“value of estimated resources”

The Mines and Minerals (Development and Regulation) Act, 1957 · s. 2

"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/cft; and - ii) the average price per metric tonne of such mineral as published by Indian Bureau of Mine for Jharkhand State for a period of twelve months immediately preceding the month of computation of the Value of Estimated Resources or the price notified by the Director, Mines; on the basis of the norm followed by Indian Bureau of Mines. - "Value of mineral despatched" shall have the meaning specified in sub-rule (2) of rule 8. - o) "Director, Mines" means appointed as Director, Mines by the State Government. - p) "Director, Geology" means appointed as Director, Geology by the State Government. - q) "Deputy Commissioner" means appointed as Deputy Commissioner of respective District - (2) The…