Electronic Trading of Copper Concentrate to be Discussed

2024-02-14 12:18:53

Ulaanbaatar, February 13, 2024 /MONTSAME/. The Mongolian Stock Exchange (MSE) began electronic trading of coal last year. Currently, in addition to coal and coking coal, mining products and mineral resources such as iron ore and ore concentrate are traded electronically. Soon, trading of copper concentrate for export will commence.

As part of the preparation for this trade, the Mongolian Stock Exchange has announced that a discussion on “Electronic Trading of Copper Concentrate for Export” will be held on March 18, 2024.

Management, employees, and experts of the Financial Regulatory Commission of Mongolia, Mongolian Stock Exchange, and "Erdenes Mongolia" LLC will participate in the discussion and provide information and exchange ideas with copper concentrate sellers, buyers, and other participants.

The Mongolian Stock Exchange traded mining products worth MNT 7.7 trillion in one year.

At the meeting of the Cabinet on December 14, 2022, the "Regulations for open electronic trading of coal for export" were approved, and it was decided to conduct coal trading openly and transparently through the Mongolian Stock Exchange. According to the decision, the Mongolian Stock Exchange successfully organized the first electronic trading on January 12, 2023.

Thus, by organizing the trading of mining products in an open, transparent, and fair manner and creating the opportunity to determine the real market price, in the past year, the selling companies have traded 15.1 million tons of coal for MNT 7.4 trillion through the Mongolian Stock Exchange.

Call trading rates increased by an average of 10.7 percent, and selling companies earned a total of MNT 529.7 billion in additional income from the exchange rate difference.