Section 11: Upfront payment for mining lease

Mineral (Auction) Rules., 2015Central Rules · 1957

(1) An amount equal to 0.50% of the value of estimated resources shall be the upfront payment.

(2) The upfront payment shall be payable to the State Government in three instalments of ten per cent.; ten per cent.; and eighty per cent. as specified in the tender document and shall be adjusted in full against the amount paid under sub-rule (3) of rule 8 within the first five years of commencement of production of mineral as specified in the tender document.

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Where this provision sits

Act	Mineral (Auction) Rules., 2015
Section	11
Marginal note	Upfront payment for mining lease
Jurisdiction	Central
Status	In force as published by the source

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