New Delhi, April 14 -- In a move to unlock vast reserves of low-grade iron ore and ensure long-term raw material security for the steel industry, the Ministry of Mines on Tuesday notified new rules to make low-grade iron ore economically viable by introducing a revised pricing framework for royalty calculation.

The new rules calculate the Average Sale Price (ASP) for Haematitic Iron Ore below the threshold value, making beneficiation economically viable.

The Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession (Third Amendment) Rules, 2026, notified on April 10, 2026, aim to bring Banded Haematite Quartzite (BHQ) and Banded Haematite Jasper (BHJ) into the usable category, addressing concerns over depleting high-grad...