Section 19(4) in The Mineral (Auction) Rules, 2015
(4)[ The performance security shall be provided through bank guarantee in the format as specified in Schedule IV or through security deposit, which may be invoked as per the provisions of -(i)the prospecting licence deed;(ii)the Mine Development and Production Agreement;(iii)the Mining Lease Deed:Provided that the State Government on being satisfied that the holder of Composite Licence has completed prospecting operations in accordance with sub-section (9) of section 11 of the Act but is unable to establish the existence of mineral contents even after making all possible efforts in accordance with sub-section (10) of section 11 of the Act, and the Minerals (Evidence of Mineral Contents) Rules, 2015, shall return the bank guarantee or the security deposit provided by the holder of the Composite Licence as performance security.] [Substituted by Notification No. G.S.R. 1469(E), dated 30.11.2017 (w.e.f. 20.5.2015).](i)the Mine Development and Production Agreement; and(ii)the Mining Lease Deed.
