Coronado Global Resources Inc.

Thank you for standing by and welcome to the Coronado Global Resources Second Quarter Investor Call. All participants are in a listen-only mode. There will be discussion of results from the CEO and CFO, followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Andrew Mooney, Vice President, Investor Relations and Communications. Please go ahead.

Thank you operator and thank you everyone for joining Coronado's second quarter investor call. Today we released our quarterly report to the ASX and SEC in which we outline our production and sales volumes as well as other key information related to our safety results, coal markets and financial performance. A more detailed outline of our financial position and results will be released to the market on the 8th of August with our Form 10Q and half year earnings release. Today, I'm joined by our Managing Director and CEO, Douglas Thompson, and our Group CFO, Gerhard Zins. Within our report, you will see our notice regarding forward-looking statements and reconciliations of certain non-US GAAP financial measures. We encourage you to review these statements in conjunction with our other filings for the ASX and SEC. I also remind everyone that Coronado quotes all numbers in US dollars and metric tonnes unless otherwise stated. With that, I hand over to Douglas.

Thanks, Andrew, and thanks to all of you who've made the time to join our call today. The Coronado team performed well in the June quarter. We continue to deliver according to our business plan, and the quarter saw several milestones achieved. These will set the company up well, not only for the remainder of 2023, but also into the future. The business delivered quarter-on-quarter higher production, waste movements, and sales volumes. While we maintained our strong balance sheet and healthy liquidity, and continue to progress our growth initiatives. In addition, the team further improved upon our recordable safety rate year-on-year. We also released our fifth sustainability report that reflects a reduction in emissions year-on-year. We successfully negotiated a new four-year enterprise agreement at Currah, and we continue to invest capital into our organic growth pipeline and emissions reduction projects. And today I'm pleased to report that the Board of Directors officially supported by their approval the Curra North Underground Metco project for development. This project underpins our organic growth strategy. It delivers salable production of 13.5 million tonnes from Curra by 2025. The project also aligns to our diversity strategy, where we're seeking to get coal supply from our open cuts and underground from this complex and thereby reducing risk. Coronado has extensive experience in running underground mines. We've operated long wall and board and pole operations in the US for many years very successfully. I'm also pleased to report that the Buchanan expansion project is on program and budget. And upon full ramp up, the Currah and Buchanan expansion projects are targeting to have the business producing salable production of 20.5 million tons by 2025. In the June quarter, the board also approved a change to our operating model, a change which will ensure we leverage the full potential of this business, notably organizational change to have a global chief operating officer. Gerd will elaborate further on our financial position shortly, but I'd like to draw to your attention that the business generated nearly $1.5 billion of revenue in the first half of 2023. This is the second highest first half revenue performance since the group's inception. Before we focus further on financial and production results, I'd like to turn our attention to safety. Our business is our people. Their safety and well-being is Coronado's number one priority. And I'm pleased to advise the relentless efforts of our people management leadership has shown in our improved results. and the fact that our businesses' recordable rates continue to be well below relevant industry averages. In Australia, the 12-month total recordable injury frequency rate as of June was 2.52 compared to 3.18 at the end of March, reflecting a 21% improvement. This is 38% better than this time last year. And in the U.S., the 12-month total reportable incident rate was 2.05 compared to 2.43 at the end of March, reflecting a 16% improvement quarter on quarter. And if we go to the group level, a total reportable incident rate as at the end of June was 1.09 compared to 1.29 at the same time last year, once again reflecting a 16% improvement. During the quarter, our Logan complex achieved a million man hours lost time free. This is the first time this complex has achieved this milestone since inception. Mining started at the Logan complex in 2005 and is truly a tremendous effort by our team. In the quarter, our current team continued their work on the dragline proximity awareness program. The intent of this is to reduce the risk of personnel and equipment interactions with our drag lines and promote enhanced work safe environment. The rollout of the technology will continue across all the drag lines and we expect this to be completed by the end of the year. We are making our learnings in this regard freely available to the whole industry as we and the industry strive to make our workplaces safer for all. Turning to our operational performance, Coronado completed the second quarter with group run of mine coal production at 7.2 million tonnes. This is more than a 15% improvement on the March quarter. And salable production at 4.5 million tonnes. This is a 22% improvement on the March quarter. The Curragh complex had an excellent quarter, building on a solid month of March production. The mine delivered ROM coal production of 3.8 million tonnes and saleable production of 3 million tonnes. This is a 41 and a 44% improvement respectively. Currah has averaged a saleable production run rate of approximately 1 million tonnes per month for the last four months. And the 3.8 million tonnes ROM production delivered in the June quarter by Currah is the best performance since September 2020. In addition, Currah significantly advanced the waste movement works during the quarter. June quarter waste movement was 25% higher than the March quarter, setting the mine up well for continued coal exposures for the second half of the year. What's significant to note is in the June quarter, prime waste movement was the highest in nearly the 40-year history of the Currah complex. These impressive results are a combination of the team's focus on executing the improvement actions identified in the One Currah Plan and the improved weather conditions compared to prior quarters. On the 6th of July, the company successfully negotiated a new four-year enterprise agreement with the workforce at Currah. The new EA enables workforce stability, but also demonstrates Coronado's commitment to our employees in recognizing their valuable contribution and overall well-being. The U.S. operations continued with their performance and had another very strong quarter. Long coal production was 3.4 million tons, and salable production was 1.6. In the quarter, Buchanan did a successful long-rule move. and only required four days outies to achieve the move. This is substantially shorter than any of our peers in the underground environment, and this is a result of the good capitalization that we have at Buchanan with the two long walls. Also pleasing is the performance at the Logan Complex. Eagle No. 1 once again in this quarter set a new production record in May, and their performance continues to be strong. Rail performance, Also improved during the quarter following some delays that we saw in late March. Sales volumes across our group for the June quarter were 4 million tonnes. This is an 8.3% improvement on the prior quarter. And across Australia and the US, 2.5 million tonnes and 1.5 million tonnes respectively for sales. The strong June production rates and some slippage into July saw Currah finish June with high inventory bulls. This inventory stock will be sold during July and we expect to see returns to average stockpile levels in the September quarter. Coronado anticipates continuing to deliver improved production performance and we maintain our existing production guidance. This obviously reflects on things beyond our control like the weather conditions in September and December. And with this, I'll hand over to Gerhard. We'll take you through our financial position and some market outlook.