LUCKNOW, Feb 21, 2020: The Geological Survey of India (GSI) and Uttar Pradesh Directorate of Geology and Mining has found gold deposits found in Sonbhadra district of the state. According to reports, the gold deposits have been found at two places - Sonpahadi and Hardi field.
The GSI has estimated gold deposits of 2700 tonnes in Sonpahadi while 650 tonnes in Hardi. Sharing more information, KK Rai, District Mining Officer, said the state’s mining department has formed a seven-member team that visited Sonbhadra on Thursday.
The team will map the goldmine area and will conduct geo-tagging. Officials say that the mineral-rich mines of Sonbhadra are easy to dig due to their geographical position.
The mines are mostly situated on hillock, which makes them easy to mine. The government will start the auction process as soon as compensation payout and necessary clearance are granted, the officials say.
Apart from gold, officials are also exploring the possibility of rare minerals like uranium in the area. Bundelkhand and Vindhyan districts of UP are rich in minerals like gold, diamond, platinum, limestone, granite, phosphate, quartz, and China clay.
The exploration of the vast goldmines and other minerals will give a big boost to the state’s revenue. Apart from providing both skilled and unskilled jobs, this will also lead to the much-needed development of the backward regions of these two districts of UP.
As per the World Gold Council’s (WGC), an independent agency that tracks gold trade globally at the wholesale level, India has 626 tonne of the yellow metal as holdings, which is 6.6 per cent of the share held in gold in total foreign reserves.
The United States (US) has the largest holding with 8,133.5 tonne, followed by Germany with 3,366 tonne and the International Monetary Fund (IMF) with 2,814 tonne.