Mongolian Mining Corporation Announces 2025 Interim Results

Core Viewpoint - Mongolian Mining Corporation (MMC) reported a significant decline in revenue and net profit for the first half of 2025, primarily due to lower average selling prices and a one-off loss related to debt refinancing, while also advancing its gold mining project which is expected to positively impact future performance [2][3][5]. Financial Performance - The Group generated total revenue of approximately USD346.6 million in 1H2025, a decrease of about 35.9% compared to USD541.1 million in 1H2024 [2]. - The Group sold approximately 4.2 million tonnes of washed coal products, maintaining sales volume similar to the first half of 2024, but revenue declined due to softened average selling prices [2]. - Gross profit for the period was approximately USD62.9 million, with a net loss attributable to equity shareholders of approximately USD23.3 million, contrasting with a net profit of USD133.0 million in the same period of 2024 [3]. Operational Developments - MMC advanced construction works for the Bayan Khundii (BKH) gold mine, with commissioning of the processing plant and site support facilities completed, and initial overburden removal operations commenced [4]. - Commercial gold production at the BKH mine is expected to begin within the third quarter of 2025 [4]. Strategic Outlook - The CEO of MMC expressed commitment to corporate strategies that secure the company's position as the largest internationally listed private mining company in Mongolia, noting improved market sentiment starting from the third quarter of 2025 [5]. - The company aims to maintain a prudent financial policy and a strong balance sheet while diversifying its business portfolio and identifying potential investment targets in Mongolia [5].