Over 3000 Tons of Gold mine found in Sonabhadra, UttaraPradesh

[Srinivas_K]

Over 3000 Tons of Gold mine found in Sonabhadra, UttaraPradesh

 

[Agraj]

Thanks for the thread. So whats the future prospect of this find in terms of our economy ? Surely this is huge

 

[sorcerer]

Combine it with the Gold mines in Jharkhand...

 

[shuvo@y2k10]

Considering Gold prices today, for 10 gm of 24 karat (99.5%) Gold (in Lucknow, UP), is valued at Rs.43030. That translates to Rs.12909,00,00,00,000 or Rs.12909 crore or about 1.796 billion usd. However, India's current gold reserves is estimated at 625.6 tonnes of gold (Ref: https://www.businesstoday.in/curren...gold-reserves-in-two-months/story/393571.html ). However, currently at Tenth position in the world, in terms of total gold holding, this will put us at second position,with about 3625.6 tonnes, ahead of Germany with 3366 tonnes and behind USA with 8133 tonnes.

 

[Kumata]

let us hope modi / yogi will use it for benefit of ulta pradesh and its people.

Its good that they discovered this now. Has it been khangress, they would have silently smuggled everything into their safes and rest to italy

 

[Srinivas_K]

Considering Gold prices today, for 10 gm of 24 karat (99.5%) Gold (in Lucknow, UP), is valued at Rs.43030. That translates to Rs.12909,00,00,00,000 or Rs.12909 crore or about 1.796 billion usd. However, India's current gold reserves is estimated at 625.6 tonnes of gold (Ref: https://www.businesstoday.in/curren...gold-reserves-in-two-months/story/393571.html ). However, currently at Tenth position in the world, in terms of total gold holding, this will put us at second position,with about 3625.6 tonnes, ahead of Germany with 3366 tonnes and behind USA with 8133 tonnes.

Estimates are they will be 180 billion dollars, I calculated based on googling 1 ton gold.

 

[Srinivas_K]

Combine it with the Gold mines in Jharkhand...

There is a discovery of lithium reserves in Karnataka which is the raw material for batteries and will be a huge boost for electric vehicle revolution.

 

[captscooby81]

People are completely clueless online it's 3500 tonne gold ore not pure gold . Maximum extraction will be 8-10% pure gold out of this 3500 tonne gold ore . Which will add 300-350 tonnes of gold to our holding .

It will take nothing less than 30 years to mine these gold deposits easily

Someone was predicting people on Bihar UP and Jharkhand will discover lots of minerals in their lands before end of this year . Looks like this UP discovery is just a start of more to follow .

 

[sorcerer]

There is a discovery of lithium reserves in Karnataka which is the raw material for batteries and will be a huge boost for electric vehicle revolution.

YEah..not much..but a good start...

 

[Satchidananda369]

FYI, INDIA has the world's largest over-ground holding of GOLD by far ahead when compared to any country on Earth.
Its the Gold available with the general masses, due to the preference for Gold jewelry among women in Hindu culture, we are the world's biggest importers and consumers of Gold.

We have now amassed nearly 33,000 tons out of which only 600+ tons in with GOI. This is without counting the unknown temple gold reserves like those of Padmanabhaswamy temple.

This is 4 times the second biggest holder USA (8,000+ tons) and 10 times that of China !!!

Gold never loses its real value, Its industrial applications and requirements will continue to increase in the 21rst century space age due its widespread usage in computer chips and for radiation protection, In times of currency crisis, it becomes the main alternate currency and tool for trade / bartering.

As a country, we are well-placed if the Petro-Dollar loses its current status as reserve currency and global trade returns to a gold backed currency sometime in the near future...

 

[Akula]

Off topic but, Does anyone remember that Baba who said that he had a dream of more than thousand tons of gold. Even the government got interested and later we faced embrassment at international level.

 

[Haldiram]

Gold never loses its real value, Its industrial applications and requirements will continue to increase in the 21rst century space age due its widespread usage in computer chips and for radiation protection, In times of currency crisis, it becomes the main alternate currency and tool for trade / bartering.

As a country, we are well-placed if the Petro-Dollar loses its current status as reserve currency and global trade returns to a gold backed currency sometime in the near future...

True dat.

Gold, platinum, palladium, silver and even diamonds have very high-tech industrial uses in the semiconductor and aerospace industry, much more now than ever. People have been accumulating these shiny things since a millennium but only now we have found the real use of these rare earth minerals.

It will be interesting to see how the demand from industrial applications drives prices in competition with retail buyers of gold who only buy for ceremonial purposes. Both will be trying to outbid each other and prices may go up. OR if the gormit sees that the nation might benefit from these reserves, then they might impose prohibitive taxation on buying and holding precious metals.

 

[captscooby81]

Just leaving it here rest of prediction for Saturn transit 2020-2023 for our country, Expect more mineral discoveries to happen in next few years

23 January 2020 12:42 hrs IST - 21 January 2021, 20:46 IST :- Saturn in UTTARASHADA : Western parts of India (ancient India includes Afghanistan and Pakistan too) like Rajasthan, Gujarat, Punjab, Maharashtra will be effected.
This period also indicates a WAR like situation in Asia.

21 January 2021, 20:46 IST - 17 February 2022, 04:15 IST :- Saturn in SRAVANA : Few corrupt government officials will get caught. Bad time for bureaucrats, priests, religious heads.
Kalinga (North coastal Andhra - Odisha) will get hit by cyclones and floods.

17 February 2022, 04:16 IST - 16 January 2023 19:50 IST :- Saturn in DHANISHTA(1,2,3) : Bihar, Jharkhand people will have great time. Minerals found under earth like gold, manganese, copper, oils, coal from this place can fetch them unexpected wealth.
Banking sector will pickup and see profits.
All financial institutions, private lendors, chitfund companies can see much better time.

 

[Tvastr]

People are completely clueless online it's 3500 tonne gold ore not pure gold . Maximum extraction will be 8-10% pure gold out of this 3500 tonne gold ore . Which will add 300-350 tonnes of gold to our holding .

It will take nothing less than 30 years to mine these gold deposits easily

Someone was predicting people on Bihar UP and Jharkhand will discover lots of minerals in their lands before end of this year . Looks like this UP discovery is just a start of more to follow .

I hope not. If it is really 3500 tons of gold ore then we can expect maximum 21 kg Gold @ 6grams per ton (typical yield rate) which amounts to a whopping Rs 9 crore

I seriously doubt they would make such a big deal of it if it were just 3500 tons of gold ore.

 

[Sanglamorre]

I hope not. If it is really 3500 tons of gold ore then we can expect maximum 21 kg Gold @ 6grams per ton (typical yield rate) which amounts to a whopping Rs 9 crore

I seriously doubt they would make such a big deal of it if it were just 3500 tons of gold ore.

I don't think it's ore estimates either. They don't exactly publish ore estimates, always how much material that can be got from however amount it ore there is.

A 9 Cr. Valuation mine is hardly noticeable. Even a mid level restaurant might make that in its initial years.xd

 

[Atcjurvin]

That area is full of snakes so now we can expect foreign funded NGOs and so called environmental activits trying to derail the mining or protesting against it.

 

[Atcjurvin]

I hope not. If it is really 3500 tons of gold ore then we can expect maximum 21 kg Gold @ 6grams per ton (typical yield rate) which amounts to a whopping Rs 9 crore

I seriously doubt they would make such a big deal of it if it were just 3500 tons of gold ore.

I don't think so..............

 

[Johny_Baba]

People are completely clueless online it's 3500 tonne gold ore not pure gold . Maximum extraction will be 8-10% pure gold out of this 3500 tonne gold ore . Which will add 300-350 tonnes of gold to our holding .

It will take nothing less than 30 years to mine these gold deposits easily

Someone was predicting people on Bihar UP and Jharkhand will discover lots of minerals in their lands before end of this year . Looks like this UP discovery is just a start of more to follow .

official statement is here...

f**k 30 character rule

 

[Sanglamorre]

official statement is here...

f**k 30 character rule

Oh shit. No gold lol.
............

 

[Srinivas_K]

I hope not. If it is really 3500 tons of gold ore then we can expect maximum 21 kg Gold @ 6grams per ton (typical yield rate) which amounts to a whopping Rs 9 crore

I seriously doubt they would make such a big deal of it if it were just 3500 tons of gold ore.

The reports are suggesting that it is indeed 3600 Tons of Gold.