Mongolian Mining Corporation (MMC) is a
Mongolian
coking coal producer listed in the Hong Kong Stock Exchange. It is the largest
coal mining
Coal mining is the process of extracting coal from the ground. Coal is valued for its energy content and since the 1880s has been widely used to generate electricity. Steel and cement industries use coal as a fuel for extraction of iron from ...
company in Mongolia, owning two coal mines located in the
Gobi Desert
The Gobi Desert (Chinese: 戈壁 (沙漠), Mongolian: Говь (ᠭᠣᠪᠢ)) () is a large desert or brushland region in East Asia, and is the sixth largest desert in the world.
Geography
The Gobi measures from southwest to northeast an ...
, namely the Ukhaa Khudag mine and the Baruu Naran mine.
History
MMC was incorporated in the
Cayman Islands
The Cayman Islands () is a self-governing British Overseas Territory—the largest by population in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the ...
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, currently an indirect wholly owned subsidiary of MMC.
MMC was listed in the Hong Kong Stock Exchange on October 13, 2010.
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.
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.
References
{{Reflist
Companies listed on the Hong Kong Stock Exchange
Mining companies of Mongolia