Reserves at December 31, 2023
Mineral Resources are reported inclusive of Mineral Reserves.
Summary:
Buchanan is a production-stage mining property, consisting of one active underground mine and supporting infrastructure that produces Low-Vol Met coal using the longwall mining method.
The Buchanan mine extracts coal from the Pocahontas #3 seam of the Pennsylvanian-age Pocahontas Formation, which is the principal minable coal seam of that formation. The seam is situated below drainage throughout the Property and is accessed by vertical shafts. The seam thickness averages 1.57 meters within the mining area.
The Buchanan mine extracts coal using a single longwall system supported by six continuous miner sections, which develop main entries and gate roads in preparation for the longwall. Each continuous miner section is equipped with one or two continuous miners, two roof bolters and two or three coal haulage units. After extraction, a series of conveyor belts deliver raw coal to an underground storage bunker. The Buchanan mine complex uses a skip hoist system to lift raw coal to the surface.
Longwall production is scheduled for approximately 295 to 312 days each year, which represents production on Monday through Saturday with allowances for holidays and longwall moves. On each day, the continuous mining sections and longwall produce coal on three shifts. The sections are configured as regular sections with one continuous miner available for production on each section. Productivity is planned at the rate of 18.8 meters to 20.7 meters of advance per shift of operation for the continuous miner sections, and 4.42 meters to 7.32 meters per shift of longwall retreat. A second longwall is scheduled to begin production in the first quarter of 2025.
The BuchananMine is currently Coronado’s only longwall operation. The longwallshearing machine is used for extraction of coal at the production face. A chain conveyor is used to remove coal from the longwall face for discharge onto the conveyor belt which then ultimately delivers it to an underground storage bunker. Development for the longwall is conducted by the extraction of coal from the production faces using continuous miners and haulage using shuttle cars to a feederbreaker located at the tail of the section conveyor belt. The feeder-breaker crushes large pieces of coal and rock and regulates coal feed onto the mine conveyor. Roof-bolting machines are used to support the roof on the development sections of the longwall mines. Roof-bolting machines are used to install roof bolts, and battery scoops are available to clean the mine entries and assist in delivery of mine supplies towork areas. Other supplemental equipment such as personnel carriers, supply vehicles, etc., are also used daily.
Mine conveyors typically range in width up to 1.83 meters. Multiple belt flights are arranged in series to deliver raw coal to the underground storage. Along the main and sub-main entries and panels, a travel way is provided for personnel and materials by rubber-tired equipment or on rail. The Buchanan No. 1 Mine utilizes a skip hoist in order to transport ROM coal from the underground storage bunker to the surface where the coal may be sampled, crushed and washed in the preparation plant and stockpiled to await shipment.
Surface ventilation fans are installed as needed to provide a sufficient volume of air to ventilate production sections, coal haulage and transport entries, battery charging stations, andtransformers in accordance with approved plans. High-voltage cables deliver power throughout the mine where transformers reduce voltage for specific equipmentrequirements. A total of 717 salary and hourly employees are assigned to the mine beginning in 2029 when 2 longwall sections and 8 continuous miner sections are projected to be in operation.
In late 2023, the Buchanan mine completed critical capital longwall development works in the south district of the mine. The completion of these capital works allows for the mine to operate an additional underground district, with new equipment, and allows for more operational flexibility for mining from both the north and south areas of the mine in 2024 and beyond.
Mining underway in the newly developed South District, utilising new equipment. Capital works continue to invest in the construction of a new surface raw coal storage area to increase the mine’s storage capacity, ultimately reducing the risk of bottlenecks and allowing the longwall equipment to run at a higher capacity (Scheduled completion of the excavation works is April 2024, with the full project completion expected in early 2025).
Construction of a second set of skips to increase the mines hoisting capacity to the surface continue (Excavation works for the production hoist and surface infrastructure ~40% complete. Project completion expected mid-2025).