Not just KGF: 90 places in state have gold
Minerals federation says 280 tonnes of gold reserves are waiting to be tapped in Karnataka, including areas in Haveri, Dharwad and Chitradurga
Karnataka appears to be afloat on gold: TheFederation of Indian Mineral Industries (FIMI) says that there are 90 places other than Kolar Gold Fields (KGF) and Hutti in Raichur that have been identified as gold reserves. As per the FIMI’s latest survey of non-ferrous metals, about 15 places have been identified with gold reserves of about 280 tonnes.
V N Vasudev, a geo-explorer and chairman of FIMI’s standing committee for non-ferrous metals told Bangalore Mirror: “The net quantity of estimated gold reserves include about 280 tonnes including the existing gold mines at KGF and Hutti.”
Six gold mines on the anvil
Recent exploration by various private geo-exploration companies has revealed that places like Haveri, Raichur, Yadgir, Dharwad, Chitradurga, Gadag, Tumkur and Kolar have rich deposits of gold. “Across India, there are about 900 places with gold reserves. But in Karnataka, there are at least 90 such places. If the government gives permission in the next five years, about six gold mines and processing units can begin full-fledged operations. This would not only save on country’s foreign exchange, but also add to its growth,” Vasudev said.
Low on production, high on import
India has been importing gold from various countries including China in big numbers. About 1,000 tonnes of gold were imported during 2012-13. “Our production has gradually come down in recent times, with many mines forced to shut down operations. This has prompted neighbouring countries to increase their gold production. While China produced 350 tonnes of gold last year, India produced only 2.5 tonnes of gold,” HNoor Ahmed , President of FIMI, said.
KGF and Hutti still left with reserves
FIMI members said KGF still has gold reserves. “All around KGF, about 35 million tonnes of tailings have been dumped since ages. If you process it and extract gold, you will get about 21 tonnes of gold. Of these, 12 tonnes of gold are usable at the global level. Hutti has about 60 tonnes of gold,’’ Vasudev said.
Karnataka appears to be afloat on gold: The
V N Vasudev, a geo-explorer and chairman of FIMI’s standing committee for non-ferrous metals told Bangalore Mirror: “The net quantity of estimated gold reserves include about 280 tonnes including the existing gold mines at KGF and Hutti.”
Six gold mines on the anvil
Recent exploration by various private geo-exploration companies has revealed that places like Haveri, Raichur, Yadgir, Dharwad, Chitradurga, Gadag, Tumkur and Kolar have rich deposits of gold. “Across India, there are about 900 places with gold reserves. But in Karnataka, there are at least 90 such places. If the government gives permission in the next five years, about six gold mines and processing units can begin full-fledged operations. This would not only save on country’s foreign exchange, but also add to its growth,” Vasudev said.
Low on production, high on import
India has been importing gold from various countries including China in big numbers. About 1,000 tonnes of gold were imported during 2012-13. “Our production has gradually come down in recent times, with many mines forced to shut down operations. This has prompted neighbouring countries to increase their gold production. While China produced 350 tonnes of gold last year, India produced only 2.5 tonnes of gold,” H
KGF and Hutti still left with reserves
FIMI members said KGF still has gold reserves. “All around KGF, about 35 million tonnes of tailings have been dumped since ages. If you process it and extract gold, you will get about 21 tonnes of gold. Of these, 12 tonnes of gold are usable at the global level. Hutti has about 60 tonnes of gold,’’ Vasudev said.
