MMC releases a fourth quarter report for 2017 www.gogo.mn
On January 15, Hong Kong Stock Exchange listed Mongolian Mining Corporation (MMC) released a report on its preliminary activity in the fourth quarter of 2017, excluding audit results.
MMC reports that it extracted 8.3 million tons of coal and produced 8 million tons in 2017. Four million tons of coal extracted was processed and 3.6 tons of concentrated coal was sold last year.
Compared to 2016, the volume of coal extracted increased by 179 percent, the volume of processed coal grew by 166 percent, and coal sold grew by 132 percent. The fourth quarter saw a 31 percent increase in coal extraction, and with coal production increased by 15 percent compared to Q4’16.