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Mongolian Mining (975) investor relations material
Mongolian Mining H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Largest private mining group in Mongolia, diversified across coking coal, gold, silver, copper, and other metals, with major assets in southern and western Mongolia.
Revenue declined to USD823.4 million in 2025 from USD1,039.9 million in 2024, mainly due to lower average selling prices for coal products.
Adjusted EBITDA dropped to USD203.0 million from USD495.9 million year-over-year.
Net profit attributable to equity shareholders fell sharply to USD6.1 million from USD242.0 million.
Commenced commercial gold production at the Bayan Khundii (BKH) mine in September 2025, expanding beyond coal.
Financial highlights
Revenue for 2025 was $823 million, down from $1,040 million in 2024.
EBITDA for 2025 was $203 million, a significant decrease from $496 million in 2024.
Net profit for 2025 was $6.1 million, compared to $244 million in 2024.
Cash and cash equivalents increased to USD223.9 million at year-end 2025, from USD140.5 million in 2024.
Debt increased to $394 million as of year-end 2025, up from $236 million in 2024.
Outlook and guidance
Gold and silver production expected to ramp up following BKH mine commissioning.
Focus remains on prudent capital structure, scaling up production, infrastructure development, and exploring strategic partnerships.
Ongoing investments in both gold/metals and coal/energy assets, with $53 million and $47 million in CAPEX respectively for 2025.
Plans to update technical reports and resource estimates for gold, copper, and silver assets in 2026.
- Revenue up 4.7% to USD541.1M, net profit USD133M, and gold mine construction advanced.975
H1 20246 Oct 2025 - Stable profits, new gold mine progress, and no dividend amid higher costs and investments.975
H2 20246 Oct 2025 - Revenue and profit fell sharply on lower coal prices, with gold and copper projects advancing.975
H1 20256 Oct 2025
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