Mongolian Mining Revenue Rises 69 Pct In 1H2026

KUALA LUMPUR, Aug 21 (Bernama) -- Mongolian Mining Corporation (MMC), the largest producer and exporter of washed coking coal products in Mongolia, reported total revenue of approximately US$586.2 million for the six months ended June 30, 2026 (1H2026), up 69.0 per cent year-on-year from US$346.6 million. (US$1=RM4.04)

MMC attributed the increase to higher washed coking coal sales volume and an improved average selling price (ASP).

In 1H2026, gross profit was approximately US$134.9 million, while the group’s profit and profit attributable to equity shareholders of the company stood at US$105.9 million and US$89.0 million, respectively, compared with losses of US$19.9 million and US$23.3 million in 1H2025.

The increase in profit was primarily attributable to higher washed coking coal sales volume and ASP, as well as profit contribution from the group’s gold and metals segment.

MMC Chief Executive Officer, Dr Battsengel Gotov said the group increased production and sales volume in the first half of 2026 by maximising utilisation of existing assets while maintaining prudent financial policy to preserve its balance sheet and capital structure.

“Moreover, the Bayan Khundii mine has started contributing to our revenue, reducing our exposure to a single commodity and thereby strengthening the future outlook for building up a more resilient business portfolio,” he said in a statement.

The group sold approximately 5.7 million tonnes (Mt) of washed coal products in 1H2026, up from 4.2 Mt in 1H2025, comprising 5.2 Mt of primary products and 0.5 Mt of secondary products.

MMC added that the Bayan Khundii gold mine contributed US$94.7 million, accounting for 16 per cent of total revenue during 1H2026, its first full reporting period of commercial production.

During the period, the group sold 20,236 ounces (oz) of gold and 6,452 oz of silver to the Bank of Mongolia and its authorised commercial banks, with ASPs of US$4,654 per oz for gold and US$76 per oz for silver, respectively.

-- BERNAMA