Section 5 in Gujarat Minor Mineral Concession Rules, 2017
5. Bidding parameters.
(1)The Government shall specify in the tender document, the minimum percentage of the value of mineral despatched, which shall be known as the "base premium".(2)The value of mineral despatched shall be an amount equal to the product of-(a)mineral despatched in a month; and(b)last available sale price of the mineral as published by the Government and as applicable at the time of dispatch:Explanation. - In case a grade-wise sale price of a mineral has been published by the Government, the price applicable for the relevant grade shall apply with respect to clause (b) above. The computation of value of mineral despatched shall be applicable to all minerals including overburden.(3)The bidders shall quote, as the bidding parameter for the purpose of payment to the Government, premium offer(s) which shall be a percentage of value of mineral despatched equal to or above the base premium and the successful bidder shall pay to the Government, an amount known as the "auction premium" equal to the product of the-(i)percentage so quoted; and(ii)value of mineral despatched.
