Mongol Mining's total coal production from its UHG and BN mines in Q4 was 3.6845 million tons, representing a 20% YoY increase.
1min read MONGOL MINING (00975) announced that the total coal production of its UHG and BN mines in the fourth quarter ended 31 December 2024 was 36.85 thousand tons, up 20% YoY and down 14% QoQ compared with the same period in 2023.The Group processed a total of 39.478 thousand tons of coking coal raw coal to produce 20.856 thousand tons of washed coking coal products, up 22% YoY and up 8% QoQ respectively.The Group sold a total of 18.861 thousand tons of washed coking coal products in the fourth quarter ended 31 December 2024, up 8% YoY and down 7% QoQ respectively.In 2024, the Group sold a total of 78.821 thousand tons of washed coking coal products, including 47.283 thousand tons of washed hard coking coal; 4.489 thousand tons of washed semi-soft coking coal; and 27.049 thousand tons of washed medium gray semi-hard coking coal. Therefore, hard coking coal, semi-soft coking coal and medium gray semi-hard coking coal accounted for 60%, 6% and 34% of the total washed coal products respectively.The Group continued to develop projects to advance the construction of the BKH mine in the fourth quarter ended 31 December 2024. According to the latest feasibility study (2023 feasibility study) prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) in 2023, the total production of the mine is expected to be 4.76 thousand ounces of extracted gold and 1.21 thousand ounces of extracted silver.As of 31 December 2024, the construction and installation of the processing plant has been completed about 67.0%. In addition, the Group has commissioned the integrated waste disposal facility and continues to advance the construction of non-processing facilities, including dormitories, studios, warehouses and laboratories.EM completed a six-hole diamond drilling program in the third quarter of 2024 with a total depth of 950 meters to test the potential of near mine resources west and north of the current designed BKH mine pit boundary (as defined in the 2023 feasibility study).The results of the expansion drilling combined with the 13,500 meters of reverse circulation grade control drilling completed in the fourth quarter ended 31 December 2024 will provide a basis for updating the geological data required for further refinement and updating of the long-term production plan of the BKH mine.
