MCX gets SEBI nod for Mineral Spot Exchange investment

Multi Commodity Exchange of India Ltd (MCX) has received approval from SEBI under Regulation 38(2) of SECC Regulations for its investment in a proposed Mineral Spot Exchange Company. This new entity, tentatively named MCX Mineral Exchange of India Limited, aims to develop a regulated, technology-driven platform for trading mined natural resources, facilitating transparent, standardized digital transactions for physical delivery at market-driven prices. MCX will initially hold a 100% stake, with potential for future partnerships. The exchange plans to invest up to ₹100 Crore to meet net worth requirements and will leverage its expertise in governance, surveillance, and clearing mechanisms. A license application will subsequently be submitted to the Indian Bureau of Mines.