GSI identifies gold resources of 9.8 mt

Geological Survey of India (GSI) undertook gold exploration surveys in several states across the country and has identified 9.8 million tonnes (mt) of resources, Parliament was informed on Thursday.

In the last 3 years, GSI carried out gold exploration work in Rajasthan, Bihar, Jharkhand, Odisha, Maharashtra, Uttar Pradesh, Madhya Pradesh, Karnataka, Kerala, Andhra Pradesh and Arunachal Pradesh, Union Minister Piyush Goyal said in a written reply in Lok Sabha. "As a result of the exploration work of GSI, 9.8 mt of gold resources were established in the state of Rajasthan (6.78 mt), Jharkhand (2 mt) and Karnataka (1.02 mt) during the field seasons 2012-13, 2-13-14 and 2014-15," he added.

In a separate query, Goyal said the Mineral Exploration Corporation Ltd (MECL) has plans to start bauxite mining in Chhattisgarh's Balrampur district. Mining operations will start after environmental clearances, lease deed execution and land acquisition. "The proposed capacity of mine is 0.3 mt per annum. The turnover will depend on the actual sale price of bauxite in the year when bauxite production starts," the Minister said.

However, as per the feasibility report of mining in the block prepared by MECL in December 2015, the turnover is expected to increase by Rs 28 crore, he added.