Mongolian Mining Corporation Reports Lower FY2025 Earnings

KUALA LUMPUR, March 18 (Bernama) -- Mongolian Mining Corporation (MMC) reported lower earnings for the financial year ended Dec 31, 2025 (FY2025), with total revenue declining to US$823.4 million from US$1.04 billion a year earlier. (US$1=RM3.90)

The company in a statement said US$792.1 million of the revenue was generated from its coking (metallurgical) coal operations, while US$31.3 million came from its gold and metals segment.

Its Chief Executive Officer, Dr Battsengel Gotov said the company remains focused on strengthening its financial position and expanding its operational footprint, while highlighting the commencement of gold production at the Bayan Khundii mine as a key milestone supporting revenue diversification.

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MMC sold a total of 10.1 million tonnes (Mt) of coal products during the year, including 4.9 Mt of washed hard coking coal, 0.5 Mt of washed semi-soft coking coal and 2.9 Mt of washed mid-ash semi-hard coking coal. The average selling price (ASP) for washed coal products stood at US$82.2 per tonne.

The company also sold 7,434 ounces of gold and 2,634 ounces of silver to the Bank of Mongolia and its designated commercial banks, generating US$31.3 million in revenue. The weighted ASP was US$4,187 per ounce for gold and US$54 per ounce for silver.

Gross profit for FY2025 fell to US$144.0 million from US$411.7 million previously, while profit attributable to equity shareholders declined sharply to US$6.1 million from US$242.0 million, mainly due to lower ASP of washed coking coal products.

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MMC is the largest internationally listed private mining company in Mongolia and a leading producer and exporter of washed hard coking coal.

-- BERNAMA