Cover photo
annotating the internet

archivebay

Latest

UP's claim of unearthing 5 times India's gold reserves refuted by GSI - Business Standard News

UP's claim of unearthing 5 times India's gold reserves refuted by GSI - Business Standard News

www.business-standard.com/article/markets/up-s-claim-of-unearthing-5-times-india-s-gold-reserves-refuted-by-gsi-120022200816_1.html
Profile Image
Maria Garcia
2020-02-23 09:41:15
UP's claim of unearthing 5 times India's gold reserves refuted by GSI - Business Standard News

UP's claim of unearthing 5 times India's gold reserves refuted by GSI - Business Standard News

www.business-standard.com/article/markets/up-s-claim-of-unearthing-5-times-india-s-gold-reserves-refuted-by-gsi-120022200816_1.html

Are you over 18 and want to see adult content?

Text

By continuing to use this site you consent to the use of cookies on

your device as described in our Cookie Policy unless

you have disabled them. You can change your Cookie Settings

at any time but parts of our site will not function

correctly without them.

* Home

* Markets

* Companies

* Opinion

* Tech

* Specials

* PF

* Portfolio

* Multimedia

* Budget 2020

* Sports

* Elections

* Today's Paper

* Latest News

* Economy

* Finance

* Current Affairs

* International

* Management

* The Strategist

* Weekend

* Data Stories

* GST

* News

* Stocks

* Commodities

* IPOs

* Mutual Funds

* Mutual Fund Tools

* Derivatives

* BS Fund Manager

* News

* Results

* Financial X-Ray

* Auto

* Engineering

* Financials

* Infra

* IT

* Oil & Gas

* Telecom

* Services

* All Sectors

* Editorial Comment

* Columnists

* BS Special

* Business Law & Tax

* Lunch

* Poll

* News

* Reviews

* Launches

* Specials

* Weekend

* Digital Consumer

* PE/VC

* Brand World

* SME

* Start-ups

* B2B Connect

* Sponsored Content

* BS Special

* Health and Wellness

* News

* Features

* Investments

* Loans & Credit Cards

* Tax

* Insurance

* Financial Tools

* Photo Gallery

* Podcast

* Video Gallery

* News

* Income Tax Calculator

* Glossary

* ICC World Test Championship

* India Vs New Zealand

* Pro Hockey League

* Home

* Today's Paper

* Latest News

* Economy

* Finance

* Current Affairs

* International

* Management

* The Strategist

* Weekend

* Data Stories

* GST

+

* Markets

* News

* Stocks

* Commodities

* IPOs

* Mutual Funds

* Mutual Fund Tools

* Derivatives

* BS Fund Manager

+

* Companies

* News

* Results

* Financial X-Ray

* Auto

* Engineering

* Financials

* Infra

* IT

* Oil & Gas

* Telecom

* Services

* All Sectors

+

* Opinion

* Editorial Comment

* Columnists

* BS Special

* Business Law & Tax

* Lunch

* Poll

+

* Tech

* News

* Reviews

* Launches

* Specials

+

* Specials

* Weekend

* Digital Consumer

* PE/VC

* Brand World

* SME

* Start-ups

* B2B Connect

* Sponsored Content

* BS Special

* Health and Wellness

+

* PF

* News

* Features

* Investments

* Loans & Credit Cards

* Tax

* Insurance

* Financial Tools

+ * Portfolio

* Multimedia

* Photo Gallery

* Podcast

* Video Gallery

+

* Budget 2020

* News

* Income Tax Calculator

* Glossary

+

* Sports

* ICC World Test Championship

* India Vs New Zealand

* Pro Hockey League

+ * Elections

* Home

* Today's Paper

* Latest News

* Economy

* Finance

* Current Affairs

* International

* Management

* The Strategist

* Weekend

* Data Stories

* GST

* Markets

* News

* Stocks

* Commodities

* IPOs

* Mutual Funds

* Mutual Fund Tools

* Derivatives

* BS Fund Manager

* Companies

* News

* Results

* Financial X-Ray

* Auto

* Engineering

* Financials

* Infra

* IT

* Oil & Gas

* Telecom

* Services

* All Sectors

* Opinion

* Editorial Comment

* Columnists

* BS Special

* Business Law & Tax

* Lunch

* Poll

* Tech

* News

* Reviews

* Launches

* Specials

* Specials

* Weekend

* Digital Consumer

* PE/VC

* Brand World

* SME

* Start-ups

* B2B Connect

* Sponsored Content

* BS Special

* Health and Wellness

* PF

* News

* Features

* Investments

* Loans & Credit Cards

* Tax

* Insurance

* Financial Tools

* Portfolio

* Multimedia

* Photo Gallery

* Podcast

* Video Gallery

* Budget 2020

* News

* Income Tax Calculator

* Glossary

* Sports

* ICC World Test Championship

* India Vs New Zealand

* Pro Hockey League

* Elections

* BS APPS

* iPad

* iPhone

* Android

* Wap

* BS PRODUCTS

* Smart Investor

* BS Hindi

* BS Motoring

* BS Books

* Today's Paper

* BS E-Paper

* Bs Learning

* Hi,

* Change Password

* Subscribe

* My Page

* Sign out

* Change Password

* Manage My Account

* My Page

*

* Sign out

* SIGN IN

* Subscribe

*

*

*

*

*

*

*

* Home

* Today's Paper

* Latest News

* Economy

* Finance

* Current Affairs

* International

* Management

* The Strategist

* Weekend

* Data Stories

* GST

* Markets

* News

* Stocks

* Commodities

* IPOs

* Mutual Funds

* Mutual Fund Tools

* Derivatives

* BS Fund Manager

* Companies

* News

* Results

* Financial X-Ray

* Auto

* Engineering

* Financials

* Infra

* IT

* Oil & Gas

* Telecom

* Services

* All Sectors

* Opinion

* Editorial Comment

* Columnists

* BS Special

* Business Law & Tax

* Lunch

* Poll

* Tech

* News

* Reviews

* Launches

* Specials

* Specials

* Weekend

* Digital Consumer

* PE/VC

* Brand World

* SME

* Start-ups

* B2B Connect

* Sponsored Content

* BS Special

* Health and Wellness

* PF

* News

* Features

* Investments

* Loans & Credit Cards

* Tax

* Insurance

* Financial Tools

* Portfolio

* Multimedia

* Photo Gallery

* Podcast

* Video Gallery

* Budget 2020

* News

* Income Tax Calculator

* Glossary

* Sports

* ICC World Test Championship

* India Vs New Zealand

* Pro Hockey League

* Elections

* Home

* Today's Paper

* Latest News

* Economy

* Finance

* Current Affairs

* International

* Management

* The Strategist

* Weekend

* Data Stories

* GST

* Markets

* News

* Stocks

* Commodities

* IPOs

* Mutual Funds

* Mutual Fund Tools

* Derivatives

* BS Fund Manager

* Companies

* News

* Results

* Financial X-Ray

* Auto

* Engineering

* Financials

* Infra

* IT

* Oil & Gas

* Telecom

* Services

* All Sectors

* Opinion

* Editorial Comment

* Columnists

* BS Special

* Business Law & Tax

* Lunch

* Poll

* Tech

* News

* Reviews

* Launches

* Specials

* Specials

* Weekend

* Digital Consumer

* PE/VC

* Brand World

* SME

* Start-ups

* B2B Connect

* Sponsored Content

* BS Special

* Health and Wellness

* PF

* News

* Features

* Investments

* Loans & Credit Cards

* Tax

* Insurance

* Financial Tools

* Portfolio

* Multimedia

* Photo Gallery

* Podcast

* Video Gallery

* Budget 2020

* News

* Income Tax Calculator

* Glossary

* Sports

* ICC World Test Championship

* India Vs New Zealand

* Pro Hockey League

* Elections

JUST IN

* Less than 1% trafficking victims receive compensation: NGO report

* Coronavirus: UP reserves 820 isolation beds for travellers from

China

* 1.3 bn Indians whole-heartedly welcomed critical judicial

verdicts, says PM

* Coronavirus: Govt asks citizens to avoid non-essential travel to

Singapore

* Court rejects Nirbhaya convict's plea, says he suffers from mental

illness

* Pharmexcil sends masks and gloves to China to help people fight

coronavrus

* Road at Shaheen Bagh opened by group of protesters, blocked again

* Traditional media should introspect on its role in society: Prez

Kovind

* Robust surveillance stalled coronavirus: Health minister Harsh

Vardhan

* Trump visit: Flyers in Ahmedabad told to reach airport 3 hours

prior

* X

*

You are here: Home » Current Affairs » News

National

PHARMEXCIL SENDS MASKS AND GLOVES TO CHINA TO HELP PEOPLE FIGHT

CORONAVRUS

Business Standard

UP'S CLAIM OF UNEARTHING 5 TIMES INDIA'S GOLD RESERVES REFUTED BY GSI

THE GSI, HEADQUARTERED IN KOLKATA, REBUTTED THE CLAIMS OF THE UTTAR

PRADESH DIRECTORATE OF GEOLOGY AND MINING (UPDGM)

Avishek Rakshit   |

Kolkata  Last Updated at February 22, 2020 23:40 IST

AddThis Sharing Buttons

Share to FacebookFacebook2.1KShare to TwitterTwitterShare to

LinkedInLinkedInShare to TelegramTelegramShare to MoreAddThis7

EMAIL THIS ARTICLE

Message:

Recipients' Email:

Type address separated by commas

Your Email:

Enter the characters shown in the image.

Send me a copy:

*

ALSO READ

2,294-TONNE GOLDMINE UNEARTHED IN SONBHADRA, FOUR TIMES INDIA'S

RESERVES

2,900-TONNE GOLD MINE FOUND IN SONBHADRA, 4 TIMES THAT OF INDIA'S

RESERVES

RBI BUYS GOLD FOR FOREX RESERVES AFTER 5 MONTHS, NOW HOLDS 625 TONNES

GOLD INVESTMENTS FALL TO 7 TONNES IN Q3CY19 IN WORST-EVER QUARTERLY

OFFTAKE

LACK OF TRUST, SUBSTANDARD PRODUCTS HAUNT GOLD BUYERS IN INDIA: SURVEY

*

The euphoria over the claim that around 3,000 tonnes of gold

reserves, worth Rs 12 trillion, have been discovered in

Uttar Pradesh’s Sonbhadra district could not last even 24 hours,

with the Geological Survey of India (GSI) clarifying on Saturday there

had been no such discovery.

The GSI, headquartered in Kolkata, rebutted the claims of the Uttar

Pradesh Directorate of Geology and Mining (UPDGM), and said

“miscommunication” must have led to the wrong reporting of facts.

M Sridhar, director general of the GSI, said nobody in the agency gave

any such data. He said 52,806 tonnes of gold ore was

found in Sonbhadra district during the exploration work in 1998-2000.

From this reserve, only 160 kg of gold can be extracted.

“There must have been some miscommunication of facts because of

which the gold ore deposits have been overestimated. We have written a

letter to Uttar Pradesh (UPDGM), stating the facts. The GSI has not

estimated such kind of vast resource of gold deposits in Sonbhadra,”

Sridhar said.

ALSO READ: 2,900-TONNE GOLD MINE FOUND IN SONBHADRA, 4 TIMES THAT OF

INDIA'S RESERVES

The UPDGM had said on Friday that gold deposits were found in Son

Pahadi and Hardi areas of the district. Sridhar said while gold ore

was found in the area during the GSI’s exploration work in

1998-2000, it had told the state government about the discovery in

November last year.

Under the new regulation, which came into effect from 2015, the GSI

has to inform the state government when ore deposits are discovered.

Earlier, no such action was mandatory. In its report, the GSI

estimated that only 3.03 gm of gold can be extracted from a tonne of

ore. It also clarified that even the extraction amount was tentative

and could not be established for certain.

Moreover, Sridhar said the deposits were spread across only 0.5 sq km

in forest land, which made the mining of ore economically unviable.

“When there are several mines nearby, we can club it into a block

and then it makes sense to mine the ore. But in this case, the

deposits are too small to make it viable for any company to mine

it,” he said. The GSI usually prioritises its exploration work based

on the needs of the Centre. While strategic minerals like tin, cobalt,

lithium, beryllium, germanium, gallium, indium, tantalum, niobium,

selenium, and bismuth are atop the list in GSI exploration, gold is

another commodity on its priority list.

According to the World Gold Council, India has reserves of 630 tonnes

of gold.

READ OUR FULL COVERAGE ON GOLD

First Published: Sat, February 22 2020. 19:10 IST

* Read More On

*

GOLD MINES

|

GOLD

|

UTTAR PRADESH GOVERNMENT

|

CURRENT AFFAIRS

|

NATIONAL

PREVIOUS STORY

NEXT STORY

RECOMMENDED FOR YOU

Beyond Business Current Affairs Economy & Policy Finance International

Management Photo Gallery Video Gallery

LATEST NEWS

* In this section

* All

*

Modi my friend, says Trump as he leaves for maiden India visit with

Melania

*

Delhi police issues traffic advisory ahead of Trump's visit on Monday

*

CAA: Protestors stage dharnas in Bihar, back Bhim Army's shutdown call

*

Stone pelting at anti-CAA protest in Jaffrabad, heavy force deployment

Advertisement *

More >

*

Madhya Pradesh govt says no 5-star hotel events after Centre cuts

Budget

*

Letter to BS: Kerala's huge sanitation drive a benchmark for other

states

*

Letter to BS: How Larry Tesler's 'cut, copy, paste' took the world by

storm

*

Fund pick: Axis Bluechip Fund is a consistent

large-cap outperformer

Advertisement *

More >

NEWS TRENDS 2019

What is Section 144

What is Article 370

What is Article 35A

What is Motor Vehicles Act

What is Triple Talaq Law

What is National Medical Commission (NMC) Bill

How to file GST return

Who is Amit Shah

Who is Byju Raveendran

What is Electric Vehicle

MOST POPULAR

* read

* share

* commented

*

Coronavirus may be the 'Disease X' WHO cautioned about years ago

*

Cognizant board to talk business realignment efforts on February 24

*

TCG in talks with global firms for Odisha and Tamil Nadu mega projects

*

Agra's Taj Mahal goes for speed cleaning ahead of Donald Trump's visit

Advertisement *

*

Adani's Rs 400 crore bid for posh Aditya Estates in Delhi gets NCLT

nod

*

Nationalism, slogan of 'Bharat Mata Ki Jai' being misused: Manmohan

Singh

*

Centre pays Rs 50,850 crore to farmers under PM-KISAN scheme

*

'Vivad se Vishwas': Cases in arbitration abroad eligible, says I-T

dept

Advertisement *

*

Why India's census is in trouble

*

UP's claim of unearthing 5 times India's gold reserves refuted by GSI

*

Look back in anger: Why aren't economists setting

down roots in India now?

*

The mayhem that is Congress

Advertisement *

MORE ON MARKETS:

QUICK LINKS

*

STOCK MARKET LIVE

*

PORTFOLIO

*

COMMODITY MARKET

*

UPCOMING IPO

*

PERSONAL FINANCE

*

STOCK MARKET NEWS

*

DERIVATIVES

*

MUTUAL FUNDS

*

GOLD PRICE

*

SENSEX

BROWSE STOCK COMPANIES

* A

* B

* C

* D

* E

* F

* G

* H

* I

* J

* K

* L

* M

* N

* O

* P

* Q

* R

* S

* T

* U

* V

* W

* X

* Y

* Z

* 1

* 2

* 3

* 4

* 5

* 6

* 7

* 8

* 9

BROWSE MUTUAL FUNDS

* A

* B

* C

* D

* E

* F

* G

* H

* I

* J

* K

* L

* M

* N

* O

* P

* Q

* R

* S

* T

* U

* V

* W

* X

* Y

* Z

INDEX STOCKS

* Adani Ports

* Asian Paints

* Axis Bank

* B P C L

* Bajaj Auto

* Bajaj Finance Ltd

* Bajaj Finserv

* Bharti Airtel

* Bharti Infra.

* Cipla

* Coal India

* Dr Reddy's Labs

* Eicher Motors

* GAIL (India)

* Grasim Inds

* H D F C

* HCL Technologies

* HDFC Bank

* Hero Motocorp

* Hind. Unilever

* Hindalco Inds.

* Hindustan Petroleum Corporation Ltd

* ICICI Bank

* Indian Oil Corporation Ltd.

* IndusInd Bank

* Infosys

* ITC

* JSW Steel

* Kotak Mah. Bank

* Larsen & Toubro

* M & M

* Maruti Suzuki

* Nestle India Ltd.

* NTPC

* O N G C

* Power Grid Corpn

* Reliance Inds.

* St Bk of India

* Sun Pharma. Inds.

* Tata Motors

* Tata Steel

* TCS

* Tech Mahindra

* Titan Company

* UltraTech Cement Ltd

* UPL Ltd

* Wipro

* Yes Bank

* Zee Entertainment

TRENDING ON BS

* #Markets

* #BSWeekend

* #BSTech

* #GST

* #BSSpecial

Copyrights © 2020 Business Standard Private Ltd. All rights reserved.

*

*

FROM BS WEBSITE

* Home

* Companies

* Markets

* Opinion

* Politics

* Technology

* Specials

* Personal Finance

* Latest News

* Today's Paper

* RBI Policy

* General News

* General Videos

* General Photo Gallery

* Events

* Authors

* Education

*

*

ABOUT US

* About Us

* Code of Conduct

* Terms & Conditions

* Privacy Policy

* Cookie Policy

* Disclaimer

* Investor Communication

* List of our GST registration number

*

SUPPORT & CONTACT

* Partner with Us

* Careers

* Advertise with Us

* Contact Us

* Feedback

* Browser Support

* Sitemap

*

*

READER CENTRE

* Assistance

* E-Paper

* Manage My Account

* My Page

* Portfolio

* Register

* Subscribe

*

BS PRODUCTS

* Smart Investor

* BS Hindi

* BS Motoring

* BS Books

* B2B Connect

* iPhone

* iPad

* android

* Mobile Browser

*

EVENT

* Insurance Round Table 2020

*

BUDGET 2020

* Elections 2020

* Lok Sabha Elections 2019

*

SPORTS

* Cricket

* Football

* ICC World Test Championship

* India vs Bangladesh

CONNECT WITH BS

* Facebook

* Telegram

* Linkedin

* Twitter

* Youtube

* RSS

UPGRADE TO PREMIUM SERVICES

Welcome User

Business Standard is happy to inform you of the launch of "Business

Standard Premium Services"

As a premium subscriber you get an across device unfettered access to

a range of services which include:

* Access Exclusive content - articles, features & opinion pieces

* Weekly Industry/Genre specific newsletters - Choose multiple

industries/genres

* Access to 17 plus years of content archives

* Set Stock price alerts for your portfolio and watch list and get

them delivered to your e-mail box

* End of day news alerts on 5 companies (via email)

* NEW: Get seamless access to WSJ.com at a great price. No

additional sign-up required.

PREMIUM SERVICES

IN PARTNERSHIP WITH

DEAR GUEST,

Welcome to the premium services of Business Standard brought to you

courtesy FIS.

Kindly visit the Manage my subscription page

to discover the benefits of this

programme.

Enjoy Reading!

Team Business Standard

Tiny URLclose

https://mybs.in/2YKwKDa

Keep abreast of the latest in business. Get notified about stories and

events as they happen.

No Thanks

Yes Please

AddThis Sharing Sidebar

Share to FacebookFacebook

, Number of sharesShare to TwitterTwitterShare to

LinkedInLinkedInShare to TelegramTelegramMore AddThis Share

optionsAddThis

, Number of shares

Hide

Show

Close

AddThis

Source

Details

More Annotations

www.www.taxi69.com
Profile Image
Maria Garcia
2020-11-22 06:55:51

www.www.taxi69.com

Are you over 18 and want to see adult content?

www.www.porngem.com
Profile Image
Maria Garcia
2020-11-22 06:55:51

www.www.porngem.com

Are you over 18 and want to see adult content?

www.pornxxx.pro
Profile Image
Maria Garcia
2020-11-22 06:55:53

www.pornxxx.pro

Are you over 18 and want to see adult content?

mypornbible.com
Profile Image
Maria Garcia
2020-11-22 06:55:54

mypornbible.com

Are you over 18 and want to see adult content?

www.wankerson.com
Profile Image
Maria Garcia
2020-11-22 06:55:57

www.wankerson.com

Are you over 18 and want to see adult content?

www.biguncutdicks.com
Profile Image
Maria Garcia
2020-11-22 06:55:58

www.biguncutdicks.com

Are you over 18 and want to see adult content?

clubedosvideos.com
Profile Image
Maria Garcia
2020-11-22 06:56:05

clubedosvideos.com

Are you over 18 and want to see adult content?

www.cpz.to
Profile Image
Maria Garcia
2020-11-22 06:56:05

www.cpz.to

Are you over 18 and want to see adult content?

www.glam0ur.com
Profile Image
Maria Garcia
2020-11-22 06:56:08

www.glam0ur.com

Are you over 18 and want to see adult content?

divinebitches.com
Profile Image
Maria Garcia
2020-11-22 06:56:08

divinebitches.com

Are you over 18 and want to see adult content?

javhihi.com
Profile Image
Maria Garcia
2020-11-22 06:56:10

javhihi.com

Are you over 18 and want to see adult content?

www.www.hentai-foundry.com
Profile Image
Maria Garcia
2020-11-22 06:56:11

www.www.hentai-foundry.com

Are you over 18 and want to see adult content?

Copyright © 2021 ArchiveBay.com. All rights reserved. Terms of Use | Privacy Policy | DMCA | 2019 | 2020 | Feedback | Advertising | RSS 2.0