State may strike gold in hidden metals
PLATINUM, DIAMOND, gold and silver ?Bundelkhand region has it all though hidden beneath the earth. Recently two companies sought permission to search for the precious metals, having explored their existence in the belly of one of the most backward regions in the country.india Updated: May 25, 2006 10:08 IST
PLATINUM, DIAMOND, gold and silver —Bundelkhand region has it all though hidden beneath the earth. Recently two companies sought permission to search for the precious metals, having explored their existence in the belly of one of the most backward regions in the country.
The prospecting, if turns out to be productive, will change the fortunes of the region and make the State richer by hundreds of crores.
Multinational company ACC Rio Tinto Exploration Limited has sought two prospecting licences (PLs) for 70 sq km in Chhatarpur district. Geo Mysore Services Limited has asked for three PLs for prospecting in 70 sq km in Sidhi district.
ACC Rio Tinto Exploration was given reconnaissance licence (RL) for an area of 9621.69 sq km in Chhatarpur, Damoh, Tikamgarh, Panna and Sagar districts for exploration of diamond and other precious minerals along with secondary minerals like copper, lead, silver, bismuth and cadmium.
The Geo Mysore Service (India) Private Limited, supported by an Australian Company, got RL for an area of 5155 sq km in Sidhi, Jabalpur, Katni, Shahdol, Umaria and Betul districts for gold, copper, lead, zinc, nickel, tungsten, bismuth, cobalt, molybdenum and platinum group of minerals. The companies were given RL two years back by the Centre and the initial exploration made them optimistic enough to seek permission for prospecting.
“Applying for PL is an indication that the region is rich in mineral wealth,” Mineral Resources Minister Laxmikant Sharma said.
The State Government has already forwarded applications of the companies to the Centre which is likely to issue PL soon, he told the Hindustan Times.
In its report to the State Government, ACC Rio Tinto mentioned about finding 14 kimberlite pipes in Bundelkhand along with traces of gold deposits.
The Geo Mysore Services (India) Pvt Ltd too found gold deposits in some parts of Madhya Pradesh. The company identified small, five-to-eight-metre-wide high-grade patches of gold in Gurharpahar tract in Sidhi district.
If these findings materialise and are found to be economically viable, these pockets of the State will not only witness a boom in developmental activities but also fetch high revenue, Sharma said.