Last Friday, November 22, 2024, Erdenes Tavan Tolgoi JSC (ETT) successfully traded 512,000 tons of thermal coalthrough an open electronic auction on the Mongolian Stock Exchange.
The auction included 80 lots, with the coal designated for delivery to Mandal Port in China. Starting at a base price of $48.8 USD per ton, competitive bidding raised the final transaction price to $49.8 USD per ton. Four buyers participated in this auction, highlighting robust demand in the market.
This latest transaction contributes to ETT’s impressive performance this year. As of November 22, the company has completed 114 electronic transactions, selling 24.5 million tons of coal and generating a total revenue of $2.8 billion USD.
ETT’s adoption of digital trading platforms not only enhances transparency but also demonstrates the growing role of technology in Mongolia’s resource-driven economy.
