Overview

• Union Coal and Mines Minister G Kishan Reddy announced a plan to create a mineral trading exchange modeled on the London Metal Exchange.
• The exchange will operate under SEBI norms and is provided for in recently passed legislation, with guidelines to follow soon.
• Officials say the platform is intended to improve price discovery for industries, traders and other stakeholders.
• Reddy said coal imports have fallen, saving about Rs 60,000 crore in foreign exchange, and urged steelmakers to recalibrate boilers to use Indian coal.
• He added that the government aims to boost production and exports of coal, iron ore and aluminium, and that recent US tariffs are expected to have limited domestic impact.