Mongolian Mining Corporation

Mongolian Mining Corporation (MMC) is a Mongolian coking coal producer listed in the Hong Kong Stock Exchange. It is the largest coal mining company in Mongolia, owning two coal mines located in the Gobi Desert, namely the Ukhaa Khudag mine and the Baruu Naran mine.[2]

Mongolian Mining Corporation
TypePublic company
SEHK: 975
IndustryCoal mining
FoundedMay 18, 2010
Headquarters
Ulaanbaatar
,
Mongolia
Area served
Mongolia
Key people
Odjargal Jambaljamts (Chairman)
ProductsCoking Coal
ServicesCoal mining
RevenueUSD 99.5 million
– USD 187.8 million
Number of employees
1,897 (30 June 2015)
SubsidiariesEnergy Resources Mining LLC, Khangad Exploration LLC, Baruun Naran S.a.r.l[1]
WebsiteOfficial Website

History

MMC was incorporated in the Cayman Islands as an exempted company with limited liability on May 18, 2010 in anticipation of the Global Offering in Hong Kong. Prior to the incorporation, the business was operated by Energy Resources LLC, a limited liability corporation organized under Mongolian law on April 22, 2005,[3] currently an indirect wholly owned subsidiary of MMC.[1]

MMC was listed in the Hong Kong Stock Exchange on October 13, 2010.[4]

Operations

MMC is engaged in open-pit mining at the Ukhaa Khudag (UHG) deposit located within the Tavan Tolgoi coal formation in Southern Gobi via Energy Resources LLC, and operates the Baruun Naran mine via its wholly owned subsidiary, Khangad Exploration LLC.[5]

Shareholders

According to the 2014 Annual Report of MMC, Odjargal Jambaljamts, the Chairman of the company, is the largest shareholder of the company. Kerry Group Limited, a conglomerate in Hong Kong, also owns a substantial interest in MMC.[1]

References
  1. "Mongolian Mining Corporation Annual Report 2014" (PDF). Hkexnews.hk. Retrieved 2016-03-31.
  2. "Moody's downgrades Mongolian Mining to Ca; outlook negative". Moodys.com. 2015-09-01. Retrieved 2016-03-31.
  3. "Mongolian Mining Corporation (00975)". Hkexness.hk. Retrieved 2016-03-31.
  4. "Investment Service Centre : Mongol Mining (975)" (PDF). Hkex.com. Retrieved 2016-03-31.
  5. "Mongolian Mining Corporation – Mining". Mmc.mn. Retrieved 2016-03-31.
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