Section 19D: Bidding parameters for exploration licence

the Mineral (Auction) Amendment Rules, 2024.Central Rules · 1957

(1) The State Government shall specify in the tender document the maximum percentage share (known as “ceiling price”) of the auction premium that shall be payable by the future lessee of mining lease which shall be auctioned pursuant to the prospecting operations undertaken under the exploration licence being auctioned:

Provided that the ceiling price shall not be less than twenty-five per cent.

(2) The bidders shall quote, for the purpose of receiving payment from the State Government, a percentage share of the auction premium payable by such future lessee equal to or below the ceiling price and the bidder quoting the minimum percentage in accordance with the bidding process specified in rule 19E shall be the preferred bidder.

Where this provision sits

Act	the Mineral (Auction) Amendment Rules, 2024.
Section	19D
Marginal note	Bidding parameters for exploration licence
Jurisdiction	Central
Status	In force as published by the source

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