Indian Bureau of Mines invites applications to establish mineral exchanges
By Staff Report 1 October 5, 2026 6:29 pm IST
The Indian Bureau of Mines has invited eligible companies to establish mineral exchanges, initially covering trading in five specified minerals.
The Indian Bureau of Mines (IBM) has invited applications from eligible companies to establish and operate mineral exchanges in India. The move follows the notification of the Mineral Exchange Rules, 2026, on June 30, which establish the regulatory framework for mineral exchanges, market participants, assaying agencies and delivery-based contracts.
The IBM, appointed as the registration and regulatory authority for minerals covered under the rules, issued the application notice on October 1. The notice was published on the IBM website on October 3, with applications due by November 2.
Initially, mineral exchanges will be permitted to facilitate trading in all or any of five minerals: iron, chromite, bauxite, limestone and manganese. Additional minerals may be included later with prior approval from the authority, subject to exclusions specified under the rules.
The government envisages mineral exchanges as technology-enabled platforms for facilitating transactions, price discovery and dissemination. The platforms will also support the design of commodity supply contracts and timely delivery in accordance with contractual obligations.
Under the Mines and Minerals (Development and Regulation) Act, 1957, the government can promote a market for trading minerals, concentrates and processed forms, including metals, through mineral exchanges.
Companies seeking registration must be limited by shares and have a minimum net worth of ₹50 crore. Registration will be valid for 25 years. The application fee is ₹3 lakh and is non-refundable. A one-time registration fee of ₹50 lakh and an annual fee of ₹30 lakh will also apply. The renewal fee has been fixed at ₹2 crore.
Eligible companies have been asked to submit sealed applications to the Controller of Mines, Mineral Exchange Cell, MDR Division, IBM, Nagpur, along with the prescribed fee.
Source: Business Standard
