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The euphoria over the claim that around 3,000 tonnes of gold reserves, worth Rs 12 trillion, have been discovered in Uttar Pradesh’s Sonbhadra district could not last even 24 hours, with the Geological Survey of India (GSI) clarifying on Saturday there had been no such discovery.

The GSI, headquartered in Kolkata, rebutted the claims of the Uttar Pradesh Directorate of Geology and Mining (UPDGM), and said “miscommunication” must have led to the wrong reporting of facts.

M Sridhar, director general of the GSI, said nobody in the agency gave any such data. He said 52,806 tonnes of gold ore was found in Sonbhadra district during the exploration work in 1998-2000. From this reserve, only 160 kg of gold can be extracted.

“There must have been some miscommunication of facts because of which the gold ore deposits have been overestimated. We have written a letter to Uttar Pradesh (UPDGM), stating the facts. The GSI has not estimated such kind of vast resource of gold deposits in Sonbhadra,” Sridhar said.

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The UPDGM had said on Friday that gold deposits were found in Son Pahadi and Hardi areas of the district. Sridhar said while gold ore was found in the area during the GSI’s exploration work in 1998-2000, it had told the state government about the discovery in November last year.

Under the new regulation, which came into effect from 2015, the GSI has to inform the state government when ore deposits are discovered. Earlier, no such action was mandatory. In its report, the GSI estimated that only 3.03 gm of gold can be extracted from a tonne of ore. It also clarified that even the extraction amount was tentative and could not be established for certain.

Moreover, Sridhar said the deposits were spread across only 0.5 sq km in forest land, which made the mining of ore economically unviable. “When there are several mines nearby, we can club it into a block and then it makes sense to mine the ore. But in this case, the deposits are too small to make it viable for any company to mine it,” he said. The GSI usually prioritises its exploration work based on the needs of the Centre. While strategic minerals like tin, cobalt, lithium, beryllium, germanium, gallium, indium, tantalum, niobium, selenium, and bismuth are atop the list in GSI exploration, gold is another commodity on its priority list.

According to the World Gold Council, India has reserves of 630 tonnes of gold.

Bengaluru, Jun 16: Karnataka Pradesh Congress Committee (KPCC) chief DK Shivakumar's daughter Aishwarya and Cafe Coffe Day founder late VG Siddhartha's son, Amarthya Hegde got engaged at SM Krishna Residence, Sadashivanagar in Bengaluru on Monday.
Only family members were present in the event. Amarthya Hegde is also the grandson of former Union Minister SM Krishna.
Last year in July, the body of Cafe Coffee Day (CCD) founder Siddhartha was unearthed on the banks of Netravati river.

Bengaluru, Jan 7: Karnataka Chief Minister BS Yediyurappa on Monday said the much-awaited cabinet expansion will take place in about a week to 10 days and that he wants to complete the exercise before his proposed visit to Davos to attend the World Economic Forum meet later this month.

"Cabinet expansion has to be done in a week or 8-10 days. There is also information that Amit Shah will be coming to Bengaluru on January 16 or 18. Before that I will go to Delhi and get things cleared and will expand the cabinet at the earliest," Mr Yediyurappa said.

Speaking to reporters in Bengaluru, he said he wanted to complete the exercise before his Davos visit.

"I will make all efforts to expand the cabinet before that," he said.

With Mr Yediyurappa making it clear that 11 of the disqualified JDS-Congress MLAs who got re-elected in the December 5 bypolls on BJP tickets will be made ministers, lobbying has been on within the party for the remaining ministerial berths.

Currently, there are 18 ministers, including the Chief Minister, in the cabinet that has a sanctioned strength of 34.

Cabinet expansion will not be an easy task for the Chief Minister as he will have to strike a balance by accommodating the victorious disqualified legislators as promised and also make space for the old guards, upset at being "neglected" in the first round of the induction exercise.

He also has to give adequate representation to various castes and regions in his cabinet and also deal with the allocation of key portfolios.

The Chief Minister, who has indicated that the ministry expansion may take place any time after Sankranti, is likely to travel to Davos on January 20, according to sources.

BS Yediyurappa, along with Union ministers Piyush Goyal and Mansukh Mandaviya, as well as Chief Ministers Amarinder Singh, Kamal Nath, are expected to join over 100 Indian CEOs at Davos in Switzerland later this month for the WEF's 50th annual meeting, which will be attended by thousands from across the globe.