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Mongol Mining's total coal production from UHG and BN mines in Q3 was 4.2989 million tons, up 23% YoY

AInvestMonday, Oct 14, 2024 4:51 am ET
1min read

MONGOL MINING (00975) announced that the total mined raw coal (raw coal) at the Group's UHG and BN mines in the quarter ended September 30, 2024 was 4.2989 million tons, up 23% YoY and down 10% QoQ from the same period in 2023.The Group processed 3.6587 million tons of coking coal raw coal to produce 1.9289 million tons of washed coking coal products, flat YoY.The Group's operating subsidiaries ER and KEX sold a total of 2.0314 million tons of washed coking coal products in the third quarter of 2024, up 16% YoY and down 12% QoQ from the reported level in the previous quarter.The Group continued to develop project to advance the construction of the BKH mine. According to the latest feasibility study prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI43-101) in 2023, the total production of extracted gold and extracted silver at the mine is expected to be 4.76 thousand ounces and 12.1 thousand ounces respectively.As of September 30, 2024, the construction and installation of the processing plant has been completed about 55.0%. In addition, the Group has started to build non-processing facilities, including dormitories, studios, warehouses and laboratories.

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