Section 8(3) in Jharkhand Minor Mineral (Auction) Rules, 2017
(3)The bidders shall quote, as per the bidding parameter, for the purpose of payment to the State Government, a percentage of value of mineral despatched equal to or above the reserve price and the successful bidder shall pay to the Director, Mines/Deputy Commissioner an amount equal to the product of,-(i)percentage so quoted; and(ii)value of mineral despatched.
