Government Invites Applications to Set Up Mineral Exchanges
COAL & MINING

Government Invites Applications to Set Up Mineral Exchanges

The Indian Bureau of Mines (IBM) has opened the process for establishing mineral exchanges in India by inviting applications from eligible companies. The notice was issued on October 1, published on the IBM website on October 3, and sets November 2 as the application deadline. Applicants must submit sealed applications to the Controller of Mines, Minerals Development and Regulation Division, IBM, Nagpur.

The process follows the government’s notification of the Mineral Exchange Rules, 2026, on June 30. The rules establish a regulatory framework covering mineral exchanges, market participants, assaying agencies and delivery-based contracts. Commodity trading platforms operating before the rules took effect will have six months from the operationalisation of the first mineral exchange to register, failing which they must cease operations.

A mineral exchange can initially facilitate trading in all or any of five minerals: iron, chromite, bauxite, limestone and manganese. Additional minerals may subsequently be added with IBM’s prior approval, subject to exclusions specified under the rules. Registration will remain valid for 25 years.

An applicant must be a company limited by shares and have a minimum net worth of Rs. 500 mn. The fee structure includes a non-refundable application fee of Rs. 300,000, a one-time registration fee of Rs. 5 mn and an annual fee of Rs. 3 mn. The renewal fee has been set at Rs. 20 mn.

The government plans to use the exchange as a technology-enabled platform for mineral transactions, with the objective of improving transparency, efficiency, price discovery and dissemination. The platform will also support the design of commodity supply contracts and help ensure timely delivery in line with contractual obligations. The Mines and Minerals (Development and Regulation) Act, 1957, provides for developing markets for minerals, concentrates and processed forms, including metals, through mineral exchanges.

The Indian Bureau of Mines (IBM) has opened the process for establishing mineral exchanges in India by inviting applications from eligible companies. The notice was issued on October 1, published on the IBM website on October 3, and sets November 2 as the application deadline. Applicants must submit sealed applications to the Controller of Mines, Minerals Development and Regulation Division, IBM, Nagpur. The process follows the government’s notification of the Mineral Exchange Rules, 2026, on June 30. The rules establish a regulatory framework covering mineral exchanges, market participants, assaying agencies and delivery-based contracts. Commodity trading platforms operating before the rules took effect will have six months from the operationalisation of the first mineral exchange to register, failing which they must cease operations. A mineral exchange can initially facilitate trading in all or any of five minerals: iron, chromite, bauxite, limestone and manganese. Additional minerals may subsequently be added with IBM’s prior approval, subject to exclusions specified under the rules. Registration will remain valid for 25 years. An applicant must be a company limited by shares and have a minimum net worth of Rs. 500 mn. The fee structure includes a non-refundable application fee of Rs. 300,000, a one-time registration fee of Rs. 5 mn and an annual fee of Rs. 3 mn. The renewal fee has been set at Rs. 20 mn. The government plans to use the exchange as a technology-enabled platform for mineral transactions, with the objective of improving transparency, efficiency, price discovery and dissemination. The platform will also support the design of commodity supply contracts and help ensure timely delivery in line with contractual obligations. The Mines and Minerals (Development and Regulation) Act, 1957, provides for developing markets for minerals, concentrates and processed forms, including metals, through mineral exchanges.

Related Stories

Gold Stories

Next Story
Technology

Where Infrastructure Meets Intelligence: Inside Bentley's Year inc

Oct 28, 2026  @Tanveer PadodeA first-hand account of Bentley’s 2026 awards, where AI, digital twins and engineering innovation are reshaping infrastructure delivery.- By Tanveer Padode, CEO, IMPACCT: A first-hand account of Bentley’s 2026 awards, where AI, digital twins and engineering innovation are reshaping infrastructure delivery.Two days in SingaporeConstruction is won or lost in two places: how a project is designed and how it is delivered. Technology has promised to improve both for years, and the question I carried into Bentley's Year in Infrastructure, held at the Fairmont Si..

Next Story
Infrastructure Transport

Vaishnaw Inaugurates Two Rail Sections in Madhya Pradesh

Railway Minister Ashwini Vaishnaw on October 24 inaugurated the Satna-Devendranagar and Rewa-Churhat rail sections under the Lalitpur-Singrauli Railway Project in Madhya Pradesh. He also flagged off the new Devendranagar-Churhat passenger train service through video conferencing. Chief Minister Dr Mohan Yadav attended the event. The new Rewa-Churhat railway line, which extends approximately 65 km, was built at a cost of over Rs. 10 bn. The 53 km Satna-Devendranagar line was constructed at a cost of over Rs. 8 bn. The passenger service is expected to provide improved rail access to residents in..

Next Story
Infrastructure Transport

Railways Minister to Inaugurate New Rail Sections Covering 118 km

Railways Minister Ashwini Vaishnaw will inaugurate the Satna-Devendra Nagar and Rewa-Churhat rail sections in Madhya Pradesh on October 24. The two sections have a combined length of 118 km and are intended to improve passenger and freight connectivity across the region. Vaishnaw will also flag off a new train service between Devendra Nagar and Churhat. Madhya Pradesh Chief Minister Mohan Yadav will attend the inauguration programme, according to information released by the Ministry of Railways. The 53-km Satna-Devendra Nagar section is expected to improve rail access to Satna, Nagod, Devendra..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code