Section 19(2) in The Mineral (Auction) Rules, 2015
(2)The amount of performance security shall be revised, prior to the issuance of the mining lease, to an amount of 0.50% of the value of estimated resources [established by the holder of the Composite Licence after completion of prospecting operations in accordance with sub-section (9) of section 11 of the Act resulting in determination of evidence of mineral contents conforming to the Mineral (Evidence of Mineral Contents) Rules, 2015] [Inserted by Notification No. G.S.R. 1469(E), dated 30.11.2017 (w.e.f. 20.5.2015).].
