Coronado leans on cost cuts and two growth projects through a weak coal cycle
Glennon Small Companies details progress at Mammoth and Buchanan as metallurgical coal prices soften
12 Sep 2025 · 2 min read
In short
Glennon Small Companies said Coronado Global Resources (ASX:CRN) reported a half-year net loss of approximately USD 172 million.
The company idled higher-cost U.S. surface operations and pursued operational restructuring in response to weaker coal prices.
Glennon Small Companies pointed to the Mammoth underground mine at Curragh and the Buchanan expansion as sources of future lower-cost production.
Coronado Global Resources' half-year results told a story of a coal producer working through a weak pricing cycle while pointing to lower-cost projects it hopes will change the equation over time.
Glennon Small Companies said in a Monthly Report in September 2025 that Coronado Global Resources released its half-year results, reporting a net loss of approximately USD 172 million. The manager said the result reflected weaker metallurgical coal prices, softer demand and rising operating costs, which weighed heavily on revenue and margins.
Cost cuts and two projects doing the heavy lifting
In response to the weaker pricing environment, Glennon said the company moved to cut costs, including idling higher-cost U.S. surface operations, while continuing to pursue operational restructuring. Despite the headwinds, the manager noted Coronado highlighted progress at strategic projects such as the Mammoth underground mine at Curragh and the Buchanan expansion, which are expected to deliver lower-cost production and incremental volumes over time.
Coronado highlighted progress at strategic projects such as the Mammoth underground mine at Curragh and the Buchanan expansion, which are expected to deliver lower-cost production and incremental volumes over time.
— Glennon Small Companies, Monthly Report, September 2025
What managers are watching next
With the disclosed commentary centred on a single reporting period, the thesis as described by Glennon Small Companies rests on whether Coronado's cost-out program and the ramp of Mammoth and Buchanan can offset a soft metallurgical coal price environment. Investors following the stock will be watching subsequent updates for confirmation that those lower-cost volumes are coming through as expected.
Questions
Why did Coronado Global Resources report a net loss?
Glennon Small Companies said in September 2025 that Coronado's net loss of approximately USD 172 million reflected weaker metallurgical coal prices, softer demand and rising operating costs.
What cost measures has Coronado taken?
Glennon Small Companies said Coronado moved to cut costs, including idling higher-cost U.S. surface operations, while continuing to pursue operational restructuring.
Which growth projects is Coronado pursuing?
Glennon Small Companies highlighted progress at the Mammoth underground mine at Curragh and the Buchanan expansion, which are expected to deliver lower-cost production and incremental volumes over time.
4 managers, 6 comments, with each manager's latest recorded position.
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