Govt to Set Up SEBI-Regulated Mineral Trading Exchange
He said guidelines under recently passed legislation would be issued soon.
Hyderabad:Union mines minister Kishan Reddy announced plans to set up a SEBI-regulated mineral trading exchange, modelled on the London Metal Exchange, to ensure fair price discovery for industries and traders. He said guidelines under recently passed legislation would be issued soon.
On concerns over US tariffs, he said the impact on India’s coal industry would be minimal, noting that the government had cut coal imports significantly, saving around Rs 60,000 crore in foreign exchange. Private steel companies, he said, were being urged to recalibrate boilers to use Indian coal.
Efforts were also underway to ramp up coal, iron ore and aluminium production to strengthen exports, in line with Prime Minister Narendra Modi’s directive to boost iron ore exports.
