Mongolian Mining Corporation Posts Strong Q3 Coal Sales, Begins Gold Production

KUALA LUMPUR, Oct 16 (Bernama) -- Mongolian Mining Corporation, the largest internationally listed private mining company in Mongolia, has announced its unaudited operational update for the quarter ended Sept 30, 2025 (Q3).

The group, which operates a diversified portfolio of mining assets across coking (metallurgical) coal, gold, copper, and other non-ferrous metals in Mongolia, reported strong quarterly coal sales and marked a significant milestone with the launch of commercial gold production at its Bayan Khundii (BKH) mine.

The group’s wholly owned subsidiary, Energy Resources LLC (ER), operates the Ukhaa Khudag (UHG) coking coal mine, while its majority-owned subsidiary, Khangad Exploration LLC (KEX), operates the Baruun Naran (BN) coking coal mine, according to a statement.

In Q3 2025, the group’s subsidiaries ER and KEX sold a combined 2,303.2 thousand tonnes (kt) of washed coking coal, representing a 32 per cent quarter-on-quarter (QoQ) increase and 13 per cent year-on-year (YoY) growth.

During Q3, the group’s run-of-mine (ROM) coal mining combined output from UHG and BN mines totalled 3,604.3 kt, up five per cent QoQ but down 16 per cent YoY. The group processed 3,753.8 kt of ROM coking coal to produce 2,103.0 kt of washed coking coal, reflecting a three per cent QoQ decline but a nine per cent YoY rise.

The group, through its 50 per cent equity stake in Erdene Mongol LLC (EM), officially launched commercial production at the BKH gold mine in Bayankhongor aimag (province) on Sept 14, 2025.

In the quarter, EM sold 342 ounces (oz) of gold and 96 oz of silver to the Bank of Mongolia and authorised commercial banks with a weighted average gold price of US$3,805.18/oz and a silver price of US$44.15/oz. (US$1 = RM4.22)

Following successful construction and commissioning during Q3, the BKH mine is expected to achieve its nameplate production capacity within the fourth quarter of 2025. The processing plant has an annual capacity of 650,000 tonnes of ore, with an expected output of up to 85,000 oz of gold per year, based on the 2023 feasibility study.

-- BERNAMA