(1)In these rules, unless the context otherwise requires, -(a)"Act" means the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957);(b)"Composite Licence" means prospecting licence-cum-mining lease granted under rule 18;(c)"Mine Development and Production Agreement" means the agreement referred to in sub-rule (4) of rule 10 or sub-rule (8) of rule 18;(d)"preferred bidder" means the bidder referred to in sub-clause (iii) of clause (b) of sub-rule (4) of rule 9;(e)"qualified bidders" means the bidder referred to in sub-clause (iv) of clause (a) of sub-rule (4) of rule 9;(f)"reserve price" means the minimum percentage of value of mineral despatched as referred to in sub-rule (1) of rule 8;(g)"section" means section of the Act;(h)"Schedule" means a Schedule appended to these rules;(i)"successful bidder" means the bidder as referred to in sub-rule (3) of rule 10 or sub-rule (2) of rule 18;(j)"technically qualified bidders" means the bidder as referred to in sub-clause (ii) of clause (a) of sub-rule (4) of rule 9;(k)"tender document" means the tender document issued by a State Government for conduct of an auction referred to in sub-rule (2) of rule 9;(l)"upfront payment" means the payment referred to in sub-rule (1) of rule 11;(m)"value of estimated resources" means an amount equal to the product of, -(i)the estimated quantity of mineral resources for which the mineral block is being auctioned, 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: [Substituted by Notification No. G.S.R. 1469(E), dated 30.11.2017 (w.e.f. 20.5.2015).]Provided that if for any mineral or mineral grade, the average sale price in respect of the relevant State for any month is not published by Indian Bureau of Mines, the all India average sale price published by Indian Bureau of Mines for such mineral or mineral grade for that month shall be used].(n)"value of mineral despatched" shall have the meaning specified in sub-rule (2) of rule 8.
