Erdenes Tavan Tolgoi ten-month sales near $2 billion, up 68.1%, net profit hits 1.5 trillion tögrög

Erdenes Tavan Tolgoi JSC's sales revenue for the first ten months of the year approached $2 billion, up 68.1% from the same period last year.

According to Eguur.mn and Record.mn, the state coal miner had planned a net profit of 1 trillion tögrög for the full year, but ten-month net profit already reached 1.5 trillion tögrög, beating the plan by 50%. The company also cut costs by 623 billion tögrög, and the volume of coal sold on delivered-to-border terms rose 3.4 times.

The company exported more than 28 million tonnes of coal over the period, 8.9 million tonnes or 48.3% more than a year earlier. Exports through the Khangi border crossing rose 7.5-fold compared with January to 5.8 million tonnes. Mongolia as a whole had exported 104 million tonnes of coal by November 1, against a full-year target of 90 million tonnes. Although monthly coal exports have reportedly slowed recently, the annual target has already been exceeded.

In the first ten months, Erdenes Tavan Tolgoi paid 1,422.6 billion tögrög in taxes and fees to national and local budgets, 132.7% of plan and 28.4% more than a year earlier.

Chief executive B. Chagnaadorj said: "In 2026 we will pay 480.3 billion tögrög in dividends to the National Wealth Fund and 1 trillion tögrög to the state budget." Every Mongolian citizen owns 1,072 shares in the company, and state dividends are an important budget source for measures such as salary and pension increases.

The news spread widely on X, where users welcomed it as good news while watching closely how the dividends will be spent.