Coronado Global Resources (ASX:CRN) has amended its forecasts for the balance of 2023.
Mining activities at the Buchanan mine were temporarily impacted by geological conditions in the coal seam during the September quarter.
Efforts are being made to recover these lost tons in the final quarter of 2023 and the first quarter of 2024.
In mid-September, there was a mechanical failure in the propel unit of one of the draglines at Curragh.
Production from Curragh will be impacted in FY23 due to the ensuing delay in waste removal.
Average mining costs per tonne sold for FY23 have been revised to be between US$97.0 - US$102.0.
Repairs at Curragh are already underway and expected to be finished by the end of October.
The revised FY23 guidance for saleable production is between 16.2 MT - 16.4 MT.
The company does not predict a significant cash impact in FY23.
The revised FY23 guidance for capital expenditure is $220 million - $240 million.
They also expect to see further support for increasing metallurgical coal pricing for the remainder of 2023 and into 2024.
Coronado Global Resources is a company involved in mining and the production of coal.