India's first mineral exchange aimed at creating a transparent, electronic delivery-based trading platform for miners will be registered and made operational in the next financial year FY 2027-28), a government official said on Wednesday, September 23.
The ministry of mines issued the framework - Mineral Exchange Rules 2026 - in June this year to create a transparent, electronic delivery-based trading platform for minerals, facilitate market-based price discovery and reduce information asymmetry between producers and buyers, additional secretary of the ministry of mines, Veena Kumari Dermal, said in a statement.
In the first phase, the exchange will cover iron ore, limestone, manganese and bauxite, and the Indian Bureau of Mines (IBM) will supervise the platform registration and eco-system audit under the mineral exchange rules, she said. The exchange will also feature risk-management mechanisms to prevent market manipulation and protect participants, Dermal said.
She said that it would provide producers and buyers with a reliable and globally competitive marketplace for minerals.
