Mongolia revises coal auction rules to vitalize exports

Mongolia has amended the coal auction regulations through the Mongolian Stock Exchange (MSE), stipulating application of its newly introduced index for forward contract pricing and providing more flexibility in payment in a bid to reverse the export stalemate that Mongolian coal has been experiencing since this year, Mongolian media iKon.mn reported in late March.

The auction system, designed for export trades involving all types of coal, was imposed by the Mongolian government in February 2023 to replace the long-term contracts favored by Chinese buyers. The latest regulation amendments are focused mainly on coking coal, Mysteel Global notes. The MSE has decided to introduce a