Section 6(6) in Atomic Minerals Concession Rules, 2016
(6)Upon receipt of such communication from the State Government under Sub-rule (5), the prospective lessee shall -(a)prepare a mining plan in accordance with provisions of Chapter IV and submit the same for approval of the Directorate for approval under clause (b) of Sub-section (2) of section 5, within a period of twelve months from the date of issuance of the communication from the State Government under Sub-rule (5);(b)provide a performance security to the State Government in the form of a bank guarantee as per the format specified in Schedule C or as a security deposit, for an amount equivalent to 0.50 per cent. of the value of estimated resources, which performance security may be invoked by the State Government as per the terms and conditions of Mine Development and Production Agreement and the mining lease deed;(c)the performance security shall be adjusted every five years so that it continues to correspond to 0.50 per cent. of the reassessed value of estimated resources;(d)obtain approval or permit or no-objection or the like from the concerned Government authorities as may be required under applicable laws for commencement of mining operations;(e)sign an Mine Development and Production Agreement with the State Government as per the format specified by the Central Government after compliance of conditions specified in clauses (a), (b), (c) and (d) of this Sub-rule; and(f)meet other conditions as may be specified by the State Government with the prior approval of the Department.
