New Delhi, March 17 A parliamentary committee has urged the mines ministry to expedite the monetization of around 33 million tonnes of gold-rich tailings dumps at Bharat Gold Mines Ltd (BGML) in Kolar Gold Fields, Karnataka.
Gold mine tailings dumps are massive storage facilities containing crushed rock, water, and processing chemicals left after extracting gold. They pose significant environmental risks.
BGML is a PSU under the mines ministry, which has been closed since 2001. The 2026-27 budget has allocated Rs 8.75 crore for its maintenance.
The Standing Committee on Coal, Mines and Steel said in its latest report that approximately 33 million tonnes of tailings dumps at KGF, containing recoverable quantities of gold and other precious metals, have been identified for monetization.
The parliamentary panel called upon the ministry to expedite the monetization process.
The committee may also be informed of the latest developments in this regard.
BGML was incorporated in April 1972 under the administrative control of the Department of Mines, with its office at Kolar Gold Fields (KGF). BGML was engaged in mining and production of gold mainly in KGF and in a few smaller operations in Andhra Pradesh.
When BGML operations became economically unviable, they were closed. The Cabinet had taken a decision in 2006 to dispose of the assets through a global tender with first right of refusal in favor of the ex-employees society.
The Cabinet's decision could not be implemented for some reasons. However, presently the government is exploring future options and other viable alternatives regarding BGML, the mines ministry said.