Core Viewpoint - Mongolian Mining Corporation reported a significant decrease in coal production and sales for the quarter ended June 30, 2025, while also providing updates on its gold mining operations, particularly the commissioning of the Bayan Khundii gold mine [2][5][12]. Group 1: Coking Coal Operations - The Group is the largest producer and exporter of washed coking coal products in Mongolia, operating the Ukhaa Khudag and Baruun Naran coking coal mines [4][3]. - The combined output of run-of-mine (ROM) coal from UHG and BN mines was 3,428.4 thousand tonnes, reflecting a 7% quarter-on-quarter (QoQ) and 28% year-on-year (YoY) decrease [5]. - A total of 3,605.7 thousand tonnes of ROM coking coal was processed, resulting in 2,178.1 thousand tonnes of washed coking coal products, which is a 3% QoQ increase but a 2% YoY decrease [6][10]. - The total sales of washed coking coal products were 1,739.7 thousand tonnes, showing a 9% QoQ increase but a 25% YoY decrease [7][10]. Group 2: Gold and Metals Operations - The Group holds a 50% equity stake in Erdene Mongol LLC, which is developing the Bayan Khundii gold mine [11]. - The commissioning of the BKH gold mine processing plant and related facilities was conducted, with commercial production expected to start in the third quarter of 2025 [12].
Mongolian Mining Corporation Operational Update for the Quarter Ended 30 June 2025
Globenewswireยท2025-07-25 03:19