The Ministry of Mines on December 14, 2021 has issued the Mineral (Auction) Fourth Amendment Rules, 2021 to further amend the Mineral (Auction) Rules, 2015. The following amendments have been made: In rule 9, which specifies Bidding Process, in sub-rule (5), clause B, the following proviso has been inserted, namely: Provided also that in case the area proposed by a person under sub-rule (1A) of rule 7 of the Minerals (Evidence of Mineral Contents) Rules, 2015 is put up for auction to grant a composite licence, such person shall be required to submit the bid security of only fifty per cent. of the amount specified in this clause for participating in the auction for the said area.
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