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Union of India - Section

Section 45 in Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016

45. Formula for calculating average sale price for metallurgical grade Bauxite to be used in alumina and aluminium extraction, Limestone, Tungsten.

- [(1) The State Government shall arrive at the average sale price of metallurgical Bauxite in the following manner:Average Sale Price = 52.90% x Percentage of Al 2O3 in bauxite on dry basis x Average aluminium price in Indian rupees for the month as published by IBM x Conversion factor as notified by the Central Government.] [Substituted by Notification No. G.S.R. 674(E), dated 20.9.2019.]
(2)The following procedure shall be used by IBM for publishing the average sale price of Limestone:
(a)Weighted average of non-captive prices computed for all India for the month; or
(b)115% of the weighted average captive prices for the State for the month, whichever is higher.
(3)The following procedure be used by IBM for publishing the average sale price of Tungsten concentrate:
Average SalePrice = Lowest price of WO3per metric tonne for the month+Highest price of WO3per metric tonne for themonth   x Average of RBI ratesfor the month Reference
           
2
The monthly prices available in Mineral Industry Surveys of USGS shall be taken by the IBM for compiling the average sale price of tungsten concentrate.