Government Invites Eligible Firms to Establish Mineral Exchanges

The government has started the process for setting up mineral exchanges in India, with the Indian Bureau of Mines (IBM) inviting applications from eligible companies, according to a news report.  

The notice was issued on October 1, 2026, and published on the IBM website on October 3, 2026. Interested firms have been given until November 2, 2026, to submit their applications. 

Five Minerals Covered Initially 

A mineral exchange can initially facilitate trading in all or any of five minerals, iron, chromite, bauxite, limestone and manganese.  

Other minerals may be brought under the exchange at a later stage with prior approval from the IBM, subject to the exclusions prescribed under the Mineral Exchange Rules, 2026. 

₹50 Crore Minimum Net Worth 

Companies seeking registration must be companies limited by shares and have a minimum net worth of ₹50 crore. The application carries a non-refundable fee of ₹3 lakh, while the one-time registration fee is ₹50 lakh.  

Registered exchanges will also have to pay an annual fee of ₹30 lakh. The renewal fee has been fixed at ₹2 crore. 

Registration Valid For 25 Years 

Registration as a mineral exchange will remain valid for 25 years. The IBM has asked applicants to submit sealed applications to the Controller of Mines, Minerals Development and Regulation Division, IBM, Nagpur. 

Commodity trading platforms that were already operating before the rules came into effect will get six months from the operationalisation of the first mineral exchange to register under the new framework. Platforms that do not register within this period will have to stop operations. 

Framework Notified In June 

The regulatory framework was established through the Mineral Exchange Rules, 2026, notified by the government on June 30. The rules cover mineral exchanges, market participants, assaying agencies, and delivery-based contracts. 

The proposed exchanges are intended to operate as technology-enabled platforms for mineral transactions, with a focus on transparent and efficient price discovery and dissemination.  

They will also support commodity supply contracts and timely delivery against contractual obligations. 

Legal Basis 

The Mines and Minerals (Development and Regulation) Act, 1957 provides for the development of a market for trading in minerals, concentrates and processed forms, including metals, through mineral exchanges. 

Read More: Maharashtra Government Signs 67 MoUs Worth ₹8.57 Lakh Crore With 65 Companies! 

Conclusion 

The application process marks the next step towards implementing the Mineral Exchange Rules, 2026. Eligible companies can submit applications until November 2, while the initial framework covers five minerals. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.