Last week a news is in the media headlines. The respective governments are expected to get Rs 2,035.44 crore in revenue from 6 gold mines auctioned by 4 states in the last 5 years. The states of Andhra Pradesh, Chhattisgarh, Jharkhand and Madhya Pradesh will get a share of their revenue for the lease period of the auction.
The Kannada film ‘KGF’, starring Yash and directed by Prashanth Neel in 2018, created a record in the film industry in earning. There is a discussion again these days about the place where KGF was shot i.e. Kolar Gold Field i.e. Gold Mine. This gold mine is closed since 2021. Know why this gold mine is in the news…
Government to earn Rs 2,035.44 crore from Golden Mine including KGF in 5 years
Last week a news is in the media headlines. The respective governments are expected to get Rs 2,035.44 crore in revenue from 6 gold mines auctioned by 4 states in the last 5 years. The states of Andhra Pradesh, Chhattisgarh, Jharkhand and Madhya Pradesh will get a share of their revenue for the lease period of the auction.
Media reports quoting high sources from the Union Ministry of Mines say that Andhra Pradesh has auctioned a mine, which is expected to generate revenue of ₹1,058.05 crore, while Chhattisgarh is likely to add ₹110.45 crore to its coffers for the mine. . Jharkhand will get ₹848.09 crore with 2 mines. The MP’s share from the lease of the two mines for auction under the provisions of the Mines and Minerals (Development and Regulation-MMDR) Act, 1957 is ₹18.84 crore. Of these, the contract for Jonnagiri Gold Mine in Andhra Pradesh is with Geomissor Services (India) Pvt Ltd, while M/s Manmohan Minerals Pvt Ltd has the mining contract for Kundarkocha and Lava blocks in Jharkhand.
Considering reopening KGF
Apart from these, mining is being done in Hirabuddin Gold Mine, Vondali Gold Mine, Mangalore Gold Mine, Hutti Gold Mine, UT Gold Mine, Nandudurg Gold Mine and UT Gold Mine in Karnataka.
Here, the Ministry of Mining has decided to resume gold mining in Kolar i.e. KGF after more than 2 decades. It was closed due to no use. Now an internal study by the Ministry of Mines has revealed that the gold and mineral deposits in the two blocks and the tailing dump in the Kolar mines together can fetch around Rs 30,000 crore. Tailing dump means the material left in the mine by separating the precious and useless ore.
Closed 21 years ago
The Union Cabinet had decided to wind up Bharat Gold Mining Limited (BGML). BGML a former Public Sector Undertaking was incorporated in April, 1972 under the administrative control of Mines Department with its office at Kolar Gold Fields (KGF), which is now famous internationally with the box office hit KGF Chapter 2. . Since the closure of the company, there has been a demand for its reopening. Several state and central ministers are also pushing for the reopening of the company. However, the Center has made it clear in 2021 that there is no proposal for this. Since the operations of KGF had not been financially profitable, the order for its closure was issued on 12 June 2000. Thus BGML had closed it with effect from 1 March 2001.
Bengali