Sales income of Mogoin Gol JSC, which is listed in classification II of the Mongolian Stock Exchange, has reached MNT 2.5 billion, increasing by 31 percent compared to 2016. Coal production increased by 20 percent to 100 thousand tons. Of these, 74,900 tons of coal were sold. There are four companies that buy coal from Mogoin Gol JSC and supply it to the Chinese market. For them, supplying a total of 18,000 tons of coal to China in 2017 affected the growth of sales income in 2017. In addition, general and administrative expenses have increased by 19 percent to MNT 196 million.The MSE reported that the company has earned net income of MNT 245.5 million by the end of 2017, increasing by 2.2 times compared to the previous year. The coal mining company in Mogoin Gol deposit supplies coal to Huvsgul and Zavkhan provinces. The company operates coal from Khuvsgul aimag and Zavkhan province. For the company, the shares have risen by about 5 percent over the past year and are now trading at MNT 8000. As of March 9, the company’s market capitalization was estimated to be MNT 6.6 billion. Mogoin Gol JSC is planning to mine 100 thousand tons of coal and sell 80 thousand tons of it in 2018.

Source: BloombergTv.mn