Mongolian Mining Q3 Coking Coal Sales Drop 26% as Gold Sales Jump 3,366%

Mongolian Mining Corporation reported washed coking coal sales of 1,996.9 kilotonnes for the quarter ended September 30, 2026, a 26% year-on-year decline, while gold sales from its Bayan Khundii mine rose 3,366% to 11,853 ounces. The company said the figures are unaudited operational data. The announcement was distributed by GlobeNewswire.

Coking Coal Output and Border Crossings

Washed coking coal produced in the quarter fell 11% quarter-on-quarter to 2,503.1 kilotonnes, though it rose 19% from 2,103.0 kilotonnes a year earlier. Run-of-mine coal mined rose 8% quarter-on-quarter and 33% year-on-year to 4,791.2 kilotonnes, while ROM coking coal processed fell 6% quarter-on-quarter to 4,253.2 kilotonnes.

The company said coking coal prices in China rebounded strongly during the quarter, driven primarily by constrained supply from domestic producers. Coal-loaded trucks crossing the border to Ganqimaodu averaged 897 per operating day, 34% lower than the 1,366 average in the quarter ended June 30, 2026 and 29% lower than the 1,270 average in the quarter ended March 31, 2026. The year-to-date average of 1,177 trucks per operating day as at September 30, 2026 was 15% higher than the 1,023 average for the year ended December 31, 2025.

Bayan Khundii Gold Volumes

At the Bayan Khundii mine, ore mined rose 68% quarter-on-quarter and 212% year-on-year to 414.9 kilotonnes. Ore processed rose 7% quarter-on-quarter and 710% year-on-year to 164.5 kilotonnes. Gold sold rose 1% quarter-on-quarter to 11,853 ounces from 11,709 ounces, and the weighted average gold price was $4,315 per ounce, down 4% quarter-on-quarter but up 13% year-on-year. Commercial gold production at the mine began on September 14, 2025.

Gold Joint Venture and Coal Plant

Mongolian Mining holds a 50% stake in Erdene Mongol LLC, the joint venture for gold operations at the Bayan Khundii Gold Mine, which achieved first gold production in the third quarter of 2025 and commercial production in the first quarter of 2026, according to akta.pro company records. The company began trading on the OTCQX market in December 2024, broadening US investor access beyond its Hong Kong Stock Exchange primary listing. Sedgman Company of Australia designed and built the coal handling and preparation plant, the first of its kind in Mongolia.

First-Half Results and Earlier Quarters

Mongolian Mining reported a 69% year-on-year increase in first-half revenue to $586.2 million, driven by higher coking coal sales volumes and prices alongside its first full reporting period of commercial production at Bayan Khundii, according to FinancialContent Business Page. Tipranks reported the company turned to a $105.9 million profit for the first half of 2026. In July 2026, Investing.com reported that the company produced 2,814.1 thousand tonnes of washed coking coal in the second quarter, a 24% increase quarter-on-quarter and 29% year-over-year.

Next Steps for Mongolian Mining

The company said the operational data are not an express or implied forecast or guarantee in respect of its future operating conditions. It said various factors may affect results, including force majeure events, changes in market conditions and regulatory interferences.