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Lok Sabha
The production of gold in the country during the year 2003-04 was 3,363 kg. The quantity of gold imported during the year was 7,66,596 kg. Similarly during 2002-03, India produced 3,153 kg. of gold and imported 6,06,662 kg. Gold in the country is mainly consumed in unorganized sector. Therefore, there are no firm estimates of consumption of gold in the country. Very rough estimates suggest that consumption of gold in India is about 800 tonnes per annum.
Government of India has issued a number of reconnaissance permits for exploration of gold. Hutti Gold Mines Company Limited (HGML), a Government of Karnataka undertaking, is the only company in the country which has been entrusted with the task of production of gold. The company has taken steps like modernization / expansion of its mines and mills, deepening of shafts, underground diamond drilling, opening up of new satellite mines, searching new gold bearing areas under the reconnaissance permit and prospecting licenses in order to boost the production of gold.
This information was given by the Minister of State for Coal & Mines, Dr. Dasari Narayana Rao, in a written reply in the Lok Sabha today.
DS/SCH
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