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Section 45: Formula for calculating average sale price for metallurgical grade Bauxite to be used in alumina and aluminium extraction, Limestone, Tungsten

Mines and Minerals (Development and Regulation) Rules, 1957State Rules of Chhattisgarh · 1957

(1) The State Government shall arrive at the average sale price of metallurgical Bauxite in the following manner:

Average sale Price = 52.9/100 x Percentage of Al2O3 in bauxite on dry basis x Average aluminium price in Indian rupee for the month as published by IBM

(2) The following procedure shall be used by IBM for publishing the average sale price of Limestone:

(a) Weighted average of non-captive prices computed for all India for the month; or

(b) 115% of the weighted average captive prices for the State for the month, whichever is higher.

(3) The following procedure be used by IBM for publishing the average sale price of Tungsten concentrate:

Average Sale Price = Lowest price of WO3 per metric tonne for the month + Highest price of WO3 per metric tonne for the month 2 x Average of RBI Reference rates for the month The monthly prices available in Mineral Industry Surveys of USGS shall be taken by the IBM for compiling the average sale price of tungsten concentrate.

Where this provision sits

ActMines and Minerals (Development and Regulation) Rules, 1957
Section45
Marginal noteFormula for calculating average sale price for metallurgical grade Bauxite to be used in alumina and aluminium extraction, Limestone, Tungsten
JurisdictionState of Chhattisgarh
StatusIn force as published by the source

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