Gold reserve worth 1.5 billion dollars discovered

Recent geological surveys conducted in the eastern Indian state of Odisha have uncovered new gold deposits of significant importance to the country's economy. Preliminary data regarding the total amount of gold suggest that the reserve could have a value of 1.5 billion dollars.

Odisha is a leading region in the country for minerals such as iron ore, bauxite, and chromite. This new discovery is expected to further increase the region's economic potential. Drilling and exploration activities related to the gold reserves have been concentrated in the Deogarh, Keonjhar, Sundargarh, Nabarangpur, Angul, and Koraput regions.

While it was announced that the first mining block in Deogarh has been put up for auction, a statement from the Indian Ministry of Mines emphasized that although the new discovery will not provide complete independence in gold imports, it will create a strategic increase in domestic production.

According to the state's current resource data, Odisha holds approximately 96% of India's chromite reserves, 52% of its bauxite assets, and 33% of its iron ore.

News Source: 12punto