Section 7 in The Minerals (Evidence of Mineral Contents) Rules, 2015
7. Existence of mineral contents for grant of composite licence.
(1)An area may be notified for auction to grant a composite licence under sub-section (2) of section 10B or sub-section (3) of section 11 of the Act, if, in respect of such area, -(a)Preliminary Exploration (G3) has been completed to establish Inferred Mineral Resource (333); and(b)a geological study report has been prepared conforming to Part-IVA and Part IV-B of the Schedule.(2)An area shall be considered to be having existence of mineral contents under sub-section (10) of section 11 of the Act, if, in respect of such area, -(a)at least General Exploration (G2) has been completed to establish Indicated Mineral Resource (332); and(b)at least a Pre-Feasibility Study (F2) report has been prepared to establish Probable Mineral Reserve (121 and 122) conforming to Part V of the Schedule, to plan mining operation for a period of five years from the date of commencement of mining lease and such report has been submitted to the State Government.
