Mongolian Mining Corporation Reports 28% Drop in Coal Output for Q2 2025

Strategic Insights -

Mongolian Mining Corporation (MMC), the largest internationally listed private mining company operating in Mongolia, has reported a significant decline in coal output for the second quarter (Q2) ended June 30, 2025. The company's run-of-mine (ROM) coal production from its Ukhaa Khudag and Baruun Naran coking coal mines fell to 3.43 million tonnes (Mt), a 28 per cent year-on-year (YoY) drop from the same period in 2024. Despite the decline, MMC increased its processed coal output slightly to 2.18 Mt of washed coking coal, a three per cent increase from the first quarter of 2025.

Key Takeaways:

  • MMC reported a 28 per cent YoY drop in ROM coal production from its Ukhaa Khudag and Baruun Naran coking coal mines, totaling 3.43 Mt in Q2 2025.
  • The decline in coal production was despite a seven per cent quarter-on-quarter (QoQ) increase in processed coal output to 2.18 Mt of washed coking coal.
  • Sales of washed coking coal rose nine per cent QoQ to 1.74 Mt but remained 25 per cent lower than the same period last year.
  • MMC's gold mining joint venture, Erdene Mongol LLC, has completed commissioning activities at the Bayan Khundii gold project, with commercial production expected to begin in Q3 2025.
  • The company is seeking to broaden its resource portfolio across Mongolia's southern and western regions.
  • MMC is a key supplier of metallurgical coal to the Chinese steel market and is listed on the Hong Kong Stock Exchange.

Statistics:

  • 28 per cent: YoY drop in ROM coal production reported by MMC for Q2 2025.
  • 3.43 Mt: Total ROM coal production from Ukhaa Khudag and Baruun Naran coking coal mines in Q2 2025.
  • 4.79 Mt: ROM coal production in Q2 2024, for comparison with Q2 2025.
  • 7 per cent: QoQ decline in processed coal output in Q2 2025.
  • 2.18 Mt: Processed coal output (washed coking coal) in Q2 2025.
  • 3 per cent: Increase in processed coal output from Q1 2025 to Q2 2025.
  • 25 per cent: Year-over-year decline in sales of washed coking coal in Q2 2025.
  • 1.74 Mt: Sales of washed coking coal in Q2 2025.
  • 9 per cent: QoQ increase in sales of washed coking coal in Q2 2025.

Sources:

  • BERNAMA News Agency (July 25, 2025)
  • Mongolian Mining Corporation (unaudited operational update)