v3.26.1
Commitments
6 Months Ended
Jun. 30, 2026
Commitments [Abstract]  
Commitments
18.
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, 2026 were
as
follows:
(in US$ thousands)
Amount
Year
ending
December
31,
2026
$
3,277
2027
4,321
2028
4,288
2029
4,282
2030
7,837
Thereafter
19,863
Total
$
43,868
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, 2026,
purchase
commitments
for capital
expenditures
were $
8.1
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,
2026,
these
Australian
and
U.S.
commitments
under
take-or-pay
arrangements
totaled
$
553.0
million,
of
which the
Company
is obliged
to
pay
approximately
$
101.9
million
within the next twelve
months.