In Section 2 of the 50th Note, at the meeting of the Government of Mongolia on December 13, 2023, the Minister of Mining and Heavy Industry received instructions to observe the steady trading of copper concentrate via the commodity exchange, and the Minister was directed to implement measures to initiate trial trading.

Subsequently, the Ministry of Mining and Heavy Industry developed a proposal to add copper and molybdenum concentrate products to the "types and categories of products to be traded on the commodities exchange." The proposal was discussed and decided at the government meeting on February 28, 2024, and approved by Government Resolution No. 223 of 2023. 

In the initial phase, the Mongolian government is pursuing a policy that involves trading 10% of the overall copper concentrate produced and exported by the country through the stock exchange. Today, March 18, 2024, the Ministry of Mining, Heavy Industry, and the "Mongolian Stock Exchange" JSC collaborated to host a discussion on the topic of “Trade of copper concentrate on the commodity exchange." 

The discussion was held in the hall and online with the participation of the seller and buyer parties, and the parties exchanged opinions on relevant issues such as trading principles and contract conditions.

More than 200 representatives from China, South Korea, Vietnam, Singapore, Hong Kong, Russia, Switzerland, the USA, Canada, India, Australia, England, and Turkey, as well as domestic enterprises’ representatives, participated in the discussion.

Mongolia has guaranteed reserves of 56.5 million tons of copper metal, and by the end of 2023, 1,525,000 tons of copper concentrate have been produced and exported. In the future, the Oyu Tolgoi project's underground mine will reach its full capacity, the Tsagaan Suvarga deposit project will be implemented, and it will be possible to produce 1.9 million tons of copper concentrate by 2025.

MONGOLIAN STOCK EXCHANGE