India : Bureau of Mines reports rich gold & diamond reserves
November 20, 2007
As per National Mineral Inventory prepared by India Bureau of Mines, as on 1.4.2005, the total resources of gold ore (primary) and diamond are estimated at 390.29 million tones and 4.58 million carats respectively. This information was given by Shri Ramdas Agarwal, Minister of Mines in the Parliament.
The import of gold in the last few years has been in the range of 700-800 tonnes per annum.
Apart from the regional exploration for gold and diamond undertaken by Geological Survey of India, since the year 2000, the Central Government has been giving prior approvals for grant of reconnaissance permits for regional exploration of gold and diamond to various applicants, including private companies.
These may be converted into mining leases based on the outcome of the exploration, including detailed prospecting.
As per available information, since 1.1.2004 till date, prior approval for grant of mining lease for Gold has been conveyed to respective State Governments in favour of M/s. Jindal Saw Limited in Rajasthan, M/s. Ramgad Minerals and Mining Private Limited in Karnataka, M/s. Geo Mysore Services India Private Limited in Andhra Pradesh and M/s. Adi Gold Mining Private Limited in Uttarakhand respectively.
The Central Government has not conveyed any prior approval for grant of mining lease for diamond during the last three years