At the regular meeting of the government, today /2024-02-28/ the government's resolution on adding copper concentrate and molybdenum concentrate to the types and categories of products to be traded on the commodities exchange was approved.

It is considered important to establish the sales evaluation of the products sold and shipped for sale by the body that trades copper concentrate and molybdenum concentrate products through the "Mongolian Stock Exchange" JSC, and to support transparent and open exchange trading.

As of now, 22 companies possess 27 special licenses for the extraction of copper and molybdenum. Notably, "Erdenet Mining Corporation" SOE holds two of these special licenses, with participation from state and local entities.

In 2024, this SOE has a contract to supply 621.5 thousand tons of copper concentrate to six enterprises and 6,240.0 tons of molybdenum concentrate to four enterprises.

With the approval of this decision, " Erdenet Mining Corporation" SOE will be responsible for trading copper and molybdenum concentrates through the exchange.

Taking into consideration the prior agreement, the Ministry of Mining and Heavy Industry of Mongolia has instructed " Erdenet Mining Corporation" SOE to facilitate the trading of five percent of mining products through the exchange in 2024.

Source: https://mongolia.gov.mn/news/view/26922

MONGOLIAN STOCK EXCHANGE