(1) The prospecting licence deed of the composite licence granted to a successful bidder under sub-rule (3) of rule 18 of the Mineral (Auction) Rules, 2015 shall be in the format specified in Schedule V.
(2) The mining lease deed to be executed by:
(a) a successful bidder under sub-rule (6) of rule 10 of the Mineral (Auction) Rules, 2015; or
(b) the holder of a composite licence under sub-rule (9) of rule 18 of the Mineral (Auction) Rules, 2015, shall be in the format specified in Schedule VII.
10. Renewal of a prospecting licence of the composite licence - (1) An application for renewal of a prospecting licence of the composite licence for the purpose of completing prospecting operations shall be made at least ninety days before the expiry of the prospecting licence stage of the composite licence and shall be accompanied by a statement containing-
(a) reasons for seeking renewal;
(b) a report of the details of prospecting operations undertaken by the applicant in the format as prescribed under the rules under Section 18;
(c) the details of expenditure incurred;
(d) the numbers of man days for which the work was undertaken; and
(e) the justification for the additional period required to complete the prospecting work.
(2) The State Government shall send an acknowledgement of receipt of the application of renewal application to the applicant in Schedule II within a period of three days of receipt of the renewal application.
(3) Such application shall be accompanied by a non-refundable fee of rupees one thousand per square kilometre on a pro rata basis of the area over which the renewal of the prospecting licence is applied for.
(4) The State Government may condone delay in submission of an application for renewal of a prospecting licence stage of the composite licence made after the time limit prescribed in sub-rule (1), provided that the application for the renewal has been made before the expiry of the prospecting licence stage of the composite licence.
(5) An application for the renewal of a prospecting licence shall be disposed of by the State Government before the expiry of the period of prospecting licence.
CHAPTER IV: TERMS AND CONDITIONS OF MINERAL CONCESSIONS