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.
ALSO READ: 2,900-tonne gold mine found in Sonbhadra, 4 times that of India's reserves
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.
Comments
raitha morcha... i can't see any raita in the above picture.. only bjp workers.
what siddaramaiah can do on cauvery or farmers suicide. cauvery issue ordered by supreme court and farmers taking extreme steps for their loan burden.
Blaming other party is an easy task. Solving a problem is a difficult task. What did BJP as a ruling party do to solve this problem during the tenure of Yeddy, DVS and Shettar? Bull shit.
CM for what. he not even responded to normal peoples issue on cauvery water. 4 days protest, curfew if he cannot stop this, why we need CM like him.
Bjp shut your mouth, kateel is a big criminal, Murderer
Bjp murdabad, Congress Jindabad.
Bjp seriously u guys are gone mad. suicides cannot be called as murders. farmers should take their own responsibility.. why only blaming govt.
BJP is out of mind.. farmers suicide is a trend now, they know their family will get lakh of rupees. and also many burden because of the loan they have taken from the bank, not only farmers here normal people also a loan defaulters of bank unable to pay the loan they will take extreme step but in karnataka for farmers suicide only matters.
Yes siddaramaiah is a big murderer.
Add new comment