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[Cites 0, Cited by 0] [Section 2(1)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(1)(j) in Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016

(j)"value of estimated resources" means an amount equal to the product of,-
(i)the estimated quantity of mineral resources for which the prospecting licence, prospecting licence-cum-mining lease or mining lease, as the case may be, is granted, expressed in metric tonne; and
(ii)the average price per metric tonne of such mineral as published by Indian Bureau of Mines for the relevant State for a period of twelve months immediately preceding the month of computation of the value of estimated resources.