Mongolian Mining Corporation Announces 2024 Annual Results

HONG KONG, March 24, 2025 (GLOBE NEWSWIRE) -- Mongolian Mining Corporation ("MMC" or the "Company", or together with its subsidiaries, the "Group"; stock code: 975), the largest producer and exporter of washed hard coking coal ("HCC") in Mongolia, today announced its annual results for the year ended 31 December 2024 ("FY2024" or the "Year").

During the Year, the Group's revenue reached a record high level of USD1,039.9 million (FY2023: USD1,034.8 million). The Group sold a total of 8.6 million tonnes ("Mt") of coal products in FY2024, comprising of 7.8 Mt of primary products (including 4.7 Mt of HCC), and 0.8 Mt of secondary products.

The Group's average selling price for HCC, excluding applicable VAT in PRC, was USD168.4 per tonne, compared to USD160.2 per tonne during the year ended 31 December 2023.

The Group's gross profit for the Year was approximately USD411.7 million. The profit ...