Why In The News?

• The Karnataka government has approved the Centre’s proposal to revive gold mining and auction 13 tailing dumps spanning 1,003 acres at Kolar Gold Fields (KGF).

Key Points:

=> The mines, owned by Bharat Gold Mines Ltd. (BGML), are set for revival under the Mines and Minerals Development and Regulation Act, 1957.

=> The move aims to generate employment and boost domestic gold production.

=> KGF is among the deepest in the world. Mining at KGF began in 1880 by Jhon Taylor & Sons.

=> After 121 years of operation, the mines closed on February 28, 2001, due to high operational costs and low revenues.

=> Besides gold extraction, KGF has been utilized for particle physics experiments, leading to the discovery of atmospheric neutrinos.

Currently, India operates three gold mines:

• Hutti and Uti in Karnataka, and Hirabuddini in Jharkhand.
• India produces approximately 1.6 tonnes of gold annually, far below its consumption of 774 tonnes per year.
• KGF (Kolar Gold Fields) is situated 100 kilometres from Bangalore in Karnataka’s Kolar district.