Section 7(10) in Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016
(10)Upon issuance of an order under clause (a) of sub-rule (6) or sub-rule (9) for grant of a mining lease, the applicant for such mining lease shall:(a)obtain all consent, approval, permit, no-objection as may be required under applicable laws for commencement of mining operations;(b)provide a performance security to the State Government in the form of a bank guarantee as per the format specified in Schedule IV or as a security deposit, for an amount equivalent to 0.50% 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. The performance security shall be adjusted every five years so that it continues to correspond to 0.50% of the reassessed value of estimated resources;(c)satisfy the conditions with respect to a mining plan specified in clause (b) of sub-section (2) of section 5; and(d)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 clause (a), (b) and (c) of this sub-rule.
