(1) The State Government shall pay by electronic transfer to the exploration licencee the percentage share quoted by him in the auction of exploration licence out of the auction premium deposited in a month by the future lessee who has obtained mining lease in auction pursuant to the prospecting operations undertaken by the exploration licencee, within thirty days of deposit of auction premium.
(2) The share of the exploration licencee shall be payable for entire period of fifty years of the mining lease or till exhaustion of resources, whichever is earlier.
[भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 21
(3) In case of termination, lapse or surrender of mining lease, share of the exploration licencee shall be payable out of the auction premium deposited by the subsequent lessee of the area for the remaining period out of fifty years from the date of commencement of the first lease for the area or till exhaustion of resources, whichever is earlier.
(4) The percentage share quoted by the exploration licencee shall be applicable for each mineral specified in the Seventh Schedule to the Act whose existence of mineral content has been established by him in accordance with the exploration norms required for grant of mining lease under Mineral (Evidence of Mineral Contents) Rules, 2015.
(5) The share of the exploration licencee shall be payable out of auction premium of all the mining leases of the minerals specified in the Seventh Schedule to the Act, auctioned pursuant to the prospecting operations undertaken by the exploration licencee.
(6) Exploration licencee shall not be entitled to receive share in respect of mineral not specified in the Seventh Schedule of the Act or whose existence of mineral content has not been established by him in accordance with the exploration norms required for grant of mining lease under Mineral (Evidence of Mineral Contents) Rules, 2015.
(7) Notwithstanding anything contained in this rule, the exploration licencee and lessee may enter into agreement regarding payment of the share to exploration licencee, such as lump-sum payment in lieu of percentage share in auction premium; and upon such agreement,—
(a) the exploration licencee and lessee shall submit a copy of such agreement to State Government; and
(b) subsequent to coming into effect of the agreement, the auction premium payable by lessee to the State Government shall reduce by the percentage share of exploration licencee and the State Government shall not be liable pay any amount to exploration licencee.
(8) After completion of prospecting operations and submission of geological report to the State Government in accordance with the rules, the exploration licencee may transfer his right to receive percentage share to any other entity, with the previous approval of the State Government and the State Government shall accept or reject previous approval within ninety days of receipt of such application.
(9) In case an exploration licencee becomes lessee of a mining lease auctioned pursuant to the prospecting operations undertaken by him, then such lessee shall deposit auction premium to the State Government after deducting the percentage share that would have been payable to the exploration licencee.
(10) The State Government shall pay by electronic transfer to the exploration licencee a share in each installment of the upfront payment payable by the lessee under rule 11 in the following manner, namely:—
(i) the share in each installment shall be equal to the percentage quoted by exploration licencee in the auction of exploration licence multiplied by the amount of installment of the upfront payment;
(ii) the share in each installment shall be paid to exploration licencee by the State Government within thirty days of deposit of the installment by the lessee; and
(iii) the payments to exploration licencee under this sub-rule shall be adjusted in full at the earliest against the share in auction premium payable to the exploration licencee under this rule.