Mongolian Mining Corporation Announces 2024 Annual Results
Mongolian Mining (MMC), Mongolia's largest HCC producer and exporter, reported its FY2024 results with record-high revenue of USD1,039.9 million, slightly up from USD1,034.8 million in FY2023. The company sold 8.6 million tonnes of coal products, including 4.7 Mt of hard coking coal (HCC).
The average HCC selling price increased to USD168.4 per tonne from USD160.2 in 2023. The company achieved a gross profit of USD411.7 million, with profit attributable to shareholders holding steady at USD242.0 million.
The company reported progress on its diversification strategy, with its Bayan Khundii gold mine construction being 67% complete, targeting gold production commencement in H2 2025. MMC maintains its position as Mongolia's largest internationally listed private mining company, focusing on production scaling, infrastructure development, and portfolio diversification into gold, copper, and non-ferrous metals.
Mongolian Mining (MMC), il più grande produttore ed esportatore di HCC della Mongolia, ha riportato i risultati per l'anno fiscale 2024 con un fatturato record di 1.039,9 milioni di USD, leggermente superiore rispetto a 1.034,8 milioni di USD nel 2023. L'azienda ha venduto 8,6 milioni di tonnellate di prodotti carboniferi, di cui 4,7 Mt di carbone coking duro (HCC).
Il prezzo medio di vendita dell'HCC è aumentato a 168,4 USD per tonnellata rispetto ai 160,2 USD del 2023. L'azienda ha registrato un profitto lordo di 411,7 milioni di USD, con un profitto attribuibile agli azionisti che si è mantenuto stabile a 242,0 milioni di USD.
L'azienda ha riportato progressi nella sua strategia di diversificazione, con la costruzione della miniera d'oro Bayan Khundii che è completa al 67%, puntando a iniziare la produzione d'oro nel secondo semestre del 2025. MMC mantiene la sua posizione come la più grande azienda mineraria privata quotata a livello internazionale in Mongolia, concentrandosi sull'espansione della produzione, lo sviluppo delle infrastrutture e la diversificazione del portafoglio in oro, rame e metalli non ferrosi.
Mongolian Mining (MMC), el mayor productor y exportador de HCC de Mongolia, informó sus resultados del año fiscal 2024 con ingresos récord de 1,039.9 millones de USD, ligeramente por encima de 1,034.8 millones de USD en el año fiscal 2023. La compañía vendió 8.6 millones de toneladas de productos de carbón, incluyendo 4.7 Mt de carbón coquizable duro (HCC).
El precio promedio de venta del HCC aumentó a 168.4 USD por tonelada desde 160.2 USD en 2023. La compañía logró una ganancia bruta de 411.7 millones de USD, con una ganancia atribuible a los accionistas que se mantuvo estable en 242.0 millones de USD.
La compañía informó sobre avances en su estrategia de diversificación, con la construcción de su mina de oro Bayan Khundii completada en un 67%, con el objetivo de comenzar la producción de oro en el segundo semestre de 2025. MMC mantiene su posición como la mayor empresa minera privada cotizada internacionalmente en Mongolia, enfocándose en la ampliación de la producción, el desarrollo de infraestructuras y la diversificación de su cartera en oro, cobre y metales no ferrosos.
몽골 광업(MMC), 몽골 최대의 HCC 생산 및 수출업체,는 FY2024 결과를 발표하며 10억 3999만 달러의 기록적인 수익을 보고했습니다. 이는 FY2023의 10억 3480만 달러에서 약간 증가한 수치입니다. 이 회사는 860만 톤의 석탄 제품을 판매했으며, 그 중 470만 톤은 경질 코크스 석탄(HCC)입니다.
HCC의 평균 판매 가격은 2023년의 160.2달러에서 톤당 168.4달러로 증가했습니다. 이 회사는 4억 1170만 달러의 총 이익을 달성했으며, 주주에게 귀속되는 이익은 2억 4200만 달러로 안정세를 유지했습니다.
회사는 다각화 전략에서 진전을 보고했으며, Bayan Khundii 금광 건설이 67% 완료되어 2025년 하반기 금 생산을 목표로 하고 있습니다. MMC는 몽골에서 가장 큰 국제 상장 민간 광업 회사로서, 생산 확대, 인프라 개발 및 금, 구리 및 비철금속으로의 포트폴리오 다각화에 집중하고 있습니다.
Mongolian Mining (MMC), le plus grand producteur et exportateur de HCC en Mongolie, a annoncé ses résultats pour l'exercice 2024 avec un chiffre d'affaires record de 1 039,9 millions USD, légèrement en hausse par rapport à 1 034,8 millions USD en 2023. L'entreprise a vendu 8,6 millions de tonnes de produits charbonniers, dont 4,7 Mt de charbon à coke dur (HCC).
Le prix de vente moyen du HCC a augmenté à 168,4 USD par tonne contre 160,2 USD en 2023. L'entreprise a réalisé un bénéfice brut de 411,7 millions USD, avec un bénéfice attribuable aux actionnaires restant stable à 242,0 millions USD.
L'entreprise a signalé des progrès dans sa stratégie de diversification, la construction de sa mine d'or Bayan Khundii étant complète à 67%, avec un objectif de début de production d'or au second semestre 2025. MMC maintient sa position en tant que plus grande entreprise minière privée cotée à l'international en Mongolie, se concentrant sur l'expansion de la production, le développement des infrastructures et la diversification de son portefeuille en or, cuivre et métaux non ferreux.
Mongolian Mining (MMC), der größte HCC-Produzent und -Exporteur der Mongolei, hat seine Ergebnisse für das Geschäftsjahr 2024 veröffentlicht und einen Rekordumsatz von 1.039,9 Millionen USD erzielt, was einen leichten Anstieg gegenüber 1.034,8 Millionen USD im Geschäftsjahr 2023 darstellt. Das Unternehmen verkaufte 8,6 Millionen Tonnen Kohleprodukte, darunter 4,7 Mt Hartkoks (HCC).
Der durchschnittliche Verkaufspreis für HCC stieg auf 168,4 USD pro Tonne von 160,2 USD im Jahr 2023. Das Unternehmen erzielte einen Bruttogewinn von 411,7 Millionen USD, wobei der den Aktionären zurechenbare Gewinn stabil bei 242,0 Millionen USD blieb.
Das Unternehmen berichtete über Fortschritte bei seiner Diversifizierungsstrategie, wobei der Bau der Goldmine Bayan Khundii zu 67% abgeschlossen ist und die Goldproduktion für das zweite Halbjahr 2025 angestrebt wird. MMC behält seine Position als das größte international gelistete private Bergbauunternehmen in der Mongolei bei und konzentriert sich auf die Produktionssteigerung, den Infrastrukturausbau und die Diversifizierung des Portfolios in Gold, Kupfer und Nichteisenmetalle.
- Record-high revenue of USD1,039.9 million in FY2024
- Increased HCC selling price to USD168.4/tonne from USD160.2/tonne
- Strong gross profit of USD411.7 million
- Stable profit attributable to shareholders at USD242.0 million
- 67% completion of Bayan Khundii gold mine construction
- Business diversification into gold, copper, and non-ferrous metals
- Marginal revenue growth of only 0.5% year-over-year
- Gold production delayed until second half of 2025
HONG KONG, March 24, 2025 (GLOBE NEWSWIRE) -- Mongolian Mining Corporation (“MMC” or the “Company”, or together with its subsidiaries, the “Group”; stock code: 975), the largest producer and exporter of washed hard coking coal (“HCC”) in Mongolia, today announced its annual results for the year ended 31 December 2024 (“FY2024” or the “Year”).
During the Year, the Group’s revenue reached a record high level of USD1,039.9 million (FY2023: USD1,034.8 million). The Group sold a total of 8.6 million tonnes (“Mt”) of coal products in FY2024, comprising of 7.8 Mt of primary products (including 4.7 Mt of HCC), and 0.8 Mt of secondary products.
The Group’s average selling price for HCC, excluding applicable VAT in PRC, was USD168.4 per tonne, compared to USD160.2 per tonne during the year ended 31 December 2023.
The Group’s gross profit for the Year was approximately USD411.7 million. The profit attributable to equity shareholders of the Company for FY2024 remained stable at approximately USD242.0 million.
As of the end of 2024, the processing plant construction and installation works at the Bayan Khundii gold mine were around
Dr. Battsengel Gotov, Chief Executive Officer of MMC, said, “We are pleased to report that the Group delivered another year of strong operational and financial performance, generating revenue of USD1,039.9 million in 2024. At MMC, we remain steadfast in our commitment to strengthening our position as the largest internationally listed private mining company operating in Mongolia. Our focus is clear: maintaining an adequate capital structure, scaling up production and sales through optimal asset utilization, and supporting initiatives to improve and develop regional infrastructure. We have been focusing on business expansion and diversification, investing in gold, copper, and other non-ferrous metals to strengthen our portfolio and long-term growth strategy. Above all, we are dedicated to upholding the highest standards of safety, environmental responsibility, and social accountability as we drive sustainable growth for the future.”
About Mongolian Mining Corporation (Stock code: 975)
MMC is the largest producer and exporter of HCC in Mongolia. It owns and operates two open-pit coking coal mines, the Ukhaa Khudag deposit located within the Tavan Tolgoi coal formation, as well as the Baruun Naran deposit, both located in South Gobi, Mongolia.
MMC is also a
MMC was listed on The Stock Exchange of Hong Kong Limited in October 2010. To learn more about the Group, please visit MMC’s website at: www.mmc.mn.
(Incorporated in the Cayman Islands with limited liability)
Enquiries: Strategic Financial Relations Limited Cindy Lung +852 2864 4867 cindy.lung@sprg.com.hk Rachel Ko +852 2114 2370 rachel.ko@sprg.com.hk Carlos Chen +852 2864 4847 carlos.chen@sprg.com.hk
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