Skip to main content

Mongolian Mining Corp. publishes 2019 interim results

Published by
World Coal,

Mongolian Mining Corporation (MMC, or together with its subsidiaries, the “Group; stock code: 975), the largest producer and exporter of washed hard coking coal (HCC) in Mongolia, on 22 August announced its unaudited interim results for the six months ended 30 June 2019 (1H19).

During the reporting period, the Group generated a total revenue of US$325.6 million, an increase of nearly 20% (1H18: US$272.2 million).

The Group sold approximately 2 million t of HCC, an increase of 14.0% as compared to 1.7 million t of HCC sold during the same period in 2018. The average selling price (ASP) for HCC was US$147/t in 1H19 (ASP in 1H18: US$146.1/t). Gross profit amounted to approximately US$129.9 million in 1H19, representing an increase of 20.1% year-on-year (1H18: US$108.1 million); while profit attributable to equity shareholders of the company for 1H19 surged by 59.4% to approximately US$47.1 million (1H18: US$29.5 million).

Dr. Battsengel Gotov, CEO of MMC, said: “We are pleased to report sound financial and operational performance for the period, highlighted by nearly 20% revenue growth and over 59% growth in profit attributable to equity shareholders. Building on the strong first half of the year, we look to continuously push our production and sales volumes by utilising our existing coal mining and processing capacity, optimising our transportation and logistics efficiency and expanding relations with our end-user customers’ base. Also we shall remain focused on our commitment to safe and responsible mining operations.”

Read the article online at:

You might also like

OSIsoft webinar

WEBINAR: The hidden value of digital transformation in coal mining

In this webinar, OSIsoft will highlight some aspects of a successful digital transformation journey and discuss the top priorities that mining executives are looking for. They will also see how mining companies around the world benefit from real-time operational data to improve their safety results & their asset reliability and to optimise their operations. Register for free today »


Embed article link: (copy the HTML code below):


World Coal is not responsible for the content of external internet sites.