Mongolian Mining Corporation (MMC), the largest privately listed mining company with operations in Mongolia, has announced a significant milestone with the successful first gold pour at its Bayan Khundii (BKH) gold mine. This event, which took place on September 14, 2025, marks a pivotal moment as MMC progresses toward achieving nameplate capacity production by late Q4 2025.
The BKH gold mine, located in Bayankhongor aimag province, boasts a substantial gold reserve of 513,700 ounces with an average head grade of 4.0 grams per ton. The mine is anticipated to yield approximately 85,000 ounces of gold per year, with production costs positioned in the low quartile of all-in sustaining costs. The gold produced will be sold directly to Mongolia’s Central Bank at prevailing spot prices, thereby contributing positively to the nation’s foreign currency reserves and economic stability.
In a strategic move, MMC invested $40 million for a 50% equity stake in Erdene Mongol LLC, facilitated through a Strategic Alliance and Investment Agreement that came into effect on January 25, 2024. This investment transformed the BKH site from a greenfield project to a fully operational mining operation in a notable span of just 22 months.
Dr. Battsengel Gotov, Chief Executive Officer of MMC, expressed pride in reaching this critical milestone and commended the efforts of the employees, contractors, and strategic partners whose hard work contributed to the project’s successful execution. “This achievement not only reflects our commitment to diversifying our business portfolio but also underlines our objective of ensuring sustainable growth and long-term value creation,” he stated.
The company plans to maintain close collaboration with its strategic partner to bolster exploration efforts aimed at extending the mine’s life and bringing new deposits into production under the Strategic Alliance Agreement.
Mongolian Mining Corporation, publicly traded on the Hong Kong Stock Exchange since October 2010, has a diverse business portfolio that includes the development and operation of coking coal, gold, copper, and other non-ferrous metal assets primarily in southern and western Mongolia. The group operates two open-pit coking coal mines—Ukhaa Khudag and Baruun Naran—and continues to lead as the largest producer and exporter of washed hard coking coal in Mongolia.
As MMC advances toward its production targets, the future looks promising for both the company and the broader Mongolian economy, as new operational efficiencies and growth opportunities begin to emerge from its investments and partnerships. For more details on the Group and its operations, visit MMC’s official website.
