Ulaanbaatar
Copper and Molybdenum Concentrate to be Traded through Mineral Commodities Exchange
Economy
Ulaanbaatar, 2024 February 28 /MONTSAME/ At its
regular session on February 28, 2024, the Government adopted a resolution to
add copper and molybdenum commodities to the List of Commodities to be Traded
through the Mineral Commodities Exchange.
Thus, the selling price of copper and molybdenum
concentrate will be defined based on the price set at the Mongolian Stock
Exchange, encouraging open and transparent stock exchange trade.
Currently, 22 entities possess 27 operating special
licenses for copper and molybdenum. The state and locally-owned Erdenet Mining
Corporation possesses two special licenses. The Corporation has a contract to
supply 621.5 thousand tons of copper concentrate to 6 entities, and 6.240.0 tons
of molybdenum concentrate to 4 entities this year.
Following the Government Resolution Erdenet Mining
Corporation is obliged to trade its copper and molybdenum concentrate through the
Mineral Commodities Exchange. The Mining and
Heavy Industry Minister of Mongolia Ganbaatar Jambal has informed that considering
the previously concluded contract the Mining Corporation was directed to trade
5 percent of its products through the Mineral Commodities Exchange
in 2024.
