v3.25.2
Commitments
6 Months Ended
Jun. 30, 2025
Commitments [Abstract]  
Commitments
16.
 
Commitments
(a)
 
Mineral Leases
The
 
Company
 
leases
 
mineral
 
interests
 
and
 
surface
 
rights
 
from
 
land
 
owners
 
under
 
various
 
terms
 
and
 
royalty
rates. The future
 
minimum royalties
 
and lease rental
 
payments under
 
these leases
 
as of
 
June 30, 2025
 
are as
follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in US$ thousands)
Amount
Year ending
 
December 31,
2025
$
2,752
2026
4,122
2027
4,084
2028
4,027
2029
4,016
Thereafter
17,687
Total
$
36,688
Mineral leases are not
 
in scope of ASC
 
842 and continue to
 
be accounted for
 
under the guidance in
 
ASC 932,
Extractive Activities – Mining.
(b)
 
Other commitments
As of June 30, 2025, purchase commitments for capital expenditures were $
27.7
 
million, all of which is obligated
within the next twelve months.
In Australia, the
 
Company has generally
 
secured the ability
 
to transport coal
 
through rail contracts
 
and coal export
terminal contracts that are primarily funded
 
through take-or-pay arrangements with terms ranging up to
12 years
.
 
In the U.S.,
 
the Company
 
typically negotiates
 
its rail and
 
coal terminal
 
access on
 
an annual
 
basis.
 
As of
 
June
30,
 
2025,
 
these
 
Australian
 
and
 
U.S.
 
commitments
 
under
 
take-or-pay
 
arrangements
 
totaled
 
$
626.0
 
million,
 
of
which approximately $
21.0
 
million is obligated within the next twelve months.