v3.25.4
Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2025
Asset Retirement Obligations [Abstract]  
Asset Retirement Obligations
13.
Asset Retirement Obligations
Reclamation of
areas disturbed
by mining
operations
must be
performed
by the
Company in
accordance
with
approved
reclamation
plans
and
in
compliance
with
state
and
federal
laws
in
the
states
of
West
Virginia
and
Virginia
in
the
United
States
and
Queensland
in
Australia.
For
areas
disturbed,
reclamation
is
performed
progressively,
however,
a
significant
amount
of
the
reclamation
will
take
place
in
the
future
when
operations
cease. There were
no
assets that were
legally restricted for
purposes of settling asset
retirement obligations as
of December 31,
2025 and 2024.
In addition, state
agencies monitor
compliance with the
mine plans, including
reclamation.
The Company records the fair value
of its asset retirement obligations using the present
value of projected future
cash flows, with
an equivalent amount
recorded in the
related long lived
asset or a
change to the
Consolidated
Statements
of
Operations
and
Comprehensive
Income
if
the
related
permit
is
closed.
An
accretion
cost,
representing the increase
over time
in the present
value of
the liability, is recorded
each period and
the capitalized
cost
is
depreciated
over
the
useful
life
of
the
related
asset.
As
reclamation
work
is
performed
or
liabilities
otherwise settled, the recorded amount of the liability
is reduced.
Changes in the Company’s asset retirement obligations
for the years ended December 31, 2025 and December
31, 2024 were as follows:
(US$ thousands)
2025
2024
Total
asset retirement obligations at beginning of the year
$
164,798
$
163,929
ARO liability relating to mining assets and development
properties disposed
(8,202)
—
ARO liability additions - new disturbances
669
1,997
Accretion
13,505
15,324
Reclamation performed in the year
(5,106)
(9,724)
Change in estimate recorded to operations
(2,009)
(3,523)
Change in estimate recorded to assets
(17,326)
5,937
Foreign currency translation adjustment
8,037
(9,142)
Total
asset retirement obligations at end of the year
154,366
164,798
Less current portion
(10,978)
(15,523)
Total
asset retirement obligations, excluding current portion, at the
end of the
year
$
143,388
$
149,275