Mineral Exploration Corporation Ltd. has commenced exploration of natural minerals on the land belonging to the defunct Bharat Gold Mines Ltd. (BGML) in Kolar.
The drilling was started on BGML lands to identify non-mineral areas and hand them over for development as an industrial park by the State government.
“Happy to convey that exploratory drilling at Betrayaswamy block of Kolar Gold Field commenced today. This will help in resolving the BGML issue which has been pending for the last 16 years,” tweeted Union Coals and Mines Minister Pralhad Joshi on Tuesday.
After a meeting with Chief Minister B.S. Yediyurappa on August 28, Mr. Joshi said the Mineral Exploration Corporation Ltd. would identify areas that have not been explored for natural minerals within six months. If after the survey the land parcel does not possess any minerals, it will be handed over to the Karnataka Industrial Areas Development Board to set up the industrial park.
The land is strategically located, at 90 km from Bengaluru airport, 260 km from Chennai port, and 314 km from Krishnapatnam port.
During the survey, if any gold, palladium or tungsten minerals are found, the State government will auction them off and get royalty, Mr. Joshi had said at the meeting in August.
