Sonbhadra gold discovery: Hardeep Singh Puri says, 'Reserve will catalyse growth'

Union Minister of Housing and Urban Affairs Hardeep Singh Puri on Saturday, February 22 took to the microblogging website Twitter and underlined the discovery of gold in Sonbhadra district of Uttar Pradesh. He said that this discovery will catalyse the growth of the district. This development also makes India’s gold reserve the second largest in the world. 

Hardeep Singh Puri in a tweet said, “India will now have the world's 2nd largest gold reserves. The massive Gold discovery in Sonebhadra will further catalyze the growth of this beautiful aspirational district, bring positive change in the lives of the people & usher an era of transformation.” 

Read: 3000-tonne gold deposits found in UP's Sonbhadra; makes Indian reserve world's 2nd largest

Gold deposits found In UP's Sonbhadra 

The Uttar Pradesh Directorate of Geology and the Mining and Geological Survey of India on Friday, February 21 discovered two gold mines which collectively amount to 3,350 tonnes of gold ore. The two ores - located at Son Pahadi and Hardi village in Uttar Pradesh put together could be more than five times India's current gold reserves which is around 626 tonnes, as per records. The Uttar Pradesh government is mulling on putting the gold deposits on lease for mining, says District Mining Officer K K Rai. 

Read: Gold prices rise Rs 111 on weak rupee, silver falls Rs 67

About Sonbhadra gold reserves 

The work on the gold reserves in Sonbhadra was started almost two decades back in 1992-93 by the Geological Survey of India. The gold reserve found at  Son Pahadi is reportedly 2,943.26 tonnes and the one at Hardi is reportedly 646.15 tonnes. Auctioning of these blocks through e-tendering would start soon, as stated by the government. 

Read: MP: Man nabbed at airport with smuggled gold worth lakhs

Moreover, the discovered gold deposits are estimated to be worth Rs 12 lakh crore. Reports state that a seven-member team have visited the area on Friday for geo-tagging and mapping the goldmine. The team will reportedly submit its report to the Directorate of Geology and Mining by February 22. 

Read: Gold jumps Rs 462 on global cues, silver soars Rs 1,047