Mongolian Mining Corporation Announces 2025 Annual Results

Core Viewpoint - Mongolian Mining Corporation (MMC) reported a significant decline in revenue and profit for FY2025, primarily due to lower average selling prices of washed coking coal products, while also marking a milestone with the commencement of gold production at its Bayan Khundii mine [2][5][6]. Financial Performance - The Group generated total revenue of USD823.4 million in FY2025, down from USD1,039.9 million in FY2024 [2]. - Revenue from coking coal operations was USD792.1 million in FY2025, compared to USD1,039.9 million in FY2024 [2]. - The Group's gross profit for FY2025 was approximately USD144.0 million, a decrease from USD411.7 million in FY2024 [5]. - Profit attributable to equity shareholders for FY2025 was USD6.1 million, down from USD242.0 million in FY2024 [5]. Sales and Production - The Group sold a total of 10.1 million tonnes of coal products in FY2025, including 4.9 million tonnes of washed hard coking coal, 0.5 million tonnes of washed semi-soft coking coal, and 2.9 million tonnes of washed mid-ash semi-hard coking coal [3]. - The average selling price for all washed coal products was USD82.2 per tonne in FY2025 [3]. - In 2025, the Group sold 7,434 ounces of gold and 2,634 ounces of silver, generating total revenue of USD31.3 million, with average selling prices of USD4,187 per ounce for gold and USD54 per ounce for silver [4]. Strategic Outlook - The CEO of MMC emphasized the company's commitment to maintaining a strong balance sheet while pursuing operational expansion and strategic investment opportunities in Mongolia [6]. - The commencement of gold production at the Bayan Khundii mine is seen as a significant milestone for revenue diversification [6]. Company Overview - MMC is the largest producer and exporter of washed coking coal products in Mongolia and operates in the southern and western regions of the country [7]. - The company owns and operates the Ukhaa Khudag and Baruun Naran open-pit coking coal mines [7]. - MMC holds a 50% equity interest in Erdene Mongol LLC and a 50.5% equity interest in Universal Copper LLC, which have mining licenses in Mongolia [8].