Mongolia established the Exchange of Mining Commodity in 2023 following the approval of Law on the Exchange of Mining Commodity. The purpose of the law is to ensure open and transparent trading of mining commodity by state-owned enterprises, facilitate commodity trade agreements, oversee compliance and monitor contract implementation.

Under the law, the Mongolian Stock Exchange has been granted a special license to operate the trading of mining products and transactions have been conducted through this exchange since 2023. Currently, commodities such as coal, iron ore, fluorspar and copper concentrated are being traded.

Thus far, companies such as Erdenes Tavan Tolgoi, the locally-owned Tavantolgoi, Energy Resources (HK-listed Mongolian Mining Corporation), Khangad Exploration and Southgobi Diamond have sold coal through the exchange. Plus, Erdenet Mining Corporation and Usukh Zoos have traded copper concentrates while Monrostsvetment JSV and Darkhan Metallurgical Plant have traded their respective products. Meanwhile Oyu Tolgoi LLC is reportedy planning to trade its copper concentrate via the exchange after the expiration of its current sales contracts. Although it is not officially confirmed yet.

The end users and buyers of Mongolia’s mining products are typically the concentration and processing plants in northern China. Due to factors such as payment terms and delivery timelines, these plants often rely on intermediary buyers rather than making direct purchases. Since the launch of the Mining Commodity Exchange, buyers have diversified beyond China, with 424 companies from various countries, including Hong Kong, Singapore, Kazakhstan, South Korea, the United States, Japan, and Switzerland, registering as buyers. However, not all actively participate in trading; only 70–80 companies regularly engage in transactions, according to local news agency GoGo News.