Finshots Daily The gold rush begins at home
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Sep 29, 2025 Exploring India's gold mining potential, the discussion reveals how domestic efforts could lessen dependence on imports. The host highlights historical mining challenges, environmental concerns, and regulatory barriers that stifled growth. The introduction of the 2023 Mines Bill ignites hope for private exploration, with the Jannagiri project illustrating success through modern regulations. Despite initial gains, the road to reducing imports remains long, but there’s optimism for unlocking a wealth of minerals and future growth.
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Huge Import Gap And Deep Mine Limits
- India imports roughly 1,000 tons of gold yearly while domestic production is tiny at about 1.5 tons.
- Historical mines like KGF became unviable as extraction costs and hazards rose with depth.
KGF's Rise And Decline
- The Kolar Gold Field produced ~800 tons over 120 years before closing in 2001 due to rising costs.
- At one point it was the second deepest gold mine at 3,200 meters, which made continued operation uneconomical.
Policy Bottlenecks Kept Private Miners Out
- Private companies avoided gold exploration because approvals were fragmented and opaque between central and state governments.
- Starting a mine required multiple clearances and felt like a paperwork nightmare before any extraction began.