Summary by Futu AI
Mongolian Mining Corporation announced on 22 April 2024 unaudited operating data for the quarter ended 31 March 2024. In the quarter, the total raw coal production volume of Mongolia's largest producer and exporter of laundered coal was 3,563.7K tonnes, down 8% year-on-year and 16% year-on-year. Geogugan coal was processed at 3,694.6 thousand tons, producing 2,161.7 thousand tons of washed coal products, an increase of 47% year-on-year. Shed coal sold amounted to 1,650.3 thousand tons, up 3% year-on-year, but decreased by 5% year-on-year. In addition, the Bayan Khundii gold mine under development by the company, Erdene Mongol LLC, is expected to start producing gold in 2025. The company has completed early works and site construction, and trained the workforce operating the BKH mine in preparation for the start of operations in 2025. THE COMPANY EMPHASIZES THAT THESE OPERATING DATA SHOULD NOT BE CONSIDERED AS PREDICTIONS OR GUARANTEES OF FUTURE OPERATING CONDITIONS.