The Indian government has implemented a formal pricing framework for low-grade haematite iron ore, including Banded Haematite Quartzite (BHQ) and Banded Haematite Jasper (BHJ), to enhance beneficiation and unlock previously underutilized resources. This framework, notified on April 10, establishes the Average Sale Price (ASP) for low-grade iron ore below 45% Fe. The ASP for ore with 35-45% Fe will be set at 75% of the ASP for higher-grade ore (45-51% Fe), while ore below 35% Fe will be priced at 50% of that benchmark. This move is expected to alleviate the financial burden of royalty and premiums on low-grade ore, encouraging its processing. The Ministry of Mines noted that advancements in beneficiation technology allow for the upgrading of these low-grade resources into usable feedstock for steelmaking. This initiative aligns with the government's broader goals of mineral conservation and maintaining self-sufficiency in iron ore, addressing concerns over the depletion of high-grade iron ore resources.