[SMM Chromium Flash] India Opens Mineral Exchange Registration Including Chromite
India has opened the registration process for companies seeking to establish and operate mineral exchanges under the Mineral Exchange Rules, 2026, with the Indian Bureau of Mines (IBM) issuing its application notice on October 1 and publishing the documents on October 3. The initial scope covers five minerals — iron, chromite, bauxite, limestone and manganese — and applications are due by November 2. The proposed exchanges are intended to facilitate organised trading and improve transparency in India's mineral markets.
For the chromium industry, the inclusion of chromite is particularly significant as it could introduce a more formal mechanism for domestic price discovery and transaction transparency in one of India's key chromite-producing markets. The framework envisages trading, price dissemination and delivery-based contracts, potentially providing miners, processors and ferrochrome producers with an additional reference point for chromite transactions. However, the eventual impact on pricing and liquidity will depend on the exchange operator, participation and the volume of chromite traded once the platform becomes operational.