Gold mining in Andhra Pradesh..!? Leasing process..!?

Sowmiya Sriram
Gold mining in Andhra Pradesh..!? Leasing process..!?
It is reported that the indian iron ore mining company NMDC, owned by the central government, is gearing up to start gold mining in Andhra Pradesh. This is the first time that NMDC, which has extensive experience in iron ore mining, is operating a gold mine. Chigaragunta-Bisanatham gold block in Gudupalle mandal of chittoor district will be leased by NMDC soon. NMDC signed the letter of intent for this mining deal late last year.
It seems that NMDC is engaged in completing the lease process. Chigargunta-Bisanatham gold block has 1.83 million tonnes of gold reserves. NMDC is likely to invest Rs 500 crore ($61 million) in the Chigargunta-Bisanatham gold block, according to reliable sources. Earlier survey companies said that the block has gold ore reserves of about 1.83 million tonnes, yielding 5.15 grams of gold per tonne.NMDC intends to hire a consultant to assist in obtaining government approvals such as environmental clearances. india is the world's largest consumer of gold after China. In our country, gold is used for weddings and festivals. That is why the demand for gold is high in the country. More than 90 percent of gold demand has to be imported.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

gold mining

Related Articles: