Kolar gold mines

Kolar gold mines

Subject : Geography

Context:

• Centre to soon auction Kolar gold mines, likely to fetch ₹30,000 crore

Kolar gold mining 

• The Centre has decided to revive gold mining, auction tailing dumps and two blocks at the Kolar fields in Karnataka more than 22 years after it was shelved because the extraction of metals and minerals had become unviable.

Kolar Gold Fields 

• KGFs are located in Karnataka.

• During 1990’s the returns were 03g/tonne due to the depletion of the high grade ore reserve and increase in production costs.
• After the gold has finished the area has lost its glitter too as there is neither proper electricity supply nor drinking water.
• Lack of work or employment opportunities for people
• Mine wastes in the form of rock fragments and mill tailings have been stacked in huge piles and heaps in KGF, occupying about 15-20% of the lease area.

Gold Reserves in India

• Gold production in India is insufficient and is imported from Australia, Canada, and Myanmar.
• Kolar Gold Field, Hutti Gold Field and Ramgiri Gold Field are the most important gold fields.
• The largest reserves of gold ores are located in Bihar, Rajasthan , Karnataka, West Bengal, Andhra Pradesh , Jharkhand.