Operational Update for the Quarter Ended 31 March 2025
Mongolian Mining (MOGLF) has released its operational update for Q1 2025. The company, Mongolia's largest internationally listed private mining company, reported mixed results in its coking coal operations. Run-of-mine (ROM) coal mining output reached 3,673.4 thousand tonnes, showing a 3% year-over-year increase but remained flat quarter-on-quarter.
The company processed 3,749.5 kt of ROM coking coal, producing 2,110.0 kt of washed coking coal products (2% YoY decrease, 1% QoQ increase). Total sales reached 1,600.4 kt, comprising 1,079.4 kt of washed hard coking coal, 72.2 kt of washed semi-soft coking coal, and 448.7 kt of washed mid-ash semi-hard coking coal.
In gold operations, the company's 50% owned Bayan Khundii gold mine is 86.5% complete in construction, with production expected to commence in H2 2025. Additionally, MOGLF acquired a 50.5% stake in Universal Copper on March 11, 2025, expanding into copper and non-ferrous metals exploration.
Mongolian Mining (MOGLF) ha pubblicato l'aggiornamento operativo per il primo trimestre 2025. La società, la più grande compagnia mineraria privata internazionale della Mongolia, ha riportato risultati contrastanti nelle sue operazioni di carbone coke. La produzione di carbone run-of-mine (ROM) ha raggiunto 3.673,4 mila tonnellate, con un aumento del 3% su base annua ma stabile rispetto al trimestre precedente.
L'azienda ha lavorato 3.749,5 kt di carbone coke ROM, producendo 2.110,0 kt di prodotti di carbone coke lavato (diminuzione del 2% su base annua, aumento dell'1% rispetto al trimestre precedente). Le vendite totali hanno raggiunto 1.600,4 kt, di cui 1.079,4 kt di carbone coke duro lavato, 72,2 kt di carbone coke semi-morbido lavato e 448,7 kt di carbone coke semi-duro a medio contenuto di ceneri lavato.
Nel settore dell'oro, la miniera di Bayan Khundii, di cui la società detiene il 50%, è completata per l'86,5% e la produzione è prevista per la seconda metà del 2025. Inoltre, il 11 marzo 2025 MOGLF ha acquisito una quota del 50,5% in Universal Copper, espandendosi nell'esplorazione di rame e metalli non ferrosi.
Mongolian Mining (MOGLF) ha publicado su actualización operativa para el primer trimestre de 2025. La compañía, la mayor empresa minera privada internacional de Mongolia, reportó resultados mixtos en sus operaciones de carbón coquizable. La producción de carbón run-of-mine (ROM) alcanzó 3.673,4 mil toneladas, mostrando un aumento del 3% interanual pero permaneció estable respecto al trimestre anterior.
La empresa procesó 3.749,5 kt de carbón coquizable ROM, produciendo 2.110,0 kt de productos de carbón coquizable lavado (disminución del 2% interanual, aumento del 1% trimestral). Las ventas totales alcanzaron 1.600,4 kt, compuestas por 1.079,4 kt de carbón coquizable duro lavado, 72,2 kt de carbón coquizable semi-blando lavado y 448,7 kt de carbón coquizable semi-duro de ceniza media lavado.
En operaciones auríferas, la mina de oro Bayan Khundii, de la que la compañía posee el 50%, está completada en un 86,5%, y se espera que la producción comience en la segunda mitad de 2025. Además, el 11 de marzo de 2025 MOGLF adquirió una participación del 50,5% en Universal Copper, expandiéndose a la exploración de cobre y metales no ferrosos.
Mongolian Mining (MOGLF)가 2025년 1분기 운영 업데이트를 발표했습니다. 몽골 최대의 국제 상장 민간 광산 회사인 이 기업은 코킹 석탄 사업에서 엇갈린 성과를 보고했습니다. 원광석(ROM) 석탄 채굴 생산량은 367만 3,400톤으로 전년 대비 3% 증가했으나 전분기 대비 변화가 없었습니다.
회사는 374만 9,500톤의 ROM 코킹 석탄을 처리하여 211만 톤의 세척 코킹 석탄 제품을 생산했으며(전년 대비 2% 감소, 전분기 대비 1% 증가), 총 판매량은 160만 400톤으로 세척 경질 코킹 석탄 107만 9,400톤, 세척 반연질 코킹 석탄 7만 2,200톤, 중재 반경질 세척 코킹 석탄 44만 8,700톤으로 구성됩니다.
금광 사업에서는 회사가 50% 지분을 보유한 바얀훈디 금광의 건설이 86.5% 완료되었으며, 2025년 하반기부터 생산이 시작될 예정입니다. 또한 MOGLF는 2025년 3월 11일에 Universal Copper의 50.5% 지분을 인수하여 구리 및 비철금속 탐사 분야로 사업을 확장했습니다.
Mongolian Mining (MOGLF) a publié sa mise à jour opérationnelle pour le premier trimestre 2025. La société, la plus grande entreprise minière privée internationale de Mongolie, a présenté des résultats mitigés dans ses opérations de charbon à coke. La production de charbon brut (ROM) a atteint 3 673,4 milliers de tonnes, soit une augmentation de 3 % en glissement annuel, mais stable par rapport au trimestre précédent.
L'entreprise a traité 3 749,5 kt de charbon à coke ROM, produisant 2 110,0 kt de produits de charbon à coke lavé (baisse de 2 % en glissement annuel, hausse de 1 % par rapport au trimestre précédent). Les ventes totales ont atteint 1 600,4 kt, comprenant 1 079,4 kt de charbon à coke dur lavé, 72,2 kt de charbon à coke semi-doux lavé et 448,7 kt de charbon à coke semi-dur à teneur moyenne en cendres lavé.
Dans ses opérations aurifères, la mine d'or Bayan Khundii, détenue à 50 % par la société, est achevée à 86,5 % et la production devrait débuter au second semestre 2025. De plus, MOGLF a acquis une participation de 50,5 % dans Universal Copper le 11 mars 2025, élargissant ainsi ses activités à l'exploration du cuivre et des métaux non ferreux.
Mongolian Mining (MOGLF) hat sein operatives Update für das erste Quartal 2025 veröffentlicht. Das Unternehmen, die größte international börsennotierte private Bergbaugesellschaft der Mongolei, meldete gemischte Ergebnisse bei seinen Kokskohlen-Operationen. Die Produktion von Run-of-mine (ROM) Kohle erreichte 3.673,4 Tausend Tonnen, was einem Anstieg von 3 % im Jahresvergleich entspricht, jedoch im Quartalsvergleich unverändert blieb.
Das Unternehmen verarbeitete 3.749,5 kt ROM-Kokskohle und produzierte 2.110,0 kt gewaschene Kokskohleprodukte (2 % Rückgang im Jahresvergleich, 1 % Anstieg im Quartalsvergleich). Der Gesamtabsatz erreichte 1.600,4 kt, bestehend aus 1.079,4 kt gewaschener harter Kokskohle, 72,2 kt gewaschener halbweicher Kokskohle und 448,7 kt gewaschener mittel-ash halb-harter Kokskohle.
Im Goldgeschäft ist die zu 50 % im Besitz des Unternehmens befindliche Bayan Khundii Goldmine zu 86,5 % fertiggestellt, und die Produktion soll in der zweiten Hälfte des Jahres 2025 beginnen. Zudem erwarb MOGLF am 11. März 2025 einen 50,5 % Anteil an Universal Copper und erweitert damit sein Engagement in der Kupfer- und Nichteisenmetallerkundung.
- ROM coal mining output increased 3% YoY to 3,673.4 kt
- Bayan Khundii gold mine construction at 86.5% completion
- Strategic expansion into copper through Universal Copper acquisition
- Washed coking coal production decreased 2% YoY
- Total coking coal sales declined 15% QoQ and 3% YoY
- Processing volume decreased 5% QoQ
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 975)
HONG KONG, April 16, 2025 (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 31 March 2025. The comparative figures for the quarter ended 31 March 2024 and the quarter ended 31 December 2024 are also disclosed in this announcement (if and as applicable).
The Company is the largest internationally listed private mining company with operations focused on and located in Mongolia. The Group has consolidated a diversified business portfolio to develop and operate coking (metallurgical) coal, gold, copper, and other non-ferrous metals mining assets in southern and western regions of Mongolia.
Coking (metallurgical) coal operations
Energy Resources LLC (“ER”), the Group’s wholly-owned subsidiary, operates Ukhaa Khudag (“UHG”) coking coal mine and Khangad Exploration LLC (“KEX”), the Group’s majority-owned subsidiary, operates Baruun Naran (“BN”) coking coal mine, both located in Umnugobi aimag (province), Mongolia. The Group is the largest producer and exporter of washed coking coal products in Mongolia.
During the quarter ended 31 March 2025, the Group’s run-of-mine (“ROM”) coal mining combined output from UHG and BN mines was 3,673.4 thousand tonnes (“kt”), representing
The Group processed a total of 3,749.5 kt of ROM coking coal to produce 2,110.0 kt of washed coking coal products, representing
The Group’s operating subsidiaries ER and KEX sold a total of 1,600.4 kt of washed coking coal products in the first quarter of 2025, whilst washed coking coal product mix supplied by the Group to its customers was as follows: (i) 1,079.4 kt of washed hard coking coal; (ii) 72.2 kt of washed semi-soft coking coal; and (iii) 448.7 kt of washed mid-ash semi-hard coking coal. This represents
The main operational data for coking (metallurgical) coal operations summarised and shown below in Table 1 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.
Table 1. Main operational data for the quarter ended 31 March 2025:
| The quarter ended 31 March | The quarter ended 31 March | YoY change | The quarter ended 31 December | QoQ change | ||||
| Item | Unit | 2025 | 2024 | (%) | 2024 | (%) | ||
| ROM coal mined | kt | 3,673.4 | 3,563.7 | + | 3,684.5 | |||
| ROM coking coal processed | kt | 3,749.5 | 3,694.6 | + | 3,947.8 | - | ||
| Washed coking coal produced | kt | 2,110.0 | 2,161.7 | - | 2,085.6 | + | ||
| Washed coking coal sold | kt | 1,600.4 | 1,650.3 | - | 1,886.1 | - | ||
Gold and metals operations
The Group is
The Group has continued with project development to advance construction work at the BKH mine, which has an expected life of mine total production of 476 thousand ounces (“Koz”) of recovered gold according to the updated feasibility study prepared in 2023 in accordance with NI 43-101 reporting standards.
During the quarter ended 31 March 2025, EM continued to advance construction work for gold processing plant and site support facilities, including power, heat and water supply infrastructure, laboratory, warehouse, chemicals and blasting materials storages, office and accommodation camp. The construction work progress reached around
On 11 December 2024, the Company and Mongolian Mining Corporation Pte. Ltd (a wholly owned subsidiary of the Company), entered into an agreement to purchase
Important notice
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
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, Mr. Od Jambaljamts, Ms. Enkhtuvshin Gombo and Mr. Myagmarjav Ganbyamba, being the non-executive directors of the Company, and Dr. Khashchuluun Chuluundorj, Mr. Unenbat Jigjid, Mr. Chan Tze Ching, Ignatius, Ms. Delgerjargal Bayanjargal and Dr. Tsend-Ayush Tuvshintur, being the independent non-executive directors of the Company.
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.
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
FAQ
What was MOGLF's coking coal production volume in Q1 2025?
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