v3.26.1
Commitments
3 Months Ended
Mar. 31, 2026
Commitments [Abstract]  
Commitments
17.
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 March
31, 2026
were
as follows:
(in US$ thousands)
Amount
Year ending
December 31,
2026
$
3,492
2027
3,893
2028
3,861
2029
3,854
2030
7,371
Thereafter
19,526
Total
$
41,997
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 March 31, 2026, purchase commitments for capital expenditures were $
5.8
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 March
31,
2026,
these
Australian
and
U.S.
commitments
under
take-or-pay
arrangements
totaled
$
595.0
million,
of
which
the Company is obliged to pay approximately $
101.8
million within the next twelve months.