Huge deposit of 50,000 kg gold found in Andhra Pradesh, for the first time private companies will get the command of mining

A historic and game-changing big news has emerged for India’s economy and bullion market, which can take the country towards self-sufficiency in gold. There are strong indications of huge reserves of gold amounting to about 50,000 kg (50 tonnes) in Andhra Pradesh. A very senior official of the state government has officially confirmed this mega discovery. If this estimate turns out to be completely accurate, it will help India reduce its dependence on huge gold imports from foreign countries and Andhra Pradesh will emerge as the country’s largest gold supplier hub. Inexhaustible gold mine is hidden in 5 major areas including Jonnagiri of Kurnool. Principal Secretary of Mining Department, Mukesh Kumar Meena organized a special press conference and shared detailed information about this. He said that a preliminary estimate of gold reserves of about 50 tonnes has been made in Jonnagiri village of Kurnool district alone. Apart from this, the team of geologists and mining department has also identified four other important areas of the state – Ramagiri, Javakula, Chigurukunta and Bisnatam as potential gold mining zones. According to the Principal Secretary, if the upcoming discovery is completely successful, then within the next few years Andhra Pradesh will become the number-one state producing the most gold within the country. 1,500 acre mega-project: Mining started on commercial scale in Jonnagiri Mukesh Kumar Meena said that gold production has already been started on experimental and commercial scale in Jonnagiri. It is noteworthy that about a decade ago, about 1,500 acres of land in this area was allotted specifically for gold mining. Due to administrative and technical reasons, intensive exploration and geological survey work has so far been completed only in an area of ​​500 acres. So far, reserves of about 13 tonnes of pure gold have been assessed in this limited area of ​​500 acres. Detailed exploration work is yet to begin on the remaining vast land of 1,000 acres. Officials strongly believe that as soon as investigation and excavation of the entire allotted area is completed, the total gold figure at Jonnagiri will easily cross the 50 tonnes (50,000 kg) mark. For the first time, private companies get the opportunity through tender, the technology of mining is very complex. The biggest feature of this entire project is that the government is inviting participation of the private sector on a large scale for the first time. The senior official clarified that gold mining is a highly capital-intensive and technically extremely complex industry. This requires modern global machines, that is why the government has decided to involve leading private companies in this work through a transparent global tender process. Along with this, he also mentioned a technical challenge. He said that with time the recovery rate of gold in raw ore obtained from mines has declined significantly. Earlier, by processing one ton of mineral material, about 3 grams of gold could be easily extracted, but now this quantity has reduced to about 1 gram per ton. According to experts, if this recovery rate goes below 0.8 grams per tonne, mining projects become economically unprofitable, but Jonnagiri mines are completely profitable right now. Chief Minister N. Chandrababu Naidu will grandly inaugurate the gold project this month. Andhra Pradesh Chief Minister N. Chandrababu Naidu is very serious about this historic project and is considering it as a turning point for the development of the state. According to government sources, the Chief Minister can formally and grandly inaugurate the Jonnagiri Gold Mining Project at the end of this month. The launch of this project will not only save India’s foreign exchange reserves, but will also open new doors of employment and business for thousands of youth at the local level.