Not KGF, it’s Jonnagiri: Andhra Pradesh’s 50-tonne gold find may be worth Rs 73,000 crore
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Amidst the increasing demand for gold worldwide, 50 tonnes of gold reserves have been found in India. According to media reports, this gold reserve has been found in the southern state of Andhra Pradesh. Andhra Pradesh can become the largest supplier of gold in the country in the next few years. Officials say that this will not only increase gold production in the country but also reduce the country's dependence on gold imports. An official said…
Not KGF, it’s Jonnagiri: Andhra Pradesh’s 50-tonne gold find may be worth Rs 73,000 crore
New Delhi: Andhra Pradesh may be on the cusp of rewriting India’s gold-mining map, with officials projecting that Jonnagiri village in Kurnool district alone could hold around 50 tonnes of gold reserves. At current 24-carat gold prices in India, 50 tonnes would carry a rough gross metal value of over Rs 73,000 crore. That number, however, is not the same as mineable profit, extraction costs, ore grade, recovery rates, approvals and further explo…
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