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All users must register with Indian Bureau of Mines (IBM)

It is reported that mining companies may find it tougher to sell ore in the coming days, as they will now also have to ensure that the trader or manufacturer purchasing their ore is registered with the Indian Bureau of Mines.

In a bid to curb illegal mining of iron ore, the country's mining regulator IBM has been directed by the ministry of mines to register all mine-holders, traders as well as end users.

Though the Nagpur headquartered IBM already has details of registered miners with it, it is finding it difficult to track traders and end-users as the agency does not deal with them, even as 9,000 mining leases, including 1,300 for iron ore, have been registered with IBM covering almost the entire sector. But when it comes to traders and manufacturers, not more than 1,000 have enlisted with IBM.

Hoping to ease its burden, IBM has now imposed this new rule, under which mine holders will be allowed to sell their ore only to a registered trader or end user.

The periodic returns filed with IBM will have to mention the registration numbers of the buyers. In case there is any sale to an unregistered entity, the mine holders could face action, including cancellation of the lease.

This is expected to compel miners to in turn pressure their buyers to get registered with IBM. The main objective behind the move is to check illegal mining of iron ore and other minerals.

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