Ministry of Mines notifies significant amendments to the Mineral Concession Rules providing methodology for publishing ASP of Haematite Iron Ore below the threshold value including for BHQ and BHJ

• Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession (Third Amendment) Rules, 2026 notified on 10 April 2026 by the Ministry of Mines to fix a methodology for publishing Average Sale Price (ASP) of Haematite Iron Ore lying below the 45 % Fe threshold, including Banded Haematite Quartzite (BHQ) and Banded Haematite Jasper (BHJ).
• Plugs a long-standing valuation gap: earlier, sub-threshold ore was valued at the ASP of the lowest grade above threshold (45 %–<51 % Fe), inflating royalty/DMF/NMET liability and disincentivising mining of low-grade ore.
• Aligns mineral concession regime with India's push to beneficiate vast low-grade iron-ore stockpiles for steel-sector self-reliance.