Mining equipment is seen inside the vast open pit of the Batu Hijau copper and gold mine, run by Newmont Mining Corp, on Indonesia's Sumbawa island on September 21, 2012. India has discovered gold fields with reserves of over 3,000 tonnes. — Reuters pic
India mines between 2 to 3 tonnes of gold annually, relying on expensive imports to fulfil nearly all of its demand, which averaged 843 tonnes per year over the past 10 years. Federal and state departments have discovered traces of gold in northern Uttar Pradesh’s Sonbhadra district after surveying the area for more than 10 years, said Roshan Jacob, the head of the mining department in Uttar Pradesh state.
The state is now seeking forest and environment clearances after which it will open up the reserves for bidding, Jacob said.
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