Gold is certainly an auspicious metal and has gained a lot of significance for the people of India since time immoral. This yellow piece of metal is often regarded as the woman’s jewellery. It is therefore a ritual during marriages to offer the bride with some gold to preserve her honour in the family. Moreover, from the economic point of view, it is considered as universal currency. The Indian Rupee is also backed by gold which is one of the key factors in determining the exchange rate.
Of lately, the demand for the gold in terms of jewellery, gold coins or bars have increased to a great extent. Adversely, the gold mines production has been continuously detoriating in terms quantity.
Gold in India
The aggregate in situ production of raw gold are assessed at 22.4 million tons. India’s commitment to world gold creation is quite meagre capped at 0.75 for every penny. However, the gold creation of South Africa is 60 times, of Canada 22 times and of Australia is 5 time than that of India. This proves India contributes a lot less to the world gold production.
There was a steady decrease underway for a long time since independence to 1990-91 after which the changing patterns have been closely observed. On the other hand, some recuperation has been made after 1999-2000. This helped the Indian Government to achieve slightly higher gold production from the mines.
There are three gold fields in India, Kolar Gold mine, Kolar region, Hutti Gold mine in Raichur region (both in Karnataka) and Ramgiri Gold Field in Anantpur region (Andhra Pradesh).
Kolar Gold mine
Kolar Gold field is located in the south of the Karnataka state. The Bharat Earth Movers Limited (BEML) a Public Sector company was established by the then Indian Government to look into the affairs of the this gold mine. It was called “Little England” by the Britishers due to its cool temperate weather and landscapes similar to England. It was earlier regarded as the gold town of India but had to close down due to low level of production.
Hutti Gold Mines
These Hutti Gold Mines are also located in the Raichur district of Karnataka. It is one of the ancient gold mines to be known to the Indian subcontinent. The Hutti Gold Mines Co. Ltd. Under the Government of Hyderabad was created to manage the process drilling, transportation, purifying etc. The fundamental issue with the Hutti mines is the second rate of metal. It is the only few gold mines in India to produce gold.
Anantpur Gold Mine
Anantpur district is located in Andhra Pradeshwhich includes Ramgiri gold mines. One special thing about this gold mine is that 50% of the gold is used for making gold jewellery.
Little amounts of gold are gathered from streams in Shimla and Bilaspur in Himachal Pradesh, Kargil zone along the porches of the Indus River and in alluvial and morainic stores of Dras River in Jammu and Kashmir, Balaghat, and Seoni locale in Madhya Pradesh, Bastar, Raipur and Raigarh in Chhattisgarh and parts of Purulia region of West Bengal.
Read more information on Indian Gold Production and Distribution
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