Ministry of Coal notifies Coal Exchange Rules, 2026

The Ministry of Coal has notified the Coal Exchange Rules, 2026, paving the way for the establishment of coal exchanges in the country. The rules lay down the eligibility criteria, governance framework and operational requirements for setting up and operating such exchanges. The rules aim to shift coal marketing from the traditional one-to-many sales model to a competitive many-to-many trading platform, enabling transparent price discovery and wider market access. Applicants seeking to establish a coal exchange must have a minimum net worth of Rs 500 million. Further, they must adopt a demutualised structure, under which the ownership and management of the exchange do not have trading rights. The Coal Controller Organisation, designated as the regulator in December 2025, will oversee registration and regulation of coal exchanges. Additionally, registrations will be valid for a period of 25 years.