The Company is self-insured for certain risks, including physical damage and operational liability, related to our non-leased underground mining equipment. The Company records a liability for self-insured risks when a loss is both probable and reasonably estimable. The Company had no accrual for self-insurance liabilities as of June 30, 2026 or December 31, 2025.

The Company also self-insures for a portion of its workers’ compensation claims under a guaranteed cost program. Under this program, the Company is responsible for the first $1.0 million per claim up to an aggregate of $4.0 million annually. As of June 30, 2026 and December 31, 2025, the Company has restricted cash of $4.0 million and $3.0 million, respectively, for future workers’ compensation claim payments. The Company had $5.4 million and $5.2 million of workers’ compensation reserve as of June 30, 2026 and December 31, 2025, respectively, in accrued liabilities on the condensed consolidated balance sheets.