Mongolian Mining Corporation (MMC), a Mongolian coking coal producer listed on the Hong Kong Stock Exchange, reported a 196.8% year-on-year rise in revenue to $546 million in 2022, the company said in the annual report.
The company bagged $58.89 million in net profit last year, compared with a loss of 55.44 million.
MMC said its coal sales in the first half of last year were severely impacted by the COVID, and sales registered noticeable improvement in the second half.
The company sold 4.7 million tonnes of coal in 2022, with 380 million tonnes completed over June-December.
Mongolian Mining Corporation is a high-quality coking coal producer and exporter in Mongolia and listed in the Hong Kong Stock Exchange. The Company owns and operates two open-pit coking coal mines - Ukhaa Khudag and Baruun Naran, both located in Umnugobi province of Mongolia.
(Writing by Emma Yang Editing by Alex Guo)
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