Kuala lumpur: Mongolian Mining Corporation (MMC), the largest producer and exporter of washed coking coal products in Mongolia, has announced a notable increase in its revenue for the first half of 2026. The company reported total revenue of approximately US$586.2 million for the six months ending June 30, 2026, marking a 69.0 percent increase compared to US$346.6 million in the same period the previous year.
According to BERNAMA News Agency, MMC attributed this substantial growth to increased sales volume and an improved average selling price (ASP) of washed coking coal. For 1H2026, the company's gross profit was approximately US$134.9 million. The group's profit and profit attributable to equity shareholders were reported at US$105.9 million and US$89.0 million, respectively, compared to losses of US$19.9 million and US$23.3 million in 1H2025.
The rise in profit was mainly due to higher sales volume and ASP of washed coking coal, along with a profit contribution from the company's gold and metals segment. Dr. Battsengel Gotov, MMC's Chief Executive Officer, highlighted the increased production and sales volume achieved by optimizing the use of existing assets while maintaining a prudent financial strategy to preserve the company's balance sheet and capital structure.
Dr. Gotov also noted the positive impact of the Bayan Khundii mine, which began contributing to MMC's revenue, thereby diversifying the company's commodity exposure and enhancing its business portfolio's resilience. During the first half of 2026, MMC sold approximately 5.7 million tonnes (Mt) of washed coal products, an increase from 4.2 Mt in 1H2025.
The Bayan Khundii gold mine contributed US$94.7 million, accounting for 16 percent of MMC's total revenue during 1H2026, its first full reporting period of commercial production. The group successfully sold 20,236 ounces of gold and 6,452 ounces of silver to the Bank of Mongolia and its authorised commercial banks, with ASPs of US$4,654 per ounce for gold and US$76 per ounce for silver, respectively.