Mongolian Mining Corporation provided consolidated earnings guidance for the year ended December 31, 2012. For the year, the group is expected to record a consolidated loss as compared to a consolidated profit recorded for the year ended December 31, 2011. The loss for the year ended December 31, 2012 is mainly attributable to decrease of prices for coking coal products supplied by the Group due to market conditions in its principal market, the People's Republic of China, as demand from steel mills and coke plants was affected by global economic conditions; an increase in the Group's finance costs due to the issue of Guaranteed Senior Notes in March 2012; and an increase in the Group's costs related to accounting for inventory loss provisions.