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The Government of India will allow major minerals to be traded on a regulated electronic exchange from the next financial year, moving mineral pricing towards transparent, market-based discovery.
The first phase will cover four minerals: iron ore, limestone, manganese and bauxite.
The Indian Bureau of Mines will register exchange platforms and audit the trading ecosystem under the Mineral Exchange Rules, 2026, and can set floor or ceiling prices, suspend trading in volatile periods and withdraw contracts.
The draft rules, issued on 19 March 2026 for a 30-day public consultation, proposed safeguards against insider trading, circular trading and cartelisation.
Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2026 on 13 August 2026, creating a uniform national fiscal framework by limiting additional state levies on mineral rights.
Draft Mineral Exchange (Regulation) Rules, 2026 issued for a 30-day public consultation, proposing curbs on insider trading, circular trading and cartelisation
Ministry of Mines publishes the Mineral Exchange Rules, 2026, naming the Indian Bureau of Mines as the supervising authority
Parliament passes the MMDR Amendment Bill, 2026, limiting the power of States to impose additional taxes or levies on mineral rights
Exchange trading begins with iron ore, limestone, manganese and bauxite, with scope to expand after regulatory testing
| Aspect | Major Minerals | Minor Minerals |
|---|---|---|
| Who regulates | Central Government | State Governments |
| Examples | Coal, iron ore, limestone, copper, manganese, bauxite | Building stones, ordinary clay, ordinary sand used for stowing |
| Number retained by States | Not applicable | 49 minor minerals |
| Covered in exchange Phase 1 | Iron ore, limestone, manganese, bauxite | Not covered |
The principal law governing mineral development in India and the basis for classifying minerals as major or minor.
Passed by Parliament on 13 August 2026; creates a uniform national fiscal framework by restricting additional state taxes or levies on mineral rights.
Empower the Indian Bureau of Mines to register exchange platforms, audit the trading ecosystem and intervene in disorderly markets.
GS Paper 3 > Indian Economy > Resource mobilisation, infrastructure and mineral policy; GS Paper 2 > Centre-State fiscal relations
General Awareness > Economy and government schemes
General Awareness > Economic reforms, markets and regulators
General Awareness > Indian economy and current events
Minerals regulated by the Central Government under the MMDR framework, including coal, iron ore, limestone, copper, manganese and bauxite.
Minerals such as building stones, ordinary clay and ordinary sand used for stowing, over which State Governments retain regulatory powers; 49 in number.
Trades executed in a loop among colluding parties to create an illusion of volume or to manipulate price, without genuine change of ownership.