Ministry of Mines: Gold Reservesin the Country

Ministry of Mines: Gold Reservesin the Country
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As per National Mineral Inventory data the total reserves/resources of gold ore (primary) in the country have been estimated at 501.83 million tonnes as of 1.4.2015 Out of these, 17.22 million tonnes were placed under the reserves category and the remaining 484.61 million tonnes under remaining resources category.

In India, the largest resources of gold ore (primary) are located in Bihar (44%) followed by Rajasthan (25%), Karnataka (21%), West Bengal (3%), Andhra Pradesh (3% ), Jharkhand (2 %). The remaining 2% resources of ore are located in Chhattisgarh, Madhya Pradesh, Kerala, Maharashtra and Tamil Nadu. The cost of extraction of any mineral including gold varies from mine to mine.

Geological Survey of India (GSI) is actively engaged in geological mapping followed by mineral exploration (survey) for various mineral commodities including gold with the aim to identify potential mineral-rich zones and establish resources.

Every year, as per the approved annual Field Season Program GSI takes up mineral exploration projects in various parts of the country for augmenting mineral resources.

Recently, the Government of India has amended the MEMC Rules to allow auction of composite licence at G4 level for deep-seated minerals including Gold.

This is expected to bring more participation from private players with advanced technology in the field of exploration & mining of deep-seated minerals which is expected to reduce the cost of extraction of gold.

There is no proposal to restart the closed gold mines.  

This information was given by The Minister of Mines, Coal and Parliamentary Affairs Shri Pralhad Joshi in a written reply in Rajya Sabha today