Results

Invescore NBFI JSC

04/02/2024 | Press release | Distributed by Public on 04/02/2024 03:15

TO THE ATTENTION OF BUSINESS ENTITIES INVOLVED IN COPPER CONCENTRATE TRADE

As part of the implementation of the Law on Mining Products Exchange and related Government resolutions issued per it, copper concentrates to be exported will be traded on the Commodities Exchange from April 2024.

Please note that preparations have been made in connection with this process, and the following general principles should be followed by enterprises participating in the copper concentrate trade.

It includes:

  1. Pricing principle: By the pricing principle, the initial call price is determined by referencing the world market price of metallic copper with a copper content of 99.99% in the concentrate. Moreover, the copper smelting cost (T/C) is fixed at $15, while the copper refining cost (R/C) stands at $15. Furthermore, a deduction of 0.5% is subtracted from the concentrated content for the metal deduction, ultimately leading to the determination of the price for one ton of concentrate.

  1. Trading principle: Before the start of trading, an auction schedule will be uploaded to the website of "Mongolian Stock Exchange" JSC five business days in advance. This schedule will outline the trading day and time, quantity of product lots, product quality information, contract period, minimum call price, delivery and shipping conditions, as well as the deposit amount.

  1. Deposit: The deposit amount is announced depending on the order quantity submitted by the seller, minimum call price, and trading conditions. The deposit is at least 5% for spot trading.

  1. Guarantee: After the seller delivers the traded product to the buyer and submits the deed of acceptance of the product, the deposit placed in the exchange will be transferred to the seller.

  1. Product delivery point and delivery conditions: DAP Ereen Station, Ereen City, China

  1. Product delivery time: For spot contract, within 30 days after contract payment

Note: "Mongolian Stock Exchange" JSC is authorized to organize the trading of the commodities, and the rules and regulations related to participation in trading can be found at the link https://mse.mn/mn/content/list/253 , and trading announcements and schedules can be found at https://mse.mn/mn/auction_schedules/252.

MONGOLIAN STOCK EXCHANGE