Cement, Energy and Environment

21 ['IWl ll ~ 3(i)] 19. payment. the State Government shall execute a Mining ~~se Deed. with. the holder of too Composite Licence within thirty days of the date of completion of all too cond•t•ons spec1fied m sub-rule (8). ( 1 0) The mining lease shall be subject to the provisiOns of the Act and the rules made thereunder. (11 ) The mining lease shall be for minerals found in the area pursuant to exploration prior to the auction: Provided that where subsequent to the auction. any new mineral is discovered. then the holder of. the ~ning lease shall follow the provisions of the Mineral Concession Rules. 1960 for inclusion of such new mmeral m the Mining Lease Deed. (12) Where prior to the auction or subsequent to the auction, presence of minor mineral is established or discovered, such minor minerals shall be dealt in accordance with such rules as may be made by the State Government under section 15. ( 13) The date on which a duly executed Mining Lease Deed is registered shaJI be the date of commencement of the mining lease. Performance Security for Compo He Licence.-( I) An amount of 0.25% of the value of estimated resources shall be payable by the preferred bidder a performance security prior to the issuance of the Composite Licence. (2) The amount of performance security shall be revised, prior to the issuance of too mining lease, to an amount of0.50% of the valoo of estimated resources. (3) The perforn1ance security provided under sub-rule (2) shall be adjusted every five years so that it continues to correspond to 0.50% of the reassessed vaJue of estimated resources. (4) The performance security may be invoked as per provisions of.- (i) the Mine Development and Production Agreement: and (ii) the Mining Lease Deed. CHA PTER IV :\IISCELLANEOL 20. Power to rectify apparc:>nt mistakes.-Any clerical or arithmetical mistake in any order passed by the Government or any authority or officer under these rules and any error arising therein due to accidental slip or omission. may be corrected by the Government, the concerned authority or officer, as the case may be: Provided that no rectification order prejudicial to any person shall be passed unless such person has been given a reasonable opportunity of being heard. 21. Special pro,·isions relating to mineral!> specified in Part ll of the:> First Schedule to the Act.-( I) Notwithstanding anything contained in the se rule~ (a) if the holder of a Composite Licence or mining lease discovers any mineral specified in Part 8 of the First Schedule to the Act and not specified in such licence or lease, in the area granted under such licence or lease. the discovery of such mineral shall be reported to the Director. Atomic MineraJs Directorate for Exploration and Research, Hyderabad within sixty days from the date of discovery of such mineral: (b) the licencee or lessee shall not win or dispose of any mineral specified in Part 8 of the First Schedule to the Act unless such mi neral is included in the licence or lease or a separate licence or lease for the purpose has been obtained: (c) the quantities of any mineral specified in Pan 8 of the First Schedu le to the Act recovered incidental to such prospecting or mining operations shall be collected and stacked separately and a report to that effect shaJI be sent to the Director, Atomic MineraJs Directorate for Exploration and Research. Hyderabad every month for such further action by the licencee or lessee as may be directed by the Atomic Minerals Directorate for ExploratioH and Research. (2} The licencee or lessee referred to in sub-rule (I) shall, within ixty days from the date of discovery of any mineral specified in Pan 8 of the First Schedule to the Act. apply to the Secretary, Department of Atomic Energy. Mumbai. through the State GovernrnenL for grant of a licence to handle such minerals under the provi ions of the Atomic Energy Act, 1962 (33 of 1962) and the rules made thereunder and the Department of Atomic Energy shall intimate to the State Government regarding issue of the licence in this regard. 22. Exploration Obligation.- The holder of a mining lease shall complete detailed exploration (G I level exploration) and prepare a detailed feasibility study report conformi ng to Part IV and V of the Mineral (Evidence of Mineral Contents) Rules, 2015 over the enlire area under the mining lease. within a period of five years from the date of commencement of such mi ning lease. 26 •