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Mauritian Exchange Sees $6.5 Billion Gold Trading in Five Years

  • Mindex expects to be trading 156 tons of bullion by 2023
  • Operations will include a vault, derivatives trading

A Mauritian commodity exchange that plans to start operating in the fourth quarter expects to trade $6.5 billion of gold annually within five years, part of the Indian Ocean island nation’s plan to become a financial gateway to Africa, its chairman said.

The introduction of the Mauritius International Derivatives and Commodities Exchange brings to fruition Prime Minister Pravind Jugnauth’s pledge last year to introduce gold trading to the country. Mauritius’s Financial Services Commission approved Mindex’s license application “in principle,” exchange Chairman Hirander Misra said Monday. Its operations will eventually include derivatives trading, a vault to store bullion and a refinery, he said.