Municipal mineral product trading platform begins operating

On June 22, Guiyang's mineral product digital trading platform was launched, with its first transaction involving 4,000 metric tons of low-sulfur bauxite sold by Guizhou Shangxiao Mining Co.

After competitive bidding among several companies, an environmental company from Xiuwen county acquired the bauxite for 4.52 million yuan ($637,320).

Since it began trial operations, the platform has facilitated a cumulative transaction volume of 493,100 tons of mineral products worth 412 million yuan.

The platform is operated by Guiyang Mineral Energy Investment Group Co. As an important vehicle for implementing Guiyang's mineral product supply, sales, and storage system, the platform integrates industrial chains, supply chains, and financial chains, aiming to enhance the efficiency of mineral product circulation, improve supply capabilities, and standardize mineral product transactions.

The platform includes nine major business systems. Its trading system encompasses the publication of supply and demand information, listings, invitations, and bidding services of mineral products.