Abstract <p>In this paper, a new type of ammonium nitrate explosive was prepared by replacing diesel with liquid coal-based fuel. The production process of this explosive was determined by studying the influence of raw coal calorific value, addition amount of liquid coal-based fuel and storage time of new types of explosives on the explosive performance such as detonation velocity, brisance and work ability of explosive. The experimental results indicate that the higher the calorific value of raw coal, the higher the detonation velocity of the new liquid coal-based fuel ammonium nitrate explosive, in which the content of liquid coal-based fuel prepared by raw coal calorific value 5500 kcal/kg is 9–12%, the performance of the explosive is relatively stable and reaches the best state: detonation velocity is 2800–3000 m/s, the intensity is increased by 7–10% compared to ammonium oil explosive, and the work capacity is increased by 8–24% compared to ammonium oil explosive. There is minor change in the physical and chemical properties within a storage period of 30 days. At the same time, it was found that the blast performance of the explosives is greatly improved by the addition of a composite additive consisting of a new liquid coal-based fuel, diesel fuel and emulsifier. Industrial trial production and blasting tests were completed in the Heidaigou open-pit mine. The test results show that this new explosive has a significant improvement in brisance and working ability compared to ammonium oil explosive, and the blasting effect is good.</p>