Billions Worth of Gold Found in Rajasthan, Two New Blocks Identified, Auction Process Begins for Mining

Rajasthan Gold: Mines in Banswara-Salumber, Rajasthan will be auctioned for gold mining. The process of issuing Composite Licence (CL) has been initiated. The estimated value of the gold reserves found in Rajasthan is said to be more than ₹1.50 lakh crore.

Rajasthan Gold: Following the discovery of gold reserves in Rajasthan, the government has now initiated efforts for their extraction. The Department of Mines and Geology has identified two new blocks in the Banswara and Salumbar districts and has begun the process of issuing Composite Licences (CL) for them. Companies that are allocated these blocks will be able to explore and mine gold here. Previously, two gold mines in the Banswara district were put up for auction, but both allocations had to be cancelled due to incomplete paperwork and legal disputes.

The department is now advancing the auction process for the gold mining blocks identified in Kankariya in Banswara district and Dagotha in Salumbar district. It is believed that substantial gold reserves are present at both locations. Applications for these blocks have been invited until December 15, after which the auction process will commence. Efforts were made to auction here previously as well, but without success.

Previous Allocations Stuck

The Mines Department had previously auctioned two gold mines in the Bhukiya-Jagpura and Kankariya-Gara villages of Ghatol tehsil in Banswara district. A letter of intent had been issued for one of these mines, and the company had deposited approximately ₹100 crore.

Later, the allocation had to be cancelled due to legal proceedings, and the matter went into judicial review. In the case of the second mine, the company could not complete the necessary paperwork, due to which the letter of intent could not be issued.

Auction of Several Important Minerals

The Mining Department has also initiated the auction process for blocks of important minerals such as garnet, basemetal, copper, lead, and zinc. Basemetal blocks have been identified in Bikaner, Chittorgarh, and Udaipur. Copper will be explored and mined in the Ladana block in Udaipur, copper and other minerals in the Bhapariya ka Kheda block in Chittorgarh, and copper, lead, and zinc in the Khamor block in Bhilwara. Similarly, three blocks of garnet have been identified in Tonk district for composite licences. Along with this, the auction of two limestone mines in Jaisalmer is also proposed.

Second Position in Gold Reserves in the Country

More than 18 gold blocks have been identified in the state. The largest reserves have been found in the Banswara district, where 12 blocks are identified in Jagpura, Bhukiya, Delwara, and Panch Mahuri. Additionally, there are 4 blocks in Dagotha in Udaipur, 1 in Bharkundi in Dungarpur, and 1 block in Dhani Baseri in Dausa.

The estimated value of the gold reserves found in the state is said to be over ₹1.50 lakh crore. Bihar holds the first position in the country with 44% of gold reserves, while Rajasthan is in second place with 25% of the gold reserves.