To revive closed or unviable gold mines in India, the Union government has decided to float global tenders. And for selling the assets of Bharat Gold Mines, a tender for investment bankers has been floated. The country's gold reserves are estimated at 14,000 tonne.
It is said that those Indian mining giants, as well as global ones are preparing to grab the opportunity. Sources said Vedanta group, London-listed Kolar Gold and an Australian mining company were the leading entities interested in gold mining in India.
The Union government’s move follows a Supreme Court's judgment asking the Centre to finalise global tenders to sell the assets of gold mines that were shut. Sources said at a later stage the government might consider selling unviable copper mines said to have gold reserves to private companies, through a global tendering process.