Govt mulls tender for Bharat Gold Mines revival

The government is contemplating inviting global tenders to revive Bharat Gold Mines (BGML), which has closed mining operations at its Kolar Gold Fields (KGF) in Karnataka.

Union minister of state for surface transport K H Muniyappa said the centre had appointed a consultancy firm to fix value to the BGML's assets. "Once the firm submits its report, the government will invite tenders. The revival of BGML is high on the agenda of the government," he added.

According to the minister, gold deposits are still present in an area spanning 80 sq.kms in and around KGF. "Studies have indicated that there is a potential to extract up to 5 grams of gold for every tonne mined," he contended.