MONGOL MINING (00975) Sells 8.2213 Million Tonnes of Washed Coking Coal Products in 2025, Up 4% Year-on-Year

Stock News
Jan 20

MONGOL MINING (00975) has announced that the Group is the largest producer and exporter of washed coking coal products in Mongolia. The Group's wholly-owned subsidiary, Energy Resources LLC (ER), operates the Ukhaa Khudag (UHG) coking coal mine, while its controlled subsidiary, Khangad Exploration LLC (KEX), operates the Baruun Naran (BN) coking coal mine; both are located in the Umnugobi Province of Mongolia. In 2025, the Group sold a total of 8.2213 million tonnes of washed coking coal products, representing a 4% increase compared to the 7.8821 million tonnes sold in 2024. The product mix for the washed coking coal sold in 2025 consisted of the following: 4.9205 million tonnes of washed hard coking coal; 452,500 tonnes of washed semi-soft coking coal; and 2.8484 million tonnes of washed medium-ash semi-hard coking coal. Consequently, for the year ended December 31, 2025, hard coking coal, semi-soft coking coal, and medium-ash semi-hard coking coal accounted for 59%, 6%, and 35%, respectively, of the total washed coking coal products sold (2024: hard coking coal 60%; semi-soft coking coal 6%; medium-ash semi-hard coking coal 34%). The Group holds a 50% interest in Erdene Mongol LLC (EM), which owns and operates the Bayan Khundii (BKH) gold mine in Bayankhongor Province, Mongolia, and holds a 50.5% interest in Universal Copper LLC (UCC), which is developing the White Hill (WTH) copper, silver, and gold mine, also located in Bayankhongor Province. For the year ended December 31, 2025, EM sold 7,434 ounces of gold and 2,634 ounces of silver produced from the BKH mine since the first gold pour on September 14, 2025, to the Mongolian Bank and authorized commercial banks. The weighted average price for gold was $4,153.25 per ounce, and for silver was $53.14 per ounce, calculated using spot prices denominated in Tugrik (the local currency) and the applicable Tugrik to US dollar exchange rate. The BKH processing plant has a nameplate ore feed capacity of 650,000 tonnes per annum, incorporating single-stage crushing, two-stage grinding via a semi-autogenous and subsequent ball mill circuit, cyanide leaching, adsorption via the carbon-in-pulp method, elution via pressure Zadra, electrolytic extraction, and smelting to produce gold (doré) bars. During the quarter ended December 31, 2025, the Group conducted necessary geological and hydrogeological exploration drilling and modeling, extensive sampling, and metallurgical testing, among other activities, to gather the required data for preparing relevant technical reports (including updated JORC resource and reserve statements) and completed a feasibility study to advance the development of the WTH copper, silver, and gold mine within the area covered by the three mineral exploration licenses held by UCC.

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