Gold Reserves in India

News: The Minister of Mines and Coal has provided useful information regarding gold reserves in India.

Gold Reserves in India

  • As per National Mineral Inventory data, the total reserves/resources of gold ore (primary) in the country have been estimated at 501.83 million tonnes as of 2015.
  • Out of these, 17.22 million tonnes were placed under the reserves category and the remaining 484.61 million tonnes were under the remaining resources category.
  • In India, the largest resources of gold ore (primary) are located in Bihar (44%) followed by Rajasthan (25%), Karnataka (21%), West Bengal (3%), Andhra Pradesh (3%), Jharkhand (2 %). The remaining 2% resources of ore are located in Chhattisgarh, Madhya Pradesh, Kerala, Maharashtra, and Tamil Nadu.
  • Geological Survey of India (GSI) is actively engaged in geological mapping followed by mineral exploration (survey) for various mineral commodities including gold.
  • GSI aims to identify potential mineral-rich zones and establish resources.
  • Every year, as per the approved annual Field Season Program, GSI takes up mineral exploration projects in various parts of the country for augmenting mineral resources. Recently, GoI has amended the MEMC Rules to allow auction of composite license at G4 level for deep-seated minerals including Gold.