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Mining industry

Mongolian Mining Corporation Reports Strong Q3 2025 Update

Strategic Insights

— 2 min read

The Mongolian Mining Corporation has announced a robust quarterly update for the three months ended September 30, 2025. The company's diversified mining portfolio has delivered strong coal sales, with a significant milestone marked by the launch of commercial gold production at its Bayan Khundii (BKH) mine. The group's subsidiaries have reported notable increases in coal sales and production, while the BKH gold mine has begun its commercial production phase.

Key Takeaways:

  • The Mongolian Mining Corporation's wholly owned subsidiary, Energy Resources LLC (ER), and its majority-owned subsidiary, Khangad Exploration LLC (KEX), sold a combined 2,303.2 thousand tonnes (kt) of washed coking coal in Q3 2025, representing a 32 per cent quarter-on-quarter (QoQ) increase and 13 per cent year-on-year (YoY) growth.
  • The group's run-of-mine (ROM) coal mining combined output from Ukhaa Khudag (UHG) and Baruun Naran (BN) mines totalled 3,604.3 kt in Q3 2025, up five per cent QoQ but down 16 per cent YoY.
  • The group processed 3,753.8 kt of ROM coking coal to produce 2,103.0 kt of washed coking coal in Q3 2025, reflecting a three per cent QoQ decline but a nine per cent YoY rise.
  • Erdene Mongol LLC (EM), a subsidiary in which the group holds a 50 per cent equity stake, has officially launched commercial production at the BKH gold mine in Bayankhongor aimag (province) on September 14, 2025.
  • EM sold 342 ounces (oz) of gold and 96 oz of silver to authorise commercial banks in the quarter, with a weighted average gold price of US$3,805.18/oz and a silver price of US$44.15/oz.
  • The BKH mine is expected to achieve its nameplate production capacity within the fourth quarter of 2025, with a processing plant designed to handle 650,000 tonnes of ore per year, resulting in up to 85,000 oz of gold per year, based on the 2023 feasibility study.

Statistics:

  • 2,303.2 kt - Combined washed coking coal sales by ER and KEX in Q3 2025 (32% QoQ and 13% YoY increase)
  • 3,604.3 kt - Total ROM coal mining output from UHG and BN mines in Q3 2025 (5% QoQ increase, 16% YoY decline)
  • 3,753.8 kt - Total ROM coking coal processed in Q3 2025 (3% QoQ decline, 9% YoY rise)
  • 2,103.0 kt - Total washed coking coal produced in Q3 2025
  • 342 oz - Gold sold by EM in Q3 2025
  • 96 oz - Silver sold by EM in Q3 2025
  • US$3,805.18/oz - Weighted average gold price in Q3 2025
  • US$44.15/oz - Weighted average silver price in Q3 2025
  • 650,000 tonnes - Annual ore processing capacity at the BKH mine
  • 85,000 oz - Expected annual gold output at the BKH mine

Sources:

  • BERNAMA News Agency (October 16, 2025)

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