"Mongolian Stock Exchange" JSC started the first trading of iron concentrate today /September 15, 2023/ after expanding into a commodity exchange.

At the ceremony, Kh. Altai, Chief Executive Officer of "Mongolian Stock Exchange" JSC, T. Khash-Erdene, the Chief Business Development Officer of "Mongolian Stock Exchange" JSC, G. Dugarjav, Executive Director of "Darkhan Metallurgical Plant" JSC, Ts. Tugsbuyan, Manager of the Copper and Metal Group of "Erdenes Mongolia" LLC, N. Tegshjargal, Head of the Economic and Trade Policy Department of "Mongolrostsvetmet" SOE, and other officials participated.

Chief Executive Officer Kh. Altai opened the ringing of the bell ceremony and stated in his speech:

The Mongolian Stock Exchange has successfully organized coal trading, which is the main trading of mineral commodities, since the 1st quarter of 2023 and traded 5.7 million tons of coal. On this day, the 125th trading session of commodities and the first trading session of iron concentrate began.

According to the Law on Mining Products Exchange, the products of state-owned and state-owned companies are obliged to be traded through the "Mongolian Stock Exchange".

As a result, real conditions have been created for organizing and monitoring the trading system, determining the rights and obligations of participants in exchange trading, protecting their interests, and increasing the price of commodities.

In addition, within the scope of this duty, we have organized the work of expanding and forming the trading system by approving the "Procedures for Establishing and Implementing Standards for Trading Contracts for Iron and Concentrates," and we are thus ready for the first trading of iron concentrates.

The representatives of "Erdenes Mongol" LLC, "Mongolrostsvetmet" SOE, and "Darkhan Metallurgical Plant" JSC, which signed the contract as the first sellers of iron concentrates, arrived at the trading hall of MSE, and we started the ringing of the bell ceremony together.

Ts. Tugsbuyan, Manager of the Copper and Metal Group of "Erdenes Mongol" LLC, said:

Today, "Erdenes Mongol" LLC is able to sell and has started the process of trading commodities at international market prices, including iron concentrate, for the first time with the help of the Mongolian Stock Exchange. The company exports three types of iron concentrate. In 2023, more than 1 million tons of iron concentrate are expected to be traded on the exchange. I would like to thank the management and staff of the Mongolian Stock Exchange for their support until this day."

Dugarjav, Chief Executive Director of "Darkhan Metallurgical Plant" JSC, said:

"Today, we are witnessing the historical event of trading iron concentrate on the Mongolian Stock Exchange for the first time in Mongolia. The main advantage of trading products on the exchange is that the product is sold at a higher price than the nominal price. In this way, our country's mineral products value gets closer to the international market price. Previously, we used to charge 50% of the base price in advance for our trades, but by trading our products on the Mongolian Stock Exchange, we have the huge advantage of a 100% cash advance, which increases the cash flow of the company.

Also, the Mongolian Stock Exchange is bringing great progress to the country's economy by creating an open and transparent market system for mining products and putting them into economic circulation.

In the end, the representatives of "Mongolrostsvetmet" SOE and "Darkhan Metallurgical Plant" JSC rang the bell and opened the trade.

MONOGLIAN STOCK EXCHANGE