Wednesday October 10, 03:55 AM
Global tenders for revival of gold mines in K'taka
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By Economy Bureau
The Union government is likely to invite global tenders to revive the operations of Bharat Gold Mines in Kolar Gold Fields in Karnataka, according to KH Muniyappa, Union minister of state for road transport and highways. He said a consultancy firm has been appointed to fix the value of assets of the gold mining company. Once the firm submits its report, he said the government is expected to invite tenders in the next three months. He said South Africa and Australia are even extracting minimal amount of gold of 0.5 grams per tonne using modern technologies. "We have four to five grams of gold per tonne in this area. By using modern technologies we can run the gold mines (in Kolar Gold Fields) for another 100 years." The minister said gold deposits are still present in around 80 km surroundings of Kolar Gold Fields.
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