Mongolian Mining Boosts Second Quarter Coal, Gold Output

KUALA LUMPUR, July 23 (Bernama) -- Mongolian Mining Corporation reported stronger operational performance for the second quarter ended June 30, 2026, with washed coking coal production rising 29 per cent year-on-year to 2,814.1 thousand tonnes (kt).

In a statement, the company said washed coking coal sales climbed 55 per cent to 2,688.1 kt  during the quarter, while run-of-mine (ROM) coal production increased 29 per cent to 4,424.4 kt. ROM coking coal processed rose 25 per cent to 4,509.8 kt.

Compared with the preceding quarter, washed coking coal production grew 24 per cent, sales increased five per cent and ROM coking coal processed advanced 15 per cent, although ROM coal mined declined nine per cent.

Mongolian Mining said its coking coal operations comprise the Ukhaa Khudag mine operated by wholly owned subsidiary Energy Resources LLC and the Baruun Naran mine operated by majority-owned subsidiary Khangad Exploration LLC, both located in Umnugobi province.

In its gold business, the company recorded ore mined of 247.2 kt, up 60 per cent from the previous quarter, while ore processed edged up two per cent to 153.1 kt. Gold sales rose 37 per cent quarter-on-quarter to 11,709 ounces, while the weighted average realised gold price eased eight per cent to US$4,493 per ounce. (US$1=RM4.08)

The company holds a 50 per cent stake in Erdene Mongol LLC, which owns and operates the Bayan Khundii gold mine, and a 50.5 per cent interest in Universal Copper LLC, which develops the White Hill copper deposit and Urkhut silver deposit in Bayankhongor province.

The largest internationally listed private mining company operating in Mongolia,  the company said its diversified portfolio comprises coking coal, gold, silver, copper and other non-ferrous metals mining assets in the country's southern and western regions.

-- BERNAMA