The Geological Survey of India (GSI) has discovered gold deposits estimated to be around 3,000 tonnes and worth Rs 12 lakh crore in the Sonbhadra district of Uttar Pradesh, almost five times the country’s current reserve of the yellow metal.
The gold deposits were found in the Son Pahadi and Hardi areas here, district mining officer KK Rai said on Friday.
Work on finding gold reserves in Sonbhadra was started almost two decades back in 1992-93 by the Geological Survey of India, he said, adding that auctioning of these blocks through e-tendering would start soon.
The deposits in Son Pahadi are estimated to be around 2,943.26 tonnes, while those at the Hardi block are around 646.16 kilograms, the official said.
Besides gold, some other minerals have also been found in the area, he added.
According to the World Gold Council (WGC), India currently has 626 tonnes of gold reserves.
The new reserves are almost five times that amount and estimated to be worth nearly Rs 12 lakh crore.
The British reportedly were the first to initiate the process of finding gold reserves in the Sonbhadra region, which is more in the news for being a Naxalism-affected area.
Sonbhadra – the second largest district of Uttar Pradesh – is the only district in the country which shares its borders with four states — Madhya Pradesh to the west, Chhattisgarh to the south, Jharkhand to the south-east and Bihar to the east.