Mongolia's MMC sees 23% y-o-y rise in Q3 raw coal production

SXCoal: The Mongolian Mining Corporation (MMC) produced 4.30 million tonnes (mnt) of raw coal in July-September 2024 (Q3CY'24), a 23% increase from the same period last year but a 10% drop from the previous quarter. The company processed 3.66 mnt of raw coking coal, down 6% y-o-y and 10% q-o-q. Washed coking coal production was 1.93 mnt, slightly down by 0.1% y-o-y and 13% q-o-q, while sales increased by 16% y-o-y but decreased 12% from the last quarter.

MMC noted that the weaker coking coal market in the third quarter was due to China's slowing steel industry. This led to fewer auctions of washed hard coking coal.

MMC, Mongolia's biggest washed coking coal producer, operates the Ukhaa Khudag and Baruun Naran mines through its subsidiaries. It also holds a 50% stake in Erdene Mongol LLC, which is developing the Bayan Khondii gold mine, expected to start production in 2025.

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