Bhubaneswar: Odisha is set to become a major gold mining hub after discovering large gold reserves across multiple districts. Mines Minister Bibhuti Bhushan Jena confirmed the findings in the Odisha Legislative Assembly on Thursday, highlighting the state’s growing mineral wealth and its potential to boost the economy.
Important Gold Deposits Have Been Discovered Within the Sundargarh, Nabarangpur, Angul, And Koraput Districts. Subsequent Surveys Suggest That Gold Also Lies Within Malkangiri, Sambalpur, And Boudh Districts. This Places The State Of Odisha As A Crucial Contributor To India’s Gold Inventory.
The discoveries do not end here. Within the Mayurbhanj region, exploration is ongoing in Jashipur, Suriaguda, Ruaansi, Idelkucha, Maredihi, Suleipat, and Badampahad. The Geological Survey of India (GSI) previously administered a G-2 level survey in the Adasa-Rampalli region within Deogarh which verified the existence of gold and copper minerals.
Odisha’s government announced a gold mine auction in Odisha’s Deogarh district which represents the state’s first gold mine auction. This covers milestones for the state’s mining industry while drawing fresh investment opportunities.
The Odisha Mining Corporation (OMC) alongside GSI, keeps investigating parts of Keonjhar such as Mankadchuan, Saleikana, and Dimirimunda, with hopes of discovering gold. Before political efforts of commercialization begin, technical committees will evaluate the final reports of the exploration policy.
Future Exploration Plans of Gold Reserves
State exploration development has also picked up pace elsewhere in the state. In Mayurbhanj, gold reserve surveys are being conducted in Jashipur, Suriaguda, and Badampahad areas.
Meanwhile, GSI is conducting copper-gold exploration in Deogarh’s Jaladihi area and results are expected by the end of the year. Gopur-Gazipur in Keonjhar is also prepared, but not yet auctioned.
Boost to State’s Economy and Employment
Odisha has continued to monitor the gold relay capabilities with the hope it will bolster the economic condition of the state. There is optimism that the sector can gain foreign shareholder attention which will help boost employment opportunities while improving the industrial framework in the state.
Gold-rich states hold the record of being the richest states and having the best standard of living in India. Once gold mining operations begin, it is predictably expected to strengthen the economic state of the region.
Industry professionals project the gold mining initiatives will aid in improving the state’s overall revenue which can be directed towards bettering infrastructure facilities and social welfare schemes. The first gold mine located in Deogarh will open prospects for further commercial exploitation and operational activities in the upcoming years.
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What Lies Ahead:
Current world market prices for gold are high which makes it possible for Odisha to capitalise on increased profits from mining operations. The state government intends to accelerate the auction process of mining for gold so that the demand for gold can be satisfied.
Due to further exploration in some districts and an upcoming auction of the state’s first goldmine, Odisa is poised to be a big player in gold mining in India. In the next few years, Odisha might very well be one of the largest producers of gold in the country, this would be advantageous for the mining sector in the state and in the country.
As always in the past, we will keep you informed about all developments in connection with the ongoing gold rush in Odisha!