May 25, 2026 - ASX-listed Coronado Global Resources has signed an agreement to divest ownership of its coal assets comprising the Logan Mining Complex in West Virginia.

Coronado agreed to sell 100% of its interest in Coronado Coal – the entity holding the Logan Mining Complex – to Phoenix Coal Holdings, which is a Kentucky-based company owned by coal stalwart Mitch Potter.

The Logan Mining Complex comprises coal mining properties, leases, mining permits and related infrastructure, including a preparation plant and loadout facility.

The consideration for the sale will comprise of nominal cash together with the assumption by the purchaser of certain liabilities, including reclamation and post-closing operational obligations.

The transaction is expected to be free cash flow positive for Coronado, given the elimination of care-and-maintenance costs, holding costs and future obligations associated with the mine.

The sale aligns with Coronado’s ongoing strategy to optimize its asset portfolio and focus on core, higher-return metallurgical coal operations.

The companies expect the transaction to complete in July.

““This transaction represents a further step in streamlining Coronado’s portfolio and focusing on our high-quality core assets. The divestment transfers future obligations associated with Logan Mining Complex while enabling us to prioritize capital and operational focus elsewhere,” affirms interim CEO Gerry Spindler.