India’s Ministry of Mines introduces bill for national minerals exchange
Investing.com -- India’s Ministry of Mines has introduced a bill in the lower house of Parliament to establish a national minerals exchange that would regulate the trading of minerals and metals.
The proposed exchange would operate under rules created by the central government to facilitate trading in minerals and metals, according to a copy of the bill.
The exchange would also maintain a comprehensive database of all trading activity and include regulations designed to prevent insider trading and market manipulation.
This initiative follows a recommendation made by a government-appointed panel that had proposed establishing India’s first iron ore exchange. That panel suggested using such an exchange to determine the domestic scale price of iron ore, which is a key raw material in steel production.
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