Abstract]
Inventories	4. Inventories (in US$ thousands) March 31, 2024 December 31, 2023 Raw coal $ 45,899 $ 55,998 Saleable coal 50,150 81,314 Total coal inventories 96,049 137,312 Supplies and other inventory 53,787 54,967 Total inventories $ 149,836 $ 192,279 Coal inventories measured at its net realizable value were $ 3.1 million and $ 2.4 million as at March 31, 2024 and December 31, 2023, respectively, and primarily relates to coal designated for deliveries under the Stanwell non- market coal supply agreement.

Property, Plant and Equipment	3 Months Ended
Property, Plant and Equipment	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	5. Property, Plant and Equipment (in US$ thousands) March 31, 2024 December 31, 2023 Land $ 28,471 $ 28,282 Buildings and improvements 103,275 102,642 Plant, machinery, mining equipment and transportation vehicles 1,199,513 1,189,088 Mineral rights and reserves 389,868 389,868 Office and computer equipment 10,156 9,771 Mine development 560,488 579,717 Asset retirement obligation asset 85,288 88,384 Construction in process 158,314 143,041 Total cost of property, plant and equipment 2,535,373 2,530,793 Less accumulated depreciation, depletion and amortization 1,032,934 1,024,356 Property, plant and equipment, net $ 1,502,439 $ 1,506,437

Other Assets	3 Months Ended
Other Assets	Mar. 31, 2024
Other Assets [Abstract]
Other Assets	6. Other Assets (in US$ thousands) March 31, 2024 December 31, 2023 Other current assets Prepayments $ 27,643 $ 34,175 Long service leave receivable 7,889 8,438 Tax credits receivable 3,265 3,265 Deposits to acquire capital items 10,841 18,935 Short term deposits 21,674 21,906 Other 18,509 16,890 Total other current assets $ 89,821 $ 103,609 The Company has other current assets which includes prepayments, favorable mineral leases, long service leave receivable, equipment deposits, short term deposits and coalfield employment enhancement tax credit receivable. Short term deposits are term deposits held with financial institutions with maturity greater than ninety days and less than twelve months and do not meet the cash and cash equivalents criteria.

Accrued Expenses and Other Current Liabilities	3 Months Ended
Accrued Expenses and Other Current Liabilities	Mar. 31, 2024
Accrued Expenses and Other Current Liabilities [Abstract]
Accrued Expenses and Other Current Liabilities	7. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following: (in US$ thousands) March 31, 2024 December 31, 2023 Wages and employee benefits $ 43,926 $ 42,348 Taxes other than income taxes 7,764 6,728 Accrued royalties 58,701 45,770 Accrued freight costs 35,875 47,549 Accrued mining fees 101,955 89,622 Acquisition related accruals — 53,700 Other liabilities 19,605 26,988 Total accrued expenses and other current liabilities $ 267,826 $ 312,705 Acquisition related accruals of $ 53.7 million (A$ 79.0 million) as at December 31, 2023, related to the remaining estimated stamp duty payable on the Curragh acquisition. On March 6, 2024, the Company paid the outstanding assessed stamp duty and tax interest to the Queensland Revenue Office, or QRO. Refer to Note 16 “Contingencies” for further details.

Dividends Payable	3 Months Ended
Dividends Payable	Mar. 31, 2024
Dividends Payable [Abstract]
Dividends Payable	8. Dividends payable On February 19, 2024, the Company’s Board of Directors declared a bi-annual fully franked fixed ordinary dividend of $ 8.4 million, or 0.5 cents per CDI. On April 4, 2024, the Company paid $ 8.3 million, net of $ 0.1 million foreign exchange gain on payment of dividends to certain CDI holders who elected to be paid in Australian dollars.

Leases	3 Months Ended
Leases	Mar. 31, 2024
Leases [Abstract]
Leases	9. Leases During the three months ended March 31, 2024, the Company entered into a number of agreements to lease mining equipment. Based on the Company’s assessment of terms within these agreements, the Company classified these leases as operating leases. On mobilization of these leased mining equipment, the Company recognized right-of-use assets and operating lease liabilities of $ 13.3 million. Information related to the Company’s right-of-use assets and related lease liabilities are as follows: Three months ended (in US$ thousands) March 31, 2024 March 31, 2023 Operating lease costs $ 7,568 $ 1,083 Cash paid for operating lease liabilities 6,108 2,080 Finance lease costs: Amortization of right of use assets 33 31 Interest on lease liabilities 1 4 Total finance lease costs $ 34 $ 35 (in US$ thousands) March 31, 2024 December 31, 2023 Operating leases: Operating lease right-of-use assets $ 85,333 $ 80,899 Finance leases: Property and equipment 371 371 Accumulated depreciation (342) (309) Property and equipment, net 29 62 Current operating lease obligations 23,750 22,811 Operating lease liabilities, less current portion 64,143 61,692 Total operating lease liabilities 87,893 84,503 Current finance lease obligations 33 68 Finance lease liabilities, less current portion — — Total Finance lease liabilities 33 68 Current lease obligation 23,783 22,879 Non-current lease obligation 64,143 61,692 Total Lease liability $ 87,926 $ 84,571 March 31, 2024 December 31, 2023 Weighted Average Remaining Lease Term (Years) Weighted average remaining lease term – finance leases 0.3 0.5 Weighted average remaining lease term – operating leases 3.8 3.7 Weighted Average Discount Rate Weighted discount rate – finance lease 7.6% 7.6% Weighted discount rate – operating lease 8.8% 9.0% The Company’s operating leases have remaining lease terms of 1 year to 5 years, some of which include options to extend the terms where the Company deems it is reasonably certain the options will be exercised. Maturities of lease liabilities as at March 31, 2024, are as follows: (in US$ thousands) Operating Lease Finance Lease Year ending December 31, 2024 $ 22,860 $ 33 2025 30,505 — 2026 23,054 — 2027 14,852 — 2028 11,304 — Thereafter 779 — Total lease payments 103,354 33 Less imputed interest (15,461) — Total lease liability $ 87,893 $ 33

Interest Bearing Liabilities	3 Months Ended
Interest Bearing Liabilities	Mar. 31, 2024
Interest Bearing Liabilities [Abstract]
Interest Bearing Liabilities	10. Interest Bearing Liabilities The following is a summary of interest-bearing liabilities at March 31, 2024: (in US$ thousands) March 31, 2024 December 31, 2023 Weighted Average Interest Rate at March 31, 2024 Final Maturity 10.75 % Senior Secured Notes $ 242,326 $ 242,326 12.14 % (2) 2026 ABL Facility — — 2026 Discount and debt issuance costs (1) (6,339) (6,983) Total interest bearing liabilities $ 235,987 $ 235,343 (1) Debt issuance costs incurred on the establishment of the ABL Facility has been included within "Other non-current assets" in the unaudited Condensed Consolidated Balance Sheet. (2) Represents the effective interest rate. Senior Secured Notes As of March 31, 2024, the Company’s aggregate principal amount of the 10.750 % Senior Secured Notes due 2026, or the Notes, outstanding was $ 242.3 million. The Notes mature on May 15, 2026 and are senior secured obligations of the Company. The terms of the Notes are governed by an indenture, dated as of May 12, 2021, or the Indenture, among Coronado Finance Pty Ltd, an Australian proprietary company, as issuer, Coronado, as parent guarantor, the other guarantors party thereto and Wilmington Trust, National Association, as trustee. The Indenture contains customary covenants for high yield bonds, including, but not limited to, limitations on investments, liens, indebtedness, asset sales, transactions with affiliates and restricted payments, including payment of dividends on capital stock. As of March 31, 2024, the Company was in compliance with all applicable covenants under the Indenture. Under the terms of the Indenture, upon the occurrence of a “Change of Control” (as defined in the Indenture), the issuer is required to make an offer, or a Change of Control Offer, to repurchase the Notes at 101 % of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. Alternatively, if the issuer elects to redeem all of the Notes, during the 12-month period commencing on May 15 of the years set forth below at the redemption prices (expressed in percentages of principal amount on the redemption date) set forth below, plus accrued and unpaid interest to, but not including, the redemption date, the issuer is not required to make a Change of Control Offer: Period Redemption price 2024 104.03% 2025 and thereafter 100.00% Asset Based Revolving Credit Facility On May 8, 2023, the Company entered into a senior secured asset-based revolving credit agreement in an initial aggregate amount of $ 150.0 million, or the ABL Facility. The ABL Facility matures in August 2026 and provides for up to $ 150.0 million in borrowings, including a $ 100.0 million sublimit for the issuance of letters of credit and $ 70.0 million sublimit as a revolving credit facility. Availability under the ABL Facility is limited to an eligible borrowing base, determined by applying customary advance rates to eligible accounts receivable and inventory. Borrowings under the ABL Facility bear interest at a rate per annum equal to an applicable rate of 2.80 % plus BBSY, for loans denominated in A$, or SOFR, for loans denominated in US$, at the Company’s election. As at March 31, 2024, the letter of credit sublimit had been partially used to issue $ 21.7 million of bank guarantees on behalf of the Company and no amounts were drawn under the revolving credit sublimit of ABL Facility. The ABL Facility contains customary representations and warranties and affirmative and negative covenants including, among others, a covenant regarding the maintenance of leverage ratio to be less than 3.00 times, a covenant regarding maintenance of interest coverage ratio to be more than 3.00 times, covenants relating to the payment of dividends, or purchase or redemption of, with respect to any Equity Interests of Holdings or any of its Subsidiaries, covenants relating to financial reporting, covenants relating to the incurrence of liens or encumbrances, covenants relating to the incurrence or prepayment of certain debt, compliance with laws, use of proceeds, maintenance of properties, maintenance of insurance, payment obligations, financial accommodation, mergers and sales of all or substantially all of the Borrowers and Guarantors’, collectively the Loan Parties, assets and limitations on changes in the nature of the Loan Parties’ business. As at March 31, 2024, the Company was in compliance with all applicable covenants under the ABL Facility. Under the terms of ABL Facility, a Review Event (as defined in the ABL Facility) is triggered if, among other matters, a “change of control” (as defined in the ABL Facility) occurs. Following the occurrence of a Review Event, the Borrowers must promptly meet and consult in good faith with the Administrative Agent and the Lenders to agree a strategy to address the relevant Review Event including but not limited to a restructure of the terms of the ABL Facility to the satisfaction of the Lenders. If at the end of a period of 20 business days after the occurrence of the Review Event, the Lenders are not satisfied with the result of their discussion or meeting with the Borrowers or do not wish to continue to provide their commitments, the Lenders may declare all amounts owing under the ABL Facility immediately due and payable, terminate such Lenders’ commitments to make loans under the ABL Facility, require the Borrowers to cash collateralize any letter of credit obligations and/or exercise any and all remedies and other rights under the ABL Facility. Subject to customary grace periods and notice requirements, the ABL Facility also contains customary events of default.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Taxes [Abstract]
Income Taxes	11. Income Taxes For the three months ended March 31, 2024 and 2023, the Company estimated its annual effective tax rate and applied this effective tax rate to its year-to-date pretax income at the end of the interim reporting period. The tax effects of unusual or infrequently occurring items, including effects of changes in tax laws or rates and changes in judgment about the realizability of deferred tax assets, are reported in the interim period in which they occur. The Company’s 2024 estimated annual effective tax rate is 12.0 %, which has been favorably impacted by mine depletion deductions in the United States. The Company had an income tax benefit of $ 4.1 million based on a loss before tax of $ 33.1 million for the three months ended March 31, 2024, which includes a discrete benefit of $ 0.1 million relating to the prior year for the United States. Income tax expense of $ 34.0 million for the three months ended March 31, 2023 was calculated based on an estimated annual effective tax rate of 24.0 % for the period. The Company utilizes the “more likely than not” standard in recognizing a tax benefit in its financial statements. For the three months ended March 31, 2024, the Company had no new unrecognized tax benefits included in tax expense. If accrual for interest or penalties is required, it is the Company’s policy to include these as a component of income tax expense. The Company continues to carry an unrecognized tax benefit of $ 20.8 million consistent with December 31, 2023. The Company is subject to taxation in the U.S. and its various states, as well as Australia and its various localities. In the U.S. and Australia, the first tax return was lodged for the year ended December 31, 2018. In the U.S., companies are subject to open tax audits for a period of seven years at the federal level and five years at the state level. In Australia, companies are subject to open tax audits for a period of four years from the date of assessment. The Company assessed the need for valuation allowances by evaluating future taxable income, available for tax strategies and the reversal of temporary tax differences.

Earnings per Share	3 Months Ended
Earnings per Share	Mar. 31, 2024
Earnings per Share [Abstract]
Earnings per Share	12. Earnings per Share Basic earnings per share of common stock is computed by dividing net income attributable to the Company for the period, by the weighted-average number of shares of common stock outstanding during the same period. Diluted earnings per share of common stock is computed by dividing net income attributable to the Company by the weighted-average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities. Basic and diluted earnings per share was calculated as follows (in thousands, except per share data): Three months ended March 31, (in US$ thousands, except per share data) 2024 2023 Numerator: Net (loss) income attributable to Company stockholders $ (29,001) $ 107,860 Denominator (in thousands): Weighted-average shares of common stock outstanding 167,645 167,645 Effects of dilutive shares — 307 Weighted average diluted shares of common stock outstanding 167,645 167,952 (Loss) Earnings Per Share (US$): Basic (0.17) 0.64 Dilutive (0.17) 0.64 The Company’s common stock is publicly traded on the ASX in the form of CDIs, convertible at the option of the holders into shares of the Company’s common stock on a 10 -for-1 basis.

Fair Value Measurement	3 Months Ended
Fair Value Measurement	Mar. 31, 2024
Fair Value Measurement [Abstract]
Fair Value Measurement	13. Fair Value Measurement The fair value of a financial instrument is the amount that will be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair values of financial instruments involve uncertainty and cannot be determined with precision. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. Level 2 Inputs: Other than quoted prices that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. Financial Instruments Measured on a Recurring Basis As of March 31, 2024, there were no financial instruments required to be measured at fair value on a recurring basis. Other Financial Instruments The following methods and assumptions are used to estimate the fair value of other financial instruments as of March 31, 2024 and December 31, 2023: ● Cash and cash equivalents, accounts receivable, short-term deposits, accounts payable, accrued expenses, lease liabilities and other current financial liabilities: The carrying amounts reported in the unaudited Condensed Consolidated Balance Sheets approximate fair value due to the short maturity of these instruments. ● Restricted deposits, lease liabilities, interest bearing liabilities and other financial liabilities: The fair values approximate the carrying values reported in the unaudited Condensed Consolidated Balance Sheets. ● Interest bearing liabilities: The Company’s outstanding interest-bearing liabilities are carried at amortized cost. As of March 31, 2024, there were no amounts drawn under the revolving credit sublimit of the ABL Facility. The estimated fair value of the Notes as of March 31, 2024 was approximately $ 250.5 million based upon quoted market prices in a market that is not considered active (Level 2).

Accumulated Other Comprehensive Losses	3 Months Ended
Accumulated Other Comprehensive Losses	Mar. 31, 2024
Accumulated Other Comprehensive Losses [Abstract]
Accumulated Other Comprehensive Losses	14. Accumulated Other Comprehensive Losses The Company’s Accumulated Other Comprehensive Losses consists of foreign currency translation adjustment of subsidiaries for which the functional currency is different to the Company’s functional currency in U.S. dollar. Accumulated other comprehensive losses consisted of the following at March 31, 2024: (in US$ thousands) Foreign currency translation adjustments Balance at December 31, 2023 $ (89,927) Net current-period other comprehensive loss: Loss in other comprehensive income before reclassifications (5,265) Loss on long-term intra-entity foreign currency transactions (18,023) Total net current-period other comprehensive loss (23,288) Balance at March 31, 2024 $ (113,215)

Commitments	3 Months Ended
Commitments	Mar. 31, 2024
Commitments [Abstract]
Commitments	15. Commitments (a) Mineral Leases The Company leases mineral interests and surface rights from land owners under various terms and royalty rates. The future minimum royalties under these leases as of March 31, 2024 are as follows: (in US$ thousands) Amount Year ending December 31, 2024 $ 4,228 2025 5,474 2026 5,338 2027 5,300 2028 5,243 Thereafter 25,397 Total $ 50,980 Mineral leases are not in scope of Accounting Standards Codification, or ASC, 842 and continue to be accounted for under the guidance in ASC 932, Extractive Activities – Mining. (b) Other commitments As of March 31, 2024, purchase commitments for capital expenditures were $ 68.6 million, all of which is obligated within the next twelve months. In Australia, the Company has generally secured the ability to transport coal through rail contracts and coal export terminal contracts that are primarily funded through take-or-pay arrangements with terms ranging up to 13 years . In the U.S., the Company typically negotiates its rail and coal terminal access on an annual basis. As of March 31, 2024, these Australian and U.S. commitments under take-or-pay arrangements totaled $ 723.0 million, of which approximately $ 90.0 million is obligated within the next twelve months.

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2024
Contingencies [Abstract]
Contingencies	16. Contingencies Surety bond, letters of credit and bank guarantees In the normal course of business, the Company is a party to certain guarantees and financial instruments with off-balance sheet risk, such as letters of credit and performance or surety bonds. No liabilities related to these arrangements are reflected in the Company’s unaudited Condensed Consolidated Balance Sheets. Management does not expect any material losses to result from these guarantees or off-balance sheet financial instruments. For the U.S. Operations in order to provide the required financial assurance for post mining reclamation, the Company generally uses surety bonds. The Company uses surety bonds and bank letters of credit to collateralize certain other obligations including contractual obligations under workers’ compensation insurances. As of March 31, 2024, the Company had outstanding surety bonds of $ 46.7 million and letters of credit of $ 16.8 million issued from our available bank guarantees under the ABL Facility. For the Australian Operations as at March 31, 2024, the Company had bank guarantees outstanding of $ 24.2 million, including $ 4.9 million issued from the ABL Facility, primarily in respect of certain rail and port arrangements of the Company. As at March 31, 2024, the Company in aggregate had total outstanding bank guarantees provided of $ 41.0 million to secure its obligations and commitments, including $ 21.7 million issued from the ABL Facility. Future regulatory changes relating to these obligations could result in increased obligations, additional costs or additional collateral requirements. Restricted deposits – cash collateral As required by certain agreements, the Company had cash collateral in the form of deposits in the amount of $ 68.9 million and $ 68.7 million as of March 31, 2024 and December 31, 2023, respectively, to provide back-to- back support for bank guarantees, financial payments, other performance obligations, various other operating agreements and contractual obligations under workers compensation insurance . These deposits are restricted and classified as long-term assets in the unaudited Condensed Consolidated Balance Sheets. In accordance with the terms of the ABL Facility, the Company may be required to cash collateralize the ABL Facility to the extent of outstanding letters of credit after the expiration or termination date of such letter of credit after the expiration or termination date of such letter of credit. As of March 31, 2024, no letter of credit was outstanding after the expiration or termination date and no cash collateral was required. Stamp duty on Curragh acquisition On September 27, 2022, the Company received from the Queensland Revenue Office, or QRO, an assessment of the stamp duty payable on its acquisition of the Curragh mine in March 2018. The QRO assessed the stamp duty on this acquisition at an amount of $ 56.2 million (A$ 82.2 million) plus unpaid tax interest. On November 23, 2022, the Company filed an objection to the assessment. The Company’s objection was based on legal and valuation advice obtained, which supported an estimated stamp duty payable of $ 29.4 million (A$ 43.0 million) on the Curragh acquisition. On January 9, 2024, the Company’s objection to the assessed stamp duty was disallowed by the QRO. As per the Taxation Administration Act (Queensland) 2001, the Company could only appeal or apply for a review of QRO’s decision if it has paid the total assessed stamp duty of $ 56.2 million (A$ 82.2 million) plus unpaid tax interest of $ 14.5 million (A$ 21.2 million). The Company had until March 11, 2024, to file an appeal. On March 6, 2024, the Company made an additional payment, and paid in full, the stamp duty assessed by the QRO. The Company disputes the additional amount of assessed stamp duty and, on March 11, 2024, filed its appeal with the Supreme Court of Queensland. From time to time, the Company becomes a party to other legal proceedings in the ordinary course of business in Australia, the U.S. and other countries where the Company does business. Based on current information, the Company believes that such other pending or threatened proceedings are likely to be resolved without a material adverse effect on its financial condition, results of operations or cash flows. In management’s opinion, the Company is not currently involved in any legal proceedings, which individually or in the aggregate could have a material effect on the financial condition, results of operations and/or liquidity of the Company.

Related-Party Transactions	3 Months Ended
Related-Party Transactions	Mar. 31, 2024
Related-Party Transactions [Abstract]
Related-Party Transactions	17. Related ‑ Party Transactions SGI Transaction On September 25, 2023, Energy & Minerals Group, the Company’s controlling stockholder through its ownership of Coronado Group LLC, including through certain of its affiliates and managed funds (the Sellers), advised the Company that it had entered into a membership interest purchase agreement, or MIPA, with Sev.en Global Investments a.s., or SGI. A copy of the MIPA has not been made available to the Company or the Special Committee referred to below as of the date of this Quarterly Report on Form 10-Q. However, the Company understands that, pursuant to the terms of the MIPA, the Sellers agreed to sell all of their interests in Coronado Group LLC to a wholly-owned subsidiary of SGI. We refer to the proposed transaction as the SGI Transaction. The Company also understands that, under the MIPA, the SGI Transaction is subject to customary closing conditions including regulatory approvals in the U.S. and Australia. The Board of Directors has appointed a special committee of independent directors, or the Special Committee, to, among other things, assess the impact and consequences of the SGI Transaction on the Company and take such actions as the Special Committee deems appropriate in connection with the SGI Transaction. The Energy and Minerals Group has reported that following the closing of the SGI Transaction, SGI will be the direct or indirect owner of Coronado Group LLC. As of the date of this Quarterly Report on Form 10-Q, Coronado Group LLC is currently the direct owner of 845,061,399 CDIs (representing a beneficial interest in 84,506,140 shares of common stock, or 50.4 % of the Company’s outstanding total common stock) and the one Series A Share. Based on information that the Company is currently aware of, on completion of the SGI Transaction, a change of control as defined under the terms of Notes and ABL Facility may occur. Refer to Note 10. “Interest Bearing Liabilities” for further information. Under the Company’s 2018 Equity Incentive Plan, the change of control provisions may also be triggered on completion of the SGI Transaction, however the Compensation and Nominating Committee of the Board of Directors, at its sole discretion, will determine how the outstanding awards under the plan will be dealt with, which may include acceleration of the vesting conditions. In addition, certain contract counterparties, including Stanwell, customers, suppliers and third-party providers may assert contractual rights, such as consent or termination rights that may be triggered by the change of control resulting from the consummation of the SGI Transaction. For a number of customers and supplier agreements, including contractor agreements, the completion of the SGI Transaction may trigger a financial or suitability assessment by the counterparty, which may entitle the counterparty to terminate the agreement, request further security or seek amendments to the terms of the agreement.

Description of Business, Basis of Presentation (Policy)	3 Months Ended
Description of Business, Basis of Presentation (Policy)	Mar. 31, 2024
Description of Business, Basis of Presentation [Abstract]
Description of the Business	Description of the Business Coronado Global Resources Inc. is a global producer, marketer, and exporter of a full range of metallurgical coals, an essential element in the production of steel. The Company has a portfolio of operating mines and development projects in Queensland, Australia, and in the states of Pennsylvania, Virginia and West Virginia in the United States, or U.S.
Basis of Presentation	Basis of Presentation The interim unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of U.S. generally accepted accounting principles, or U.S. GAAP, and with the instructions to Form 10-Q and Article 10 of Regulation S-X related to interim financial reporting issued by the Securities and Exchange Commission, or the SEC. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC and the Australian Securities Exchange, or the ASX, on February 20, 2024. The interim unaudited condensed consolidated financial statements are presented in U.S. dollars, unless otherwise stated. They include the accounts of Coronado Global Resources Inc. and its wholly-owned subsidiaries. References to “US$” or “USD” are references to U.S. dollars. References to “A$” or “AUD” are references to Australian dollars, the lawful currency of the Commonwealth of Australia. The “Company” and “Coronado” are used interchangeably to refer to Coronado Global Resources Inc. and its subsidiaries, collectively, or to Coronado Global Resources Inc., as appropriate to the context. All intercompany balances and transactions have been eliminated upon consolidation. In the opinion of management, these interim financial statements reflect all normal, recurring adjustments necessary for the fair presentation of the Company’s financial position, results of operations, comprehensive income, cash flows and changes in equity for the periods presented. Balance sheet information presented herein as of December 31, 2023 has been derived from the Company’s audited consolidated balance sheet at that date. The Company’s results of operations for the three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024.

Summary of Significant Accounting Policies (Policy)	3 Months Ended
Summary of Significant Accounting Policies (Policy)	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Newly Adopted Accounting Standards	(a) Newly Adopted Accounting Standards During the period, there has been no new Accounting Standards Update issued by the Financial Accounting Standards Board that had a material impact on the Company’s consolidated financial statements.

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2024
Segment Information [Abstract]
Reportable Segment Results	(in US$ thousands) Australia United States Other and Corporate Total Three months ended March 31, 2024 Total revenues $ 436,106 $ 232,043 $ — $ 668,149 Adjusted EBITDA (26,227) 49,228 (8,380) 14,621 Total assets 1,220,053 1,027,228 304,540 2,551,821 Capital expenditures 19,501 52,792 5 72,298 Three months ended March 31, 2023 Total revenues $ 398,661 $ 367,053 $ — $ 765,714 Adjusted EBITDA 13,233 185,042 (7,526) 190,749 Total assets 1,146,508 951,237 539,722 2,637,467 Capital expenditures 7,235 34,163 55 41,453
Reconciliation of EBITDA to Net Income	Three months ended March 31, (in US$ thousands) 2024 2023 Net (loss) income $ (29,001) $ 107,860 Depreciation, depletion and amortization 45,349 39,423 Interest expense (net of interest income) (1) 13,329 14,665 Income tax (benefit) expense (4,112) 34,030 Other foreign exchange gains (2) (11,263) (2,992) Losses on idled assets (3) 492 1,751 Decrease in provision for discounting and credit losses (173) (3,988) Consolidated Adjusted EBITDA $ 14,621 $ 190,749 (1) Includes interest income of $ 3.0 million, and $ 1.0 million for the three months ended March 31, 2024 and 2023, respectively. (2) The balance primarily relates to foreign exchange gains and losses recognized in the translation of short-term inter-entity balances in certain entities within the group that are denominated in currencies other than their respective functional currencies. These gains and losses are included in “Other, net” on the unaudited Consolidated Statement of Operations and Comprehensive Income. (3) These losses relate to idled non-core assets that the Company has an active plan to sell.
Reconciliation of Capital Expenditures	Three months ended March 31, (in US$ thousands) 2024 2023 Capital expenditures per unaudited Condensed Consolidated Statements of Cash Flows $ 54,931 $ 54,839 Accruals for capital expenditures 22,150 4,098 Payment for capital acquired in prior periods (10,790) (11,242) Net movement in deposits to acquire long lead capital 6,007 (6,242) Capital expenditures per segment detail $ 72,298 $ 41,453
Disaggregation of Revenue	Three months ended March 31, 2024 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 408,303 $ 193,531 $ 601,834 Thermal coal 19,294 11,865 31,159 Total coal revenue 427,597 205,396 632,993 Other (1)(2) 8,509 26,647 35,156 Total $ 436,106 $ 232,043 $ 668,149 Three months ended March 31, 2023 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 372,519 $ 283,023 $ 655,542 Thermal coal 18,285 64,518 82,803 Total coal revenue 390,804 347,541 738,345 Other (1)(2) 7,857 19,512 27,369 Total $ 398,661 $ 367,053 $ 765,714 (1) Other revenue for the Australian segment includes the amortization of the Stanwell non-market coal supply contract obligation liability. (2) Other revenue for the U.S. segment includes $ 25.0 million and $ 17.5 million for the three months ended March 31, 2024 and March 31, 2023, respectively, relating to termination fee revenue from a coal sales contracts cancelled at our U.S. operations.

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Mar. 31, 2024
Inventories [Abstract]
Schedule of Inventories	(in US$ thousands) March 31, 2024 December 31, 2023 Raw coal $ 45,899 $ 55,998 Saleable coal 50,150 81,314 Total coal inventories 96,049 137,312 Supplies and other inventory 53,787 54,967 Total inventories $ 149,836 $ 192,279

Property, Plant and Equipment (Tables)	3 Months Ended
Property, Plant and Equipment (Tables)	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	(in US$ thousands) March 31, 2024 December 31, 2023 Land $ 28,471 $ 28,282 Buildings and improvements 103,275 102,642 Plant, machinery, mining equipment and transportation vehicles 1,199,513 1,189,088 Mineral rights and reserves 389,868 389,868 Office and computer equipment 10,156 9,771 Mine development 560,488 579,717 Asset retirement obligation asset 85,288 88,384 Construction in process 158,314 143,041 Total cost of property, plant and equipment 2,535,373 2,530,793 Less accumulated depreciation, depletion and amortization 1,032,934 1,024,356 Property, plant and equipment, net $ 1,502,439 $ 1,506,437

Other Assets (Tables)	3 Months Ended
Other Assets (Tables)	Mar. 31, 2024
Other Assets [Abstract]
Schedule Of Other Assets	(in US$ thousands) March 31, 2024 December 31, 2023 Other current assets Prepayments $ 27,643 $ 34,175 Long service leave receivable 7,889 8,438 Tax credits receivable 3,265 3,265 Deposits to acquire capital items 10,841 18,935 Short term deposits 21,674 21,906 Other 18,509 16,890 Total other current assets $ 89,821 $ 103,609

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
Accrued Expenses and Other Current Liabilities (Tables)	Mar. 31, 2024
Accrued Expenses and Other Current Liabilities [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	(in US$ thousands) March 31, 2024 December 31, 2023 Wages and employee benefits $ 43,926 $ 42,348 Taxes other than income taxes 7,764 6,728 Accrued royalties 58,701 45,770 Accrued freight costs 35,875 47,549 Accrued mining fees 101,955 89,622 Acquisition related accruals — 53,700 Other liabilities 19,605 26,988 Total accrued expenses and other current liabilities $ 267,826 $ 312,705

Leases (Table)	3 Months Ended
Leases (Table)	Mar. 31, 2024
Leases [Abstract]
Information Related To Right-Of Use Assets And Related Lease Liabilities	Three months ended (in US$ thousands) March 31, 2024 March 31, 2023 Operating lease costs $ 7,568 $ 1,083 Cash paid for operating lease liabilities 6,108 2,080 Finance lease costs: Amortization of right of use assets 33 31 Interest on lease liabilities 1 4 Total finance lease costs $ 34 $ 35 (in US$ thousands) March 31, 2024 December 31, 2023 Operating leases: Operating lease right-of-use assets $ 85,333 $ 80,899 Finance leases: Property and equipment 371 371 Accumulated depreciation (342) (309) Property and equipment, net 29 62 Current operating lease obligations 23,750 22,811 Operating lease liabilities, less current portion 64,143 61,692 Total operating lease liabilities 87,893 84,503 Current finance lease obligations 33 68 Finance lease liabilities, less current portion — — Total Finance lease liabilities 33 68 Current lease obligation 23,783 22,879 Non-current lease obligation 64,143 61,692 Total Lease liability $ 87,926 $ 84,571 March 31, 2024 December 31, 2023 Weighted Average Remaining Lease Term (Years) Weighted average remaining lease term – finance leases 0.3 0.5 Weighted average remaining lease term – operating leases 3.8 3.7 Weighted Average Discount Rate Weighted discount rate – finance lease 7.6% 7.6% Weighted discount rate – operating lease 8.8% 9.0%
Maturities Of Lease Liabilities, Operating Lease	(in US$ thousands) Operating Lease Finance Lease Year ending December 31, 2024 $ 22,860 $ 33 2025 30,505 — 2026 23,054 — 2027 14,852 — 2028 11,304 — Thereafter 779 — Total lease payments 103,354 33 Less imputed interest (15,461) — Total lease liability $ 87,893 $ 33
Maturities Of Lease Liabilities, Finance Lease	(in US$ thousands) Operating Lease Finance Lease Year ending December 31, 2024 $ 22,860 $ 33 2025 30,505 — 2026 23,054 — 2027 14,852 — 2028 11,304 — Thereafter 779 — Total lease payments 103,354 33 Less imputed interest (15,461) — Total lease liability $ 87,893 $ 33

Interest Bearing Liabilities (Tables)	3 Months Ended
Interest Bearing Liabilities (Tables)	Mar. 31, 2024
Interest Bearing Liabilities [Abstract]
Summary of Interest Bearing Liabilities	The following is a summary of interest-bearing liabilities at March 31, 2024: (in US$ thousands) March 31, 2024 December 31, 2023 Weighted Average Interest Rate at March 31, 2024 Final Maturity 10.75 % Senior Secured Notes $ 242,326 $ 242,326 12.14 % (2) 2026 ABL Facility — — 2026 Discount and debt issuance costs (1) (6,339) (6,983) Total interest bearing liabilities $ 235,987 $ 235,343 (1) Debt issuance costs incurred on the establishment of the ABL Facility has been included within "Other non-current assets" in the unaudited Condensed Consolidated Balance Sheet. (2) Represents the effective interest rate.
Summary of Debt Redemption Information	Period Redemption price 2024 104.03% 2025 and thereafter 100.00%

Earnings per Share (Tables)	3 Months Ended
Earnings per Share (Tables)	Mar. 31, 2024
Earnings per Share [Abstract]
Schedule of Earnings Per Share	Basic and diluted earnings per share was calculated as follows (in thousands, except per share data): Three months ended March 31, (in US$ thousands, except per share data) 2024 2023 Numerator: Net (loss) income attributable to Company stockholders $ (29,001) $ 107,860 Denominator (in thousands): Weighted-average shares of common stock outstanding 167,645 167,645 Effects of dilutive shares — 307 Weighted average diluted shares of common stock outstanding 167,645 167,952 (Loss) Earnings Per Share (US$): Basic (0.17) 0.64 Dilutive (0.17) 0.64

Accumulated Other Comprehensive Losses (Tables)	3 Months Ended
Accumulated Other Comprehensive Losses (Tables)	Mar. 31, 2024
Accumulated Other Comprehensive Losses [Abstract]
Schedule of Accumulated Other Comprehensive Losses	(in US$ thousands) Foreign currency translation adjustments Balance at December 31, 2023 $ (89,927) Net current-period other comprehensive loss: Loss in other comprehensive income before reclassifications (5,265) Loss on long-term intra-entity foreign currency transactions (18,023) Total net current-period other comprehensive loss (23,288) Balance at March 31, 2024 $ (113,215)

Commitments (Tables)	3 Months Ended
Commitments (Tables)	Mar. 31, 2024
Commitments [Abstract]
Future Minimum Royalties	(in US$ thousands) Amount Year ending December 31, 2024 $ 4,228 2025 5,474 2026 5,338 2027 5,300 2028 5,243 Thereafter 25,397 Total $ 50,980 Mineral leases are not in scope of Accounting Standards Codification, or ASC, 842 and continue to be accounted for under the guidance in ASC 932, Extractive Activities – Mining.

Segment Information (Narrative) (Details)	3 Months Ended
Segment Information (Narrative) (Details)	Mar. 31, 2024 segment Properties
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2
United States Segment [Member] \| Producing mine complexes, Buchanan and Logan [Member]
Segment Reporting Information [Line Items]
Portfolio of operating mines and development projects (number)	2
United States Segment [Member] \| Idled mine complex (Greenbrier) [Member]
Segment Reporting Information [Line Items]
Portfolio of operating mines and development projects (number)	1
United States Segment [Member] \| Development properties, Mon Valley and Russell County [Member]
Segment Reporting Information [Line Items]
Portfolio of operating mines and development projects (number)	2

Segment Information (Reportable Segment Results) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Reportable segment results
Total revenues	$ 668,149	$ 765,714
Adjusted EBITDA	14,621	190,749
Total assets	2,551,821	2,637,467	$ 2,678,038
Capital expenditures	72,298	41,453
Other and Corporate [Member]
Reportable segment results
Total revenues	0	0
Adjusted EBITDA	(8,380)	(7,526)
Total assets	304,540	539,722
Capital expenditures	5	55
Australia Segment [Member] \| Operating Segments [Member]
Reportable segment results
Total revenues	436,106	398,661
Adjusted EBITDA	(26,227)	13,233
Total assets	1,220,053	1,146,508
Capital expenditures	19,501	7,235
United States Segment [Member] \| Operating Segments [Member]
Reportable segment results
Total revenues	232,043	367,053
Adjusted EBITDA	49,228	185,042
Total assets	1,027,228	951,237
Capital expenditures	$ 52,792	$ 34,163

Segment Information (Reconciliation of EBITDA to Net Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Information [Abstract]
Net (loss) income	$ (29,001)	$ 107,860
Depreciation, depletion and amortization	45,349	39,423
Interest expense (net of interest income)	13,329	14,665
Income tax (benefit) expense	(4,112)	34,030
Other foreign exchange gains	(11,263)	(2,992)
Losses on idled assets	492	1,751
Decrease in provision for discounting and credit losses	(173)	(3,988)
Consolidated Adjusted EBITDA	14,621	190,749
Interest income	$ 3,000	$ 1,000

Segment Information (Reconciliation of Capital Expenditures) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital expenditures per Condensed Consolidated Statements of Cash Flows	$ 54,931	$ 54,839
Operating Segments [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital expenditures per Condensed Consolidated Statements of Cash Flows	54,931	54,839
Accruals For Capital Expenditures	22,150	4,098
Payment for capital acquired in prior periods	(10,790)	(11,242)
Net movement in deposits to acquire long lead capital items	6,007	(6,242)
Capital expenditures per segment detail	$ 72,298	$ 41,453

Segment Information (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total coal revenues	$ 632,993	$ 738,345
Other revenues	35,156	27,369
Total	668,149	765,714
Other and Corporate [Member]
Disaggregation of Revenue [Line Items]
Total	0	0
Metallurgical Coal [Member]
Disaggregation of Revenue [Line Items]
Total coal revenues	601,834	655,542
Thermal Coal [Member]
Disaggregation of Revenue [Line Items]
Total coal revenues	31,159	82,803
Australia Segment [Member] \| Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Total coal revenues	427,597	390,804
Other revenues	8,509	7,857
Total	436,106	398,661
Australia Segment [Member] \| Metallurgical Coal [Member] \| Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Total coal revenues	408,303	372,519
Australia Segment [Member] \| Thermal Coal [Member] \| Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Total coal revenues	19,294	18,285
United States Segment [Member] \| Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Total coal revenues	205,396	347,541
Other revenues	26,647	19,512
Total	232,043	367,053
United States Segment [Member] \| Metallurgical Coal [Member] \| Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Total coal revenues	193,531	283,023
United States Segment [Member] \| Thermal Coal [Member] \| Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Total coal revenues	11,865	64,518
United States Segment [Member] \| Total Coal Revenue [Member]
Disaggregation of Revenue [Line Items]
Termination fee revenue	$ 25,000	$ 17,500

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventories [Abstract]
Raw coal	$ 45,899	$ 55,998
Saleable coal	50,150	81,314
Total coal inventories	96,049	137,312
Supplies and other inventory	53,787	54,967
Total inventories	149,836	192,279
Net realizable value of inventory	$ 3,100	$ 2,400

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Total cost of property, plant and equipment	$ 2,535,373	$ 2,530,793
Less accumulated depreciation, depletion and amortization	1,032,934	1,024,356
Property, plant and equipment, net	1,502,439	1,506,437
Land [Member]
Property Plant And Equipment [Line Items]
Total cost of property, plant and equipment	28,471	28,282
Buildings And Improvements [Member]
Property Plant And Equipment [Line Items]
Total cost of property, plant and equipment	103,275	102,642
Plant, Machinery, Mining Equipment And Transportation Vehicles [Member]
Property Plant And Equipment [Line Items]
Total cost of property, plant and equipment	1,199,513	1,189,088
Mineral Rights And Reserves [Member]
Property Plant And Equipment [Line Items]
Total cost of property, plant and equipment	389,868	389,868
Office And Computer Equipment [Member]
Property Plant And Equipment [Line Items]
Total cost of property, plant and equipment	10,156	9,771
Mine Development [Member]
Property Plant And Equipment [Line Items]
Total cost of property, plant and equipment	560,488	579,717
Asset Retirement Obligation Asset [Member]
Property Plant And Equipment [Line Items]
Total cost of property, plant and equipment	85,288	88,384
Construction In Process [Member]
Property Plant And Equipment [Line Items]
Total cost of property, plant and equipment	$ 158,314	$ 143,041

Other Assets (Schedule of Other Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Assets [Abstract]
Prepayments	$ 27,643	$ 34,175
Long service leave receivable	7,889	8,438
Tax credits receivable	3,265	3,265
Deposits to acquire capital items	10,841	18,935
Short term deposits	21,674	21,906
Other	18,509	16,890
Total other current assets	$ 89,821	$ 103,609

Accrued Expenses and Other Current Liabilities (Schedule of Accrued Expenses and Other Current Liabilities) (Details) $ in Thousands, $ in Millions	Mar. 31, 2024 USD ($)	Dec. 31, 2023 AUD ($)	Dec. 31, 2023 USD ($)
Accrued Expenses and Other Current Liabilities [Abstract]
Wages and employee benefits	$ 43,926		$ 42,348
Taxes other than income taxes	7,764		6,728
Accrued royalties	58,701		45,770
Accrued freight costs	35,875		47,549
Accrued mining fees	101,955		89,622
Acquisition related accruals	0		53,700
Other liabilities	19,605		26,988
Total accrued expenses and other current liabilities	$ 267,826		312,705
Stamp duty payable		$ 79.0	$ 53,700

Dividends Payable (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Apr. 04, 2024	Mar. 31, 2024	Mar. 31, 2023	Feb. 19, 2024
Dividends Payable [Line Items]
Dividends declared				$ 8,400
Dividends Payable, Amount Per Share				$ 0.5
Dividends		$ 8,382	$ 8,382
Subsequent Event [Member]
Dividends Payable [Line Items]
Dividends	$ 8,300
Foreign exchange gain on dividend payments	$ 100

Leases (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset	$ 85,333	$ 80,899
Operating lease liabilities	87,893	$ 84,503
Equipment Embedded Within Mining Service Contracts [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset	13,300
Operating lease liabilities	$ 13,300
Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating leases have remaining lease terms	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Operating leases have remaining lease terms	5 years

Leases (Information Related To Right-Of Use Assets And Related Lease Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2020
Operating lease costs:
Operating lease costs	$ 7,568	$ 1,083
Cash paid for operating lease liabilities	6,108	2,080
Finance lease costs:
Amortization of right of use assets	33	31
Interest on lease liabilities	1	4
Total finance lease costs	34	$ 35
Operating leases:
Operating lease right-of-use assets	85,333		$ 80,899
Finance leases:
Property and equipment	2,535,373		2,530,793
Accumulated depreciation	(1,032,934)		(1,024,356)
Property and equipment, net	1,502,439		1,506,437
Current operating lease obligations	23,750		22,811
Operating lease liabilities, less current portion	64,143		61,692
Total operating lease liabilities	87,893		84,503
Current finance lease obligations	33		68
Finance lease liabilities, less current portion	0		0
Total Finance lease liabilities	33		68
Current lease obligation	23,783		22,879
Non-current lease obligation	64,143		61,692
Total Lease liability	$ 87,926		$ 84,571
Weighted Average Remaining Lease Term (Years)
Weighted average remaining lease term - finance leases	3 months 18 days		6 months
Weighted average remaining lease term - operating leases	3 years 9 months 18 days		3 years 8 months 12 days
Weighted Average Discount Rate
Weighted discount rate - finance lease	7.60%			7.60%
Weighted discount rate - operating lease	8.80%			9.00%
Finance Leases [Member]
Finance leases:
Property and equipment	$ 371		$ 371
Accumulated depreciation	(342)		(309)
Property and equipment, net	$ 29		$ 62

Leases (Maturities Of Lease Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Operating Lease
2024	$ 22,860
2025	30,505
2026	23,054
2027	14,852
2028	11,304
Thereafter	779
Total lease payments	103,354
Less imputed interest	(15,461)
Total operating lease liabilities	87,893	$ 84,503
Finance Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024	33
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total lease payments	33
Less imputed interest	0
Total Finance lease liabilities	$ 33	$ 68

Interest Bearing Liabilities (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	May 08, 2023
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 16,800,000
Senior Secured Notes due 2026 [Member]
Debt Instrument [Line Items]
Principal amount	$ 242,300,000
Interest rate	10.75%
Redemption price, percentage	101.00%
Debt Instrument, Maturity Date	May 15, 2026
Debt issuance costs	$ 6,339,000	$ 6,983,000
Senior Secured Notes due 2026 [Member] \| Debt Instrument, Redemption, During Twelve-month Period to May 15, 2023 [Member]
Debt Instrument [Line Items]
Redemption price, percentage	104.03%
Senior Secured Notes due 2026 [Member] \| Debt Instrument, Redemption, Any Time Prior to May 15 2023 [Member]
Debt Instrument [Line Items]
Redemption price, percentage	100.00%
Asset Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate			2.80%
Credit facility, maximum borrowing capacity			$ 150,000,000.0
Line of credit	$ 0
Review event period	20 days
Bank guarantees amount	$ 21,700,000
Asset Based Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Leverage ratio	3.00
Asset Based Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Interest coverage leverage ratio	3.00
Asset Based Revolving Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			70,000,000.0
Asset Based Revolving Credit Facility [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 100,000,000.0

Interest Bearing Liabilities (Summary of Interest Bearing Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Interest bearing liabilities	$ 235,987	$ 235,343
Senior Secured Notes [Member]
Debt Instrument [Line Items]
Long-term debt	242,326	242,326
Discount and debt issuance costs	$ (6,339)	(6,983)
Weighted Average Interest Rate	12.14%
Final Maturity	2026
Asset Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 0
Final Maturity	2026

Interest Bearing Liabilities (Summary of Debt Redemption Information) (Details) - Senior Secured Notes [Member]	3 Months Ended
	Mar. 31, 2024
Debt Instrument Redemption [Line Items]
Debt Instrument, Redemption Price, Percentage	101.00%
2024 [Member]
Debt Instrument Redemption [Line Items]
Debt Instrument, Redemption Price, Percentage	104.03%
2025 and thereafter [Member]
Debt Instrument Redemption [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended
Income Taxes (Narrative) (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Taxes [Abstract]
Effective tax rate	12.00%	24.00%
Income before tax	$ (33,113,000)	$ 141,890,000
Income Tax Expense (Benefit)	(4,112,000)	$ 34,030,000
Unrecognized Tax Benefits	0		$ 20,800,000
Discrete tax benefit	$ (100,000)

Earnings per Share (Schedule of Earnings Per Share) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares
Numerator:
Net (loss) income attributable to Company stockholders \| $	$ (29,001)	$ 107,860
Denominator:
Weighted-average shares of common stock outstanding	167,645	167,645
Effects of dilutive shares	0	307
Weighted average diluted shares of common stock outstanding	167,645	167,952
(Loss) Earnings Per Share (US$):
Basic \| $ / shares	$ (0.17)	$ 0.64
Diluted \| $ / shares	$ (0.17)	$ 0.64
Common stock conversion basis	10

Fair Value Measurement (Narrative) (Details)	Mar. 31, 2024 USD ($)
Fair Value, Measurements, Recurring
Derivatives, Fair Value [Line Items]
Financial Instruments Owned At Fair Value	$ 0
Fair Value, Inputs, Level 2 [Member]
Derivatives, Fair Value [Line Items]
Estimated fair value of the Notes	250,500,000
Asset Based Revolving Credit Facility [Member]
Derivatives, Fair Value [Line Items]
Line of credit	$ 0

Accumulated Other Comprehensive Losses (Schedule of Accumulated Other Comprehensive Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning of period	$ (89,927)
Net current-period other comprehensive loss:
Total other comprehensive loss	(23,288)	$ (4,503)
Accumulated other comprehensive income, end of period	(113,215)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning of period	(89,927)
Net current-period other comprehensive loss:
Loss in other comprehensive income before reclassifications	(5,265)
Loss on long-term intra-entity foreign currency transactions	(18,023)
Total other comprehensive loss	(23,288)
Accumulated other comprehensive income, end of period	$ (113,215)

Commitments (Narrative) (Details) $ in Millions	3 Months Ended
Commitments (Narrative) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Commitments [Abstract]
Purchase commitments for capital expenditures	$ 68.6
Take-or-pay arrangement term	13 years
Take-or-pay arrangements, total	$ 723.0
Take-or-pay arrangements, due within the next year	$ 90.0

Commitments (Future Minimum Royalties) (Details) - Royalty Agreements [Member] $ in Thousands	Mar. 31, 2024 USD ($)
Other Commitments [Line Items]
2024	$ 4,228
2025	5,474
2026	5,338
2027	5,300
2028	5,243
Thereafter	25,397
Total	$ 50,980

Contingencies (Narrative) (Details) $ in Millions	3 Months Ended
Contingencies (Narrative) (Details) $ in Millions	Mar. 31, 2024 AUD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 27, 2022 AUD ($)	Sep. 27, 2022 USD ($)
Loss Contingencies [Line Items]
Company guarantees			$ 41,000,000.0
Restricted deposits			68,884,000	$ 68,660,000
Restricted deposits			68,900,000	$ 68,700,000
Letters of Credit Outstanding, Amount			16,800,000
Surety bonds			46,700,000
Taxation Administration Act 2002, total assessed stamp duty, amount	$ 82.2	$ 56,200,000
Taxation Administration Act 2002, total assessed stamp duty unpaid interest, amount	21.2	14,500,000
Acquisition related accruals [Member]
Loss Contingencies [Line Items]
Loss contingency accrual	$ 43.0		29,400,000
Stamp duty on Curragh acquisition [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss					$ 82.2	$ 56,200,000
Bank guarantees certain rail and port arrangements [Member]
Loss Contingencies [Line Items]
Company guarantees			24,200,000
Bank guarantees [Member]
Loss Contingencies [Line Items]
Loss contingency accrual			0
Asset Based Revolving Credit Facility [Member]
Loss Contingencies [Line Items]
Line of credit			0
Cash Collateral			0
Proceeds from debt		21,700,000
Letters of credit outstanding after expiration or termination date			$ 0
Asset Based Revolving Credit Facility [Member] \| Bank guarantees certain rail and port arrangements [Member]
Loss Contingencies [Line Items]
Proceeds from debt		$ 4,900,000

Related-Party Transactions (Narrative) (Details) - Majority Shareholder [Member] - Membership Interest Purchase Agreement [Member] - Coronado Group LLC [Member]	Mar. 31, 2024 shares
Common Stock [Member]
Related Party Transaction [Line Items]
Shares Outstanding	84,506,140
Ownership percentage	50.40%
CDIs [Member]
Related Party Transaction [Line Items]
Shares Outstanding	845,061,399
Series A Share [Member]
Related Party Transaction [Line Items]
Shares Outstanding	1

Insider Trading Arrangements (Details)	3 Months Ended
Insider Trading Arrangements (Details)	Mar. 31, 2024
Insider Trading Arr [Line Items]
Rule 10b 51 Arr Adopted Flag	false
Rule 10b 51 Arr Trmntd Flag	false
Non Rule 10b 51 Arr Trmntd Flag	false
Non Rule 10b 51 Arr Adopted Flag	false

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CODQL Coronado Global Resources Inc (PK)