HONG KONG, Aug. 20, 2026 (GLOBE NEWSWIRE) -- Mongolian Mining Corporation ("MMC" or the "Company", or together with its subsidiaries, the "Group"; HKEx: 975), the largest producer and exporter of washed coking coal products in Mongolia, today announced its interim results for the six months ended 30 June 2026 ("1H2026" or the "period under review").
The Group generated a total revenue of approximately USD586.2 million in 1H2026 (1H2025: USD346.6 million), representing approximately 69.0% year-on-year increase. The increase was driven by higher washed coking coal sales volume and improved average selling price ("ASP"). The Group sold approximately 5.7 million tonnes ("Mt") of washed coal products in 1H2026 (1H2025: 4.2 Mt), comprising 5.2 Mt of primary products and 0.5 Mt of secondary products.
In addition, the Bayan Khundii gold mine contributed USD94.7 million, accounting for 16% of total revenue during the period under review, being its first full reporting period of commercial production. The Group sold 20,236 oz of gold and 6,452 oz of silver to the Bank of Mongolia and its authorised commercial banks during 1H2026. ASP was USD4,654 per oz for gold and USD76 per oz for silver, respectively, during the period under review.
The Group's gross profit for the period under review was approximately USD134.9 million. The Group's profit and the profit attributable to equity shareholders of the Company for 1H2026 was USD105.9 million and USD89.0 million, respectively (1H2025: loss and loss attributable to equity shareholders of the Company of USD19.9 million and USD23.3 million, respectively). The increase in profit was primarily attributable to higher washed coking coal sales volume and ASP, and profit contribution from the Group's gold and metals segment.
Dr. Battsengel Gotov, Chief Executive Officer of MMC, said, "We remain fully committed to pursuing our key strategic pillars to maintain and enhance our competitive position as the largest internationally listed private mining company with operations focused on and located in Mongolia. In the first half of 2026, we increased production and sales volume by maximising utilisation of our existing assets, while consistently enforcing prudent financial policy to preserve strong balance sheet and healthy capital structure. Moreover, the Bayan Khundii mine has started contributing to our revenue, reducing our exposure to a single commodity and thereby strengthening the future outlook for building up a more resilient business portfolio. We will continue to assess strategic investment opportunities within Mongolia in line with our aim of diversifying our revenue sources."
About Mongolian Mining Corporation (HKEx: 975; OTCQX: MOGLF)
Mongolian Mining Corporation ("MMC" or the "Company", or and together with its subsidiaries, "the Group", SEHK: 975; OTCQX: MOGLF) 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. The Group is the largest producer and exporter of washed hard coking coal in Mongolia. It owns and operates the Ukhaa Khudag and the Baruun Naran open-pit coking coal mines, both located in the Umnugobi aimag (South Gobi province), Mongolia.
MMC owns 50% equity interest in Erdene Mongol LLC, which holds two mining licenses, including Bayan Khundii and one exploration license located in Bayankhongor aimag (province), Mongolia. MMC also owns 50.5% equity interest in Universal Copper LLC, which holds three mining licenses located in Bayankhongor aimag (province), Mongolia.
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.
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 Crystal Wong +852 2864 4873 crystal.wong@sprg.com.hk