Mongolian Mining Reports First Quarter Operational Update
KUALA LUMPUR, April 16 (Bernama) -- Mongolian Mining Corporation, the largest internationally listed private mining company in Mongolia, has released its unaudited operational update for the quarter ended March 31.
The company and its subsidiaries (the group) operate in the southern and western regions of Mongolia, focusing on coking (metallurgical) coal, gold, copper, and other non-ferrous metals mining assets, according to a statement.
Energy Resources LLC (ER) is the group’s wholly owned subsidiary that operates the Ukhaa Khudag (UHG) coking coal mine, while Khangad Exploration LLC (KEX) is its majority-owned subsidiary, operating the Baruun Naran (BN) coking coal mine, both located in the Umnugobi aimag (province), Mongolia.
During the quarter ended March 31, the group’s run-of-mine (ROM) coal mining combined output from UHG and BN mines was 3.6734 million tonnes (Mt), marking a three per cent year-on-year (YoY) increase and remaining unchanged compared to the previous quarter.
In addition, the group processed a total of 3.7495 Mt of ROM coking coal to produce 2.1100 Mt of washed coking coal products, reflecting a two per cent YoY decrease compared to the corresponding period ending March 31, 2024.
In the first quarter of 2025, ER and KEX have sold a total of 1.6004 Mt of washed coking coal products, whilst the washed coking coal product mix supplied by the group to its customers was 1.0794 Mt (washed hard coking coal), 72.2 thousand tonnes (kt) (washed semi-soft coking coal), and 448.7 kt (washed mid-ash semi-hard coking coal).
The group is a 50 per cent equity holder of Erdene Mongol LLC (EM), which is currently developing the Bayan Khundii (BKH) gold mine located in Bayankhongor aimag (province), Mongolia, with gold production expected to commence in the second half of this year.
It has continued with project development to advance construction work at the BKH mine, which has an expected life of mine total production of 476 thousand ounces of recovered gold, according to the updated feasibility study prepared in 2023 in accordance with NI 43-101 reporting standards.
-- BERNAMA