New Delhi: The coal ministry Tuesday released coal exchange rules, detailing the procedure of establishing and operating the long-discussed platform with an aim to have fair and efficient price discovery and timely supply of the fuel.The rules pave way for the nation's first coal exchange, aimed at modernising the dry fuel's supply chain.As per the norms, coal quality will be verified by authorised sampling agencies. Final prices will be adjusted based on the quality of coal supplied, and any differences between contracted and delivered quantities will be resolved under contract provisions.The bidding and price discovery mechanisms will be conducted through procedures approved by the Coal Controller Organisation (CCO), based on the proposal of the exchange. The ministry had in December designated CCO as the authority for registering and regulating coal exchanges. Eligible entities authorised by the CCO will be allowed to establish and operate exchanges, frame market rules and bye-laws, and facilitate trading, with registrations granted for 25 years.The recently enacted Mines and Minerals (Development and Regulation) Amendment Act, 2025 introduced the concept of a mineral exchange and empowered the Centre to promote transparent and efficient trading of minerals, including coal and its processed forms.In a release Tuesday, The government said the introduction of coal exchanges marks a shift in the fuel's marketing by moving from the traditional 'one-to-many' sales model to a competitive 'many-to-many' trading platform."This will enable transparent and market-driven price discovery, improve efficiency, and provide coal producers, including commercial and captive miners, with easier access to a wider pool of buyers," it said.