Gold mining in India and world

  GOLD MINING IN INDIA and WORLD
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Recently Sonbhadra district of UP discovered more than 3000 tonnes of gold making this region second largest after USA field.

Gold is a valuable metal which occurs geologically in native and placer deposits forms. Used for ornaments, jewellery , industries, or used as international currency. Many uses in jewelry, coinage, and bullion. Gold is an electrical conductor used in computers, circuits, appliances, cell phones, etc. Dental work, gilding, and many other uses.

   Gold occurs in hydrothermal veins deposited by ascending solutions, as disseminated particles through some sulfide deposits, and in placer deposits.

  Trace amounts of gold are found almost everywhere, but large deposits are found in only a few locations. Although there are about twenty different gold minerals, all of them are quite rare. Therefore, most gold found in nature is in the form of the native metal.

       Major producers of gold in world are in 2019 are :--

     1) China -420 MT

     2) Australia- 330MT

     3) Russia -310 MT

     4) USA - 200MT

     5) Canada - 180 MT

     6) Indonesia -160MT

     7) Ghana -130 MT

     8) Peru - 130 MT

     9) Mexico -  110 MT

     10) Kazakhstan -100 MT

     11) Uzbekistan - 100MT

     12) South Africa -90 MT

     13) Brazil - 85 MT

     14) Argentina -72MT

     15) Papua New Guinea-60 MT

     16) Other countries -800 MT

Gold mining is a global business with operations on every continent, except Antarctica, and gold is extracted from mines of widely varying types and scale.

Mines and gold mining operations have become increasingly geographically diverse, far removed from the concentrated supply of four decades or so ago when the vast majority of the world’s gold came from South Africa.

China was the largest gold producer in the world in 2016, accounting for around 14% of total annual production. But no one region dominates. Asia as a whole produces 23% of all newly-mined gold. Central and South America produce around 17% of the total, with North America supplying around 16%. Around 19% of production comes from Africa and 14% from the CIS region. See our interactive gold mining map for gold production per country in 2019.

Overall levels of mine production have grown significantly over the last decade, although substantial new discoveries are increasingly rare and production levels are increasingly constrained.

Gold mining and mine production does not respond quickly to prices. The project development timeline and mine lifecycle is a very long one – it often takes decades to move from discovery to production.

Major consumer of gold in the world are :-

     1) China-- 984.5

     2) India----848.9

 3)UnitedStates----192.8

4) Germany---123.8

 5) Thailand---90.2

 6)SaudiArabia---84.5

7) Turkey--72.1

8) Iran--70.9

9) Vietnam--63.4

10) Indonesia--59

 11) United Arab Emirates-58.4

12) Switzerland--50.4

 13) Russia--45.9

Gold mining in India:—

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There are three gold fields in the country, namely Kolar Gold Field, Kolar district, Hutti Gold Field in Raichur district (both in Karnataka) and Ramgiri Gold Field in Anantpur district (Andhra Pradesh).

India’s  major portion is composed of Precambrian rocks which have hosted major gold discoveries worldwide. Dharwad-Shimoga Greenstone belt, hutti-maski greenstone belt, mangalore schist belt.

The new India, with strong economic growth outlook is looking to revive the mineral exploration and mining sectors through foreign and Indian private investment and the planned introduction of liberalised internationally compatible mining policies. 

A) Karnataka is the home of two oldest gold mines in India located in Raichur district:-

  1) Kolar mines -120 years old, produced more than 800 tonnes of gold till 2001. Government decided to close down it.

 2) Hutti mines- producing around 1.399 tonnes of gold per year.

 3) Ganajur mines - located Haveri district of Karnataka 

B) other states of India for gold mining in news are

     1) Hirabuddini mine in Jharkhand 

     2) Ramagiri mine in Anantpur district of Andhra Pradesh in 2015–2nd largest production from India after Hutti field of Karnataka.

    3) Baghmara gold mine in Chhattisgarh, is successfully bidded by Vedanta Resources in feb 2016.

    4) Janagiri Mines near Raipur, Chhattisgarh is bidded by Australia 

News : In February 2016, Vedanta Resources became the first private company to successfully bid for a gold mine in India – the Baghmara gold mine in Chhattisgarh – with potential gold reserves of 2.7 tonnes of gold 

India is the largest consumer of gold 

We able to produce only 0.5% of domestic needs rest , around 800 tonnes of gold we import every year.

In 1994 India produce gold around 2tonnes / year, China around 3 tonnes/year. Now , China accelerated its gold production to 450 tonnes/year ( rank 1). Government’s liberalised approach to mining, private miners are waiting to tap the huge gold reserve untapped.

In 2016, Supreme Court  ask for transparent auction policy for natural resources. Gold mining is lucrative for 3 factors:-  a) to reduce debt. b) inflation of oil and gold      c) gold is safe investment in terms of uncertain political conditions in world.

Recent news : After two decades of painstaking research, the Uttar Pradesh Directorate of Geology and the Mining and Geological Survey of India have discovered two goldmines -- one each at Son Pahadi and Hardi village -- in the state that could collectively possess 3,350 tons of gold ore. The gold deposits together could be five times that of India's current reserves.

In Son Pahadi the gold deposit is estimated at approximately 2,943.25 tonnes, while almost 646.15 tonnes could be found at the Hardi field. India's current gold reserves is around 626 tonnes. The gold at both deposits could amount to approximately Rs 12 lakh crore.
NOTE : NOT VERIFIED OFFICIALLY AT SONBHADRA ,U.P.