A First – Rajasthan To Auction Gold Mines

JAIPUR, (IANS) – The Rajasthan mining department is all set to create history as it will start a gold mine auction for the first time in the state in the Banswara district’s Bhukia-Jagpura area.

The department has made all preparations for the e-auction of these mines and necessary information will be made available on the portal within a month.

There are huge reserves of gold in the 14 square kilometer area of Bhukia-Jagpura of Ghatol tehsil in Banswara. After extensive exploration in this area, a preliminary estimate of 113.52 million tons of gold ore has been made, in which the amount of gold metal has been estimated at 222.39 tons. According to a rough estimate, during the mining of gold ore here, more than 1 lakh 74 thousand tons of copper, more than 9,700 tons of nickel, and more than 13,500 tons of cobalt mineral will be obtained.

The auction tender will be launched on the Government of India’s e-portal in about a month with the completion of the necessary formalities for the e-auction of two gold mines.

Officials said that, along with gold, abundant quantities of copper, nickel, and cobalt minerals will be obtained from these gold mines. The availability of copper as a raw material will increase in the electronics sector, while nickel will provide a boom to the battery industry, coin minting, electronic industry, etc.

“Cobalt can be used in airbags, the petrochemical industry, etc., and the dependence on foreign countries for the supply of their raw materials will be reduced. New investment in industries related to copper, nickel, and cobalt in the state will generate abundant opportunities for revenue and direct and indirect employment,” the officials added.