Ulaanbaatar
Electronic Trading of Coal for Export
Economy
Ulaanbaatar,
January 15, 2024 /MONTSAME/ Mongolia is exporting
its coal at prices set via auctions on the Mongolian Stock Exchange (MSE). It
has been one year since the start of open electronic trading of coal for export
through the MSE.
The Government approved
the Regulations for open electronic trading of coal for export on December 14,
2022, deciding to conduct coal trading through the MSE. According to the
decision, the MSE organized the first electronic trading on January 12, 2023. Over
the past one year, a total of 15.1 million tons of coal was traded for MNT 7.4
trillion through the MSE.
Electronic trading of
coal through the stock exchange made coal trading open, transparent, and fair, allowing
Mongolians to sell the coal at the real market price.
Director of the
Business Development Department of the Mongolian Stock Exchange T. Hash-Erdene reported
that the trading rate in auctions 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.
At the beginning of the electronic trading, 45 customers or buyers were registered in the system, but today the number of registered buyer companies has reached 244.
After the parliament passed the Law on Mining Products Exchange, the law came into force on June 30, 2023. On this day, the Mongolian Stock Exchange received a special license to operate as a mining products exchange from the Financial Regulatory Commission of Mongolia.
To expand the open
electronic trading activities and to improve the management of the border port
for the delivery of auctioned mining products to the buyers on time, the Government
decided in May 2023 that the coal for export should pass through a special gate
at the Gashuunsuhait port.
