Kolkata | March 06, 2015:
A view of Kolar Gold Fields, one of the main tailing dumps by Bharat Gold Mines, in Kolar District (file photo) K MURALI KUMAR
The Union Ministry of Mines has asked Mineral Exploration Corporation Ltd (MECL) and Geological Survey of India (GSI) to “re-evaluate the (gold tailing) dumps and mines” of Bharat Gold Mines Ltd (BGML).
The Ministry has re-initiated move to decide on the future of the Government-owned company in a recent review. It also sought to prioritise actions regarding the non-operational but yet to be wound up BGML.
According to sources, the Ministry decided for a fresh evaluation of its assets.
It also set in motion steps to remove administrative roadblocks and address the legal issues.
With piled up losses, the gold mining company was formally closed in 2001, and all the workers were paid off their dues.
The Union Mines and Steel Minister Narendra Singh Tomar has asked MECL and GSI, the two Government exploration agencies to undertake re-evaluation process.
Incidentally, renewal of one of the principal mining leases of BGML in Karnataka, though expired in 2013, is technically possible.
The Ministry has found out that as the application for it was made in time, under the current legal provision renewal could be had, if BGML fulfils certain conditions.
(Source: http://www.thehindubusinessline.com/)