India’s Ministry of Mines has introduced a bill in the lower house of Parliament to establish a national minerals exchange aimed at regulating the trading of minerals and metals, a copy of the bill showed.
The proposed exchange would facilitate trading in minerals and metals under rules framed by the central government.
It would also maintain a comprehensive data bank of trading activity and include regulations to prevent insider trading and market manipulation.
A government-appointed panel had proposed setting up India’s first iron ore exchange to determine the domestic scale price of the key steelmaking raw material, Reuters reported in April last year.
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