Mongolian Mining Corporation earns profit of USD 252 millionEconomy
Ulaanbaatar /MONTSAME/ Mongolian Mining Corporation (MMC), the largest producer and exporter of hard coking coal in Mongolia, presented its 2019 year-end report. According to the report, the company earned profit of USD 252.1 million in 2019.
Total revenue of the company amounted to USD 626.6 million in 2019, showing an increase of 6.1 percent compared to the previous year. The company sold a total of 4 million tons of high quality coking coal last year and the average selling price for hard coking coal was USD 140.
Executive Director of MMC Company G.Battsengel's statement was cited in the report "We are gaining high income while reducing hazardous impacts on the environment and remaining focused on our commitment to safe and responsible mining operations. Also we can resolve issues to face in the future thanks to financial responsibility and persistent and close cooperation with our colleagues."