Mongolian Mining Corporation - Operational Update for the Quarter Ended 30 September 2026
Coal sales fell both sequentially and annually, while gold sales increased to 11,853 ounces.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Mongolian Mining Corporation (MOGLF) reported lower washed coking coal sales in its unaudited operational update for the quarter ended 30 September 2026. Sales were 1,996.9 thousand tonnes, down 26% quarter on quarter and 13% year on year. Coal mined rose 8% sequentially to 4,791.2 thousand tonnes, while washed coal production fell 11% to 2,503.1 thousand tonnes.
At Bayan Khundii, gold sales reached 11,853 ounces, up 1% quarter on quarter and 3,366% year on year. The average gold price was $4,315 per ounce, down 4% sequentially but up 13% annually. Ore mined increased 68% sequentially to 414.9 thousand tonnes; ore processed rose 7% to 164.5 thousand tonnes. Coal-loaded border crossings to Ganqimaodu averaged 897 trucks per operating day, down 34% from the preceding quarter. Commercial gold production began on 14 September 2025.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointCoal mined reached 4,791.2 thousand tonnes, up 8% quarter on quarter and 33% year on year.
- Moderate pointGold sold reached 11,853 ounces, up 1% quarter on quarter and 3,366% year on year.
- Minor pointOre mined reached 414.9 thousand tonnes, up 68% quarter on quarter and 212% year on year.
- Minor pointOre processed reached 164.5 thousand tonnes, up 7% quarter on quarter and 710% year on year.
- Minor pointYear-to-date border crossings averaged 1,177 trucks per operating day, 15% above the full-year 2025 average.
Negative
- Moderate pointWashed coal sales fell to 1,996.9 thousand tonnes, down 26% quarter on quarter and 13% year on year.
- Moderate pointBorder crossings averaged 897 trucks per operating day, down 34% from second-quarter and 29% from first-quarter 2026.
- Minor pointWashed coal production reached 2,503.1 thousand tonnes, down 11% quarter on quarter but up 19% year on year.
- Minor pointCoking coal processed reached 4,253.2 thousand tonnes, down 6% quarter on quarter but up 13% year on year.
- Minor pointAverage gold price was $4,315 per ounce, down 4% quarter on quarter but up 13% year on year.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
MONGOLIAN MINING CORPORATION
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 975)
HONG KONG, Oct. 15, 2026 (GLOBE NEWSWIRE) -- The board of directors (the “Board”) of Mongolian Mining Corporation (the “Company”, together with its subsidiaries, collectively the “Group”) wishes to announce the unaudited operational update for the quarter ended 30 September 2026. The comparative figures for the quarter ended 30 September 2025 and the quarter ended 30 June 2026 are also disclosed in this announcement (if and as applicable).
Coking (metallurgical) coal operations
Coking coal prices in China rebounded strongly during the quarter ended 30 September 2026, driven primarily by constrained supply from domestic producers. Market price movements for washed mid-volatile hard coking coal (“MV HCC”) sold by the Group through auctions on the Mongolian Stock Exchange (“MSE”) commodity exchange platform under delivery-at-place Ganqimaodu (“DAP GM”) terms during the period from 1 January to 30 September 2026 are shown in Chart 1 below (publicly available source: https://www.mse.mn/trade).
Chart 1. MSE auction prices for MV HCC from 1 January to 30 September 2026:
Note: Each dot represents individual batch of 12,800 tonnes of MV HCC successfully auctioned via MSE commodity exchange trading platform, with prices shown in RMB per tonne under DAP GM terms, exclusive of the applicable
During the quarter ended 30 September 2026, the number of coal-loaded trucks crossing the border to GM decreased to an average of 897 trucks per operating day,
The main operational data for the Group’s coking (metallurgical) coal operations, comprising combined output delivered from the Ukhaa Khudag (“UHG”) mine and the Baruun Naran (“BN”) mine for the quarter ended 30 September 2026, are summarised in Table 1 below.
Table 1. Main operational data for coking coal operations for the quarter ended 30 September 2026:
| The quarter ended 30 September | The quarter ended 30 June | Quarter-on- quarter (“QoQ”) change | The quarter ended 30 September | Year-on- year (“YoY”) change | ||||
| Item | Unit | 2026 | 2026 | (%) | 2025 | (%) | ||
| ROM coal mined | kt | 4,791.2 | 4,424.4 | +8 | % | 3,604.3 | +33 | % |
| ROM coking coal processed | kt | 4,253.2 | 4,509.8 | -6 | % | 3,753.8 | +13 | % |
| Washed coking coal produced | kt | 2,503.1 | 2,814.1 | -11 | % | 2,103.0 | +19 | % |
| Washed coking coal sold | kt | 1,996.9 | 2,688.1 | -26 | % | 2,303.2 | -13 | % |
| Gold and metals operations | ||||||||
The main operational data for the Group’s gold and metals operations, comprising output delivered from the Bayan Khundii (“BKH”) mine for the quarter ended 30 September 2026, are summarised in Table 2 below.
A weighted average gold price per ounce (“oz”) for each quarter was calculated by using actual transaction prices denominated in MNT (local currency) and the applicable MNT/USD exchange rates.
Table 2. Main operational data for gold and metals operation for the quarter ended 30 September 2026:
| The quarter ended 30 September | The quarter ended 30 June | QoQ change | The quarter ended 30 September | YoY change (%) | ||||
| Item | Unit | 2026 | 2026 | (%) | 2025 | (Note) | ||
| Ore mined | kt | 414.9 | 247.2 | +68 | % | 132.9 | +212 | % |
| Ore processed | kt | 164.5 | 153.1 | +7 | % | 20.3 | +710 | % |
| Gold sold | oz | 11,853 | 11,709 | +1 | % | 342 | +3,366 | % |
| Gold price | USD/oz | 4,315 | 4,493 | -4 | % | 3,805 | +13 | % |
Note: Commercial gold production at the BKH mine commenced from 14 September 2025.
Important notice
Data provided in this announcement are all rounded and derived from the internal records of the Group and are intended to give investors an overview of the Group’s operations in a timely manner and may differ from the data disclosed in periodic reports of the Company. The aforesaid operational data are not an express or implied forecast or guarantee in respect of the Company’s future operating conditions. In addition, various factors may affect results, including (but not limited to) force majeure events, changes in market conditions and regulatory interferences, as such material differences may exist in the operational data published from quarter to quarter.
Investors should note that undue reliance on or use of the above information may cause investment risks.
| For and on behalf of the Board Mongolian Mining Corporation Odjargal Jambaljamts Chairman |
Hong Kong, 16 October 2026
As at the date of this announcement, the board of directors of the Company consists of Mr. Odjargal Jambaljamts and Dr. Battsengel Gotov, being the executive directors of the Company, Ms. Enkhtuvshin Gombo and Mr. Ariunbayar Byambadorj, being the non-executive directors of the Company, and Mr. Chan Tze Ching, Ignatius, Ms. Delgerjargal Bayanjargal and Dr. Tsend-Ayush Tuvshintur, being the independent non-executive directors of the Company.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8956cdeb-3faf-4ff2-a1a7-a2cf9d9fbc62
investor@mmc.mn
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much washed coking coal did Mongolian Mining sell in the third quarter of 2026?
Mongolian Mining sold 1,996.9 thousand tonnes of washed coking coal in the quarter ended 30 September 2026. Sales declined 26% from the preceding quarter and 13% from the corresponding quarter of 2025.
How much gold did Mongolian Mining sell in the third quarter of 2026?
Gold sales from Bayan Khundii totaled 11,853 ounces, up 1% quarter on quarter and 3,366% year on year. The weighted average gold price was $4,315 per ounce, down 4% sequentially but up 13% annually.
How does Mongolian Mining calculate its quarterly average gold price?
The weighted average quarterly gold price uses actual transaction prices in Mongolian tugrik and the applicable tugrik-to-US-dollar exchange rates.