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Industry Specific-Mines Bihar Ministry of Mines Mines and Minerals (Development and Regulation) Act, 1957

Government of Bihar notifies Bihar Minerals (Concession, Prevention of Illegal Mining, Transportation and Storage) Amendment Rules, 2024

03-Dec-2024 | No.-Pra-II/Avaidh Khanan-30/22-5142/M

Government of Bihar via notification published in the official gazette dated 3rd December 2024 notifies Bihar Minerals (Concession, Prevention of Illegal Mining, Transportation and Storage) Amendment Rules, 2024. The said amendment will come into the force from the date of its publication in the Official Gazette, i.e. 3rd December 2024. By virtue of the notification the said amendments are made: 1. Under Rule 22 (2) (c): An amount equal to 25 (twenty five) percent of the auction amount as security which will be refunded after the expiry of the settlement period, if the mining lease holder is not otherwise defaulter in payment. In case of unsuccessful bidders, the Earnest Money Deposit will be refunded by the Collector within maximum Ten days. 2. Under Rule 29A (1) (b): The highest bidder shall deposit 25% of the auction amount (earnest money is adjustable for this purpose) within 05 working days of the auction and thereafter an in-principal sanction order (LOI) shall be issued in his favour by the Collector/Any Officer so authorized by the State Government. 3. Under Rule 29B (1): Payment of Security Deposit, Every settlee of sand as minor mineral shall deposit an amount equivalent to 25 (twenty five) percent of the auctioned/ tendered amount as security for due observation of the terms and conditions of settlement which shall be refunded after the expiry of the period of settlement Competent Officer (as defined in the Rules) after the expiry of the settlement period, if the settlee is not otherwise defaulter in payment. Many more such amendments have been made under the said rules. For more information, please refer to the document attached hereby.

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