India has begun selecting companies that will be able to establish exchanges for trading minerals. This was reported by IANS, a TV BRICS partner.
The exchanges are intended to make commodity trading more transparent and help establish prices for minerals, concentrates and processed products, including metals. Contracts for the supply of raw materials will also be concluded on these platforms.
At the first stage, the exchanges will trade iron ore, chromite, bauxite, limestone and manganese. The list may be expanded later.
India approved the rules governing mineral exchanges on 30 June 2026. Existing commodity platforms will be required to register as mineral exchanges within the prescribed transition period. Unregistered exchanges will be prohibited from operating six months after the launch of the first new platform.
An exchange may be established by a company with a net worth of at least 500 million rupees (approximately US$5.2 million). Registration will be valid for 25 years.