Section 30(1) in Maharashtra Minor Mineral Extraction (Development and Regulation)Rules, 2013
(1)Financial assurance has to be furnished by every leaseholder. The amount of financial assurance shall be rupees fifty thousand per hectare of the mining lease area put to use for mining and allied activities. However, the minimum amount of financial assurance to be furnished in any of the forms referred to in sub-rule (2) shall be rupees one lakh:Provided that, a leaseholder shall be required to enhance the amount of financial assurance with the increase in the area of mining and allied activities:Provided further that, where a leaseholder undertakes reclamation and rehabilitation measures as part of the progressive closure of mine, the amount so spent shall be reckoned as sum of the financial assurance already spent by the leaseholder and the total amount of financial assurance, to be furnished by the lessee, shall be reduced to that extent.
