Company: NC
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000789933-25-000006
Chunk: 98

Company: NACCO INDUSTRIES INC
Filing Date: 2025-03-05
Form: 10-K
Item: Item 2
Chunk 98
---
Measured4,4005,20044.613.00.6Mississippi Lignite Mining CompanyIndicated4005,18044.113.60.6Mississippi Lignite Mining CompanyMeasured + Indicated4,7005,20044.513.00.6Mississippi Lignite Mining CompanyInferred1005,20045.512.00.5

Note:

–Mineral Resources estimates have been prepared by a qualified person employed by NACCO Natural Resources as of December 31, 2024.

–Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability and there is no certainty that all or any part of such Mineral Resources will be converted into Mineral Reserves.  

–Mineral Resources are in-situ and exclusive of 22.9 million tons (Mt) of Mineral Reserves.

–Mineral Resources are reported using an economic cutoff of $34.02 per ton.

–Resources are presented with a minimum 1 foot seam thickness, a maximum as received moisture basis ash content of 30%, and a minimum calorific value of 4000 BTU/lb on an as received moisture basis cutoff.  

–Resources are estimated using Vulcan Software. 

–Tonnages and qualities have been rounded to an accuracy level deemed appropriate by the QP. Summation errors due to rounding may exist.   

33

Table 2.2 Mineral Resources Summary as of December 31, 2024

The Mineral Reserves as of December 31, 2024 presented in Table 2.3 below were determined to be the economically mineable portion of the measured and indicated Mineral Resources after the consideration of modifying factors related to the mining process. Inferred Mineral Resources were not considered for Mineral Reserves.

Lignite CoalReserve ClassificationTonnage(Kt)Grades/QualitiesCalorific Value (Btu/lb)Moisture (%wt)Ash (%wt)Sulfur (%wt)Mississippi Lignite Mining CompanyProven18,2005,09043.314.90.6Mississippi Lignite Mining CompanyProbable4,7005,08043.115.10.6Mississippi Lignite Mining CompanyTotal22,9005,09043.314.90.6

Note:

–Mineral Reserves Estimates have been prepared by a qualified person employed by MLMC as of December 31, 2024.

–Mineral Reserves have been demonstrated to be economic based on a positive cash flow

–